House passed Senate version of fiscal cliff bill!

On the evening of January 1 2013, the House passed the Senate's version of the fiscal cliff bill.  Now it goes to President Obama.  Text is at http://1.usa.gov/UkNnw7  and runs 154 pages, covering many areas.  I suspect that individual tax rates will be getting most of the attention in the press, but there are many other items (e.g., business incentives being extended that had expired; international tax issues, etc.) that are very important.

Stay tuned for more!

• TITLE I—GENERAL EXTENSIONS
• Sec. 101. Permanent extension and modification of 2001 tax relief.
• Sec. 102. Permanent extension and modification of 2003 tax relief.
• Sec. 103. Extension of 2009 tax relief.
• Sec. 104. Permanent alternative minimum tax relief.
• TITLE II—INDIVIDUAL TAX EXTENDERS
• Sec. 201. Extension of deduction for certain expenses of elementary and secondary school teachers.
• Sec. 202. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness.
• Sec. 203. Extension of parity for exclusion from income for employer-provided mass transit and parking benefits.
• Sec. 204. Extension of mortgage insurance premiums treated as qualified residence interest.
• Sec. 205. Extension of deduction of State and local general sales taxes.
• Sec. 206. Extension of special rule for contributions of capital gain real property made for conservation purposes.
• Sec. 207. Extension of above-the-line deduction for qualified tuition and related expenses.
• Sec. 208. Extension of tax-free distributions from individual retirement plans for charitable purposes.
• Sec. 209. Improve and make permanent the provision authorizing the Internal Revenue Service to disclose certain return and return information to certain prison officials.
• TITLE III—BUSINESS TAX EXTENDERS
• Sec. 301. Extension and modification of research credit.
• Sec. 302. Extension of temporary minimum low-income tax credit rate for nonfederally subsidized new buildings.
• Sec. 303. Extension of housing allowance exclusion for determining area median gross income for qualified residential rental project exempt facility bonds.
• Sec. 304. Extension of Indian employment tax credit.
• Sec. 305. Extension of new markets tax credit.
• Sec. 306. Extension of railroad track maintenance credit.
• Sec. 307. Extension of mine rescue team training credit.
• Sec. 308. Extension of employer wage credit for employees who are active duty members of the uniformed services.
• Sec. 309. Extension of work opportunity tax credit.
• Sec. 310. Extension of qualified zone academy bonds.
• Sec. 311. Extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.
• Sec. 312. Extension of 7-year recovery period for motorsports entertainment complexes.
• Sec. 313. Extension of accelerated depreciation for business property on an Indian reservation.
• Sec. 314. Extension of enhanced charitable deduction for contributions of food  inventory.
• Sec. 315. Extension of increased expensing limitations and treatment of certain real property as section 179 property.
• Sec. 316. Extension of election to expense mine safety equipment.
• Sec. 317. Extension of special expensing rules for certain film and television productions.
• Sec. 318. Extension of deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
• Sec. 319. Extension of modification of tax treatment of certain payments to controlling exempt organizations.
• Sec. 320. Extension of treatment of certain dividends of regulated investment companies.
• Sec. 321. Extension of RIC qualified investment entity treatment under FIRPTA.
• Sec. 322. Extension of subpart F exception for active financing income.
• Sec. 323. Extension of look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules.
• Sec. 324. Extension of temporary exclusion of 100 percent of gain on certain small business stock.
• Sec. 325. Extension of basis adjustment to stock of S corporations making charitable contributions of property.
• Sec. 326. Extension of reduction in S-corporation recognition period for built-in gains tax.
• Sec. 327. Extension of empowerment zone tax incentives.
• Sec. 328. Extension of tax-exempt financing for New York Liberty Zone.
• Sec. 329. Extension of temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
• Sec. 330. Modification and extension of American Samoa economic development credit.
• Sec. 331. Extension and modification of bonus depreciation.
• TITLE IV—ENERGY TAX EXTENDERS
• Sec. 401. Extension of credit for energy-efficient existing homes.
• Sec. 402. Extension of credit for alternative fuel vehicle refueling property.
• Sec. 403. Extension of credit for 2- or 3-wheeled plug-in electric vehicles.
• Sec. 404. Extension and modification of cellulosic biofuel producer credit.
• Sec. 405. Extension of incentives for biodiesel and renewable diesel.
• Sec. 406. Extension of production credit for Indian coal facilities placed in service before 2009.
• Sec. 407. Extension and modification of credits with respect to facilities producing energy from certain renewable resources.
• Sec. 408. Extension of credit for energy-efficient new homes.
• Sec. 409. Extension of credit for energy-efficient appliances.
• Sec. 410. Extension and modification of special allowance for cellulosic biofuel plant property.
• Sec. 411. Extension of special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities.
• Sec. 412. Extension of alternative fuels excise tax credits.
• TITLE V—UNEMPLOYMENT
• Sec. 501. Extension of emergency unemployment compensation program.
• Sec. 502. Temporary extension of extended benefit provisions.
• Sec. 503. Extension of funding for reemployment services and reemployment and eligibility assessment activities.
• Sec. 504. Additional extended unemployment benefits under the Railroad  Unemployment Insurance Act.
• TITLE VI—MEDICARE AND OTHER HEALTH EXTENSIONS
• Subtitle A—Medicare Extensions
• Sec. 601. Medicare physician payment update.
• Sec. 602. Work geographic adjustment.
• Sec. 603. Payment for outpatient therapy services.
• Sec. 604. Ambulance add-on payments.
• Sec. 605. Extension of Medicare inpatient hospital payment adjustment for lowvolume hospitals.
• Sec. 606. Extension of the Medicare-dependent hospital (MDH) program.
• Sec. 607. Extension for specialized Medicare Advantage plans for special needs individuals.
• Sec. 608. Extension of Medicare reasonable cost contracts.
• Sec. 609. Performance improvement.
• Sec. 610. Extension of funding outreach and assistance for low-income programs.
• Subtitle B—Other Health Extensions
• Sec. 621. Extension of the qualifying individual (QI) program.
• Sec. 622. Extension of Transitional Medical Assistance (TMA).
• Sec. 623. Extension of Medicaid and CHIP Express Lane option.
• Sec. 624. Extension of family-to-family health information centers.
• Sec. 625. Extension of Special Diabetes Program for Type I diabetes and for Indians.
• Subtitle C—Other Health Provisions
• Sec. 631. IPPS documentation and coding adjustment for implementation of MSDRGs.
• Sec. 632. Revisions to the Medicare ESRD bundled payment system to reflect findings in the GAO report.
• Sec. 633. Treatment of multiple service payment policies for therapy services.
• Sec. 634. Payment for certain radiology services furnished under the Medicare hospital outpatient department prospective payment system.
• Sec. 635. Adjustment of equipment utilization rate for advanced imaging services.
• Sec. 636. Medicare payment of competitive prices for diabetic supplies and elimination of overpayment for diabetic supplies.
• Sec. 637. Medicare payment adjustment for non-emergency ambulance transports for ESRD beneficiaries.
• Sec. 638. Removing obstacles to collection of overpayments.
• Sec. 639. Medicare advantage coding intensity adjustment.
• Sec. 640. Elimination of all funding for the Medicare Improvement Fund.
• Sec. 641. Rebasing of State DSH allotments.
• Sec. 642. Repeal of CLASS program.
• Sec. 643. Commission on Long-Term Care.
• Sec. 644. Consumer Operated and Oriented Plan program contingency fund.
• TITLE VII—EXTENSION OF AGRICULTURAL PROGRAMS
• Sec. 701. 1-year extension of agricultural programs.
• Sec. 702. Supplemental agricultural disaster assistance.
• TITLE VIII—MISCELLANEOUS PROVISIONS
• Sec. 801. Strategic delivery systems.
• Sec. 802. No cost of living adjustment in pay of members of congress.
• TITLE IX—BUDGET PROVISIONS
• Subtitle A—Modifications of Sequestration
• Sec. 901. Treatment of sequester.
• Sec. 902. Amounts in applicable retirement plans may be transferred to designated Roth accounts without distribution.
• Subtitle B—Budgetary Effects
• Sec. 911. Budgetary effects.