What the bill does
(Although this measure has not been amended since it was passed by the House, the text was changed by H. Con. Res. 124, which made enrollment corrections, and the summary has been modified as necessary.) Division A: Tax Increase Prevention Act of 2014 – Tax Increase Prevention Act of 2014 – Title I: Certain Expiring Provisions – Subtitle A: Individual Tax Extenders – (Sec. 101) Extends through 2014: the tax deduction of expenses of elementary and secondary school teachers; the tax exclusion of imputed income from the discharge of indebtedness for a principal residence; the equalization of the tax exclusion for employer-provided commuter transit and parking benefits; the tax deduction of mortgage insurance premiums; the tax deduction of state and local general sales taxes in lieu of state and local income taxes; the tax deduction of contributions of real property interests for conservation purposes; the tax deduction of qualified tuition and related expenses; and the tax exemption of distributions from individual retirement accounts for charitable purposes. Subtitle B: Business Tax Extenders – (Sec. 111) Extends through 2014: the tax credit for increasing research activities; the low-income housing tax credit for newly-constructed non-federally subsidized buildings; the Indian employment tax credit; the new markets tax credit; the tax credit for qualified railroad track maintenance expenditures; the tax credit for mine rescue team training expenses; the tax credit for differential wage payments to employees who are members of the Uniformed Services; the work opportunity tax…
Subjects: Alcoholic beverages, Alternative and renewable resources, American Samoa, Budget deficits and national debt, Budget process, Building construction, Business investment and capital, Capital gains tax, Caribbean area, Charitable contributions