Q: 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; ETC.

(a) Short Title.--This Act may be cited as the ''Small Business
Jobs Tax Extenders Act of 2011''.
(b) Amendment of 1986 Code.--Except as otherwise expressly
provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision,
the reference shall be considered to be made to a section or other
provision of the Internal Revenue Code of 1986.
(c) Table of Contents.--The table of contents of this Act is as
follows:

Sec. 1. Short title; etc.
Sec. 2. Findings.
TITLE I--EXTENSION OF SMALL BUSINESS TAX RELIEF

Sec. 101. Extension of temporary exclusion of 100 percent of gain on
certain small business stock.
Sec. 102. Extension of 5-year carryback of general business credits of
eligible small businesses.
Sec. 103. Extension of alternative minimum tax rules for general
business credits of eligible small
businesses.
Sec. 104. Extension of temporary reduction in recognition period for
built-in gains tax.
Sec. 105. Extension of increased expensing limitations and treatment of
certain real property as section 179
property.
Sec. 106. Extension of bonus depreciation.
Sec. 107. Extension of special rule for long-term contract accounting.
Sec. 108. Extension of increased amount allowed as a deduction for
start-up expenditures.
Sec. 109. Extension of allowance of deduction for health insurance in
computing self-employment taxes.
TITLE II--OFFSETTING PROVISIONS

Sec. 201. Expansion of affordability exception to individual mandate.

SEC. 2. FINDINGS.

Congress makes the following findings:
(1) A vibrant and growing small business sector is critical
to the recovery of the economy of the United States.
(2) Small businesses represent 99.7 percent of all employer
firms and generate approximately two-thirds of net new jobs.
(3) Broadening the tax base and lowering statutory rates
through comprehensive tax reform is preferable to short term
tax rate extensions.
(4) There is no consensus on Congressional passage and
implementation of such reform at this time; it is therefore
critical that tax relief for small businesses promulgated in
the Small Business Jobs Act of 2010 be extended.

TITLE I--EXTENSION OF SMALL BUSINESS TAX RELIEF

SEC. 101. 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, 2013'', and
(2) by striking ''and 2011'' and inserting ''2011, and
2012'' in the heading thereof.
(b) Effective Date.--The amendments made by this section shall
apply to stock acquired after December 31, 2011.

SEC. 102. EXTENSION OF 5-YEAR CARRYBACK OF GENERAL BUSINESS CREDITS OF
ELIGIBLE SMALL BUSINESSES.

(a) In General.--Subparagraph (A) of section 39(a)(4) is amended by
''or 2011'' after ''2010''.
(b) Effective Date.--The amendment made by this section shall apply
to credits determined in taxable years beginning after December 31,
2010.

SEC. 103. EXTENSION OF ALTERNATIVE MINIMUM TAX RULES FOR GENERAL
BUSINESS CREDITS OF ELIGIBLE SMALL BUSINESSES.

(a) In General.--Subparagraph (A) of section 38(c)(5) is amended by
''or 2011'' after ''2010''.
(b) Effective Date.--The amendments made by this section shall
apply to credits determined in taxable years beginning after December
31, 2010, and to carrybacks of such credits.

SEC. 104. EXTENSION OF TEMPORARY REDUCTION IN RECOGNITION PERIOD FOR
BUILT-IN GAINS TAX.

(a) In General.--Clause (ii) of section 1374(d)(7)(B) is amended by
inserting ''or 2012,'' after ''2011''.
(b) Conforming Amendment.--The heading for section 1372(d)(7)(B) is
amended by striking ''and 2011'' and inserting ''2011, and 2012''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

SEC. 105. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF
CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

(a) In General.--Section 179(b) is amended--
(1) by striking ''2010 or 2011'' each place it appears in
paragraph (1)(B) and (2)(B) and inserting ''2010, 2011, or
2012'',
(2) by striking ''2012'' each place it appears in paragraph
(1)(C) and (2)(C) and inserting ''2013'', and
(3) by striking ''2012'' each place it appears in paragraph
(1)(D) and (2)(D) and inserting ''2013''.
(b) Inflation Adjustment.--Subparagraph (A) of section 179(b)(6) is
amended by striking ''2012'' and inserting ''2013''.
(c) Computer Software.--Section 179(d)(2)(A)(ii) is amended by
striking ''2013'' and inserting ''2014''.
(d) Election.--Section 179(c)(2) is amended by striking ''2013''
and inserting ''2014''.
(e) Special Rules for Treatment of Qualified Real Property.--
Section 179(f)(1) is amended by striking ''2010 or 2011'' and inserting
''2010, 2011, or 2012''.
(f) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

SEC. 106. EXTENSION OF BONUS DEPRECIATION.

(a) In General.--Paragraph (2) of section 168(k) is amended--
(1) by striking ''January 1, 2014'' in subparagraph (A)(iv)
and inserting ''January 1, 2015'', and
(2) by striking ''January 1, 2013'' each place it appears
and inserting ''January 1, 2014''.
(b) 100 Percent Expensing.--Paragraph (5) of section 168(k) is
amended--
(1) by striking ''January 1, 2013'' and inserting ''January
1, 2014'', and
(2) by striking ''January 1, 2012'' each place it appears
and inserting ''January 1, 2013''.
(c) Extension of Election To Accelerate the AMT Credit in Lieu of
Bonus Depreciation.--
(1) In general.--Subclause (II) of section
168(k)(4)(D)(iii) is amended by striking ''2013'' and inserting
''2014''.
(2) Round 3 extension property.--Paragraph (4) of section
168(k) is amended by adding at the end the following new
subparagraph:
''(J) Special rules for round 3 extension
property.--
''(i) In general.--In the case of round 3
extension property, this paragraph shall be
applied without regard to--
''(I) the limitation described in
subparagraph (B)(i) thereof, and
''(II) the business credit increase
amount under subparagraph (E)(iii)
thereof.
''(ii) Taxpayers previously electing
acceleration.--In the case of a taxpayer who
made the election under subparagraph (A) for
its first taxable year ending after March 31,
2008, a taxpayer who made the election under
subparagraph (H)(ii) for its first taxable year
ending after December 31, 2008, or a taxpayer
who made the election under subparagraph
(I)(iii) for its first taxable year ending
after December 31, 2010--
''(I) the taxpayer may elect not to
have this paragraph apply to round 3
extension property, but
''(II) if the taxpayer does not
make the election under subclause (I),
in applying this paragraph to the
taxpayer the bonus depreciation amount,
maximum amount, and maximum increase
amount shall be computed and applied to
eligible qualified property which is
round 3 extension property.
The amounts described in subclause (II) shall
be computed separately from any amounts
computed with respect to eligible qualified
property which is not round 2 extension
property.
''(iii) Taxpayers not previously electing
acceleration.--In the case of a taxpayer who
neither made the election under subparagraph
(A) for its first taxable year ending after
March 31, 2008, nor made the election under
subparagraph (H)(ii) for its first taxable year
ending after December 31, 2008, nor made the
election under subparagraph (I)(iii) for its
first taxable year ending after December 31,
2010--
''(I) the taxpayer may elect to
have this paragraph apply to its first
taxable year ending after December 31,
2011, and each subsequent taxable year,
and
''(II) if the taxpayer makes the
election under subclause (I), this
paragraph shall only apply to eligible
qualified property which is round 3
extension property.
''(iv) Round 3 extension property.--For
purposes of this subparagraph, the term 'round
3 extension property' means property which is
eligible qualified property solely by reason of
the extension of the application of the special
allowance under paragraph (1) pursuant to the
amendments made by section 7(a) of the Small
Business Jobs Tax Extenders Act of 2011 (and
the application of such extension to this
paragraph pursuant to the amendment made by
section 7(c)(1) of such Act).''.
(d) Conforming Amendments.--
(1) The heading for subsection (k) of section 168 is
amended by striking ''January 1, 2013'' and inserting ''January
1, 2014''.
(2) The heading for clause (ii) of section 168(k)(2)(B) is
amended by striking ''pre-january 1, 2013'' and inserting
''pre-january 1, 2014''.
(3) Paragraph (5) of section 168(l) is amended--
(A) by striking ''and'' at the end of subparagraph
(A),
(B) by redesignating subparagraph (C) as
subparagraph (B), and
(C) by inserting after subparagraph (A) the
following new subparagraph:
''(B) by substituting 'January 1, 2013' for
'January 1, 2014' in clause (i) thereof, and''.
(4) Subparagraph (C) of section 168(n)(2) is amended by
striking ''January 1, 2013'' and inserting ''January 1, 2014''.
(5) Subparagraph (D) of section 1400L(b)(2) is amended by
striking ''January 1, 2013'' and inserting ''January 1, 2014''.
(6) Subparagraph (B) of section 1400N(d)(3) is amended by
striking ''January 1, 2013'' and inserting ''January 1, 2014''.
(e) Effective Dates.--The amendments made by this section shall
apply to property placed in service after December 31, 2011, in taxable
years ending after such date.

SEC. 107. EXTENSION OF SPECIAL RULE FOR LONG-TERM CONTRACT ACCOUNTING.

(a) In General.--Clause (ii) of section 460(c)(6)(B) is amended by
striking ''January 1, 2011 (January 1, 2012'' and inserting ''January
1, 2012 (January 1, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2010.

SEC. 108. EXTENSION OF INCREASED AMOUNT ALLOWED AS A DEDUCTION FOR
START-UP EXPENDITURES.

(a) In General.--Paragraph (3) of section 195(b) is amended--
(1) by inserting ''or 2011'' after ''2010'', and
(2) by inserting ''and 2011'' in the heading thereof.
(b) Effective Date.--The amendments made by this section shall
apply to amounts paid or incurred in taxable years beginning after
December 31, 2010.

SEC. 109. EXTENSION OF ALLOWANCE OF DEDUCTION FOR HEALTH INSURANCE IN
COMPUTING SELF-EMPLOYMENT TAXES.

(a) In General.--Paragraph (4) of section 162(l) is amended by
striking ''December 31, 2010'' and inserting ''December 31, 2011''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2010.

TITLE II--OFFSETTING PROVISIONS

SEC. 201. EXPANSION OF AFFORDABILITY EXCEPTION TO INDIVIDUAL MANDATE.

Section 5000A(e)(1) is amended by striking ''8 percent'' each place
it appears and inserting ''5 percent''.
A:
Small Business Jobs Tax Extenders Act of 2011 - Amends the Internal Revenue Code to extend for one year certain tax expenditures for small businesses, including: (1) the 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock, (2) the five-year carryback of tax credit amounts of eligible small businesses, (3) increased expensing and accelerated depreciation allowances, (4) the increased tax deduction for business start-up expenses, and (5) the tax deduction allowed for the health insurance costs of self-employed individuals.

Exempts from the requirement to purchase health insurance under the Patient Protection and Affordable Care Act an indivdual whose required contribution (determined on an annual basis) for coverage for a month exceeds 5% (currently 8%) of such individual's household income for the taxable year.