Statements on Introduced Bills and Joint Resolutions - S1896
STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS
By Mr. GRASSLEY (for himself, Mr. BAUCUS, Mr. SMITH, Mr. ROCKEFELLER, Mr. HATCH, Mr. CONRAD, Mr. BUNNING, Mr. GRAHAM of Florida, Mr. SANTORUM, Mr. JEFFORDS, and Mr. BREAUX):
S. 1896. A bill to provide extensions for certain expiring provisions of the Internal Revenue Code of 1986, and for other purposes; to the Committee on Finance.
Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of the bill be printed in the RECORD.
There being no objection, the bill was ordered to be printed in the RECORD, as follows:
S. 1896
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.
(a) SHORT TITLE.-This Act may be cited as the "Tax Relief Extension Act of 2003".
(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.
TITLE I-EXTENSIONS OF CERTAIN EXPIRING PROVISIONS
SEC. 101. PARITY IN THE APPLICATION OF CERTAIN LIMITS TO MENTAL HEALTH BENEFITS.
(a) IN GENERAL.-Paragraph (2) of section 9812(f) is amended by striking "December 31, 2003" and inserting "June 30, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall take effect on January 1, 2004.
SEC. 102. CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE RESOURCES.
(a) IN GENERAL.-Subparagraphs (A), (B), and (C) of section 45(c)(3) are each amended by striking "January 1, 2004" and inserting "July 1, 2004".
(b) EFFECTIVE DATE.-The amendments made by subsection (a) shall apply to facilities placed in service after December 31, 2003.
SEC. 103. WORK OPPORTUNITY CREDIT.
(a) IN GENERAL.-Subparagraph (B) of section 51(c)(4) is amended by striking "December 31, 2003" and inserting "June 30, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to individuals who begin work for the employer after December 31, 2003.
SEC. 104. WELFARE-TO-WORK CREDIT.
(a) IN GENERAL.-Subsection (f) of section 51A is amended by striking "December 31, 2003" and inserting "June 30, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to individuals who begin work for the employer after December 31, 2003.
SEC. 105. TAXABLE INCOME LIMIT ON PERCENTAGE DEPLETION FOR OIL AND NATURAL GAS PRODUCED FROM MARGINAL PROPERTIES.
(a) IN GENERAL.-Subparagraph (H) of section 613A(c)(6) is amended-
(1) by striking "January 1, 2004" and inserting "July 1, 2004", and
(2) by adding at the end the following new sentence: "In the case of any taxable year beginning after December 31, 2003, which includes June 30, 2004, any increase in the allowance for depletion by reason of this subparagraph shall be equal to the amount which bears the same ratio to the increase in such allowance determined without regard to this sentence as the number of days in the taxable year before July 1, 2004, bears to the total number of days in such taxable year.".
(b) EFFECTIVE DATE.-The amendments made by subsection (a) shall apply to taxable years beginning after December 31, 2003.
SEC. 106. QUALIFIED ZONE ACADEMY BONDS.
(a) IN GENERAL.-Paragraph (1) of section 1397E(e) is amended by inserting "$200,000,000 for the period beginning after December 31, 2003, and before July 1, 2004," after "2003,".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to obligations issued after December 31, 2003.
SEC. 107. COVER OVER OF TAX ON DISTILLED SPIRITS.
(a) IN GENERAL.-Paragraph (1) of section 7652(f) is amended by striking "January 1, 2004" and inserting "July 1, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to articles brought into the United States after December 31, 2003.
SEC. 108. DEDUCTION FOR CORPORATE DONATIONS OF COMPUTER TECHNOLOGY.
(a) EXTENSION OF DEDUCTION.-Section 170(e)(6)(G) (relating to termination) is amended by striking "contribution made during any taxable year beginning after December 31, 2003" and inserting "contribution made after June 30, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to contributions made after December 31, 2003.
SEC. 109. CREDIT FOR QUALIFIED ELECTRIC VEHICLES.
(a) IN GENERAL.-Section 30 is amended-
(1) in subsection (b)(2)-
(A) by striking "December 31, 2003," and inserting "June 30, 2004,",
(B) in subparagraph (A), by striking "calendar year 2004" and inserting "after June 30, 2004, and before July 1, 2005",
© in subparagraph (B), by striking "calendar year 2005" and inserting "after June 30, 2005, and before July 1, 2006", and
(D) in subparagraph ©, by striking "calendar year 2006" and inserting "after June 30, 2006, and before July 1, 2007", and
(2) in subsection (e), by striking "December 31, 2006" and inserting "June 30, 2007".
(b) CONFORMING AMENDMENT.-Clause (iii) of section 280F(a)(1)(C) is amended by striking "January 1, 2007" and inserting "July 1, 2007".
© EFFECTIVE DATE.-The amendments made by this section shall apply to property placed in service after December 31, 2003.
SEC. 110. DEDUCTION FOR CLEAN-FUEL VEHICLES AND CERTAIN REFUELING PROPERTY.
(a) IN GENERAL.-Section 179A is amended-
(1) in subsection (b)(1)(B)-
(A) by striking "December 31, 2003," and inserting "June 30, 2004,",
(B) in clause (i), by striking "calendar year 2004" and inserting "after June 30, 2004, and before July 1, 2005",
© in clause (ii), by striking "calendar year 2005" and inserting "after June 30, 2005, and before July 1, 2006", and
(D) in clause (iii), by striking "calendar year 2006" and inserting "after June 30, 2006, and before July 1, 2007", and
(2) in subsection (f), by striking "December 31, 2006" and inserting "June 30, 2007".
(b) EFFECTIVE DATE.-The amendments made by subsection (a) shall apply to property placed in service after December 31, 2003.
SEC. 111. DEDUCTION FOR CERTAIN EXPENSES OF SCHOOL TEACHERS.
(a) IN GENERAL.-Subparagraph (D) of section 62(a)(2) is amended-
(1) by inserting "and the period beginning after December 31, 2003, and before July 1, 2004," after "2003,", and
(2) by inserting "for each taxable year or $125 for such period" after "$250".
(b) EFFECTIVE DATE.-The amendments made by subsection (a) shall apply to expenses paid or incurred after December 31, 2003.
SEC. 112. AVAILABILITY OF MEDICAL SAVINGS ACCOUNTS.
(a) IN GENERAL.-Paragraphs (2) and (3)(B) of section 220(i) (defining cut-off year) are each amended by striking "2003" each place it appears and inserting "2004".
(b) CONFORMING AMENDMENTS.-
(1) Paragraph (2) of section 220(j) is amended by striking "1998, 1999, 2001, or 2002" each place it appears and inserting "1998, 1999, 2001, 2002, or 2003".
(2) Subparagraph (A) of section 220(j)(4) is amended by striking "and 2002" and inserting "2002, and 2003".
© EFFECTIVE DATE.-The amendments made by this section shall take effect on January 1, 2004.
SEC. 113. EXPENSING OF ENVIRONMENTAL REMEDIATION COSTS.
(a) EXTENSION OF TERMINATION DATE.-Subsection (h) of section 198 is amended by striking "December 31, 2003" and inserting "June 30, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to expenditures paid or incurred after December 31, 2003.
SEC. 114. EXPANSION OF WOTC TO NEW YORK LIBERTY ZONE.
(a) IN GENERAL.-Subclause (I) of section 1400L(a)(2)(D)(iv) is amended by inserting "or the period beginning after December 31, 2003, and before July 1, 2004" after "2003".
(b) CONFORMING AMENDMENT.-Subclause (II) of section 1400L(a)(2)(D)(iv) is amended by inserting "or period described in subclause (I)" after "year".
© EFFECTIVE DATE.-The amendments made by this section shall apply to individuals who begin work for the employer after December 31, 2003.
SEC. 115. TEMPORARY SPECIAL RULES FOR TAXATION OF LIFE INSURANCE COMPANIES.
(a) IN GENERAL.-Subsection (j) of section 809 is amended by striking "or 2003" and inserting "2003, or 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2003.
SEC. 116. TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.
(a) DESIGNATION OF ZONE.-Subsection (f) of section 1400 is amended by striking "December 31, 2003" both places it appears and inserting "June 30, 2004".
(b) TAX-EXEMPT ECONOMIC DEVELOPMENT BONDS.-Subsection (b) of section 1400A is amended by striking "December 31, 2003" and inserting "June 30, 2004".
© ZERO PERCENT CAPITAL GAINS RATE.-
(1) IN GENERAL.-Subsection (b) of section 1400B is amended by striking "January 1, 2004" each place it appears and inserting "July 1, 2004".
(2) CONFORMING AMENDMENTS.-
(A) Section 1400B(e)(2) is amended-
(i) by striking "December 31, 2008" and inserting "June 30, 2009", and
(ii) by striking "2008" in the heading and inserting "JUNE 2009".
(B) Section 1400B(g)(2) is amended by striking "December 31, 2008" and inserting "June 30, 2009".
© Section 1400F(d) is amended by striking "December 31, 2008" and inserting "June 30, 2009".
(d) FIRST-TIME HOMEBUYER CREDIT.-Subsection (i) of section 1400C is amended by striking "January 1, 2004" and inserting "July 1, 2004".
(e) EFFECTIVE DATE.-The amendments made by this section shall take effect on January 1, 2004.
SEC. 117. COMBINED EMPLOYMENT TAX REPORTING PROGRAM.
(a) IN GENERAL.-Paragraph (1) of section 976(b) of the Taxpayer Relief Act of 1997 is amended by striking "for a period ending with the date which is 5 years after the date of the enactment of this Act" and inserting "during the period ending before July 1, 2004".
(b) EFFECTIVE DATE.-The amendment made by subsection (a) shall apply to disclosures on or after the date of the enactment of this Act.
TITLE II-REVENUE PROVISIONS
SEC. 201. ADDITION OF VACCINES AGAINST HEPATITIS A TO LIST OF TAXABLE VACCINES.
(a) IN GENERAL.-Section 4132(a)(1) (defining taxable vaccine) is amended by redesignating subparagraphs (I), (J), (K), and (L) as subparagraphs (J), (K), (L), and (M), respectively, and by inserting after subparagraph (H) the following new subparagraph:
"(I) Any vaccine against hepatitis A.".
(b) CONFORMING AMENDMENT.-Section 9510(c)(1)(A) is amended by striking "October 18, 2000" and inserting "the date of the enactment of the Tax Relief Extension Act of 2003".
© EFFECTIVE DATE.-
(1) SALES, ETC.-The amendments made by this section shall apply to sales and uses on or after the first day of the first month which begins more than 4 weeks after the date of the enactment of this Act.
(2) DELIVERIES.-For purposes of paragraph (1) and section 4131 of the Internal Revenue Code of 1986, in the case of sales on or before the effective date described in such paragraph for which delivery is made after such date, the delivery date shall be considered the sale date.
SEC. 202. ADDITION OF VACCINES AGAINST INFLUENZA TO LIST OF TAXABLE VACCINES.
(a) IN GENERAL.-Section 4132(a)(1) (defining taxable vaccine), as amended by this Act, is amended by adding at the end the following new subparagraph:
"(N) Any trivalent vaccine against influenza.".
(b) EFFECTIVE DATE.-
(1) SALES, ETC.-The amendment made by this section shall apply to sales and uses on or after the later of-
(A) the first day of the first month which begins more than 4 weeks after the date of the enactment of this Act, or
(B) the date on which the Secretary of Health and Human Services lists any vaccine against influenza for purposes of compensation for any vaccine-related injury or death through the Vaccine Injury Compensation Trust Fund.
(2) DELIVERIES.-For purposes of paragraph (1) and section 4131 of the Internal Revenue Code of 1986, in the case of sales on or before the effective date described in such paragraph for which delivery is made after such date, the delivery date shall be considered the sale date.
SEC. 203. EXTENSION OF TRANSFERS OF EXCESS PENSION ASSETS TO RETIREE HEALTH ACCOUNTS.
(a) Amendment of Internal Revenue Code of 1986.-Paragraph (5) of section 420(b) (relating to expiration) is amended by striking "December 31, 2005" and inserting "December 31, 2013".
(b) AMENDMENTS OF ERISA.-
(1) Section 101(e)(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(e)(3)) is amended by striking "Tax Relief Extension Act of 1999" and inserting "Tax Relief Extension Act of 2003".
(2) Section 403©(1) of such Act (29 U.S.C. 1103©(1)) is amended by striking "Tax Relief Extension Act of 1999" and inserting "Tax Relief Extension Act of 2003".
(3) Paragraph (13) of section 408(b) of such Act (29 U.S.C. 1108(b)(3)) is amended-
(A) by striking "January 1, 2006" and inserting "January 1, 2014", and
(B) by striking "Tax Relief Extension Act of 1999" and inserting "Tax Relief Extension Act of 2003".
SEC. 204. EXTENSION OF IRS USER FEES.
(a) IN GENERAL.-Section 7528(c) (relating to termination) is amended by striking "December 31, 2004" and inserting "December 31, 2011".
(b) EFFECTIVE DATE.-The amendment made by this section shall apply to requests after the date of the enactment of this Act.