In the Senate of the United States, 
February 24, 2010. 
Resolved, That the Senate agrees to the amendment of 
the House of Representatives to the amendment of the Sen-
ate to the bill (H.R. 2847) entitled ‘‘An Act making appro-
priations for the Departments of Commerce and Justice, and 
Science, and Related Agencies for the fiscal year ending Sep-
tember 30, 2010, and for other purposes.’’, with the following 
SENATE AMENDMENT TO HOUSE AMENDMENT TO 
SENATE AMENDMENT: 
In lieu of the matter proposed to be inserted by the 
amendment of the House to the amendment of the Sen-
ate insert the following: 
SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE; 
TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Hiring Incentives to Restore Employment Act’’. 
(b) AMENDMENT OF 1986 CODE.—Except as otherwise 
expressly provided, whenever in this Act an amendment or 
repeal is expressed in terms of an amendment to, or repeal
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of, a section or other provision, the reference shall be consid-
ered to be made to a section or other provision of the Inter-
nal Revenue Code of 1986. 
(c) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title; amendment of 1986 Code; table of contents. 
TITLE I—INCENTIVES FOR HIRING AND RETAINING UNEMPLOYED 
WORKERS 
Sec. 101. Payroll tax forgiveness for hiring unemployed workers. 
Sec. 102. Business credit for retention of certain newly hired individuals in 2010. 
TITLE II—EXPENSING 
Sec. 201. Increase in expensing of certain depreciable business assets. 
TITLE III—QUALIFIED TAX CREDIT BONDS 
Sec. 301. Issuer allowed refundable credit for certain qualified tax credit bonds. 
TITLE IV—EXTENSION OF CURRENT SURFACE TRANSPORTATION 
PROGRAMS 
Sec. 401. Short title. 
Subtitle A—Federal-aid Highways 
Sec. 411. In general. 
Sec. 412. Administrative expenses. 
Sec. 413. Rescission of unobligated balances. 
Sec. 414. Reconciliation of funds. 
Subtitle B—National Highway Traffic Safety Administration, Federal Motor 
Carrier Safety Administration, and Additional Programs 
Sec. 421. Extension of National Highway Traffic Safety Administration High-
way Safety Programs. 
Sec. 422. Extension of Federal Motor Carrier Safety Administration Programs. 
Sec. 423. Additional programs. 
Subtitle C—Public Transportation Programs 
Sec. 431. Allocation of funds for planning programs. 
Sec. 432. Special rule for urbanized area formula grants. 
Sec. 433. Allocating amounts for capital investment grants. 
Sec. 434. Apportionment of formula grants for other than urbanized areas. 
Sec. 435. Apportionment based on fixed guideway factors. 
Sec. 436. Authorizations for public transportation. 
Sec. 437. Amendments to SAFETEA–LU.
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Subtitle D—Revenue Provisions 
Sec. 441. Repeal of provision prohibiting the crediting of interest to the Highway 
Trust Fund. 
Sec. 442. Restoration of certain foregone interest to Highway Trust Fund. 
Sec. 443. Treatment of certain amounts appropriated to Highway Trust Fund. 
Sec. 444. Termination of transfers from highway trust fund for certain repay-
ments and credits. 
Sec. 445. Extension of authority for expenditures. 
Sec. 446. Level of obligation limitations. 
TITLE V—OFFSET PROVISIONS 
Subtitle A—Foreign Account Tax Compliance 
PART I—INCREASED DISCLOSURE OF BENEFICIAL OWNERS 
Sec. 501. Reporting on certain foreign accounts. 
Sec. 502. Repeal of certain foreign exceptions to registered bond requirements. 
PART II—UNDER REPORTING WITH RESPECT TO FOREIGN ASSETS 
Sec. 511. Disclosure of information with respect to foreign financial assets. 
Sec. 512. Penalties for underpayments attributable to undisclosed foreign finan-
cial assets. 
Sec. 513. Modification of statute of limitations for significant omission of income 
in connection with foreign assets. 
PART III—OTHER DISCLOSURE PROVISIONS 
Sec. 521. Reporting of activities with respect to passive foreign investment com-
panies. 
Sec. 522. Secretary permitted to require financial institutions to file certain re-
turns related to withholding on foreign transfers electronically. 
PART IV—PROVISIONS RELATED TO FOREIGN TRUSTS 
Sec. 531. Clarifications with respect to foreign trusts which are treated as having 
a United States beneficiary. 
Sec. 532. Presumption that foreign trust has United States beneficiary. 
Sec. 533. Uncompensated use of trust property. 
Sec. 534. Reporting requirement of United States owners of foreign trusts. 
Sec. 535. Minimum penalty with respect to failure to report on certain foreign 
trusts. 
PART V—SUBSTITUTE DIVIDENDS AND DIVIDEND EQUIVALENT PAYMENTS 
RECEIVED BY FOREIGN PERSONS TREATED AS DIVIDENDS 
Sec. 541. Substitute dividends and dividend equivalent payments received by for-
eign persons treated as dividends. 
Subtitle B—Delay in Application of Worldwide Allocation of Interest 
Sec. 551. Delay in application of worldwide allocation of interest.
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TITLE I—INCENTIVES FOR HIR-
ING AND RETAINING UNEM-
PLOYED WORKERS 
SEC. 101. PAYROLL TAX FORGIVENESS FOR HIRING UNEM-
PLOYED WORKERS. 
(a) IN GENERAL.—Section 3111 is amended by adding 
at the end the following new subsection: 
‘‘(d) SPECIAL EXEMPTION FOR CERTAIN INDIVIDUALS 
HIRED IN 2010.— 
‘‘(1) IN
GENERAL.—Subsection (a) shall not 
apply to wages paid by a qualified employer with re-
spect to employment during the period beginning on 
the day after the date of the enactment of this sub-
section and ending on December 31, 2010, of any 
qualified individual for services performed— 
‘‘(A) in a trade or business of such qualified 
employer, or 
‘‘(B) in the case of a qualified employer ex-
empt from tax under section 501(a), in further-
ance of the activities related to the purpose or 
function constituting the basis of the employer’s 
exemption under section 501. 
‘‘(2) QUALIFIED
EMPLOYER.—For purposes of 
this subsection—
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‘‘(A) IN GENERAL.—The term ‘qualified em-
ployer’ means any employer other than the 
United States, any State, or any political sub-
division thereof, or any instrumentality of the 
foregoing. 
‘‘(B) TREATMENT OF EMPLOYEES OF POST- 
SECONDARY
EDUCATIONAL
INSTITUTIONS.—Not-
withstanding subparagraph (A), the term ‘quali-
fied employer’ includes any employer which is a 
public institution of higher education (as defined 
in section 101(b) of the Higher Education Act of 
1965). 
‘‘(3) QUALIFIED INDIVIDUAL.—For purposes of 
this subsection, the term ‘qualified individual’ means 
any individual who— 
‘‘(A) begins employment with a qualified 
employer after February 3, 2010, and before 
January 1, 2011, 
‘‘(B) certifies by signed affidavit, under 
penalties of perjury, that such individual has not 
been employed for more than 40 hours during the 
60-day period ending on the date such indi-
vidual begins such employment, 
‘‘(C) is not employed by the qualified em-
ployer to replace another employee of such em-
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ployer unless such other employee separated from 
employment voluntarily or for cause, and 
‘‘(D) is not an individual described in sec-
tion 51(i)(1) (applied by substituting ‘qualified 
employer’ for ‘taxpayer’ each place it appears). 
‘‘(4) ELECTION.—A qualified employer may elect 
to have this subsection not apply. Such election shall 
be made in such manner as the Secretary may re-
quire.’’. 
(b) COORDINATION WITH WORK OPPORTUNITY CRED-
IT.—Section 51(c) is amended by adding at the end the fol-
lowing new paragraph: 
‘‘(5) COORDINATION
WITH
PAYROLL
TAX
FOR-
GIVENESS.—The term ‘wages’ shall not include any 
amount paid or incurred to a qualified individual (as 
defined in section 3111(d)(3)) during the 1-year pe-
riod beginning on the hiring date of such individual 
by a qualified employer (as defined in section 
3111(d)) unless such qualified employer makes an 
election not to have section 3111(d) apply.’’. 
(c) TRANSFERS
TO FEDERAL OLD-AGE
AND SUR-
VIVORS INSURANCE TRUST FUND.—There are hereby ap-
propriated to the Federal Old-Age and Survivors Trust 
Fund and the Federal Disability Insurance Trust Fund es-
tablished under section 201 of the Social Security Act (42
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U.S.C. 401) amounts equal to the reduction in revenues to 
the Treasury by reason of the amendments made by sub-
section (a). Amounts appropriated by the preceding sen-
tence shall be transferred from the general fund at such 
times and in such manner as to replicate to the extent pos-
sible the transfers which would have occurred to such Trust 
Fund had such amendments not been enacted. 
(d) EFFECTIVE DATE.—The amendments made by this 
section shall apply to wages paid after the date of the enact-
ment of this Act. 
SEC. 102. BUSINESS CREDIT FOR RETENTION OF CERTAIN 
NEWLY HIRED INDIVIDUALS IN 2010. 
(a) IN GENERAL.—In the case of any taxable year end-
ing after the date of the enactment of this Act, the current 
year business credit determined under section 38(b) of the 
Internal Revenue Code of 1986 for such taxable year shall 
be increased by an amount equal to the product of— 
(1) $1,000, and 
(2) the number of retained workers with respect 
to which subsection (b)(2) is first satisfied during 
such taxable year. 
(b) RETAINED WORKER.—For purposes of this section, 
the term ‘‘retained worker’’ means any qualified individual 
(as defined in section 3111(d)(3) of the Internal Revenue 
Code of 1986)—
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(1) who was employed by the taxpayer on any 
date during the taxable year, 
(2) who was so employed by the taxpayer for a 
period of not less than 52 consecutive weeks, and 
(3) whose wages for such employment during the 
last 26 weeks of such period equaled at least 80 per-
cent of such wages for the first 26 weeks of such pe-
riod. 
(c) LIMITATION ON CARRYBACKS.—No portion of the 
unused business credit under section 38 of the Internal Rev-
enue Code of 1986 for any taxable year which is attrib-
utable to the increase in the current year business credit 
under this section may be carried to a taxable year begin-
ning before the date of the enactment of this section. 
TITLE II—EXPENSING 
SEC. 201. INCREASE IN EXPENSING OF CERTAIN DEPRE-
CIABLE BUSINESS ASSETS. 
(a) IN GENERAL.—Subsection (b) of section 179 is 
amended— 
(1) by striking ‘‘($125,000 in the case of taxable 
years beginning after 2006 and before 2011)’’ in 
paragraph (1) and inserting ‘‘($250,000 in the case 
of taxable years beginning after 2007 and before 
2011)’’,
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(2) by striking ‘‘($500,000 in the case of taxable 
years beginning after 2006 and before 2011)’’ in 
paragraph (2) and inserting ‘‘($800,000 in the case 
of taxable years beginning after 2007 and before 
2011)’’, 
(3) by striking paragraphs (5) and (7), and 
(4) by redesignating paragraph (6) as para-
graph (5). 
(b) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2009. 
TITLE III—QUALIFIED TAX 
CREDIT BONDS 
SEC. 301. ISSUER ALLOWED REFUNDABLE CREDIT FOR CER-
TAIN QUALIFIED TAX CREDIT BONDS. 
(a) CREDIT ALLOWED.—Section 6431 is amended by 
adding at the end the following new subsection: 
‘‘(f) APPLICATION OF SECTION TO CERTAIN QUALI-
FIED TAX CREDIT BONDS.— 
‘‘(1) IN GENERAL.—In the case of any specified 
tax credit bond— 
‘‘(A) such bond shall be treated as a quali-
fied bond for purposes of this section,
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‘‘(B) subsection (a) shall be applied without 
regard to the requirement that the qualified bond 
be issued before January 1, 2011, 
‘‘(C) the amount of the payment determined 
under subsection (b) with respect to any interest 
payment date under such bond shall be— 
‘‘(i) in the case of a bond issued by a 
qualified small issuer, 65 percent of the 
amount of interest payable on such bond by 
such issuer with respect to such date, and 
‘‘(ii) in the case of a bond issued by 
any other person, 45 percent of the amount 
of interest payable on such bond by such 
issuer with respect to such date, 
‘‘(D) interest on any such bond shall be in-
cludible in gross income for purposes of this title, 
‘‘(E) no credit shall be allowed under sec-
tion 54A with respect to such bond, 
‘‘(F) any payment made under subsection 
(b) shall not be includible as income for purposes 
of this title, and 
‘‘(G) the deduction otherwise allowed under 
this title to the issuer of such bond with respect 
to interest paid under such bond shall be reduced
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by the amount of the payment made under this 
section with respect to such interest. 
‘‘(2) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) SPECIFIED TAX CREDIT BOND.—The 
term ‘specified tax credit bond’ means any quali-
fied tax credit bond (as defined in section 
54A(d)) if— 
‘‘(i) such bond is— 
‘‘(I) a new clean renewable energy 
bond (as defined in section 54C), 
‘‘(II) a qualified energy conserva-
tion bond (as defined in section 54D), 
‘‘(III) a qualified zone academy 
bond (as defined in section 54E), or 
‘‘(IV) a qualified school construc-
tion bond (as defined in section 54F), 
and 
‘‘(ii) the issuer of such bond makes an 
irrevocable election to have this subsection 
apply, 
‘‘(B) QUALIFIED SMALL ISSUER.—The term 
‘qualified small issuer’ means, with respect to 
any calendar year, any issuer who is not reason-
ably expected to issue tax-exempt bonds (other
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than private activity bonds) and specified tax 
credit bonds (determined without regard to 
whether an election is made under this sub-
section) during such calendar year in an aggre-
gate face amount exceeding $30,000,000.’’. 
(b) TECHNICAL CORRECTIONS RELATING TO QUALI-
FIED SCHOOL CONSTRUCTION BONDS.— 
(1) The second sentence of section 54F(d)(1) is 
amended by striking ‘‘by the State’’ and inserting ‘‘by 
the State education agency (or such other agency as 
is authorized under State law to make such alloca-
tion)’’. 
(2) The second sentence of section 54F(e) is 
amended by striking ‘‘subsection (d)(4)’’ and insert-
ing ‘‘paragraphs (2) and (4) of subsection (d)’’. 
(c) EFFECTIVE DATES.— 
(1) IN GENERAL.—The amendment made by sub-
section (a) shall apply to bonds issued after the date 
of the enactment of this Act. 
(2) TECHNICAL
CORRECTIONS.—The amend-
ments made by subsection (b) shall take effect as if in-
cluded in section 1521 of the American Recovery and 
Reinvestment Tax Act of 2009.
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TITLE IV—EXTENSION OF CUR-
RENT 
SURFACE 
TRANSPOR-
TATION PROGRAMS 
SEC. 401. SHORT TITLE. 
This title may be cited as the ‘‘Surface Transportation 
Extension Act of 2010’’. 
Subtitle A—Federal-aid Highways 
SEC. 411. IN GENERAL. 
(a) IN GENERAL.—Except as provided in this Act, re-
quirements, authorities, conditions, eligibilities, limita-
tions, and other provisions authorized under titles I, V, and 
VI of the SAFETEA–LU (119 Stat. 1144), the SAFETEA– 
LU Technical Corrections Act of 2008 (122 Stat. 1572), ti-
tles I and VI of the Intermodal Surface Transportation Act 
of 1991 (105 Stat. 1914), titles I and V of the Transpor-
tation Equity Act for the 21st Century (112 Stat. 107), and 
title 23, United States Code (excluding chapter 4 of that 
title), which would otherwise expire on or cease to apply 
after September 30, 2009, or the date specified in section 
106(3) of the Continuing Appropriations Resolution, 2010 
(Public Law 111–68), are incorporated by reference and 
shall continue in effect until December 31, 2010. 
(b) AUTHORIZATION OF APPROPRIATIONS.—Except as 
provided in section 412, there are authorized to be appro-
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priated out of the Highway Trust Fund (other than the 
Mass Transit Account)— 
(1) for fiscal year 2010, a sum equal to the total 
amount authorized to be appropriated out of the 
Highway Trust Fund for programs, projects, and ac-
tivities for fiscal year 2009 under titles I, V, and VI 
of the SAFETEA–LU (119 Stat. 1144), and title 23, 
United States Code (excluding chapter 4 of that title); 
and 
(2) for the period beginning on October 1, 2010, 
and ending on December 31, 2010, a sum equal to 1⁄4 
of the total amount authorized to be appropriated out 
of the Highway Trust Fund for programs, projects, 
and activities for fiscal year 2009 under titles I, V, 
and VI of the SAFETEA–LU (119 Stat. 1144), and 
title 23, United States Code (excluding chapter 4 of 
that title). 
(c) USE OF FUNDS.— 
(1) FISCAL YEAR 2010.—Except as otherwise ex-
pressly provided in this Act, funds authorized to be 
appropriated under subsection (b)(1) for fiscal year 
2010 shall be distributed, administered, limited, and 
made available for obligation in the same manner 
and at the same level as funds authorized to be appro-
priated out of the Highway Trust Fund for fiscal
† HR 2847 EAS2 
year 2009 to carry out programs, projects, activities, 
eligibilities, and requirements under the SAFETEA– 
LU (119 Stat. 1144), the SAFETEA–LU Technical 
Corrections Act of 2008 (122 Stat. 1572), titles I and 
VI of the Intermodal Surface Transportation Act of 
1991 (105 Stat. 1914), titles I and V of the Transpor-
tation Equity Act for the 21st Century (112 Stat. 
107), and title 23, United States Code (excluding 
chapter 4 of that title). 
(2) FISCAL YEAR 2011.—Except as otherwise ex-
pressly provided in this Act, funds authorized to be 
appropriated under subsection (b)(2) for the period 
beginning on October 1, 2010, and ending on Decem-
ber 31, 2010, shall be distributed, administered, lim-
ited, and made available for obligation in the same 
manner and at the same level as 1⁄4 of the total 
amount of funds authorized to be appropriated out of 
the Highway Trust Fund for fiscal year 2009 to 
carry out programs, projects, activities, eligibilities, 
and requirements under the SAFETEA–LU (119 
Stat. 1144), the SAFETEA–LU Technical Corrections 
Act of 2008 (122 Stat. 1572), titles I and VI of the 
Intermodal Surface Transportation Act of 1991 (105 
Stat. 1914), titles I and V of the Transportation Eq-
uity Act for the 21st Century (112 Stat. 107), and
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title 23, United States Code (excluding chapter 4 of 
that title). 
(3) CALCULATION.—The amounts authorized to 
be appropriated under subsection (b) shall be cal-
culated without regard to any rescission or cancella-
tion of funds or contract authority for fiscal year 
2009 under the SAFETEA–LU (119 Stat. 1144) or 
any other law. 
(4) CONTRACT AUTHORITY.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), funds authorized to be appro-
priated under this section shall be available for 
obligation and shall be administered in the same 
manner as if such funds were apportioned under 
chapter 1 of title 23, United States Code, and— 
(i) for fiscal year 2010, shall be subject 
to a limitation on obligations for Federal- 
aid highways and highway safety construc-
tion programs included in an Act making 
appropriations for fiscal year 2010 or a 
portion of that fiscal year; and 
(ii) for the period beginning on Octo-
ber 1, 2010, and ending on December 31, 
2010, shall be subject to a limitation on ob-
ligations included in an Act making appro-
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project or activity described in subparagraph (A) 
shall be— 
(i) reserved by the Secretary of Trans-
portation; and 
(ii) distributed to each State in accord-
ance with paragraph (1) or (2) of sub-
section (c), or paragraph (1) or (2) of this 
subsection, as appropriate, for use in car-
rying out other highway projects and activi-
ties extended by subsection (c) or this sub-
section, in the proportion that— 
(I) the total amount of funds 
made available for fiscal year 2009 for 
projects and activities described in sub-
paragraph (A) in the State; bears to 
(II) the total amount of funds 
made available for fiscal year 2009 for 
those projects and activities in all 
States. 
(e) EXTENSION OF AUTHORIZATIONS UNDER TITLE V 
OF SAFETEA–LU.— 
(1) IN
GENERAL.—The programs authorized 
under paragraphs (1) through (5) of section 5101(a) 
of the SAFETEA–LU (119 Stat. 1779) shall be con-
tinued—
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ginning October 1, 2010, and ending December 
31, 2010,’’; 
(C) in subparagraph (C), by striking ‘‘and 
$51,500,000 for fiscal year 2009’’ and inserting 
‘‘$51,500,000 for each of fiscal years 2009 and 
2010, and $12,875,000 for the period beginning 
October 1, 2010, and ending December 31, 
2010,’’; 
(D) in subparagraph (D), by striking ‘‘and 
$1,666,500,000 for fiscal year 2009’’ and insert-
ing ‘‘$1,666,500,000 for each of fiscal years 2009 
and 2010, and $416,625,000 for the period be-
ginning October 1, 2010 and ending December 
31, 2010,’’; 
(E) in subparagraph (E), by striking ‘‘and 
$984,000,000 for fiscal year 2009’’ and inserting 
‘‘$984,000,000 for each of fiscal years 2009 and 
2010, and $246,000,000 for the period beginning 
October 1, 2010 and ending December 31, 
2010,’’; 
(F) in subparagraph (F), by striking ‘‘and 
$133,500,000 for fiscal year 2009’’ and inserting 
‘‘$133,500,000 for each of fiscal years 2009 and 
2010, and $33,375,000 for the period beginning