JCT Publishes List of Expiring Tax Provisions
Summary
The Joint Committee on Taxation has published a list of expiring tax provisions for 2011 through 2012. Charitable provisions that expired on December 31, 2011 include enhanced charitable deductions for contributions of food inventory, book inventories to public schools, and corporate contributions of computer equipment for educational purposes; a basis adjustment to stock of S corporations making charitable contributions of property; and most, notably, tax-free distributions from individual retirement plans for charitable purposes.
Citation: JCX-1-12
Full Text:
LIST OF EXPIRING FEDERAL TAX PROVISIONS 2011-2022
Prepared by the Staff
of the
JOINT COMMITTEE ON TAXATION
January 6, 2012
JCX-1-12
CONTENTS
INTRODUCTION
I. FEDERAL TAX PROVISIONS EXPIRING 2011-2022
A. Provisions Expiring in 2011
B. Provisions Expiring in 2012
C. Provisions Expiring in 2013
D. Provisions Expiring in 2014
E. Provisions Expiring in 2016
F. Provisions Expiring in 2017
G. Provisions Expiring in 2018
H. Provisions Expiring in 2020
II. TEMPORARY DISASTER RELIEF FEDERAL TAX PROVISIONS EXPIRING
2011-2022
A. Temporary Disaster Relief Federal Tax Provisions Expiring
in 2011
B. Temporary Disaster Relief Federal Tax Provisions Expiring
in 2012
C. Temporary Disaster Relief Federal Tax Provisions Expiring
in 2013
This document,1 prepared by the staff of the Joint Committee on Taxation, provides a listing of Federal tax provisions (other than those providing time-limited transition relief after the repeal of an underlying rule) that are currently scheduled to expire in 2011-2022 (with references to the applicable section of the Internal Revenue Code of 1986 or other applicable law). Expiring Federal tax provisions providing temporary disaster relief are separately listed in Part II of the document.
For purposes of compiling this list, the staff of the Joint Committee on Taxation considers a provision to be expiring if, at a statutorily specified date, the provision expires completely or reverts to the law in effect before the present-law version of the provision. Certain provisions terminate on dates that refer to a taxpayer's taxable year and not a calendar year. For these provisions, the expiration dates listed in this document apply with respect to calendar year taxpayers. The expiration dates of such provisions may differ, however, with respect to fiscal year taxpayers or taxpayers with short taxable years. Years in which there are no expiring provisions are not listed in the document.
I. FEDERAL TAX PROVISIONS2 EXPIRING 2011-2022
A. Provisions Expiring in 2011
_____________________________________________________________________
Provision (Code section) Expiration Date
_____________________________________________________________________
1. First-time homebuyer credit for 4/30/113
individuals 4/30/11(3) on qualified
official extended duty outside the United
States (sec. 36(h)(3))
2. Federal Unemployment Tax Act ("FUTA") 6/30/11
6/30/11 surtax of 0.2 percent (sec.
3301(1))
3. Credit for certain nonbusiness energy 12/31/211
12/31/11 property (sec. 25C(g))
4. Personal tax credits allowed against 12/31/11
regular 12/31/11 tax and alternative
minimum tax ("AMT") (sec. 26(a)(2))
5. Credit for electric drive motorcycles, 12/31/11
three-12/31/11 wheeled vehicles, and
low-speed vehicles (sec. 30(f))
6. Conversion credit for plug-in electric 12/31/11
12/31/11 vehicles (sec. 30B(i)(4))
7. Alternative fuel vehicle refueling 12/31/114
property 12/31/11(4) (non-hydrogen
refueling property) (sec. 30C(g)(2))
8. Expansion of adoption credit and adoption 12/31/11
assistance programs (secs. 36C and 137
and sec. 10909(c) of Pub. L. No. 111-148
as amended by section 101(b) of Pub. L.
No. 111-312)
9. Incentives for alcohol fuels
a. Alcohol fuels income tax credit 12/31/11
(alcohol fuel, alcohol used to produce a
qualified mixture, and small ethanol
producers) (secs. 40(e)(1)(A), (h)(1),
and (h)(2))
b. Alcohol fuel mixture excise tax credit 12/31/11
and outlay payments (secs. 6426(b)(6) and
6427(e)(6)(A))
10. Incentives for biodiesel and renewable
diesel:
a. Income tax credits for biodiesel fuel, 12/31/11
biodiesel used to produce a qualified
mixture, and small agri-biodiesel
producers (sec. 40A)
b. Income tax credits for renewable 12/31/11
diesel fuel and renewable diesel used to
produce a qualified mixture (sec. 40A)
c. Excise tax credits and outlay payments 12/31/11
for biodiesel fuel mixtures (secs.
6426(c)(6) and 6427(e)(6)(B))
d. Excise tax credits and outlay payments 12/31/11
for renewable diesel fuel mixtures (secs.
6426(c)(6) and 6427(e)(6)(B))
11. Tax credit for research and 12/31/11
experimentation expenses (sec.
41(h)(1)(B))
12. Placed-in-service date for facilities 12/31/11
eligible to claim the refined coal
production credit (other than refined
coal facilities that produce steel
industry fuel) (sec. 45(d)(8))
13. Indian employment tax credit (sec. 12/31/11
45A(f))
14. New markets tax credit (sec. 45D(f)(1)) 12/31/11
15. Credit for certain expenditures for 12/31/11
maintaining railroad tracks (sec. 45G(f))
16. Credit for construction of new energy 12/31/11
efficient homes (sec. 45L(g))
17. Credit for energy efficient appliances 12/31/11
(sec. 45M(b))
18. Mine rescue team training credit (sec. 12/31/11
45N)
19. Employer wage credit for activated 12/31/11
military reservists (sec. 45P)
20. Grants for specified energy property in 12/31/11
lieu of tax credits (sec. 48(d) and sec.
1603 of Pub. L. No. 111-5)
21. Work opportunity tax credit (sec. 12/31/115
51(c)(4))
22. Qualified zone academy bonds: allocation 12/31/11
of bond limitation (sec. 54E(c)(1))
23. Increased AMT exemption amount (sec. 12/31/11
55(d)(1))
24. Deduction for certain expenses of 12/31/11
elementary and secondary school teachers
(sec. 62(a)(2)(D))
25. Parity for exclusion from income for 12/31/11
employer-provided mass transit and
parking benefits (sec. 132(f))
26. Treatment of military basic housing 12/31/11
allowances under low-income housing
credit (sec. 142(d))
27. Premiums for mortgage insurance 12/31/11
deductible as interest that is qualified
residence interest (sec. 163(h)(3))
28. Deduction for State and local general 12/31/11
sales taxes (sec. 164(b)(5))
29. 15-year straight-line cost recovery for 12/31/11
qualified leasehold improvements,
qualified restaurant buildings and
improvements, and qualified retail
improvements (secs. 168(e)(3)(E)(iv), (v),
(ix), 168(e)(7)(A)(i) and (e)(8))
30. Seven-year recovery period for 12/31/11
motorsports entertainment complexes (sec.
168(i)(15) and 168(e)(3)(C)(ii))
31. Accelerated depreciation for business 12/31/11
property on an Indian reservation (sec.
168(j)(8))
32. Additional first-year depreciation for 12/31/116
100 percent of basis of qualified
property (sec. 168(k)(5))
33. Special rules for contributions of 12/31/11
capital gain real property made for
conservation purposes (secs. 170(b)(1)(E)
and 170(b)(2)(B))
34. Enhanced charitable deduction for 12/31/11
contributions of food inventory (sec.
170(e)(3)(C))
35. Enhanced charitable deduction for 12/31/11
contributions of book inventories to public
schools (sec. 170(e)(3)(D))
36. Enhanced charitable deduction for 12/31/11
corporate contributions of computer
equipment for educational purposes (sec.
170(e)(6))
37. Increase in expensing to 12/31/117
$500,000/$2,000,000 and expansion of
definition of section 179 property (secs.
179(b)(1) and (2) and 179(f))
38. Election to expense advanced mine safety 12/31/11
equipment (sec. 179E(a))
39. Special expensing rules for certain film 12/31/11
and television productions (sec. 181(f))
40. Expensing of "brownfields" environmental 12/31/11
remediation costs (sec. 198(h))
41. Deduction allowable with respect to 12/31/11
income attributable to domestic production
activities in Puerto Rico (sec. 199(d)(8))
42. Above-the-line deduction for qualified 12/31/11
tuition and related expenses (sec. 222(e))
43. Tax-free distributions from individual 12/31/11
retirement plans for charitable purposes
(sec. 408(d)(8))
44. Special rule for sales or dispositions 12/31/11
to implement Federal Energy Regulatory
Commission ("FERC") or State electric
restructuring policy (sec. 451(i))
45. Modification of tax treatment of certain 12/31/11
payments to controlling exempt
organizations (sec. 512(b)(13)(E))
46. Suspension of 100 percent-of-net-income 12/31/11
limitation on percentage depletion for oil
and gas from marginal wells (sec.
613A(c)(6)(H)(ii))
47. Treatment of certain dividends of 12/31/11
regulated investment companies ("RICs")
(secs. 871(k)(1)(C) and (2)(C), and
881(e)(1)(A) and (2))
48. RIC qualified investment entity 12/31/11
treatment under the Foreign Investment in
Real Property Tax Act ("FIRPTA") (sec.
897(h)(4))
49. Exceptions under subpart F for active 12/31/11
financing income (secs. 953(e)(10) and
954(h)(9))
50. Look-through treatment of payments 12/31/11
between related controlled foreign
corporations under the foreign personal
holding company rules (sec. 954(c)(6))
51. Special rules for qualified small 12/31/11
business stock (sec. 1202(a)(4))
52. Basis adjustment to stock of S 12/31/11
corporations making charitable
contributions of property (sec. 1367(a))
53. Reduction in S corporation recognition 12/31/11
period for built-in gains tax (sec.
1374(d)(7))
54. Empowerment zone tax incentives:8
a. Designation of an empowerment zone and 12/31/11
of additional empowerment zones (secs.
1391(d)(1)(A)(i) and (h)(2))
b. Increased exclusion of gain 12/31/11
(attributable to periods through
12/31/16) on the sale of qualified
business stock of an empowerment zone
business (secs. 1202(a)(2) and
1391(d)(1)(A)(i))
c. Empowerment zone tax-exempt bonds 12/31/11
(secs. 1394 and 1391(d)(1)(A)(i))
d. Empowerment zone employment credit 12/31/11
(secs. 1396 and 1391(d)(1)(A)(i))
e. Increased expensing under sec. 179 12/31/11
(secs. 1397A and 1391(d)(1)(A)(i))
f. Nonrecognition of gain on rollover of 12/31/11
empowerment zone investments (secs. 1397B
and 1391(d)(1)(A)(i))
55. Tax incentives for investment in the
District of Columbia ("DC"):
a. Designation of DC Zone, employment tax 12/31/11
credit, and additional expensing (sec.
1400(f)(1))
b. DC Zone tax-exempt bonds (sec. 12/31/11
1400A(b))
c. Acquisition date for eligibility for 12/31/11
zero percent capital gains rate for
investment in DC for gains through
12/31/16 (secs. 1400B(b)(2)(A)(i),
(b)(3)(A), (b)(4)(A)(i), (b)(4)(B)(i)(I),
(e)(2), and (g)(2))
d. Tax credit for first-time DC 12/31/11
homebuyers (sec. 1400C(i))
56. Definition of gross estate for RIC stock 12/31/11
owned by a nonresident not a citizen of the
United States (sec. 2105(d))
57. Disclosure of prisoner return 12/31/11
information to certain prison officials
(sec. 6103(k)(10))
58. Incentives for alternative fuel and
alternative fuel mixtures (other than
liquefied hydrogen):9
a. Excise tax credits and outlay payments 12/31/11
for alternative fuel (secs. 6426(d)(5)
and 6427(e)(6)(C))
b. Excise tax credits and outlay payments 12/31/11
for alternative fuel mixtures (secs.
6426(e)(3) and 6427(e)(6)(C))
59. Temporary increase in limit on cover 12/31/11
over of rum excise tax revenues (from
$10.50 to $13.25 per proof gallon) to
Puerto Rico and the Virgin Islands (sec.
7652(f))
60. American Samoa economic development 12/31/11
credit (sec. 119 of Pub. L. No. 109-432 as
amended by sec. 756 of Pub. L. No. 111-
312)
_____________________________________________________________________
B. Provisions Expiring in 2012
_____________________________________________________________________
1. Airport and Airway Trust Fund excise
taxes:
a. All but 4.3 cents-per-gallon of taxes 1/31/1210
on noncommercial aviation kerosene and
noncommercial aviation gasoline (sec.
4081(d)(2)(B))
b. Domestic and international air 1/31/12
passenger ticket taxes (sec.
4261(j)(1)(A)(ii))
c. Air cargo tax (sec. 4271(d)(1)(A)(ii)) 1/31/12
2. Temporary payroll tax cut (sec. 101 of 2/29/12
Pub. L. No. 112-78)
3. Highway Trust Fund excise tax rates:
a. All but 4.3 cents-per-gallon of the 3/31/1211
taxes on highway gasoline, diesel fuel,
kerosene, and alternative fuels (secs.
4041(a) and 4081(d)(1))
b. Reduced rate of tax on partially 3/31/1212
exempt methanol or ethanol fuel (sec.
4041(m))
c. Tax on retail sale of heavy highway 3/31/12
vehicles (sec. 4051(c))
d. Tax on heavy truck tires (sec. 3/31/12
4071(d))
e. Annual use tax on heavy highway 9/30/12
vehicles (sec. 4481(f))
4. Leaking Underground Storage Tank Trust 3/31/12
Fund financing rate (secs. 4041(d)(4) and
4081(d)(3))
5. Qualified green buildings and sustainable 9/30/12
design project bonds (sec. 142(l)(8))
6. Increase of the size of 15 percent rate 12/31/1213
bracket for married filers to double that of
unmarried filers (sec. 1(f)(8) and sec. 901
of Pub. L. No. 107-16)
7. Reduced capital gain rates for 12/31/1214
individuals (secs. 1(h), 55(b), 57(a)(7),
1445(e)(1), 7518(g)(6)(A) and sec. 303 of
Pub. L. No. 108-27)
8. Dividends of individuals taxed at capital 12/31/1215
gain rates (secs. 1(h)(11), 163(d)(4)(B),
854(a) and (b), and 857(c) and sec. 303 of
Pub. L. No. 108-27)
9. Ten percent individual income tax rate 12/31/12
(sec. 1(i) and sec. 901 of Pub. L. No. 107-
16)
10. Reduction in other individual income tax 12/31/12
rates: size of 15 percent rate bracket
modified to reflect 10 percent rate, and 28
percent, 31 percent, 36 percent, and 39.6
percent rates are reduced to 25 percent,
28 percent, 33 percent, and 35 percent,
respectively (sec. 1(i)(2) and sec. 901 of
Pub. L. No. 107-16)
11. Dependent care credit: increase of 12/31/12
dollar limit on creditable expenses from
$2,400 to $3,000 ($4,800 to $6,000 for
two or more children), increase of
applicable credit percentage from 30 to
35 percent, increase of beginning point
of phase-out range from $10,000 to
$15,000 (secs. 21(a)(2) and 21(c) and
sec. 901 of Pub. L. No. 107-16)
12. Adoption credit and adoption assistance 12/31/12
exclusion: increase to $10,000 for
maximum credit and maximum exclusion,
special needs adoptions deemed to have
$10,000 eligible expenses for purposes of
credit and exclusion, increase the beginning
and ending points of phase-out range for
credit and exclusion, allow the credit
against AMT (secs. 23 and 137 and sec.
901 of Pub. L. No. 107-16)
13. Child credit: increase from $500 to 12/31/12
$1,000, expand eligibility for refundable
portion of the credit, AMT relief,
provide that child credit not treated as
income or resources for purposes of
benefit or assistance programs financed
in whole or in part with Federal funds
(secs. 24(a), (b)(3), and (d) and secs.
203 and 901 of Pub. L. No. 107-16)
14. American opportunity tax credit (sec. 12/31/12
25A(i))
15. Earned income tax credit ("EITC"): 12/31/12
increase in the beginning point of the
phase-out range for joint returns,
modification of EITC treatment of amounts
not includible in income, repeal of
reduction of EITC for AMT liability,
expansion of math error authority (secs.
32(b)(2), (c)(2)(A)(i), (h), and 6213(g)(2)
and sec. 901 of Pub. L. No. 107-16)
16. Earned income tax credit:
a. Credit percentage of 45 percent for 12/31/12
three or more qualifying children (sec.
32(b)(3)(A))
b. Phaseout threshold for marriage 12/31/12
penalty relief (sec. 32(b)(3)(B))
17. Cellulosic biofuel producer credit 12/31/12
(sec. 40(b)(6)(H))
18. Placed-in-service date for wind 12/31/1216
facilities eligible to claim electricity
production credit (sec. 45(d))
19. Credit for production of Indian coal 12/31/12
(sec. 45(e)(10)(A)(i))
20. Credit for employer-provided child care 12/31/12
(sec. 45F and sec. 901 of Pub. L. No. 107-
16)
21. Election to claim the energy credit in 12/31/1217
lieu of the electricity production credit
for wind facilities (sec. 48(a)(5))
22. Work opportunity tax credit targeted to 12/31/1218
hiring qualified veterans (sec. 51(c)(4)(B))
23. Credit for prior year minimum tax 12/31/12
liability made refundable after period of
years (sec. 53(e))
24. Increase of the standard deduction for 12/31/12
married filers to double that of unmarried
filers (sec. 63(c)(2)(A) and sec. 901 of
Pub. L. No. 107-16)
25. Repeal of overall limitation on itemized 12/31/12
deductions (the "Pease limitation") (sec.
68(g) and sec. 901 of Pub. L. No. 107-16)
26. Discharge of indebtedness on principal 12/31/12
residence excluded from gross income of
individuals (sec. 108(a)(1)(E))
27. Elimination of tax on awards under the 12/31/12
National Health Service Corps Scholarship
Program and the F. Edward Hebert Armed
Forces Health Professions Scholarship and
Financial Assistance Program (sec.
117(c)(2) and sec. 901 of Pub. L. No. 107-
16)
28. Employer-provided educational 12/31/12
assistance: expansion to graduate
education and making the exclusion
permanent (sec. 127(c)(1) and sec. 901 of
Pub. L. No. 107-16)
29. Tax-exempt bonds for educational 12/31/12
facilities: increase in amount of bonds
qualifying for small-issuer arbitrage rebate
exception, expansion of tax-exempt bond
treatment to public school facilities (secs.
142(a)(13) and (k), 148(f)(4)(D)(vii) and
sec. 901 of Pub. L. No. 107-16)
30. Repeal of the personal exemptions phase- 12/31/12
outs ("PEP") for high-income taxpayers
(sec. 151(d)(3)(F) and sec. 901 of Pub. L.
No. 107-16)
31. Additional first-year depreciation for 12/31/1219
50 percent of basis of qualified property
(secs. 168(k)(1) and (2))
32. Election to accelerate AMT credits in 12/31/1220
lieu of additional first-year
depreciation (sec. 168(k)(4))
33. Special depreciation allowance for 12/31/12
cellulosic biofuel plant property (sec.
168(l))
34. Increase in dollar limitations for 12/31/12 21
expensing to $125,000/500,000 (indexed)
(secs. 179(b)(1) and (2), (c)(2), and
(d)(1)(A)(ii))
35. Student loan interest deduction: 12/31/12
increase and indexation for inflation of
the phase-out ranges, repeal of the
limit on the number of months that
interest payments are deductible, repeal
of the rule that voluntary payments of
interest are not deductible (sec. 221 and
sec. 901 of Pub. L. No. 107-16)
36. Repeal of collapsible corporation rules 12/31/12 22
(sec. 341 and sec. 303 of Pub. L. No. 108-
27)
37. Education Individual Retirement Accounts 12/31/12
(Coverdell education savings accounts):
increase of maximum annual contribution
from $500 to $2,000, expansion of
definition of qualified education expenses,
increase in the size of the phase-out range
for married filers to double that of
unmarried filers, provision of special needs
beneficiary rules, contributions by
corporations and other entities, and
contributions until April 15th, permitted
(secs. 530(b)(1), (b)(2), (b)(4), (c)(1),
(d)(2) and sec. 901 of Pub. L. No. 107-16)
38. Reduced rates under accumulated earnings 12/31/12
tax and personal holding company tax
(secs. 531 and 541 and sec. 901 of Pub. L.
No. 107-16)
39. Modified tax treatment of electing 12/31/12
Alaska Native Settlement Trusts and their
beneficiaries (sec. 646 and sec. 901 of Pub.
L. No. 107-16)
40. Estate, gift, and generation skipping
transfer tax provisions (sec. 901 of Pub. L.
No. 107-16):
a. Reduction in the maximum estate and 12/31/12
gift tax rate to 35 percent (secs. 2001
and 2502)
b. Modifications of estate and gift taxes 12/31/12
to reflect differences in credit
resulting from different tax rates (secs.
2001(b)(2), 2001(g), and 2505(a))
c. Increase in estate and gift tax 12/31/12
exemption to $5 million (indexed for
inflation in years after 2011) (sec.
2010)
d. "Portability" rules permitting a 12/31/12
surviving spouse to use the deceased
spousal unused exclusion amount (sec.
2010(c))
e. Estate tax deduction for State death 12/31/12
taxes paid (secs. 2011, 2053, 2058, 2102,
2106, and 2604)
f. Expansion and clarification of estate 12/31/12
tax conservation easement rules (secs.
2031(c)(2) and (c)(8)(A)(i))
g. Repeal of the qualified family-owned 12/31/12
business deduction (sec. 2057)
h. Modifications to generation-skipping 12/31/12
transfer tax rules regarding deemed
allocations of exemption to certain
transfers in trust, severing of trusts,
valuation, and relief for late elections
(secs. 2632(c) and 2642(a)(3), (b)(1),
and (b)(2)(A))
i. Modifications to estate tax 12/31/12
installment payment rules (secs.
6166(b)(1)(B)(ii), (b)(1)(C)(ii),
(b)(8)(B), (b)(9)(B)(iii)(I), and
(b)(10))
41. Refunds disregarded in the 12/31/12
administration of Federal programs and
Federally assisted programs (sec. 6409)
_____________________________________________________________________
C. Provisions Expiring in 2013
_____________________________________________________________________
1. Credit for health insurance costs of 12/31/13
eligible individuals (sec. 35(a))
2. Determination of low-income housing 12/31/13
credit rate (sec. 42(b)(2))
3. Placed-in-service date for facilities 12/31/1323
(other than wind facilities) eligible to
claim the electricity production credit
(sec. 45(d))
4. Election to claim the energy credit in 12/31/1324
lieu of the electricity production credit
for renewable power facilities other than
wind facilities (sec. 48(a)(5))
5. Three-year depreciation for race horses 12/31/13
two years old or younger (sec.
168(e)(3)(A))
6. Placed-in-service date for partial 12/31/13 25
expensing of certain refinery property
(sec. 179C(c)(1))
7. Energy efficient commercial buildings 12/31/13
deduction (sec. 179D(h))
8. Transfer of excess pension assets to 12/31/13
retiree health accounts (sec. 420(b)(5))
_____________________________________________________________________
D. Provisions Expiring in 2014
_____________________________________________________________________
1. Incentives for alternative fuel and
alternative fuel mixtures involving
liquefied hydrogen:
a. Excise tax credits and outlay payments 9/30/1426
for liquefied hydrogen (secs. 6426(d)(5)
and 6427(e)(6)(D))
b. Excise tax credits and outlay payments 9/30/14
for liquefied hydrogen fuel mixtures
(secs. 6426(e)(3) and 6427(e)(6)(D))
2. Alternative motor vehicle credit for 12/31/14
qualified fuel cell motor vehicles (sec.
30B(k)(1))
3. Alternative fuel vehicle refueling 12/31/1427
property (hydrogen refueling property)
(sec. 30C(g)(1))
4. Automatic amortization extension for 12/31/1428
multiemployer defined benefit pension
plans (sec. 431(d)(1)(C))
5. Additional funding rules for 12/31/1429
multiemployer defined benefit pension
plans in endangered or critical status
(sec. 432 and sec. 221(c) of Pub. L. No.
109-280)
6. Deemed approval of adoption, use or 12/31/14
cessation of shortfall funding method for
multiemployer defined benefit pension
plans (secs. 201(b) and 221(c) of Pub. L.
No. 109-280)
_____________________________________________________________________
E. Provisions Expiring in 2016
_____________________________________________________________________
1. Credit for residential energy property 12/31/16
(sec. 25D(g))
2. Increased credit for business solar 12/31/16
energy property (sec. 48(a)(2)(A)(i)(II))
3. Credit for hybrid solar lighting systems 12/31/16
(sec. 48(a)(3)(A)(ii))
4. Energy credit for geothermal heat pump 12/31/16
property, small wind property, and
combined heat and power property (secs.
48(a)(3)(A)(vii), 48(c)(4), and
48(c)(3)(A)(iv))
5. Credit for business installation of 12/31/16
qualified fuel cells and stationary
microturbine power plants (secs.
48(c)(1)(D) and (c)(2)(D))
_____________________________________________________________________
F. Provisions Expiring in 2017
_____________________________________________________________________
1. Oil Spill Liability Trust Fund financing 12/31/17
rate (sec. 4611(f)(2))
_____________________________________________________________________
G. Provisions Expiring in 2018
_____________________________________________________________________
1. Black Lung Disability Trust Fund: 12/31/1830
increase in amount of excise tax on coal
(sec. 4121(e)(2))
_____________________________________________________________________
H. Provisions Expiring in 2020
_____________________________________________________________________
1. Placed-in-service date for eligibility 12/31/20
for the credit for production from
certified advanced nuclear power
facilities (sec. 45J(d)(1)(B))
_____________________________________________________________________
II. TEMPORARY DISASTER RELIEF FEDERAL TAX PROVISIONS
EXPIRING 2011-2022
A. Temporary Disaster Relief Federal Tax Provisions Expiring in 2011
_____________________________________________________________________
1. New York Liberty Zone: tax-exempt bond 12/31/11
financing (sec. 1400L(d)(2)(D))
2. Tax-exempt bond financing for the Gulf 12/31/11
Opportunity Zone (sec. 1400N(a))
3. Low-income housing credit additional 12/31/11
housing credit dollar amount for the Gulf
Opportunity Zone and certain programmatic
expansions for the Gulf Opportunity Zone,
the Rita GO Zone, and the Wilma GO Zone
(sec. 1400N(c))
4. Placed-in-service date for additional 12/31/1131
depreciation for specified Gulf Opportunity
Zone extension property (sec. 1400N(d)(6))
5. Increase in rehabilitation credit for 12/31/11
structures located in the Gulf Opportunity
Zone (sec. 1400N(h))
6. Increase in rehabilitation credit for 12/31/11
areas damaged by 2008 Midwestern severe
storms, tornados, and flooding (sec. 702 of
Division C of Pub. L. No. 110-343)
_____________________________________________________________________
B. Temporary Disaster Relief Federal Tax Provisions Expiring in 2012
_____________________________________________________________________
1. Tax-exempt bond financing rules for areas 12/31/12
damaged by 2008 Midwestern severe storms,
tornados, and flooding (sec. 702 of
Division C of Pub. L. No. 110-343)
2. Tax-exempt bond financing rules for areas 12/31/12
damaged by Hurricane Ike in 2008 (sec.
704 of Division C of Pub. L. No. 110-343)
_____________________________________________________________________
C. Temporary Disaster Relief Federal Tax Provisions Expiring in 2013
_____________________________________________________________________
1. Extension of replacement period for 12/31/13
nonrecognition of gain for areas damaged
by 2008 Midwestern severe storms,
tornados and flooding (sec. 702 of Division
C of Pub. L. No. 110-343)
_____________________________________________________________________
1 This document may be cited as follows: Joint Committee on Taxation, List of Expiring Federal Tax Provisions 2011-2022 (JCX-1-12), January 6, 2012. This document can be found on the Joint Committee on Taxation website at www.jct.gov.
2 Not including temporary disaster relief Federal tax provisions, which are listed in Part II.
3 In the case of a written binding contract entered into before May 1, 2011, to close on the purchase of a principal residence before July 1, 2011, the purchase must close before July 1, 2011.
4 The related provision of section 30C for hydrogen refueling property expires December 31, 2014.
5 The work opportunity tax credit targeted to hiring qualified veterans expires December 31, 2012.
6 December 31, 2012, for certain longer-lived and transportation property. The 50 percent additional first year depreciation deduction (which is effective after December 31, 2011) expires December 31, 2012 (December 31, 2013 for certain longer-lived and transportation property).
7 The expensing limits of $125,000/$500,000 effective after December 31, 2011 expire December 31, 2012.
8 The empowerment zone tax incentives may expire earlier than December 31, 2011 if a State or local government provided for an expiration date in the nomination of an empowerment zone, or the appropriate Secretary revokes an empowerment zone's designation. The State or local government may, however, amend the nomination to provide for a new termination date.
9 The related provisions for liquefied hydrogen fuel expire September 30, 2014.
10 The 4.3-cents-per-gallon rate is permanent.
11 The 4.3-cents-per-gallon rate is permanent.
12 After March 31, 2012, in the case of fuel none of the alcohol in which consists of ethanol, the rate is 2.15 cents-per-gallon. In any other case, the rate is 4.3 cents-per-gallon.
13 A termination rule applies to all provisions (not otherwise extended or made permanent) that were enacted in EGTRRA (Pub. L. No. 107-16). These provisions terminate December 31, 2012, under EGTRRA section 901 as modified by TRUIRJCA (Pub. L. No. 111-312), and are listed in this document with a reference to section 901 of Pub. L. No. 107-16.
14 A termination rule applies to provisions relating to (1) reduced capital gains rates, (2) dividends taxed at capital gains rates, and (3) repeal of the collapsible corporation rules, enacted in the Jobs and Growth Tax Relief Reconciliation Act of 2003, Pub. L. No. 108-27 ("JGTRRA"). These provisions terminate December 31, 2012, under JGTRRA section 303 as modified by section 102 of the Tax Increase Prevention and Reconciliation Act of 2005, Pub. L. No. 109-222 ("TIPRA") and section 102 of TRUIRJCA, Pub. L. No. 111-312.
15 See note 14.
16 The placed-in-service date for renewable power facilities other than wind facilities is December 31, 2013.
17 The expiration date with respect to renewable power facilities other than wind facilities is December 31, 2013.
18 The work opportunity tax credit generally expired December 31, 2011.
19 December 31, 2013 for certain longer-lived and transportation property.
20 December 31, 2013 for certain longer-lived and transportation property.
21 The dollar limitations for expensing at $500,000/$2,000,000 and the expanded definition of section 179 property expire for any taxable year beginning after December 31, 2011.
22 See note 14.
23 The placed-in-service date for wind facilities is December 31, 2012.
24 The expiration date with respect to wind facilities is December 31, 2012.
25 The commencement-of-construction date for self-constructed property is December 31, 2009.
26 Related provisions for non-hydrogen fuel expired December 31, 2011.
27 The related provision of section 30C for non-hydrogen alternative fuel vehicle refueling property expired December 31, 2011.
28 A corresponding provision, also expiring on December 31, 2014, is contained in section 304(d)(1)(C) of ERISA.
29 A corresponding provision, also expiring on December 31, 2014, is contained in section 305 of ERISA.
30 The increased amount of the excise tax on coal terminates the earlier of this date or the first December 31 as of which there is no balance of repayable advances made to the Black Lung Disability Trust Fund and no unpaid interest on such advances.
31 Certain personal property may qualify if placed in service within 90 days following December 31, 2011.
END OF FOOTNOTES
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