In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Relief Certainty Act of 2011''.

                     TITLE I--PERMANENT TAX RELIEF

SEC. 101. REPEAL OF EGTRRA SUNSET.

    Section 901 of the Economic Growth and Tax Relief Reconciliation 
Act of 2001 is repealed.

SEC. 102. REPEAL OF JGTRRA SUNSET.

    Section 303 of the Jobs and Growth Tax Relief Reconciliation Act of 
2003 is repealed.

SEC. 103. TECHNICAL AND CONFORMING AMENDMENTS.

    The Secretary of the Treasury or the Secretary's delegate shall, 
not later than 90 days after the date of the enactment of this Act, 
submit to the Committee on Ways and Means of the House of 
Representatives and the Committee on Finance of the Senate a draft of 
any technical and conforming changes in the Internal Revenue Code of 
1986 which are necessary to reflect throughout such Code the purposes 
of the provisions of, and amendments made by, this Act.

               TITLE II--PERMANENT INDIVIDUAL AMT RELIEF

SEC. 201. PERMANENT INDIVIDUAL AMT RELIEF.

    (a) Modification of Alternative Minimum Tax Exemption Amount.--
            (1) In general.--Paragraph (1) of section 55(d) of the 
        Internal Revenue Code of 1986 (relating to exemption amount) is 
        amended to read as follows:
            ``(1) Exemption amount for taxpayers other than 
        corporations.--In the case of a taxpayer other than a 
        corporation, the term `exemption amount' means--
                    ``(A) the dollar amount for taxable years beginning 
                in the calendar year as specified in the table 
                contained in paragraph (4)(A) in the case of--
                            ``(i) a joint return, or
                            ``(ii) a surviving spouse,
                    ``(B) the dollar amount for taxable years beginning 
                in the calendar year as specified in the table 
                contained in paragraph (4)(B) in the case of an 
                individual who--
                            ``(i) is not a married individual, and
                            ``(ii) is not a surviving spouse,
                    ``(C) 50 percent of the dollar amount applicable 
                under paragraph (1)(A) in the case of a married 
                individual who files a separate return, and
                    ``(D) $22,500 in the case of an estate or trust.
        For purposes of this paragraph, the term `surviving spouse' has 
        the meaning given to such term by section 2(a), and marital 
        status shall be determined under section 7703.''.
            (2) Specified exemption amounts.--Section 55(d) of such 
        Code is amended by adding at the end the following new 
        paragraph:
            ``(4) Specified exemption amounts.--
                    ``(A) Taxpayers described in paragraph (1)(A).--For 
                purposes of paragraph (1))(A)--


------------------------------------------------------------------------
                                                                 The
             ``For taxable years beginning in--               exemption
                                                              amount is:
------------------------------------------------------------------------
2011.......................................................      $74,450
2012.......................................................      $78,250
2013.......................................................      $81,450
2014.......................................................      $85,050
2015.......................................................      $88,650
2016.......................................................      $92,650
2017.......................................................      $96,550
2018.......................................................     $100,950
2019.......................................................     $105,150
2020.......................................................     $109,950
2021.......................................................    $112,250.
------------------------------------------------------------------------

                    ``(B) Taxpayers described in paragraph (1)(B).--For 
                purposes of paragraph (1))(B)--


------------------------------------------------------------------------
                                                                 The
             ``For taxable years beginning in--               exemption
                                                              amount is:
------------------------------------------------------------------------
2011.......................................................      $48,450
2012.......................................................      $50,350
2013.......................................................      $51,950
2014.......................................................      $53,750
2015.......................................................      $55,550
2016.......................................................      $57,550
2017.......................................................      $59,500
2018.......................................................      $61,700
2019.......................................................      $63,800
2020.......................................................      $66,200
2021.......................................................  $68,200.''.
------------------------------------------------------------------------

    (b) Alternative Minimum Tax Relief for Nonrefundable Credits.--
            (1) In general.--Subsection (a) of section 26 of the 
        Internal Revenue Code of 1986 is amended to read as follows:
    ``(a) Limitation Based on Amount of Tax.--The aggregate amount of 
credits allowed by this subpart for the taxable year shall not exceed 
the sum of--
            ``(1) the taxpayer's regular tax liability for the taxable 
        year reduced by the foreign tax credit allowable under section 
        27(a), and
            ``(2) the tax imposed by section 55(a) for the taxable 
        year.''.
            (2) Conforming amendments.--
                    (A) Child tax credit.--
                            (i) Section 24(b) of such Code is amended 
                        by striking paragraph (3).
                            (ii) Section 24(d)(1) of such Code is 
                        amended--
                                    (I) by striking ``section 26(a)(2) 
                                or subsection (b)(3), as the case may 
                                be,'' each place it appears in 
                                subparagraphs (A) and (B) and inserting 
                                ``section 26(a)'', and
                                    (II) by striking ``section 26(a)(2) 
                                or subsection (b)(3), as the case may 
                                be'' in the second last sentence and 
                                inserting ``section 26(a)''.
                    (B) Credit for interest on certain home 
                mortgages.--Section 25(e)(1)(C) of such Code is amended 
                to read as follows:
                    ``(C) Applicable tax limit.--For purposes of this 
                paragraph, the term `applicable tax limit' means the 
                limitation imposed by section 26(a) for the taxable 
                year reduced by the sum of the credits allowable under 
                this subpart (other than this section and sections 23, 
                25D, and 1400C).''.
                    (C) Savers' credit.--Section 25B of such Code is 
                amended by striking subsection (g).
                    (D) Residential energy efficient property.--Section 
                25D(c) of such Code is amended to read as follows:
    ``(c) Carryforward of Unused Credit.--If the credit allowable under 
subsection (a) exceeds the limitation imposed by section 26(a) for such 
taxable year reduced by the sum of the credits allowable under this 
subpart (other than this section), such excess shall be carried to the 
succeeding taxable year and added to the credit allowable under 
subsection (a) for such succeeding taxable year.''.
                    (E) Certain plug-in electric vehicles.--Section 
                30(c)(2) of such Code is amended to read as follows:
            ``(2) Personal credit.--For purposes of this title, the 
        credit allowed under subsection (a) for any taxable year 
        (determined after application of paragraph (1)) shall be 
        treated as a credit allowable under subpart A for such taxable 
        year.''.
                    (F) Alternative motor vehicle credit.--Section 
                30B(g)(2) of such Code is amended to read as follows:
            ``(2) Personal credit.--For purposes of this title, the 
        credit allowed under subsection (a) for any taxable year 
        (determined after application of paragraph (1)) shall be 
        treated as a credit allowable under subpart A for such taxable 
        year.''.
                    (G) New qualified plug-in electric vehicle 
                credit.--Section 30D(c)(2) of such Code is amended to 
                read as follows:
            ``(2) Personal credit.--For purposes of this title, the 
        credit allowed under subsection (a) for any taxable year 
        (determined after application of paragraph (1)) shall be 
        treated as a credit allowable under subpart A for such taxable 
        year.''.
                    (H) Cross references.--Section 55(c)(3) of such 
                Code is amended by striking ``26(a), 30C(d)(2),'' and 
                inserting ``30C(d)(2)''.
                    (I) Foreign tax credit.--Section 904 of such Code 
                is amended by striking subsection (i) and by 
                redesignating subsections (j), (k), and (l) as 
                subsections (i), (j), and (k), respectively.
                    (J) First-time home buyer credit for the district 
                of columbia.--Section 1400C(d) of such Code is amended 
                to read as follows:
    ``(d) Carryforward of Unused Credit.--If the credit allowable under 
subsection (a) exceeds the limitation imposed by section 26(a) for such 
taxable year reduced by the sum of the credits allowable under subpart 
A of part IV of subchapter A (other than this section and section 25D), 
such excess shall be carried to the succeeding taxable year and added 
to the credit allowable under subsection (a) for such taxable year.''.
            (3) Adoption credit.--
                    (A) In general.--Section 10909 of the Patient 
                Protection and Affordable Care Act, and the amendments 
                made thereby, are repealed; and the Internal Revenue 
                Code of 1986 shall be applied as if such section, and 
                amendments, had never been enacted.
                    (B) Conforming amendments.--
                            (i) Section 23(b) of the Internal Revenue 
                        Code of 1986, as in effect on December 31, 
                        2009, is amended by striking paragraph (4).
                            (ii) Section 23(c) of such Code, as in 
                        effect on December 31, 2009, is amended by 
                        striking paragraphs (1) and (2) and inserting 
                        before paragraph (3) the following:
            ``(1) In general.--If the credit allowable under subsection 
        (a) for any taxable year exceeds the limitation imposed by 
        section 26(a) for such taxable year, reduced by the sum of the 
        credits allowable under this subpart (other than this section 
        and sections 25D and 1400C), such excess shall be carried to 
        the succeeding taxable year and added to the credit allowable 
        under subsection (a) for such taxable year.''.
                            (iii) Section 23(c) of such Code, as in 
                        effect on December 31, 2009, is amended by 
                        redesignating paragraph (3) as paragraph (2).
    (c) Effective Date.--The amendments and the repeal made by this 
section shall apply to taxable years beginning after December 31, 2010.

                 TITLE III--PERMANENT ESTATE TAX RELIEF

SEC. 301. PERMANENT ESTATE TAX RELIEF.

    (a) In General.--Title III of the Tax Relief, Unemployment 
Insurance Reauthorization, and Job Creation Act of 2010, and the 
amendments made thereby, are repealed; and the Internal Revenue Code of 
1986 shall be applied as if such title, and amendments, had never been 
enacted.
    (b) Effective Date.--The repeal made by this section shall apply to 
estates of decedents dying, gifts made, and generation skipping 
transfers after December 31, 2009.
Tax Relief Certainty Act of 2011 - Eliminates: (1) the terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001, thus making the tax relief provisions of such Act permanent; and (2) the terminating date of the Jobs and Growth Tax Relief Reconciliation Act of 2003 applicable to reductions in the tax rate for dividend and capital gain income.

Amends the Internal Revenue Code to: (1) phase-in between 2011 through 2021increases in the exemption amount for the alternative minimum tax (AMT); and (2) make permanent offsets against the AMT for certain nonrefundable tax credits.

Makes permanent the repeal of the estate, gift, and generation-skipping transfer taxes for decedents dying, gifts made, and generation skipping transfers after December 31, 2009.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Transportation Finance Innovation 
Demonstration Act of 2010''.

SEC. 2. VEHICLE MILEAGE TAX FOR MOBILE MOUNTED CONCRETE BOOM PUMPS.

    (a) In General.--Chapter 36 of the Internal Revenue Code of 1986 
(relating to certain other excise taxes) is amended by inserting after 
subchapter D the following new subchapter:

                  ``Subchapter E--Vehicle Mileage Tax

``Sec. 4491. Imposition of tax.
``Sec. 4492. Mobile mounted concrete boom pump vehicle defined.
``Sec. 4493. Method of collecting tax.

``SEC. 4491. IMPOSITION OF TAX.

    ``(a) Imposition of Tax.--There is hereby imposed on each mobile 
mounted concrete boom pump vehicle a tax determined at the applicable 
rate per mile for each mile traveled in the United States.
    ``(b) Applicable Rate.--For purposes of subsection (a), the 
applicable rate shall be--
            ``(1) $0.05 per mile for a mobile mounted concrete boom 
        pump vehicle with a gross vehicle weight which does not exceed 
        60,000 pounds, and
            ``(2) $0.07 per mile for a mobile mounted concrete boom 
        pump vehicle with a gross vehicle weight which exceeds 60,000 
        pounds.
    ``(c) By Whom Paid.--The tax imposed by subsection (a) shall be 
paid by the owner of the mobile mounted concrete boom pump vehicle.
    ``(d) Credit Against Tax.--At the election of the taxpayer, there 
shall be allowed as a credit against the tax imposed by subsection (a) 
for any taxable period the amount of tax imposed with respect to such 
vehicle under sections 4053, 4081, and 4481 for such period. The credit 
allowed under the preceding sentence with respect to a quantity of 
liquid shall be in lieu of a payment under section 6427 with respect to 
such quantity.
    ``(e) Special Rules for Determining Mileage.--In determining 
mileage for purposes of this section, the Secretary shall work in close 
coordination with the Secretary of Transportation to develop a system 
for administration and compliance with this section. Such system 
shall--
            ``(1) work in tandem with the engine control modules of the 
        affected vehicles,
            ``(2) minimize the administrative burdens on pump owners 
        and operators,
            ``(3) minimize the administrative burden on the Department 
        of Transportation,
            ``(4) integrate with State and local transportation revenue 
        mechanisms (including demand management systems),
            ``(5) protect the privacy of participating companies and 
        employees, and
            ``(6) allow third party administrators to manage data 
        collection and refund payments to operators.
There is authorized to be appropriated not more than $5,000,000 for 
costs associated with developing and implementing such system, 
including for making grants to private companies where appropriate to 
develop and deploy on-board technologies to track and report road miles 
traveled.

``SEC. 4492. MOBILE MOUNTED CONCRETE BOOM PUMP VEHICLE DEFINED.

    ``For purposes of this subchapter, the term `mobile mounted 
concrete boom pump vehicle' means a vehicle--
            ``(1) which is mobile machinery (as defined in section 
        4053(8)), and
            ``(2) on which the mounted machinery consists of a concrete 
        boom pump and related subordinate parts.

``SEC. 4493. METHOD OF COLLECTING TAX.

    ``(a) Collection by Return.--The taxes imposed by section 4491 
shall be collected on the basis of a return for a calendar quarter. The 
Secretary shall, by regulation, prescribe the time for filing such 
return, the information to be shown in such return, and the time for 
payment of such tax.
    ``(b) Payment Due Date.--Except as otherwise provided in this 
subsection, the last day for payment of such tax shall be the 14th day 
after the last day of the calendar quarter for which the return is 
filed under subsection (a).
    ``(c) Calendar Quarter.--For purposes of this section, the term 
`calendar quarter' means the three-month period ending on March 31, 
June 30, September 30, or December 31.''.
    (b) Highway Mileage Limitation Not Applicable.--Subparagraph (C) of 
section 6421(e)(2) of such Code is amended by adding at the end the 
following new clause:
                            ``(v) Exception to use requirement for 
                        mobile mounted concrete boom pump vehicle.--In 
                        the case of a mobile mounted concrete boom pump 
                        vehicle (as defined in section 4492), clause 
                        (ii) shall be applied without regard to 
                        subclause (II) (relating to the use-based 
                        test).''.
    (c) Nontaxable Use.--Subsection (b) of section 4082 of such Code 
(defining nontaxable use) is amended by inserting ``(other than a use 
by a vehicle described in clause (v) thereof'' after ``section 
6421(e)(2)(C)''.
    (d) Deposit Into Highway Trust Fund.--Paragraph (1) of section 
9503(b) of such Code (relating to transfer to Highway Trust Fund of 
amounts equivalent to certain taxes and penalties) is amended by 
striking ``and'' at the end of subparagraph (D), by striking the period 
at the end of subparagraph (E) and inserting ``, and'', and by 
inserting after paragraph (E) the following new subparagraph:
                    ``(F) section 4491 (relating to vehicle mileage 
                tax).''.
    (e) Clerical Amendment.--The table of subchapters for chapter 36 of 
such Code is amended by inserting after the item relating to subchapter 
D the following new item:

                 ``subchapter e. vehicle mileage tax''.

    (f) Effective Date.--The amendments made by this section shall take 
effect on January 1, 2011.
Transportation Finance Innovation Demonstration Act of 2010 - Amends the Internal Revenue Code to impose a vehicle mileage tax on mobile mounted concrete boom pump vehicles. Defines "mobile mounted concrete boom pump vehicle" as a vehicle which is mobile machinery and on which the mounted machinery consists of a concrete boom pump and related subordinate parts.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``First-time Homebuyer Affordability 
Act of 1993''.

SEC. 2. FINDINGS AND POLICY.

    (a) Findings.--The Congress finds that--
            (1) it is desirable to make funds available from individual 
        retirement plans to encourage first time home ownership, and
            (2) the tax and penalty on the premature withdrawal of 
        funds from individual retirement plans are substantial 
        impediments to making such funds available for that purpose.
    (b) Policy.--It is the policy of the Congress to remove impediments 
to home investment by first-time homebuyers by permitting owners of 
individual retirement plans to direct the trustees of such plans to 
invest plan funds as home equity or debt in the homes of family members 
who are first-time homebuyers.

SEC. 3. CERTAIN RETIREMENT PLANS AUTHORIZED TO MAKE EQUITY INVESTMENTS 
              IN PRINCIPAL RESIDENCES FOR FIRST-TIME HOMEBUYERS.

    (a) Exemption From Prohibited Transaction Rules.--Section 4975 of 
the Internal Revenue Code of 1986 (relating to tax on prohibited 
transactions) is amended by redesignating subsections (h) and (i) as 
subsections (i) and (j), respectively, and by inserting after 
subsection (g) the following new subsection:
    ``(h) Special Rule for Home Equity Participation Arrangements.--
            ``(1) In general.--The prohibitions provided in subsection 
        (c) shall not apply to any qualified home equity participation 
        arrangement.
            ``(2) Qualified home equity participation arrangement.--For 
        purposes of this subsection--
                    ``(A) In general.--The term `qualified home equity 
                participation arrangement' means an arrangement--
                            ``(i) under which the trustee of an 
                        individual retirement plan, at the direction of 
                        the eligible participant, shall acquire an 
                        ownership interest in all or any part of any 
                        dwelling unit which within a reasonable period 
                        of time (determined at the time the arrangement 
                        is executed) is to be used as the principal 
                        residence for a first-time homebuyer, and
                            ``(ii) which meets the requirements of 
                        subparagraph (B) of this paragraph.
                    ``(B) Ownership interest requirement.--An 
                arrangement shall meet the requirements of this 
                subparagraph if the ownership interest described in 
                subparagraph (A)--
                            ``(i) is a fee interest in such property 
                        equal to the percentage which--
                                    ``(I) the amount invested by the 
                                trustee of the individual retirement 
                                plan, bears to
                                    ``(II) the acquisition cost of or 
                                total equity in the dwelling unit,
                             ``(ii) by its terms requires repayment in 
                        full upon--
                                    ``(I) the sale or other transfer of 
                                the dwelling unit, or
                                    ``(II) the cessation of use as the 
                                principal residence of the first-time 
                                homebuyer, and
                            ``(iii) may not be used as security for any 
                        loan secured by any interest in the dwelling 
                        unit.
            ``(3) Definitions.--For purposes of this subsection--
                    ``(A) Eligible participant.--The term `eligible 
                participant' means an individual on whose behalf an 
                individual retirement plan is established.
                    ``(B) First-time homebuyer.--The term `first-time 
                homebuyer' means an individual who--
                            ``(i) is an eligible participant or 
                        qualified family member, and
                            ``(ii) had (and if married, such 
                        individual's spouse had) no present ownership 
                        interest in a principal residence at any time 
                        during the 36-month period before the date of 
                        the arrangement.
                    ``(C) Qualified family member.--The term `qualified 
                family member' means a child (as defined in section 
                151(c)(3)), parent, or grandparent of the eligible 
                participant (or such participant's spouse). Section 
                152(b)(2) shall apply in determining if an individual 
                is a parent or grandparent of an eligible participant 
                (or such participant's spouse).
                    ``(D) Acquisition; etc.--
                            ``(i) Acquisition.--The term `acquisition' 
                        includes construction, reconstruction, and 
                        improvement related to such acquisition.
                            ``(ii) Acquisition cost.--The term 
                        `acquisition cost' has the meaning given such 
                        term by section 143(k)(3).
                    ``(E) Principal Residence.--The term `principal 
                residence' has the same meaning as when used in section 
                1034.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to arrangements entered into after December 31, 1992.

SEC. 4. LOANS USED TO ACQUIRE PRINCIPAL RESIDENCES FOR FIRST-TIME 
              HOMEBUYERS.

    (a) Individual Retirement Plans.--Section 408(e) of the Internal 
Revenue Code of 1986 (relating to tax treatment of accounts and 
annuities) is amended by adding at the end thereof the following new 
paragraph:
            ``(7) Loans used to purchase a home for first-time 
        homebuyers.--
                    ``(A) In general.--Paragraphs (3) and (4) shall not 
                apply to any qualified home purchase loan made, or 
                secured, by an individual retirement plan.
                    ``(B) Qualified home purchase loan.--For purposes 
                of this paragraph, the term `qualified home purchase 
                loan' means a loan--
                            ``(i) made by the trustee of an individual 
                        retirement plan at the direction of the 
                        individual on whose behalf such plan is 
                        established,
                            ``(ii) the proceeds of which are used for 
                        the acquisition of a dwelling unit which within 
                        a reasonable period of time (determined at the 
                        time the loan is made) is to be used as the 
                        principal residence for a first-time homebuyer,
                            ``(iii) which is secured by the dwelling 
                        unit,
                            ``(iv) which by its terms requires 
                        repayment in full within 15 years after the 
                        date of acquisition of the dwelling unit,
                            ``(v) which by its terms treats any amount 
                        remaining unpaid in the taxable year beginning 
                        after the period described in clause (iv) as 
                        distributed in such taxable year to the 
                        individual on whose behalf such plan is 
                        established and subject to section 72(t)(1), 
                        and
                            ``(vi) which bears interest from the date 
                        of the loan at a rate not less than the rate 
                        for comparable United States Treasury 
                        obligations on such date.
                    ``(C) Definitions.--For purposes of this 
                paragraph--
                            ``(i) First-time homebuyer.--The term 
                        `first-time homebuyer' has the meaning given 
                        such term by section 4975(h)(3)(B).
                            ``(ii) Acquisition.--The term `acquisition' 
                        has the meaning given such term by section 
                        4975(h)(3)(D)(i).
                            ``(iii) Principal residence.--The term 
                        `principal residence' has the same meaning as 
                        when used in section 1034.
                            ``(iv) Date of acquisition.--The term `date 
                        of acquisition' means the date--
                                    ``(I) on which a binding contract 
                                to acquire the principal residence to 
                                which subparagraph (B) applies is 
                                entered into, or
                                    ``(II) on which construction, 
                                reconstruction, or improvement of such 
                                a principal residence is commenced.''.
    (b) Prohibited Transaction.--Section 4975(d) of the Internal 
Revenue Code of 1986 (relating to exemptions from tax on prohibited 
transactions) is amended by striking ``or'' at the end of paragraph 
(14), by striking the period at the end of paragraph (15) and inserting 
``; or'', and by inserting after paragraph (15) the following new 
paragraph:
            ``(16) any loan that is a qualified home purchase loan (as 
        defined in section 408(e)(7)(B)).''.
    (c) Effective Date.--The amendments made by this section shall 
apply to loans made after December 31, 1992.

First-time Homebuyer Affordability Act of 1993 - Amends the Internal Revenue Code to make the tax on prohibited transactions inapplicable to a home equity participation arrangement.  Describes such arrangement as one in which the eligible participant in an individual retirement plan directs the plan trustee to acquire an ownership interest in all or part of any dwelling unit which within a reasonable period of time is to be used as the principal residence for a first-time homebuyer. Requires such ownership interest to be a fee interest which requires full repayment.  Describes the first-time homebuyer as an eligible participant or a qualified family member (child, parent, grandparent, or spouse) who had no present ownership interest in a principal residence during the 36-month period before the date of the arrangement. 
Allows the use of amounts in an individual retirement plan to make loans to purchase a home for a first-time homebuyer on behalf of an eligible participant or a qualified family member. Requires the repayment of first-time homebuyer loans within 15 years.