Tax Extenders Act of 2013

Bill: 113-s-1859
Sponsor: Sen. Reid, Harry [D-NV]
Introduced: 2013-12-19 in the Senate
Policy area: Taxation
Subjects: Agricultural conservation and pollution
Alcoholic beverages
Alternative and renewable resources
Business investment and capital
Capital gains tax
Charitable contributions
Coal
Commuting
Computers and information technology
Economic development
Educational facilities and institutions
Electric power generation and transmission
Elementary and secondary education
Employee benefits and pensions
Energy efficiency and conservation
Farmland
First responders and emergency personnel
Food assistance and relief
Food industry and services
Foreign and international corporations
Foreign property
Health care costs and insurance
Health care coverage and access
Housing finance and home ownership
Hybrid, electric, and advanced technology vehicles
Income tax credits
Income tax deductions
Income tax exclusion
Indian social and development programs
Low- and moderate-income housing
Mammals
Military personnel and dependents
Mining
Minority employment
Motor fuels
Public transit
Public utilities and utility rates
Puerto Rico
Railroads
Research and development
Retail and wholesale trades
Sales and excise taxes
Securities
Small business
Social work, volunteer service, charitable organizations
Sports and recreation facilities
State and local taxation
Student aid and college costs
Tax administration and collection, taxpayers
Teaching, teachers, curricula
Television and film
Trade adjustment assistance
Transportation costs
Virgin Islands
Wages and earnings
Worker safety and health

Summary:
action_date: 2013-12-19
text: 
Tax Extenders Act of 2013 - 
Title I: Individual Tax Extenders - 
Amends the Internal Revenue Code to extend through 2014: 
 
 
the tax credit for purchasing health care insurance; 
 
the tax deduction for expenses of elementary and secondary school teachers; 
 
the exclusion from gross income of imputed income from the discharge of indebtedness for a principal residence; 
 
the equalization of the exclusion from gross income for employer-provided commuter transit and parking benefits; 
 
the tax deduction for mortgage insurance premiums; 
 
the tax deduction for state and local general sales taxes in lieu of state and local income taxes; 
 
the tax deduction for contributions of capital gain real property made for conservation purposes; 
 
the deduction from gross income for qualified tuition and related expenses; and 
 
tax-free distributions from individual retirement accounts (IRAs) for charitable purposes. 

 
Extends through 2014 provisions allowing continuation of health care benefits for eligible trade adjustment assistance (TAA) and Pension Benefit Guaranty Corporation (PBGC) beneficiaries. 
 

Title II: Business Tax Extenders - 
Extends through 2014:
 
 
the tax credit for increasing research expenditures; 
 
the low-income housing tax credit rate for newly constructed non-federally subsidized buildings; 
 
the Indian employment tax credit; 
 
the new markets tax credit; 
 
the tax credit for qualified railroad track maintenance expenditures; 
 
the tax credit for mine rescue team training expenses; 
 
the tax credit for differential wage payments to employees who are active duty members of the Uniformed Services; 
 
the work opportunity tax credit; 
 
the authority for issuing qualified zone academy bonds; 
 
the classification of race horses as three-year property for depreciation purposes; 
 
accelerated depreciation of qualified leasehold, restaurant, and retail property, of motorsports entertainment complexes, and of business property on Indian reservations; 
 
additional (bonus) depreciation of business assets and the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation; 
 
the tax deduction for contributions of food inventory by taxpayers other than C corporations; 
 
increased expensing allowance for business property, including computer software, and depreciation of qualified real property; 
 
the election to expense advanced mine safety equipment expenditures; 
 
the enhanced expensing allowance for certain film and television production costs; 
 
the tax deduction for income attributable to domestic production activities in Puerto Rico; 
 
tax rules relating to payments between related foreign corporations and regulated investment companies; 
 
the subpart F income exemption for income derived in the active conduct of a banking, financing, or insurance business; 
 
the 100% exclusion from gross income of gain from the sale of small business stock; 
 
the basis adjustment rule for stock of an S corporation making charitable contributions of property; 
 
the reduction of the recognition period for the built-in gains of S corporations; 
 
tax incentives for investment in empowerment zones; 
 
the increased level of distilled spirit excise tax payments into the treasuries of Puerto Rico and the Virgin Islands; and 
 
the tax credit for American Samoa economic development expenditures. 

 
Amends the Housing Assistance Tax Act of 2008 to extend through 2014 the exemption of the basic military housing allowance from the income test for programs financed by tax-exempt housing bonds. 
 

Title III: Energy Tax Extenders - 
Extends through 2014: 
 
 
the tax credit for residential energy efficiency improvements; 
 
the tax credit for alternative fuel vehicle refueling property expenditures; 
 
the tax credit for two- or three-wheeled plug-in electric vehicles; 
 
the tax credit for second generation biofuel production; 
 
the income and excise tax credits for biodiesel and renewable diesel fuel mixtures; 
 
the tax credit for producing electricity using Indian coal facilities; 
 
the tax credit for producing electricity using wind, biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic renewable energy facilities; 
 
the tax credit for energy efficient new homes; 
 
the tax credit for energy efficient appliances; 
 
the special depreciation allowance for second generation biofuel plant property; 
 
the placed-in-service deadline for refinery property for which expensing of assets is allowed; 
 
the tax deduction for energy efficient commercial buildings; 
 
tax deferral rules for sales or dispositions of qualified electric utilities; and 
 
the excise tax credit for alternative fuels and fuels involving liquefied hydrogen.



Legislative actions:
action_date: 2013-12-20
text: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 287.
action_date: 2013-12-20
text: Read the first time. Placed on Senate Legislative Calendar under Read the First Time. (text of measure as introduced: CR S9054-9061)
action_date: 2013-12-19
text: Introduced in the Senate.
action_date: 2013-12-19
text: Introduced in Senate