Joint Committee on Taxation List of Expiring Federal Tax Provisions 2007 --2020
January 14, 2008
110th Congress
LIST OF EXPIRING FEDERAL TAX PROVISIONS 2007-2020
Prepared by the Staff of the JOINT COMMITTEE ON TAXATION
January 11, 2008
JCX-1-08
CONTENTS
INTRODUCTION
I. FEDERAL TAX PROVISIONS EXPIRING 2007-2020
A. Provisions that Expired in 2007
B. Provisions Expiring in 2008
C. Provisions Expiring in 2009
D. Provisions Expiring in 2010
E. Provisions Expiring in 2011
F. Provisions Expiring in 2012
G. Provisions Expiring in 2013
H. Provisions Expiring in 2014
I. Provisions Expiring in 2015
J. Provisions Expiring in 2020
II. TEMPORARY DISASTER RELIEF FEDERAL TAX PROVISIONS EXPIRING 2007-2010
A. Temporary Disaster Relief Federal Tax Provisions that Expired in 2007
B. Temporary Disaster Relief Federal Tax Provisions Expiring in 2008
C. Temporary Disaster Relief Federal Tax Provisions Expiring in 2009
D. Temporary Disaster Relief Federal Tax Provisions Expiring in 2010
INTRODUCTION
This document,1 prepared by the staff of the Joint Committee on Taxation, provides a listing of tax provisions (other than those providing time-limited transition relief after the repeal of an underlying rule) that are currently scheduled to expire in 2007-2020 (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 some statutorily specified date in the future, 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.
I. FEDERAL TAX PROVISIONS2 EXPIRING 2007-2020
A. Provisions that Expired in 2007
___________________________________________________________________________________
Provision (Code section) Expiration Date
___________________________________________________________________________________
1. Credit for certain nonbusiness energy property (sec. 12/31/07
25C(g))
2. Personal tax credits allowed against regular tax and 12/31/07
alternative minimum tax ("AMT") (sec. 26(a)(2))3
3. Election to include combat pay as earned income for 12/31/07
purposes of earned income credit (sec.
32(c)(2)(B)(vi))
4. Tax credit for research and experimentation expenses 12/31/07
(sec. 41(h)(1)(B))
5. Indian employment tax credit (sec. 45A(f)) 12/31/07
6. Credit for certain expenditures for maintaining 12/31/07
railroad tracks (sec. 45G(f))
7. Date by which certain biomass or synthetic fuels 12/31/07
produced at certain qualified facilities must be sold
to be eligible for the credit for producing fuel from
a nonconventional source (sec. 45K(f)(1)(B))
8. Credit for energy efficient appliance (sec. 45M(b)) 12/31/07
9. Increased AMT exemption amount (sec. 55(d)(1)) 12/31/07
10.Deduction for certain expenses of elementary and 12/31/07
secondary school teachers (sec. 62(a)(2)(D))
11.Penalty-free withdrawals from retirement plans for 12/31/07
individuals called to active duty (sec. 72(t)(2)(G))
12.Use of qualified mortgage bonds to finance residences 12/31/07
for veterans without regard to first-time homebuyer
requirement (sec. 143(d)(2)(D))
13.Deduction of State and local general sales taxes (sec. 12/31/07
164(b)(5))
14.15-year straight-line cost recovery for qualified 12/31/07
leasehold improvements and qualified restaurant
improvements (sec. 168(e)(3)(E)(iv) and (v))
15.Seven-year recovery period for motorsports 12/31/07
entertainment complexes (sec. 168(i)(15)(D))
16.Accelerated depreciation for business property on an 12/31/07
Indian reservation (sec. 168(j)(8))
17.Encouragement of contributions of capital gain real 12/31/07
property made for conservation purposes (secs.
170(b)(1)(E) and 170(b)(2)(B))
18.Enhanced charitable deduction for contributions of 12/31/07
food inventory (sec. 170(e)(3)(C))
19.Enhanced charitable deduction for contributions of 12/31/07
book inventories to public schools (sec. 170(e)(3)(D))
20.Enhanced deduction for corporate contributions of 12/31/07
computer equipment for educational purposes (sec.
170(e)(6)(G))
21.Expensing of "brownfields" environmental remediation 12/31/07
costs (sec. 198(h))
22.Deduction allowable with respect to income 12/31/07
attributable to domestic production activities in
Puerto Rico (sec. 199(d)(7))
23.Archer medical savings accounts ("MSAs") (sec. 12/31/07
220(i)(2) and (3)(B))
24.Above-the-line deduction for qualified tuition and 12/31/07
related expenses (sec. 222(e))
25.Tax-free distributions from individual retirement 12/31/07
plans for charitable purposes (sec. 408(d)(8))
26.Special rule for sales or dispositions to implement 12/31/07
FERC or State electric restructuring policy (sec.
451(i)(3))
27.Modification of tax treatment of certain payments to 12/31/07
controlling exempt organizations (sec.
512(b)(13)(E)(iv))
28.Suspension of 100 percent-of-net-income on percentage 12/31/07
depletion for oil and gas from marginal wells (sec.
613A(c)(6)(H))
29.Treatment of certain dividends and assets of regulated 12/31/07
investment companies (secs. 871(k)(1)(C) and (2)(C),
881(e)(1)(A) and 2), 897(h)(4)(A)(ii), and 2105(d))
30.Basis adjustment to stock of S corporations making 12/31/07
charitable contributions of property (sec. 1367(a))
31.Qualified zone academy bonds . allocations of bond 12/31/07
authority (sec. 1397E(e)(1))
32.Tax incentives for investment in the District of
Columbia:
a. Designation of D.C. enterprise zone, employment tax 12/31/07
credit, and additional expensing (sec. 1400(f)(1))
b. Tax-exempt D.C. empowerment zone bonds (sec. 12/31/07
1400A(b))
c. Acquisition date for eligibility for zero-percent 12/31/07
capital gains rate for investment in D.C. for gains
through 12/31/12 (secs. 1400B(b)(2), (b)(3)(A),
(b)(4)(A)(i), (b)(4)(B)(i)(I), (e)(2), and (g)(2))
d. Tax credit for first-time D.C. homebuyers (sec. 12/31/07
1400C(i))
33.Definition of gross estate for regulated investment 12/31/07
company stock owned by a non resident not a citizen of
the United States (sec. 2105(d))
34.Disclosure of tax information to facilitate combined 12/31/07
employment tax reporting (sec. 6103(d)(5)(B))
35.Disclosure of return information to inform officials 12/31/07
of terrorist activities (sec. 6103(i)(3)(C)(iv))
36.Disclosure upon request of information relating to 12/31/07
terrorist activities (sec. 6103(i)(7)(E))
37.Disclosure of return information to carry out income 12/31/07
contingent repayment of student loans (sec.
6103(1)(13)(D))
38.Authority for undercover operations (sec. 7608(c)(6)) 12/31/07
39.Temporary increase in limit on cover over of rum 12/31/07
excise tax revenues (from $10.50 to $13.25 per proof
gallon) to Puerto Rico and the Virgin Islands (sec.
7652(f))
40.Tax on failure to comply with mental health parity 12/31/07
requirements applicable to group health plans (sec.
9812(f))4
41.American Samoa economic development credit (sec. 119 12/31/07
of Pub. L. No. 109-432)
3 The Economic Growth and Tax Relief Reconciliation Act of 2001 (Pub. L. No.
107-16, June 7, 2001) ("EGTRRA") made this provision permanent with respect to the
child tax credit and the adoption credit. The provisions of EGTRRA generally
sunset after 2010; see Part I.F., below. The allowance of the saver's credit
against regular tax and minimum tax is permanent.
4 Corresponding provisions are contained in section 712(f) of ERISA and section
2705(f) of the Public Health Service Act. These provisions also expire on December
31, 2007.
B. Provisions Expiring in 2008
___________________________________________________________________________________
Provision (Code section) Expiration Date
___________________________________________________________________________________
1. Airport and Airway Trust Fund excise taxes:
a. All but 4.3 cents per gallon of taxes on 2/29/08
noncommercial aviation kerosene and noncommercial
aviation gasoline (sec. 4081(d)(2)(B))5
b. Domestic and international air passenger ticket 2/29/08
taxes (sec. 4261(j)(1)(A)(ii))
c. Air cargo tax (sec. 4271(d)(1)(A)(ii)) 2/29/08
2. Reporting on certain acquisitions of interest in 8/17/08
insurance contracts in which certain exempt
organizations hold an interest (sec. 6050V)
3. Disclosure of tax return information for 9/30/08
administration of certain veterans programs (sec.
6103(l)(7)(D)(viii))
4. Credit for residential energy efficient property (sec. 12/31/08
25D(g))
5. Incentives for biodiesel and renewable diesel:
a. Income tax credits for biodiesel fuel, biodiesel 12/31/08
used to produce a qualified mixture, and small
agri-biodiesel producers (sec. 40A(g))
b. Income tax credits for renewable diesel fuel and 12/31/08
renewable diesel used to produce a qualified
mixture (sec. 40A(g))
c. Excise tax credits and outlay payments for 12/31/08
biodiesel fuel mixtures (secs. 6426(c)(6) and
6427(e)(5)(B))
d. Excise tax credits and outlay payments for 12/31/08
renewable diesel fuel mixtures (secs. 6426(c)(6)
and 6427(e)(5)(B))
6. Placed-in-service date for facilities eligible to 12/31/086
claim electricity production credit (sec. 45(d))
7. New markets tax credit (sec. 45D(f)(1)) 12/31/08
8. Credit for construction of new energy efficient homes 12/31/08
(sec. 45L(g))
9. Mine rescue team training credit (sec. 45N) 12/31/08
10.Increased credit for business solar energy property 12/31/08
(sec. 48(a)(2)(A)(i)(II))
11.Credit for hybrid solar lighting systems (sec. 12/31/08
48(a)(3)(A)(ii))
12.Credit for business installation of qualified fuel 12/31/08
cells and stationary microturbine power plants (sec.
48(c)(1)(E) and (c)(2)(E))
13.Issuance of clean renewable energy bonds (sec. 54(m)) 12/31/08
14.Five-year NOL carryback for certain electric utility 12/31/08
companies (sec. 172(b)(1)(I))
15.Energy efficient commercial buildings deduction (sec. 12/31/08
179D(h))
16.Election to expense advanced mine safety equipment 12/31/08
(sec. 179E)
17.Special expensing rules for certain film and 12/31/08
television productions (sec. 181(f))
18.Exceptions under subpart F for active financing income 12/31/08
(secs. 953(e)(10) and 954(h)(9))
19.Look-through treatment of payments between related 12/31/08
controlled foreign corporations under the foreign
personal holding company rules (sec. 954(c)(6))
20.FUTA surtax of 0.2 percent (sec. 3301(1)) 12/31/08
21.Special rate for qualified methanol or ethanol fuel 12/31/08
from coal (sec. 4041(b)(2)(D))
5 The 4.3-cents-per-gallon rate is permanent.
6 The placed-in-service date expired December 31, 2005, in the case of a qualified
facility using solar energy.
C. Provisions Expiring in 2009
___________________________________________________________________________________
Provision (Code section) Expiration Date
___________________________________________________________________________________
1. Qualified green buildings and sustainable design 9/30/09
project bonds (sec. 142(l)(8))
2. Incentives for alternative fuel and alternative fuel
mixtures (excluding liquefied hydrogen):7
a. Excise tax credits and outlay payments for 9/30/09
alternative fuel (secs. 6426(d)(4) and
6427(e)(5)(C))
b. Excise tax credits and outlay payments for 9/30/09
alternative fuel mixtures (secs. 6426(e)(3) and
6427(e)(5)(C))
3. Alternative motor vehicle credit for qualified hybrid 12/31/09
motor vehicles other than passenger automobiles and
light trucks (sec. 30B(j)(3))
4. Alternative fuel vehicle refueling property 12/31/09
(non-hydrogen refueling property) (sec. 30C(g)(2))8
5. Credit for small refiners for production of diesel 12/31/09
fuel in compliance with EPA sulfur regulations for
small refiners (sec. 45H(c)(4))
6. Placed-in-service date for eligibility for tax credit 12/31/09
for the production of coke or coke gas (sec.
45K(g)(1))
7. Discharge of indebtedness on principal residence 12/31/09
excluded from gross income of individuals (sec.
108(a)(1)(E))
8. Increase in expensing (sec. 179(b)(1) and (2), (c)(2), 12/31/09
and (d)(1)(A)(ii))
9. Expensing of capital costs incurred by small refiners 12/31/09
for production of diesel fuel in compliance with EPA
sulfur regulations for small refiners (sec. 179B(a))
10.Allowance of additional IRA contributions in certain 12/31/09
bankruptcy cases (sec. 219(b)(5)(C))
11.Exclusion of gain or loss on sale or exchange of 12/31/09
certain brownfield sites from unrelated business
taxable income (sec. 512(b)(19)(K))
12.Empowerment zone tax incentives:9
a. Increased exclusion of gain (attributable to 12/31/09
periods before 1/1/15) on the sale of qualified
business stock of an empowerment zone business
(secs. 1202(a)(2)(C) and 1391(d)(1)(A)(i))
b. Empowerment zone tax-exempt bonds (secs. 1394 and 12/31/09
1391(d)(1)(A)(i))
c. Empowerment zone employment credit (secs. 1396 and 12/31/09
1391(d)(1)(A)(i))
d. Increased expensing under sec. 179 (secs. 1397A and 12/31/09
1391(d)(1)(A)(i))
e. Nonrecognition of gain on rollover of empowerment 12/31/09
zone investments (secs. 1397B and 1391(d)(1)(A)(i))
13.Renewal community tax incentives:
a. Acquisition date for eligibility for zero-percent 12/31/09
capital gains rate for investment in renewal
communities for gains through 12/31/14 (secs.
1400F(b)(2)(A)(i), (3)(A), and (4)(A)(i),
1400F(c)(2), and 1400F(d))
b. Employment credit (secs. 1400H and 12/31/09
1391(d)(1)(A)(i))
c. Commercial revitalization deduction (sec. 1400I(g)) 12/31/09
d. Increased expensing under sec. 179 (sec. 12/31/09
1400J(b)(1)(A))
7 The related provisions for hydrogen fuel expire September 30, 2014.
8 The related provision of section 30C for hydrogen refueling property expires
December 31, 2014.
9 The empowerment zone tax incentives may expire earlier than December 31, 2009,
with respect to an empowerment zone 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.
D. Provisions Expiring in 2010
___________________________________________________________________________________
Provision (Code section) Expiration Date
___________________________________________________________________________________
1. Provisions of the Economic Growth and Tax Relief 12/31/10
Reconciliation Act of 200110 (Pub. L. No. 107-16)
2. Reduced capital gain rates (secs. 1(h) and 1445(e)(6) 12/31/10
and sec. 102 of Pub. L. No. 109-222)
3. Dividends taxed at capital gain rates (sec. 1(h) and 12/31/10
sec. 102 of Pub. L. No. 109-222))
4. Alternative motor vehicle credit for advanced lean 12/31/1011
burn technology motor vehicles and qualified hybrid
motor vehicles that are passenger automobiles or light
trucks (sec. 30B(j)(2))
5. Alternative motor vehicle credit for qualified 12/31/10
alternative fuel vehicles (sec. 30B(j)(4))
6. Incentives for alcohol fuels
a. Alcohol fuels income tax credit (alcohol fuel, 12/31/1012
alcohol used to produce a qualified mixture, and
small ethanol producers) (sec. 40(e)(1)(A), (h)(1),
and (h)(2))
b. Alcohol fuel mixture excise tax credit and outlay 12/31/10
payments (secs. 6426(b)(5) and 6427(e)(5)(A))
7. Exclusion of gain from sale of a principal residence 12/31/10
by certain employees of the intelligence community
(sec. 121(d)(9), and sec. 417 of Pub. L. No. 109-432)
8. Exclusion from income for benefits provided to 12/31/10
volunteer firefighters and emergency medical
responders (sec. 139B)
9. Premiums for mortgage insurance deductible as interest 12/31/10
that is qualified residence interest (sec. 163(h)(3))
10.Five-year amortization of music and music copyrights 12/31/10
(sec. 167(g)(8))
11.Natural gas distribution lines treated as 15-year 12/31/10
property (sec. 168(e)(3)(E)(viii))
10 The sunset applies to all provisions otherwise in effect on the expiration
date. Public Law 107-358 repealed the sunset contained in EGTRRA with respect to
the exclusion from Federal income tax for restitution received by victims of the
Nazi Regime. The Pension Protection Act of 2006, Pub. L. No. 109-280, repealed the
sunset contained in EGTRRA with respect to the pension and IRA provisions
contained in subtitles A through F of title VI of EGTRRA and with respect to the
qualified tuition program provisions in section 402 of EGTRRA.
11 In addition to this expiration date, the provision begins to phase out over a
one-year period beginning on the date the manufacturer has manufactured and sold
at least 60,000 qualified vehicles.
12 The income tax credit expires earlier if the tax rate on gasoline and other
motor fuels drops to 4.3 cents per gallon, which is currently scheduled to occur
after September 30, 2011, unless the Highway Trust Fund tax rates are extended
beyond that date.
E. Provisions Expiring in 2011
___________________________________________________________________________________
Provision (Code section) Expiration Date
___________________________________________________________________________________
1. Work opportunity tax credit (sec. 51(c)(4)) 8/31/11
2. Leaking Underground Storage Tank Trust Fund financing 9/30/11
rate (secs. 4041(d)(4) and 4081(d)(3))
3. Highway Trust Fund excise tax rates:
a. All but 4.3 cents per gallon of the taxes on 9/30/11
highway gasoline, diesel fuel, kerosene, and
alternative fuels (secs. 4041(a) and 4081(d)(1))
b. Reduced rate of tax on partially exempt methanol or 9/30/11
ethanol fuel (sec. 4041(m))13
c. Tax on retail sale of heavy highway vehicles (sec. 9/30/11
4051(c))
d. Tax on heavy truck tires (sec. 4071(d)) 9/30/11
e. Annual use tax on heavy highway vehicles (sec. 9/30/11
4481(f))
4. Placed-in-service date for partial expensing of 12/31/11
certain refinery property (sec. 179C(c)(1))14
13 After September 30, 2011, 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.
14 The commencement of construction date is December 31, 2007.
F. Provisions Expiring in 2012
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Credit for prior year minimum tax liability made 12/31/12
refundable after period of years (sec. 53(e))
2. Special depreciation allowance for cellulosic biomass 12/31/12
ethanol plant property (sec. 168(l))
G. Provisions Expiring in 2013
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Transfer of excess pension assets to retiree health 12/31/13
accounts (sec. 420(b)(5))
H. Provisions Expiring in 2014
___________________________________________________________________________________
Provision (Code section) Expiration Date
___________________________________________________________________________________
1. Increase in amount of excise tax on coal (sec. 1/01/1415
4121(e)(2))
2. Incentives for alternative fuel and alternative fuel
mixtures involving liquefied hydrogen:
a. Excise tax credits and outlay payments for 9/30/14
liquefied hydrogen (secs. 6426(d)(4) and
6427(e)(5)(D))16
b. Excise tax credits and outlay payments for 9/30/14
liquefied hydrogen fuel mixtures (secs. 6426(e)(3)
and 6427(e)(5)(D))
3. Alternative motor vehicle credit for qualified fuel 12/31/14
cell motor vehicles (sec. 30B(j)(1))
4. Alternative fuel refueling property (hydrogen 12/31/14
refueling property) (sec. 30C(g)(1))17
5. Automatic amortization extension for multiemployer 12/31/14
defined benefit pension plans (sec. 431(d)(1)(C))18
6. Additional funding rules for multiemployer defined 12/31/14
benefit pension plans in endangered or critical status
(sec. 432, and sec. 221(c) of Pub. L. No. 109-280)19
7. Oil Spill Liability Trust Fund financing rate (sec. 12/31/14
4611(f)(3))
8. Deemed approval of adoption, use or cessation of 12/31/14
shortfall funding method for multiemployer defined
benefit pension plans (secs. 201(b) and 221(c) of Pub.
L. No. 109-280)
15 The increased amount of the excise tax on coal terminates the earlier of this
date or the first January 1 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.
16 Related provisions for non-hydrogen fuel expire September 30, 2009.
17 The related provision of section 30C for non-hydrogen refueling property
expires December 31, 2009.
18 A corresponding provision is contained in section 304(d)(1)(C) of ERISA that
also expires on December 31, 2014.
19 A corresponding provision is contained in section 305 of ERISA that also
expires on December 31, 2014.
I. Provisions Expiring in 2015
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Certification award date for eligibility for the 9/30/15
qualifying gasification project credit (sec. 48B(d)(2))
J. Provisions Expiring in 2020
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Placed-in-service date for eligibility for the credit 12/31/20
for production from certified advanced nuclear power
facilities (sec. 45J(d)(1)(B))
II. TEMPORARY DISASTER RELIEF FEDERAL TAX PROVISIONS EXPIRING 2007-2010
A. Temporary Disaster Relief Federal Tax Provisions that Expired in 2007
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Payments by charitable organizations with respect to 5/31/07
firefighters who died as a result of the October 2006
Esperanza Incident fire treated as exempt payments
(Pub. L. No. 109-445)
2. Work opportunity tax credit with respect to certain 8/27/07
individuals affected by Hurricane Katrina for employers
inside disaster areas (sec. 201 of Pub. L. No. 109-73)
3. Placed-in-service date for additional depreciation for 12/31/0720
certain Gulf Opportunity Zone property other than
nonresidential real property and residential rental
property (sec. 1400N(d)(2))
4. Increase in expensing under section 179 for certain 12/31/0721
Gulf Opportunity Zone property (sec. 1400N(e))
5. Expensing for certain demolition and cleanup costs in 12/31/07
the Gulf Opportunity Zone (sec. 1400N(f))
6. Expensing for environmental remediation costs (sec. 12/3107
1400N(g))
7. Increased expensing for qualified timber property in 12/31/07
the Gulf Opportunity Zone, Rita GO Zone, or Wilma GO
Zone (sec. 1400N(i)(1))
8. Five-year NOL carryback period for NOLs attributable to 12/31/07
Gulf Opportunity Zone losses with respect to certain
moving expenses (sec. 1400N(k))
9. Increase in new markets tax credit limitation with 12/31/07
respect to community development entities, the mission
of which is the recovery and redevelopment of the Gulf
Opportunity Zone (sec. 1400N(m))
20 The placed-in-service date is December 31, 2008, for nonresidential real
property and residential rental property. In addition, certain Gulf Opportunity
Zone property located in counties with greater than 50 percent housing damage are
eligible for an extended placed-in-service date of December 31, 2010 subject to a
progress expenditures limit.
21 The placed-in-service date is December 31, 2008, for nonresidential real
property and residential rental property, and certain property substantially all of
the use of which is in one or more specified portions of the GO Zone (as defined by
subsection (d)(6)).
B. Temporary Disaster Relief Federal Tax Provisions Expiring in 2008
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Special rule for applying income tests in 12/31/08
non-metropolitan areas under low-income housing credit
for the Gulf Opportunity Zone, the Rita GO Zone, and
the Wilma GO Zone (sec. 1400N(c)(4))22
2. Placed-in-service date for additional depreciation for 12/31/0823
certain Gulf Opportunity Zone property that is
nonresidential real property and residential rental
property (sec. 1400N(d)(2))
3. Increase in expensing under section 179 for certain 12/31/08
Gulf Opportunity Zone property (secs. 1400N(e))
4. Increase in rehabilitation credit for structures 12/31/08
located in the Gulf Opportunity Zone (sec. 1400N(h))
22 The low-income housing credit additional 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 expire December 31, 2010.
23 Certain Gulf Opportunity Zone property located in counties with greater than 50
percent housing damage are eligible for an extended placed-in-service date of
December 31, 2010, subject to a progress expenditures limit.
C. Temporary Disaster Relief Federal Tax Provisions Expiring in 2009
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. New York Liberty Zone: tax-exempt bond financing (sec. 12/31/09
1400L(d)(2)(D))
D. Temporary Disaster Relief Federal Tax Provisions Expiring in 2010
____________________________________________________________________________________
Provision (Code section) Expiration Date
____________________________________________________________________________________
1. Tax-exempt bond financing for the Gulf Opportunity Zone 12/31/10
(sec. 1400N(a))
2. Advance refunding of certain tax-exempt bonds (sec. 12/31/10
1400N(b))
3. Low-income housing credit additional housing credit 12/31/10
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 depreciation for 12/31/1024
specified Gulf Opportunity Zone extension property
(sec. 1400N(d)(6))
5. Treatment of residences located in the Gulf Opportunity 12/31/10
Zone, the Rita Go Zone, or the Wilma Go Zone as
targeted area residences for purposes of mortgage
revenue bond rules (sec. 1400T)
6. Waiver of first-time homebuyer rule for qualified 12/31/10
Hurricane Katrina residences financed with mortgage
revenue bonds (sec. 104 of Pub. L. No. 109-135)
24 Certain personal property may qualify if placed in service within 90 days
following the December 31, 2010 deadline.
1 This document may be cited as follows: Joint Committee on Taxation, List of Expiring Federal Tax Provisions, 2007-2020 (JCX-1-08), January 11, 2008.
2 Not including temporary disaster relief Federal tax provisions, which are listed in Part II.
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