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Subtitle F—National Defense Stockpile
SEC. 12601. DISPOSAL OF CERTAIN MATERIALS IN NA-
TIONAL DE-
FENSE STOCKPILE FOR DEFI-
CIT REDUCTION.
(a) DISPOSALS REQUIRED.—(1) During fiscal year
1996, the President shall dispose of all cobalt contained
in the National Defense Stockpile that, as of the date of
the enactment of this Act, is authorized for disposal under
any law (other than this Act).
(2) In addition to the disposal of cobalt under para-
graph (1), the President shall dispose of additional quan-
tities of cobalt and quantities of other materials contained
in the National Defense Stockpile and specified in the
table in subsection (b) so as to result in receipts to the
United States in amounts equal to—
(A) $21,000,000 during the fiscal year ending
September 30, 1996;
(B) $338,000,000 during the five-fiscal year pe-
riod ending on September 30, 2000; and
(C) $649,000,000 during the seven-fiscal year
period ending on September 30, 2002.
(b) LIMITATION ON DISPOSAL QUANTITY.—The total
quantities of materials authorized for disposal by the
President under subsection (a)(2) may not exceed the
amounts set forth in the following table:
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AUTHORIZED STOCKPILE DISPOSALS
Material for disposal
Quantity
Aluminum ....................................................
62,881 short tons.
Cobalt ..........................................................
30,000,000 pounds contained.
Columbium Ferro ........................................
930,911 pounds contained.
Germanium Metal .......................................
40,000 kilograms.
Indium .........................................................
35,000 troy ounces.
Palladium ....................................................
15,000 troy ounces.
Platinum .....................................................
10,000 troy ounces.
Rubber, Natural ..........................................
125,138 long tons.
Tantalum, Carbide Powder .........................
6,000 pounds contained.
Tantalum, Minerals ....................................
750,000 pounds contained.
Tantalum, Oxide .........................................
40,000 pounds contained.
(c) DEPOSIT OF RECEIPTS.—Notwithstanding sec-
tion 9 of the Strategic and Critical Materials Stock Piling
Act (50 U.S.C. 98h), funds received as a result of the dis-
posal of materials under subsection (a)(2) shall be depos-
ited into the general fund of the Treasury for the purpose
of deficit reduction.
(d) RELATIONSHIP TO OTHER DISPOSAL AUTHOR-
ITY.—The disposal authority provided in subsection (a)(2)
is new disposal authority and is in addition to, and shall
not affect, any other disposal authority provided by law
regarding the materials specified in such subsection.
(e) TERMINATION OF DISPOSAL AUTHORITY.—The
President may not use the disposal authority provided in
subsection (a)(2) after the date on which the total amount
of receipts specified in subparagraph (C) of such sub-
section is achieved.
(f) DEFINITION.—The term ‘‘National Defense
Stockpile’’ means the National Defense Stockpile provided
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for in section 4 of the Strategic and Critical Materials
Stock Piling Act (50 U.S.C. 98c).
SEC. 9002. EXTENSION OF HIGHER VESSEL TONNAGE DU-
TIES.
(a) EXTENSION OF DUTIES.—Section 36 of the Act
of August 5, 1909 (36 Stat. 111; 46 U.S.C. App. 121),
is amended by striking ‘‘for fiscal years 1991, 1992, 1993,
1994, 1995, 1996, 1997, 1998,’’ each place it appears and
inserting ‘‘for fiscal years through fiscal year 2002,’’.
(b) CONFORMING AMENDMENT.—The Act entitled
‘‘An Act concerning tonnage duties on vessels entering
otherwise than the sea’’, approved March 8, 1910 (36
Stat. 234; 46 U.S.C. App. 132), is amended by striking
‘‘for fiscal years 1991, 1992, 1993, 1994, 1995, 1996,
1997, and 1998,’’ and inserting ‘‘fiscal years through fis-
cal year 2002,’’.
SEC. 9003. FEMA RADIOLOGICAL EMERGENCY PREPARED-
NESS FEES.
(a) IN GENERAL.—The Director of the Federal
Emergency Management Agency may assess and collect
fees applicable to persons subject to radiological emer-
gency preparedness regulations issued by the Director.
(b) REQUIREMENTS.—The assessment and collection
of fees by the Director under subsection (a) shall be fair
and equitable and shall reflect the full amount of costs
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to the Agency of providing radiological emergency plan-
ning, preparedness, response, and associated services.
Such fees shall be assessed by the Director in a manner
that reflects the use of resources of the Agency for classes
of regulated persons and the and the administrative costs
of collecting such fees.
(c) AMOUNT OF FEES.—The aggregate amount of
fees assessed under subsection (a) in a fiscal year shall
approximate but not be less than, 100 percent of the
amounts anticipated by the Director to be obligated for
the radiological emergency preparedness program of the
Agency for such fiscal year.
(d) DEPOSIT OF FEES IN TREASURY.—Fees received
pursuant to subsection (a) shall be deposited in the gen-
eral fund of the Treasury as offsetting receipts.
(e) EXPIRATION OF AUTHORITY.—The authority of
the Director to assess and collect fees under subsection
(a) shall expire on September 30, 2002.
SEC. 6011. PATENT AND TRADEMARK FEES.
Section 10101 of the Omnibus Budget Reconciliation
Act of 1990 (35 U.S.C. 41 note) is amended—
(1) in subsection (a) by striking ‘‘1998’’ and in-
serting ‘‘2002’’;
(2) in subsection (b)(2) by striking ‘‘1998’’ and
inserting ‘‘2002’’; and
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(3) in subsection (c)—
(A) by striking ‘‘through 1998’’ and insert-
ing ‘‘through 2002’’; and
(B) by adding at the end the following:
‘‘(9) $119,000,000 in fiscal year 1999.
‘‘(10) $119,000,000 in fiscal year 2000.
‘‘(11) $119,000,000 in fiscal year 2001.
‘‘(12) $119,000,000 in fiscal year 2002.’’.
CHAPTER 6—DISCLOSURE OF RETURN IN-
FORMATION FOR ADMINISTRATION OF
CERTAIN VETERANS PROGRAMS
SEC. 11161. DISCLOSURE OF RETURN INFORMATION FOR
ADMINISTRATION OF CERTAIN VETERANS
PROGRAMS.
(a) GENERAL RULE.—Subparagraph (D) of section
6103(l)(7) (relating to disclosure of return information to
Federal, State, and local agencies administering certain
programs) is amended by striking ‘‘Clause (viii) shall not
apply after September 30, 1998.’’ and inserting ‘‘Clause
(viii) shall not apply after September 30, 2002.’’
(b) EFFECTIVE DATE.—The amendment made by
section (a) shall take effect on the date of the enactment
of this Act.
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Subtitle F—Taxpayer Bill of Rights 2 Provisions
SEC. 11201. EXPANSION OF AUTHORITY TO ABATE INTER-
EST.
(a) GENERAL RULE.—Paragraph (1) of section
6404(e) (relating to abatement of interest in certain cases)
is amended—
(1) by inserting ‘‘unreasonable’’ before ‘‘error’’
each place it appears in subparagraphs (A) and (B),
and
(2) by striking ‘‘in performing a ministerial
act’’ each place it appears and inserting ‘‘in per-
forming a ministerial or managerial act’’.
(b) CLERICAL AMENDMENT.—The subsection head-
ing for subsection (e) of section 6404 is amended—
(1) by striking ‘‘ASSESSMENT’’ and inserting
‘‘ABATEMENT’’, and
(2) by inserting ‘‘UNREASONABLE’’ before ‘‘ER-
RORS’’.
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply to interest accruing with respect
to deficiencies or payments for taxable years beginning
after the date of the enactment of this Act.
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SEC. 11202. EXTENSION OF INTEREST-FREE PERIOD FOR
PAYMENT OF
TAX AFTER NOTICE AND DE-
MAND.
(a) GENERAL RULE.—Paragraph (3) of section
6601(e) (relating to payments made within 10 days after
notice and demand) is amended to read as follows:
SEC 6105. DENIAL OF UNEMPLOYMENT INSURANCE TO IN-
DIVIDUALS WHO VOLUNTARILY LEAVE MILI-
TARY SERVICE.
(a) GENERAL RULE.—Paragraph (1) of section
8521(a) of title 5, United State Code, is amended to read
as follows:
‘‘(1) ‘Federal service’ means active service (not
including active duty in a reserve status unless for
a continuous period of 45 days or more) in the
armed forces or the commissioned corps of the Na-
tional Oceanic and Atmospheric Administration if
with respect to that service the individual—
‘‘(A) was discharged or released under
honorable conditions,
‘‘(B) did not resign or voluntarily leave the
service, and
‘‘(C) was not discharged or released for
cause as defined by the Secretary of Defense;’’.
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(b) EFFECTIVE DATE.—The amendment made by
subsection (a) shall apply in the case of a discharge or
release after the date of the enactment of this Act.
TITLE IX—LIMITATIONS ON COR-
PORATE 
WELFARE 
AND
OTHER 
REVENUE 
PROVI-
SIONS
SEC. ll001. AMENDMENT OF 1986 CODE.
Except as otherwise expressly provided, whenever in
this title an amendment or repeal is expressed in terms
of an amendment to, or repeal of, a section or other provi-
sion, the reference shall be considered to be made to such
section or other provision of the Internal Revenue Code
of 1986.
SEC. ll002. TABLE OF CONTENTS.
The table of contents for this title is as follows:
TITLE ll—LIMITATIONS ON CORPORATE WELFARE AND OTHER
REVENUE PROVISIONS
Sec. ll001. Amendment of 1986 Code.
Sec. ll002. Table of contents.
Subtitle A—Expatriation
Sec. ll101. Revision of tax rules on expatriation.
Sec. ll102. Information on individuals expatriating.
Subtitle B—Corporate Reforms
Sec. ll201. Tax treatment of certain extraordinary dividends.
Sec. ll202. Registration of confidential corporate tax shelters.
Sec. ll203. Denial of deduction for interest on loans with respect to com-
pany-owned insurance.
Sec. ll204. Termination of suspense accounts for family corporations re-
quired to use accrual method of accounting.
Sec. ll205. Modifications of Puerto Rico and possessions tax credit.
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Sec. ll206. Personal property used predominantly in the United States
treated as not property of a like kind with respect to property
used predominantly outside the United States.
Sec. ll207. Repeal of financial institution transition rule to interest alloca-
tion rules.
Sec. ll208. Conversion of large corporations into S corporations treated as
complete liquidation.
Sec. ll209. Modification of taxable years to which net operating losses may
be carried.
Sec. ll210. Constructive sales treatment for appreciated financial positions.
Sec. ll211. Modification of rules for allocating interest expense to tax-ex-
empt interest.
Sec. ll212. Reduction of 70 percent dividends received deduction to 50 per-
cent.
Sec. ll213. Modification of holding period applicable to dividends received
deduction.
Sec. ll214. Certain preferred stock treated as boot.
Sec. ll215. Denial of interest deductions on certain debt instruments.
Sec. ll216. Deferral of deduction for interest on convertible debt until pay-
ment.
Subtitle C—Foreign Provisions
PART I—FOREIGN TRUSTS
Sec. ll301. Improved information reporting on foreign trusts.
Sec. ll302. Modifications of rules relating to foreign trusts having one or
more United States beneficiaries.
Sec. ll303. Foreign persons not to be treated as owners under grantor trust
rules.
Sec. ll304. Information reporting regarding foreign gifts.
Sec. ll305. Modification of rules relating to foreign trusts which are not
grantor trusts.
Sec. ll306. Residence of estates and trusts, etc.
PART II—OTHER FOREIGN PROVISIONS
Sec. ll311. Definition of foreign personal holding company income.
Sec. ll312. Treatment of foreign oil and gas extraction income.
Sec. ll313. Limitation on exclusion of earned income of citizens or residents
of the United States living abroad.
Subtitle D—Accounting Provisions
Sec. ll401. Repeal of bad debt reserve method for thrift savings associa-
tions.
Sec. ll402. Depreciation under income forecast method.
Sec. ll403. Repeal of lower-of-cost-or-market method of accounting for in-
ventories.
Subtitle E—Administrative Provisions
Sec. ll501. Repeal of diesel fuel tax rebate to purchasers of diesel-powered
automobiles and light trucks.
Sec. ll502. Increased information reporting penalties.
Subtitle F—Casualty and Involuntary Conversion Provisions
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‘‘(A) a copy of any such statement, and
‘‘(B) the name (and any other identifying
information) of any individual refusing to com-
ply with the provisions of subsection (a),
‘‘(2) the Secretary of State shall provide to the
Secretary a copy of each certificate as to the loss of
American nationality under section 358 of the Immi-
gration and Nationality Act which is approved by
the Secretary of State, and
‘‘(3) the Federal agency primarily responsible
for administering the immigration laws shall provide
to the Secretary the name of each lawful permanent
resident of the United States (within the meaning of
section 7701(b)(6)) whose status as such has been
revoked or has been administratively or judicially de-
termined to have been abandoned.
Notwithstanding any other provision of law, not later than
30 days after the close of each calendar quarter, the Sec-
retary shall publish in the Federal Register the name of
each individual relinquishing United States citizenship
(within the meaning of section 877A(e)(3)) with respect
to whom the Secretary receives information under the pre-
ceding sentence during such quarter.
‘‘(e) EXEMPTION.—The Secretary may by regulations
exempt any class of individuals from the requirements of
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‘‘(B) TIME FOR INCLUSION.—In the case
of any qualified transfer which occurs before
January 1, 1997, any amount includible in
gross income under subparagraph (A) with re-
spect to such contribution shall be includible
ratably over the 4-taxable year period beginning
in the taxable year in which the amount was
paid or distributed out of the individual retire-
ment plan.
‘‘(e) QUALIFIED TRANSFER.—For purposes of this
section—
‘‘(1) IN GENERAL.—The term ‘qualified trans-
fer’ means a transfer to a special individual retire-
ment account from another such account or from an
individual retirement plan but only if such transfer
meets the requirements of section 408(d)(3).
‘‘(2) LIMITATION.—A transfer otherwise de-
scribed in paragraph (1) shall not be treated as a
qualified transfer if the taxpayer’s adjusted gross in-
come for the taxable year of the transfer exceeds the
sum of—
‘‘(A) the applicable dollar amount, plus
‘‘(B) the dollar amount applicable for the
taxable year under section 219(g)(2)(A)(ii).