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0:\ERN\ERN09560.LC SLC Cowra anne wD 10 1 12 a) 4 15 16 DIVISION B—TAX, UNEMPLOY- MENT, HEALTH, STATE FIS- CAL RELIEF, AND OTHER PROVISIONS TITLE I—TAX PROVISIONS SEC. 1000, SHORT TITLE, ETC. (a) SHoRT TirLE.—This title may be cited as the “American Recovery and Reinvestment Tax Act of 2009” (b) REFEREN Except as otherwise expressly pro- vided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be consid- ered to be made to a section or other provision of the In- ternal Revenme Code of 1986. (c) TABLE OF CoNTENTS.—The table of contents for this title is as follows: ‘TITLE I—TAX PROVISIONS See. 1000. Short title, ete Subtitle A~Tax Relief for Individuals and Fanilies PART I—GuNeRaL Tax RELIEF See. 1001. Making wor pay eredit. mporary increase in earned income tax credit. Temporary increase of refundable portion of ehild ere. -. 1004, American opportunity tax eredit. -. 1005. Computer technology and equipment allowed as qualified higher education expense for section 529 accounts in 2009 and 2010. See. 1006. Extension of and inerease in first-time homebuyer eredit; waiver of requirement to repay. See. 1007. Suspension of tax on portion of unemployment compensation. O:\ERN\ERNO9560.C SLE. 2 See. 1008. Additional deduetion for State sales tax and exvise tax on the par chase of certain motor vehicles. PART I—ALrersarive Minmiuat Tax REurer Sec. 1011. Extension of alternative mininmm tax rae for nonrefundable yer~ sonal eredlits. See, 1012, Extension of inereased alternative mi jam tax exemption amount. Subtitle B—Energy Incentives PART I—RenewabLe ENERGY INCENTIVES Sec, 1101, Extension of eredit for electricity produced from certain renewable resources. See, 1102, Bloction of investment eredit in lien of production credit Sec. 1103. Repeal of certain limitations on eredit for renewable enengy prot erty. See, 1104, Coordination with renewable energy grants. PART I—Ivcseasep Auiocations or New CLEAN RENEWABLE EXERGY BoNps AND QUALIFIED ENERGY ConsERVATION BONDS See. 1111, Inereased ti bonds, ‘See, 1112, Increased Ti ‘bonds, tation on issuance of new clean renewable energy jon on issuance of qualified energy conservation PART I1—Ewenoy Consevation INCENTIVES See. 1121, Bstension and medication of ereit for nonbusiness energy prop ony. 1122. Modification of credit for residential energy efficient property. 1128. Temporary inerease in exeit for alternative fuel vehicle reveling property. fe PART IV—Mopirication oF Creprr ¥OR CARBON Dioxnz SEQUESTRATION g 1181. Application of monitoring requirements to earbon dioside used as a tertiary injectant, PART V—Puva4n Euecrac Drive Moron Vesicuns LIAL. Credit for new qualified plug-in electric drive motor vehicles. 1142. Credit for eertain plug-in eleetrie vehicles, 1148. Conversion kits. 1144. Treatment of alternative motor vehicle credit as a personal credit al- owed against AMT. PERE PART VI—Paniry For Transportation FRINGE BENEFITS f 1151. Increased exclusion amount for commuter transit benefits and tran- sit passes. Subtitle C—Tax Incentives for Business PART I—TeMPoRaRY INVESTMENT INCENTIVES (0:\ERN\ERNO9560.LC SLC. See, See. See f g 3 1201. Special allowance for certain property acquired during 2009, 1202. Temporary inerease in linitations on expensing of certain depre- able business assets, PART [Swan Busivess Provisions 1211. S-year earryback of operating losses of small businesses. 1212. Deoreased required estimated tax payments in 2009 tor certain small businesses. PART III—INceNtives FoR New Jons -- 1221. Incentives to hire unemployed veterans ant diseonmected youth, PART IV—Ruues ReLavine 10 Dest InstRuMENTs. 1281, Deferral and ratable inclusion of income arising from business in- Aebtedness discharged by the reacquisition of a debt instra- ment. . Modifications of rules for original issue discount on certain high ‘Yield obligations. PART VQuanurn Suan, BUSINESS $10CK 1241, Special rules applicable to qualified small business stock for 2009 ‘and 2010, PART VI-S Cononations 1251. ‘Temporary reduction in recognition period for built-in gains tax. PART ViI—Ruves Renania TO OwNensenP CHaNces 1261. Clarification of regulations related to limitations on certain built-in losses following an ownership cliange. .. 1262, Treatment of certain ownership cumges for purposes of linltations on net operating loss earnyforwards and certain builtin losses. Subtitle D—Munufueturing Recovery Provisions 1301, Temporery espansion of availability of industrial development bonds to facilities manufueturing intangible property. 1302, Credit for investment in advanced energy facilities. Subtitle E—Beonomie Recovery ‘Tools 1401. Recovery zone bonds. 1402. ‘Tribal economic development bonds. 1403. Inerease in new markets tax eredit. 1404. Coordination of low-income housing eredit and low-income housing grants. Subtide FInfrastructure Finaneing Tools PART IIuproveD MaRkerABILITY FOR TAX-EXEMPT BONDS 1501. De minimis safe harbor exception for tax-exempt interest expanse of financial institutions. 1502. Modification of small issuer exception to tax-exesay. interest expense allocation rules for financial institutions