Home > 106th Congressional Bills > S. 1771 (pcs) To provide stability in the United States agriculture sector and to [Placed on Calendar Senate] ...

S. 1771 (pcs) To provide stability in the United States agriculture sector and to [Placed on Calendar Senate] ...


Google
 
Web GovRecords.org







                                                       Calendar No. 342
106th CONGRESS
  1st Session
                                S. 1770

 To amend the Internal Revenue Code of 1986 to permanently extend the 
 research and development credit and to extend certain other expiring 
           provisions for 30 months, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 22, 1999

    Mr. Lott (for himself, Mr. Hatch, Mr. Craig, Mr. Coverdell, Mr. 
    McConnell, Mr. Gregg, Mr. Gorton, Mr. Frist, and Mr. Ashcroft) 
      introduced the following bill; which was read the first time

                            October 25, 1999

            Read the second time and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to permanently extend the 
 research and development credit and to extend certain other expiring 
           provisions for 30 months, 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; ETC.

    (a) Short Title.--This Act may be cited as the ``Clear Extenders 
Act of 1999''.
    (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 for this Act is as 
follows:

               TITLE I--EXTENSION OF EXPIRING INCENTIVES

SEC. 101. PERMANENT EXTENSION OF RESEARCH AND DEVELOPMENT CREDIT.

    (a) Extension.--
            (1) In general.--Section 41 (relating to credit for 
        increasing research activities) is amended by striking 
        subsection (h).
            (2) Technical amendment.--Section 45C(b)(1) is amended by 
        striking subparagraph (D).
            (3) Effective date.--The amendments made by this subsection 
        shall apply to amounts paid or incurred after June 30, 1999.
    (b) Increase in Percentages Under Alternative Incremental Credit.--
            (1) In general.--Subparagraph (A) of section 41(c)(4) of 
        such Code is amended--
                    (A) by striking ``1.65 percent'' and inserting 
                ``2.65 percent'',
                    (B) by striking ``2.2 percent'' and inserting ``3.2 
                percent'', and
                    (C) by striking ``2.75 percent'' and inserting 
                ``3.75 percent''.
            (2) Effective date.--The amendments made by this subsection 
        shall apply to taxable years beginning after June 30, 1999.
    (c) Special Rule.--
            (1) In general.--For purposes of the Internal Revenue Code 
        of 1986, the credit determined under section 41 of such Code 
        which is otherwise allowable under such Code and which is 
        attributable to the suspension period shall not be taken into 
        account prior to October 1, 2000. On or after such date, such 
        credit may be taken into account through the filing of an 
        amended return, an application for expedited refund, an 
        adjustment of estimated taxes, or other means allowed by such 
        Code.
            (2) Suspension period.--For purposes of this subsection, 
        the suspension period is the period beginning on July 1, 1999, 
        and ending on September 30, 2000.
            (3) Expedited refunds.--
                    (A) In general.--If there is an overpayment of tax 
                with respect to a taxable year by reason of paragraph 
                (1), the taxpayer may file an application for a 
                tentative refund of such overpayment. Such application 
                shall be in such manner and form, and contain such 
                information, as the Secretary may prescribe.
                    (B) Deadline for applications.--Subparagraph (A) 
                shall apply only to applications filed before October 
                1, 2001.
                    (C) Allowance of adjustments.--Not later than 90 
                days after the date on which an application is filed 
                under this paragraph, the Secretary shall--
                            (i) review the application,
                            (ii) determine the amount of the 
                        overpayment, and
                            (iii) apply, credit, or refund such 
                        overpayment,
                in a manner similar to the manner provided in section 
                6411(b) of such Code.
                    (D) Consolidated returns.--The provisions of 
                section 6411(c) of such Code shall apply to an 
                adjustment under this paragraph in such manner as the 
                Secretary may provide.
            (4) Credit attributable to suspension period.--
                    (A) In general.--For purposes of this subsection, 
                in the case of a taxable year which includes a portion 
                of the suspension period, the amount of credit 
                determined under section 41 of such Code for such 
                taxable year which is attributable to such period is 
                the amount which bears the same ratio to the amount of 
                credit determined under such section 41 for such 
                taxable year as the number of months in the suspension 
                period which are during such taxable year bears to the 
                number of months in such taxable year.
                    (B) Waiver of estimated tax penalties.--No addition 
                to tax shall be made under section 6654 or 6655 of such 
                Code for any period before July 1, 1999, with respect 
                to any underpayment of tax imposed by such Code to the 
                extent such underpayment was created or increased by 
                reason of subparagraph (A).
            (5) Secretary.--For purposes of this subsection, the term 
        ``Secretary'' means the Secretary of the Treasury (or such 
        Secretary's delegate).

SEC. 102. EXTENSION OF MINIMUM TAX RELIEF FOR INDIVIDUALS.

    (a) In General.--The second sentence of section 26(a) (relating to 
limitations based on amount of tax) is amended by striking ``1998'' and 
inserting ``calendar years 1998, 1999, 2000, and 2001''.
    (b) Child Credit.--Section 24(d)(2) (relating to reduction of 
credit to taxpayer subject to alternative minimum tax) is amended by 
striking ``December 31, 1998'' and inserting ``December 31, 2001''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1998.

SEC. 103. SUBPART F EXEMPTION FOR ACTIVE FINANCING INCOME.

    (a) In General.--Sections 953(e)(10) and 954(h)(9) (relating to 
application) are each amended--
            (1) by striking ``the first taxable year'' and inserting 
        ``taxable years'',
            (2) by striking ``January 1, 2000'' and inserting ``January 
        1, 2002'', and
            (3) by striking ``within which such'' and inserting 
        ``within which any such''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1999.

SEC. 104. TAXABLE INCOME LIMIT ON PERCENTAGE DEPLETION FOR MARGINAL 
              PRODUCTION.

    (a) In General.--Subparagraph (H) of section 613A(c)(6) (relating 
to temporary suspension of taxable limit with respect to marginal 
production) is amended by striking ``January 1, 2000'' and inserting 
``January 1, 2002''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 1999.

SEC. 105. WORK OPPORTUNITY CREDIT AND WELFARE-TO-WORK CREDIT.

    (a) Temporary Extension.--Sections 51(c)(4)(B) and 51A(f) (relating 
to termination) are each amended by striking ``June 30, 1999'' and 
inserting ``December 31, 2001''.
    (b) Clarification of First Year of Employment.--Paragraph (2) of 
section 51(i) of such Code is amended by striking ``during which he was 
not a member of a targeted group''.
    (c) Effective Date.--The amendments made by this section shall 
apply to individuals who begin work for the employer after June 30, 
1999.

                        TITLE II--REVENUE OFFSET

SEC. 201. MODIFICATION OF ESTIMATED TAX SAFE HARBOR.

          (a) In General.--The table contained in clause (i) of section 
6654(d)(1)(C) of the Internal Revenue Code of 1986 (relating to 
limitation on use of preceding year's tax) is amended by striking the 
item relating to 1999 or 2000 and inserting the following new items:

    ``1999........................................               108.5 
    2000..........................................               106''.
          (b) Effective Date.--The amendment made by this section shall 
apply with respect to any installment payment for taxable years 
beginning after December 31, 1999.
                                     





                                                       Calendar No. 342

106th CONGRESS

  1st Session

                                S. 1770

_______________________________________________________________________

                                 A BILL

 To amend the Internal Revenue Code of 1986 to permanently extend the 
 research and development credit and to extend certain other expiring 
           provisions for 30 months, and for other purposes.

_______________________________________________________________________

                            October 25, 1999

            Read the second time and placed on the calendar

Pages: 1

Other Popular 106th Congressional Bills Documents:

1 H.R. 2290 (ih) To suspend temporarily the duty on the chemical 2 Chloro Amino Toluene. [Introduced in House] ...
2 S. 3201 (es) To rename the National Museum of American Art. [Engrossed in Senate] ...
3 H.R. 3781 (ih) To suspend temporarily the duty on machines, and their parts, for use in the manufacture of digital versatile discs (DVDs). [Introduced in House] ...
4 H.Res. 273 (eh) [Engrossed in House] ...
5 H.R. 2260 (rfs) To amend the Controlled Substances Act to promote pain management and palliative care without permitting assisted suicide and euthanasia, and for other purposes. [Referred in Senate] ...
6 S. 1509 (es) To amend the Indian Employment, Training, and Related Services Demonstration Act of 1992, to emphasize the need for job creation on Indian reservations, and for other purposes. [Engrossed in Senate] ...
7 H.R. 16 (ih) To provide a program of national health insurance, and for other purposes. [Introduced in House] ...
8 H.R. 4516 (eh) Making appropriations for the Legislative Branch for the fiscal year ending September 30, 2001, and for other purposes. [Engrossed in House] ...
9 S. 3093 (is) To require the Federal Energy Regulatory Commission to roll back the wholesale price of electric energy sold in the Western System Coordinating Council, and for other purposes. [Introduced in Senate] ...
10 H.R. 729 (ih) To provide for development and implementation of certain plans to reduce risks to the public health and welfare caused by helicopter operations. [Introduced in House] ...
11 S.Res. 123 (ats) Honoring the memory of former Peace Corps Director Loret Miller Ruppe. [Agreed to Senate] ...
12 H.R. 5096 (ih) To amend the Individuals with Disabilities Education Act to provide that certain funds treated as local funds under that Act shall be used to provide additional funding for programs under the Elementary and Secondary Education Act of 1965....
13 H.R. 5378 (ih) To amend the Immigration and Nationality Act to clarify the special rule relating to continuous residence or physical presence under section 240A(d) of that Act. [Introduced in House] ...
14 H.R. 2813 (ih) To assist local governments in conducting gun buyback programs. [Introduced in House] ...
15 H.R. 4169 (enr) To designate the facility of the United States Postal Service located at 2000 Vassar Street in Reno, Nevada, as the ``Barbara F. Vucanovich Post Office Building''. [Enrolled bill] ...
16 H.R. 444 (ih) To amend the Dairy Production Stabilization Act of 1983 to ensure that all persons who benefit from the dairy promotion and research program contribute to the cost of the program. [Introduced in House] ...
17 H.R. 3293 (rh) To amend the law that authorized the Vietnam Veterans Memorial to authorize the placement within the site of the memorial of a plaque to honor those Vietnam veterans who died after their service in the Vietnam war, but as a direct result of...
18 H.R. 459 (rh) To extend the deadline under the Federal Power Act for FERC Project No. 9401, the Mt. Hope Waterpower Project. [Reported in House] ...
19 H.R. 1162 (rs) To designate the bridge on United States Route 231 that crosses the Ohio River between Maceo, Kentucky, and Rockport, Indiana, as the ``William H. Natcher Bridge''. [Reported in Senate] ...
20 S. 875 (is) To amend the Internal Revenue Code of 1986 to expand S corporation eligibility for banks, and for other purposes. [Introduced in Senate] ...
21 S. 2021 (is) To prohibit high school and college sports gambling in all States including States where such gambling was permitted prior to 1991. [Introduced in Senate] ...
22 H.R. 4834 (ih) To amend the Internal Revenue Code of 1986 to suspend all motor fuel taxes until January 1, 2001. [Introduced in House] ...
23 H.R. 4579 (rs) To provide for the exchange of certain lands within the State of Utah. [Reported in Senate] ...
24 H.R. 436 (rh) To reduce waste, fraud, and error in Government programs by making improvements with respect to Federal management and debt collection practices, Federal payment systems, Federal benefit programs, and for other purposes. [Reported in House]...
25 S. 1421 (is) To impose restrictions on the sale of cigars. [Introduced in Senate] ...
26 H.R. 4280 (ih) To amend the Public Health Service Act with respect to the operation by the National Institutes of Health of an experimental program to stimulate competitive research. [Introduced in House] ...
27 H.R. 5562 (eh) To amend title 28, United States Code, to allow a judge to whom a case is transferred to retain jurisdiction over certain multidistrict litigation cases for trial. [Engrossed in House] ...
28 H.R. 937 (ih) To amend the Internal Revenue Code of 1986 to provide a tax credit for elementary and secondary school teachers. [Introduced in House] ...
29 H.R. 2443 (ih) To amend chapter 44 of title 18, United States Code, relating to the regulation of firearms dealers, and for other purposes. [Introduced in House] ...
30 S. 2712 (is) To amend chapter 35 of title 31, United States Code, to authorize the consolidation of certain financial and performance management reports required of Federal agencies, and for other purposes. [Introduced in Senate] ...


Other Documents:

106th Congressional Bills Records and Documents

GovRecords.org presents information on various agencies of the United States Government. Even though all information is believed to be credible and accurate, no guarantees are made on the complete accuracy of our government records archive. Care should be taken to verify the information presented by responsible parties. Please see our reference page for congressional, presidential, and judicial branch contact information. GovRecords.org values visitor privacy. Please see the privacy page for more information.
House Rules:

104th House Rules
105th House Rules
106th House Rules

Congressional Bills:

104th Congressional Bills
105th Congressional Bills
106th Congressional Bills
107th Congressional Bills
108th Congressional Bills

Supreme Court Decisions

Supreme Court Decisions

Additional

1995 Privacy Act Documents
1997 Privacy Act Documents
1994 Unified Agenda
2004 Unified Agenda

Congressional Documents:

104th Congressional Documents
105th Congressional Documents
106th Congressional Documents
107th Congressional Documents
108th Congressional Documents

Congressional Directory:

105th Congressional Directory
106th Congressional Directory
107th Congressional Directory
108th Congressional Directory

Public Laws:

104th Congressional Public Laws
105th Congressional Public Laws
106th Congressional Public Laws
107th Congressional Public Laws
108th Congressional Public Laws

Presidential Records

1994 Presidential Documents
1995 Presidential Documents
1996 Presidential Documents
1997 Presidential Documents
1998 Presidential Documents
1999 Presidential Documents
2000 Presidential Documents
2001 Presidential Documents
2002 Presidential Documents
2003 Presidential Documents
2004 Presidential Documents

Home Executive Judicial Legislative Additional Reference About Privacy