JCT Scores Senate-Passed Tax Relief Act
FEB. 8, 2006
JCX-9-06
DOCUMENT ATTRIBUTES
- Institutional AuthorsJoint Committee on Taxation
- Cross-ReferenceFor the Senate-passed version of H.R. 4297, see Doc 2006-2562
[PDF]. - Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2006-2545
- Tax Analysts Electronic Citation2006 TNT 27-14
Citations: JCX-9-06
JOINT COMMITTEE ON TAXATION
February 8, 2006
JCX-9-06
[Millions of Dollars]
Provision Effective
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
______________________________________________________________________________
I. Extension of Expiring Provisions
1. Increase section 179 expensing from $25,000 to
$100,000 and increase the phaseout threshold amount
from $200,000 to $400,000; include software in section
179 property; and extend indexing of both the deduction
limit and the phaseout threshold (sunset 12/31/09) tyba 12/31/07
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
--- --- -2,605 -4,459 -209 2,707 1,772 1,222 826 476 -7,274 -271
2. Credit for elective deferrals and IRA contributions
(sunset 12/31/09) tyba 12/31/06
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
--- -481 -1,428 -1,318 -842 -15 -16 -15 -15 -15 -4,068 -4,144
3. Deduction for qualified tuition and related expenses
(sunset 12/31/09) pmi tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-336 -1,707 -1,831 -1,916 -1,604 --- --- --- ---- --- -7,394 -7,394
4. Extend and modify the new markets tax credit tyba 12/31/07 &
(sunset 12/31/08) DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
--- --- -108 -168 -170 -192 -205 -202 -202 -77 -445 -1,322
5. Deduction of State and local general sales taxes
(sunset 12/31/07) [2] tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-665 -2,608 -1,947 -310 --- --- --- --- --- --- -5,530 -5,530
6. Increase individual AMT exemption amount for 2006 to
$42,500 ($ 62,550 joint) (sunset 12/31/06) tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-6,209 -24,838 --- --- --- --- --- --- --- --- -31,047 -31,047
7. Treatment of nonrefundable personal credits
under the individual alternative minimum tax
(sunset 12/31/07) [3] tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-573 -2,936 -2,580 --- --- --- --- --- --- --- -6,089 -6,089
8. Extend and modify the research credit tyba 12/31/05 &
(sunset 12/31/07) tyea 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-2,847 -6,744 -4,880 -2,664 -1,901 -974 -202 --- --- --- -19,036 -20,212
9. Combine and expand work opportunity tax credit
and welfare- to- work tax credit (sunset 12/31/07) wpoifibwa 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-154 -412 -387 -186 -91 -52 -22 -4 [4] --- -1,230 -1,309
10. Extension and modification of qualified zone
academy bonds (sunset 12/31/07) bia 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-2 -8 -19 -31 -36 -37 -37 -37 -37 -37 -96 -281
11. Extension of enhanced deduction for qualified
computer contributions (sunset for taxable years
beginning after 12/31/07) cmd tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-66 -132 -62 --- --- --- --- --- --- --- -260 -260
12. Above-the-line deduction for teacher classroom
expenses capped at $250 annually (sunset
12/31/07) epoii tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-40 -200 -164 --- --- --- --- --- --- --- -404 -404
13. Extend and expand to petroleum products the
expensing of "Brownfields" environmental
remediation costs (sunset 12/31/07) epoia 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-197 -377 -124 45 52 53 47 42 36 31 -600 -390
14. Tax incentives for investment in the District of
Columbia (sunset 12/31/06) tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-43 -26 -3 -2 -5 -13 -47 -23 -21 -23 -79 -207
15. Indian employment tax credit (sunset 12/31/07) tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-18 -53 -40 -11 -1 --- --- --- --- --- -123 -123
16. Accelerated depreciation for business property
on Indian reservation (sunset 12/31/07) ppisa 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-160 -441 -386 -82 99 197 218 151 59 -4 -970 -350
17. 15-year recovery of certain leasehold improvements
and restaurant improvements (sunset 12/31/07) ppisa 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-69 -270 -463 -519 -508 -484 -456 -453 -457 -444 -1,828 -4,121
18. Extension of full credit for qualified electric vehicles
(sunset 12/31/07) tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-3 -5 -1 [4] [4] [4] [4] [4] [4] --- -9 -8
Total of Extension of Expiring Provisions
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10
-11,382 -41,238 -17,028 -11,621 -5,216 1,190 1,052 681 189 -93 -86,482
2006-15
-83,462
II. Provisions Relating to Charitable Donations
A. Charitable Giving Incentives
1. Provide charitable contribution deduction for
nonitemizers with cash contributions in excess of
$210 ($ 420 joint); disallow charitable contributions
by itemizers which are less than or equal to $210 cmi tyba 12/31/05 &
($420 joint) tybb 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-14 -44 56 --- --- --- --- --- --- --- -2 -2
2. Tax- free distributions from IRAs for charitable
purposes - taxpayer must have attained age 70-1/2 for
contributions made directly to a charitable organization
and age 59-1/2 for contributions to a split-interest tyba 12/31/05 &
entity; modify return requirements for certain trusts tybb 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-107 -212 -121 -39 -47 -64 -78 -79 -83 -84 -526 -914
3. Extend present- law section 170(e)(3) deduction for
food inventory to all businesses and provide
special basis rule for certain taxpayers; modify the
enhanced deduction for charitable contributions of
donations of food inventory to equal the lesser of cmi tyba 12/31/05 &
the item's fair market value or twice basis tybb 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-71 -180 -93 -25 --- --- --- --- --- --- -369 -369
4. Adjustment to basis of S corporation stock for cmi tyba 12/31/05 &
certain charitable contributions tybb 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-15 -35 -22 -4 -5 -5 -5 -5 -5 -5 -81 -106
5. Enhanced charitable deduction for contributions of book cmi tyba 12/31/05 &
inventory with special fair market value rule tybb 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-7 -20 -10 -2 --- --- --- --- --- --- -39 -39
6. Modify tax treatment of certain payments to
controlling exempt organizations and require
disclosure and certification relating to UBIT [5]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-59 -20 -21 -23 -25 -15 -1 [6] 1 1 -148 -163
7. Encourage contributions of capital gain real property cmi tyba 12/31/05 &
made for conservation purposes tybb 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-11 -36 -18 -4 --- --- --- --- --- --- -69 -69
8. Enhanced deduction for certain charitable
contributions of self- created literary, musical, artistic,
and scholarly compositions (sunset 12/31/07) cma 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-5 -21 -18 --- --- --- --- --- --- --- -44 -44
9. Certain mileage reimbursements to charitable tyba 12/31/05
volunteers excluded from gross income & before 1/1/08
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[4] [4] [4] --- --- --- --- --- --- --- -1 -1
10. Alternative percentage limitation for corporate
charitable contributions to the mathematics and
science partnership program (sunset 12/31/06) cmi tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-1 [4] --- --- --- --- --- --- --- --- -1 -1
B. Reforming Charitable Organizations
1. Tax involvement by exempt organizations in tax
shelter transactions [7]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
13 20 28 32 36 41 47 54 61 66 130 400
2. Apply an excise tax on certain acquisitions of
interest in insurance contracts in which certain
exempt organizations hold an interest cia 5/3/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3 7 12 17 22 28 34 40 47 54 61 264
3. Increase the amount of penalty excise taxes imposed
on public charities, social welfare organizations, and
private foundations tyba DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
2 4 4 4 4 4 4 4 5 5 18 40
4. Limitations of charitable donations of easements generally
on buildings located in registered historic districts cma 11/15/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 4 5 7 8 8 8 8 9 9 25 67
5. Modifications of rules regarding donation of taxidermy cma 11/15/05 &
and exempt use property cma 6/1/06
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[6] 2 5 5 5 5 5 5 5 6 18 43
6. Limit charitable contributions of clothing and
household items and increased substantiation required cma 12/31/06 &
for charitable contributions (receipts for all cash gifts) cmi tyba DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3 62 85 78 52 52 52 52 53 54 280 543
7. Modification of rules regarding donations of
fractional interests in tangible personal property cbagma DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 8 8 8 8 8 9 9 9 9 33 76
8. Provisions relating to substantial and gross
overstatements of valuations of charitable
deduction property:
a. Substantial and gross overstatements of
valuations of charitable deduction property [8] rfa DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[6] 1 1 1 1 1 1 1 2 2 4 11
b. Penalty on appraisers whose appraisals
result in substantial or gross valuation
misstatements; definition of qualified appraisers
and appraisals [8] rfa DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[6] [6] [6] [6] [6] [6] [6] [6] [6] [6] 1 3
9. Establish additional exemption standards for credit
counseling organizations [9]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 3 4 6 7 8 9 10 11 11 21 70
10. Expand the base of the tax on private foundation net
investment income tyba DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
12 17 18 19 19 20 21 21 22 23 85 192
11. Definition of convention or association of churches DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
12. Notification requirement for exempt entities not
currently required to file fapba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
13. Disclosure to State officials of certain tax information
related to certain section 501( c) organizations DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
14. Define donor advised fund and, in general, provide
rules relating to payouts and certain prohibited
transactions [10] generally tyba DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 2 2 2 2 2 2 2 2 2 9 20
15. Provide for prohibited transactions and additional
reporting by all supporting organizations and modify
payout, limit business holdings, and improve
accountability of Type III supporting organizations [11] generally DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3 5 5 6 6 7 7 8 8 8 26 65
Total of Provisions Relating to Charitable Donations
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-250 -433 -70 88 93 100 115 130 147 161 -569 86
III. Miscellaneous Provisions
1. Restructure New York Liberty Zone tax incentives DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
177 -85 -127 -69 -193 -37 -34 -29 -23 -20 -297 -440
2. Modification to S corporation passive investment tyba 12/31/06 &
income rules tybb 10/1/09
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-9 -74 -138 -130 -59 --- --- --- --- --- -411 -411
3. Modification to small issue bonds - accelerate effective
date for increase in capital expenditure limit bia 12/31/06
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
--- -2 -9 -15 -18 -18 -18 -18 -18 -18 -44 -136
4. Establish deduction for private mortgage insurance
(sunset 12/31/07) cia 12/31/06
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
--- -14 -77 --- --- --- --- --- --- --- -91 -91
5. Modification of certain arbitrage rules for certain funds
(include 30% State limitation) (sunset 8/31/09) bia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[4] [4] -1 -3 -2 -2 [4] --- --- --- -7 -9
6. Provide exclusion from nonqualified deferred
compensation rules for certain foreign stock option
plans [12]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-2 -4 -7 -10 -13 -15 -14 -12 -10 -6 -33 -90
7. Modification of treatment of loans to qualified
continuing care facilities lma 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[4] [4] [4] -1 -1 [4] --- --- --- --- -2 -2
8. Exclusion of gain from sale of a principal residence
by certain employees of the intelligence community soea DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[4] [4] [4] [4] [4] [4] --- --- --- --- -1 -1
9. Partial expensing for advanced mine safety equipment
(sunset 3 years after date of enactment) cpoia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-6 -8 -6 2 4 3 3 3 2 1 -14 -1
10. Mine rescue team training credit (sunset 12/31/08) tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[4] [4] -1 -1 -1 -1 -1 -1 -1 -1 -3 -8
Total of Miscellaneous Provisions
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
160 -187 -366 -227 -283 -70 -64 -57 -50 -44 -903 -1,189
IV. Revenue Offset Provisions
A. Provisions Designed to Curtail Tax Shelters
1. Understatement of taxpayer's liability by income
tax return preparer dpa DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
2. Frivolous tax submissions [13]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3 3 3 3 3 3 3 3 3 3 15 30
3. Penalty for promoting abusive tax shelters aoa DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
4. Penalty for aiding and abetting the understatement of
tax liability aoa DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
B. Economic Substance Doctrine
1. Clarification of the economic substance doctrine
and related penalty provisions teia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
391 805 1,127 1,270 1,427 1,631 1,877 2,154 2,445 2,643 5,019 15,768
2. Deny deduction for interest paid to the IRS on
underpayments involving certain tax motivated
transactions teia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
--- 1 1 3 4 4 4 4 4 4 9 29
C. Improvements in Efficiency and Safeguards in
Internal Revenue Service Collection
1. Waiver of user fee for installment agreements
using automated withdrawals aeio/a 180da DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-2 -3 -3 -3 -3 -4 -4 -4 -4 -5 -14 -35
2. Termination of installment agreements foo/a DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
3. Require partial payments with submissions of offers-
in-compromise (permanent 24-month rule) osoaa 60da DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
64 156 168 181 194 209 224 241 259 279 763 1,975
D. Penalties and Fines
1. Increase in certain criminal penalties aaftaoa DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[14] [14] [14] [14] [14] [14] [14] [14] [14] [14] 1 5
2. Double certain penalties, fines, and interest on
underpayments related to certain offshore financial
arrangements oyo/a DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 1 [14] [14] [14] [14] [14] [14] [14] [14] 5 6
3. Denial of deduction for certain fines, penalties, generally
and other amounts apoio/a DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
31 59 28 12 12 12 12 12 12 12 141 200
4. Deny deduction for punitive damages dpoio/a DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
20 31 32 33 34 35 36 37 38 39 149 333
5. Increase in penalty for bad checks and money orders comora DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3 3 3 3 3 3 3 3 3 3 15 30
E. Provisions to Discourage Expatriation
1. Tax treatment of inverted entities [15]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
182 226 140 176 213 256 313 379 413 450 937 2,748
2. Impose mark-to-market on individuals who expatriate [16]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
31 59 57 54 50 46 43 41 39 38 251 458
F. Miscellaneous Provisions
1. Change the tax treatment of contingent convertible
debt instruments diio/a DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3 34 51 61 62 57 50 46 40 36 211 440
2. Grant Treasury regulatory authority to address foreign
tax credit transactions involving inappropriate
separation of foreign taxes from related foreign income teia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[14] 1 1 2 2 2 2 2 2 2 6 16
3. Modifications of effective dates of leasing provisions
of the American Jobs Creation Act of 2004 [17]
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1,210 2,204 1,403 372 -173 -258 -148 -36 -44 -69 5,018 4,465
4. Application of earnings stripping rules to partners
which are C corporations tybo/a DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
8 23 25 27 29 31 33 35 38 41 112 290
5. Limitation of employer deduction for certain
entertainment expenses eia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 4 4 5 5 5 5 6 6 6 19 50
6. Increase in age of minor children whose unearned
income is taxed as if parent's income tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
56 145 203 219 153 204 242 260 298 349 776 2,128
7. Loan and redemption requirements on pooled
financings bia DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
18 40 42 44 46 48 50 53 56 59 190 456
8. Reporting of interest on tax-exempt bonds iea 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
[6] 2 2 2 2 3 3 3 3 3 9 24
9. Modification of credit for producing fuel from a
nonconventional source - modify section 29/45K credit
inflation adjustment and phase out rules and clarify
coke production credit qfsa 12/31/04
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
38 67 32 9 5 1 --- --- --- --- 151 152
10. Modification of individual estimated tax safe- harbor
to: 120% for tax year 2006; 110% for tax years
2007 and thereafter tyba 12/31/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
5,014 -5,014 --- --- --- --- --- --- --- --- --- ---
11. Revaluation of LIFO inventories of large integrated
oil companies tyei 2005
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
3,488 844 --- --- --- --- --- --- --- --- 4,332 4,332
12. Eliminate tax incentives for the amortization of
geological and geophysical (" G& G") costs for
integrated oil companies apoii tyba 8/8/05
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-88 18 60 65 45 37 39 37 38 40 101 292
13. Modify the treatment of employee personal use of use after
noncommercial aircraft DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 2 2 3 3 6 6 7 7 7 11 44
14. Treatment of distributions attributable to FIRPTA
gains (including application of FIRPTA to RICs,
and prevention of avoidance through wash sales) [18] various
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 3 3 3 3 3 3 3 3 3 13 28
15. Modify rules for distributions of controlled generally
corporations [19] da DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
1 2 3 4 -6 -4 7 12 14 15 4 48
16. Amortization of expenses incurred in creating or epoia 2005
acquired in obtaining music or music copyrights in tyea 2005
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
2 9 7 5 3 2 1 1 1 1 26 32
17. Credit to holders of rural renaissance bonds ($200 bia DOE &
million cap) before 1/1/10
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
-2 -6 -11 -12 -12 -12 -12 -12 -12 -12 -43 -103
18. Modify foreign tax credit rules for large integrated
oil companies that are dual capacity taxpayers tpoai tyba DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
13 69 73 77 80 84 89 93 98 100 312 776
19. Disability preference program for tax collection
contracts DOE
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-10 2006-15
Negligible Revenue Effect
Total of Revenue Offset Provisions
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
10,488 -212 3,456 2,618 2,184 2,404 2,881 3,380 3,760 4,047
2006-10 2006-15
18,539 35,017
NET TOTAL
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
-984 -42,070 -14,008 -9,142 -3,222 3,624 3,984 4,134 4,046 4,071
2006-10 2006-15
-69,415 -49,548
Joint Committee on Taxation
--------------------------------------
NOTE: Details may not add to totals due to rounding. Date of enactment is
assumed to be April 1, 2006. Provisions are estimated relative to the
Congressional Budget Office baseline of January, 2005.
Legend for "Effective" column:
aaftaoa = actions and failures to act occurring after
diio/a = debt instrument issued on or after
ppisa = property placed in service after
aeio/a agreements entered into on or after
DOE = date of enactment
qfsa = qualified fuel sold after
aoa = actions occurring after
dpa = documents prepared after
rfa = returns filed after
apoii = amounts paid or incurred in
dpoio/a = damages paid or incurred on or after
soea = sales or exchanges after
apoio/a = amounts paid or incurred on or after
eia = expenses incurred after
teia = transactions entered into after
bia = bonds issued after
epoia = expenditures paid or incurred after
tpoai = taxes paid or accrued in
cia = contracts issued after
epoii = expenses paid or incurred in
tyba = taxable years beginning after
cbagma = contributions, bequests, and gifts made after
fapba = for annual periods beginning after
tybb = taxable years beginning before
cma = contributions made after
foo/a = failures occurring on or after
tybo/a = taxable years beginning on or after
cmi = contributions made in
iea = interest earned after
tyei = taxable years ending in
comora = checks or money orders received after
lma = loans made after
wpoifibwa = wages paid or incurred for individuals
cpoia = costs paid or incurred after
osoaa = offers submitted on and after beginning work after
da = distributions after
oyo/a = open years on or after
60da = 60 days after
pmi = payments made in
180da = 180 days after
FOOTNOTES
[1] Generally, the provisions in Title I., subtitle A. of Title II., and
Title III. do not apply to taxable years beginning after September 30, 2010,
(or an earlier effective date if specifically indicated in the description or
effective date).
[2] Includes interaction with item I. 6.
[3] The "Economic Growth and Tax Relief Reconciliation Act of 2001"
provides that the child tax credit and adoption tax credit are allowed for
purposes of the alternative minimum tax for 2002 through 2010.The proposal
treats the alternative motor vehicle credit and the alternative fuel vehicle
refueling property credit as nonrefundable personal credits.
[4] Loss of less than $500,000.
[5] Generally effective for payments received or accrued after December
31, 2000, and returns filed after the date of enactment.
[6] Gain of less than $500,000.
[7] Generally effective for transactions that are prohibited after the
date of enactment, except that no tax applies with respect to income that is
properly allocable to the period ending 90 days after the date of enactment.
[8] With respect to qualified real property interests, effective for
contributions or appraisals made after December 16, 2004.
[9] Generally effective for taxable years beginning one year after the
date of enactment.
[10] Estimate includes interaction with the supporting organizations
proposal.
[11] Estimate includes interaction with the donor advised funds proposal.
[12] Effective as if included in the provision of the American Jobs
Creation Act of 2004 to which it relates.
[13] Effective for submissions made and issues raised after the first
list is prescribed under section 6702(c).
[14] Gain of less than $1 million.
[15] Effective for certain transactions substantially completed after
March 20, 2002.
[16] Generally effective for U. S. citizens who expatriate or long- term
residents who terminate their residency on or after the date of enactment.
[17] Modification to qualified transportation property effective as if
included in the provision of the American Jobs Creation Act of 2004;
modification to certain leases with foreign entities effective for taxable
years beginning after December 31, 2005.
[18] Some of the provisions sunset December 31, 2007.
[19] A portion of the provision sunsets December 31, 2009.
END OF FOOTNOTES
DOCUMENT ATTRIBUTES
- Institutional AuthorsJoint Committee on Taxation
- Cross-ReferenceFor the Senate-passed version of H.R. 4297, see Doc 2006-2562 [PDF].
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2006-2545
- Tax Analysts Electronic Citation2006 TNT 27-14
