123STA T . 33 6PUBLIC LA W 111 –5—FE B.1 7, 2 0 0 9(F) ( i ii) ,exc e pt t ha ti n app ly in gsu ch su b pa r agraph, secti o n 4 4 8 (c) shall be applie d by substituting ‘$15 , 0 00,000 ’f or ‘$5,000,000’ each place it appears . ’’. (b) CONF O RMI N GA M E N D MEN T . —S ection 1 72 isa m ended by stri k ing subsection (k) and by redesignating subsection (l) as sub - section (k). (c) ANTI-A BUS E R U L ES.— T he Secretary of Treasury or the Sec- retary’s designee shall prescribe such rules as are necessary to pre v ent the abuse of the purposes of the amendments made by this section, including anti-stuffing rules, anti-churning rules (including rules relating to sale-leasebacks), and rules similar to the rules under section 10 9 1 of the I nternal Revenue Code of 198 6 relating to losses from w ash sales. (d) E FFE C TI V E DA TE.— (1) IN GENERAL.—Except as otherwise provided in this sub- section, the amendments made by this section shall apply to net operating losses arising in taxable years ending after December 3 1, 2007. (2) TRANSITIONAL RULE.—In the case of a net operating loss for a taxable year ending before the date of the enactment of this Act— (A) any election made under section 172(b)(3) of the Internal Revenue Code of 1986 with respect to such loss may (notwithstanding such section) be revoked before the applicable date, ( B ) any election made under section 172(b)(1)( H )of such Code with respect to such loss shall (notwithstanding such section) be treated as timely made if made before the applicable date, and (C) any application under section 6411(a) of such Code with respect to such loss shall be treated as timely filed if filed before the applicable date. For purposes of this paragraph, the term ‘‘applicable date’’ means the date which is 60 days after the date of the enactment of this Act. SEC.12 12. D EC R E A SED RE QUI RED ES T I M ATED TA XP A Y ME N TSIN2 0 0 9FO R CERTAIN SMA L L B USINESSES. P aragraph (1) of section 6654(d) is amended by adding at the end the following new subparagraph
‘‘(D) S P ECIAL RULE FOR 20 0 9 .— ‘‘(i) IN GENERAL.— N otwithstanding subparagraph (C), in the case of any taxable year beginning in 2009, clause (ii) of subparagraph (B) shall be applied to any q ualified individual by substituting ‘90 percent’ for ‘100 percent’. ‘‘(ii) Q UALIFIED INDIVIDUAL.—For purposes of this subparagraph, the term ‘qualified individual’ means any individual if— ‘‘(I) the ad j usted gross income shown on the return of such individual for the preceding taxable year is less than $500,000, and ‘‘(II) such individual certifies that more than 50 percent of the gross income shown on the return of such individual for the preceding taxable year was income from a small business. Certif i ca ti on.Ap p l ica b ilit y . D efinition. Applicability. 26US C 17 2 note. 26 USC 172 note. 26 USC 172.
