12 2 STA T .3874PUBLIC LA W 11 0– 343 —O CT. 3 , 2008 (1)INGE NE RAL.—Subsection (b) o f section 1 40 0 A is am en d edb y st r i k in g‘ ‘ 2 00 7’ ’ and inserting ‘‘200 9 ’’. (2) EF FE CTIV E D ATE.— Th e amendment made by this sub - section sha l la p ply to bonds issued after D ecember 3 1 , 2007. (c) Z ER OP ERCENT C A P ITAL G AIN SR ATE.— (1) IN GENERAL.—Subsection (b) of section 1400 B is amended by striking ‘‘200 8 ’’ each place it appears and inserting ‘‘2010’’. (2) CONFOR M ING AMENDMENTS.— (A) Section 1400B(e)(2) is amended— (i) by striking ‘‘2012’’ and inserting ‘‘2014’’, and (ii) by striking ‘‘ 201 2’’ in the heading thereof and inserting ‘‘201 4 ’’. (B) Section 1400B(g)(2) is amended by striking ‘‘2012’’ and inserting ‘‘2014’’. (C) Section 1400 F (d) is amended by striking ‘‘2012’’ and inserting ‘‘2014’’. (3) EFFECTIVE DATES.— (A) E X TENSION.—The amendments made by paragraph (1) shall apply to ac q uisitions after December 31, 2007. (B) CONFORMING AMENDMENTS.—The amendments made by paragraph (2) shall take effect on the date of the enactment of this Act. (d) FIRST-TIME H OME BUY ER CREDIT.— (1) IN GENERAL.—Subsection (i) of section 1400C is amended by striking ‘‘2008’’ and inserting ‘‘2010’’. (2) EFFECTIVE DATE.—The amendment made by this sub- section shall apply to property purchased after December 31, 2007. SEC.32 3.E NHA NCE D CHA RIT A BL E DED U CTI O NS F OR CONTRIBUTIONS OF FOOD IN V ENTOR Y . (a) INCREASED AMOUNT OF DEDUCTION.— (1) IN GENERAL.—Clause (i v ) of section 170(e)(3)(C) (relating to termination) is amended by striking ‘‘December 31, 2007’’ and inserting ‘‘December 31, 2009’’. (2) EFFECTIVE DATE.—The amendment made by this sub- section shall apply to contributions made after December 31, 2007. (b) TEMPORARY SUSPENSION OF L IMITATIONS ON C H ARITABLE CONTRIBUTIONS.— (1) IN GENERAL.—Section 170(b) is amended by adding at the end the follo w ing new paragraph
‘‘(3) TEMPORARY SUSPENSION OF LIMITATIONS ON CHARI- TABLE CONTRIBUTIONS.—In the case of a qualified farmer or rancher (as defined in paragraph (1)(E)(v)), any charitable con- tribution of food— ‘‘(A) to which subsection (e)(3)(C) applies (without regard to clause (ii) thereof), and ‘‘(B) which is made during the period beginning on the date of the enactment of this paragraph and before J anuary 1, 2009, shall be treated for purposes of paragraph (1)(E) or (2)(B), whichever is applicable, as if it were a qualified conservation contribution which is made by a qualified farmer or rancher and which otherwise meets the requirements of such para- graph.’’. 26USC170note. 26USC1 4 00C note. 26 USC 1400 B note. 26 USC 1400 A .
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