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. 762 (ih) To amend the Public Health Service Act to provide for research and services with respect to lupus. [Introduced in House] ...
2 S.Res. 31 (is) Commending Archbishop Desmond Tutu for being a recipient of the Immortal Chaplains Prize for Humanity. [Introduced in Senate] ...
3 H.Con.Res. 400 (ih) Congratulating the Republic of Hungary on the millennium of its foundation as a state. [Introduced in House] ...
4 H.R. 1787 (rh) To reauthorize the participation of the Bureau of Reclamation in the Deschutes Resources Conservancy, and for other purposes. [Reported in House] ...
5 H.R. 3594 (enr) To repeal the modification of the installment method. [Enrolled bill] ...
6 H.R. 2565 (enr) To clarify the quorum requirement for the Board of Directors of the Export-Import Bank of the United States. [Enrolled bill] ...
7 H.R. 4389 (ih) To direct the Secretary of the Interior to convey certain water distribution facilities to the Northern Colorado Water Conservancy District. [Introduced in House] ...
8 H.R. 2032 (ih) To amend the Department of Energy Organization Act to establish a Nuclear Security Administration and an Office of Under Secretary for National Security in the Department of Energy. [Introduced in House] ...
9 H.R. 2366 (rh) To provide small businesses certain protections from litigation excesses and to limit the product liability of nonmanufacturer product sellers. [Reported in House] ...
10 H.R. 1616 (ih) To amend the Internal Revenue Code of 1986 to simplify certain provisions applicable to real estate investment trusts. [Introduced in House] ...
11 H.Con.Res. 251 (rs) Commending the Republic of Croatia for the conduct of its parliamentary and presidential elections. [Reported in Senate] ...
12 S. 981 (is) To provide training to professionals who work with children affected by violence, to provide for violence prevention, and for other purposes. [Introduced in Senate] ...
13 H.R. 2863 (enr) To clarify the legal effect on the United States of the acquisition of a parcel of land in the Red Cliffs Desert Reserve in the State of Utah. [Enrolled bill] ...
14 S. 2918 (is) To amend title XVIII of the Social Security Act and the Employee [Introduced in Senate] ...
15 H.Con.Res. 446 (ath) Providing for the sine die adjournment of the second session of the One Hundred Sixth Congress. [Agreed to House] ...
16 H.R. 84 (ih) To establish or expand existing community prosecution programs. [Introduced in House] ...
17 H.R. 3118 (ih) To direct the Secretary of the Interior to issue regulations under the Migratory Bird Treaty Act that authorize States to establish hunting seasons for double-crested cormorants. [Introduced in House] ...
18 H.R. 3291 (ih) To provide for the settlement of the water rights claims of the Shivwits Band of the Paiute Indian Tribe of Utah, and for other purposes. [Introduced in House] ...
19 H.R. 5331 (eh) To authorize the Frederick Douglass Gardens, Inc., to establish a memorial and gardens on Department of the Interior lands in the District of Columbia or its environs in honor and commemoration of Frederick Douglass. [Engrossed in House] %%...
20 S. 2534 (is) To suspend temporarily the duty on Pigment Yellow 168. [Introduced in Senate] ...
21 H.R. 2116 (eh) To amend title 38, United States Code, to establish a program of extended care services for veterans and to make other improvements in health care programs of the Department of Veterans Affairs. [Engrossed in House] ...
22 S. 2810 (is) To amend the Consumer Product Safety Act to confirm the Consumer Product Safety Commission's jurisdiction over child safety devices for handguns, and for other purposes. [Introduced in Senate] ...
23 H.R. 2280 (enr) To amend title 38, United States Code, to provide a cost-of-living [Enrolled bill] ...
24 H.Res. 371 (ih) Providing for consideration of the bill (H.R. 664) to provide for substantial reductions in the price of prescription drugs for Medicare beneficiaries. [Introduced in House] ...
25 S. 2019 (es) For the relief of Malia Miller. [Engrossed in Senate] ...
26 H.R. 5273 (eh) To clarify the intention of the Congress with regard to the authority of the United States Mint to produce numismatic coins, and for other purposes. [Engrossed in House] ...
27 S. 2795 (is) To provide for the use and distribution of the funds awarded to the Western Shoshone identifiable group under Indian Claims Commission Docket Numbers 326-A-1, 326-A-3, 326-K, and for other purposes. [Introduced in Senate] ...
28 H.Res. 650 (ih) Expressing the sense of the House with respect to the release of findings and recommendations by the Federal Energy Regulatory Commission regarding the electricity crisis in California. [Introduced in House] ...
29 S. 2087 (is) To amend title 10, United States Code, to improve access to benefits under the TRICARE program; to extend and improve certain demonstration programs under the Defense Health Program; and for other purposes. [Introduced in Senate] %%Filename:...
30 H.Con.Res. 406 (ih) Expressing the sense of the Congress that Federal land management agencies should immediately enact a cohesive strategy to reduce the overabundance of forest fuels which places national resources at high risk of catastrophic wildfire....


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