Page:United States Statutes at Large Volume 119.djvu/2625

 PUBLIC LAW 109–135—DEC. 21, 2005

119 STAT. 2607

‘‘(ii) the earned income of the taxpayer for the preceding taxable year shall be the sum of the earned income of each spouse for such preceding taxable year. ‘‘(B) UNIFORM APPLICATION OF ELECTION.—Any election made under paragraph (1) shall apply with respect to both sections 24(d) and section 32. ‘‘(C) ERRORS TREATED AS MATHEMATICAL ERROR.—For purposes of section 6213, an incorrect use on a return of earned income pursuant to paragraph (1) shall be treated as a mathematical or clerical error. ‘‘(D) NO EFFECT ON DETERMINATION OF GROSS INCOME, ETC.—Except as otherwise provided in this subsection, this title shall be applied without regard to any substitution under paragraph (1). ‘‘(e) SECRETARIAL AUTHORITY TO MAKE ADJUSTMENTS REGARDING TAXPAYER AND DEPENDENCY STATUS.—With respect to taxable years beginning in 2005 or 2006, the Secretary may make such adjustments in the application of the internal revenue laws as may be necessary to ensure that taxpayers do not lose any deduction or credit or experience a change of filing status by reason of temporary relocations by reason of Hurricane Katrina, Hurricane Rita, or Hurricane Wilma. Any adjustments made under the preceding sentence shall ensure that an individual is not taken into account by more than one taxpayer with respect to the same tax benefit. ‘‘SEC. 1400T. SPECIAL RULES FOR MORTGAGE REVENUE BONDS.

‘‘(a) IN GENERAL.—In the case of financing provided with respect to owner-occupied residences in the GO Zone, the Rita GO Zone, or the Wilma GO Zone, section 143 shall be applied— ‘‘(1) by treating any such residence in the Rita GO Zone or the Wilma GO Zone as a targeted area residence, ‘‘(2) by applying subsection (f)(3) thereof without regard to subparagraph (A) thereof, and ‘‘(3) by substituting ‘$150,000’ for ‘$15,000’ in subsection (k)(4) thereof. ‘‘(b) APPLICATION.—Subsection (a) shall not apply to financing provided after December 31, 2010.’’. (b) CONFORMING AMENDMENTS.— (1) Subsection (b) of section 38, as amended by this Act, is amended by striking ‘‘and’’ at the end of paragraph (26), by striking the period at the end of paragraph (27) and inserting a comma, and by adding at the end the following new paragraphs: ‘‘(28) the Hurricane Katrina employee retention credit determined under section 1400R(a), ‘‘(29) the Hurricane Rita employee retention credit determined under section 1400R(b), and ‘‘(30) the Hurricane Wilma employee retention credit determined under section 1400R(c).’’. (2) Section 280C(a), as amended by this Act, is amended by striking ‘‘and 1400P(b)’’ and inserting ‘‘1400P(b), and 1400R’’. (3) The table of sections for part II of subchapter Y of chapter 1 is amended by adding at the end the following new items:

Applicability.

26 USC 38.

‘‘Sec. 1400Q. Special rules for use of retirement funds. ‘‘Sec. 1400R. Employment relief. ‘‘Sec. 1400S. Additional tax relief provisions.’’.

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