S.Amdt. 3612

1. Adds TITLE II--CERTAIN PROVISIONS MADE PERMANENT wherever appropriate

   Adds a title

   Inserted: TITLE II--CERTAIN PROVISIONS MADE PERMANENT

   Inserted: SEC. 201. PERMANENT EXTENSION AND MODIFICATION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

   Inserted: (a) In General.--

   Inserted: (1) Dollar limitation.--Paragraph (1) of section 179(b) of the Internal Revenue Code of 1986 is amended by striking "shall not exceed--" and all that follows and inserting "shall not exceed $500,000.".

   Inserted: (2) Reduction in limitation.--Paragraph (2) of section 179(b) of such Code is amended by striking "exceeds--" and all that follows and inserting "exceeds $2,000,000.".

   Inserted: (b) Computer Software.--Clause (ii) of section 179(d)(1)(A) of the Internal Revenue Code of 1986 is amended by striking ", to which section 167 applies, and which is placed in service in a taxable year beginning after 2002 and before 2014" and inserting "and to which section 167 applies".

   Inserted: (c) Election.--Paragraph (2) of section 179(c) of such Code is amended--

   Inserted: (1) by striking "may not be revoked" and all that follows through "and before 2014", and

   Inserted: (2) by striking "irrevocable" in the heading thereof.

   Inserted: (d) Air Conditioning and Heating Units.--The last sentence of section 179(d)(1) of such Code is amended by striking "and shall not include air conditioning or heating units".

   Inserted: (e) Qualified Real Property.--Subsection (f) of section 179 of such Code is amended--

   Inserted: (1) by striking "beginning in 2010, 2011, 2012, or 2013" in paragraph (1), and

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   Inserted: (2) by striking paragraphs (3) and (4).

   Inserted: (f) Adjustment for Inflation.--Subsection (b) of section 179 of such Code is amended by adding at the end the following new paragraph:

   Inserted: "(6) Inflation adjustment.--

   Inserted: "(A) In general.--In the case of any taxable year beginning after 2013, the dollar amounts in paragraphs (1) and (2) shall each be increased by an amount equal to--

   Inserted: "(i) such dollar amount, multiplied by

   Inserted: "(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 2012' for 'calendar year 1992' in subparagraph (B) thereof.

   Inserted: "(B) Rounding.--

   Inserted: "(i) Dollar limitation.--If the amount in paragraph (1) as increased under subparagraph (A) of this paragraph is not a multiple of $1,000, such amount shall be rounded to the nearest multiple of $1,000.

   Inserted: "(ii) Phaseout amount.--If the amount in paragraph (2) as increased under subparagraph (A) of this paragraph is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000.".

   Inserted: (g) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2013.

   Inserted: SEC. 202. BONUS DEPRECIATION MODIFIED AND MADE PERMANENT.

   Inserted: (a) Made Permanent; Inclusion of Qualified Retail Improvement Property.--Section 168(k)(2) of the Internal Revenue Code of 1986 is amended to read as follows:

   Inserted: "(2) Qualified property.--For purposes of this subsection--

   Inserted: "(A) In general.--The term 'qualified property' means property--

   Inserted: "(i)(I) to which this section applies which has a recovery period of 20 years or less,

   Inserted: "(II) which is computer software (as defined in section 167(f)(1)(B)) for which a deduction is allowable under section 167(a) without regard to this subsection,

   Inserted: "(III) which is water utility property,

   Inserted: "(IV) which is qualified leasehold improvement property, or

   Inserted: "(V) which is qualified retail improvement property, and

   Inserted: "(ii) the original use of which commences with the taxpayer.

   Inserted: "(B) Exception for alternative depreciation property.--The term 'qualified property' shall not include any property to which the alternative depreciation system under subsection (g) applies, determined--

   Inserted: "(i) without regard to paragraph (7) of subsection (g) (relating to election to have system apply), and

   Inserted: "(ii) after application of section 280F(b) (relating to listed property with limited business use).

   Inserted: "(C) Special rules.--

   Inserted: "(i) Sale-leasebacks.--For purposes of clause (ii) and subparagraph (A)(ii), if property is--

   Inserted: "(I) originally placed in service by a person, and

   Inserted: "(II) sold and leased back by such person within 3 months after the date such property was originally placed in service, such property shall be treated as originally placed in service not earlier than the date on which such property is used under the leaseback referred to in subclause (II).

   Inserted: "(ii) Syndication.--For purposes of subparagraph (A)(ii), if--

   Inserted: "(I) property is originally placed in service by the lessor of such property,

   Inserted: "(II) such property is sold by such lessor or any subsequent purchaser within 3 months after the date such property was originally placed in service (or, in the case of multiple units of property subject to the same lease, within 3 months after the date the final unit is placed in service, so long as the period between the time the first unit is placed in service and the time the last unit is placed in service does not exceed 12 months), and

   Inserted: "(III) the user of such property after the last sale during such 3-month period remains the same as when such property was originally placed in service, such property shall be treated as originally placed in service not earlier than the date of such last sale.

   Inserted: "(D) Coordination with section 280f.--For purposes of section 280F--

   Inserted: "(i) Automobiles.--In the case of a passenger automobile (as defined in section 280F(d)(5)) which is qualified property, the Secretary shall increase the limitation under section 280F(a)(1)(A)(i) by $8,000.

   Inserted: "(ii) Listed property.--The deduction allowable under paragraph (1) shall be taken into account in computing any recapture amount under section 280F(b)(2).

   Inserted: "(iii) Inflation adjustment.--In the case of any taxable year beginning in a calendar year after 2014, the $8,000 amount in clause (i) shall be increased by an amount equal to--

   Inserted: "(I) such dollar amount, multiplied by

   Inserted: "(II) the automobile price inflation adjustment determined under section 280F(d)(7)(B)(i) for the calendar year in which such taxable year begins by substituting '2013' for '1987' in subclause (II) thereof.

   Inserted: If any increase under the preceding sentence is not a multiple of $100, such increase shall be rounded to the nearest multiple of $100.

   Inserted: "(E) Deduction allowed in computing minimum tax.--For purposes of determining alternative minimum taxable income under section 55, the deduction under section 167 for qualified property shall be determined without regard to any adjustment under section 56.".

   Inserted: (b) Expansion of Election to Accelerate Amt Credits in Lieu of Bonus Depreciation.--Section 168(k)(4) of such Code is amended to read as follows:

   Inserted: "(4) Election to accelerate amt credits in lieu of bonus depreciation.--

   Inserted: "(A) In general.--If a corporation elects to have this paragraph apply for any taxable year--

   Inserted: "(i) paragraphs (1)(A), (2)(D)(i), and (5)(A)(i) shall not apply for such taxable year,

   Inserted: "(ii) the applicable depreciation method used under this section with respect to any qualified property shall be the straight line method, and

   Inserted: "(iii) the limitation imposed by section 53(c) for such taxable year shall be increased by the bonus depreciation amount which is determined for such taxable year under subparagraph (B).

   Inserted: "(B) Bonus depreciation amount.--For purposes of this paragraph--

   Inserted: "(i) In general.--The bonus depreciation amount for any taxable year is an amount equal to 20 percent of the excess (if any) of--

   Inserted: "(I) the aggregate amount of depreciation which would be allowed under this section for qualified property placed in service by the taxpayer during such taxable year if paragraph (1) applied to all such property, over

   Inserted: "(II) the aggregate amount of depreciation which would be allowed under this section for qualified property placed in service by the taxpayer during such taxable year if paragraph (1) did not apply to any such property.

   Inserted: The aggregate amounts determined under subclauses (I) and (II) shall be determined without regard to any election made under subsection (b)(2)(D), (b)(3)(D), or (g)(7) and without regard to subparagraph (A)(ii).

   Inserted: "(ii) Limitation.--The bonus depreciation amount for any taxable year shall not exceed the lesser of--

   Inserted: "(I) 50 percent of the minimum tax credit under section 53(b) for the first taxable year ending after December 31, 2013, or

   Inserted: "(II) the minimum tax credit under section 53(b) for such taxable year determined by taking into account only the adjusted net minimum tax for taxable years ending before January 1, 2014 (determined by treating credits as allowed on a first-in, first-out basis).

   Inserted: "(iii) Aggregation rule.--All corporations which are treated as a single employer under section 52(a) shall be treated--

   Inserted: "(I) as 1 taxpayer for purposes of this paragraph, and

   Inserted: "(II) as having elected the application of this paragraph if any such corporation so elects.

   Inserted: "(C) Credit refundable.--For purposes of section 6401(b), the aggregate increase in the credits allowable under part IV of subchapter A for any taxable year resulting from the application of this paragraph shall be treated as allowed under subpart C of such part (and not any other subpart).

   Inserted: "(D) Other rules.--

   Inserted: "(i) Election.--Any election under this paragraph may be revoked only with the consent of the Secretary.

   Inserted: "(ii) Partnerships with electing partners.--In the case of a corporation which is a partner in a partnership and which makes an election under subparagraph (A) for the taxable year, for purposes of determining such corporation's distributive share of partnership items under section 702 for such taxable year--

   Inserted: "(I) paragraphs (1)(A), (2)(D)(i), and (5)(A)(i) shall not apply, and

   Inserted: "(II) the applicable depreciation method used under this section with respect to any qualified property shall be the straight line method.

   Inserted: "(iii) Certain partnerships.--In the case of a partnership in which more than 50 percent of the capital and profits interests are owned (directly or indirectly) at all times during the taxable year by 1 corporation (or by corporations treated as 1 taxpayer under subparagraph (B)(iii)), each partner shall compute its bonus depreciation amount under clause (i) of subparagraph (B) by taking into account its distributive share of the amounts determined by the partnership under subclauses (I) and (II) of such clause for the taxable year of the partnership ending with or within the taxable year of the partner.".

   Inserted: (c) Special Rules for Trees and Vines Bearing Fruits and Nuts.--Section 168(k) of such Code is amended--

   Inserted: (1) by striking paragraph (5), and

   Inserted: (2) by inserting after paragraph (4) the following new paragraph:

   Inserted: "(5) Special rules for trees and vines bearing fruits and nuts.--

   Inserted: "(A) In general.--In the case of any tree or vine bearing fruits or nuts which is planted, or is grafted to a plant that has already been planted, by the taxpayer in the ordinary course of the taxpayer's farming business (as defined in section 263A(e)(4))--

   Inserted: "(i) a depreciation deduction equal to 50 percent of the adjusted basis of such tree or vine shall be allowed under section 167(a) for the taxable year in which such tree or vine is so planted or grafted, and

   Inserted: "(ii) the adjusted basis of such tree or vine shall be reduced by the amount of such deduction.

   Inserted: "(B) Election out.--If a taxpayer makes an election under this subparagraph for any taxable year, this paragraph shall not apply to any tree or vine planted or grafted during such taxable year. An election under this subparagraph may be revoked only with the consent of the Secretary.

   Inserted: "(C) Additional depreciation may be claimed only once.--If this paragraph applies to any tree or vine, such tree or vine shall not be treated as qualified property in the taxable year in which placed in service.

   Inserted: "(D) Coordination with election to accelerate amt credits.--If a corporation makes an election under paragraph (4) for any taxable year, the amount under paragraph (4)(B)(i)(I) for such taxable year shall be increased by the amount determined under subparagraph (A)(i) for such taxable year.

   Inserted: "(E) Deduction allowed in computing minimum tax.--Rules similar to the rules of paragraph (2)(E) shall apply for purposes of this paragraph.".

   Inserted: (d) Conforming Amendments.--

   Inserted: (1) Section 168(e)(8) of such Code is amended by striking subparagraph (D).

   Inserted: (2) Section 168(k) of such Code is amended by adding at the end the following new paragraph:

   Inserted: "(6) Election out.--If a taxpayer makes an election under this paragraph with respect to any class of property for any taxable year, this subsection shall not apply to all property in such class placed in service (or, in the case of paragraph (5), planted or grafted) during such taxable year. An election under this paragraph may be revoked only with the consent of the Secretary.".

   Inserted: (3) Section 168(l)(5) of such Code is amended by striking "section 168(k)(2)(G)" and inserting "section 168(k)(2)(E)".

   Inserted: (4) Section 263A(c) of such Code is amended by adding at the end the following new paragraph:

   Inserted: "(7) Coordination with section 168(k)(5).--This section shall not apply to any amount allowable as a deduction by reason of section 168(k)(5) (relating to special rules for trees and vines bearing fruits and nuts).".

   Inserted: (5) Section 460(c)(6)(B) of such Code is amended by striking "which--" and all that follows and inserting "which has a recovery period of 7 years or less.".

   Inserted: (6) Section 168(k) of such Code is amended by striking "Acquired After December 31, 2007, and Before January 1, 2014" in the heading thereof.

   Inserted: (e) Effective Dates.--

   Inserted: (1) In general.--Except as otherwise provided in this subsection, the amendments made by this section shall apply to property placed in service after December 31, 2013.

   Inserted: (2) Expansion of election to accelerate amt credits in lieu of bonus depreciation.--

   Inserted: (A) In general.--The amendment made by subsection (b) (other than so much of such amendment as relates to section 168(k)(4)(D)(iii) of such Code, as added by such amendment) shall apply to taxable years ending after December 31, 2013.

   Inserted: (B) Transitional rule.--In the case of a taxable year beginning before January 1, 2014, and ending after December 31, 2013, the bonus depreciation amount determined under section 168(k)(4) of such Code for such year shall be the sum of--

   Inserted: (i) such amount determined without regard to the amendments made by this section and--

   Inserted: (I) by taking into account only property placed in service before January 1, 2014, and

   Inserted: (II) by multiplying the limitation under section 168(k)(4)(C)(ii) of such Code (determined without regard to the amendments made by this section) by a fraction the numerator of which is the number of days in the taxable year before January 1, 2014, and the denominator of which is the number of days in the taxable year, and

   Inserted: (ii) such amount determined after taking into account the amendments made by this section and--

   Inserted: (I) by taking into account only property placed in service after December 31, 2013, and

   Inserted: (II) by multiplying the limitation under section 168(k)(4)(B)(ii) of such Code (as amended by this section) by a fraction the numerator of which is the number of days in the taxable year after December 31, 2013, and the denominator of which is the number of days in the taxable year.

   Inserted: (3) Special rules for certain trees and vines.--The amendment made by subsection (c)(2) shall apply to trees and vines planted or grafted after December 31, 2013.

   Inserted: SEC. 203. PERMANENT EXTENSION AND MODIFICATION OF RESEARCH CREDIT.

   Inserted: (a) Simplified Credit for Qualified Research Expenses.--Subsection (a) of section 41 of the Internal Revenue Code of 1986 is amended to read as follows:

   Inserted: "(a) General Rule.--For purposes of section 38, the research credit determined under this section for the taxable year shall be an amount equal to 20 percent of so much of the qualified research expenses for the taxable year as exceeds 50 percent of the average qualified research expenses for the 3 taxable years preceding the taxable year for which the credit is being determined.".

   Inserted: (b) Special Rules and Termination of Base Amount Calculation.--

   Inserted: (1) In general.--Subsection (c) of section 41 of such Code is amended to read as follows:

   Inserted: "(c) Special Rule in Case of No Qualified Research Expenses in Any of 3 Preceding Taxable Years.--

   Inserted: "(1) Taxpayers to which subsection applies.--The credit under this section shall be determined under this subsection, and not under subsection (a), if, in any one of the 3 taxable years preceding the taxable year for which the credit is being determined, the taxpayer has no qualified research expenses.

   Inserted: "(2) Credit rate.--The credit determined under this subsection shall be equal to 10 percent of the qualified research expenses for the taxable year.".

   Inserted: (2) Consistent treatment of expenses.--Subsection (b) of section 41 of such Code is amended by adding at the end the following new paragraph:

   Inserted: "(5) Consistent treatment of expenses required.--

   Inserted: "(A) In general.--Notwithstanding whether the period for filing a claim for credit or refund has expired for any taxable year in the 3-taxable-year period taken into account under subsection (a), the qualified research expenses taken into account for such year shall be determined on a basis consistent with the determination of qualified research expenses for the credit year.

   Inserted: "(B) Prevention of distortions.--The Secretary may prescribe regulations to prevent distortions in calculating a taxpayer's qualified research expenses caused by a change in accounting methods used by such taxpayer between the credit year and a year in such 3-taxable-year period.".

   Inserted: (c) Inclusion of Qualified Research Expenses of an Acquired Person.--

   Inserted: (1) Partial inclusion of pre-acquisition qualified research expenses.--Subparagraph (A) of section 41(f)(3) of such Code is amended to read as follows:

   Inserted: "(A) Acquisitions.--

   Inserted: "(i) In general.--If a person acquires the major portion of a trade or business of another person (hereinafter in this paragraph referred to as the 'predecessor') or the major portion of a separate unit of a trade or business of a predecessor, then the amount of qualified research expenses paid or incurred by the acquiring person during the 3 taxable years preceding the taxable year in which the credit under this section is determined shall be increased by--

   Inserted: "(I) for purposes of applying this section for the taxable year in which such acquisition is made, the amount determined under clause (ii), and

   Inserted: "(II) for purposes of applying this section for any taxable year after the taxable year in which such acquisition is made, so much of the qualified research expenses paid or incurred by the predecessor with respect to the acquired trade or business during the portion of the measurement period that is part of the 3-taxable-year period preceding the taxable year for which the credit is determined as is attributable to the portion of such trade or business or separate unit acquired by such person.

   Inserted: "(ii) Amount determined.--The amount determined under this clause is the amount equal to the product of--

   Inserted: "(I) so much of the qualified research expenses paid or incurred by the predecessor with respect to the acquired trade or business during the 3 taxable years before the taxable year in which the acquisition is made as is attributable to the portion of such trade or business or separate unit acquired by the acquiring person, and

   Inserted: "(II) the number of months in the period beginning on the date of the acquisition and ending on the last day of the taxable year in which the acquisition is made, divided by 12.

   Inserted: "(iii) Special rules for coordinating taxable years.--In the case of an acquiring person and a predecessor whose taxable years do not begin on the same date--

   Inserted: "(I) each reference to a taxable year in clauses (i) and (ii) shall refer to the appropriate taxable year of the acquiring person,

   Inserted: "(II) the qualified research expenses paid or incurred by the predecessor during each taxable year of the predecessor any portion of which is part of the measurement period shall be allocated equally among the months of such taxable year, and

   Inserted: "(III) the amount of such qualified research expenses taken into account under clauses (i) and (ii) with respect to a taxable year of the acquiring person shall be equal to the total of the expenses attributable under subclause (II) to the months occurring during such taxable year.

   Inserted: "(iv) Measurement period.--For purposes of this subparagraph, the term 'measurement period' means the taxable year of the acquiring person in which the acquisition is made and the 3 taxable years of the acquiring person preceding such taxable year.".

   Inserted: (2) Expenses of a predecessor.--Subparagraph (B) of section 41(f)(3) of such Code is amended to read as follows:

   Inserted: "(B) Dispositions.--If the predecessor furnished to the acquiring person such information as is necessary for the application of subparagraph (A), then, for purposes of applying this section for any taxable year ending after such disposition, the amount of qualified research expenses paid or incurred by the predecessor during the 3 taxable years preceding such taxable year shall be reduced--

   Inserted: "(i) in the case of the taxable year in which such disposition is made, by an amount equal to the product of--

   Inserted: "(I) the amount of qualified research expenses paid or incurred during such 3 taxable years with respect to the acquired business, and

   Inserted: "(II) the number of days in the period beginning on the date of acquisition (as determined for purposes of subparagraph (A)(ii)(II)) and ending on the last day of the taxable year of the predecessor in which the disposition is made, divided by the number of days in the taxable year of the predecessor, and

   Inserted: "(ii) in the case of any taxable year ending after the taxable year in which such disposition is made, the amount described in clause (i)(I).".

   Inserted: (d) Aggregation of Expenditures.--Paragraph (1) of section 41(f) of such Code, as amended by the American Taxpayer Relief Act of 2012, is amended--

   Inserted: (1) by striking "of the qualified research expenses, basic research payments, and amounts paid or incurred to energy research consortiums," in subparagraph (A)(ii) and inserting "qualified research expenses", and

   Inserted: (2) by striking "of the qualified research expenses, basic research payments, and amounts paid or incurred to energy research consortiums," in subparagraph (B)(ii) and inserting "qualified research expenses".

   Inserted: (e) Permanent Extension.--

   Inserted: (1) Section 41 of such Code is amended by striking subsection (h).

   Inserted: (2) Paragraph (1) of section 45C(b) of such Code is amended by striking subparagraph (D).

   Inserted: (f) Conforming Amendments.--

   Inserted: (1) Termination of basic research payment calculation.--Section 41 of such Code is amended--

   Inserted: (A) by striking subsection (e),

   Inserted: (B) by redesignating subsection (g) as subsection (e), and

   Inserted: (C) by relocating subsection (e), as so redesignated, immediately after subsection (d).

   Inserted: (2) Special rules.--

   Inserted: (A) Paragraph (4) of section 41(f) of such Code is amended by striking "and gross receipts".

   Inserted: (B) Subsection (f) of section 41 of such Code is amended by striking paragraph (6).

   Inserted: (3) Cross-references.--

   Inserted: (A) Paragraph (2) of section 45C(c) of such Code is amended by striking "base period research expenses" and inserting "average qualified research expenses".

   Inserted: (B) Subparagraph (A) of section 54(l)(3) of such Code is amended by striking "section 41(g)" and inserting "section 41(e)".

   Inserted: (C) Clause (i) of section 170(e)(4)(B) of such Code is amended to read as follows:

   Inserted: "(i) the contribution is to a qualified organization,".

   Inserted: (D) Paragraph (4) of section 170(e) of such Code is amended by adding at the end the following new subparagraph:

   Inserted: "(E) Qualified organization.--For purposes of this paragraph, the term 'qualified organization' means--

   Inserted: "(i) any educational organization which--

   Inserted: "(I) is an institution of higher education (within the meaning of section 3304(f)), and

   Inserted: "(II) is described in subsection (b)(1)(A)(ii), or

   Inserted: "(ii) any organization not described in clause (i) which--

   Inserted: "(I) is described in section 501(c)(3) and is exempt from tax under section 501(a),

   Inserted: "(II) is organized and operated primarily to conduct scientific research, and

   Inserted: "(III) is not a private foundation.".

   Inserted: (E) Section 280C of such Code is amended--

   Inserted: (i) by striking "or basic research expenses (as defined in section 41(e)(2))" in subsection (c)(1),

   Inserted: (ii) by striking "section 41(a)(1)" in subsection (c)(2)(A) and inserting "section 41(a)", and

   Inserted: (iii) by striking "or basic research expenses" in subsection (c)(2)(B).

   Inserted: (F) Clause (i) of section 1400N(l)(7)(B) of such Code is amended by striking "section 41(g)" and inserting "section 41(e)".

   Inserted: (g) Technical Corrections.--Section 409 of such Code is amended--

   Inserted: (1) by inserting ", as in effect before the enactment of the Tax Reform Act of 1984)" after "section 41(c)(1)(B)" in subsection (b)(1)(A),

   Inserted: (2) by inserting ", as in effect before the enactment of the Tax Reform Act of 1984" after "relating to the employee stock ownership credit" in subsection (b)(4),

   Inserted: (3) by inserting "(as in effect before the enactment of the Tax Reform Act of 1984)" after "section 41(c)(1)(B)" in subsection (i)(1)(A),

   Inserted: (4) by inserting "(as in effect before the enactment of the Tax Reform Act of 1984)" after "section 41(c)(1)(B)" in subsection (m), and

   Inserted: (5) by inserting "(as so in effect)" after "section 48(n)(1)" in subsection (m).

   Inserted: (h) Effective Dates.--

   Inserted: (1) In general.--Except as provided in paragraphs (2) and (3), the amendments made by this section shall apply to credits determined for taxable years beginning after December 31, 2013.

   Inserted: (2) Permanent extension.--The amendments made by subsection (e) shall apply to amounts paid or incurred after December 31, 2013.

   Inserted: (3) Technical corrections.--The amendments made by subsection (g) shall take effect on the date of the enactment of this Act.

   Inserted: SEC. 204. PERMANENT FULL EXCLUSION APPLICABLE TO QUALIFIED SMALL BUSINESS STOCK.

   Inserted: (a) In General.--Paragraph (4) of section 1202(a) of the Internal Revenue Code of 1986 is amended--

   Inserted: (1) by striking "and before January 1, 2014", and

   Inserted: (2) by striking "certain periods in 2010, 2011, 2012, and 2013" in the heading and inserting "certain periods after 2009".

   Inserted: (b) Conforming Amendments.--

   Inserted: (1) The heading for section 1202 of such Code is amended by striking "partial".

   Inserted: (2) The item relating to section 1202 in the table of sections of such Code for part I of subchapter P of chapter 1 is amended by striking "Partial exclusion" and inserting "Exclusion".

   Inserted: (3) Section 1223(13) of such Code is amended by striking "1202(a)(2),".

   Inserted: (c) Effective Date.--The amendments made by this section apply to stock acquired after December 31, 2013.

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