Hiring Incentives to Restore Employment Act
(Redirected from Public Law 111-147)
111TH UNITED STATES CONGRESS
Making appropriations for the Departments of Commerce and Justice, and Science, and Related Agencies for the fiscal year ending September 30, 2010, and for other purposes.
- Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short Title; Amendment of 1986 Code; Table of Contents.
- (a) Short Title.- This Act may be cited as the "Hiring Incentives to Restore Employment Act".
- (b) Amendment of 1986 Code.- Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.
- (c) Table of Contents.- The table of contents for this Act is as follows:
- 1 Section 1. Short Title; Amendment of 1986 Code; Table of Contents.
- 2 TITLE I—INCENTIVES FOR HIRING AND RETAINING UNEMPLOYED WORKERS
- 3 TITLE II—EXPENSING
- 4 TITLE III—QUALIFIED TAX CREDIT BONDS
- 5 TITLE IV—EXTENSION OF CURRENT SURFACE TRANSPORTATION PROGRAMS
- 6 TITLE V—OFFSET PROVISIONS
- 6.1 Subtitle A—Foreign Account Tax Compliance
- 6.1.1 PART I—INCREASED DISCLOSURE OF BENEFICIAL OWNERS
- 6.1.2 PART II—UNDER REPORTING WITH RESPECT TO FOREIGN ASSETS
- 6.1.3 PART III—OTHER DISCLOSURE PROVISIONS
- 6.1.4 PART IV—PROVISIONS RELATED TO FOREIGN TRUSTS
- 6.1.5 PART V—SUBSTITUTE DIVIDENDS AND DIVIDEND EQUIVALENT PAYMENTS RECEIVED BY FOREIGN PERSONS TREATED AS DIVIDENDS
- 6.2 Subtitle B—Delay in Application of Worldwide Allocation of Interest
- 6.3 Subtitle C—Budgetary Provisions
- 6.1 Subtitle A—Foreign Account Tax Compliance
- 7 Legislative History
- Sec. 1. Short title; amendment of 1986 Code; table of contents.
- Sec. 101. Payroll tax forgiveness for hiring unemployed workers.
- Sec. 102. Business credit for retention of certain newly hired individuals in 2010.
- Sec. 201. Increase in expensing of certain depreciable business assets.
- Sec. 301. Issuer allowed refundable credit for certain qualified tax credit bonds.
- Sec. 401. Short title.
- Sec. 411. In general.
- Sec. 412. Administrative expenses.
- Sec. 413. Rescission of unobligated balances.
- Sec. 414. Reconciliation of funds.
Subtitle B—National Highway Traffic Safety Administration, Federal Motor Carrier Safety Administration, and Additional Programs
- Sec. 421. Extension of National Highway Traffic Safety Administration Highway Safety Programs.
- Sec. 422. Extension of Federal Motor Carrier Safety Administration Programs.
- Sec. 423. Additional programs.
- Sec. 431. Allocation of funds for planning programs.
- Sec. 432. Special rule for urbanized area formula grants.
- Sec. 433. Allocating amounts for capital investment grants.
- Sec. 434. Apportionment of formula grants for other than urbanized areas.
- Sec. 435. Apportionment based on fixed guideway factors.
- Sec. 436. Authorizations for public transportation.
- Sec. 437. Amendments to SAFETEA-LU.
- Sec. 441. Repeal of provision prohibiting the crediting of interest to the Highway Trust Fund.
- Sec. 442. Restoration of certain foregone interest to Highway Trust Fund.
- Sec. 443. Treatment of certain amounts appropriated to Highway Trust Fund.
- Sec. 444. Termination of transfers from highway trust fund for certain repayments and credits.
- Sec. 445. Extension of authority for expenditures.
- Sec. 446. Level of obligation limitations.
- Sec. 451. Disadvantaged business enterprises.
- Sec. 501. Reporting on certain foreign accounts.
- Sec. 502. Repeal of certain foreign exceptions to registered bond requirements.
- Sec. 511. Disclosure of information with respect to foreign financial assets.
- Sec. 512. Penalties for underpayments attributable to undisclosed foreign financial assets.
- Sec. 513. Modification of statute of limitations for significant omission of income in connection with foreign assets.
- Sec. 521. Reporting of activities with respect to passive foreign investment companies.
- Sec. 522. Secretary permitted to require financial institutions to file certain returns related to withholding on foreign transfers electronically.
- Sec. 531. Clarifications with respect to foreign trusts which are treated as having a United States beneficiary.
- Sec. 532. Presumption that foreign trust has United States beneficiary.
- Sec. 533. Uncompensated use of trust property.
- Sec. 534. Reporting requirement of United States owners of foreign trusts.
- Sec. 535. Minimum penalty with respect to failure to report on certain foreign trusts.
PART V—SUBSTITUTE DIVIDENDS AND DIVIDEND EQUIVALENT PAYMENTS RECEIVED BY FOREIGN PERSONS TREATED AS DIVIDENDS
- Sec. 541. Substitute dividends and dividend equivalent payments received by foreign persons treated as dividends.
- Sec. 551. Delay in application of worldwide allocation of interest.
- Sec. 561. Time for payment of corporate estimated taxes.
- Sec. 562. PAYGO Compliance.
Approved March 18, 2010.
- CONGRESSIONAL RECORD, Vol. 156 (2010):