S.Amdt. 4804

SA 4804. Mr. DeMINT submitted an amendment intended to be proposed to
amendment SA 4753 proposed by Mr. Reid (for himself and Mr. McConnell)
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
Trust Fund, to amend title 49, United States Code, to extend
authorizations for the airport improvement program, and for other
purposes; which was ordered to lie on the table; as follows:

Strike all after the first word and insert the following:

1. SHORT TITLE.

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

TITLE I--PERMANENT TAX RELIEF

SEC. 101. REPEAL OF EGTRRA SUNSET.

(a) In General.--Section 901 of the Economic Growth and Tax
Relief Reconciliation Act of 2001 is repealed.
(b) Sunset Maintained for Expansion of Adoption Benefits
Under the Patient Protection and Affordable Care Act.--
Subsection (c) of section 10909 of the Patient Protection and
Affordable Care Act is amended to read as follows:
``(c) Sunset Provision.--All provisions of, and amendments
made by, this section shall not apply to taxable years
beginning after December 31, 2011, and the Internal Revenue
Code of 1986 shall be applied and administered to such years
as if such provisions and amendments had never been
enacted.''.

SEC. 102. REPEAL OF JGTRRA SUNSET.

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Reconciliation Act of 2003 is repealed.

SEC. 103. TECHNICAL AND CONFORMING AMENDMENTS.

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

TITLE II--PERMANENT INDIVIDUAL AMT RELIEF

SEC. 201. PERMANENT INDIVIDUAL AMT RELIEF.

(a) Modification of Alternative Minimum Tax Exemption
Amount.--
(1) In general.--Paragraph (1) of section 55(d) of the
Internal Revenue Code of 1986 (relating to exemption amount)
is amended to read as follows:
``(1) Exemption amount for taxpayers other than
corporations.--In the case of a taxpayer other than a
corporation, the term `exemption amount' means--
``(A) the dollar amount for taxable years beginning in the
calendar year as specified in the table contained in
paragraph (4)(A) in the case of--
``(i) a joint return, or
``(ii) a surviving spouse,
``(B) the dollar amount for taxable years beginning in the
calendar year as specified in the table contained in
paragraph (4)(B) in the case of an individual who--
``(i) is not a married individual, and
``(ii) is not a surviving spouse,
``(C) 50 percent of the dollar amount applicable under
paragraph (1)(A) in the case of a married individual who
files a separate return, and
``(D) $22,500 in the case of an estate or trust.

For purposes of this paragraph, the term `surviving spouse'
has the meaning given to such term by section 2(a), and
marital status shall be determined under section 7703.''.
(2) Specified exemption amounts.--Section 55(d) of such
Code is amended by adding at the end the following new
paragraph:
``(4) Specified exemption amounts.--
``(A) Taxpayers described in paragraph (1)(A).--For
purposes of paragraph (1))(A)--

------------------------------------------------------------------------
The exemption
``For taxable years beginning in--               amount is:
------------------------------------------------------------------------
2010.................................................            $72,450
2011.................................................            $74,450
2012.................................................            $78,250
2013.................................................            $81,450
2014.................................................            $85,050
2015.................................................            $88,650
2016.................................................            $92,650
2017.................................................            $96,550
2018.................................................           $100,950
2019.................................................           $105,150
2020.................................................          $109,950.
------------------------------------------------------------------------

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

------------------------------------------------------------------------
The exemption
``For taxable years beginning in--               amount is:
------------------------------------------------------------------------
2010.................................................            $47,450
2011.................................................            $48,450
2012.................................................            $50,350
2013.................................................            $51,950
2014.................................................            $53,750
2015.................................................            $55,550
2016.................................................            $57,550
2017.................................................            $59,500
2018.................................................            $61,700
2019.................................................            $63,800
2020.................................................        $66,200.''.
------------------------------------------------------------------------

(b) Alternative Minimum Tax Relief for Nonrefundable
Credits.--
(1) In general.--Subsection (a) of section 26 of the
Internal Revenue Code of 1986 is amended to read as follows:
``(a) Limitation Based on Amount of Tax.--The aggregate
amount of credits allowed by this subpart for the taxable
year shall not exceed the sum of--
``(1) the taxpayer's regular tax liability for the taxable
year reduced by the foreign tax credit allowable under
section 27(a), and
``(2) the tax imposed by section 55(a) for the taxable
year.''.
(2) Conforming amendments.--
(A) Adoption credit.--

[[Page S9025]]

(i) Section 23(b) of such Code, as in effect on December
31, 2009, is amended by striking paragraph (4).
(ii) Section 23(c) of such Code, as in effect on December
31, 2009, is amended by striking paragraphs (1) and (2) and
inserting the following:
``(1) In general.--If the credit allowable under subsection
(a) for any taxable year exceeds the limitation imposed by
section 26(a) for such taxable year reduced by the sum of the
credits allowable under this subpart (other than this section
and sections 25D and 1400C), such excess shall be carried to
the succeeding taxable year and added to the credit allowable
under subsection (a) for such taxable year.''.
(iii) Section 23(c) of such Code, as in effect on December
31, 2009 amended by redesignating paragraph (3) as paragraph
(2).
(B) Child tax credit.--
(i) Section 24(b) of such Code is amended by striking
paragraph (3).
(ii) Section 24(d)(1) of such Code is amended--

(I) by striking ``section 26(a)(2) or subsection (b)(3), as
the case may be,'' each place it appears in subparagraphs (A)
and (B) and inserting ``section 26(a)'', and
(II) by striking ``section 26(a)(2) or subsection (b)(3),
as the case may be'' in the second last sentence and
inserting ``section 26(a)''.

(C) Credit for interest on certain home mortgages.--Section
25(e)(1)(C) of such Code is amended to read as follows:
``(C) Applicable tax limit.--For purposes of this
paragraph, the term `applicable tax limit' means the
limitation imposed by section 26(a) for the taxable year
reduced by the sum of the credits allowable under this
subpart (other than this section and sections 23, 25D, and
1400C).''.
(D) Savers' credit.--Section 25B of such Code is amended by
striking subsection (g).
(E) Residential energy efficient property.--Section 25D(c)
of such Code is amended to read as follows:
``(c) Carryforward of Unused Credit.--If the credit
allowable under subsection (a) exceeds the limitation imposed
by section 26(a) for such taxable year reduced by the sum of
the credits allowable under this subpart (other than this
section), such excess shall be carried to the succeeding
taxable year and added to the credit allowable under
subsection (a) for such succeeding taxable year.''.
(F) Certain plug-in electric vehicles.--Section 30(c)(2) of
such Code is amended to read as follows:
``(2) Personal credit.--For purposes of this title, the
credit allowed under subsection (a) for any taxable year
(determined after application of paragraph (1)) shall be
treated as a credit allowable under subpart A for such
taxable year.''.
(G) Alternative motor vehicle credit.--Section 30B(g)(2) of
such Code is amended to read as follows:
``(2) Personal credit.--For purposes of this title, the
credit allowed under subsection (a) for any taxable year
(determined after application of paragraph (1)) shall be
treated as a credit allowable under subpart A for such
taxable year.''.
(H) New qualified plug-in electric vehicle credit.--Section
30D(c)(2) of such Code is amended to read as follows:
``(2) Personal credit.--For purposes of this title, the
credit allowed under subsection (a) for any taxable year
(determined after application of paragraph (1)) shall be
treated as a credit allowable under subpart A for such
taxable year.''.
(I) Cross references.--Section 55(c)(3) of such Code is
amended by striking ``26(a), 30C(d)(2),'' and inserting
``30C(d)(2)''.
(J) Foreign tax credit.--Section 904 of such Code is
amended by striking subsection (i) and by redesignating
subsections (j), (k), and (l) as subsections (i), (j), and
(k), respectively.
(K) First-time home buyer credit for the district of
columbia.--Section 1400C(d) of such Code is amended to read
as follows:
``(d) Carryforward of Unused Credit.--If the credit
allowable under subsection (a) exceeds the limitation imposed
by section 26(a) for such taxable year reduced by the sum of
the credits allowable under subpart A of part IV of
subchapter A (other than this section and section 25D), such
excess shall be carried to the succeeding taxable year and
added to the credit allowable under subsection (a) for such
taxable year.''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2009.
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