Page:United States Statutes at Large Volume 121.djvu/213

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[121 STAT. 192]
[121 STAT. 192]
PUBLIC LAW 110-000—MMMM. DD, 2007

121 STAT. 192

26 USC 51 note.

PUBLIC LAW 110–28—MAY 25, 2007

(A) IN GENERAL.—Subparagraph (A) of section 51(d)(3) (relating to qualified veteran) is amended by striking ‘‘agency as being a member of a family’’ and all that follows and inserting ‘‘agency as— ‘‘(i) being a member of a family receiving assistance under a food stamp program under the Food Stamp Act of 1977 for at least a 3-month period ending during the 12-month period ending on the hiring date, or ‘‘(ii) entitled to compensation for a service-connected disability, and— ‘‘(I) having a hiring date which is not more that 1 year after having been discharged or released from active duty in the Armed Forces of the United States, or ‘‘(II) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 6 months.’’. (B) DEFINITIONS.—Paragraph (3) of section 51(d) is amended by adding at the end the following new subparagraph: ‘‘(C) OTHER DEFINITIONS.—For purposes of subparagraph (A), the terms ‘compensation’ and ‘service-connected’ have the meanings given such terms under section 101 of title 38, United States Code.’’. (2) INCREASE IN AMOUNT OF WAGES TAKEN INTO ACCOUNT FOR DISABLED VETERANS.—Paragraph (3) of section 51(b) is amended— (A) by inserting ‘‘($12,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii))’’ before the period at the end, and (B) by striking ‘‘ONLY FIRST $6,000 OF’’ in the heading and inserting ‘‘LIMITATION ON’’. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to individuals who begin work for the employer after the date of the enactment of this Act. SEC. 8212. EXTENSION AND INCREASE OF EXPENSING FOR SMALL BUSINESS.

dkrause on GSDDPC44 with PUBLAW

26 USC 179.

VerDate Aug 31 2005

13:52 Jan 23, 2009

(a) EXTENSION.—Subsections (b)(1), (b)(2), (b)(5), (c)(2), and (d)(1)(A)(ii) of section 179 (relating to election to expense certain depreciable business assets) are each amended by striking ‘‘2010’’ and inserting ‘‘2011’’. (b) INCREASE IN LIMITATIONS.—Subsection (b) of section 179 is amended— (1) by striking ‘‘$100,000 in the case of taxable years beginning after 2002’’ in paragraph (1) and inserting ‘‘$125,000 in the case of taxable years beginning after 2006’’, and (2) by striking ‘‘$400,000 in the case of taxable years beginning after 2002’’ in paragraph (2) and inserting ‘‘$500,000 in the case of taxable years beginning after 2006’’. (c) INFLATION ADJUSTMENT.—Subparagraph (A) of section 179(b)(5) is amended— (1) by striking ‘‘2003’’ and inserting ‘‘2007’’, (2) by striking ‘‘$100,000 and $400,000’’ and inserting ‘‘$125,000 and $500,000’’, and (3) by striking ‘‘2002’’ in clause (ii) and inserting ‘‘2006’’.

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