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[JOINT COMMITTEE PRINT]
DESCRIPTION AND ANALYSIS OF CERTAIN TAX PROVISIONS EXPIRING IN 1994 AND 1995
SCHEDULED FOR HEARINGS
SUBCOMMITTEE ON OVERSIGHT
HOUSE COMMITTEE ON WAYS AND MEANS
ON MAY 9 AND 10, 1995
PREPARED BY THE STAFF
JOINT COMMITTEE ON TAXATION
MAY 8, 1995
U.S. GOVERNMENT PRINTING OFFICE
For sale by the U.S. Government Printing Office
ERRATA FOR JCS-8-95
On page 19, in the sixth line, the two references to "1996" should be
In the Tax Reform Act of 1969 ("1969 Act"), Congress adopted
This pamphlet,1 prepared by the staff of the Joint Committee on Taxation, provides a description and analysis of certain tax provisions that expired in 1994 and of certain tax provisions scheduled to expire in 1995. The Subcommittee on Oversight of the House Committee on Ways and Means has scheduled public hearings on certain expiring tax provisions on May 9-10, 1995.
Part I of the pamphlet is a summary listing of the tax provisions for the May 9-10 Subcommittee on Oversight hearings. Part II is a description and analysis of the tax provisions for the Subcommittee hearings. The May 9 Subcommittee hearing will focus on seven expired and expiring tax provisions: (1) targeted jobs tax (sec. 51); (2) exclusion for employer-provided educational assistance (sec. 127); (3) orphan drug tax credit (sec. 28); (4) contributions of publicly-traded stock to private foundation (sec. 170(e)(5)); (5) FUTA exemption for temporary alien agricultural workers (sec. 3306(c)(1)); (6) nonconventional fuels tax credit (sec. 29); and (7) transportation fuels tax exemption for commercial aviation (sec. 4092(b)(2)). The May 10 Subcommittee hearing will focus on: (1) tax credit for research and experimental expenses (sec. 41); and (2) allocation and apportionment of research expenses to U.S. and foreign income (sec. 864(f)).
1 This pamphlet may be cited as follows: Joint Committee on Taxation, Description and Analysis of Certain Tax Provisions Expiring in 1994 and 1995 (JCS-8-95), May 8, 1995.