I 
113TH CONGRESS 
2D SESSION 
H. R. 5771 
To amend the Internal Revenue Code of 1986 to extend certain expiring 
provisions and make technical corrections, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 1, 2014 
Mr. CAMP introduced the following bill; which was referred to the Committee 
on Ways and Means, and in addition to the Committees on Education 
and the Workforce and the Budget, for a period to be subsequently deter-
mined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to extend 
certain expiring provisions and make technical correc-
tions, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE, ETC. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Tax Increase Prevention Act of 2014’’. 
(b) AMENDMENT OF 1986 CODE.—Except as other-
wise expressly provided, whenever in this Act an amend-
ment or repeal is expressed in terms of an amendment 
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to, or repeal of, a section or other provision, the reference 
shall be considered to be made to a section or other provi-
sion of the Internal Revenue Code of 1986. 
(c) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title, etc. 
TITLE I—CERTAIN EXPIRING PROVISIONS 
Subtitle A—Individual Tax Extenders 
Sec. 101. Extension of deduction for certain expenses of elementary and sec-
ondary school teachers. 
Sec. 102. Extension of exclusion from gross income of discharge of qualified 
principal residence indebtedness. 
Sec. 103. Extension of parity for employer-provided mass transit and parking 
benefits. 
Sec. 104. Extension of mortgage insurance premiums treated as qualified resi-
dence interest. 
Sec. 105. Extension of deduction of State and local general sales taxes. 
Sec. 106. Extension of special rule for contributions of capital gain real prop-
erty made for conservation purposes. 
Sec. 107. Extension of above-the-line deduction for qualified tuition and related 
expenses. 
Sec. 108. Extension of tax-free distributions from individual retirement plans 
for charitable purposes. 
Subtitle B—Business Tax Extenders 
Sec. 111. Extension of research credit. 
Sec. 112. Extension of temporary minimum low-income housing tax credit rate 
for non-federally subsidized buildings. 
Sec. 113. Extension of military housing allowance exclusion for determining 
whether a tenant in certain counties is low-income. 
Sec. 114. Extension of Indian employment tax credit. 
Sec. 115. Extension of new markets tax credit. 
Sec. 116. Extension of railroad track maintenance credit. 
Sec. 117. Extension of mine rescue team training credit. 
Sec. 118. Extension of employer wage credit for employees who are active duty 
members of the uniformed services. 
Sec. 119. Extension of work opportunity tax credit. 
Sec. 120. Extension of qualified zone academy bonds. 
Sec. 121. Extension of classification of certain race horses as 3-year property. 
Sec. 122. Extension of 15-year straight-line cost recovery for qualified leasehold 
improvements, qualified restaurant buildings and improve-
ments, and qualified retail improvements. 
Sec. 123. Extension of 7-year recovery period for motorsports entertainment 
complexes. 
Sec. 124. Extension of accelerated depreciation for business property on an In-
dian reservation. 
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Sec. 125. Extension of bonus depreciation. 
Sec. 126. Extension of enhanced charitable deduction for contributions of food 
inventory. 
Sec. 127. Extension of increased expensing limitations and treatment of certain 
real property as section 179 property. 
Sec. 128. Extension of election to expense mine safety equipment. 
Sec. 129. Extension of special expensing rules for certain film and television 
productions. 
Sec. 130. Extension of deduction allowable with respect to income attributable 
to domestic production activities in Puerto Rico. 
Sec. 131. Extension of modification of tax treatment of certain payments to 
controlling exempt organizations. 
Sec. 132. Extension of treatment of certain dividends of regulated investment 
companies. 
Sec. 133. Extension of RIC qualified investment entity treatment under 
FIRPTA. 
Sec. 134. Extension of subpart F exception for active financing income. 
Sec. 135. Extension of look-thru treatment of payments between related con-
trolled foreign corporations under foreign personal holding 
company rules. 
Sec. 136. Extension of temporary exclusion of 100 percent of gain on certain 
small business stock. 
Sec. 137. Extension of basis adjustment to stock of S corporations making 
charitable contributions of property. 
Sec. 138. Extension of reduction in S-corporation recognition period for built- 
in gains tax. 
Sec. 139. Extension of empowerment zone tax incentives. 
Sec. 140. Extension of temporary increase in limit on cover over of rum excise 
taxes to Puerto Rico and the Virgin Islands. 
Sec. 141. Extension of American Samoa economic development credit. 
Subtitle C—Energy Tax Extenders 
Sec. 151. Extension of credit for nonbusiness energy property. 
Sec. 152. Extension of second generation biofuel producer credit. 
Sec. 153. Extension of incentives for biodiesel and renewable diesel. 
Sec. 154. Extension of production credit for Indian coal facilities placed in serv-
ice before 2009. 
Sec. 155. Extension of credits with respect to facilities producing energy from 
certain renewable resources. 
Sec. 156. Extension of credit for energy-efficient new homes. 
Sec. 157. Extension of special allowance for second generation biofuel plant 
property. 
Sec. 158. Extension of energy efficient commercial buildings deduction. 
Sec. 159. Extension of special rule for sales or dispositions to implement FERC 
or State electric restructuring policy for qualified electric utili-
ties. 
Sec. 160. Extension of excise tax credits relating to certain fuels. 
Subtitle D—Extenders Relating to Multiemployer Defined Benefit Pension 
Plans 
Sec. 171. Extension of automatic extension of amortization periods. 
Sec. 172. Extension of shortfall funding method and endangered and critical 
rules. 
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TITLE II—TECHNICAL CORRECTIONS 
Sec. 201. Short title. 
Sec. 202. Amendments relating to American Taxpayer Relief Act of 2012. 
Sec. 203. Amendment relating to Middle Class Tax Relief and Job Creation Act 
of 2012. 
Sec. 204. Amendment relating to FAA Modernization and Reform Act of 2012. 
Sec. 205. Amendments relating to Regulated Investment Company Moderniza-
tion Act of 2010. 
Sec. 206. Amendments relating to Tax Relief, Unemployment Insurance Reau-
thorization, and Job Creation Act of 2010. 
Sec. 207. Amendments relating to Creating Small Business Jobs Act of 2010. 
Sec. 208. Clerical amendment relating to Hiring Incentives to Restore Employ-
ment Act. 
Sec. 209. Amendments relating to American Recovery and Reinvestment Tax 
Act of 2009. 
Sec. 210. Amendments relating to Energy Improvement and Extension Act of 
2008. 
Sec. 211. Amendments relating to Tax Extenders and Alternative Minimum 
Tax Relief Act of 2008. 
Sec. 212. Clerical amendments relating to Housing Assistance Tax Act of 2008. 
Sec. 213. Amendments and provision relating to Heroes Earnings Assistance 
and Relief Tax Act of 2008. 
Sec. 214. Amendments relating to Economic Stimulus Act of 2008. 
Sec. 215. Amendments relating to Tax Technical Corrections Act of 2007. 
Sec. 216. Amendment relating to Tax Relief and Health Care Act of 2006. 
Sec. 217. Amendment relating to Safe, Accountable, Flexible, Efficient Trans-
portation Equity Act of 2005: A Legacy for Users. 
Sec. 218. Amendments relating to Energy Tax Incentives Act of 2005. 
Sec. 219. Amendments relating to American Jobs Creation Act of 2004. 
Sec. 220. Other clerical corrections. 
Sec. 221. Deadwood provisions. 
TITLE III—JOINT COMMITTEE ON TAXATION 
Sec. 301. Increased refund and credit threshold for Joint Committee on Tax-
ation review of C corporation return. 
TITLE IV—BUDGETARY EFFECTS 
Sec. 401. Budgetary effects. 
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TITLE I—CERTAIN EXPIRING 
PROVISIONS 
Subtitle A—Individual Tax 
Extenders 
SEC. 101. EXTENSION OF DEDUCTION FOR CERTAIN EX-
PENSES OF ELEMENTARY AND SECONDARY 
SCHOOL TEACHERS. 
(a) IN GENERAL.—Subparagraph (D) of section 
62(a)(2) is amended by striking ‘‘or 2013’’ and inserting 
‘‘2013, or 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
SEC. 102. EXTENSION OF EXCLUSION FROM GROSS INCOME 
OF DISCHARGE OF QUALIFIED PRINCIPAL 
RESIDENCE INDEBTEDNESS. 
(a) IN GENERAL.—Subparagraph (E) of section 
108(a)(1) is amended by striking ‘‘January 1, 2014’’ and 
inserting ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to indebtedness discharged after 
December 31, 2013. 
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SEC. 103. EXTENSION OF PARITY FOR EMPLOYER-PRO-
VIDED MASS TRANSIT AND PARKING BENE-
FITS. 
(a) IN GENERAL.—Paragraph (2) of section 132(f) 
is amended by striking ‘‘January 1, 2014’’ and inserting 
‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to months after December 31, 
2013. 
SEC. 104. EXTENSION OF MORTGAGE INSURANCE PRE-
MIUMS TREATED AS QUALIFIED RESIDENCE 
INTEREST. 
(a) 
IN
GENERAL.—Subclause 
(I) 
of 
section 
163(h)(3)(E)(iv) is amended by striking ‘‘December 31, 
2013’’ and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to amounts paid or accrued after 
December 31, 2013. 
SEC. 105. EXTENSION OF DEDUCTION OF STATE AND LOCAL 
GENERAL SALES TAXES. 
(a) IN
GENERAL.—Subparagraph (I) of section 
164(b)(5) is amended by striking ‘‘January 1, 2014’’ and 
inserting ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
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SEC. 106. EXTENSION OF SPECIAL RULE FOR CONTRIBU-
TIONS OF CAPITAL GAIN REAL PROPERTY 
MADE FOR CONSERVATION PURPOSES. 
(a) 
IN
GENERAL.—Clause 
(vi) 
of 
section 
170(b)(1)(E) is amended by striking ‘‘December 31, 
2013’’ and inserting ‘‘December 31, 2014’’. 
(b) CONTRIBUTIONS BY CERTAIN CORPORATE FARM-
ERS AND RANCHERS.—Clause (iii) of section 170(b)(2)(B) 
is amended by striking ‘‘December 31, 2013’’ and insert-
ing ‘‘December 31, 2014’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to contributions made in taxable 
years beginning after December 31, 2013. 
SEC. 107. EXTENSION OF ABOVE-THE-LINE DEDUCTION FOR 
QUALIFIED 
TUITION 
AND 
RELATED 
EX-
PENSES. 
(a) IN GENERAL.—Subsection (e) of section 222 is 
amended by striking ‘‘December 31, 2013’’ and inserting 
‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
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SEC. 108. EXTENSION OF TAX-FREE DISTRIBUTIONS FROM 
INDIVIDUAL RETIREMENT PLANS FOR CHARI-
TABLE PURPOSES. 
(a) IN GENERAL.—Subparagraph (F) of section 
408(d)(8) is amended by striking ‘‘December 31, 2013’’ 
and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to distributions made in taxable 
years beginning after December 31, 2013. 
Subtitle B—Business Tax 
Extenders 
SEC. 111. EXTENSION OF RESEARCH CREDIT. 
(a) IN GENERAL.—Paragraph (1) of section 41(h) is 
amended by striking ‘‘paid or incurred’’ and all that fol-
lows and inserting ‘‘paid or incurred after December 31, 
2014.’’. 
(b) CONFORMING AMENDMENT.—Subparagraph (D) 
of section 45C(b)(1) is amended to read as follows: 
‘‘(D) SPECIAL RULE.—If section 41 is not 
in effect for any period, such section shall be 
deemed to remain in effect for such period for 
purposes of this paragraph.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to amounts paid or incurred after 
December 31, 2013. 
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SEC. 112. EXTENSION OF TEMPORARY MINIMUM LOW-IN-
COME HOUSING TAX CREDIT RATE FOR NON- 
FEDERALLY SUBSIDIZED BUILDINGS. 
(a) IN GENERAL.—Subparagraph (A) of section 
42(b)(2) is amended by striking ‘‘January 1, 2014’’ and 
inserting ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall take effect on January 1, 2014. 
SEC. 113. EXTENSION OF MILITARY HOUSING ALLOWANCE 
EXCLUSION FOR DETERMINING WHETHER A 
TENANT IN CERTAIN COUNTIES IS LOW-IN-
COME. 
(a) IN GENERAL.—Subsection (b) of section 3005 of 
the Housing Assistance Tax Act of 2008 is amended by 
striking ‘‘January 1, 2014’’ each place it appears and in-
serting ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall take effect as if included in the enact-
ment of section 3005 of the Housing Assistance Tax Act 
of 2008. 
SEC. 114. EXTENSION OF INDIAN EMPLOYMENT TAX CRED-
IT. 
(a) IN GENERAL.—Subsection (f) of section 45A is 
amended by striking ‘‘December 31, 2013’’ and inserting 
‘‘December 31, 2014’’. 
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SEC. 120. EXTENSION OF QUALIFIED ZONE ACADEMY 
BONDS. 
(a) EXTENSION.—Paragraph (1) of section 54E(c) is 
amended by striking ‘‘and 2013’’ and inserting ‘‘2013, 
and 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to obligations issued after Decem-
ber 31, 2013. 
SEC. 121. EXTENSION OF CLASSIFICATION OF CERTAIN 
RACE HORSES AS 3-YEAR PROPERTY. 
(a) IN GENERAL.—Clause (i) of section 168(e)(3)(A) 
is amended— 
(1) by striking ‘‘January 1, 2014’’ in subclause 
(I) and inserting ‘‘January 1, 2015’’, and 
(2) by striking ‘‘December 31, 2013’’ in sub-
clause (II) and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to property placed in service after 
December 31, 2013. 
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SEC. 122. EXTENSION OF 15-YEAR STRAIGHT-LINE COST RE-
COVERY FOR QUALIFIED LEASEHOLD IM-
PROVEMENTS, 
QUALIFIED 
RESTAURANT 
BUILDINGS 
AND 
IMPROVEMENTS, 
AND 
QUALIFIED RETAIL IMPROVEMENTS. 
(a) IN GENERAL.—Clauses (iv), (v), and (ix) of sec-
tion 168(e)(3)(E) are each amended by striking ‘‘January 
1, 2014’’ and inserting ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to property placed in service after 
December 31, 2013. 
SEC. 123. EXTENSION OF 7-YEAR RECOVERY PERIOD FOR 
MOTORSPORTS 
ENTERTAINMENT 
COM-
PLEXES. 
(a) IN GENERAL.—Subparagraph (D) of section 
168(i)(15) is amended by striking ‘‘December 31, 2013’’ 
and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to property placed in service after 
December 31, 2013. 
SEC. 124. EXTENSION OF ACCELERATED DEPRECIATION 
FOR BUSINESS PROPERTY ON AN INDIAN 
RESERVATION. 
(a) IN GENERAL.—Paragraph (8) of section 168(j) 
is amended by striking ‘‘December 31, 2013’’ and insert-
ing ‘‘December 31, 2014’’. 
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(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to property placed in service after 
December 31, 2013. 
SEC. 125. EXTENSION OF BONUS DEPRECIATION. 
(a) IN GENERAL.—Paragraph (2) of section 168(k) 
is amended— 
(1) by striking ‘‘January 1, 2015’’ in subpara-
graph (A)(iv) and inserting ‘‘January 1, 2016’’, and 
(2) by striking ‘‘January 1, 2014’’ each place 
it appears and inserting ‘‘January 1, 2015’’. 
(b) SPECIAL RULE FOR FEDERAL LONG-TERM CON-
TRACTS.—Clause (ii) of section 460(c)(6)(B) is amended 
by striking ‘‘January 1, 2014 (January 1, 2015’’ and in-
serting ‘‘January 1, 2015 (January 1, 2016’’. 
(c) EXTENSION OF ELECTION TO ACCELERATE THE 
AMT CREDIT IN LIEU OF BONUS DEPRECIATION.— 
(1) IN
GENERAL.—Subclause (II) of section 
168(k)(4)(D)(iii) is amended by striking ‘‘January 
1, 2014’’ and inserting ‘‘January 1, 2015’’. 
(2) ROUND
EXTENSION
PROPERTY.—Para-
graph (4) of section 168(k) is amended by adding at 
the end the following new subparagraph: 
‘‘(K) SPECIAL RULES FOR ROUND 4 EX-
TENSION PROPERTY.— 
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‘‘(i) IN
GENERAL.—In the case of 
round 4 extension property, in applying 
this paragraph to any taxpayer— 
‘‘(I) the limitation described in 
subparagraph (B)(i) and the business 
credit increase amount under sub-
paragraph (E)(iii) thereof shall not 
apply, and 
‘‘(II) 
the 
bonus 
depreciation 
amount, maximum amount, and max-
imum increase amount shall be com-
puted separately from amounts com-
puted with respect to eligible qualified 
property which is not round 4 exten-
sion property. 
‘‘(ii) ELECTION.— 
‘‘(I) A taxpayer who has an elec-
tion in effect under this paragraph for 
round 3 extension property shall be 
treated as having an election in effect 
for round 4 extension property unless 
the taxpayer elects to not have this 
paragraph apply to round 4 extension 
property. 
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‘‘(II) A taxpayer who does not 
have an election in effect under this 
paragraph for round 3 extension prop-
erty may elect to have this paragraph 
apply to round 4 extension property. 
‘‘(iii) ROUND
EXTENSION
PROP-
ERTY.—For purposes of this subpara-
graph, the term ‘round 4 extension prop-
erty’ means property which is eligible 
qualified property solely by reason of the 
extension of the application of the special 
allowance under paragraph (1) pursuant to 
the amendments made by section 125(a) of 
the Tax Increase Prevention Act of 2014 
(and the application of such extension to 
this paragraph pursuant to the amendment 
made by section 125(c) of such Act).’’. 
(d) CONFORMING AMENDMENTS.— 
(1) The heading for subsection (k) of section 
168 is amended by striking ‘‘JANUARY 1, 2014’’ and 
inserting ‘‘JANUARY 1, 2015’’. 
(2) The heading for clause (ii) of section 
168(k)(2)(B) is amended by striking ‘‘PRE-JANUARY 
1, 2014’’ and inserting ‘‘PRE-JANUARY 1, 2015’’. 
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(3) Subparagraph (C) of section 168(n)(2) is 
amended by striking ‘‘January 1, 2014’’ and insert-
ing ‘‘January 1, 2015’’. 
(4) Subparagraph (D) of section 1400L(b)(2) is 
amended by striking ‘‘January 1, 2014’’ and insert-
ing ‘‘January 1, 2015’’. 
(5) Subparagraph (B) of section 1400N(d)(3) 
is amended by striking ‘‘January 1, 2014’’ and in-
serting ‘‘January 1, 2015’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to property placed in service after 
December 31, 2013, in taxable years ending after such 
date. 
SEC. 126. EXTENSION OF ENHANCED CHARITABLE DEDUC-
TION FOR CONTRIBUTIONS OF FOOD INVEN-
TORY. 
(a) 
IN
GENERAL.—Clause 
(iv) 
of 
section 
170(e)(3)(C) is amended by striking ‘‘December 31, 
2013’’ and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to contributions made after De-
cember 31, 2013. 
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SEC. 127. EXTENSION OF INCREASED EXPENSING LIMITA-
TIONS AND TREATMENT OF CERTAIN REAL 
PROPERTY AS SECTION 179 PROPERTY. 
(a) IN GENERAL.— 
(1) DOLLAR LIMITATION.—Section 179(b)(1) is 
amended— 
(A) by striking ‘‘beginning in 2010, 2011, 
2012, or 2013’’ in subparagraph (B) and in-
serting ‘‘beginning after 2009 and before 
2015’’, and 
(B) by striking ‘‘2013’’ in subparagraph 
(C) and inserting ‘‘2014’’. 
(2) 
REDUCTION
IN
LIMITATION.—Section 
179(b)(2) is amended— 
(A) by striking ‘‘beginning in 2010, 2011, 
2012, or 2013’’ in subparagraph (B) and in-
serting ‘‘beginning after 2009 and before 
2015’’, and 
(B) by striking ‘‘2013’’ in subparagraph 
(C) and inserting ‘‘2014’’. 
(b) 
COMPUTER
SOFTWARE.—Section 
179(d)(1)(A)(ii) is amended by striking ‘‘2014’’ and in-
serting ‘‘2015’’. 
(c) ELECTION.—Section 179(c)(2) is amended by 
striking ‘‘2014’’ and inserting ‘‘2015’’. 
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(d) SPECIAL RULES FOR TREATMENT OF QUALIFIED 
REAL PROPERTY.— 
(1) IN GENERAL.—Section 179(f)(1) is amend-
ed by striking ‘‘beginning in 2010, 2011, 2012, or 
2013’’ and inserting ‘‘beginning after 2009 and be-
fore 2015’’. 
(2) CARRYOVER LIMITATION.— 
(A) IN
GENERAL.—Section 179(f)(4) is 
amended by striking ‘‘2013’’ each place it ap-
pears and inserting ‘‘2014’’. 
(B) 
CONFORMING
AMENDMENT.—The 
heading 
of 
subparagraph 
(C) 
of 
section 
179(f)(4) is amended by striking ‘‘2011
AND 
2012’’ and inserting ‘‘2011, 2012, AND 2013’’. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
SEC. 128. EXTENSION OF ELECTION TO EXPENSE MINE 
SAFETY EQUIPMENT. 
(a) IN GENERAL.—Subsection (g) of section 179E is 
amended by striking ‘‘December 31, 2013’’ and inserting 
‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to property placed in service after 
December 31, 2013. 
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SEC. 129. EXTENSION OF SPECIAL EXPENSING RULES FOR 
CERTAIN FILM AND TELEVISION PRODUC-
TIONS. 
(a) IN GENERAL.—Subsection (f) of section 181 is 
amended by striking ‘‘December 31, 2013’’ and inserting 
‘‘December 31, 2014’’. 
(b) EFFECTIVE DATES.—The amendment made by 
this section shall apply to productions commencing after 
December 31, 2013. 
SEC. 130. EXTENSION OF DEDUCTION ALLOWABLE WITH 
RESPECT TO INCOME ATTRIBUTABLE TO DO-
MESTIC PRODUCTION ACTIVITIES IN PUERTO 
RICO. 
(a) IN GENERAL.—Subparagraph (C) of section 
199(d)(8) is amended— 
(1) by striking ‘‘first 8 taxable years’’ and in-
serting ‘‘first 9 taxable years’’, and 
(2) by striking ‘‘January 1, 2014’’ and insert-
ing ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
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SEC. 131. EXTENSION OF MODIFICATION OF TAX TREAT-
MENT OF CERTAIN PAYMENTS TO CONTROL-
LING EXEMPT ORGANIZATIONS. 
(a) 
IN
GENERAL.—Clause 
(iv) 
of 
section 
512(b)(13)(E) is amended by striking ‘‘December 31, 
2013’’ and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to payments received or accrued 
after December 31, 2013. 
SEC. 132. EXTENSION OF TREATMENT OF CERTAIN DIVI-
DENDS OF REGULATED INVESTMENT COMPA-
NIES. 
(a) 
IN
GENERAL.—Paragraphs 
(1)(C)(v) 
and 
(2)(C)(v) of section 871(k) are each amended by striking 
‘‘December 31, 2013’’ and inserting ‘‘December 31, 
2014’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
SEC. 133. EXTENSION OF RIC QUALIFIED INVESTMENT EN-
TITY TREATMENT UNDER FIRPTA. 
(a) 
IN
GENERAL.—Clause 
(ii) 
of 
section 
897(h)(4)(A) is amended by striking ‘‘December 31, 
2013’’ and inserting ‘‘December 31, 2014’’. 
(b) EFFECTIVE DATE.— 
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(1) IN
GENERAL.—The amendment made by 
this section shall take effect on January 1, 2014. 
Notwithstanding 
the 
preceding 
sentence, 
such 
amendment shall not apply with respect to the with-
holding requirement under section 1445 of the Inter-
nal Revenue Code of 1986 for any payment made 
before the date of the enactment of this Act. 
(2) AMOUNTS WITHHELD ON OR BEFORE DATE 
OF ENACTMENT.—In the case of a regulated invest-
ment company— 
(A) which makes a distribution after De-
cember 31, 2013, and before the date of the en-
actment of this Act, and 
(B) which would (but for the second sen-
tence of paragraph (1)) have been required to 
withhold with respect to such distribution under 
section 1445 of such Code, 
such investment company shall not be liable to any 
person to whom such distribution was made for any 
amount so withheld and paid over to the Secretary 
of the Treasury. 
SEC. 134. EXTENSION OF SUBPART F EXCEPTION FOR AC-
TIVE FINANCING INCOME. 
(a) EXEMPT INSURANCE INCOME.—Paragraph (10) 
of section 953(e) is amended— 
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(1) by striking ‘‘January 1, 2014’’ and insert-
ing ‘‘January 1, 2015’’, and 
(2) by striking ‘‘December 31, 2013’’ and in-
serting ‘‘December 31, 2014’’. 
(b) SPECIAL RULE FOR INCOME DERIVED IN THE 
ACTIVE CONDUCT OF BANKING, FINANCING, OR SIMILAR 
BUSINESSES.—Paragraph (9) of section 954(h) is amend-
ed by striking ‘‘January 1, 2014’’ and inserting ‘‘January 
1, 2015’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years of foreign corpora-
tions beginning after December 31, 2013, and to taxable 
years of United States shareholders with or within which 
any such taxable year of such foreign corporation ends. 
SEC. 135. EXTENSION OF LOOK-THRU TREATMENT OF PAY-
MENTS BETWEEN RELATED CONTROLLED 
FOREIGN CORPORATIONS UNDER FOREIGN 
PERSONAL HOLDING COMPANY RULES. 
(a) IN GENERAL.—Subparagraph (C) of section 
954(c)(6) is amended by striking ‘‘January 1, 2014’’ and 
inserting ‘‘January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years of foreign corpora-
tions beginning after December 31, 2013, and to taxable 
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of section 1212(a)(3)(A)’’ before the period at 
the end. 
(b) AMENDMENT RELATING
TO SECTION 304.— 
Paragraph (1) of section 855(a) is amended by inserting 
‘‘on or’’ before ‘‘before’’. 
(c) AMENDMENTS RELATING TO SECTION 308.— 
(1) Paragraph (8) of section 852(b) is amended 
by redesignating subparagraph (E) as subparagraph 
(G) and by striking subparagraphs (C) and (D) and 
inserting the following new subparagraphs: 
‘‘(C) POST-OCTOBER CAPITAL LOSS.—For 
purposes of this paragraph, the term ‘post-Oc-
tober capital loss’ means— 
‘‘(i) any net capital loss attributable 
to the portion of the taxable year after Oc-
tober 31, or 
‘‘(ii) if there is no such loss— 
‘‘(I) any net long-term capital 
loss attributable to such portion of the 
taxable year, or 
‘‘(II) any net short-term capital 
loss attributable to such portion of the 
taxable year. 
‘‘(D) LATE-YEAR
ORDINARY
LOSS.—For 
purposes of this paragraph, the term ‘late-year 
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(1) Paragraph (6) of section 164(b) is amended 
by striking subparagraph (E) and by redesignating 
subparagraphs (F) and (G) as subparagraphs (E) 
and (F), respectively. 
(2) Subparagraphs (E) and (F) of section 
164(b)(6), as so redesignated, are each amended by 
striking ‘‘This paragraph’’ and inserting ‘‘Subsection 
(a)(6)’’. 
(d) AMENDMENT RELATING TO SECTION 1104.— 
Subparagraph (A) of section 48(d)(3) is amended by in-
serting ‘‘or alternative minimum taxable income’’ after 
‘‘includible in the gross income’’. 
(e) AMENDMENTS RELATING TO SECTION 1141.— 
(1) Subsection (f) of section 30D is amended— 
(A) by inserting ‘‘(determined without re-
gard to subsection (c))’’ before the period at the 
end of paragraph (1), and 
(B) by inserting ‘‘(determined without re-
gard to subsection (c))’’ before the period at the 
end of paragraph (2). 
(2) Paragraph (3) of section 30D(f) is amended 
by adding at the end the following: ‘‘For purposes 
of subsection (c), property to which this paragraph 
applies shall be treated as of a character subject to 
an allowance for depreciation.’’. 
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