(a) In general.—Part III of subchapter B of chapter 1, as amended by the preceding provisions of this Act, is amended by inserting after section 139K the following new section: “SEC. 139L. Interest on loans secured by rural or agricultural real property. “(a) In general.—Gross income shall not
(a) Election to treat costs as expenses.—Section 181(a)(1) is amended by striking “qualified film or television production, and any qualified live theatrical production,” and inserting “qualified film or television production, any qualified live theatrical production, and any qualified sound recording production”. (b) Dollar limitation.—Section 181(a)
(a) In general.—Section 6041(a) is amended by striking “$600” and inserting “$2,000”. (b) Inflation adjustment.—Section 6041 is amended by adding at the end the following new subsection: “(h) Inflation adjustment.—In the case of any calendar year after 2026, the dollar amount in subsection (a) shall
(a) Reinstatement of exception for de minimis payments as in effect prior to enactment of American Rescue Plan Act of 2021.— (1) IN GENERAL.—Section 6050W(e) is amended to read as follows: “(e) Exception for de minimis payments by third party settlement organizations.—A third party settlement organization shall
(a) Phased increase in exclusion for gain from qualified small business stock.— (1) IN GENERAL.—Section 1202(a)(1) is amended to read as follows: “(1) IN GENERAL.— In the case of a taxpayer other than a corporation, gross income shall not include— “(A) except as provided in paragraphs (3)
SEC. 70421. Permanent renewal and enhancement of opportunity zones. (a) Decennial designations.— (1) DETERMINATION PERIOD.—Section 1400Z-1(c)(2)(B) is amended by striking “beginning on the date of the enactment of the Tax Cuts and Jobs Act” and inserting “beginning on the decennial determination date”. (2) DECENNIAL DETERMINATION
(a) In general.—Section 460(e) is amended— (1) in paragraph (1)— (A) by striking “home construction contract” both places it appears and inserting “residential construction contract”, and (B) by inserting “(determined by substituting ‘3-year’ for ‘2-year’ in subparagraph (B)(i) for any residential construction contract which is
(a) In general.—Section 170(n)(1) of the Internal Revenue Code of 1986 is amended by striking “$10,000” and inserting “$50,000”. (b) Effective date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025. Published with DiscussionBridge from the Repeal OBBBA
(a) In general.—For purposes of subchapter F of chapter 1 of the Internal Revenue Code of 1986, any activity substantially related to participation or investment in fisheries in the Bering Sea and Aleutian Islands statistical and reporting areas (as described in Figure 1 of section 679 of title 50,
(a) In general.—Paragraph (1) of section 7652(f) is amended to read as follows: “(1) $13.25, or”. (b) Effective date.—The amendment made by this section shall apply to distilled spirits brought into the United States after December 31, 2025. Published with DiscussionBridge from the Repeal OBBBA Forum
(a) In general.—Section 170(b)(2)(A) is amended to read as follows: “(A) IN GENERAL.—Any charitable contribution otherwise allowable (without regard to this subparagraph) as a deduction under this section for any taxable year, other than any contribution to which subparagraph (B) or (C) applies, shall be
(a) In general.— (1) IN GENERAL.—Paragraph (1) of section 170(b) is amended by adding at the end the following new subparagraph: “(I) 0.5-PERCENT FLOOR.—Any charitable contribution otherwise allowable (without regard to this subparagraph) as a deduction under this section shall be allowed only to the