SHORT TITLE, ETC.

SECTION 1. SHORT TITLE, ETC.(a) Short Title.—This division may be cited as the “Tax Increase Prevention Act of 2014”.(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: DIVISION A— TAX INCREASE PREVENTION ACT OF 2014 Sec. 1. Short title, etc. TITLE I— CERTAIN EXPIRING PROVISIONS Subtitle A— Individual Tax Extenders Sec. 101. Extension of deduction for certain expenses of elementary and secondary school teachers. Sec. 102. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness. Sec. 103. Extension of parity for employer-provided mass transit and parking benefits. Sec. 104. Extension of mortgage insurance premiums treated as qualified residence interest. Sec. 105. Extension of deduction of State and local general sales taxes. Sec. 106. Extension of special rule for contributions of capital gain real property made for conservation purposes. Sec. 107. Extension of above-the-line deduction for qualified tuition and related expenses. Sec. 108. Extension of tax-free distributions from individual retirement plans for charitable purposes. Subtitle B— Business Tax Extenders Sec. 111. Extension of research credit. Sec. 112. Extension of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings. Sec. 113. Extension of military housing allowance exclusion for determining whether a tenant in certain counties is low-income.128 STAT. 4011 Sec. 114. Extension of Indian employment tax credit. Sec. 115. Extension of new markets tax credit. Sec. 116. Extension of railroad track maintenance credit. Sec. 117. Extension of mine rescue team training credit. Sec. 118. Extension of employer wage credit for employees who are active duty members of the uniformed services. Sec. 119. Extension of work opportunity tax credit. Sec. 120. Extension of qualified zone academy bonds. Sec. 121. Extension of classification of certain race horses as 3-year property. Sec. 122. Extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements. Sec. 123. Extension of 7-year recovery period for motorsports entertainment complexes. Sec. 124. Extension of accelerated depreciation for business property on an Indian reservation. Sec. 125. Extension of bonus depreciation. Sec. 126. Extension of enhanced charitable deduction for contributions of food inventory. Sec. 127. Extension of increased expensing limitations and treatment of certain real property as section 179 property. Sec. 128. Extension of election to expense mine safety equipment. Sec. 129. Extension of special expensing rules for certain film and television productions. Sec. 130. Extension of deduction allowable with respect to income attributable to domestic production activities in Puerto Rico. Sec. 131. Extension of modification of tax treatment of certain payments to controlling exempt organizations. Sec. 132. Extension of treatment of certain dividends of regulated investment companies. Sec. 133. Extension of RIC qualified investment entity treatment under FIRPTA. Sec. 134. Extension of subpart F exception for active financing income. Sec. 135. Extension of look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules. Sec. 136. Extension of temporary exclusion of 100 percent of gain on certain small business stock. Sec. 137. Extension of basis adjustment to stock of S corporations making charitable contributions of property. Sec. 138. Extension of reduction in S-corporation recognition period for built-in gains tax. Sec. 139. Extension of empowerment zone tax incentives. Sec. 140. Extension of temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands. Sec. 141. Extension of American Samoa economic development credit. Subtitle C— Energy Tax Extenders Sec. 151. Extension of credit for nonbusiness energy property. Sec. 152. Extension of second generation biofuel producer credit. Sec. 153. Extension of incentives for biodiesel and renewable diesel. Sec. 154. Extension of production credit for Indian coal facilities placed in service before 2009. Sec. 155. Extension of credits with respect to facilities producing energy from certain renewable resources. Sec. 156. Extension of credit for energy-efficient new homes. Sec. 157. Extension of special allowance for second generation biofuel plant property. Sec. 158. Extension of energy efficient commercial buildings deduction. Sec. 159. Extension of special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities. Sec. 160. Extension of excise tax credits relating to certain fuels. Sec. 161. Extension of credit for alternative fuel vehicle refueling property. Subtitle D— Extenders Relating to Multiemployer Defined Benefit Pension Plans Sec. 171. Extension of automatic extension of amortization periods. Sec. 172. Extension of shortfall funding method and endangered and critical rules. TITLE II— TECHNICAL CORRECTIONS Sec. 201. Short title. Sec. 202. Amendments relating to American Taxpayer Relief Act of 2012. Sec. 203. Amendment relating to Middle Class Tax Relief and Job Creation Act of 2012.128 STAT. 4012 Sec. 204. Amendment relating to FAA Modernization and Reform Act of 2012. Sec. 205. Amendments relating to Regulated Investment Company Modernization Act of 2010. Sec. 206. Amendments relating to Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Sec. 207. Amendments relating to Creating Small Business Jobs Act of 2010. Sec. 208. Clerical amendment relating to Hiring Incentives to Restore Employment Act. Sec. 209. Amendments relating to American Recovery and Reinvestment Tax Act of 2009. Sec. 210. Amendments relating to Energy Improvement and Extension Act of 2008. Sec. 211. Amendments relating to Tax Extenders and Alternative Minimum Tax Relief Act of 2008. Sec. 212. Clerical amendments relating to Housing Assistance Tax Act of 2008. Sec. 213. Amendments and provision relating to Heroes Earnings Assistance and Relief Tax Act of 2008. Sec. 214. Amendments relating to Economic Stimulus Act of 2008. Sec. 215. Amendments relating to Tax Technical Corrections Act of 2007. Sec. 216. Amendment relating to Tax Relief and Health Care Act of 2006. Sec. 217. Amendment relating to Safe, Accountable, Flexible, Efficient Transportation Equity Act of 2005: A Legacy for Users. Sec. 218. Amendments relating to Energy Tax Incentives Act of 2005. Sec. 219. Amendments relating to American Jobs Creation Act of 2004. Sec. 220. Other clerical corrections. Sec. 221. Deadwood provisions. TITLE III— JOINT COMMITTEE ON TAXATION Sec. 301. Increased refund and credit threshold for Joint Committee on Taxation review of C corporation return. TITLE IV— BUDGETARY EFFECTS Sec. 401. Budgetary effects. DIVISION B— ACHIEVING A BETTER LIFE EXPERIENCE ACT OF 2014 Sec. 1. Short title; etc. TITLE I— QUALIFIED ABLE PROGRAMS Sec. 101. Purposes. Sec. 102. Qualified ABLE programs. Sec. 103. Treatment of ABLE accounts under certain Federal programs. Sec. 104. Treatment of ABLE accounts in bankruptcy. Sec. 105. Investment direction rule for 529 plans. TITLE II— OFFSETS Sec. 201. Correction to workers compensation offset age. Sec. 202. Accelerated application of relative value targets for misvalued services in the Medicare physician fee schedule. Sec. 203. Consistent treatment of vacuum erection systems in Medicare Parts B and D. Sec. 204. One-year delay of implementation of oral-only policy under Medicare ESRD prospective payment system. Sec. 205. Modification relating to Inland Waterways Trust Fund financing rate. Sec. 206. Certified professional employer organizations. Sec. 207. Exclusion of dividends from controlled foreign corporations from the definition of personal holding company income for purposes of the personal holding company rules. Sec. 208. Inflation adjustment for certain civil penalties under the Internal Revenue Code of 1986. Sec. 209. Increase in continuous levy.