SHORT TITLE; ETC.

SEC. 13001. SHORT TITLE; ETC. (a) Short Title.— This chapter may be cited as the “Revenue Reconciliation Act of 1993”. (b) Amendment to 1986 Code.— Except as otherwise expressly provided, whenever in this chapter 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) Section 15 Not To Apply.— Except in the case of the amendments made by section 13221 (relating to corporate rate increase), no amendment made by this chapter shall be treated as a change in a rate of tax for purposes of section 15 of the Internal Revenue Code of 1986. (d) Waiver of Estimated Tax Penalties.— No addition to tax shall be made under section 6654 or 6655 of the Internal Revenue Code of 1986 for any period before April 16, 1994 (March 16, 1994, in the case of a corporation), with respect to any underpayment to the extent such underpayment was created or increased by any provision of this chapter. 107 STAT. 417 (e) Table of Contents.— CHAPTER 1—REVENUE PROVISIONS Sec. 13001. Short title; etc. Subchapter A—Training and Investment Incentives Part I—Provisions Relating to Education and Training Sec. 13101. Employer-provided educational assistance. Sec. 13102. Targeted jobs credit Part II—Investment Incentives subpart a—research and clinical testing credits Sec. 13111. Extension of research and clinical testing credits. Sec. 13112. Modification of fixed base percentage for startup companies. subpart b—capital gain provisions Sec. 13113. 60-percent exclusion for gain from certain small business stock. Sec. 13114. Rollover of gain from sale of publicly traded securities into specialized small business investment companies. subpart c—modification to minimum tax depreciation rules Sec. 13116. Modification to minimum tax depreciation rules. subpart d—increase in expense treatment for small businesses Sec. 13116. Increase in expense treatment for small businesses. subpart e—tax exempt bonds Sec. 13121. High-speed intercity rail facility bonds exempt from State volume cap. Sec. 13122. Permanent extension of qualified small issue bonds. Part III—Expansion and Simplification of Earned Income Tax Credit Sec. 13131. Expansion and simplification of earned income tax credit. Part IV—Incentives for Investment in Real Estate subpart a—extension of qualified mortgage bonds and low-income housing credit Sec. 13141. Permanent extension of qualified mortgage bonds. Sec. 13142. Low-income housing credit. subpart b—passive loss rules Sec. 13143. Application of passive loss rules to rental real estate activities. subpart c—provisions relating to real estate investments by pension funds Sec. 13144. Real estate property acquired by a qualified organization. Sec. 13146. Repeal of special treatment of publicly treated partnerships. Sec. 13146. Title-holding companies permitted to receive small amounts of unrelated business taxable income. Sec. 13147. Exclusion from unrelated business tax of gains from certain property. Sec. 13148. Exclusion from unrelated business tax of certain fees and option premiums. Sec. 13149. Treatment of pension fund investments in real estate investment trusts. subpart d—discharge of indebtedness Sec. 13150. Exclusion from gross income for income from discharge of qualified real property business indebtedness. subpart e—increase in recovery period for nonresidential real property Sec. 13161. Increase in recovery period for nonresidential real property. Part V—Luxury Tax Sec. 13161. Repeal of luxury excise taxes other than on passenger vehicles. Sec. 13162. Exemption from luxury excise tax for certain equipment installed on passenger vehicles for use by disabled individuals. Sec. 13163. Tax on diesel fuel used in noncommercial boats. Part VI—Other Changes Sec. 13171. Alternative minimum tax treatment of contributions of appreciated property. 107 STAT. 418 Sec. 13172. Substantiation requirement for deduction of certain charitable contributions. Sec. 13173. Disclosure related to quid pro quo contributions. Sec. 13174. Temporary extension of deduction for health insurance costs of self-employed individuals. Subchapter B—Revenue Increases Part I—Provisions Affecting Individuals SUBPART A—RATE INCREASES Sec. 13201. Increase in top marginal rate under section 1. Sec. 13202. Surtax on high-income taxpayers. Sec. 13203. Modifications to alternative minimum tax rates and exemption amounts. Sec. 13204. Overall limitation on itemized deductions for high-income taxpayers made permanent. Sec. 13206. Phaseout of personal exemption of high-income taxpayers made permanent. Sec. 13206. Provisions to prevent conversion of ordinary income to capital gain. SUBPART B—-OTHER PROVISIONS Sec. 13207. Repeal of limitation on amount of wages subject to health insurance employment tax. Sec. 13208. Top estate and gift tax rates made permanent. Sec. 13209. Reduction in deductible portion of business meals and entertainment. Sec. 13210. Elimination of deduction for club membership fees. Sec. 13211. Disallowance of deduction for certain employee remuneration in excess of $1,000,000. Sec. 13212. Reduction in compensation taken into account in determining contributions and benefits under qualified retirement plans. Sec. 13213. Modifications to deduction for moving expenses. Sec. 13214. Simplification of individual estimated tax safe harbor based on last year’s tax. Sec. 13215. Social security and tier 1 railroad retirement benefits. Part II—Provisions Affecting Businesses Sec. 13221. Increase in top marginal rate under section 11. Sec. 13222. Denial of deduction for lobbying expenses. Sec. 13223. Mark to market accounting method for securities dealers. Sec. 13224. Clarification of treatment of certain FSLIC financial assistance. Sec. 13225. Modification of corporate estimated tax rules. Sec. 13226. Modifications of discharge of indebtedness provisions. Sec. 13227. Limitation on section 936 credit Sec. 13228. Modification to limitation on deduction for certain interest Part III—Foreign Tax Provisions subpart a—current taxation of certain earnings of controlled foreign corporations Sec. 13231. Earnings invested in excess passive assets. Sec. 13232. Modification to taxation of investment in United States property. Sec. 13233. Other modifications to subpart F. subpart b—allocation of research and experimental expenditures Sec. 13234. Allocation of research and experimental expenditures. subpart c—other provisions Sec. 13235. Repeal of certain exceptions for working capital. Sec. 13236. Modifications of accuracy-related penalty. Sec. 13237. Denial of portfolio interest exemption for contingent interest Sec. 13238. Regulations dealing with conduit arrangements. Sec. 13239. Treatment of export of certain softwood logs. Part IV—Transportation Fuels Provisions subpart a—transportation fuels tax Sec. 13241. Transportation fuels tax. subpart b—modifications to tax on diesel fuel Sec. 13242. Modifications to tax on diesel fuel. Sec. 13243. Floor stocks tax. 107 STAT. 419 subpart c—other provisions Sec. 13244. Increased deposits into Mass Transit Account Sec. 13245. Floor stocks tax on aviation fuel held on October 1, 1995. Part V—Compliance Provisions Sec. 13251. Modifications to substantial understatement penalty. Sec. 13252. Returns relating to the cancellation of indebtedness by certain financial entities. Part VI—Treatment op Intangibles Sec. 13261. Amortization of goodwill and certain other intangibles. Sec. 13262. Treatment of certain payments to retired or deceased partner. Part VII—Miscellaneous Provisions Sec. 13271. Disallowance of interest on certain overpayments of tax. Sec. 13272. Denial of deduction relating to travel expenses. Sec. 13273. Increase in withholding from supplemental wage payments. Subchapter C—Empowerment Zones, Enterprise Communities, Rural Development Investment Areas, Etc. Part I—Empowerment Zones, Enterprise Communities, and Rural Development Investment Areas Sec. 13301. Designation and treatment of empowerment zones, enterprise communities, and rural development investment areas. Sec. 13302. Technical and conforming amendments. Sec. 13303. Effective date. Part II—Credit for Contributions to Certain Community Development Corporations Sec. 13311. Credit for contributions to certain community development corporations. Part III—Investment in Indian Reservations Sec. 13321. Accelerated depreciation for property on Indian reservations. Sec. 13322. Indian employment credit Subchapter D—Other Provisions Part I—Disclosure Provisions Sec. 13401. Disclosure of return information for administration of certain veterans programs. Sec. 13402. Disclosure of return information to carry out income contingent repayment of student loans. Sec. 13403. Use of return information for income verification under certain housing assistance programs. Part II—Public Debt Limit Sec. 13411. Increase in public debt limit Part III—Vaccine Provisions Sec. 13421. Excise tax on certain vaccines made permanent Sec. 13422. Continuation coverage under group health plans of costs of pediatric vaccines. Part IV—Disaster Relief Provisions Sec. 13431. Modification of involuntary conversion rules for certain disaster-related conversions. Part V—Miscellaneous Provisions Sec. 13441. Increase in presidential election campaign check-off. Sec. 13442 Special rule for hospital services. Sec. 13443. Credit for portion of employer social security taxes paid with respect to employee cash tips. Sec. 13444. Availability and use of death information.