H.R. 6423

To reauthorize the Secure Rural Schools and Community Self-Determination Act of 2000 and to offset the cost of payments to States and counties under such Act, and for other purposes.

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I

109th CONGRESS

2d Session

H. R. 6423

IN THE HOUSE OF REPRESENTATIVES

December 8, 2006

Mr. Walden of Oregon (for himself, Mr. Barton of Texas, Mr. DeFazio, Mr. Doolittle, Mr. Dicks, Mr. Thompson of California, and Mr. Hastings of Washington) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Agriculture and Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To reauthorize the Secure Rural Schools and Community Self-Determination Act of 2000 and to offset the cost of payments to States and counties under such Act, and for other purposes.

1.

One-year extension of payments and other authorities under the Secure Rural Schools and Community Self-Determination Act of 2000

(a)

One-year extension

The Secure Rural Schools and Community Self-Determination Act of 2000 (Public Law 106–393; 16 U.S.C. 500 note) is amended—

(1)

in sections 208 and 303, by striking 2007 both places it appears and inserting 2008; and

(2)

in sections 101(a), 102(b)(2), 103(b)(1), 203(a)(1), 207(a), 208, 303, and 401, by striking 2006 each place it appears and inserting 2007.

(b)

Offset

(1)

Temporary acceleration of effective date

Section 511(b) of the Tax Increase Prevention and Reconciliation Act of 2005 (Public Law 109–222; 120 Stat. 365) is amended by striking after December 31, 2010 and inserting during the period beginning on January 1, 2007, and ending on December 31, 2007, and after December 31, 2010.

(2)

Exclusion for payments to small businesses

Paragraph (2) of section 3402(t) of the Internal Revenue Code of 1986 is amended by striking and at the end of subparagraph (H), by striking the period at the end of subparagraph (I) and inserting a semicolon, and by adding at the end the following new subparagraphs:

(J)

during the period beginning on January 1, 2007, and ending on December 31, 2007, to any business which employed fewer than 50 employees during the preceding taxable year; and

(K)

during the period beginning on January 1, 2007, and ending on December 31, 2007, for State and local governments.

For purposes of subparagraphs (J) and (K), rules similar to the rules of paragraphs (2)(A) and (6) of section 44(d) shall apply.

.

(3)

Effective date

The amendments made by this subsection shall take effect as if included in the Tax Increase Prevention and Reconciliation Act of 2005 (Public Law 109–222).