Omnibus Budget Reconciliation Act of 1990/Title XI

{{SECTION|SEC. 11001.|SEC. 11001}}. SHORT TITLE; ETC.

 * (a) .—
 * This title may be cited as the ``Revenue Reconciliation Act of 1990´´.


 * (b) .—
 * Except as otherwise expressly provided, whenever in this title 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) .—
 * Except as otherwise expressly provided in this title, no amendment made by this title shall be treated as a change in a rate of tax for purposes of section 15 of the Internal Revenue Code of 1986.


 * (d) .—

TITLE XI—REVENUE PROVISIONS


 * Sec. 11001. Short Title; Etc.


 * Subtitle A — Individual Income Tax Provisions
 * 
 * Sec. 11101. Elimination of provision reducing marginal tax rate for high-income taxpayers.
 * Sec. 11102. Increase in rate of individual alternative minimum tax.
 * Sec. 11103. Overall limitation on itemized deductions.
 * Sec. 11104. Phaseout of personal exemptions.


 * 
 * Sec. 11111. Modifications of earned income tax credit.
 * Sec. 11112. Requirement of identifying number for certain dependents.
 * Sec. 11113. Study of advance payments.
 * Sec. 11114. Program to increase public awareness.
 * Sec. 11115. Exclusion from income and resources of earned income tax credit under titles IV, XVI, and XIX of the Social Security Act.
 * Sec. 11116. Coordination with refund provision.


 * Subtitle B — Excise Taxes
 * 
 * Sec. 11201. Patent and Trademark Office User Fees.
 * Sec. 11202. Federal Agency Status.
 * Sec. 11203. Effect on Other Law.


 * 
 * Sec. 11211. Increase and extension of highway-related taxes and trust fund.
 * Sec. 11212. Improvements in administration of gasoline excise tax.
 * Sec. 11213. Increase and extension of aviation-related taxes and trust fund; repeal of reduction in rates.
 * Sec. 11214. Increase in harbor maintenance tax.
 * Sec. 11215. Extension of Leaking Underground Storage Tank Trust Fund taxes.
 * Sec. 11216. Amendments to gas guzzler tax.
 * Sec. 11217. Telephone excise tax modified and made permanent.
 * Sec. 11218. Floor stocks tax treatment of articles in foreign trade zones.


 * 
 * Sec. 11221. Taxes on Luxury Items.


 * 
 * Sec. 11231. 4-Year Extension of Hazardous Substance Superfund.


 * Subtitle C — Other Revenue Increases
 * 
 * 
 * Sec. 11301. Capitalization of policy acquisition expenses.
 * Sec. 11302. Treatment of certain nonlife reserves of life insurance companies.
 * Sec. 11303. Treatment of life insurance reserves of insurance companies which are not life insurance companies.


 * 
 * Sec. 11305. Treatment of salvage recoverable.


 * 
 * Sec. 11307. Waiver of estimated tax penalties.


 * 
 * Sec. 11311. Suspension of statute of limitations during proceedings to enforce certain summonses.
 * Sec. 11312. Accuracy-related penalty to apply to section 482 adjustments.
 * Sec. 11313. Treatment of persons providing services.
 * Sec. 11314. Application of amendments made by section 7403 of Revenue Reconciliation Act of 1989 to taxable years beginning on or before July 10, 1989.
 * Sec. 11315. Other reporting requirements.
 * Sec. 11316. Study of section 482.
 * Sec. 11317. 10-year period of limitation on collection after assessment.
 * Sec. 11318. Return requirement where cash received in trade or business.
 * Sec. 11319. 5-year extension of Internal Revenue Service user fees.


 * 
 * Sec. 11321. Recognition of gain by distributing corporation in certain section 355 transactions.
 * Sec. 11322. Modifications to regulations issued under section 305(c).
 * Sec. 11323. Modifications to section 1060.
 * Sec. 11324. Modification to corporation equity reduction limitations on net operating loss carrybacks.
 * Sec. 11325. Issuance of debt or stock in satisfaction of indebtedness.


 * 
 * Sec. 11331. Increase in dollar limitation on amount of wages subject to hospital insurance tax.
 * Sec. 11332. Coverage of certain State and local employees under social security.
 * Sec. 11333. Extension of FUTA surtax.
 * Sec. 11334. Deposits of payroll taxes.


 * 
 * Sec. 11341. Increase in rate of interest payable on large corporate underpayments.
 * Sec. 11342. Denial of deduction for unnecessary cosmetic surgery.
 * Sec. 11343. Special rules where grantor of trust is a foreign person.
 * Sec. 11344. Treatment of contributions of appreciated property under minimum tax.


 * Subtitle D — 1-Year Extension of Certain Expiring Tax Provisions
 * Sec. 11401. Allocation of research and experimental expenditures.
 * Sec. 11402. Research credit.
 * Sec. 11403. Employer-provided educational assistance.
 * Sec. 11404. Group legal services plans.
 * Sec. 11405. Targeted jobs credit.
 * Sec. 11406. Energy investment credit for solar and geothermal property.
 * Sec. 11407. Low-income housing credit.
 * Sec. 11408. Qualified mortgage bonds.
 * Sec. 11409. Qualified small issue bonds.
 * Sec. 11410. Health insurance costs of self-employed individuals.
 * Sec. 11411. Expenses for drugs for rare conditions.


 * Subtitle E — Energy Incentives
 * 
 * Sec. 11501. Extension and modification of credit for producing fuel from nonconventional source.
 * Sec. 11502. Credit for small producers of ethanol; modification of alcohol fuels credit.


 * 
 * Sec. 11511. Tax credit for enhanced oil recovery.


 * 
 * Sec. 11521. Percentage depletion permitted after transfer of proven property.
 * Sec. 11522. Net income limitation on percentage depletion increased from 50 percent to 100 percent of property net income for oil and gas properties.
 * Sec. 11523. Increase in percentage depletion allowance for marginal production.


 * 
 * Sec. 11531. Special energy deduction for minimum tax.


 * Subtitle F — Small Business Incentives
 * 
 * Sec. 11601. Repeal of section 2036(c).
 * Sec. 11602. Special valuation rules.


 * 
 * Sec. 11611. Credit for cost of providing access for disabled individuals.


 * 
 * Sec. 11621. Review of impact of regulations on small business.
 * Sec. 11622. Graphic presentation of major categories of Federal outlays and income.


 * Subtitle G — Tax Technical Corrections
 * Sec. 11700. Coordination with other subtitles.
 * Sec. 11701. Amendments related to Revenue Reconciliation Act of 1989.
 * Sec. 11702. Amendments related to Technical and Miscellaneous Revenue Act of 1988.
 * Sec. 11703. Miscellaneous amendments.
 * Sec. 11704. Miscellaneous clerical changes.


 * Subtitle H — Repeal of Expired or Obsolete Provisions
 * 
 * 
 * Sec. 11801. Repeal of expired or obsolete provisions.
 * Sec. 11802. Miscellaneous provisions.


 * 
 * Sec. 11811. Elimination of expired provisions in section 172.
 * Sec. 11812. Elimination of obsolete provisions in section 167.
 * Sec. 11813. Elimination of expired or obsolete investment tax credit provisions.
 * Sec. 11814. Elimination of obsolete provisions in section 243(b).
 * Sec. 11815. Elimination of expired provisions in percentage depletion.
 * Sec. 11816. Elimination of expired provisions in section 29.


 * 
 * Sec. 11821. Effective Date.


 * 
 * Sec. 11831. Extension of date for filing reports on certain studies.
 * Sec. 11832. Repeal of certain studies.
 * Sec. 11833. Modifications to study of Americans working abroad.
 * Sec. 11834. Increase in threshold for joint committee reports on refunds and credits.


 * Subtitle I — Public Debt Limit
 * Sec. 11901. Increase in public debt limit.