EXTENSION OF PAYROLL TAX REDUCTION.

SEC. 1001. EXTENSION OF PAYROLL TAX REDUCTION. (a) In General.—Subsection (c) of section 601 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (26 U.S.C. 1401 note) is amended to read as follows: “(c) Payroll Tax Holiday Period. The term ‘payroll tax holiday period’ means calendar years 2011 and 2012.” . (b) Conforming Amendments.—Section 601 of such Act (26 U.S.C. 1401 note) is amended by striking subsections (f) and (g). (c) [26 U.S.C. 1401 note] Effective Date.—The amendments made by this section shall apply to remuneration received, and taxable years beginning, after December 31, 2011.