Page:United States Statutes at Large Volume 123.djvu/337

 123STA T . 31 7PUBLIC LA W 111 –5—FE B. 17 , 2 0 0 9unders e ctio n 36 is al lo w a b le to suc h ta xp a y er ( or the taxpayer ’ s spouse ) with respect to such purchase . ’’. ( 2 ) CONF O RMI N GA M E N D MEN T . —S ection 36(d) is a m ended by stri k in g paragraph ( 1 ). (e) R EMO V A L OF P RO H I B ITION ON F INAN C ING B YM ORTGAGE REV - EN U E B OND S .—Section 36(d) , as amended by subsection (c)(2), is amended by striking paragraph (2) and by redesignating paragraphs (3) and ( 4 ) as paragraphs (1) and (2), respecti v ely. ( f ) E FFECTIVE D ATE.— T he amendments made by this section shall apply to residences purchased after December 31, 2 0 0 8 . SEC.10 0 7 .S U S P E N S IO NO FTAX ON PO R TION OF UNE M P L O Y MENT COM - PENSATION. (a) I N G ENERAL.—Section 8 5 of the Internal Revenue Code of1 9 86 (relating to unemployment compensation) is amended by adding at the end the following new subsection

‘(c) S P ECIAL RULE FOR 2009.—In the case of any taxable year beginning in 2009, gross income shall not include so much of the unemployment compensation received by an individual as does not exceed $ 2,400.’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to taxable years beginning after December 31, 2008. SEC. 100 8 . A D DITIONAL DEDUCTION FOR STATE SALES TAX AND EXCISE TAX ON T H E PURCHASE OF CERTAIN MOTOR V EHICLES. (a) IN GENERAL.—Subsection (a) of section 164 is amended by inserting after paragraph (5) the following new paragraph: ‘‘(6) Q ualified motor vehicle taxes.’’. (b) QUALIFIED MOTOR V EHICLE TA X ES.—Subsection (b) of sec- tion 164 is amended by adding at the end the following new para- graph: ‘‘(6) QUALIFIED MOTOR VEHICLE TAXES.— ‘‘( A ) IN GENERAL.—For purposes of this section, the term ‘ q ualified motor vehicle taxes’ means any State or local sales or excise tax imposed on the purchase of a qualified motor vehicle. ‘‘(B) L IMITATION BASED ON VEHICLE PRICE.—The amount of any State or local sales or excise tax imposed on the purchase of a qualified motor vehicle taken into account under subparagraph (A) shall not exceed the por- tion of such tax attributable to so much of the purchase price as does not exceed $49,500. ‘‘(C) INCOME LIMITATION.—The amount otherwise taken into account under subparagraph (A) (after the application of subparagraph (B)) for any taxable year shall be reduced (but not below z ero) by the amount which bears the same ratio to the amount which is so treated as— ‘‘(i) the excess (if any) of— ‘‘(I) the taxpayer’s modified ad j usted gross income for such taxable year, over ‘‘(II) $125,000 ($250,000 in the case of a joint return), bears to ‘‘(ii) $10,000. For purposes of the preceding sentence, the term ‘modified adjusted gross income’ means the adjusted gross income of the taxpayer for the taxable year (determined without regard to sections 911, 931, and 933). 26USC85note. 26 USC 3 6 note. 26 USC 36.