Page:United States Statutes at Large Volume 124.djvu/2585

124 STAT. 2559 PUBLIC LAW 111–240—SEPT. 27, 2010 (c) EFFECTIVE DATE.—The amendments made by this section shall apply to property placed in service after December 31, 2009, in taxable years ending after such date. SEC. 2023. SPECIAL RULE FOR LONG -TERM CONTRACT ACCOUNTING. (a) IN GENERAL.—Section 460(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new para- graph: ‘‘(6) SPECIAL RULE FOR ALLOCATION OF BONUS DEPRECIATION WITH RESPECT TO CERTAIN PROPERTY.— ‘‘(A) IN GENERAL.—Solely for purposes of determining the percentage of completion under subsection (b)(1)(A), the cost of qualified property shall be taken into account as a cost allocated to the contract as if subsection (k) of section 168 had not been enacted. ‘‘(B) QUALIFIED PROPERTY.—For purposes of this para- graph, the term ‘qualified property’ means property described in section 168(k)(2) which— ‘‘(i) has a recovery period of 7 years or less, and ‘‘(ii) is placed in service after December 31, 2009, and before January 1, 2011 (January 1, 2012, in the case of property described in section 168(k)(2)(B)).’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to property placed in service after December 31, 2009. PART III—PROMOTING ENTREPRENEURSHIP SEC. 2031. INCREASE IN AMOUNT ALLOWED AS DEDUCTION FOR START-UP EXPENDITURES IN 2010. (a) START-UP EXPENDITURES.—Subsection (b) of section 195 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ‘‘(3) SPECIAL RULE FOR TAXABLE YEARS BEGINNING IN 2010.— In the case of a taxable year beginning in 2010, paragraph (1)(A)(ii) shall be applied— ‘‘(A) by substituting ‘$10,000’ for ‘$5,000’, and ‘‘(B) by substituting ‘$60,000’ for ‘$50,000’.’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2009. SEC. 2032. AUTHORIZATION OF APPROPRIATIONS FOR THE UNITED STATES TRADE REPRESENTATIVE TO DEVELOP MARKET ACCESS OPPORTUNITIES FOR UNITED STATES SMALL- AND MEDIUM-SIZED BUSINESSES AND TO ENFORCE TRADE AGREEMENTS. (a) IN GENERAL.—There are authorized to be appropriated to the Office of the United States Trade Representative $5,230,000, to remain available until expended, for— (1) analyzing and developing opportunities for businesses in the United States to access the markets of foreign countries; and (2) enforcing trade agreements to which the United States is a party. (b) REQUIREMENTS.—In obligating and expending the funds authorized to be appropriated under subsection (a), the United States Trade Representative shall— 26 USC 195 note. Applicability. 26 USC 195. 26 USC 460 note. Definition. 26 USC 460. 26 USC 168 note.