Tax Technical Corrections Act of 2006 - Makes technical and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Increase Prevention and Reconciliation Act of 2005; (2) the Gulf Opportunity Zone Act of 2005; (3) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (4) the Energy Policy Act of 2005; (5) the American Jobs Creation Act of 2004; (6) the Jobs and Growth Tax Relief Reconciliation Act of 2003; (7) the Economic Growth and Tax Relief Reconciliation Act of 2001; (8) the Tax Relief Extension Act of 1999; and (9) the Internal Revenue Service Restructuring and Reform Act of 1998.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6264 Introduced in House (IH)]
109th CONGRESS
2d Session
H. R. 6264
To amend the Internal Revenue Code of 1986 to make technical
corrections, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 29, 2006
Mr. Thomas introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to make technical
corrections, and for other purposes.
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; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Tax Technical
Corrections Act of 2006''.
(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.
(c) Table of Contents.--The table of contents of this Act is as
follows:
Sec. 1. Short title; amendment of 1986 Code; table of contents.
Sec. 2. Amendments related to the Tax Increase Prevention and
Reconciliation Act of 2005.
Sec. 3. Amendment related to the Gulf Opportunity Zone Act of 2005.
Sec. 4. Amendments related to the Safe, Accountable, Flexible,
Efficient Transportation Equity Act: A
Legacy for Users.
Sec. 5. Amendments related to the Energy Policy Act of 2005.
Sec. 6. Amendments related to the American Jobs Creation Act of 2004.
Sec. 7. Amendment related to the Jobs and Growth Tax Relief
Reconciliation Act of 2003.
Sec. 8. Amendments related to the Economic Growth and Tax Relief
Reconciliation Act of 2001.
Sec. 9. Amendment related to the Tax Relief Extension Act of 1999.
Sec. 10. Amendment related to the Internal Revenue Service
Restructuring and Reform Act of 1998.
Sec. 11. Clerical corrections.
SEC. 2. AMENDMENTS RELATED TO THE TAX INCREASE PREVENTION AND
RECONCILIATION ACT OF 2005.
(a) Amendments Related to Section 103 of the Act.--
(1) Subparagraph (A) of section 954(c)(6) is amended--
(A) in the first sentence, by striking ``which is
not subpart F income'' and inserting ``which is neither
subpart F income nor income treated as effectively
connected with the conduct of a trade or business in
the United States'', and
(B) by striking the last sentence and inserting the
following: ``The Secretary shall prescribe such
regulations as may be necessary or appropriate to carry
out this paragraph, including such regulations as may
be necessary or appropriate to prevent the abuse of the
purposes of this paragraph.''.
(2) Paragraph (6) of section 954(c) is amended by
redesignating subparagraph (B) as subparagraph (C) and
inserting after subparagraph (A) the following new
subparagraph:
``(B) Exception.--Subparagraph (A) shall not apply
in the case of any interest, rent, or royalty to the
extent such interest, rent, or royalty creates (or
increases) a deficit which under section 952(c) may
reduce the subpart F income of the payor or another
controlled foreign corporation.''.
(b) Amendments Related to Section 202 of the Act.--
(1) Subparagraph (B) of section 355(b)(3) is amended to
read as follows:
``(B) Affiliated group rule.--
``(i) In general.--For purposes of
subparagraph (A), all members of such
corporation's separate affiliated group shall
be treated as one corporation.
``(ii) Separate affiliated group.--For
purposes of clause (i), the term `separate
affiliated group' means, with respect to any
corporation, the affiliated group which would
be determined under section 1504(a) if such
corporation were the common parent and section
1504(b) did not apply. Such term shall not
include any corporation which became a member
of--
``(I) such separate affiliated
group (determined without regard to
this sentence), or
``(II) any other separate
affiliated group (determined without
regard to this sentence) which includes
any other corporation to which
subparagraph (A) applies with respect
to the same distribution,
during the 5-year period described in paragraph
(2)(B) by reason of one or more transactions in
which gain or loss was recognized in whole or
in part (and shall not include any trade or
business conducted by such corporation at the
time it became such a member).''.
(2) Paragraph (3) of section 355(b) is amended by adding at
the end the following new subparagraph:
``(E) Regulations.--The Secretary shall prescribe
regulations which provide for the proper application of
subparagraphs (B), (C), and (D) of paragraph (2) with
respect to distributions to which this paragraph
applies.''.
(c) Amendments Related to Section 515 of the Act.--Paragraph (2) of
section 911(f) is amended--
(1) by striking ``the tentative minimum tax under section
55'' in the matter preceding subparagraph (A) and inserting
``the amount determined under the first sentence of section
55(b)(1)(A)(i)'', and
(2) by striking ``the amount which would be such tentative
minimum tax'' each place it appears in subparagraphs (A) and
(B) and inserting ``the amount which would be determined under
such sentence''.
(d) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the Tax Increase Prevention
and Reconciliation Act of 2005 to which they relate.
SEC. 3. AMENDMENT RELATED TO THE GULF OPPORTUNITY ZONE ACT OF 2005.
(a) Amendment Related to Section 303 of the Act.--Clause (iii) of
section 903(d)(2)(B) of the American Jobs Creation Act of 2004, as
amended by section 303 of the Gulf Opportunity Zone Act of 2005, is
amended by inserting ``or the Secretary's delegate'' after ``The
Secretary of the Treasury''.
(b) Effective Date.--The amendment made by this section shall take
effect as if included in section 303 of the Gulf Opportunity Zone Act
of 2005.
SEC. 4. AMENDMENTS RELATED TO THE SAFE, ACCOUNTABLE, FLEXIBLE,
EFFICIENT TRANSPORTATION EQUITY ACT: A LEGACY FOR USERS.
(a) Amendments Related to Section 11113 of the Act.--Paragraph (3)
of section 6427(i) is amended--
(1) by inserting ``or under subsection (e)(2) by any person
with respect to an alternative fuel (as defined in section
6426(d)(2))'' after ``section 6426'' in subparagraph (A),
(2) by inserting ``or (e)(2)'' after ``subsection (e)(1)''
in subparagraphs (A)(i) and (B), and
(3) by inserting ``and alternative fuel credit'' after
``mixture credit'' in the heading thereof.
(b) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the SAFETEA-LU to which they
relate.
SEC. 5. AMENDMENTS RELATED TO THE ENERGY POLICY ACT OF 2005.
(a) Amendment Related to Section 1306 of the Act.--Paragraph (2) of
section 45J(b) is amended to read as follows:
``(2) Amount of national limitation.--The aggregate amount
of national megawatt capacity limitation allocated by the
Secretary under paragraph (3) shall not exceed 6,000
megawatts.''.
(b) Amendment Related to Section 1342 of the Act.--So much of
subsection (b) of section 30C as precedes paragraph (1) thereof is
amended to read as follows:
``(b) Limitation.--The credit allowed under subsection (a) with
respect to all alternative fuel vehicle refueling property placed in
service by the taxpayer during the taxable year at a location shall not
exceed--''.
(c) Amendments Related to Section 1351 of the Act.--
(1) Paragraph (3) of section 41(a) is amended by inserting
``for energy research'' before the period at the end.
(2) Paragraph (6) of section 41(f) is amended by adding at
the end the following new subparagraph:
``(E) Energy research.--The term `energy research'
does not include any research which is not qualified
research.''.
(d) Amendments Related to Section 1362 of the Act.--
(1)(A) Paragraph (1) of section 4041(d) is amended by
adding at the end the following new sentence: ``No tax shall be
imposed under the preceding sentence on the sale or use of any
liquid if tax was imposed with respect to such liquid under
section 4081 at the Leaking Underground Storage Tank Trust Fund
financing rate.''.
(B) Paragraph (3) of section 4042(b) is amended to read as
follows:
``(3) Exception for fuel on which leaking underground
storage tank trust fund financing rate separately imposed.--The
Leaking Underground Storage Tank Trust Fund financing rate
under paragraph (2)(B) shall not apply to the use of any fuel
if tax was imposed with respect to such fuel under section
4041(d) or 4081 at the Leaking Underground Storage Tank Trust
Fund financing rate.''.
(C) Notwithstanding section 6430 of the Internal Revenue
Code of 1986, a refund, credit, or payment may be made under
subchapter B of chapter 65 of such Code for taxes imposed with
respect to any liquid after September 30, 2005, and before the
date of the enactment of this Act under section 4041(d)(1) or
4042 of such Code at the Leaking Underground Storage Tank Trust
Fund financing rate to the extent that tax was imposed with
respect to such liquid under section 4081 at the Leaking
Underground Storage Tank Trust Fund financing rate.
(2)(A) Paragraph (5) of section 4041(d) is amended--
(i) by striking ``(other than with respect to any
sale for export under paragraph (3) thereof)'', and
(ii) by adding at the end the following new
sentence: ``The preceding sentence shall not apply with
respect to subsection (g)(3) and so much of subsection
(g)(1) as relates to vessels (within the meaning of
section 4221(d)(3)) employed in foreign trade or trade
between the United States and any of its possessions.''
(B) Section 4082 is amended--
(i) by striking ``(other than such tax at the
Leaking Underground Storage Tank Trust Fund financing
rate imposed in all cases other than for export)'' in
subsection (a), and
(ii) by redesignating subsections (f) and (g) as
subsections (g) and (h) and by inserting after
subsection (e) the following new subsection:
``(f) Exception for Leaking Underground Storage Tank Trust Fund
Financing Rate.--
``(1) In general.--Subsection (a) shall not apply to the
tax imposed under section 4081 at the Leaking Underground
Storage Tank Trust Fund financing rate.
``(2) Exception for export, etc.--Paragraph (1) shall not
apply with respect to any fuel if the Secretary determines that
such fuel is destined for export or for use by the purchaser as
supplies for vessels (within the meaning of section 4221(d)(3))
employed in foreign trade or trade between the United States
and any of its possessions.''.
(C) Subsection (e) of section 4082 is amended--
(i) by striking ``an aircraft, the rate of tax
under section 4081(a)(2)(A)(iii) shall be zero.'' and
inserting ``an aircraft--
``(1) the rate of tax under section 4081(a)(2)(A)(iii)
shall be zero, and
``(2) if such aircraft is employed in foreign trade or
trade between the United States and any of its possessions, the
increase in such rate under section 4081(a)(2)(B) shall be
zero.''; and
(ii) by moving the last sentence flush with the
margin of such subsection (following the paragraph (2)
added by clause (i)).
(D) Section 6430 is amended to read as follows:
``SEC. 6430. TREATMENT OF TAX IMPOSED AT LEAKING UNDERGROUND STORAGE
TANK TRUST FUND FINANCING RATE.
``No refunds, credits, or payments shall be made under this
subchapter for any tax imposed at the Leaking Underground Storage Tank
Trust Fund financing rate, except in the case of fuels--
``(1) which are exempt from tax under section 4081(a) by
reason of section 4081(f)(2),
``(2) which are exempt from tax under section 4041(d) by
reason of the last sentence of paragraph (5) thereof, or
``(3) with respect to which the rate increase under section
4081(a)(2)(B) is zero by reason of section 4082(e)(2).''.
(3) Paragraph (5) of section 4041(d) is amended by
inserting ``(b)(1)(A)'' after ``subsections''.
(e) Effective Date.--
(1) In general.--Except as otherwise provided in this
subsection, the amendments made by this section shall take
effect as if included in the provisions of the Energy Policy
Act of 2005 to which they relate.
(2) Nonapplication of exemption for off-highway business
use.--The amendment made by subsection (d)(3) shall apply to
fuel sold for use or used after the date of the enactment of
this Act.
(3) Amendment made by the safetea-lu.--The amendment made
by subsection (d)(2)(C)(ii) shall take effect as if included in
section 11161 of the SAFETEA-LU.
SEC. 6. AMENDMENTS RELATED TO THE AMERICAN JOBS CREATION ACT OF 2004.
(a) Amendments Related to Section 710 of the Act.--
(1) Clause (ii) of section 45(c)(3)(A) is amended by
striking ``which is segregated from other waste materials
and''.
(2) Subparagraph (B) of section 45(d)(2) is amended by
inserting ``and'' at the end of clause (i), by striking clause
(ii), and by redesignating clause (iii) as clause (ii).
(b) Amendments Related to Section 848 of the Act.--
(1) Section 470 is amended by redesignating subsections
(e), (f), and (g) as subsections (f), (g), and (h) and by
inserting after subsection (d) the following new subsection:
``(e) Exception for Certain Partnerships.--
``(1) In general.--In the case of any property which would
(but for this subsection) be tax-exempt use property solely by
reason of section 168(h)(6), such property shall not be treated
as tax-exempt use property for purposes of this section for any
taxable year of the partnership if--
``(A) such property is not property of a character
subject to the allowance for depreciation,
``(B) any credit is allowable under section 42 or
47 with respect to such property, or
``(C) except as provided in regulations prescribed
by the Secretary under subsection (h)(4), the
requirements of paragraphs (2) and (3) are met with
respect to such property for such taxable year.
``(2) Availability of funds.--
``(A) In general.--The requirement of this
paragraph is met for any taxable year with respect to
any property owned by the partnership if (at all times
during the taxable year) not more than the allowable
partnership amount of funds are--
``(i) subject to any arrangement referred
to in subparagraph (C), or
``(ii) set aside or expected to be set
aside,
to or for the benefit of any taxable partner of the
partnership or any lender, or to or for the benefit of
any tax-exempt partner of the partnership to satisfy
any obligation of such tax-exempt partners to the
partnership, any taxable partner of the partnership, or
any lender.
``(B) Allowable partnership amount.--For purposes
of this subsection, the term `allowable partnership
amount' means, as of any date, the greater of--
``(i) the sum of--
``(I) 20 percent of the sum of the
taxable partners' capital accounts
determined as of such date under the
rules of section 704(b), plus
``(II) 20 percent of the sum of the
taxable partners' share of the recourse
liabilities of the partnership as
determined under section 752, or
``(ii) 20 percent of the aggregate debt of
the partnership as of such date.
``(iii) No allowable partnership amount for
arrangements outside the partnership.--The
allowable partnership amount shall be zero with
respect to any set aside or arrangement under
which any of the funds referred to in
subparagraph (A) are not partnership property.
``(C) Arrangements.--The arrangements referred to
in this subparagraph include a loan by a tax-exempt
partner or the partnership to any taxable partner, the
partnership, or any lender and any arrangement referred
to in subsection (d)(1)(B).
``(D) Special rules.--
``(i) Exception for short-term funds.--
Funds which are set aside, or subject to any
arrangement, for a period of less than 12
months shall not be taken into account under
subparagraph (A). Except as provided by the
Secretary, all related set asides and
arrangements shall be treated as 1 arrangement
for purposes of this clause.
``(ii) Economic relationship test.--Funds
shall not be taken into account under
subparagraph (A) if such funds--
``(I) bear no connection to the
economic relationships among the
partners, and
``(II) bear no connection to the
economic relationships among the
partners and the partnership.
``(iii) Reasonable person standard.--For
purpose of subparagraph (A)(ii), funds shall be
treated as set aside or expected to be set
aside only if a reasonable person would
conclude, based on the facts and circumstances,
that such funds are set aside or expected to be
set aside.
``(3) Option to purchase.--
``(A) In general.--The requirement of this
paragraph is met for any taxable year with respect to
any property owned by the partnership if (at all times
during such taxable year)--
``(i) each tax-exempt partner does not have
an option to purchase (or compel distribution
of) such property or any direct or indirect
interest in the partnership at any time other
than at the fair market value of such property
or interest at the time of such purchase or
distribution, and
``(ii) the partnership and each taxable
partner does not have an option to sell (or
compel distribution of) such property or any
direct or indirect interest in the partnership
to a tax-exempt partner at any time other than
at the fair market value of such property or
interest at the time of such sale or
distribution.
``(B) Option for determination of fair market
value.--Under regulations prescribed by the Secretary,
a value of property determined on the basis of a
formula shall be treated for purposes of subparagraph
(A) as the fair market value of such property if such
value is determined on the basis of objective criteria
that are reasonably designed to approximate the fair
market value of such property at the time of the
purchase, sale, or distribution, as the case may be.''.
(2) Subsection (g) of section 470, as redesignated by
paragraph (1), is amended by adding at the end the following
new paragraphs:
``(5) Tax-exempt partner.--The term `tax-exempt partner'
means, with respect to any partnership, any partner of such
partnership which is a tax-exempt entity within the meaning of
section 168(h)(6).
``(6) Taxable partner.--The term `taxable partner' means,
with respect to any partnership, any partner of such
partnership which is not a tax-exempt partner.''.
(3) Subsection (h) of section 470, as redesignated by
paragraph (1), is amended--
(A) by striking ``, and'' at the end of paragraph
(1) and inserting ``or owned by the same
partnership,'',
(B) by striking the period at the end of paragraph
(2) and inserting a comma, and
(C) by adding at the end the following new
paragraphs:
``(3) provide for the application of this section to tiered
and other related partnerships, and
``(4) provide for the treatment of partnership property
(other than property described in subsection (e)(1)(A)) as tax-
exempt use property if such property is used in an arrangement
which is inconsistent with the purposes of this section
determined by taking into account one or more of the following
factors:
``(A) A tax-exempt partner maintains physical
possession or control or holds the benefits and burdens
of ownership with respect to such property.
``(B) There is insignificant equity investment in
such property by any taxable partner.
``(C) The transfer of such property to the
partnership does not result in a change in use of such
property.
``(D) Such property is necessary for the provision
of government services.
``(E) The deductions for depreciation with respect
to such property are allocated disproportionately to
one or more taxable partners relative to such partner's
risk of loss with respect to such property or to such
partner's allocation of other partnership items.
``(F) Such other factors as the Secretary may
determine.''.
(4) Paragraph (2) of section 470(c) is amended--
(A) by striking ``and'' at the end of subparagraph
(A), by redesignating subparagraph (B) as subparagraph
(C), and by inserting after subparagraph (A) the
following new subparagraph:
``(B) by treating the entire property as tax-exempt
use property if any portion of such property is treated
as tax-exempt use property by reason of paragraph (6)
thereof.'', and
(B) by striking the flush sentence at the end.
(5) Subparagraph (A) of section 470(d)(1) is amended by
striking ``(at any time during the lease term)'' and inserting
``(at all times during the lease term)''.
(c) Amendments Related to Section 888 of the Act.--
(1) Subparagraph (A) of section 1092(a)(2) is amended by
striking ``and'' at the end of clause (ii), by redesignating
clause (iii) as clause (iv), and by inserting after clause (ii)
the following new clause:
``(iii) if the application of clause (ii)
does not result in an increase in the basis of
any offsetting position in the identified
straddle, the basis of each of the offsetting
positions in the identified straddle shall be
increased in a manner which--
``(I) is reasonable, consistent
with the purposes of this paragraph,
and consistently applied by the
taxpayer, and
``(II) results in an aggregate
increase in the basis of such
offsetting positions which is equal to
the loss described in clause (ii),
and''.
(2)(A) Subparagraph (B) of section 1092(a)(2) is amended by
adding at the end the following flush sentence:
``A straddle shall be treated as clearly identified for
purposes of clause (i) only if such identification
includes an identification of the positions in the
straddle which are offsetting with respect other
positions in the straddle.''.
(B) Subparagraph (A) of section 1092(a)(2) is amended--
(i) by striking ``identified positions'' in clause
(i) and inserting ``positions'',
(ii) by striking ``identified position'' in clause
(ii) and inserting ``position'', and
(iii) by striking ``identified offsetting
positions'' in clause (ii) and inserting ``offsetting
positions''.
(C) Subparagraph (B) of section 1092(a)(3) is amended by
striking ``identified offsetting position'' and inserting
``offsetting position''.
(3) Paragraph (2) of section 1092(a) is amended by
redesignating subparagraph (C) as subparagraph (D) and
inserting after subparagraph (B) the following new
subparagraph:
``(C) Application to liabilities and obligations.--
Except as otherwise provided by the Secretary, rules
similar to the rules of clauses (ii) and (iii) of
subparagraph (A) shall apply for purposes of this
paragraph with respect to any position which is, or has
been, a liability or obligation.''.
(4) Subparagraph (D) of section 1092(a)(2), as redesignated
by paragraph (3), is amended by inserting ``the rules for the
application of this section to a position which is or has been
a liability or obligation, methods of loss allocation which
satisfy the requirements of subparagraph (A)(iii),'' before
``and the ordering rules''.
(d) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the American Jobs Creation
Act of 2004 to which they relate.
SEC. 7. AMENDMENT RELATED TO THE JOBS AND GROWTH TAX RELIEF
RECONCILIATION ACT OF 2003.
(a) Amendment Related to Section 302 of the Act.--Clause (ii) of
section 1(h)(11)(B) is amended by striking ``and'' at the end of
subclause (II), by striking the period at the end of subclause (III)
and inserting ``, and'', and by adding at the end the following new
subclause:
``(IV) any dividend received from a
corporation which is a DISC or former
DISC (as defined in section 992(a)) to
the extent such dividend is paid out of
the corporation's accumulated DISC
income or is a deemed distribution
pursuant to section 995(b)(1).''.
(b) Effective Date.--The amendment made by this section shall apply
to dividends received on or after September 29, 2006, in taxable years
ending after such date.
SEC. 8. AMENDMENTS RELATED TO THE ECONOMIC GROWTH AND TAX RELIEF
RECONCILIATION ACT OF 2001.
(a) Amendments Related to Section 617 of the Act.--
(1) Subclause (II) of section 402(g)(7)(A)(ii) is amended
by striking ``for prior taxable years'' and inserting
``permitted for prior taxable years by reason of this
paragraph''.
(2) Subparagraph (A) of section 3121(v)(1) is amended by
inserting ``or consisting of designated Roth contributions (as
defined in section 402A(c))'' before the comma at the end.
(b) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the Economic Growth and Tax
Relief Reconciliation Act of 2001 to which they relate.
SEC. 9. AMENDMENT RELATED TO THE TAX RELIEF EXTENSION ACT OF 1999.
(a) Amendment Related to Section 507 of the Act.--Clause (i) of
section 45(e)(7)(A) is amended by striking ``placed in service by the
taxpayer'' and inserting ``originally placed in service''.
(b) Effective Date.--The amendment made by this section shall take
effect as if included in section 507 of the Tax Relief Extension Act of
1999.
SEC. 10. AMENDMENT RELATED TO THE INTERNAL REVENUE SERVICE
RESTRUCTURING AND REFORM ACT OF 1998.
(a) Amendment Related to Section 3509 of the Act.--Paragraph (3) of
section 6110(i) is amended by inserting ``and related background file
documents'' after ``Chief Counsel advice'' in the matter preceding
subparagraph (A).
(b) Effective Date.--The amendment made by this section shall take
effect as if included in the provision of the Internal Revenue Service
Restructuring and Reform Act of 1998 to which it relates.
SEC. 11. CLERICAL CORRECTIONS.
(a) In General.--
(1) Paragraph (5) of section 21(e) is amended by striking
``section 152(e)(3)(A)'' in the flush matter after subparagraph
(B) and inserting ``section 152(e)(4)(A)''.
(2) Paragraph (3) of section 25C(c) is amended by striking
``section 3280'' and inserting ``part 3280''.
(3) Subsection (a) of section 34 is amended--
(A) in paragraph (1), by striking ``with respect to
gasoline used during the taxable year on a farm for
farming purposes'',
(B) in paragraph (2), by striking ``with respect to
gasoline used during the taxable year (A) otherwise
than as a fuel in a highway vehicle or (B) in vehicles
while engaged in furnishing certain public passenger
land transportation service'', and
(C) in paragraph (3), by striking ``with respect to
fuels used for nontaxable purposes or resold during the
taxable year''.
(4) Paragraph (2) of section 35(d) is amended--
(A) by striking ``paragraph (2) or (4) of'', and
(B) by striking ``(within the meaning of section
152(e)(1))'' and inserting ``(as defined in section
152(e)(4)(A))''.
(5) Paragraph (24) of section 38(b) is amended by striking
``and'' at the end.
(6) Paragraphs (2) and (3) of section 45L(c) are each
amended by striking ``section 3280'' and inserting ``part
3280''.
(7) Clause (ii) of section 48A(d)(4)(B) is amended by
striking ``subsection'' both places it appears.
(8) The last sentence of section 125(b)(2) is amended by
striking ``last sentence'' and inserting ``second sentence''.
(9) Subclause (II) of section 167(g)(8)(C)(ii) is amended
by striking ``section 263A(j)(2)'' and inserting ``section
263A(i)(2)''.
(10) Subparagraph (G) of section 1260(c)(2) is amended by
adding ``and'' at the end.
(11) Paragraph (2) of section 1297(a) is amended by
striking ``subsection (e)'' and inserting ``subsection (f)''.
(12) Paragraph (2) of section 1400O is amended by striking
``under of'' and inserting ``under''.
(13) The table of sections for part II of subchapter Y of
chapter 1 is amended by adding at the end the following new
item:
``Sec. 1400T. Special rules for mortgage revenue bonds.''.
(14) Subsection (b) of section 4082 is amended to read as
follows:
``(b) Nontaxable Use.--For purposes of this section, the term
`nontaxable use' means--
``(1) any use which is exempt from the tax imposed by
section 4041(a)(1) other than by reason of a prior imposition
of tax,
``(2) any use in a train, and
``(3) any use described in section 4041(a)(1)(C)(iii)(II).
The term `nontaxable use' does not include the use of kerosene in an
aircraft and such term shall not include any use described in section
6421(e)(2)(C).''.
(15) Paragraph (4) of section 4101(a) (relating to
registration in event of change of ownership) is redesignated
as paragraph (5).
(16) Paragraph (6) of section 4965(c) is amended by
striking ``section 4457(e)(1)(A)'' and inserting ``section
457(e)(1)(A)''.
(17) Subpart C of part II of subchapter A of chapter 51 is
amended by redesignating section 5432 (relating to
recordkeeping by wholesale dealers) as section 5121.
(18) Paragraph (2) of section 5732(c), as redesignated by
section 11125(b)(20)(A) of the SAFETEA-LU, is amended by
striking ``this subpart'' and inserting ``this subchapter''.
(19) Paragraph (3) of section 6427(e) (relating to
termination), as added by section 11113 of the SAFETEA-LU, is
redesignated as paragraph (5) and moved after paragraph (4).
(20) Clause (ii) of section 6427(l)(4)(A) is amended by
striking ``section 4081(a)(2)(iii)'' and inserting ``section
4081(a)(2)(A)(iii)''.
(21)(A) Section 6427, as amended by section 1343(b)(1) of
the Energy Policy Act of 2005, is amended by striking
subsection (p) and redesignating subsection (q) as subsection
(p).
(B) The Internal Revenue Code of 1986 shall be applied and
administered as if the amendments made by paragraph (2) of
section 11151(a) of the SAFETEA-LU had never been enacted.
(22)(A) Paragraph (3) of section 9002 is amended by
striking ``section 309(a)(1)'' and inserting ``section
306(a)(1)''.
(B) Paragraph (1) of section 9004(a) is amended by striking
``section 320(b)(1)(B)'' and inserting ``section
315(b)(1)(B)''.
(C) Paragraph (3) of section 9032 is amended by striking
``section 309(a)(1)'' and inserting ``section 306(a)(1)''.
(D) Subsection (b) of section 9034 is amended by striking
``section 320(b)(1)(A)'' and inserting ``section
315(b)(1)(A)''.
(23) Section 9006 is amended by striking ``Comptroller
General'' each place it appears and inserting ``Commission''.
(24) Subsection (c) of section 9503 is amended by
redesignating paragraph (7) (relating to transfers from the
trust fund for certain aviation fuels taxes) as paragraph (6).
(25) Paragraph (1) of section 1301(g) of the Energy Policy
Act of 2005 is amended by striking ``shall take effect of the
date of the enactment'' and inserting ``shall take effect on
the date of the enactment''.
(b) Clerical Amendments Related to the Gulf Opportunity Zone Act of
2005.--
(1) Amendments related to section 402 of the act.--
Subparagraph (B) of section 24(d)(1) is amended--
(A) by striking ``the excess (if any) of'' in the
matter preceding clause (i) and inserting ``the greater
of'', and
(B) by striking ``section'' in clause (ii)(II) and
inserting ``section 32''.
(2) Effective date.--The amendments made by this subsection
shall take effect as if included in the provisions of the Gulf
Opportunity Zone Act of 2005 to which they relate.
(c) Clerical Amendments Related to the Safe, Accountable, Flexible,
Efficient Transportation Equity Act: A Legacy for Users.--
(1) Amendments related to section 11163 of the act.--
Subparagraph (C) of section 6416(a)(4) is amended--
(A) by striking ``ultimate vendor'' and all that
follows through ``has certified'' and inserting
``ultimate vendor or credit card issuer has
certified'', and
(B) by striking ``all ultimate purchasers of the
vendor'' and all that follows through ``are certified''
and inserting ``all ultimate purchasers of the vendor
or credit card issuer are certified''.
(2) Effective date.--The amendments made by this subsection
shall take effect as if included in the provisions of the Safe,
Accountable, Flexible, Efficient Transportation Equity Act: A
Legacy for Users to which they relate.
(d) Clerical Amendments Related to the Energy Policy Act of 2005.--
(1) Amendment related to section 1344 of the act.--
Subparagraph (B) of section 6427(e)(5), as redesignated by
subsection (a)(19), is amended by striking ``2006'' and
inserting ``2008''.
(2) Amendments related to section 1351 of the act.--
Subparagraphs (A)(ii) and (B)(ii) of section 41(f)(1) are each
amended by striking ``qualified research expenses and basic
research payments'' and inserting ``qualified research
expenses, basic research payments, and amounts paid or incurred
to energy research consortiums,''.
(3) Effective date.--The amendments made by this subsection
shall take effect as if included in the provisions of the
Energy Policy Act of 2005 to which they relate.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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