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shall become effective not later than the first day
of the first month after the date of such request.’’.
(d) REGULATIONS.—The Secretary of the Treasury, the
Secretary of Labor, and the Secretary of Health and
Human Services, consistent with section 104 of the Health
Insurance Portability and Accountability Act of 1996 (42
U.S.C. 300gg–92 note), may promulgate such regulations
as may be necessary or appropriate to require the notifica-
tion of individuals (or their dependents) of their rights
under the amendment made by this Act.
(e) EFFECTIVE DATE.—The amendments made by this
section shall take effect 90 days after the date of the enact-
ment of this Act.
TITLE III—TAX TECHNICAL
CORRECTIONS
SEC. 301. SHORT TITLE.
This title may be cited as the ‘‘’’.
SEC. 302. AMENDMENT RELATED TO THE TAX RELIEF AND
HEALTH CARE ACT OF 2006.
(a) AMENDMENT RELATED TO SECTION 402 OF DIVI-
SION A OF THE ACT.—Subparagraph (A) of section 53(e)(2)
is amended to read as follows:
‘‘(A) IN GENERAL.—The term ‘AMT refund-
able credit amount’ means, with respect to any
taxable year, the amount (not in excess of the
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long-term unused minimum tax credit for such
taxable year) equal to the greater of—
‘‘(i) $5,000,
‘‘(ii) 20 percent of the long-term un-
used minimum tax credit for such taxable
year, or
‘‘(iii) the amount (if any) of the AMT
refundable credit amount determined under
this paragraph for the taxpayer’s preceding
taxable year (as determined before any re-
duction under subparagraph (B)).’’.
(b) EFFECTIVE DATE.—The amendment made by this
section shall take effect as if included in the provision of
the Tax Relief and Health Care Act of 2006 to which it
relates.
SEC. 303. AMENDMENTS RELATED TO TITLE XII OF THE
PENSION PROTECTION ACT OF 2006.
(a) AMENDMENT RELATED TO SECTION 1201 OF THE
ACT.—Subparagraph (D) of section 408(d)(8) is amended
by striking ‘‘all amounts distributed from all individual re-
tirement plans were treated as 1 contract under paragraph
(2)(A) for purposes of determining the inclusion of such dis-
tribution under section 72’’ and inserting ‘‘all amounts in
all individual retirement plans of the individual were dis-
tributed during such taxable year and all such plans were
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treated as 1 contract for purposes of determining under sec-
tion 72 the aggregate amount which would have been so in-
cludible’’.
(b) AMENDMENT RELATED TO SECTION 1203 OF THE
ACT.—Subsection (d) of section 1366 is amended by adding
at the end the following new paragraph:
‘‘(4) APPLICATION
OF
LIMITATION
ON
CHARI-
TABLE CONTRIBUTIONS.—In the case of any chari-
table contribution of property to which the second
sentence of section 1367(a)(2) applies, paragraph (1)
shall not apply to the extent of the excess (if any)
of—
‘‘(A) the shareholder’s pro rata share of such
contribution, over
‘‘(B) the shareholder’s pro rata share of the
adjusted basis of such property.’’.
(c) AMENDMENT RELATED TO SECTION 1215 OF THE
ACT.—Subclause (I) of section 170(e)(7)(D)(i) is amended
by striking ‘‘related’’ and inserting ‘‘substantial and re-
lated’’.
(d) AMENDMENTS RELATED TO SECTION 1218 OF THE
ACT.—
(1) Section 2055 is amended by striking sub-
section (g) and by redesignating subsection (h) as sub-
section (g).
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(2) Subsection (e) of section 2522 is amended—
(A) by striking paragraphs (2) and (4),
(B) by redesignating paragraph (3) as
paragraph (2), and
(C) by adding at the end of paragraph (2),
as so redesignated, the following new subpara-
graph:
‘‘(C) INITIAL FRACTIONAL CONTRIBUTION.—
For purposes of this paragraph, the term ‘initial
fractional contribution’ means, with respect to
any donor, the first gift of an undivided portion
of the donor’s entire interest in any tangible per-
sonal property for which a deduction is allowed
under subsection (a) or (b).’’.
(e) AMENDMENTS RELATED TO SECTION 1219 OF THE
ACT.—
(1) Paragraph (2) of section 6695A(a) is amend-
ed by inserting ‘‘a substantial estate or gift tax valu-
ation understatement (within the meaning of section
6662(g)),’’ before ‘‘or a gross valuation misstatement’’.
(2) Paragraph (1) of section 6696(d) is amended
by striking ‘‘or under section 6695’’ and inserting ‘‘,
section 6695, or 6695A’’.
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(f) AMENDMENT RELATED TO SECTION 1221 OF THE
ACT.—Subparagraph (A) of section 4940(c)(4) is amended
to read as follows:
‘‘(A) There shall not be taken into account
any gain or loss from the sale or other disposi-
tion of property to the extent that such gain or
loss is taken into account for purposes of com-
puting the tax imposed by section 511.’’.
(g) AMENDMENT RELATED TO SECTION 1225 OF THE
ACT.—
(1) Subsection (b) of section 6104 is amended—
(A) by striking ‘‘INFORMATION’’ in the
heading, and
(B) by adding at the end the following:
‘‘Any annual return which is filed under section
6011 by an organization described in section
501(c)(3) and which relates to any tax imposed
by section 511 (relating to imposition of tax on
unrelated business income of charitable, etc., or-
ganizations) shall be treated for purposes of this
subsection in the same manner as if furnished
under section 6033.’’.
(2) Clause (ii) of section 6104(d)(1)(A) is
amended to read as follows:
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‘‘(ii) any annual return which is filed
under section 6011 by an organization de-
scribed in section 501(c)(3) and which re-
lates to any tax imposed by section 511 (re-
lating to imposition of tax on unrelated
business income of charitable, etc., organiza-
tions),’’.
(3) Paragraph (2) of section 6104(d) is amended
by striking ‘‘section 6033’’ and inserting ‘‘section
6011 or 6033’’.
(h) AMENDMENT RELATED TO SECTION 1231 OF THE
ACT.—Subsection (b) of section 4962 is amended by strik-
ing ‘‘or D’’ and inserting ‘‘D, or G’’.
(i) AMENDMENT RELATED TO SECTION 1242 OF THE
ACT.—
(1) Subclause (II) of section 4958(c)(3)(A)(i) is
amended by striking ‘‘paragraph (1), (2), or (4) of
section 
509(a)’’ 
and 
inserting 
‘‘subparagraph
(C)(ii)’’.
(2) Clause (ii) of section 4958(c)(3)(C) is amend-
ed to read as follows:
‘‘(ii) EXCEPTION.—Such term shall not
include—
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‘‘(C) TREATMENT OF TRADE OR BUSINESS
CONDUCTED BY ACQUIRED MEMBER.—If a cor-
poration became a member of a separate affili-
ated group as a result of one or more trans-
actions in which gain or loss was recognized in
whole or in part, any trade or business con-
ducted by such corporation (at the time that
such corporation became such a member) shall be
treated for purposes of paragraph (2) as ac-
quired in a transaction in which gain or loss
was recognized in whole or in part.
‘‘(D) REGULATIONS.—The Secretary shall
prescribe such regulations as are necessary or
appropriate to carry out the purposes of this
paragraph, including regulations which provide
for the proper application of subparagraphs (B),
(C), and (D) of paragraph (2), and modify the
application of subsection (a)(3)(B), in connec-
tion with the application of this paragraph.’’.
(3) The Internal Revenue Code of 1986 shall be
applied and administered as if the amendments made
by section 202 of the Tax Increase Prevention and
Reconciliation Act of 2005 and by section 410 of divi-
sion A of the Tax Relief and Health Care Act of 2006
had never been enacted.
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(c) AMENDMENT RELATED TO SECTION 515 OF THE
ACT.—Subsection (f) of section 911 is amended to read as
follows:
‘‘(f) DETERMINATION OF TAX LIABILITY.—
‘‘(1) IN GENERAL.—If, for any taxable year, any
amount is excluded from gross income of a taxpayer
under subsection (a), then, notwithstanding sections 1
and 55—
‘‘(A) if such taxpayer has taxable income
for such taxable year, the tax imposed by section
1 for such taxable year shall be equal to the ex-
cess (if any) of—
‘‘(i) the tax which would be imposed by
section 1 for such taxable year if the tax-
payer’s taxable income were increased by
the amount excluded under subsection (a)
for such taxable year, over
‘‘(ii) the tax which would be imposed
by section 1 for such taxable year if the tax-
payer’s taxable income were equal to the
amount excluded under subsection (a) for
such taxable year, and
‘‘(B) if such taxpayer has a taxable excess
(as defined in section 55(b)(1)(A)(ii)) for such
taxable year, the amount determined under the
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first sentence of section 55(b)(1)(A)(i) for such
taxable year shall be equal to the excess (if any)
of—
‘‘(i) the amount which would be deter-
mined under such sentence for such taxable
year (subject to the limitation of section
55(b)(3)) if the taxpayer’s taxable excess (as
so defined) were increased by the amount
excluded under subsection (a) for such tax-
able year, over
‘‘(ii) the amount which would be deter-
mined under such sentence for such taxable
year if the taxpayer’s taxable excess (as so
defined) were equal to the amount excluded
under subsection (a) for such taxable year.
‘‘(2) SPECIAL RULES.—
‘‘(A) REGULAR TAX.—In applying section
1(h) for purposes of determining the tax under
paragraph (1)(A)(i) for any taxable year in
which, without regard to this subsection, the tax-
payer’s net capital gain exceeds taxable income
(hereafter in this subparagraph referred to as the
capital gain excess)—
‘‘(i) the taxpayer’s net capital gain
(determined without regard to section
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1(h)(11)) shall be reduced (but not below
zero) by such capital gain excess,
‘‘(ii) the taxpayer’s qualified dividend
income shall be reduced by so much of such
capital gain excess as exceeds the taxpayer’s
net capital gain (determined without regard
to section 1(h)(11) and the reduction under
clause (i)), and
‘‘(iii) 
adjusted 
net 
capital 
gain,
unrecaptured section 1250 gain, and 28-
percent rate gain shall each be determined
after increasing the amount described in
section 1(h)(4)(B) by such capital gain ex-
cess.
‘‘(B) ALTERNATIVE MINIMUM TAX.—In ap-
plying section 55(b)(3) for purposes of deter-
mining the tax under paragraph (1)(B)(i) for
any taxable year in which, without regard to
this subsection, the taxpayer’s net capital gain
exceeds the taxable excess (as defined in section
55(b)(1)(A)(ii))—
‘‘(i) the rules of subparagraph (A)
shall apply, except that such subparagraph
shall be applied by substituting ‘the taxable
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excess 
(as 
defined 
in 
section
55(b)(1)(A)(ii))’ for ‘taxable income’, and
‘‘(ii) 
the 
reference 
in 
section
55(b)(3)(B) to the excess described in section
1(h)(1)(B) shall be treated as a reference to
such excess as determined under the rules of
subparagraph (A) for purposes of deter-
mining the tax under paragraph (1)(A)(i).
‘‘(C) DEFINITIONS.—Terms used in this
paragraph which are also used in section 1(h)
shall have the respective meanings given such
terms by section 1(h), except that in applying
subparagraph (B) the adjustments under part VI
of subchapter A shall be taken into account.’’.
(d) EFFECTIVE DATE.—
(1) IN GENERAL.—Except as otherwise provided
in this subsection, the amendments made by this sec-
tion shall take effect as if included in the provisions
of the Tax Increase Prevention and Reconciliation
Act of 2005 to which they relate.
(2) MODIFICATION OF ACTIVE BUSINESS DEFINI-
TION UNDER SECTION 355.—
(A) IN GENERAL.—Except as otherwise pro-
vided in this paragraph, the amendments made
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of 1986 of distributions made on or before May
17, 2006, as a result of an acquisition, disposi-
tion, or other restructuring after such date, such
distribution shall be treated as made on the date
of such acquisition, disposition, or restructuring
for purposes of applying subparagraphs (A)
through (C) of this paragraph. The preceding
sentence shall only apply with respect to the cor-
poration that undertakes such acquisition, dis-
position, or other restructuring, and only if such
application results in continued qualification
under section 355(b)(2)(A) of such Code.
(3) AMENDMENT RELATED TO SECTION 515 OF
THE ACT.—The amendment made by subsection (c)
shall apply to taxable years beginning after December
31, 2006.
SEC. 305. AMENDMENTS RELATED TO THE SAFE, ACCOUNT-
ABLE, 
FLEXIBLE, 
EFFICIENT 
TRANSPOR-
TATION EQUITY ACT: A LEGACY FOR USERS.
(a) AMENDMENTS RELATED TO SECTION 11113 OF
THE ACT.—
(1) 
Paragraph 
(3) 
of 
section 
6427(i) 
is
amended—
(A) by inserting ‘‘or under subsection (e)(2)
by any person with respect to an alternative fuel
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(as defined in section 6426(d)(2))’’ after ‘‘section
6426’’ in subparagraph (A),
(B) by inserting ‘‘or (e)(2)’’ after ‘‘sub-
section (e)(1)’’ in subparagraphs (A)(i) and (B),
and
(C) by striking ‘‘ALCOHOL FUEL AND BIO-
DIESEL MIXTURE CREDIT’’ and inserting ‘‘MIX-
TURE
CREDITS
AND
THE
ALTERNATIVE
FUEL
CREDIT’’ in the heading thereof.
(2) Subparagraph (F) of section 6426(d)(2) is
amended by striking ‘‘hydrocarbons’’ and inserting
‘‘fuel’’.
(3) Section 6426 is amended by adding at the
end the following new subsection:
‘‘(h) DENIAL OF DOUBLE BENEFIT.—No credit shall
be determined under subsection (d) or (e) with respect to
any fuel with respect to which credit may be determined
under subsection (b) or (c) or under section 40 or 40A.’’.
(b) EFFECTIVE DATE.—The amendments made by this
section shall take effect as if included in the provisions of
the SAFETEA–LU to which they relate.
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SEC. 306. AMENDMENTS RELATED TO THE ENERGY POLICY
ACT OF 2005.
(a) AMENDMENT RELATED TO SECTION 1306 OF THE
ACT.—Paragraph (2) of section 45J(b) is amended to read
as follows:
‘‘(2) AMOUNT
OF
NATIONAL
LIMITATION.—The
aggregate amount of national megawatt capacity lim-
itation allocated by the Secretary under paragraph
(3) shall not exceed 6,000 megawatts.’’.
(b) AMENDMENTS RELATED TO SECTION 1342 OF THE
ACT.—
(1) So much of subsection (b) of section 30C as
precedes paragraph (1) thereof is amended to read as
follows:
‘‘(b) LIMITATION.—The credit allowed under sub-
section (a) with respect to all qualified alternative fuel vehi-
cle refueling property placed in service by the taxpayer dur-
ing 
the 
taxable 
year 
at 
a 
location 
shall 
not
exceed—’’.
(2) Subsection (c) of section 30C is amended to
read as follows:
‘‘(c) QUALIFIED ALTERNATIVE FUEL VEHICLE RE-
FUELING PROPERTY.—For purposes of this section, the term
‘qualified alternative fuel vehicle refueling property’ has the
same meaning as the term ‘qualified clean-fuel vehicle re-
fueling property’ would have under section 179A if—
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‘‘(1) paragraph (1) of section 179A(d) did not
apply to property installed on property which is used
as the principal residence (within the meaning of sec-
tion 121) of the taxpayer, and
‘‘(2) only the following were treated as clean-
burning fuels for purposes of section 179A(d):
‘‘(A) Any fuel at least 85 percent of the vol-
ume of which consists of one or more of the fol-
lowing: ethanol, natural gas, compressed natural
gas, liquified natural gas, liquefied petroleum
gas, or hydrogen.
‘‘(B) Any mixture—
‘‘(i) which consists of two or more of
the following: biodiesel (as defined in section
40A(d)(1)), diesel fuel (as defined in section
4083(a)(3)), or kerosene, and
‘‘(ii) at least 20 percent of the volume
of which consists of biodiesel (as so defined)
determined without regard to any kerosene
in such mixture.’’.
(c) AMENDMENTS RELATED TO SECTION 1351 OF THE
ACT.—
(1) Paragraph (3) of section 41(a) is amended
by inserting ‘‘for energy research’’ before the period at
the end.
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(2) Paragraph (6) of section 41(f) is amended by
adding at the end the following new subparagraph:
‘‘(E) ENERGY
RESEARCH.—The term ‘en-
ergy research’ does not include any research
which is not qualified research.’’.
(d) AMENDMENTS RELATED TO SECTION 1362 OF THE
ACT.—
(1)(A) Paragraph (1) of section 4041(d) is
amended by adding at the end the following new sen-
tence: ‘‘No tax shall be imposed under the preceding
sentence on the sale or use of any liquid if tax was
imposed with respect to such liquid under section
4081 at the Leaking Underground Storage Tank
Trust Fund financing rate.’’.
(B) Paragraph (3) of section 4042(b) is amended
to read as follows:
‘‘(3) EXCEPTION FOR FUEL ON WHICH LEAKING
UNDERGROUND STORAGE TANK TRUST FUND FINANC-
ING RATE SEPARATELY IMPOSED.—The Leaking Un-
derground Storage Tank Trust Fund financing rate
under paragraph (2)(B) shall not apply to the use of
any fuel if tax was imposed with respect to such fuel
under section 4041(d) or 4081 at the Leaking Under-
ground Storage Tank Trust Fund financing rate.’’.
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(C) Notwithstanding section 6430 of the Internal
Revenue Code of 1986, a refund, credit, or payment
may be made under subchapter B of chapter 65 of
such Code for taxes imposed with respect to any liq-
uid after September 30, 2005, and before the date of
the enactment of this Act under section 4041(d)(1) or
4042 of such Code at the Leaking Underground Stor-
age Tank Trust Fund financing rate to the extent
that tax was imposed with respect to such liquid
under section 4081 at the Leaking Underground Stor-
age Tank Trust Fund financing rate.
(2)(A) Paragraph (5) of section 4041(d) is
amended—
(i) by striking ‘‘(other than with respect to
any sale for export under paragraph (3) there-
of)’’, and
(ii) by adding at the end the following new
sentence: ‘‘The preceding sentence shall not apply
with respect to subsection (g)(3) and so much of
subsection (g)(1) as relates to vessels (within the
meaning of section 4221(d)(3)) employed in for-
eign trade or trade between the United States
and any of its possessions.’’.
(B) Section 4082 is amended—
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(i) by striking ‘‘(other than such tax at the
Leaking Underground Storage Tank Trust Fund
financing rate imposed in all cases other than
for export)’’ in subsection (a), and
(ii) by redesignating subsections (f) and (g)
as subsections (g) and (h), respectively, and by
inserting after subsection (e) the following new
subsection:
‘‘(f) EXCEPTION FOR LEAKING UNDERGROUND STOR-
AGE TANK TRUST FUND FINANCING RATE.—
‘‘(1) IN
GENERAL.—Subsection (a) shall not
apply to the tax imposed under section 4081 at the
Leaking Underground Storage Tank Trust Fund fi-
nancing rate.
‘‘(2) EXCEPTION FOR EXPORT, ETC.—Paragraph
(1) shall not apply with respect to any fuel if the Sec-
retary determines that such fuel is destined for export
or for use by the purchaser as supplies for vessels
(within the meaning of section 4221(d)(3)) employed
in foreign trade or trade between the United States
and any of its possessions.’’.
(C) Subsection (e) of section 4082 is amended—
(i) by striking ‘‘an aircraft, the rate of tax
under section 4081(a)(2)(A)(iii) shall be zero.’’
and inserting ‘‘an aircraft—
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‘‘(1) 
the 
rate 
of 
tax 
under 
section
4081(a)(2)(A)(iii) shall be zero, and
‘‘(2) if such aircraft is employed in foreign trade
or trade between the United States and any of its pos-
sessions, the increase in such rate under section
4081(a)(2)(B) shall be zero.’’; and
(ii) by moving the last sentence flush with
the margin of such subsection (following the
paragraph (2) added by clause (i)).
(D) Section 6430 is amended to read as follows:
‘‘SEC. 6430. TREATMENT OF TAX IMPOSED AT LEAKING UN-
DERGROUND STORAGE TANK TRUST FUND FI-
NANCING RATE.
‘‘No refunds, credits, or payments shall be made under
this subchapter for any tax imposed at the Leaking Under-
ground Storage Tank Trust Fund financing rate, except in
the case of fuels—
‘‘(1) which are exempt from tax under section
4081(a) by reason of section 4082(f)(2),
‘‘(2) which are exempt from tax under section
4041(d) by reason of the last sentence of paragraph
(5) thereof, or
‘‘(3) with respect to which the rate increase
under section 4081(a)(2)(B) is zero by reason of sec-
tion 4082(e)(2).’’.
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(3) Paragraph (5) of section 4041(d) is amended
by inserting ‘‘(b)(1)(A),’’ after ‘‘subsections’’.
(e) EFFECTIVE DATE.—
(1) IN GENERAL.—Except as otherwise provided
in this subsection, the amendments made by this sec-
tion shall take effect as if included in the provisions
of the Energy Policy Act of 2005 to which they relate.
(2) NONAPPLICATION OF EXEMPTION FOR OFF-
HIGHWAY BUSINESS USE.—The amendment made by
subsection (d)(3) shall apply to fuel sold for use or
used after the date of the enactment of this Act.
(3) AMENDMENT MADE BY THE SAFETEA–LU.—
The amendment made by subsection (d)(2)(C)(ii)
shall take effect as if included in section 11161 of the
SAFETEA–LU.
SEC. 307. AMENDMENTS RELATED TO THE AMERICAN JOBS
CREATION ACT OF 2004.
(a) AMENDMENTS RELATED TO SECTION 339 OF THE
ACT.—
(1)(A) Section 45H is amended by striking sub-
section (d) and by redesignating subsections (e), (f),
and (g) as subsections (d), (e), and (f), respectively.
(B) Subsection (d) of section 280C is amended to
read as follows:
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‘‘(d) CREDIT FOR LOW SULFUR DIESEL FUEL PRO-
DUCTION.—The deductions otherwise allowed under this
chapter for the taxable year shall be reduced by the amount
of the credit determined for the taxable year under section
45H(a).’’.
(C) Subsection (a) of section 1016 is amended by
striking paragraph (31) and by redesignating para-
graphs (32) through (37) as paragraphs (31) through
(36), respectively.
(2)(A) Section 45H, as amended by paragraph
(1), is amended by adding at the end the following
new subsection:
‘‘(g) ELECTION TO NOT TAKE CREDIT.—No credit
shall be determined under subsection (a) for the taxable year
if the taxpayer elects not to have subsection (a) apply to
such taxable year.’’.
(B) Subsection (m) of section 6501 is amended
by inserting ‘‘45H(g),’’ after ‘‘45C(d)(4),’’.
(3)(A) Subsections (b)(1)(A), (c)(2), (e)(1), and
(e)(2) of section 45H (as amended by paragraph (1))
and section 179B(a) are each amended by striking
‘‘qualified capital costs’’ and inserting ‘‘qualified
costs’’.
(B) The heading of paragraph (2) of section
45H(c) is amended by striking ‘‘CAPITAL’’.
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(C) Subsection (a) of section 179B is amended
by inserting ‘‘and which are properly chargeable to
capital account’’ before the period at the end.
(b) AMENDMENTS RELATED TO SECTION 710 OF THE
ACT.—
(1) Clause (ii) of section 45(c)(3)(A) is amended
by striking ‘‘which is segregated from other waste ma-
terials and’’.
(2) Subparagraph (B) of section 45(d)(2) is
amended by inserting ‘‘and’’ at the end of clause (i),
by striking clause (ii), and by redesignating clause
(iii) as clause (ii).
(c) AMENDMENTS RELATED TO SECTION 848 OF THE
ACT.—
(1) Paragraph (2) of section 470(c) is amended
to read as follows:
‘‘(2) TAX-EXEMPT USE PROPERTY.—
‘‘(A) IN GENERAL.—The term ‘tax-exempt
use property’ has the meaning given to such term
by section 168(h), except that such section shall
be applied—
‘‘(i) without regard to paragraphs
(1)(C) and (3) thereof, and
‘‘(ii) as if section 197 intangible prop-
erty (as defined in section 197), and prop-
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erty described in paragraph (1)(B) or (2) of
section 167(f), were tangible property.
‘‘(B) EXCEPTION
FOR
PARTNERSHIPS.—
Such term shall not include any property which
would (but for this subparagraph) be tax-exempt
use property solely by reason of section
168(h)(6).
‘‘(C) CROSS REFERENCE.—For treatment of
partnerships as leases to which section 168(h)
applies, see section 7701(e).’’.
(2) Subparagraph (A) of section 470(d)(1) is
amended by striking ‘‘(at any time during the lease
term)’’ and inserting ‘‘(at all times during the lease
term)’’.
(d) AMENDMENTS RELATED TO SECTION 888 OF THE
ACT.—
(1) Subparagraph (A) of section 1092(a)(2) is
amended by striking ‘‘and’’ at the end of clause (ii),
by redesignating clause (iii) as clause (iv), and by in-
serting after clause (ii) the following new clause:
‘‘(iii) if the application of clause (ii)
does not result in an increase in the basis
of any offsetting position in the identified
straddle, the basis of each of the offsetting
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positions in the identified straddle shall be
increased in a manner which—
‘‘(I) is reasonable, consistent with
the purposes of this paragraph, and
consistently applied by the taxpayer,
and
‘‘(II) results in an aggregate in-
crease in the basis of such offsetting po-
sitions which is equal to the loss de-
scribed in clause (ii), and’’.
(2)(A) Subparagraph (B) of section 1092(a)(2)
is amended by adding at the end the following flush
sentence:
‘‘A straddle shall be treated as clearly identified
for purposes of clause (i) only if such identifica-
tion includes an identification of the positions in
the straddle which are offsetting with respect
other positions in the straddle.’’.
(B) Subparagraph (A) of section 1092(a)(2) is
amended—
(i) by striking ‘‘identified positions’’ in
clause (i) and inserting ‘‘positions’’,
(ii) by striking ‘‘identified position’’ in
clause (ii) and inserting ‘‘position’’, and
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(iii) by striking ‘‘identified offsetting posi-
tions’’ in clause (ii) and inserting ‘‘offsetting po-
sitions’’.
(C) Subparagraph (B) of section 1092(a)(3) is
amended by striking ‘‘identified offsetting position’’
and inserting ‘‘offsetting position’’.
(3) Paragraph (2) of section 1092(a) is amended
by redesignating subparagraph (C) as subparagraph
(D) and inserting after subparagraph (B) the fol-
lowing new subparagraph:
‘‘(C) APPLICATION TO LIABILITIES AND OB-
LIGATIONS.—Except as otherwise provided by the
Secretary, rules similar to the rules of clauses
(ii) and (iii) of subparagraph (A) shall apply
for purposes of this paragraph with respect to
any position which is, or has been, a liability or
obligation.’’.
(4) Subparagraph (D) of section 1092(a)(2), as
redesignated by paragraph (3), is amended by insert-
ing ‘‘the rules for the application of this section to a
position which is or has been a liability or obligation,
methods of loss allocation which satisfy the require-
ments of subparagraph (A)(iii),’’ before ‘‘and the or-
dering rules’’.
(e) EFFECTIVE DATE.—
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(1) IN GENERAL.—Except as otherwise provided
in this subsection, the amendments made by this sec-
tion shall take effect as if included in the provisions
of the American Jobs Creation Act of 2004 to which
they relate.
(2) IDENTIFICATION REQUIREMENT OF AMEND-
MENT RELATED TO SECTION 888 OF THE AMERICAN
JOBS CREATION ACT OF 2004.—The amendment made
by subsection (d)(2)(A) shall apply to straddles ac-
quired after the date of the enactment of this Act.
SEC. 308. AMENDMENTS RELATED TO THE ECONOMIC
GROWTH AND TAX RELIEF RECONCILIATION
ACT OF 2001.
(a) AMENDMENTS RELATED TO SECTION 617 OF THE
ACT.—
(1) Subclause (II) of section 402(g)(7)(A)(ii) is
amended by striking ‘‘for prior taxable years’’ and
inserting ‘‘permitted for prior taxable years by reason
of this paragraph’’.
(2) Subparagraph (A) of section 3121(v)(1) is
amended by inserting ‘‘or consisting of designated
Roth contributions (as defined in section 402A(c))’’
before the comma at the end.
(b) EFFECTIVE DATE.—The amendments made by this
section shall take effect as if included in the provisions of
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the Economic Growth and Tax Relief Reconciliation Act
of 2001 to which they relate.
SEC. 309. AMENDMENTS RELATED TO THE TAX RELIEF EX-
TENSION ACT OF 1999.
(a) AMENDMENT RELATED TO SECTION 507 OF THE
ACT.—Clause (i) of section 45(e)(7)(A) is amended by strik-
ing ‘‘placed in service by the taxpayer’’ and inserting
‘‘originally placed in service’’.
(b) AMENDMENT RELATED TO SECTION 542 OF THE
ACT.—Clause (ii) of section 856(d)(9)(D) is amended to
read as follows:
‘‘(ii) LODGING
FACILITY.—The term
‘lodging facility’ means a—
‘‘(I) hotel,
‘‘(II) motel, or
‘‘(III) other establishment more
than one-half of the dwelling units in
which are used on a transient basis.’’.
(c) EFFECTIVE DATE.—The amendments made by this
section shall take effect as if included in the provisions of
the Tax Relief Extension Act of 1999 to which they relate.
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(6) Subsection (b) of section 38 is amended—
(A) by striking ‘‘and’’ each place it appears
at the end of any paragraph,
(B) by striking ‘‘plus’’ each place it appears
at the end of any paragraph, and
(C) by inserting ‘‘plus’’ at the end of para-
graph (30).
(7) Paragraphs (2) and (3) of section 45L(c) are
each amended by striking ‘‘section 3280’’ and insert-
ing ‘‘part 3280’’.
(8) Subsection (c) of section 48 is amended by
striking ‘‘subsection’’ in the text preceding paragraph
(1) and inserting ‘‘section’’.
(9) Paragraphs (1)(B) and (2)(B) of section
48(c) are each amended by striking ‘‘paragraph (1)’’
and inserting ‘‘subsection (a)’’.
(10) Clause (ii) of section 48A(d)(4)(B) is
amended by striking ‘‘subsection’’ both places it ap-
pears.
(11) The last sentence of section 125(b)(2) is
amended by striking ‘‘last sentence’’ and inserting
‘‘second sentence’’.
(12) Subclause (II) of section 167(g)(8)(C)(ii) is
amended by striking ‘‘section 263A(j)(2)’’ and insert-
ing ‘‘section 263A(i)(2)’’.
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(13)(A) Clause (vii) of section 170(b)(1)(A) is
amended by striking ‘‘subparagraph (E)’’ and insert-
ing ‘‘subparagraph (F)’’.
(B) Clause (ii) of section 170(e)(1)(B) is amend-
ed by striking ‘‘subsection (b)(1)(E)’’ and inserting
‘‘subsection (b)(1)(F)’’.
(C) Clause (i) of section 1400S(a)(2)(A) is
amended by striking ‘‘subparagraph (F)’’ and insert-
ing ‘‘subparagraph (G)’’.
(D) Subparagraph (A) of section 4942(i)(1) is
amended by striking ‘‘section 170(b)(1)(E)(ii)’’ and
inserting ‘‘section 170(b)(1)(F)(ii)’’.
(14) Subclause (II) of section 170(e)(1)(B)(i) is
amended by inserting ‘‘, but without regard to clause
(ii) thereof’’ after ‘‘paragraph (7)(C)’’.
(15)(A) Subparagraph (A) of section 170(o)(1)
and subparagraph (A) of section 2522(e)(1) are each
amended by striking ‘‘all interest in the property is’’
and inserting ‘‘all interests in the property are’’.
(B) 
Section 
170(o)(3)(A)(i), 
and 
section
2522(e)(2)(A)(i) 
(as 
redesignated 
by 
section
403(d)(2)), are each amended—
(i) by striking ‘‘interest’’ and inserting ‘‘in-
terests’’, and
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(ii) by striking ‘‘before’’ and inserting ‘‘on
or before’’.
(16)(A) Subparagraph (C) of section 852(b)(4) is
amended to read as follows:
‘‘(C) DETERMINATION
OF
HOLDING
PERI-
ODS.—For purposes of this paragraph, in deter-
mining the period for which the taxpayer has
held any share of stock—
‘‘(i) the rules of paragraphs (3) and
(4) of section 246(c) shall apply, and
‘‘(ii) there shall not be taken into ac-
count any day which is more than 6
months after the date on which such share
becomes ex-dividend.’’.
(B) Subparagraph (B) of section 857(b)(8) is
amended to read as follows:
‘‘(B) DETERMINATION
OF
HOLDING
PERI-
ODS.—For purposes of this paragraph, in deter-
mining the period for which the taxpayer has
held any share of stock or beneficial interest—
‘‘(i) the rules of paragraphs (3) and
(4) of section 246(c) shall apply, and
‘‘(ii) there shall not be taken into ac-
count any day which is more than 6
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months after the date on which such share
or interest becomes ex-dividend.’’.
(17) Paragraph (2) of section 856(l) is amended
by striking the last sentence and inserting the fol-
lowing: ‘‘For purposes of subparagraph (B), securities
described in subsection (m)(2)(A) shall not be taken
into account.’’.
(18) Subparagraph (F) of section 954(c)(1) is
amended to read as follows:
‘‘(F) INCOME
FROM
NOTIONAL
PRINCIPAL
CONTRACTS.—
‘‘(i) IN
GENERAL.—Net income from
notional principal contracts.
‘‘(ii) COORDINATION WITH OTHER CAT-
EGORIES OF FOREIGN PERSONAL HOLDING
COMPANY
INCOME.—Any item of income,
gain, deduction, or loss from a notional
principal contract entered into for purposes
of hedging any item described in any pre-
ceding subparagraph shall not be taken into
account for purposes of this subparagraph
but shall be taken into account under such
other subparagraph.’’.
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(19) Paragraph (1) of section 954(c) is amended
by redesignating subparagraph (I) as subparagraph
(H).
(20) Paragraph (33) of section 1016(a), as redes-
ignated by section 407(a)(1)(C), is amended by strik-
ing ‘‘section 25C(e)’’ and inserting ‘‘section 25C(f)’’.
(21) Paragraph (36) of section 1016(a), as redes-
ignated by section 407(a)(1)(C), is amended by strik-
ing 
‘‘section 
30C(f)’’ 
and 
inserting 
‘‘section
30C(e)(1)’’.
(22) Subparagraph (G) of section 1260(c)(2) is
amended by adding ‘‘and’’ at the end.
(23)(A) Section 1297 is amended by striking
subsection (d) and by redesignating subsections (e)
and (f) as subsections (d) and (e), respectively.
(B) Subparagraph (G) of section 1260(c)(2) is
amended by striking ‘‘subsection (e)’’ and inserting
‘‘subsection (d)’’.
(C) Subparagraph (B) of section 1298(a)(2) is
amended by striking ‘‘Section 1297(e)’’ and inserting
‘‘Section 1297(d)’’.
(24) Paragraph (1) of section 1362(f) is
amended—
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(28) Paragraph (4) of section 4101(a) (relating
to registration in event of change of ownership) is re-
designated as paragraph (5).
(29) Paragraph (6) of section 4965(c) is amend-
ed by striking ‘‘section 4457(e)(1)(A)’’ and inserting
‘‘section 457(e)(1)(A)’’.
(30) Subpart C of part II of subchapter A of
chapter 51 is amended by redesignating section 5432
(relating to recordkeeping by wholesale dealers) as sec-
tion 5121.
(31) Paragraph (2) of section 5732(c), as redes-
ignated by section 11125(b)(20)(A) of the SAFETEA–
LU, is amended by striking ‘‘this subpart’’ and in-
serting ‘‘this subchapter’’.
(32) Subsection (b) of section 6046 is amended—
(A) by striking ‘‘subsection (a)(1)’’ and in-
serting ‘‘subsection (a)(1)(A)’’, and
(B) by striking ‘‘paragraph (2) or (3) of
subsection (a)’’ and inserting ‘‘subparagraph (B)
or (C) of subsection (a)(1)’’.
(33)(A) Subparagraph (A) of section 6103(b)(5)
is amended by striking ‘‘the Canal Zone,’’.
(B) Section 7651 is amended by striking para-
graph (4) and by redesignating paragraph (5) as
paragraph (4).
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(34) Subparagraph (A) of section 6211(b)(4) is
amended by striking ‘‘and 34’’ and inserting ‘‘34,
and 35’’.
(35) Subparagraphs (A) and (B) of section
6230(a)(3) are each amended by striking ‘‘section
6013(e)’’ and inserting ‘‘section 6015’’.
(36) Paragraph (3) of section 6427(e) (relating
to termination), as added by section 11113 of the
SAFETEA–LU, is redesignated as paragraph (5) and
moved after paragraph (4).
(37) Clause (ii) of section 6427(l)(4)(A) is
amended by striking ‘‘section 4081(a)(2)(iii)’’ and in-
serting ‘‘section 4081(a)(2)(A)(iii)’’.
(38)(A) Section 6427, as amended by section
1343(b)(1) of the Energy Policy Act of 2005, is
amended by striking subsection (p) (relating to gas-
ohol used in noncommercial aviation) and redesig-
nating subsection (q) as subsection (p).
(B) The Internal Revenue Code of 1986 shall be
applied and administered as if the amendments made
by paragraph (2) of section 11151(a) of the
SAFETEA–LU had never been enacted.
(39) Subsection (a) of section 6695A is amended
by striking ‘‘then such person’’ in paragraph (2) and
inserting the following:
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‘‘then such person’’.
(40) Subparagraph (C) of section 6707A(e)(2) is
amended by striking ‘‘section 6662A(e)(2)(C)’’ and
inserting ‘‘section 6662A(e)(2)(B)’’.
(41)(A) Paragraph (3) of section 9002 is amend-
ed by striking ‘‘section 309(a)(1)’’ and inserting ‘‘sec-
tion 306(a)(1)’’.
(B) Paragraph (1) of section 9004(a) is amended
by striking ‘‘section 320(b)(1)(B)’’ and inserting ‘‘sec-
tion 315(b)(1)(B)’’.
(C) Paragraph (3) of section 9032 is amended by
striking ‘‘section 309(a)(1)’’ and inserting ‘‘section
306(a)(1)’’.
(D) Subsection (b) of section 9034 is amended by
striking ‘‘section 320(b)(1)(A)’’ and inserting ‘‘section
315(b)(1)(A)’’.
(42) Section 9006 is amended by striking
‘‘Comptroller General’’ each place it appears and in-
serting ‘‘Commission’’.
(43) Subsection (c) of section 9503 is amended
by redesignating paragraph (7) (relating to transfers
from the trust fund for certain aviation fuels taxes)
as paragraph (6).
(44) Paragraph (1) of section 1301(g) of the En-
ergy Policy Act of 2005 is amended by striking ‘‘shall
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take effect of the date of the enactment’’ and inserting
‘‘shall take effect on the date of the enactment’’.
(45) The Internal Revenue Code of 1986 shall be
applied and administered as if the amendments made
by section 1(a) of Public Law 109–433 had never
been enacted.
(b) CLERICAL AMENDMENTS RELATED TO THE TAX
RELIEF AND HEALTH CARE ACT OF 2006.—
(1) AMENDMENT RELATED TO SECTION 209 OF
DIVISION A OF THE ACT.—Paragraph (3) of section
168(l) is amended by striking ‘‘enzymatic’’.
(2) AMENDMENTS RELATED TO SECTION 419 OF
DIVISION A OF THE ACT.—
(A) Clause (iv) of section 6724(d)(1)(B) is
amended by inserting ‘‘or (h)(1)’’ after ‘‘section
6050H(a)’’.
(B) Subparagraph (K) of section 6724(d)(2)
is amended by inserting ‘‘or (h)(2)’’ after ‘‘sec-
tion 6050H(d)’’.
(3) EFFECTIVE DATE.—The amendments made
by this subsection shall take effect as if included in
the provision of the Tax Relief and Health Care Act
of 2006 to which they relate.
(c) CLERICAL AMENDMENTS RELATED TO THE GULF
OPPORTUNITY ZONE ACT OF 2005.—
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(1) AMENDMENTS RELATED TO SECTION 402 OF
THE ACT.—Subparagraph (B) of section 24(d)(1) is
amended—
(A) by striking ‘‘the excess (if any) of’’ in
the matter preceding clause (i) and inserting
‘‘the greater of’’, and
(B) by striking ‘‘section’’ in clause (ii)(II)
and inserting ‘‘section 32’’.
(2) EFFECTIVE DATE.—The amendments made
by this subsection shall take effect as if included in
the provisions of the Gulf Opportunity Zone Act of
2005 to which they relate.
(d) CLERICAL AMENDMENTS RELATED TO THE SAFE,
ACCOUNTABLE, FLEXIBLE, EFFICIENT TRANSPORTATION
EQUITY ACT: A LEGACY FOR USERS.—
(1) AMENDMENTS RELATED TO SECTION 11163 OF
THE ACT.—Subparagraph (C) of section 6416(a)(4) is
amended—
(A) by striking ‘‘ultimate vendor’’ and all
that follows through ‘‘has certified’’ and insert-
ing ‘‘ultimate vendor or credit card issuer has
certified’’, and
(B) by striking ‘‘all ultimate purchasers of
the vendor’’ and all that follows through ‘‘are
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(f) CLERICAL AMENDMENTS RELATED TO THE AMER-
ICAN JOBS CREATION ACT OF 2004.—
(1) AMENDMENT RELATED TO SECTION 301 OF
THE ACT.—Section 9502 is amended by striking sub-
section (e) and redesignating subsection (f) as sub-
section (e).
(2) AMENDMENT RELATED TO SECTION 413 OF
THE ACT.—Subsection (b) of section 1298 is amended
by striking paragraph (7) and by redesignating para-
graphs (8) and (9) as paragraphs (7) and (8), respec-
tively.
(3) AMENDMENT RELATED TO SECTION 895 OF
THE
ACT.—Clause (iv) of section 904(f)(3)(D) is
amended by striking ‘‘a controlled group’’ and insert-
ing ‘‘an affiliated group’’.
(4) EFFECTIVE DATE.—The amendments made
by this subsection shall take effect as if included in
the provisions of the American Jobs Creation Act of
2004 to which they relate.
(g) CLERICAL AMENDMENTS RELATED TO THE FSC
REPEAL AND EXTRATERRITORIAL INCOME EXCLUSION ACT
OF 2000.—
(1) Subclause (I) of section 56(g)(4)(C)(ii) is
amended by striking ‘‘921’’ and inserting ‘‘921 (as in
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effect before its repeal by the FSC Repeal and
Extraterritorial Income Exclusion Act of 2000)’’.
(2) Clause (iv) of section 54(g)(4)(C) is amended
by striking ‘‘a cooperative described in section
927(a)(4)’’ and inserting ‘‘an organization to which
part I of subchapter T (relating to tax treatment of
cooperatives) applies which is engaged in the mar-
keting of agricultural or horticultural products’’.
(3) Paragraph (4) of section 245(c) is amended
by adding at the end the following new subparagraph:
‘‘(C) FSC.—The term ‘FSC’ has the mean-
ing given such term by section 922.’’.
(4) Subsection (c) of section 245 is amended by
inserting at the end the following new paragraph:
‘‘(5) REFERENCES
TO
PRIOR
LAW.—Any ref-
erence in this subsection to section 922, 923, or 927
shall be treated as a reference to such section as in
effect before its repeal by the FSC Repeal and
Extraterritorial Income Exclusion Act of 2000.’’.
(5) Paragraph (4) of section 275(a) is amended
by striking ‘‘if’’ and all that follows and inserting ‘‘if
the taxpayer chooses to take to any extent the benefits
of section 901.’’.
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(6)(A) Subsection (a) of section 291 is amended
by striking paragraph (4) and by redesignating para-
graph (5) as paragraph (4).
(B) Paragraph (1) of section 291(c) is amended
by striking ‘‘subsection (a)(5)’’ and inserting ‘‘sub-
section (a)(4)’’.
(7)(A) Paragraph (4) of section 441(b) is amend-
ed by striking ‘‘FSC or’’.
(B) Subsection (h) of section 441 is amended—
(i) by striking ‘‘FSC or’’ each place it ap-
pears, and
(ii) by striking ‘‘FSC’S AND’’ in the heading
thereof.
(8) Subparagraph (B) of section 884(d)(2) is
amended by inserting before the comma ‘‘(as in effect
before their repeal by the FSC Repeal and
Extraterritorial Income Exclusion Act of 2000)’’.
(9) Section 901 is amended by striking sub-
section (h).
(10) Clause (v) of section 904(d)(2)(B) is
amended—
(A) by inserting ‘‘and’’ at the end of sub-
clause (I), by striking subclause (II), and by re-
designating subclause (III) as subclause (II),
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(B) by striking ‘‘a FSC (or a former FSC)’’
in subclause (II) (as so redesignated) and insert-
ing ‘‘a former FSC (as defined in section 922)’’,
and
(C) by adding at the end the following:
‘‘Any reference in subclause (II) to section
922, 923, or 927 shall be treated as a ref-
erence to such section as in effect before its
repeal 
by 
the 
FSC 
Repeal 
and
Extraterritorial Income Exclusion Act of
2000.’’.
(11) Subsection (b) of section 906 is amended by
striking paragraph (5) and redesignating paragraphs
(6) and (7) as paragraphs (5) and (6), respectively.
(12) Subparagraph (B) of section 936(f)(2) is
amended by striking ‘‘FSC or’’.
(13) Section 951 is amended by striking sub-
section (c) and by redesignating subsection (d) as sub-
section (c).
(14) Subsection (b) of section 952 is amended by
striking the second sentence.
(15)(A) Paragraph (2) of section 956(c) is
amended—
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(i) by striking subparagraph (I) and by re-
designating subparagraphs (J) through (M) as
subparagraphs (I) through (L), respectively, and
(ii) by striking ‘‘subparagraphs (J), (K),
and (L)’’ in the flush sentence at the end and in-
serting ‘‘subparagraphs (I), (J), and (K)’’.
(B) Clause (ii) of section 954(c)(2)(C) is amend-
ed by striking ‘‘section 956(c)(2)(J)’’ and inserting
‘‘section 956(c)(2)(I)’’.
(16) Paragraph (1) of section 992(a) is amended
by striking subparagraph (E), by inserting ‘‘and’’ at
the end of subparagraph (C), and by striking ‘‘, and’’
at the end of subparagraph (D) and inserting a pe-
riod.
(17) Paragraph (5) of section 1248(d) is
amended—
(A) by inserting ‘‘(as defined in section
922)’’ after ‘‘a FSC’’, and
(B) by adding at the end the following new
sentence: ‘‘Any reference in this paragraph to
section 922, 923, or 927 shall be treated as a ref-
erence to such section as in effect before its repeal
by the FSC Repeal and Extraterritorial Income
Exclusion Act of 2000.’’.
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(18) Subparagraph (D) of section 1297(b)(2) is
amended by striking ‘‘foreign trade income of a FSC
or’’.
(19)(A) Paragraph (1) of section 6011(c) is
amended by striking ‘‘or former DISC or a FSC or
former FSC’’ and inserting ‘‘, former DISC, or
former FSC (as defined in section 922 as in effect be-
fore 
its 
repeal 
by 
the 
FSC 
Repeal 
and
Extraterritorial Income Exclusion Act of 2000)’’.
(B) Subsection (c) of section 6011 is amended by
striking ‘‘AND FSC’S’’ in the heading thereof.
(20) Subsection (c) of section 6072 is amended
by striking ‘‘a FSC or former FSC’’ and inserting ‘‘a
former FSC (as defined in section 922 as in effect be-
fore 
its 
repeal 
by 
the 
FSC 
Repeal 
and
Extraterritorial Income Exclusion Act of 2000)’’.
(21) Section 6686 is amended by inserting
‘‘FORMER’’ before ‘‘FSC’’ in the heading thereof.
TITLE IV—PARITY IN APPLICA-
TION OF CERTAIN LIMITS TO
MENTAL HEALTH BENEFITS
SEC. 401. PARITY IN APPLICATION OF CERTAIN LIMITS TO
MENTAL HEALTH BENEFITS.
(a) AMENDMENT TO THE INTERNAL REVENUE CODE
OF 1986.—Section 9812(f)(3) of the Internal Revenue Code
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of 1986 is amended by striking ‘‘2007’’ and inserting
‘‘2008’’.
(b) AMENDMENT TO THE EMPLOYEE RETIREMENT IN-
COME SECURITY ACT OF 1974.—Section 712(f) of the Em-
ployee Retirement Income Security Act of 1974 (29 U.S.C.
1185a(f)) is amended by striking ‘‘2007’’ and inserting
‘‘2008’’.
(c) AMENDMENT TO THE PUBLIC HEALTH SERVICE
ACT.—Section 2705(f) of the Public Health Service Act (42
U.S.C. 300gg–5(f)) is amended by striking ‘‘2007’’ and in-
serting ‘‘2008’’.
(d) EFFECTIVE DATE.—The amendments made by this
section shall apply to benefits for services furnished after
December 31, 2007.
Attest:
Secretary.
110TH CONGRESS
1ST SESSION
H. R. 3997
SENATE AMENDMENT TO
HOUSE AMENDMENT TO
SENATE AMENDMENT