H. R. 8—18 
SEC. 310. EXTENSION OF QUALIFIED ZONE ACADEMY BONDS. 
(a) IN GENERAL.—Paragraph (1) of section 54E(c) is amended 
by inserting ‘‘, 2012, and 2013’’ after ‘‘for 2011’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to obligations issued after December 31, 2011. 
SEC. 311. EXTENSION OF 15-YEAR STRAIGHT-LINE COST RECOVERY 
FOR QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED 
RESTAURANT 
BUILDINGS 
AND 
IMPROVEMENTS, 
AND 
QUALIFIED RETAIL IMPROVEMENTS. 
(a) IN
GENERAL.—Clauses (iv), (v), and (ix) of section 
168(e)(3)(E) are each amended by striking ‘‘January 1, 2012’’ and 
inserting ‘‘January 1, 2014’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to property placed in service after December 31, 2011. 
SEC. 312. EXTENSION OF 7-YEAR RECOVERY PERIOD FOR MOTOR-
SPORTS ENTERTAINMENT COMPLEXES. 
(a) IN GENERAL.—Subparagraph (D) of section 168(i)(15) is 
amended by striking ‘‘December 31, 2011’’ and inserting ‘‘December 
31, 2013’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to property placed in service after December 31, 2011. 
SEC. 313. 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, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to property placed in service after December 31, 2011. 
SEC. 314. EXTENSION OF ENHANCED CHARITABLE DEDUCTION FOR 
CONTRIBUTIONS OF FOOD INVENTORY. 
(a) IN GENERAL.—Clause (iv) of section 170(e)(3)(C) is amended 
by striking ‘‘December 31, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to contributions made after December 31, 2011. 
SEC. 315. EXTENSION OF INCREASED EXPENSING LIMITATIONS 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 ‘‘2010 or 2011,’’ in subparagraph (B) 
and inserting ‘‘2010, 2011, 2012, or 2013, and’’, 
(B) by striking subparagraph (C), 
(C) by redesignating subparagraph (D) as subpara-
graph (C), and 
(D) in subparagraph (C), as so redesignated, by striking 
‘‘2012’’ and inserting ‘‘2013’’. 
(2) 
REDUCTION
IN
LIMITATION.—Section 
179(b)(2) 
is 
amended— 
(A) by striking ‘‘2010 or 2011,’’ in subparagraph (B) 
and inserting ‘‘2010, 2011, 2012, or 2013, and’’, 
(B) by striking subparagraph (C), 
(C) by redesignating subparagraph (D) as subpara-
graph (C), and
H. R. 8—19 
(D) in subparagraph (C), as so redesignated, by striking 
‘‘2012’’ and inserting ‘‘2013’’. 
(3) CONFORMING
AMENDMENT.—Subsection (b) of section 
179 is amended by striking paragraph (6). 
(b) COMPUTER SOFTWARE.—Section 179(d)(1)(A)(ii) is amended 
by striking ‘‘2013’’ and inserting ‘‘2014’’. 
(c) ELECTION.—Section 179(c)(2) is amended by striking ‘‘2013’’ 
and inserting ‘‘2014’’. 
(d) SPECIAL RULES FOR TREATMENT OF QUALIFIED REAL PROP-
ERTY.— 
(1) IN GENERAL.—Section 179(f)(1) is amended by striking 
‘‘2010 or 2011’’ and inserting ‘‘2010, 2011, 2012, or 2013’’. 
(2) CARRYOVER LIMITATION.— 
(A) IN
GENERAL.—Section 179(f)(4) is amended by 
striking ‘‘2011’’ each place it appears and inserting ‘‘2013’’. 
(B) CONFORMING AMENDMENT.—Subparagraph (C) of 
section 179(f)(4) is amended— 
(i) in the heading, by striking ‘‘2010’’ and inserting 
‘‘2010, 2011 AND 2012’’, and 
(ii) by adding at the end the following: ‘‘For the 
last taxable year beginning in 2013, the amount deter-
mined under subsection (b)(3)(A) for such taxable year 
shall be determined without regard to this paragraph.’’. 
(e) EFFECTIVE DATE.—The amendments made by this section 
shall apply to taxable years beginning after December 31, 2011. 
SEC. 316. EXTENSION OF ELECTION TO EXPENSE MINE SAFETY EQUIP-
MENT. 
(a) IN GENERAL.—Subsection (g) of section 179E is amended 
by striking ‘‘December 31, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to property placed in service after December 31, 2011. 
SEC. 317. EXTENSION OF SPECIAL EXPENSING RULES FOR CERTAIN 
FILM AND TELEVISION PRODUCTIONS. 
(a) IN GENERAL.—Subsection (f) of section 181 is amended 
by striking ‘‘December 31, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to productions commencing after December 31, 2011. 
SEC. 318. EXTENSION OF DEDUCTION ALLOWABLE WITH RESPECT TO 
INCOME 
ATTRIBUTABLE 
TO 
DOMESTIC 
PRODUCTION 
ACTIVITIES IN PUERTO RICO. 
(a) IN GENERAL.—Subparagraph (C) of section 199(d)(8) is 
amended— 
(1) by striking ‘‘first 6 taxable years’’ and inserting ‘‘first 
8 taxable years’’, and 
(2) by striking ‘‘January 1, 2012’’ and inserting ‘‘January 
1, 2014’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to taxable years beginning after December 31, 2011. 
SEC. 319. EXTENSION OF MODIFICATION OF TAX TREATMENT OF CER-
TAIN PAYMENTS TO CONTROLLING EXEMPT ORGANIZA-
TIONS. 
(a) IN
GENERAL.—Clause (iv) of section 512(b)(13)(E) is 
amended by striking ‘‘December 31, 2011’’ and inserting ‘‘December 
31, 2013’’.
H. R. 8—20 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to payments received or accrued after December 31, 
2011. 
SEC. 320. EXTENSION OF TREATMENT OF CERTAIN DIVIDENDS OF 
REGULATED INVESTMENT COMPANIES. 
(a) IN GENERAL.—Paragraphs (1)(C)(v) and (2)(C)(v) of section 
871(k) are each amended by striking ‘‘December 31, 2011’’ and 
inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.—The amendments made by this section 
shall apply to taxable years beginning after December 31, 2011. 
SEC. 321. EXTENSION OF RIC QUALIFIED INVESTMENT ENTITY TREAT-
MENT UNDER FIRPTA. 
(a) IN GENERAL.—Clause (ii) of section 897(h)(4)(A) is amended 
by striking ‘‘December 31, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.— 
(1) IN GENERAL.—The amendment made by subsection (a) 
shall take effect on January 1, 2012. Notwithstanding the pre-
ceding sentence, such amendment shall not apply with respect 
to the withholding requirement under section 1445 of the 
Internal 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 ENACT-
MENT.—In the case of a regulated investment company— 
(A) which makes a distribution after December 31, 
2011, and before the date of the enactment of this Act; 
and 
(B) which would (but for the second sentence of para-
graph (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 with-
held and paid over to the Secretary of the Treasury. 
SEC. 322. EXTENSION OF SUBPART F EXCEPTION FOR ACTIVE 
FINANCING INCOME. 
(a) EXEMPT INSURANCE INCOME.—Paragraph (10) of section 
953(e) is amended— 
(1) by striking ‘‘January 1, 2012’’ and inserting ‘‘January 
1, 2014’’, and 
(2) by striking ‘‘December 31, 2011’’ and inserting 
‘‘December 31, 2013’’. 
(b) SPECIAL RULE FOR INCOME DERIVED IN THE ACTIVE CONDUCT 
OF BANKING, FINANCING, OR SIMILAR BUSINESSES.—Paragraph (9) 
of section 954(h) is amended by striking ‘‘January 1, 2012’’ and 
inserting ‘‘January 1, 2014’’. 
(c) EFFECTIVE DATE.—The amendments made by this section 
shall apply to taxable years of foreign corporations beginning after 
December 31, 2011, and to taxable years of United States share-
holders with or within which any such taxable year of such foreign 
corporation ends.
H. R. 8—21 
SEC. 323. EXTENSION OF LOOK-THRU TREATMENT OF PAYMENTS 
BETWEEN RELATED CONTROLLED FOREIGN CORPORA-
TIONS UNDER FOREIGN PERSONAL HOLDING COMPANY 
RULES. 
(a) IN GENERAL.—Subparagraph (C) of section 954(c)(6) is 
amended by striking ‘‘January 1, 2012’’ and inserting ‘‘January 
1, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to taxable years of foreign corporations beginning after 
December 31, 2011, and to taxable years of United States share-
holders with or within which such taxable years of foreign corpora-
tions end. 
SEC. 324. EXTENSION OF TEMPORARY EXCLUSION OF 100 PERCENT 
OF GAIN ON CERTAIN SMALL BUSINESS STOCK. 
(a) IN GENERAL.—Paragraph (4) of section 1202(a) is amended— 
(1) by striking ‘‘January 1, 2012’’ and inserting ‘‘January 
1, 2014’’, and 
(2) by striking ‘‘AND 2011’’ and inserting ‘‘, 2011, 2012, 
AND 2013’’ in the heading thereof. 
(b) TECHNICAL AMENDMENTS.— 
(1) SPECIAL RULE FOR 2009 AND CERTAIN PERIOD IN 2010.— 
Paragraph (3) of section 1202(a) is amended by adding at the 
end the following new flush sentence: 
‘‘In the case of any stock which would be described in the 
preceding sentence (but for this sentence), the acquisition date 
for purposes of this subsection shall be the first day on which 
such stock was held by the taxpayer determined after the 
application of section 1223.’’. 
(2) 100 PERCENT
EXCLUSION.—Paragraph (4) of section 
1202(a) is amended by adding at the end the following new 
flush sentence: 
‘‘In the case of any stock which would be described in the 
preceding sentence (but for this sentence), the acquisition date 
for purposes of this subsection shall be the first day on which 
such stock was held by the taxpayer determined after the 
application of section 1223.’’. 
(c) EFFECTIVE DATES.— 
(1) IN
GENERAL.—The amendments made by subsection 
(a) shall apply to stock acquired after December 31, 2011. 
(2) SUBSECTION (b)(1).—The amendment made by sub-
section (b)(1) shall take effect as if included in section 1241(a) 
of division B of the American Recovery and Reinvestment Act 
of 2009. 
(3) SUBSECTION (b)(2).—The amendment made by sub-
section (b)(2) shall take effect as if included in section 2011(a) 
of the Creating Small Business Jobs Act of 2010. 
SEC. 325. EXTENSION OF BASIS ADJUSTMENT TO STOCK OF S COR-
PORATIONS MAKING CHARITABLE CONTRIBUTIONS OF 
PROPERTY. 
(a) IN GENERAL.—Paragraph (2) of section 1367(a) is amended 
by striking ‘‘December 31, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to contributions made in taxable years beginning after 
December 31, 2011.
H. R. 8—22 
SEC. 326. EXTENSION OF REDUCTION IN S-CORPORATION RECOGNI-
TION PERIOD FOR BUILT-IN GAINS TAX. 
(a) IN GENERAL.—Paragraph (7) of section 1374(d) is amended— 
(1) by redesignating subparagraph (C) as subparagraph 
(D), and 
(2) by inserting after subparagraph (B) the following new 
subparagraph: 
‘‘(C) SPECIAL RULE FOR 2012 AND 2013.—For purposes 
of determining the net recognized built-in gain for taxable 
years beginning in 2012 or 2013, subparagraphs (A) and 
(D) shall be applied by substituting ‘5-year’ for ‘10-year’.’’, 
and 
(3) by adding at the end the following new subparagraph: 
‘‘(E) INSTALLMENT
SALES.—If an S corporation sells 
an asset and reports the income from the sale using the 
installment method under section 453, the treatment of 
all payments received shall be governed by the provisions 
of this paragraph applicable to the taxable year in which 
such sale was made.’’. 
(b) TECHNICAL
AMENDMENT.—Subparagraph (B) of section 
1374(d)(2) is amended by inserting ‘‘described in subparagraph (A)’’ 
after ‘‘, for any taxable year’’. 
(c) EFFECTIVE DATE.—The amendments made by this section 
shall apply to taxable years beginning after December 31, 2011. 
SEC. 327. EXTENSION OF EMPOWERMENT ZONE TAX INCENTIVES. 
(a) IN GENERAL.—Clause (i) of section 1391(d)(1)(A) is amended 
by striking ‘‘December 31, 2011’’ and inserting ‘‘December 31, 2013’’. 
(b) INCREASED EXCLUSION OF GAIN ON STOCK OF EMPOWERMENT 
ZONE
BUSINESSES.—Subparagraph (C) of section 1202(a)(2) is 
amended— 
(1) by striking ‘‘December 31, 2016’’ and inserting 
‘‘December 31, 2018’’; and 
(2) by striking ‘‘2016’’ in the heading and inserting ‘‘2018’’. 
(c) TREATMENT OF CERTAIN TERMINATION DATES SPECIFIED IN 
NOMINATIONS.—In the case of a designation of an empowerment 
zone the nomination for which included a termination date which 
is contemporaneous with the date specified in subparagraph (A)(i) 
of section 1391(d)(1) of the Internal Revenue Code of 1986 (as 
in effect before the enactment of this Act), subparagraph (B) of 
such section shall not apply with respect to such designation if, 
after the date of the enactment of this section, the entity which 
made such nomination amends the nomination to provide for a 
new termination date in such manner as the Secretary of the 
Treasury (or the Secretary’s designee) may provide. 
(d) EFFECTIVE DATE.—The amendments made by this section 
shall apply to periods after December 31, 2011. 
SEC. 328. EXTENSION OF TAX-EXEMPT FINANCING FOR NEW YORK LIB-
ERTY ZONE. 
(a) IN GENERAL.—Subparagraph (D) of section 1400L(d)(2) is 
amended by striking ‘‘January 1, 2012’’ and inserting ‘‘January 
1, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to bonds issued after December 31, 2011.