Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SMALL BUSINESS TAX INCENTIVES.

(a) Increase in Section 179 Expensing.--
(1) Increase in dollar limitation made permanent.--
Paragraph (1) of section 179(b) of the Internal Revenue Code of
1986 (relating to dollar limitation) is amended by striking
''$25,000 ($100,000 in the case of taxable years beginning
after 2002 and before 2008)'' and inserting ''$100,000''.
(2) Increase in threshold for reduction of dollar
limitation.--Paragraph (2) of section 179(b) of such Code
(relating to reduction in limitation) is amended by striking
''$200,000 ($400,000 in the case of taxable years beginning
after 2002 and before 2008)'' and inserting ''$500,000''.
(3) Inflation adjustment.--Paragraph (5) of section 179(b)
of such Code (relating to inflations adjustments) is amended to
read as follows:
''(5) Inflation adjustments.--
''(A) Dollar limitation.--In the case of any
taxable year beginning in a calendar year after 2005,
the $100,000 amount in paragraph (1) shall be increased
by an amount equal to--
''(i) such dollar amount, multiplied by
''(ii) the cost-of-living adjustment under
section 1(f)(3) for the calendar year in which
the taxable year begins determined by
substituting 'calendar year 2002' for 'calendar
year 1992' in subparagraph (B) thereof.
''(B) Phaseout amount.--In the case of any taxable
year beginning in a calendar year after 2006, the
$500,000 amount in paragraph (2) shall be increased by
an amount equal to--
''(i) such dollar amount, multiplied by
''(ii) the cost-of-living adjustment under
section 1(f)(3) for the calendar year in which
the taxable year begins determined by
substituting 'calendar year 2005' for 'calendar
year 1992' in subparagraph (B) thereof.
''(C) Rounding.--
''(i) Dollar limitation.--If the amount in
paragraph (1) as increased under subparagraph
(A) is not a multiple of $1,000, such amount
shall be rounded to the nearest multiple of
$1,000.
''(ii) Phaseout amount.--If the amount in
paragraph (2) as increased under subparagraph
(B) is not a multiple of $10,000, such amount
shall be rounded to the nearest multiple of
$10,000.''.
(4) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31, 2005.
(b) Work Opportunity Credit, Welfare-to-Work Credit, and Research
Credit Allowed Against Alternative Minimum Tax.--
(1) In general.--Subparagraph (B) of section 38(c)(4) of
the Internal Revenue Code of 1986 is amended by striking the
period at the end of clause (ii)(II) and inserting a comma and
by adding at the end the following new clauses:
''(iii) the credit determined under section
51,
''(iv) the credit determined under section
51A, and
''(v) the credit determined under section
41.''.
(2) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31, 2005.

SEC. 2. STANDARD HOME OFFICE DEDUCTION.

(a) In General.--Subsection (c) of section 280A of the Internal
Revenue Code of 1986 (relating to disallowance of certain expenses in
connection with business use of home, rental of vacation homes, etc.)
is amended by adding at the end the following new paragraph:
''(7) Standard home office deduction.--If the taxpayer
elects (at such time and in such form and manner as the
Secretary may prescribe) to have this paragraph apply for any
taxable year, in the case of a use described in paragraph (1),
(2), or (4), and in the case of a use described in paragraph
(3) where the dwelling unit is used by the taxpayer during the
taxable year as a residence--
''(A) there shall be allowed as a deduction an
amount equal to $2,500, and
''(B) no deduction otherwise allowable under this
chapter shall be allowed with respect to such use.''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after the date of the enactment of this Act.

SEC. 3. MINIMUM WAGE PROVISIONS.

(a) Exemption for Small Employers.--
(1) In general.--Section 6 of the Fair Labor Standards Act
of 1938 (29 U.S.C. 206) is amended--
(A) in subsection (a), by inserting after ''Every
employer'' the following: ''who employs ten or more
employees''; and
(B) in subsection (b), by inserting after ''Every
employer'' the following: ''who employs ten or more
employees''.
(2) Effective date.--The amendments made by this subsection
shall apply beginning October 1, 2006.
(b) Phased Increase.--Section 6(a) of such Act (29 U.S.C. 206(a))
is amended by striking paragraph (1) and inserting the following new
paragraph:
''(1) except as otherwise provided in this section, not
less than $5.15 an hour through the period ending September 30,
2006, not less than $5.50 an hour during the year beginning
October 1, 2006, not less than $6.00 an hour during the year
beginning October 1, 2007, and not less than $6.50 an hour
beginning October 1, 2008;''.

SEC. 4. INCREASED EXEMPTION FOR ANNUAL GROSS VOLUME OF SALES MADE OR
BUSINESS DONE BY AN ENTERPRISE.

Section 3(s)(1)(A)(ii) of the Fair Labor Standards Act of 1938 (29
U.S.C. 203(s)(1)(A)(ii)) is amended to read as follows:
''(ii) is an enterprise whose gross volume of sales
made or business done during the taxable year
(exclusive of excise taxes at the retail level that are
separately stated) is not less than $500,000 in the
case of taxable years ending before October 1, 2006,
not less than $650,000 in the case of taxable years
ending during the year beginning October 1, 2006, not
less than $800,000 in the case of taxable years ending
during the year beginning October 1, 2007, and not less
than $1,000,000 in the case of taxable years ending
after September 30, 2008;''.

SEC. 5. EARNED INCOME EXCLUSION UNDER THE SSI PROGRAM.

(a) In General.--Section 1612(b) of the Social Security Act (42
U.S.C. 1382a(b)) is amended--
(1) by striking ''and'' at the end of paragraph (22);
(2) by striking the period at the end of paragraph (23) and
inserting ''; and''; and
(3) by adding at the end the following:
''(24)(A) if such individual does not have an eligible
spouse, the amount (if any) by which the minimum wage rate in
effect for the month under section 6 of the Fair Labor
Standards Act of 1938 multiplied by the number of hours for
which such individual is gainfully employed during the month
exceeds the total amount of earned income of such individual
excluded by the preceding provisions of this subsection for the
month; or
''(B) if such individual has an eligible spouse, the amount
(if any) by which the minimum wage rate in effect for the month
under section 6 of the Fair Labor Standards Act of 1938
multiplied by the total number of hours for which such
individual and such spouse are gainfully employed during the
month exceeds the total amount of earned income of such
individual and such spouse excluded by the preceding provisions
of this subsection for the month.''.
(b) Effective Date.--The amendments made by subsection (a) shall
take effect on October 1, 2006, and shall apply to benefits for months
beginning on or after such date.
A:
Amends the Internal Revenue Code to make permanent the increased expensing allowance ($100,000) for depreciable business property. Increases to $500,000 the income threshold for reducing the expensing allowance and makes such threshold amount permanent. Provides for an inflation adjustment to the allowance and the threshold.

Allows a credit against alternative minimum tax liability for the work opportunity tax credit, the welfare to work tax credit, and the tax credit for increasing research activities.

Provides for a minimum standard tax deduction of $2,500 for expenses for the business use of a home.

Amends the Fair Labor Standards Act of 1938 to: (1) exempt from minimum wage requirements employers with less than ten employees; (2) increase the minimum wage to $5.50 beginning October 1, 2006, $6.00 beginning October 1, 2007, and $6.50 beginning October 1, 2008; and (3) phase in an increase in the gross volume of sales amount applicable to the small business exemption from minimum wage requirements.

Amends title XVI (Supplemental Security Income) of the Social Security Act to exclude from income determinations under the supplemental security income programs minimum wage income that exceeds certain earned income.