‘2012’ for ‘2016’ in subparagraph (A)(ii) 
thereof. If any amount after adjustment 
under the preceding sentence is not a mul-
tiple of $50, such amount shall be rounded 
to the next lowest multiple of $50.’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2017. 
SEC. 147. TERMINATION OF EXCLUSION FOR QUALIFIED BI-
CYCLE COMMUTING REIMBURSEMENT. 
(a) IN GENERAL.—Section 132(f)(1) is amended by 
striking subparagraph (D). 
(b) CONFORMING AMENDMENTS.— 
(1) Section 132(f)(2) is amended by adding 
‘‘and’’ at the end of subparagraph (A), striking ‘‘, 
and’’ at the end of subparagraph (B) and inserting 
a period, and striking subparagraph (C). 
(2) Section 132(f)(4) is amended by striking 
‘‘(other than a qualified bicycle commuting reim-
bursement)’’. 
(3) Section 132(f) is amended by striking para-
graph (8). 
(4) Section 274(l)(2) is amended by striking 
‘‘after December 31, 2017, and before January 1, 
2026’’. 
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(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2017. 
SEC. 148. QUALIFIED MOVING EXPENSE REIMBURSEMENT 
EXCLUSION LIMITED TO MEMBERS OF ARMED 
FORCES. 
(a) IN GENERAL.—Section 132(g) is amended— 
(1) by striking ‘‘by an individual’’ in paragraph 
(1) and inserting ‘‘by a qualified military indi-
vidual’’, and 
(2) by striking paragraph (2) and inserting the 
following new paragraph: 
‘‘(2) QUALIFIED
MILITARY
INDIVIDUAL.—For 
purposes of this subsection, the term ‘qualified mili-
tary individual’ means a member of the Armed 
Forces of the United States on active duty who moves 
pursuant to a military order and incident to a per-
manent change of station.’’. 
(b) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2017. 
SEC. 149. DEDUCTION FOR MOVING EXPENSES LIMITED TO 
MEMBERS OF ARMED FORCES. 
(a) IN GENERAL.—Section 217 is amended— 
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(1) by amending subsection (a) to read as fol-
lows: 
‘‘(a) DEDUCTION ALLOWED.—There shall be allowed 
as a deduction moving expenses paid or incurred during 
the taxable year by a member of the Armed Forces of the 
United States on active duty who moves pursuant to a mili-
tary order and incident to a permanent change of station.’’, 
(2) by striking subsections (c), (d), (f), and (g) 
and redesignating subsections (h), (i), (j), and (k) as 
subsections (c), (d), (f) and (g), respectively, and 
(3) by inserting after subsection (d), as so redes-
ignated, the following new subsection: 
‘‘(e) EXPENSES FURNISHED IN KIND.—Any moving 
and storage expenses which are furnished in kind (or for 
which reimbursement or an allowance is provided, but only 
to the extent of the expenses paid or incurred)— 
‘‘(1) to such member, his spouse, or his depend-
ents, shall not be includible in gross income, and no 
reporting with respect to such expenses shall be re-
quired by the Secretary of Defense or the Secretary of 
Transportation, as the case may be, and 
‘‘(2) to such member’s spouse and his dependents 
with regard to moving to a location other than the 
one to which such member moves (or from a location 
other than the one from which such member moves), 
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this section shall apply with respect to the moving ex-
penses of his spouse and dependents as if his spouse 
commenced work as an employee at a new principal 
place of work at such location.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Subsections (d)(3)(C) and (e) of section 23 
are each amended by striking ‘‘section 217(h)(3)’’ and 
inserting ‘‘section 217(c)(3)’’. 
(2) Section 7872(f) is amended by striking para-
graph (11). 
(3) Section 217 is amended in the heading by 
striking ‘‘MOVING EXPENSES’’ and inserting ‘‘CER-
TAIN
MOVING
EXPENSES
OF
MEMBERS
OF 
ARMED FORCES’’. 
(4) The table of sections for part VII of sub-
chapter B of chapter 1 is amended by striking the 
item relating to section 217 and inserting the fol-
lowing new item: 
‘‘Sec. 217. Certain moving expenses of members of Armed Forces.’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2017. 
SEC. 150. LIMITATION ON WAGERING LOSSES. 
(a) IN GENERAL.—Section 165(d) is amended by strik-
ing ‘‘in the case of taxable years beginning after December 
31, 2017, and before January 1, 2026,’’. 
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(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2017. 
Subtitle F—Increase in Estate and 
Gift Tax Exemption 
SEC. 151. INCREASE IN ESTATE AND GIFT TAX EXEMPTION. 
(a) IN GENERAL.—Section 2010(c)(3) is amended in 
subparagraph (A), by striking ‘‘$5,000,000’’ and inserting 
‘‘$10,000,000’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 2001(g) is amended to read as fol-
lows: 
‘‘(g) MODIFICATIONS TO GIFT TAX PAYABLE TO RE-
FLECT DIFFERENT TAX RATES.—For purposes of applying 
subsection (b)(2) with respect to 1 or more gifts, the rates 
of tax under subsection (c) in effect at the decedent’s death 
shall, in lieu of the rates of tax in effect at the time of such 
gifts, be used both to compute— 
‘‘(1) the tax imposed by chapter 12 with respect 
to such gifts, and 
‘‘(2) the credit allowed against such tax under 
section 2505, including in computing— 
‘‘(A) the applicable credit amount under 
section 2505(a)(1), and 
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‘‘(B) the sum of the amounts allowed as a 
credit for all preceding periods under section 
2505(a)(2).’’. 
(2) Section 2010(c)(3) is amended by striking 
subparagraph (C). 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to estates of decedents dying and gifts 
made after December 31, 2017. 
TITLE 
II—INCREASED 
EXEMP-
TION FOR ALTERNATIVE MIN-
IMUM TAX MADE PERMANENT 
SEC. 201. INCREASED EXEMPTION FOR INDIVIDUALS. 
(a) IN GENERAL.—Section 55(d)(1) is amended— 
(1) by striking ‘‘$78,750’’ in subparagraph (A) 
and inserting ‘‘$109,400’’, and 
(2) by striking ‘‘$50,600’’ in subparagraph (B) 
and inserting ‘‘$70,300’’. 
(b) PHASE-OUT
OF EXEMPTION AMOUNT.—Section 
55(d)(2) is amended— 
(1) by striking ‘‘$150,000’’ in subparagraph (A) 
and inserting ‘‘$1,000,000’’, and 
(2) by striking subparagraphs (B) and (C) and 
by inserting the following new subparagraphs: 
‘‘(B) 50 percent of the dollar amount appli-
cable under subparagraph (A) in the case of a 
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taxpayer described in paragraph (1)(B) or 
(1)(C), and 
‘‘(C) $75,000 in the case of a taxpayer de-
scribed in paragraph (1)(D).’’, 
(c) INFLATION ADJUSTMENT.—Section 55(d)(3) is 
amended to read as follows: 
‘‘(3) INFLATION
ADJUSTMENT.—In the case of 
any taxable year beginning in a calendar year after 
2018, each dollar amount described in clause (i) or 
(ii) of subparagraph (B) shall be increased by an 
amount equal to— 
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar year 
in which the taxable year begins, determined by 
substituting— 
‘‘(i) in the case of a dollar amount 
contained in paragraph (1)(D) or (2)(C) or 
in subsection (b)(1)(A), ‘calendar year 
2011’ for ‘calendar year 2016’ in subpara-
graph (A)(ii) thereof, and 
‘‘(ii) in the case of a dollar amount 
contained in paragraph (1)(A), (1)(B), or 
(2)(A), ‘calendar year 2017’ for ‘calendar 
year 2016’ in subparagraph (A)(ii) thereof. 
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Any increased amount determined under this para-
graph shall be rounded to the nearest multiple of $100 
($50 in the case of the dollar amount contained in 
paragraph (2)(C)).’’. 
(d) CONFORMING
AMENDMENT.—Section 55(d) is 
amended by striking paragraph (4). 
(e) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2017. 
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Union Calendar No. 746 
115TH CONGRESS 
2D SESSION 
H. R. 6760 
[Report No. 115–958] 
A BILL 
To amend the Internal Revenue Code of 1986 to 
make permanent certain provisions of the Tax 
Cuts and Jobs Act affecting individuals, families, 
and small businesses. 
SEPTEMBER 24, 2018 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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