Page:United States Statutes at Large Volume 118.djvu/1449

 118 STAT. 1419 PUBLIC LAW 108–357—OCT. 22, 2004 Sec. 237. Exclusion of investment securities income from passive income test for bank S corporations. Sec. 238. Relief from inadvertently invalid qualified subchapter S subsidiary elec tions and terminations. Sec. 239. Information returns for qualified subchapter S subsidiaries. Sec. 240. Repayment of loans for qualifying employer securities. Subtitle E—Other Business Incentives Sec. 241. Phaseout of 4.3 cent motor fuel excise taxes on railroads and inland wa terway transportation which remain in general fund. Sec. 242. Modification of application of income forecast method of depreciation. Sec. 243. Improvements related to real estate investment trusts. Sec. 244. Special rules for certain film and television productions. Sec. 245. Credit for maintenance of railroad track. Sec. 246. Suspension of occupational taxes relating to distilled spirits, wine, and beer. Sec. 247. Modification of unrelated business income limitation on investment in certain small business investment companies. Sec. 248. Election to determine corporate tax on certain international shipping ac tivities using per ton rate. Subtitle F—Stock Options and Employee Stock Purchase Plan Stock Options Sec. 251. Exclusion of incentive stock options and employee stock purchase plan stock options from wages. TITLE III—TAX RELIEF FOR AGRICULTURE AND SMALL MANUFACTURERS Subtitle A—Volumetric Ethanol Excise Tax Credit Sec. 301. Alcohol and biodiesel excise tax credit and extension of alcohol fuels in come tax credit. Sec. 302. Biodiesel income tax credit. Sec. 303. Information reporting for persons claiming certain tax benefits. Subtitle B—Agricultural Incentives Sec. 311. Special rules for livestock sold on account of weather related conditions. Sec. 312. Payment of dividends on stock of cooperatives without reducing patronage dividends. Sec. 313. Apportionment of small ethanol producer credit. Sec. 314. Coordinate farmers and fishermen income averaging and the alternative minimum tax. Sec. 315. Capital gain treatment under section 631(b) to apply to outright sales by landowners. Sec. 316. Modification to cooperative marketing rules to include value added proc essing involving animals. Sec. 317. Extension of declaratory judgment procedures to farmers’ cooperative or ganizations. Sec. 318. Certain expenses of rural letter carriers. Sec. 319. Treatment of certain income of cooperatives. Sec. 320. Exclusion for payments to individuals under National Health Service Corps loan repayment program and certain State loan repayment pro grams. Sec. 321. Modification of safe harbor rules for timber REITs. Sec. 322. Expensing of certain reforestation expenditures. Subtitle C—Incentives for Small Manufacturers Sec. 331. Net income from publicly traded partnerships treated as qualifying in come of regulated investment companies. Sec. 332. Simplification of excise tax imposed on bows and arrows. Sec. 333. Reduction of excise tax on fishing tackle boxes. Sec. 334. Sonar devices suitable for finding fish. Sec. 335. Charitable contribution deduction for certain expenses incurred in sup port of Native Alaskan subsistence whaling. Sec. 336. Modification of depreciation allowance for aircraft. Sec. 337. Modification of placed in service rule for bonus depreciation property. Sec. 338. Expensing of capital costs incurred in complying with Environmental Pro tection Agency sulfur regulations. Sec. 339. Credit for production of low sulfur diesel fuel. Sec. 340. Expansion of qualified small issue bond program. Sec. 341. Oil and gas from marginal wells. TITLE IV—TAX REFORM AND SIMPLIFICATION FOR UNITED STATES BUSINESSES Sec. 401. Interest expense allocation rules.

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