SA 4753. Mr. REID (for himself and Mr. McConnell) proposed an
amendment to the bill H.R. 4853, to amend the Internal Revenue Code of
1986 to extend the funding and expenditure authority of the Airport and
Airway I rust Fund, to amend title 49, United States Code, to extend
authorizations for the airport improvement program, and for other
purposes; as follows:

In lieu of the matter proposed to be inserted, insert the
following:

SECTION 1. SHORT TITLE; ETC.

(a) Short Title.--This Act may be cited as the ``Tax
Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010''.
(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 for this Act
is as follows:

Sec. 1. Short title; etc.

TITLE I--TEMPORARY EXTENSION OF TAX RELIEF

Sec. 101. Temporary extension of 2001 tax relief.
Sec. 102. Temporary extension of 2003 tax relief.
Sec. 103. Temporary extension of 2009 tax relief.

TITLE II--TEMPORARY EXTENSION OF INDIVIDUAL AMT RELIEF

Sec. 201. Temporary extension of increased alternative minimum tax
exemption amount.
Sec. 202. Temporary extension of alternative minimum tax relief for
nonrefundable personal credits.

TITLE III--TEMPORARY ESTATE TAX RELIEF

Sec. 301. Reinstatement of estate tax; repeal of carryover basis.
Sec. 302. Modifications to estate, gift, and generation-skipping
transfer taxes.
Sec. 303. Applicable exclusion amount increased by unused exclusion
amount of deceased spouse.
Sec. 304. Application of EGTRRA sunset to this title.

TITLE IV--TEMPORARY EXTENSION OF INVESTMENT INCENTIVES

Sec. 401. Extension of bonus depreciation; temporary 100 percent
expensing for certain business assets.
Sec. 402. Temporary extension of increased small business expensing.

TITLE V--TEMPORARY EXTENSION OF UNEMPLOYMENT INSURANCE AND RELATED
MATTERS

Sec. 501. Temporary extension of unemployment insurance provisions.
Sec. 502. Temporary modification of indicators under the extended
benefit program.
Sec. 503. Technical amendment relating to collection of unemployment
compensation debts.
Sec. 504. Technical correction relating to repeal of continued dumping
and subsidy offset.
Sec. 505. Additional extended unemployment benefits under the Railroad
Unemployment Insurance Act.

TITLE VI--TEMPORARY EMPLOYEE PAYROLL TAX CUT

Sec. 601. Temporary employee payroll tax cut.

TITLE VII--TEMPORARY EXTENSION OF CERTAIN EXPIRING PROVISIONS

Subtitle A--Energy

Sec. 701. Incentives for biodiesel and renewable diesel.
Sec. 702. Credit for refined coal facilities.
Sec. 703. New energy efficient home credit.
Sec. 704. Excise tax credits and outlay payments for alternative fuel
and alternative fuel mixtures.
Sec. 705. Special rule for sales or dispositions to implement FERC or
State electric restructuring policy for qualified
electric utilities.
Sec. 706. Suspension of limitation on percentage depletion for oil and
gas from marginal wells.
Sec. 707. Extension of grants for specified energy property in lieu of
tax credits.
Sec. 708. Extension of provisions related to alcohol used as fuel.
Sec. 709. Energy efficient appliance credit.
Sec. 710. Credit for nonbusiness energy property.
Sec. 711. Alternative fuel vehicle refueling property.

Subtitle B--Individual Tax Relief

Sec. 721. Deduction for certain expenses of elementary and secondary
school teachers.
Sec. 722. Deduction of State and local sales taxes.
Sec. 723. Contributions of capital gain real property made for
conservation purposes.
Sec. 724. Above-the-line deduction for qualified tuition and related
expenses.
Sec. 725. Tax-free distributions from individual retirement plans for
charitable purposes.
Sec. 726. Look-thru of certain regulated investment company stock in
determining gross estate of nonresidents.
Sec. 727. Parity for exclusion from income for employer-provided mass
transit and parking benefits.
Sec. 728. Refunds disregarded in the administration of Federal programs
and federally assisted programs.

Subtitle C--Business Tax Relief

Sec. 731. Research credit.
Sec. 732. Indian employment tax credit.
Sec. 733. New markets tax credit.
Sec. 734. Railroad track maintenance credit.
Sec. 735. Mine rescue team training credit.
Sec. 736. Employer wage credit for employees who are active duty
members of the uniformed services.
Sec. 737. 15-year straight-line cost recovery for qualified leasehold
improvements, qualified restaurant buildings and
improvements, and qualified retail improvements.
Sec. 738. 7-year recovery period for motorsports entertainment
complexes.
Sec. 739. Accelerated depreciation for business property on an Indian
reservation.
Sec. 740. Enhanced charitable deduction for contributions of food
inventory.
Sec. 741. Enhanced charitable deduction for contributions of book
inventories to public schools.
Sec. 742. Enhanced charitable deduction for corporate contributions of
computer inventory for educational purposes.
Sec. 743. Election to expense mine safety equipment.
Sec. 744. Special expensing rules for certain film and television
productions.
Sec. 745. Expensing of environmental remediation costs.
Sec. 746. Deduction allowable with respect to income attributable to
domestic production activities in Puerto Rico.
Sec. 747. Modification of tax treatment of certain payments to
controlling exempt organizations.
Sec. 748. Treatment of certain dividends of regulated investment
companies.
Sec. 749. RIC qualified investment entity treatment under FIRPTA.
Sec. 750. Exceptions for active financing income.

[[Page S8720]]

Sec. 751. Look-thru treatment of payments between related controlled
foreign corporations under foreign personal holding
company rules.
Sec. 752. Basis adjustment to stock of S corps making charitable
contributions of property.
Sec. 753. Empowerment zone tax incentives.
Sec. 754. Tax incentives for investment in the District of Columbia.
Sec. 755. Temporary increase in limit on cover over of rum excise taxes
to Puerto Rico and the Virgin Islands.
Sec. 756. American Samoa economic development credit.
Sec. 757. Work opportunity credit.
Sec. 758. Qualified zone academy bonds.
Sec. 759. Mortgage insurance premiums.
Sec. 760. Temporary exclusion of 100 percent of gain on certain small
business stock.

Subtitle D--Temporary Disaster Relief Provisions

subpart a--new york liberty zone

Sec. 761. Tax-exempt bond financing.

subpart b--go zone

Sec. 762. Increase in rehabilitation credit.
Sec. 763. Low-income housing credit rules for buildings in GO zones.
Sec. 764. Tax-exempt bond financing.
Sec. 765. Bonus depreciation deduction applicable to the GO Zone.

TITLE VIII--BUDGETARY PROVISIONS

Sec. 801. Determination of budgetary effects.
Sec. 802. Emergency designations.

TITLE I--TEMPORARY EXTENSION OF TAX RELIEF

SEC. 101. TEMPORARY EXTENSION OF 2001 TAX RELIEF.

(a) Temporary Extension.--
(1) In general.--Section 901 of the Economic Growth and Tax
Relief Reconciliation Act of 2001 is amended by striking
``December 31, 2010'' both places it appears and inserting
``December 31, 2012''.
(2) Effective date.--The amendment made by this subsection
shall take effect as if included in the enactment of the
Economic Growth and Tax Relief Reconciliation Act of 2001.
(b) Separate Sunset for Expansion of Adoption Benefits
Under the Patient Protection and Affordable Care Act.--
(1) In general.--Subsection (c) of section 10909 of the
Patient Protection and Affordable Care Act is amended to read
as follows:
``(c) Sunset Provision.--Each provision of law amended by
this section is amended to read as such provision would read
if this section had never been enacted. The amendments made
by the preceding sentence shall apply to taxable years
beginning after December 31, 2011.''.
(2) Conforming amendment.--Subsection (d) of section 10909
of such Act is amended by striking ``The amendments'' and
inserting ``Except as provided in subsection (c), the
amendments''.

SEC. 102. TEMPORARY EXTENSION OF 2003 TAX RELIEF.

(a) In General.--Section 303 of the Jobs and Growth Tax
Relief Reconciliation Act of 2003 is amended by striking
``December 31, 2010'' and inserting ``December 31, 2012''.
(b) Effective Date.--The amendment made by this section
shall take effect as if included in the enactment of the Jobs
and Growth Tax Relief Reconciliation Act of 2003.

SEC. 103. TEMPORARY EXTENSION OF 2009 TAX RELIEF.

(a) American Opportunity Tax Credit.--
(1) In general.--Section 25A(i) is amended by striking ``or
2010'' and inserting ``, 2010, 2011, or 2012''.
(2) Treatment of possessions.--Section 1004(c)(1) of the
American Recovery and Reinvestment Tax Act of 2009 is amended
by striking ``and 2010'' each place it appears and inserting
``, 2010, 2011, and 2012''.
(b) Child Tax Credit.--Section 24(d)(4) is amended--
(1) by striking ``2009 and 2010'' in the heading and
inserting ``2009, 2010, 2011, and 2012'', and
(2) by striking ``or 2010'' and inserting ``, 2010, 2011,
or 2012''.
(c) Earned Income Tax Credit.--Section 32(b)(3) is
amended--
(1) by striking ``2009 and 2010'' in the heading and
inserting ``2009, 2010, 2011, and 2012'', and
(2) by striking ``or 2010'' and inserting ``, 2010, 2011,
or 2012''.
(d) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2010.

TITLE II--TEMPORARY EXTENSION OF INDIVIDUAL AMT RELIEF

SEC. 201. TEMPORARY EXTENSION OF INCREASED ALTERNATIVE
MINIMUM TAX EXEMPTION AMOUNT.

(a) In General.--Paragraph (1) of section 55(d) is
amended--
(1) by striking ``$70,950'' and all that follows through
``2009'' in subparagraph (A) and inserting ``$72,450 in the
case of taxable years beginning in 2010 and $74,450 in the
case of taxable years beginning in 2011'', and
(2) by striking ``$46,700'' and all that follows through
``2009'' in subparagraph (B) and inserting ``$47,450 in the
case of taxable years beginning in 2010 and $48,450 in the
case of taxable years beginning in 2011''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.
(c) Repeal of EGTRRA Sunset.--Title IX of the Economic
Growth and Tax Relief Reconciliation Act of 2001 (relating to
sunset of provisions of such Act) shall not apply to title
VII of such Act (relating to alternative minimum tax).

SEC. 202. TEMPORARY EXTENSION OF ALTERNATIVE MINIMUM TAX
RELIEF FOR NONREFUNDABLE PERSONAL CREDITS.

(a) In General.--Paragraph (2) of section 26(a) is
amended--
(1) by striking ``or 2009'' and inserting ``2009, 2010, or
2011'', and
(2) by striking ``2009'' in the heading thereof and
inserting ``2011''.
(b)  Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.

TITLE III--TEMPORARY ESTATE TAX RELIEF

SEC. 301. REINSTATEMENT OF ESTATE TAX; REPEAL OF CARRYOVER
BASIS.

(a) In General.--Each provision of law amended by subtitle
A or E of title V of the Economic Growth and Tax Relief
Reconciliation Act of 2001 is amended to read as such
provision would read if such subtitle had never been enacted.
(b) Conforming Amendment.--On and after January 1, 2011,
paragraph (1) of section 2505(a) of the Internal Revenue Code
of 1986 is amended to read as such paragraph would read if
section 521(b)(2) of the Economic Growth and Tax Relief
Reconciliation Act of 2001 had never been enacted.
(c) Special Election With Respect to Estates of Decedents
Dying in 2010.--Notwithstanding subsection (a), in the case
of an estate of a decedent dying after December 31, 2009, and
before January 1, 2011, the executor (within the meaning of
section 2203 of the Internal Revenue Code of 1986) may elect
to apply such Code as though the amendments made by
subsection (a) do not apply with respect to chapter 11 of
such Code and with respect to property acquired or passing
from such decedent (within the meaning of section 1014(b) of
such Code).  Such election shall be made at such time and in
such manner as the Secretary of the Treasury or the
Secretary's delegate shall provide. Such an election once
made shall be revocable only with the consent of the
Secretary of the Treasury or the Secretary's delegate. For
purposes of section 2652(a)(1) of such Code, the
determination of whether any property is subject to the tax
imposed by such chapter 11 shall be made without regard to
any election made under this subsection.
(d) Extension of Time for Performing Certain Acts.--
(1) Estate tax.--In the case of the estate of a decedent
dying after December 31, 2009, and before the date of the
enactment of this Act, the due date for--
(A) filing any return under section 6018 of the Internal
Revenue Code of 1986 (including any election required to be
made on such a return) as such section is in effect after the
date of the enactment of this Act without regard to any
election under subsection (c),
(B) making any payment of tax under chapter 11 of such
Code, and
(C) making any disclaimer described in section 2518(b) of
such Code of an interest in property passing by reason of the
death of such decedent,

shall not be earlier than the date which is 9 months after
the date of the enactment of this Act.
(2) Generation-skipping tax.--In the case of any
generation-skipping transfer made after December 31, 2009,
and before the date of the enactment of this Act, the due
date for filing any return under section 2662 of the Internal
Revenue Code of 1986 (including any election required to be
made on such a return) shall not be earlier than the date
which is 9 months after the date of the enactment of this
Act.
(e) Effective Date.--Except as otherwise provided in this
section, the amendments made by this section shall apply to
estates of decedents dying, and transfers made, after
December 31, 2009.

SEC. 302. MODIFICATIONS TO ESTATE, GIFT, AND GENERATION-
SKIPPING TRANSFER TAXES.

(a) Modifications to Estate Tax.--
(1) $5,000,000 applicable exclusion amount.--Subsection (c)
of section 2010 is amended to read as follows:
``(c) Applicable Credit Amount.--
``(1) In general.--For purposes of this section, the
applicable credit amount is the amount of the tentative tax
which would be determined under section 2001(c) if the amount
with respect to which such tentative tax is to be computed
were equal to the applicable exclusion amount.
``(2) Applicable exclusion amount.--
``(A) In general.--For purposes of this subsection, the
applicable exclusion amount is $5,000,000.
``(B) Inflation adjustment.--In the case of any decedent
dying in a calendar year after 2011, the dollar amount in
subparagraph (A) shall be increased by an amount equal to--
``(i) such dollar amount, multiplied by
``(ii) the cost-of-living adjustment determined under
section 1(f)(3) for such calendar year by substituting
`calendar year 2010' for `calendar year 1992' in subparagraph
(B) thereof.

If any amount as adjusted under the preceding sentence is not
a multiple of $10,000, such amount shall be rounded to the
nearest multiple of $10,000.''.

[[Page S8721]]

(2) Maximum estate tax rate equal to 35 percent.--
Subsection (c) of section 2001 is amended--
(A) by striking ``Over $500,000'' and all that follows in
the table contained in paragraph (1) and inserting the
following:

``Over $500,000...........................  $155,800, plus 35 percent of
the excess of such amount
over $500,000.'',

(B) by striking ``(1) In general.--'', and
(C) by striking paragraph (2).
(b) Modifications to Gift Tax.--
(1) Restoration of unified credit against gift tax.--
(A) In general.--Paragraph (1) of section 2505(a), after
the application of section 301(b), is amended by striking
``(determined as if the applicable exclusion amount were
$1,000,000)''.
(B) Effective date.--The amendment made by this paragraph
shall apply to gifts made after December 31, 2010.
(2) Modification of gift tax rate.--On and after January 1,
2011, subsection (a) of section 2502 is amended to read as
such subsection would read if section 511(d) of the Economic
Growth and Tax Relief Reconciliation Act of 2001 had never
been enacted.
(c) Modification of Generation-skipping Transfer Tax.--In
the case of any generation-skipping transfer made after
December 31, 2009, and before January 1, 2011, the applicable
rate determined under section 2641(a) of the Internal Revenue
Code of 1986 shall be zero.
(d) Modifications of Estate and Gift Taxes to Reflect
Differences in Credit Resulting From Different Tax Rates.--
(1) Estate tax.--
(A) In general.--Section 2001(b)(2) is amended by striking
``if the provisions of subsection (c) (as in effect at the
decedent's death)'' and inserting ``if the modifications
described in subsection (g)''.
(B) Modifications.--Section 2001 is amended by adding at
the end the following new subsection:
``(g) Modifications to Gift Tax Payable to Reflect
Different Tax Rates.--For purposes of applying subsection
(b)(2) with respect to 1 or more gifts, the rates of tax
under subsection (c) in effect at the decedent's death shall,
in lieu of the rates of tax in effect at the time of such
gifts, be used both to compute--
``(1) the tax imposed by chapter 12 with respect to such
gifts, and
``(2) the credit allowed against such tax under section
2505, including in computing--
``(A) the applicable credit amount under section
2505(a)(1), and
``(B) the sum of the amounts allowed as a credit for all
preceding periods under section 2505(a)(2).''.
(2) Gift tax.--Section 2505(a) is amended by adding at the
end the following new flush sentence:

``For purposes of applying paragraph (2) for any calendar
year, the rates of tax in effect under section 2502(a)(2) for
such calendar year shall, in lieu of the rates of tax in
effect for preceding calendar periods, be used in determining
the amounts allowable as a credit under this section for all
preceding calendar periods.''.
(e) Conforming Amendment.--Section 2511 is amended by
striking subsection (c).
(f) Effective Date.--Except as otherwise provided in this
subsection, the amendments made by this section shall apply
to estates of decedents dying, generation-skipping transfers,
and gifts made, after December 31, 2009.

SEC. 303. APPLICABLE EXCLUSION AMOUNT INCREASED BY UNUSED
EXCLUSION AMOUNT OF DECEASED SPOUSE.

(a) In General.--Section 2010(c), as amended by section
302(a), is amended by striking paragraph (2) and inserting
the following new paragraphs:
``(2) Applicable exclusion amount.--For purposes of this
subsection, the applicable exclusion amount is the sum of--
``(A) the basic exclusion amount, and
``(B) in the case of a surviving spouse, the deceased
spousal unused exclusion amount.
``(3) Basic exclusion amount.--
``(A) In general.--For purposes of this subsection, the
basic exclusion amount is $5,000,000.
``(B) Inflation adjustment.--In the case of any decedent
dying in a calendar year after 2011, the dollar amount in
subparagraph (A) shall be increased by an amount equal to--
``(i) such dollar amount, multiplied by
``(ii) the cost-of-living adjustment determined under
section 1(f)(3) for such calendar year by substituting
`calendar year 2010' for `calendar year 1992' in subparagraph
(B) thereof.

If any amount as adjusted under the preceding sentence is not
a multiple of $10,000, such amount shall be rounded to the
nearest multiple of $10,000.
``(4) Deceased spousal unused exclusion amount.--For
purposes of this subsection, with respect to a surviving
spouse of a deceased spouse dying after December 31, 2010,
the term `deceased spousal unused exclusion amount' means the
lesser of--
``(A) the basic exclusion amount, or
``(B) the excess of--
``(i) the basic exclusion amount of the last such deceased
spouse of such surviving spouse, over
``(ii) the amount with respect to which the tentative tax
is determined under section 2001(b)(1) on the estate of such
deceased spouse.
``(5) Special rules.--
``(A) Election required.--A deceased spousal unused
exclusion amount may not be taken into account by a surviving
spouse under paragraph (2) unless the executor of the estate
of the deceased spouse files an estate tax return on which
such amount is computed and makes an election on such return
that such amount may be so taken into account. Such election,
once made, shall be irrevocable. No election may be made
under this subparagraph if such return is filed after the
time prescribed by law (including extensions) for filing such
return.
``(B) Examination of prior returns after expiration of
period of limitations with respect to deceased spousal unused
exclusion amount.--Notwithstanding any period of limitation
in section 6501, after the time has expired under section
6501 within which a tax may be assessed under chapter 11 or
12 with respect to a deceased spousal unused exclusion
amount, the Secretary may examine a return of the deceased
spouse to make determinations with respect to such amount for
purposes of carrying out this subsection.
``(6) Regulations.--The Secretary shall prescribe such
regulations as may be necessary or appropriate to carry out
this subsection.''.
(b) Conforming Amendments.--
(1) Paragraph (1) of section 2505(a), as amended by section
302(b)(1), is amended to read as follows:
``(1) the applicable credit amount in effect under section
2010(c) which would apply if the donor died as of the end of
the calendar year, reduced by''.
(2) Section 2631(c) is amended by striking ``the applicable
exclusion amount'' and inserting ``the basic exclusion
amount''.
(3) Section 6018(a)(1) is amended by striking ``applicable
exclusion amount'' and inserting ``basic exclusion amount''.
(c) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to estates of
decedents dying and gifts made after December 31, 2010.
(2) Conforming amendment relating to generation-skipping
transfers.--The amendment made by subsection (b)(2) shall
apply to generation-skipping transfers after December 31,
2010.

SEC. 304. APPLICATION OF EGTRRA SUNSET TO THIS TITLE.

Section 901 of the Economic Growth and Tax Relief
Reconciliation Act of 2001 shall apply to the amendments made
by this section.

TITLE IV--TEMPORARY EXTENSION OF INVESTMENT INCENTIVES

SEC. 401. EXTENSION OF BONUS DEPRECIATION; TEMPORARY 100
PERCENT EXPENSING FOR CERTAIN BUSINESS ASSETS.

(a) In General.--Paragraph (2) of section 168(k) is
amended--
(1) by striking ``January 1, 2012'' in subparagraph (A)(iv)
and inserting ``January 1, 2014'', and
(2) by striking ``January 1, 2011'' each place it appears
and inserting ``January 1, 2013''.
(b) Temporary 100 Percent Expensing.--Subsection (k) of
section 168 is amended by adding at the end the following new
paragraph:
``(5) Special rule for property acquired during certain
pre-2012 periods.--In the case of qualified property acquired
by the taxpayer (under rules similar to the rules of clauses
(ii) and (iii) of paragraph (2)(A)) after September 8, 2010,
and before January 1, 2012, and which is placed in service by
the taxpayer before January 1, 2012 (January 1, 2013, in the
case of property described in subparagraph (2)(B) or (2)(C)),
paragraph (1)(A) shall be applied by substituting `100
percent' for `50 percent'.''.
(c) Extension of Election to Accelerate the AMT Credit in
Lieu of Bonus Depreciation.--
(1) Extension.--Clause (iii) of section 168(k)(4)(D) is
amended by striking ``or production'' and all that follows
and inserting ``or production--

``(I) after March 31, 2008, and before January 1, 2010, and
``(II) after December 31, 2010, and before January 1, 2013,

shall be taken into account under subparagraph (B)(ii)
thereof,''.
(2) Rules for round 2 extension property.--Paragraph (4) of
section 168(k) is amended by adding at the end the following
new subparagraph:
``(I) Special rules for round 2 extension property.--
``(i) In general.--In the case of round 2 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,
or a taxpayer who made the election under subparagraph
(H)(ii) for its first taxable year ending after December 31,
2008--

``(I) the taxpayer may elect not to have this paragraph
apply to round 2 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 2 extension property.

[[Page S8722]]

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--

``(I) the taxpayer may elect to have this paragraph apply
to its first taxable year ending after December 31, 2010, 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 2 extension property.

``(iv) Round 2 extension property.--For purposes of this
subparagraph, the term `round 2 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 401(a) of the Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010 (and the
application of such extension to this paragraph pursuant to
the amendment made by section 401(c)(1) of such Act).''.
(d) Conforming Amendments.--
(1) The heading for subsection (k) of section 168 is
amended by striking ``January 1, 2011'' and inserting
``January 1, 2013''.
(2) The heading for clause (ii) of section 168(k)(2)(B) is
amended by striking ``pre-january 1, 2011'' and inserting
``pre-january 1, 2013''.
(3) Subparagraph (D) of section 168(k)(4) is amended--
(A) by striking clauses (iv) and (v),
(B) by inserting ``and'' at the end of clause (ii), and
(C) by striking the comma at the end of clause (iii) and
inserting a period.
(4) Paragraph (5) of section 168(l) is amended--
(A) by inserting ``and'' at the end of subparagraph (A),
(B) by striking subparagraph (B), and
(C) by redesignating subparagraph (C) as subparagraph (B).
(5) Subparagraph (C) of section 168(n)(2) is amended by
striking ``January 1, 2011'' and inserting ``January 1,
2013''.
(6) Subparagraph (D) of section 1400L(b)(2) is amended by
striking ``January 1, 2011'' and inserting ``January 1,
2013''.
(7) Subparagraph (B) of section 1400N(d)(3) is amended by
striking ``January 1, 2011'' and inserting ``January 1,
2013''.
(e) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to property
placed in service after December 31, 2010, in taxable years
ending after such date.
(2) Temporary 100 percent expensing.--The amendment made by
subsection (b) shall apply to property placed in service
after September 8, 2010, in taxable years ending after such
date.

SEC. 402. TEMPORARY EXTENSION OF INCREASED SMALL BUSINESS
EXPENSING.

(a) Dollar Limitation.--Section 179(b)(1) is amended by
striking ``and'' at the end of subparagraph (B) and by
striking subparagraph (C) and inserting the following new
subparagraphs:
``(C) $125,000 in the case of taxable years beginning in
2012, and
``(D) $25,000 in the case of taxable years beginning after
2012.''.
(b) Reduction in Limitation.--Section 179(b)(2) is amended
by striking ``and'' at the end of subparagraph (B) and by
striking subparagraph (C) and inserting the following new
subparagraphs:
``(C) $500,000 in the case of taxable years beginning in
2012, and
``(D) $200,000 in the case of taxable years beginning after
2012.''.
(c) Inflation Adjustment.--Subsection (b) of section 179 is
amended by adding at the end the following new paragraph:
``(6) Inflation adjustment.--
``(A) In general.--In the case of any taxable year
beginning in calendar year 2012, the $125,000 and $500,000
amounts in paragraphs (1)(C) and (2)(C) shall each be
increased by an amount equal to--
``(i) such dollar amount, multiplied by
``(ii) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, by substituting `calendar year 2006' for
`calendar year 1992' in subparagraph (B) thereof.
``(B) 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 (A) is not a multiple of
$10,000, such amount shall be rounded to the nearest multiple
of $10,000.''.
(d) Computer Software.--Section 179(d)(1)(A)(ii) is amended
by striking ``2012'' and inserting ``2013''.
(e) Conforming Amendment.--Section 179(c)(2) is amended by
striking ``2012'' and inserting ``2013''.
(f) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2011.

TITLE V--TEMPORARY EXTENSION OF UNEMPLOYMENT INSURANCE AND RELATED
MATTERS

SEC. 501. TEMPORARY EXTENSION OF UNEMPLOYMENT INSURANCE
PROVISIONS.

(a) In General.--(1) Section 4007 of the Supplemental
Appropriations Act, 2008 (Public Law 110-252; 26 U.S.C. 3304
note) is amended--
(A) by striking ``November 30, 2010'' each place it appears
and inserting ``January 3, 2012'';
(B) in the heading for subsection (b)(2), by striking
``november 30, 2010'' and inserting ``january 3, 2012''; and
(C) in subsection (b)(3), by striking ``April 30, 2011''
and inserting ``June 9, 2012''.
(2) Section 2005 of the Assistance for Unemployed Workers
and Struggling Families Act, as contained in Public Law 111-5
(26 U.S.C. 3304 note; 123 Stat. 444), is amended--
(A) by striking ``December 1, 2010'' each place it appears
and inserting ``January 4, 2012''; and
(B) in subsection (c), by striking ``May 1, 2011'' and
inserting ``June 11, 2012''.
(3) Section 5 of the Unemployment Compensation Extension
Act of 2008 (Public Law 110-449; 26 U.S.C. 3304 note) is
amended by striking ``April 30, 2011'' and inserting ``June
10, 2012''.
(b) Funding.--Section 4004(e)(1) of the Supplemental
Appropriations Act, 2008 (Public Law 110-252; 26 U.S.C. 3304
note) is amended--
(1) in subparagraph (E), by striking ``and'' at the end;
and
(2) by inserting after subparagraph (F) the following:
``(G) the amendments made by section 501(a)(1) of the Tax
Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010; and''.
(c) Effective Date.--The amendments made by this section
shall take effect as if included in the enactment of the
Unemployment Compensation Extension Act of 2010 (Public Law
111-205).

SEC. 502. TEMPORARY MODIFICATION OF INDICATORS UNDER THE
EXTENDED BENEFIT PROGRAM.

(a) Indicator.--Section 203(d) of the Federal-State
Extended Unemployment Compensation Act of 1970 (26 U.S.C.
3304 note) is amended, in the flush matter following
paragraph (2), by inserting after the first sentence the
following sentence: ``Effective with respect to compensation
for weeks of unemployment beginning after the date of
enactment of the Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010 (or, if later,
the date established pursuant to State law), and ending on or
before December 31, 2011, the State may by law provide that
the determination of whether there has been a state `on' or
`off' indicator beginning or ending any extended benefit
period shall be made under this subsection as if the word
`two' were `three' in subparagraph (1)(A).''.
(b) Alternative Trigger.--Section 203(f) of the Federal-
State Extended Unemployment Compensation Act of 1970 (26
U.S.C. 3304 note) is amended--
(1) by redesignating paragraph (2) as paragraph (3); and
(2) by inserting after paragraph (1) the following new
paragraph:
``(2) Effective with respect to compensation for weeks of
unemployment beginning after the date of enactment of the Tax
Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010 (or, if later, the date established
pursuant to State law), and ending on or before December 31,
2011, the State may by law provide that the determination of
whether there has been a state `on' or `off' indicator
beginning or ending any extended benefit period shall be made
under this subsection as if the word `either' were `any', the
word ``both'' were `all', and the figure `2' were `3' in
clause (1)(A)(ii).''.

SEC. 503. TECHNICAL AMENDMENT RELATING TO COLLECTION OF
UNEMPLOYMENT COMPENSATION DEBTS.

(a) In General.--Section 6402(f)(3)(C), as amended by
section 801 of the Claims Resolution Act of 2010, is amended
by striking ``is not a covered unemployment compensation
debt'' and inserting ``is a covered unemployment compensation
debt''.
(b) Effective Date.--The amendment made by subsection (a)
shall take effect as if included in section 801 of the Claims
Resolution Act of 2010.

SEC. 504. TECHNICAL CORRECTION RELATING TO REPEAL OF
CONTINUED DUMPING AND SUBSIDY OFFSET.

(a) In General.--Section 822(2)(A) of the Claims Resolution
Act of 2010 is amended by striking ``or'' and inserting
``and''.
(b) Effective Date.--The amendment made by subsection (a)
shall take effect as if included in the provisions of the
Claims Resolution Act of 2010.

SEC. 505. ADDITIONAL EXTENDED UNEMPLOYMENT BENEFITS UNDER THE
RAILROAD UNEMPLOYMENT INSURANCE ACT.

(a) Extension.--Section 2(c)(2)(D)(iii) of the Railroad
Unemployment Insurance Act, as added by section 2006 of the
American Recovery and Reinvestment Act of 2009 (Public Law
111-5) and as amended by section 9 of the Worker,
Homeownership, and Business Assistance Act of 2009 (Public
Law 111-92), is amended--
(1) by striking ``June 30, 2010'' and inserting ``June 30,
2011''; and
(2) by striking ``December 31, 2010'' and inserting
``December 31, 2011''.

[[Page S8723]]

(b) Clarification on Authority to Use Funds.--Funds
appropriated under either the first or second sentence of
clause (iv) of section 2(c)(2)(D) of the Railroad
Unemployment Insurance Act shall be available to cover the
cost of additional extended unemployment benefits provided
under such section 2(c)(2)(D) by reason of the amendments
made by subsection (a) as well as to cover the cost of such
benefits provided under such section 2(c)(2)(D), as in effect
on the day before the date of the enactment of this Act.

TITLE VI--TEMPORARY EMPLOYEE PAYROLL TAX CUT

SEC. 601. TEMPORARY EMPLOYEE PAYROLL TAX CUT.

(a) In General.--Notwithstanding any other provision of
law, --
(1) with respect to any taxable year which begins in the
payroll tax holiday period, the rate of tax under section
1401(a) of the Internal Revenue Code of 1986 shall be 10.40
percent, and
(2) with respect to remuneration received during the
payroll tax holiday period, the rate of tax under 3101(a) of
such Code shall be 4.2 percent (including for purposes of
determining the applicable percentage under sections 3201(a)
and 3211(a)(1) of such Code).
(b) Coordination With Deductions for Employment Taxes.--
(1) Deduction in computing net earnings from self-
employment.--For purposes of applying section 1402(a)(12) of
the Internal Revenue Code of 1986, the rate of tax imposed by
subsection 1401(a) of such Code shall be determined without
regard to the reduction in such rate under this section.
(2) Individual deduction.--In the case of the taxes imposed
by section 1401 of such Code for any taxable year which
begins in the payroll tax holiday period, the deduction under
section 164(f) with respect to such taxes shall be equal to
the sum of--
(A) 59.6 percent of the portion of such taxes attributable
to the tax imposed by section 1401(a) (determined after the
application of this section), plus
(B) one-half of the portion of such taxes attributable to
the tax imposed by section 1401(b).
(c) Payroll Tax Holiday Period.--The term ``payroll tax
holiday period'' means calendar year 2011.
(d) Employer Notification.--The Secretary of the Treasury
shall notify employers of the payroll tax holiday period in
any manner the Secretary deems appropriate.
(e) Transfers of Funds.--
(1) Transfers to federal old-age and survivors insurance
trust fund.--There are hereby appropriated to the Federal
Old-Age and Survivors Trust Fund and the Federal Disability
Insurance Trust Fund established under section 201 of the
Social Security Act (42 U.S.C. 401) amounts equal to the
reduction in revenues to the Treasury by reason of the
application of subsection (a). Amounts appropriated by the
preceding sentence shall be transferred from the general fund
at such times and in such manner as to replicate to the
extent possible the transfers which would have occurred to
such Trust Fund had such amendments not been enacted.
(2) Transfers to social security equivalent benefit
account.--There are hereby appropriated to the Social
Security Equivalent Benefit Account established under section
15A(a) of the Railroad Retirement Act of 1974 (45 U.S.C.
231n-1(a)) amounts equal to the reduction in revenues to the
Treasury by reason of the application of subsection (a)(2).
Amounts appropriated by the preceding sentence shall be
transferred from the general fund at such times and in such
manner as to replicate to the extent possible the transfers
which would have occurred to such Account had such amendments
not been enacted.
(3) Coordination with other federal laws.--For purposes of
applying any provision of Federal law other than the
provisions of the Internal Revenue Code of 1986, the rate of
tax in effect under section 3101(a) of such Code shall be
determined without regard to the reduction in such rate under
this section.

TITLE VII--TEMPORARY EXTENSION OF CERTAIN EXPIRING PROVISIONS

Subtitle A--Energy

SEC. 701. INCENTIVES FOR BIODIESEL AND RENEWABLE DIESEL.

(a) Credits for Biodiesel and Renewable Diesel Used as
Fuel.--Subsection (g) of section 40A is amended by striking
``December 31, 2009'' and inserting ``December 31, 2011''.
(b) Excise Tax Credits and Outlay Payments for Biodiesel
and Renewable Diesel Fuel Mixtures.--
(1) Paragraph (6) of section 6426(c) is amended by striking
``December 31, 2009'' and inserting ``December 31, 2011''.
(2) Subparagraph (B) of section 6427(e)(6) is amended by
striking ``December 31, 2009'' and inserting ``December 31,
2011''.
(c) Special Rule for 2010.--Notwithstanding any other
provision of law, in the case of any biodiesel mixture credit
properly determined under section 6426(c) of the Internal
Revenue Code of 1986 for periods during 2010, such credit
shall be allowed, and any refund or payment attributable to
such credit (including any payment under section 6427(e) of
such Code) shall be made, only in such manner as the
Secretary of the Treasury (or the Secretary's delegate) shall
provide. Such Secretary shall issue guidance within 30 days
after the date of the enactment of this Act providing for a
one-time submission of claims covering periods during 2010.
Such guidance shall provide for a 180-day period for the
submission of such claims (in such manner as prescribed by
such Secretary) to begin not later than 30 days after such
guidance is issued. Such claims shall be paid by such
Secretary not later than 60 days after receipt. If such
Secretary has not paid pursuant to a claim filed under this
subsection within 60 days after the date of the filing of
such claim, the claim shall be paid with interest from such
date determined by using the overpayment rate and method
under section 6621 of such Code.
(d) Effective Date.--The amendments made by this section
shall apply to fuel sold or used after December 31, 2009.

SEC. 702. CREDIT FOR REFINED COAL FACILITIES.

(a) In General.--Subparagraph (B) of section 45(d)(8) is
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to facilities placed in service after December
31, 2009.

SEC. 703. NEW ENERGY EFFICIENT HOME CREDIT.

(a) In General.--Subsection (g) of section 45L is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to homes acquired after December 31, 2009.

SEC. 704. EXCISE TAX CREDITS AND OUTLAY PAYMENTS FOR
ALTERNATIVE FUEL AND ALTERNATIVE FUEL MIXTURES.

(a) In General.--Sections 6426(d)(5), 6426(e)(3), and
6427(e)(6)(C) are each amended by striking ``December 31,
2009'' and inserting ``December 31, 2011''.
(b) Exclusion of Black Liquor From Credit Eligibility.--The
last sentence of section 6426(d)(2) is amended by striking
``or biodiesel'' and inserting ``biodiesel, or any fuel
(including lignin, wood residues, or spent pulping liquors)
derived from the production of paper or pulp''.
(c) Special Rule for 2010.--Notwithstanding any other
provision of law, in the case of any alternative fuel credit
or any alternative fuel mixture credit properly determined
under subsection (d) or (e) of section 6426 of the Internal
Revenue Code of 1986 for periods during 2010, such credit
shall be allowed, and any refund or payment attributable to
such credit (including any payment under section 6427(e) of
such Code) shall be made, only in such manner as the
Secretary of the Treasury (or the Secretary's delegate) shall
provide. Such Secretary shall issue guidance within 30 days
after the date of the enactment of this Act providing for a
one-time submission of claims covering periods during 2010.
Such guidance shall provide for a 180-day period for the
submission of such claims (in such manner as prescribed by
such Secretary) to begin not later than 30 days after such
guidance is issued. Such claims shall be paid by such
Secretary not later than 60 days after receipt. If such
Secretary has not paid pursuant to a claim filed under this
subsection within 60 days after the date of the filing of
such claim, the claim shall be paid with interest from such
date determined by using the overpayment rate and method
under section 6621 of such Code.
(d) Effective Date.--The amendments made by this section
shall apply to fuel sold or used after December 31, 2009.

SEC. 705. SPECIAL RULE FOR SALES OR DISPOSITIONS TO IMPLEMENT
FERC OR STATE ELECTRIC RESTRUCTURING POLICY FOR
QUALIFIED ELECTRIC UTILITIES.

(a) In General.--Paragraph (3) of section 451(i) is amended
by striking ``January 1, 2010'' and inserting ``January 1,
2012''.
(b) Effective Date.--The amendment made by this section
shall apply to dispositions after December 31, 2009.

SEC. 706. SUSPENSION OF LIMITATION ON PERCENTAGE DEPLETION
FOR OIL AND GAS FROM MARGINAL WELLS.

(a) In General.--Clause (ii) of section 613A(c)(6)(H) is
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 707. EXTENSION OF GRANTS FOR SPECIFIED ENERGY PROPERTY
IN LIEU OF TAX CREDITS.

(a) In General.--Subsection (a) of section 1603 of division
B of the American Recovery and Reinvestment Act of 2009 is
amended--
(1) in paragraph (1), by striking ``2009 or 2010'' and
inserting ``2009, 2010, or 2011'', and
(2) in paragraph (2)--
(A) by striking ``after 2010'' and inserting ``after
2011'', and
(B) by striking ``2009 or 2010'' and inserting ``2009,
2010, or 2011''.
(b) Conforming Amendment.--Subsection (j) of section 1603
of division B of such Act is amended by striking ``2011'' and
inserting ``2012''.

SEC. 708. EXTENSION OF PROVISIONS RELATED TO ALCOHOL USED AS
FUEL.

(a) Extension of Income Tax Credit for Alcohol Used as
Fuel.--
(1) In general.--Paragraph (1) of section 40(e) is
amended--
(A) by striking ``December 31, 2010'' in subparagraph (A)
and inserting ``December 31, 2011'', and
(B) by striking ``January 1, 2011'' in subparagraph (B) and
inserting ``January 1, 2012''.
(2) Reduced amount for ethanol blenders.--Subsection (h) of
section 40 is amended by striking ``2010'' both places it
appears and inserting ``2011''.
(3) Effective date.--The amendments made by this subsection
shall apply to periods after December 31, 2010.

[[Page S8724]]

(b) Extension of Excise Tax Credit for Alcohol Used as
Fuel.--
(1) In general.--Paragraph (6) of section 6426(b) is
amended by striking ``December 31, 2010'' and inserting
``December 31, 2011''.
(2) Effective date.--The amendment made by this subsection
shall apply to periods after December 31, 2010.
(c) Extension of Payment for Alcohol Fuel Mixture.--
(1) In general.--Subparagraph (A) of section 6427(e)(6) is
amended by striking ``December 31, 2010'' and inserting
``December 31, 2011''.
(2) Effective date.--The amendment made by this subsection
shall apply to sales and uses after December 31, 2010.
(d) Extension of Additional Duties on Ethanol.--
(1) In general.--Headings 9901.00.50 and 9901.00.52 of the
Harmonized Tariff Schedule of the United States are each
amended in the effective period column by striking ``1/1/
2011'' and inserting ``1/1/2012''.
(2) Effective date.--The amendments made by this subsection
shall take effect on January 1, 2011.

SEC. 709. ENERGY EFFICIENT APPLIANCE CREDIT.

(a) Dishwashers.--Paragraph (1) of section 45M(b) is
amended by striking ``and'' at the end of subparagraph (A),
by striking the period at the end of subparagraph (B) and
inserting a comma, and by adding at the end the following new
subparagraphs:
``(C) $25 in the case of a dishwasher which is manufactured
in calendar year 2011 and which uses no more than 307
kilowatt hours per year and 5.0 gallons per cycle (5.5
gallons per cycle for dishwashers designed for greater than
12 place settings),
``(D) $50 in the case of a dishwasher which is manufactured
in calendar year 2011 and which uses no more than 295
kilowatt hours per year and 4.25 gallons per cycle (4.75
gallons per cycle for dishwashers designed for greater than
12 place settings), and
``(E) $75 in the case of a dishwasher which is manufactured
in calendar year 2011 and which uses no more than 280
kilowatt hours per year and 4 gallons per cycle (4.5 gallons
per cycle for dishwashers designed for greater than 12 place
settings).''.
(b) Clothes Washers.--Paragraph (2) of section 45M(b) is
amended by striking ``and'' at the end of subparagraph (C),
by striking the period at the end of subparagraph (D) and
inserting a comma, and by adding at the end the following new
subparagraphs:
``(E) $175 in the case of a top-loading clothes washer
manufactured in calendar year 2011 which meets or exceeds a
2.2 modified energy factor and does not exceed a 4.5 water
consumption factor, and
``(F) $225 in the case of a clothes washer manufactured in
calendar year 2011--
``(i) which is a top-loading clothes washer and which meets
or exceeds a 2.4 modified energy factor and does not exceed a
4.2 water consumption factor, or
``(ii) which is a front-loading clothes washer and which
meets or exceeds a 2.8 modified energy factor and does not
exceed a 3.5 water consumption factor.''.
(c) Refrigerators.--Paragraph (3) of section 45M(b) is
amended by striking ``and'' at the end of subparagraph (C),
by striking the period at the end of subparagraph (D) and
inserting a comma, and by adding at the end the following new
subparagraphs:
``(E) $150 in the case of a refrigerator manufactured in
calendar year 2011 which consumes at least 30 percent less
energy than the 2001 energy conservation standards, and
``(F) $200 in the case of a refrigerator manufactured in
calendar year 2011 which consumes at least 35 percent less
energy than the 2001 energy conservation standards.''.
(d) Rebasing of Limitations.--
(1) In general.--Paragraph (1) of section 45M(e) is
amended--
(A) by striking ``$75,000,000'' and inserting
``$25,000,000'', and
(B) by striking ``December 31, 2007'' and inserting
``December 31, 2010''.
(2) Exception for certain refrigerators and clothes
washers.--Paragraph (2) of section 45M(e) is amended--
(A) by striking ``subsection (b)(3)(D)'' and inserting
``subsection (b)(3)(F)'', and
(B) by striking ``subsection (b)(2)(D)'' and inserting
``subsection (b)(2)(F)''.
(3) Gross receipts limitation.--Paragraph (3) of section
45M(e) is amended by striking ``2 percent'' and inserting ``4
percent''.
(e) Effective Dates.--
(1) In general.--The amendments made by subsections (a),
(b), and (c) shall apply to appliances produced after
December 31, 2010.
(2) Limitations.--The amendments made by subsection (d)
shall apply to taxable years beginning after December 31,
2010.

SEC. 710. CREDIT FOR NONBUSINESS ENERGY PROPERTY.

(a) Extension.--Section 25C(g)(2) is amended by striking
``2010'' and inserting ``2011''.
(b) Return to Pre-ARRA Limitations and Standards.--
(1) In general.--Subsections (a) and (b) of section 25C are
amended to read as follows:
``(a) Allowance of Credit.--In the case of an individual,
there shall be allowed as a credit against the tax imposed by
this chapter for the taxable year an amount equal to the sum
of--
``(1) 10 percent of the amount paid or incurred by the
taxpayer for qualified energy efficiency improvements
installed during such taxable year, and
``(2) the amount of the residential energy property
expenditures paid or incurred by the taxpayer during such
taxable year.
``(b) Limitations.--
``(1) Lifetime limitation.--The credit allowed under this
section with respect to any taxpayer for any taxable year
shall not exceed the excess (if any) of $500 over the
aggregate credits allowed under this section with respect to
such taxpayer for all prior taxable years ending after
December 31, 2005.
``(2) Windows.--In the case of amounts paid or incurred for
components described in subsection (c)(2)(B) by any taxpayer
for any taxable year, the credit allowed under this section
with respect to such amounts for such year shall not exceed
the excess (if any) of $200 over the aggregate credits
allowed under this section with respect to such amounts for
all prior taxable years ending after December 31, 2005.
``(3) Limitation on residential energy property
expenditures.--The amount of the credit allowed under this
section by reason of subsection (a)(2) shall not exceed--
``(A) $50 for any advanced main air circulating fan,
``(B) $150 for any qualified natural gas, propane, or oil
furnace or hot water boiler, and
``(C) $300 for any item of energy-efficient building
property.''.
(2) Modification of standards.--
(A) In general.--Paragraph (1) of section 25C(c) is amended
by striking ``2000'' and all that follows through ``this
section'' and inserting ``2009 International Energy
Conservation Code, as such Code (including supplements) is in
effect on the date of the enactment of the American Recovery
and Reinvestment Tax Act of 2009''.
(B) Wood stoves.--Subparagraph (E) of section 25C(d)(3) is
amended by striking ``, as measured using a lower heating
value''.
(C)  Oil furnaces and hot water boilers.--
(i) In general.--Paragraph (4) of section 25C(d) is amended
to read as follows:
``(4) Qualified natural gas, propane, or oil furnace or hot
water boiler.--The term `qualified natural gas, propane, or
oil furnace or hot water boiler' means a natural gas,
propane, or oil furnace or hot water boiler which achieves an
annual fuel utilization efficiency rate of not less than
95.''.
(ii) Conforming amendment.--Clause (ii) of section
25C(d)(2)(A) is amended to read as follows:
``(ii) a qualified natural gas, propane, or oil furnace or
hot water boiler, or''.
(D) Exterior windows, doors, and skylights.--
(i) In general.--Subsection (c) of section 25C is amended
by striking paragraph (4).
(ii) Application of energy star standards.--Paragraph (1)
of section 25C(c) is amended by inserting ``an exterior
window, a skylight, an exterior door,'' after ``in the case
of'' in the matter preceding subparagraph (A).
(E) Insulation.--Subparagraph (A) of section 25C(c)(2) is
amended by striking ``and meets the prescriptive criteria for
such material or system established by the 2009 International
Energy Conservation Code, as such Code (including
supplements) is in effect on the date of the enactment of the
American Recovery and Reinvestment Tax Act of 2009''.
(3) Subsidized energy financing.--Subsection (e) of section
25C is amended by adding at the end the following new
paragraph:
``(3) Property financed by subsidized energy financing.--
For purposes of determining the amount of expenditures made
by any individual with respect to any property, there shall
not be taken into account expenditures which are made from
subsidized energy financing (as defined in section
48(a)(4)(C)).''.
(c) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2010.

SEC. 711. ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY.

(a) Extension of Credit.--Paragraph (2) of section 30C(g)
is amended by striking ``December 31, 2010'' and inserting
``December 31, 2011.''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2010.

Subtitle B--Individual Tax Relief

SEC. 721. DEDUCTION FOR CERTAIN EXPENSES OF ELEMENTARY AND
SECONDARY SCHOOL TEACHERS.

(a) In General.--Subparagraph (D) of section 62(a)(2) is
amended by striking ``or 2009'' and inserting ``2009, 2010,
or 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 722. DEDUCTION OF STATE AND LOCAL SALES TAXES.

(a) In General.--Subparagraph (I) of section 164(b)(5) is
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 723. CONTRIBUTIONS OF CAPITAL GAIN REAL PROPERTY MADE
FOR CONSERVATION PURPOSES.

(a) In General.--Clause (vi) of section 170(b)(1)(E) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Contributions by Certain Corporate Farmers and
Ranchers.--Clause (iii) of section 170(b)(2)(B) is amended by
striking ``December 31, 2009'' and inserting ``December 31,
2011''.
(c) Effective Date.--The amendments made by this section
shall apply to contributions made in taxable years beginning
after December 31, 2009.

[[Page S8725]]

SEC. 724. ABOVE-THE-LINE DEDUCTION FOR QUALIFIED TUITION AND
RELATED EXPENSES.

(a) In General.--Subsection (e) of section 222 is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 725. TAX-FREE DISTRIBUTIONS FROM INDIVIDUAL RETIREMENT
PLANS FOR CHARITABLE PURPOSES.

(a) In General.--Subparagraph (F) of section 408(d)(8) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date; Special Rule.--
(1) Effective date.--The amendment made by this section
shall apply to distributions made in taxable years beginning
after December 31, 2009.
(2) Special rule.--For purposes of subsections (a)(6),
(b)(3), and (d)(8) of section 408 of the Internal Revenue
Code of 1986, at the election of the taxpayer (at such time
and in such manner as prescribed by the Secretary of the
Treasury) any qualified charitable distribution made after
December 31, 2010, and before February 1, 2011, shall be
deemed to have been made on December 31, 2010.

SEC. 726. LOOK-THRU OF CERTAIN REGULATED INVESTMENT COMPANY
STOCK IN DETERMINING GROSS ESTATE OF
NONRESIDENTS.

(a) In General.--Paragraph (3) of section 2105(d) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to estates of decedents dying after December 31,
2009.

SEC. 727. PARITY FOR EXCLUSION FROM INCOME FOR EMPLOYER-
PROVIDED MASS TRANSIT AND PARKING BENEFITS.

(a) In General.--Paragraph (2) of section 132(f) is amended
by striking ``January 1, 2011'' and inserting ``January 1,
2012''.
(b) Effective Date.--The amendment made by this section
shall apply to months after December 31, 2010.

SEC. 728. REFUNDS DISREGARDED IN THE ADMINISTRATION OF
FEDERAL PROGRAMS AND FEDERALLY ASSISTED
PROGRAMS.

(a) In General.--Subchapter A of chapter 65 is amended by
adding at the end the following new section:

``SEC. 6409. REFUNDS DISREGARDED IN THE ADMINISTRATION OF
FEDERAL PROGRAMS AND FEDERALLY ASSISTED
PROGRAMS.

``(a) In General.--Notwithstanding any other provision of
law, any refund (or advance payment with respect to a
refundable credit) made to any individual under this title
shall not be taken into account as income, and shall not be
taken into account as resources for a period of 12 months
from receipt, for purposes of determining the eligibility of
such individual (or any other individual) for benefits or
assistance (or the amount or extent of benefits or
assistance) under any Federal program or under any State or
local program financed in whole or in part with Federal
funds.
``(b) Termination.--Subsection (a) shall not apply to any
amount received after December 31, 2012.''.
(b) Clerical Amendment.--The table of sections for such
subchapter is amended by adding at the end the following new
item:

``Sec. 6409. Refunds disregarded in the administration of Federal
programs and federally assisted programs.''.

(c) Effective Date.--The amendments made by this section
shall apply to amounts received after December 31, 2009.

Subtitle C--Business Tax Relief

SEC. 731. RESEARCH CREDIT.

(a) In General.--Subparagraph (B) of section 41(h)(1) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Conforming Amendment.--Subparagraph (D) of section
45C(b)(1) is amended by striking ``December 31, 2009'' and
inserting ``December 31, 2011''.
(c) Effective Date.--The amendments made by this section
shall apply to amounts paid or incurred after December 31,
2009.

SEC. 732. INDIAN EMPLOYMENT TAX CREDIT.

(a) In General.--Subsection (f) of section 45A is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 733. NEW MARKETS TAX CREDIT.

(a) In General.--Paragraph (1) of section 45D(f) is
amended--
(1) by striking ``and'' at the end of subparagraph (E),
(2) by striking the period at the end of subparagraph (F),
and
(3) by adding at the end the following new subparagraph:
``(G) $3,500,000,000 for 2010 and 2011.''.
(b) Conforming Amendment.--Paragraph (3) of section 45D(f)
is amended by striking ``2014'' and inserting ``2016''.
(c) Effective Date.--The amendments made by this section
shall apply to calendar years beginning after 2009.

SEC. 734. RAILROAD TRACK MAINTENANCE CREDIT.

(a) In General.--Subsection (f) of section 45G is amended
by striking ``January 1, 2010'' and inserting ``January 1,
2012''.
(b) Effective Date.--The amendment made by this section
shall apply to expenditures paid or incurred in taxable years
beginning after December 31, 2009.

SEC. 735. MINE RESCUE TEAM TRAINING CREDIT.

(a) In General.--Subsection (e) of section 45N is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 736. EMPLOYER WAGE CREDIT FOR EMPLOYEES WHO ARE ACTIVE
DUTY MEMBERS OF THE UNIFORMED SERVICES.

(a) In General.--Subsection (f) of section 45P is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to payments made after December 31, 2009.

SEC. 737. 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, 2010''
and inserting ``January 1, 2012''.
(b) Conforming Amendments.--
(1) Clause (i) of section 168(e)(7)(A) is amended by
striking ``if such building is placed in service after
December 31, 2008, and before January 1, 2010,''.
(2) Paragraph (8) of section 168(e) is amended by striking
subparagraph (E).
(3) Section 179(f)(2) is amended--
(A) by striking ``(without regard to the dates specified in
subparagraph (A)(i) thereof)'' in subparagraph (B), and
(B) by striking ``(without regard to subparagraph (E)
thereof)'' in subparagraph (C).
(c) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2009.

SEC. 738. 7-YEAR RECOVERY PERIOD FOR MOTORSPORTS
ENTERTAINMENT COMPLEXES.

(a) In General.--Subparagraph (D) of section 168(i)(15) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2009.

SEC. 739. ACCELERATED DEPRECIATION FOR BUSINESS PROPERTY ON
AN INDIAN RESERVATION.

(a) In General.--Paragraph (8) of section 168(j) is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2009.

SEC. 740. 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, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made after December 31, 2009.

SEC. 741. ENHANCED CHARITABLE DEDUCTION FOR CONTRIBUTIONS OF
BOOK INVENTORIES TO PUBLIC SCHOOLS.

(a) In General.--Clause (iv) of section 170(e)(3)(D) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made after December 31, 2009.

SEC. 742. ENHANCED CHARITABLE DEDUCTION FOR CORPORATE
CONTRIBUTIONS OF COMPUTER INVENTORY FOR
EDUCATIONAL PURPOSES.

(a) In General.--Subparagraph (G) of section 170(e)(6) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made in taxable years beginning
after December 31, 2009.

SEC. 743. ELECTION TO EXPENSE MINE SAFETY EQUIPMENT.

(a) In General.--Subsection (g) of section 179E is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2009.

SEC. 744. SPECIAL EXPENSING RULES FOR CERTAIN FILM AND
TELEVISION PRODUCTIONS.

(a) In General.--Subsection (f) of section 181 is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to productions commencing after December 31,
2009.

SEC. 745. EXPENSING OF ENVIRONMENTAL REMEDIATION COSTS.

(a) In General.--Subsection (h) of section 198 is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to expenditures paid or incurred after December
31, 2009.

SEC. 746. 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 4 taxable years'' and inserting
``first 6 taxable years''; and
(2) by striking ``January 1, 2010'' and inserting ``January
1, 2012''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.

[[Page S8726]]

SEC. 747. MODIFICATION OF TAX TREATMENT OF CERTAIN PAYMENTS
TO CONTROLLING EXEMPT ORGANIZATIONS.

(a) In General.--Clause (iv) of section 512(b)(13)(E) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to payments received or accrued after December
31, 2009.

SEC. 748. TREATMENT OF CERTAIN DIVIDENDS OF REGULATED
INVESTMENT COMPANIES.

(a) In General.--Paragraphs (1)(C) and (2)(C) of section
871(k) are each amended by striking ``December 31, 2009'' and
inserting ``December 31, 2011''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 749. RIC QUALIFIED INVESTMENT ENTITY TREATMENT UNDER
FIRPTA.

(a) In General.--Clause (ii) of section 897(h)(4)(A) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--
(1) In general.--The amendment made by subsection (a) shall
take effect on January 1, 2010. Notwithstanding the preceding
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 enactment.--In
the case of a regulated investment company--
(A) which makes a distribution after December 31, 2009, and
before the date of the enactment of this Act; and
(B) which would (but for the second sentence of paragraph
(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 withheld
and paid over to the Secretary of the Treasury.

SEC. 750. EXCEPTIONS FOR ACTIVE FINANCING INCOME.

(a) In General.--Sections 953(e)(10) and 954(h)(9) are each
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Conforming Amendment.--Section 953(e)(10) is amended by
striking ``December 31, 2009'' and inserting ``December 31,
2011''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years of foreign corporations
beginning after December 31, 2009, and to taxable years of
United States shareholders with or within which any such
taxable year of such foreign corporation ends.

SEC. 751. LOOK-THRU TREATMENT OF PAYMENTS BETWEEN RELATED
CONTROLLED FOREIGN CORPORATIONS UNDER FOREIGN
PERSONAL HOLDING COMPANY RULES.

(a) In General.--Subparagraph (C) of section 954(c)(6) is
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years of foreign corporations
beginning after December 31, 2009, and to taxable years of
United States shareholders with or within which any such
taxable year of such foreign corporation ends.

SEC. 752. BASIS ADJUSTMENT TO STOCK OF S CORPS MAKING
CHARITABLE CONTRIBUTIONS OF PROPERTY.

(a) In General.--Paragraph (2) of section 1367(a) is
amended by striking ``December 31, 2009'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made in taxable years beginning
after December 31, 2009.

SEC. 753. EMPOWERMENT ZONE TAX INCENTIVES.

(a) In General.--Section 1391 is amended--
(1) by striking ``December 31, 2009'' in subsection
(d)(1)(A)(i) and inserting ``December 31, 2011''; and
(2) by striking the last sentence of subsection (h)(2).
(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, 2014'' and inserting
``December 31, 2016''; and
(2) by striking ``2014'' in the heading and inserting
``2016''.
(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, 2009.

SEC. 754. TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF
COLUMBIA.

(a) In General.--Subsection (f) of section 1400 is amended
by striking ``December 31, 2009'' each place it appears and
inserting ``December 31, 2011''.
(b) Tax-exempt DC Empowerment Zone Bonds.--Subsection (b)
of section 1400A is amended by striking ``December 31, 2009''
and inserting ``December 31, 2011''.
(c) Zero-percent Capital Gains Rate.--
(1) Acquisition date.--Paragraphs (2)(A)(i), (3)(A),
(4)(A)(i), and (4)(B)(i)(I) of section 1400B(b) are each
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(2) Limitation on period of gains.--
(A) In general.--Paragraph (2) of section 1400B(e) is
amended--
(i) by striking ``December 31, 2014'' and inserting
``December 31, 2016''; and
(ii) by striking ``2014'' in the heading and inserting
``2016''.
(B) Partnerships and s-corps.--Paragraph (2) of section
1400B(g) is amended by striking ``December 31, 2014'' and
inserting ``December 31, 2016''.
(d) First-time Homebuyer Credit.--Subsection (i) of section
1400C is amended by striking ``January 1, 2010'' and
inserting ``January 1, 2012''.
(e) Effective Dates.--
(1) In general.--Except as otherwise provided in this
subsection, the amendments made by this section shall apply
to periods after December 31, 2009.
(2) Tax-exempt dc empowerment zone bonds.--The amendment
made by subsection (b) shall apply to bonds issued after
December 31, 2009.
(3) Acquisition dates for zero-percent capital gains
rate.--The amendments made by subsection (c) shall apply to
property acquired or substantially improved after December
31, 2009.
(4) Homebuyer credit.--The amendment made by subsection (d)
shall apply to homes purchased after December 31, 2009.

SEC. 755. TEMPORARY INCREASE IN LIMIT ON COVER OVER OF RUM
EXCISE TAXES TO PUERTO RICO AND THE VIRGIN
ISLANDS.

(a) In General.--Paragraph (1) of section 7652(f) is
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to distilled spirits brought into the United
States after December 31, 2009.

SEC. 756. AMERICAN SAMOA ECONOMIC DEVELOPMENT CREDIT.

(a) In General.--Subsection (d) of section 119 of division
A of the Tax Relief and Health Care Act of 2006 is amended--
(1) by striking ``first 4 taxable years'' and inserting
``first 6 taxable years'', and
(2) by striking ``January 1, 2010'' and inserting ``January
1, 2012''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.

SEC. 757. WORK OPPORTUNITY CREDIT.

(a) In General.--Subparagraph (B) of section 51(c)(4) is
amended by striking ``August 31, 2011'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to individuals who begin work for the employer
after the date of the enactment of this Act.

SEC. 758. QUALIFIED ZONE ACADEMY BONDS.

(a) In General.--Section 54E(c)(1) is amended--
(1) by striking ``2008 and'' and inserting ``2008,'', and
(2) by inserting ``and $400,000,000 for 2011'' after
``2010,''.
(b) Repeal of Refundable Credit for QZABs.--Paragraph (3)
of section 6431(f) is amended by inserting ``determined
without regard to any allocation relating to the national
zone academy bond limitation for 2011 or any carryforward of
such allocation'' after ``54E)'' in subparagraph (A)(iii).
(c) Effective Date.--The amendments made by this section
shall apply to obligations issued after December 31, 2010.

SEC. 759. MORTGAGE INSURANCE PREMIUMS.

(a) In General.--Clause (iv) of section 163(h)(3)(E) is
amended by striking ``December 31, 2010'' and inserting
``December 31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to amounts paid or accrued after December 31,
2010.

SEC. 760. 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, 2011'' and inserting ``January
1, 2012'', and
(2) by inserting ``and 2011'' after ``2010'' in the heading
thereof.
(b) Effective Date.--The amendments made by this section
shall apply to stock acquired after December 31, 2010.

Subtitle D--Temporary Disaster Relief Provisions

PART

Subpart A--New York Liberty Zone

SEC. 761. TAX-EXEMPT BOND FINANCING.

(a) In General.--Subparagraph (D) of section 1400L(d)(2) is
amended by striking ``January 1, 2010'' and inserting
``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to bonds issued after December 31, 2009.

Subpart B--GO Zone

SEC. 762. INCREASE IN REHABILITATION CREDIT.

(a) In General.--Subsection (h) of section 1400N is amended
by striking ``December 31, 2009'' and inserting ``December
31, 2011''.
(b) Effective Date.--The amendment made by this section
shall apply to amounts paid or incurred after December 31,
2009.

SEC. 763. LOW-INCOME HOUSING CREDIT RULES FOR BUILDINGS IN GO
ZONES.

Section 1400N(c)(5) is amended by striking ``January 1,
2011'' and inserting ``January 1, 2012''.

[[Page S8727]]

SEC. 764. TAX-EXEMPT BOND FINANCING.

(a) In General.--Paragraphs (2)(D) and (7)(C) of section
1400N(a) are each amended by striking ``January 1, 2011'' and
inserting ``January 1, 2012''.
(b) Conforming Amendments.--Sections 702(d)(1) and 704(a)
of the Heartland Disaster Tax Relief Act of 2008 are each
amended by striking ``January 1, 2011'' each place it appears
and inserting ``January 1, 2012''.

SEC. 765. BONUS DEPRECIATION DEDUCTION APPLICABLE TO THE GO
ZONE.

(a) In General.--Paragraph (6) of section 1400N(d) is
amended--
(1) by striking ``December 31, 2010'' both places it
appears in subparagraph (B) and inserting ``December 31,
2011'', and
(2) by striking ``January 1, 2010'' in the heading and the
text of subparagraph (D) and inserting ``January 1, 2012''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2009.

TITLE VIII--BUDGETARY PROVISIONS

SEC. 801. DETERMINATION OF BUDGETARY EFFECTS.

The budgetary effects of this Act, for the purpose of
complying with the Statutory Pay-As-You-Go Act of 2010, shall
be determined by reference to the latest statement titled
``Budgetary Effects of PAYGO Legislation'' for this Act,
jointly submitted for printing in the Congressional Record by
the Chairmen of the House and Senate Budget Committees,
provided that such statement has been submitted prior to the
vote on passage in the House acting first on this conference
report or amendment between the Houses.

SEC. 802. EMERGENCY DESIGNATIONS.

(a) Statutory Paygo.--This Act is designated as an
emergency requirement pursuant to section 4(g) of the
Statutory Pay-As-You-Go Act of 2010 (Public Law 111-139; 2
U.S.C. 933(g)) except to the extent that the budgetary
effects of this Act are determined to be subject to the
current policy adjustments under sections 4(c) and 7 of the
Statutory Pay-As-You-Go Act.
(b) Senate.--In the Senate, this Act is designated as an
emergency requirement pursuant to section 403(a) of S. Con.
Res. 13 (111th Congress), the concurrent resolution on the
budget for fiscal year 2010.
(c) House of Representatives.--In the House of
Representatives, every provision of this Act is expressly
designated as an emergency for purposes of pay-as-you-go
principles except to the extent that any such provision is
subject to the current policy adjustments under section 4(c)
of the Statutory Pay-As-You-Go Act of 2010.
______