Jobs Bill Details

10 Feb

This was posted today from Jamie Dupree on his blog. You can hear more of Jamie on Boortz’s show on KFYO from 9-11am.

With the latest winter storm hitting the Washington, D.C. area leaving me snowbound again, I will have some time to dig into the details of the jobs bill being floated by Democrats in the Senate. And so here is a taste of what’s in there for you.

This is just the table of contents – but it goes on for about five pages.
Leave a comment when you get done reading through this. Is this a jobs bill or a Legislative Christmas Tree?

TITLE I–INCENTIVES FOR HIRING AND RETAINING UNEMPLOYED WORKERS
Sec. 101. Payroll tax forgiveness for hiring unemployed workers.
Sec. 102. Business credit for retention of certain newly hired individuals in 2010.
TITLE II–EXPENSING
Sec. 201. Increase in expensing of certain depreciable business assets.
TITLE III–QUALIFIED TAX CREDIT BONDS
Sec. 301. Issuer allowed refundable credit for certain qualified tax credit bonds.
TITLE IV–EXTENSION OF CURRENT SURFACE TRANSPORTATION PROGRAMS
Sec. 401. Short title.
Subtitle A–Federal-aid Highways
Sec. 411. In general.
Sec. 412. Administrative expenses.
Sec. 413. Rescission of unobligated balances.
Sec. 414. Reconciliation of funds.
Subtitle B–National Highway Traffic Safety Administration, Federal Motor Carrier Safety Administration, and Additional Programs
Sec. 421. Extension of National Highway Traffic Safety Administration Highway Safety Programs.
Sec. 422. Extension of Federal Motor Carrier Safety Administration Programs.
Sec. 423. Additional programs.
Subtitle C–Public Transportation Programs
Sec. 431. Allocation of funds for planning programs.
Sec. 432. Special rule for urbanized area formula grants.
Sec. 433. Allocating amounts for capital investment grants.
Sec. 434. Apportionment of formula grants for other than urbanized areas.
Sec. 435. Apportionment based on fixed guideway factors.
Sec. 436. Authorizations for public transportation.
Sec. 437. Amendments to SAFETEA-LU.
Subtitle D–Revenue Provisions
Sec. 441. Repeal of provision prohibiting the crediting of interest to the Highway Trust Fund.
Sec. 442. Restoration of certain foregone interest to Highway Trust Fund.
Sec. 443. Treatment of certain amounts appropriated to Highway Trust Fund.
Sec. 444. Termination of transfers from highway trust fund for certain repayments and credits.
Sec. 445. Extension of authority for expenditures.
Sec. 446. Level of obligation limitations.
TITLE V–EXTENSION OF EXPIRING PROVISIONS
Subtitle A–Energy
Sec. 501. Alternative motor vehicle credit for new qualified hybrid motor vehicles other than passenger automobiles and light trucks.
Sec. 502. Incentives for biodiesel and renewable diesel.
Sec. 503. Credit for electricity produced at certain open-loop biomass facilities.
Sec. 504. Credit for refined coal facilities.
Sec. 505. Credit for production of low sulfur diesel fuel.
Sec. 506. Credit for producing fuel from coke or coke gas.
Sec. 507. New energy efficient home credit.
Sec. 508. Excise tax credits and outlay payments for alternative fuel and alternative fuel mixtures.
Sec. 509. Special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities.
Sec. 510. Suspension of limitation on percentage depletion for oil and gas from marginal wells.
Subtitle B–Individual Tax Relief
PART I–MISCELLANEOUS PROVISIONS
Sec. 511. Deduction for certain expenses of elementary and secondary school teachers.
Sec. 512. Additional standard deduction for State and local real property taxes.
Sec. 513. Deduction of State and local sales taxes.
Sec. 514. Contributions of capital gain real property made for conservation purposes.
Sec. 515. Above-the-line deduction for qualified tuition and related expenses.
Sec. 516. Tax-free distributions from individual retirement plans for charitable purposes.
Sec. 517. Look-thru of certain regulated investment company stock in determining gross estate of nonresidents.
PART II–LOW-INCOME HOUSING CREDITS
Sec. 521. Election for refundable low-income housing credit for 2010.
Subtitle C–Business Tax Relief
Sec. 531. Research credit.
Sec. 532. Indian employment tax credit.
Sec. 533. New markets tax credit.
Sec. 534. Railroad track maintenance credit.
Sec. 535. Mine rescue team training credit.
Sec. 536. Employer wage credit for employees who are active duty members of the uniformed services.
Sec. 537. 5-year depreciation for farming business machinery and equipment.
Sec. 538. 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.
Sec. 539. 7-year recovery period for motorsports entertainment complexes.
Sec. 540. Accelerated depreciation for business property on an Indian reservation.
Sec. 541. Enhanced charitable deduction for contributions of food inventory.
Sec. 542. Enhanced charitable deduction for contributions of book inventories to public schools.
Sec. 543. Enhanced charitable deduction for corporate contributions of computer inventory for educational purposes.
Sec. 544. Election to expense mine safety equipment.
Sec. 545. Special expensing rules for certain film and television productions.
Sec. 546. Expensing of environmental remediation costs.
Sec. 547. Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
Sec. 548. Modification of tax treatment of certain payments to controlling exempt organizations.
Sec. 549. Exclusion of gain or loss on sale or exchange of certain brownfield sites from unrelated business income.
Sec. 550. Timber REIT modernization.
Sec. 551. Treatment of certain dividends and assets of regulated investment companies.
Sec. 552. RIC qualified investment entity treatment under FIRPTA.
Sec. 553. Exceptions for active financing income.
Sec. 554. Look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules.
Sec. 555. Temporary reduction in corporate rate for qualified timber gain.
Sec. 556. Basis adjustment to stock of S corps making charitable contributions of property.
Sec. 557. Empowerment zone tax incentives.
Sec. 558. Tax incentives for investment in the District of Columbia.
Sec. 559. Renewal community tax incentives.
Sec. 560. Temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
Sec. 561. American Samoa economic development credit.
Subtitle D–Temporary Disaster Relief Provisions
PART I–NATIONAL DISASTER RELIEF
Sec. 571. Waiver of certain mortgage revenue bond requirements.
Sec. 572. Losses attributable to federally declared disasters.
Sec. 573. Special depreciation allowance for qualified disaster property.
Sec. 574. Net operating losses attributable to federally declared disasters.
Sec. 575. Expensing of qualified disaster expenses.
PART II–REGIONAL PROVISIONS
SUBPART A–NEW YORK LIBERTY ZONE
Sec. 581. Special depreciation allowance for nonresidential and residential real property.
Sec. 582. Tax-exempt bond financing.
SUBPART B–GO ZONE
Sec. 583. Special depreciation allowance.
Sec. 584. Increase in rehabilitation credit.
SUBPART C–MIDWESTERN DISASTER AREAS
Sec. 585. Special rules for use of retirement funds.
Sec. 586. Exclusion of cancellation of mortgage indebtedness.
TITLE VI–UNEMPLOYMENT INSURANCE, HEALTH, AND OTHER PROVISIONS
Subtitle A–Unemployment Insurance
Sec. 601. Extension of unemployment insurance provisions.
Subtitle B–Health Provisions
Sec. 611. Extension and improvement of premium assistance for COBRA benefits.
Sec. 612. Increase in the Medicare physician payment update.
Sec. 613. Extension of therapy caps exceptions process.
Sec. 614. Treatment of pharmacies under durable medical equipment accreditation requirements.
Sec. 615. Enhanced payment for mental health services.
Sec. 616. Extension of ambulance add-ons.
Sec. 617. Extension of geographic floor for work.
Sec. 618. Extension of payment for technical component of certain physician pathology services.
Sec. 619. Extension of outpatient hold harmless provision.
Sec. 620. EHR Clarification.
Sec. 621. Extension of reimbursement for all Medicare part B services furnished by certain indian hospitals and clinics.
Sec. 622. Extension of certain payment rules for long-term care hospital services and of moratorium on the establishment of certain hospitals and facilities.
Sec. 623. Extension of the Medicare rural hospital flexibility program.
Sec. 624. Extension of section 508 hospital reclassifications.
Sec. 625. Technical correction related to critical access hospital services.
Sec. 626. Extension for specialized MA plans for special needs individuals.
Sec. 627. Extension of reasonable cost contracts.
Sec. 628. Extension of particular waiver policy for employer group plans.
Sec. 629. Technical correction to the national per capita Medicare Advantage growth percentage for 2011.
Sec. 630. Extension of continuing care retirement community program.
Sec. 631. Funding outreach and assistance for low-income programs.
Sec. 632. Family-to-family health information centers.
Sec. 633. Implementation funding.
Subtitle C–Other Provisions
Sec. 641. Extension of use of 2009 poverty guidelines.
Sec. 642. Refunds disregarded in the administration of Federal programs and federally assisted programs.
Sec. 643. State court improvement program.
Sec. 644. Extension of national flood insurance program.
Sec. 645. Extension of intelligence authority sunsets.
Sec. 646. Emergency disaster assistance.
Sec. 647. Small business loan guarantee enhancement extensions.
TITLE VII–PENSION FUNDING RELIEF
Subtitle A–Single Employer Plans
Sec. 701. Extended period for single-employer defined benefit plans to amortize certain shortfall amortization bases.
Sec. 702. Application of extended amortization period to plans subject to prior law funding rules.
Sec. 703. Lookback for benefit accrual restriction.
Subtitle B–Multiemployer Plans
Sec. 711. Adjustments to funding standard account rules.
TITLE VIII–OFFSET PROVISIONS
Subtitle A–Foreign Account Tax Compliance
PART I–INCREASED DISCLOSURE OF BENEFICIAL OWNERS
Sec. 801. Reporting on certain foreign accounts.
Sec. 802. Repeal of certain foreign exceptions to registered bond requirements.
PART II–UNDER REPORTING WITH RESPECT TO FOREIGN ASSETS
Sec. 811. Disclosure of information with respect to foreign financial assets.
Sec. 812. Penalties for underpayments attributable to undisclosed foreign financial assets.
Sec. 813. Modification of statute of limitations for significant omission of income in connection with foreign assets.
PART III–OTHER DISCLOSURE PROVISIONS
Sec. 821. Reporting of activities with respect to passive foreign investment companies.
Sec. 822. Secretary permitted to require financial institutions to file certain returns related to withholding on foreign transfers electronically.
PART IV–PROVISIONS RELATED TO FOREIGN TRUSTS
Sec. 831. Clarifications with respect to foreign trusts which are treated as having a United States beneficiary.
Sec. 832. Presumption that foreign trust has United States beneficiary.
Sec. 833. Uncompensated use of trust property.
Sec. 834. Reporting requirement of United States owners of foreign trusts.
Sec. 835. Minimum penalty with respect to failure to report on certain foreign trusts.
PART V–SUBSTITUTE DIVIDENDS AND DIVIDEND EQUIVALENT PAYMENTS RECEIVED BY FOREIGN PERSONS TREATED AS DIVIDENDS
Sec. 841. Substitute dividends and dividend equivalent payments received by foreign persons treated as dividends.
Subtitle B–Black Liquor
Sec. 851. Exclusion of unprocessed fuels from the cellulosic biofuel producer credit.
Sec. 852. Prohibition on alternative fuel credit and alternative fuel mixture credit for black liquor.
Subtitle C–Homebuyer Credit
Sec. 861. Technical modifications to homebuyer credit.
Subtitle D–Economic Substance
Sec. 871. Codification of economic substance doctrine; penalties.
Subtitle E–Additional Provisions
Sec. 881. Revision to the Medicare Improvement Fund.
Sec. 882. Authority for Secretarial coding intensity adjustment authority.
TITLE IX–SATELLITE TELEVISION EXTENSION
Sec. 901. Short title.
Subtitle A–Statutory Licenses
Sec. 901. Reference.
Sec. 902. Modifications to statutory license for satellite carriers.
Sec. 903. Modifications to statutory license for satellite carriers in local markets.
Sec. 904. Modifications to cable system secondary transmission rights under section 111.
Sec. 905. Certain waivers granted to providers of local-into-local service for all DMAs.
Sec. 906. Copyright Office fees.
Sec. 907. Termination of license.
Sec. 908. Construction.
Subtitle B–Communications Provisions
Sec. 921. Reference.
Sec. 922. Extension of authority.
Sec. 923. Significantly viewed stations.
Sec. 924. Digital television transition conforming amendments.
Sec. 925. Application pending completion of rulemakings.
Sec. 926. Process for issuing qualified carrier certification.
Sec. 927. Nondiscrimination in carriage of high definition digital signals of noncommercial educational television stations.
Sec. 928. Savings clause regarding definitions.
Sec. 929. State public affairs broadcasts.
Subtitle C–Reports and Savings Provision
Sec. 931. Definition.
Sec. 932. Report on market based alternatives to statutory licensing.
Sec. 933. Report on communications implications of statutory licensing modifications.
Sec. 934. Report on in-state broadcast programming.
Sec. 935. Local network channel broadcast reports.
Sec. 936. Savings provision regarding use of negotiated licenses.
Subtitle D–Severability
Sec. 941. Severability.
TITLE X–EMERGENCY DESIGNATION
Sec. 1001. Emergency designation.

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One Response to “Jobs Bill Details”

  1. Jason February 14, 2010 at 9:15 pm #

    Redonkulous

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