Public Law 107-145 107th Congress An Act To designate the facility of the United States Postal Service located at 39 Tremont Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. HORATIO KING POST OFFICE BUILDING. (a) DESIGNATION.-The facility of the United States Postal Service located at 39 Tremont Street, Paris Hill, Maine, shall be known as the "Horatio King Post Office Building". (b) REFERENCES. Any reference in a law, map, regulation, document, paper, or other record of the United States to the facility referred to in subsection (a) shall be deemed to be a reference to the Horatio King Post Office Building. Approved February 14, 2002. Feb. 14, 2002 [S. 970] LEGISLATIVE HISTORY-S. 970: Vol. 147 (2001): Aug. 3, considered and passed Senate. Feb. 14, 2002 [S. 1026] Public Law 107-146 107th Congress An Act To designate the United States Post Office located at 60 Third Avenue in Long Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. DESIGNATION OF PAT KING POST OFFICE BUILDING. The United States Post Office located at 60 Third Avenue in Long Branch, New Jersey, shall be known and designated as the "Pat King Post Office Building". SEC. 2. REFERENCES. Any reference in a law, map, regulation, document, paper, or other record of the United States to the United States Post Office referred to in section 1 shall be deemed to be a reference to the Pat King Post Office Building. Approved February 14, 2002. LEGISLATIVE HISTORY-S. 1026: Vol. 147 (2001): Aug. 3, considered and passed Senate. Public Law 107-147 107th Congress An Act To provide tax incentives for economic recovery. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; ETC. (a) SHORT TITLE.-This Act may be cited as the "Job Creation and Worker Assistance Act of 2002". (b) REFERENCES TO INTERNAL REVENUE CODE OF 1986.-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. Sec. 1. Short title; etc. TITLE I-BUSINESS PROVISIONS Sec. 101. Special depreciation allowance for certain property acquired after Sec. 102. Carryback of certain net operating losses allowed for 5 years; temporary TITLE II-UNEMPLOYMENT ASSISTANCE Sec. 201. Short title. Sec. 202. Federal-State agreements. Sec. 203. Temporary extended unemployment compensation account. Sec. 204. Payments to States having agreements for the payment of temporary extended unemployment compensation. Sec. 205. Financing provisions. Sec. 206. Fraud and overpayments. Sec. 207. Definitions. Sec. 208. Applicability. Sec. 209. Special Reed Act transfer in fiscal year 2002. TITLE III-TAX INCENTIVES FOR NEW YORK CITY AND DISTRESSED AREAS TITLE IV-MISCELLANEOUS AND TECHNICAL PROVISIONS Subtitle A-General Miscellaneous Provisions Sec. 401. Allowance of electronic 1099's. Sec. 402. Excluded cancellation of indebtedness income of S corporation not to Sec. 403. Limitation on use of nonaccrual experience method of accounting. Sec. 405. Interest rate range for additional funding requirements. Sec. 406. Adjusted gross income determined by taking into account certain expenses of elementary and secondary school teachers. Mar. 9, 2002 [H.R. 3090] Job Creation and 26 USC 1 note. 26 USC 168. Subtitle B-Technical Corrections Sec. 411. Amendments related to Economic Growth and Tax Relief Reconciliation Sec. 412. Amendments related to Community Renewal Tax Relief Act of 2000. Sec. 414. Amendments related to the Taxpayer Relief Act of 1997. Sec. 415. Amendment related to the Balanced Budget Act of 1997. Sec. 416. Other technical corrections. Sec. 417. Clerical amendments. Sec. 418. Additional corrections. TITLE V-SOCIAL SECURITY HELD HARMLESS; BUDGETARY TREATMENT Sec. 501. No impact on social security trust funds. Sec. 502. Emergency designation. TITLE VI-EXTENSIONS OF CERTAIN EXPIRING PROVISIONS Sec. 601. Allowance of nonrefundable personal credits against regular and minimum tax liability. Sec. 602. Credit for qualified electric vehicles. Sec. 603. Credit for electricity produced from certain renewable resources. Sec. 605. Welfare-to-work credit. Sec. 606. Deduction for clean-fuel vehicles and certain refueling property. Sec. 607. Taxable income limit on percentage depletion for oil and natural gas produced from marginal properties. Sec. 608. Qualified zone academy bonds. Sec. 609. Cover over of tax on distilled spirits. Sec. 610. Parity in the application of certain limits to mental health benefits. Sec. 611. Temporary special rules for taxation of life insurance companies. Sec. 612. Availability of medical savings accounts. Sec. 613. Incentives for Indian employment and property on Indian reservations. Sec. 614. Subpart F exemption for active financing. Sec. 615. Repeal of requirement for approved diesel or kerosene terminals. Sec. 616. Reauthorization of TANF supplemental grants for population increases for fiscal year 2002. Sec. 617. 1-year extension of contingency fund under the TANF program. TITLE I-BUSINESS PROVISIONS SEC. 101. SPECIAL DEPRECIATION ALLOWANCE FOR CERTAIN PROP- (a) IN GENERAL.-Section 168 (relating to accelerated cost recovery system) is amended by adding at the end the following new subsection: "(k) SPECIAL ALLOWANCE FOR CERTAIN PROPERTY ACQUIRED AFTER SEPTEMBER 10, 2001, AND BEFORE SEPTEMBER 11, 2004. "(1) ADDITIONAL ALLOWANCE.-In the case of any qualified property "(A) the depreciation deduction provided by section 167(a) for the taxable year in which such property is placed in service shall include an allowance equal to 30 percent of the adjusted basis of the qualified property, and "(B) the adjusted basis of the qualified property shall be reduced by the amount of such deduction before computing the amount otherwise allowable as a depreciation deduction under this chapter for such taxable year and any subsequent taxable year. "(2) QUALIFIED PROPERTY.-For subsection purposes of this "(A) IN GENERAL.-The term 'qualified property' means property “(i)(I) to which this section applies which has a recovery period of 20 years or less, "(II) which is computer software (as defined in section 167(f)(1)(B)) for which a deduction is allowable under section 167(a) without regard to this subsection, "(III) which is water utility property, or "(IV) which is qualified leasehold improvement property, "(ii) the original use of which commences with the taxpayer after September 10, 2001, "(iii) which is— "(I) acquired by the taxpayer after September 10, 2001, and before September 11, 2004, but only if no written binding contract for the acquisition was in effect before September 11, 2001, or "(II) acquired by the taxpayer pursuant to a written binding contract which was entered into after September 10, 2001, and before September 11, 2004, and "(iv) which is placed in service by the taxpayer before January 1, 2005, or, in the case of property described in subparagraph (B), before January 1, 2006. "(B) CERTAIN PROPERTY HAVING LONGER PRODUCTION PERIODS TREATED AS QUALIFIED PROPERTY.— "(i) IN GENERAL.-The term 'qualified property' includes property "(I) which meets the requirements of clauses (i), (ii), and (iii) of subparagraph (A), "(II) which has a recovery period of at least 10 years or is transportation property, and "(III) which is subject to section 263A by rea son of clause (ii) or (iii) of subsection (f)(1)(B) thereof. "(ii) ONLY PRE-SEPTEMBER 11, 2004, BASIS ELIGIBLE Applicability. FOR ADDITIONAL ALLOWANCE. In the case of property which is qualified property solely by reason of clause (i), paragraph (1) shall apply only to the extent of the adjusted basis thereof attributable to manufacture, construction, or production before September 11, 2004. "(iii) TRANSPORTATION PROPERTY.-For purposes of this subparagraph, the term 'transportation property' means tangible personal property used in the trade or business of transporting persons or property. "(C) EXCEPTIONS. "(i) ALTERNATIVE DEPRECIATION PROPERTY.-The term 'qualified property' shall not include any property to which the alternative depreciation system under subsection (g) applies, determined— "(I) without regard to paragraph (7) of subsection (g) (relating to election to have system apply), and "(II) after application of section 280F(b) (relating to listed property with limited business use). "(ii) QUALIFIED NEW YORK LIBERTY ZONE LEASEHOLD IMPROVEMENT PROPERTY.-The term 'qualified property' shall not include any qualified New York |