A bill to extend until March 15, 1986, the application of certain tobacco excise taxes, trade adjustment assistance, certain medicare reimbursement provisions, and borrowing authority under the railroad unemployment insurance program, and to amend the Internal Revenue Code of 1954 to extend for a temporary period certain tax provisions of current law which would otherwise expire at the end of 1985.

Summary

Title I: Fifth Emergency Extension Act of 1985-86 - Extends until March 15, 1986: (1) the trade adjustment assistance program; (2) borrowing authority under the Railroad Unemployment Insurance Act; and (3) Medicare hospital and physician payment rate provisions. Title II: Miscellaneous Tax Provisions Extension Act of 1985 - Miscellaneous Tax Provisions Extension Act of 1985 - Amends the Internal Revenue Code to extend the income tax credit for increasing research activities from December 31, 1985, until March 15, 1986. Extends the targeted jobs income tax credit from December 31, 1985, until March 15, 1986. Extends the authorization of appropriations for administrative and publicity expenses through fiscal year 1986. Extends from December 31, 1985, until March 16, 1986, income tax exclusions for educational assistance programs and group legal plans. Extends from December 31, 1985, until March 15, 1986, provisions relating to the awarding of costs to a prevailing taxpayer in Federal tax cases. Extends the increase in the excise tax on cigarettes until March 16, 1986. Extends from December 31, 1985, until March 15, 1986, the moratorium on net operating loss carryover rules. Extends the special rules concerning the allocation of research and experimental expenditures until March 16, 1986. Extends until March 15, 1986, the special rules relating to the filing of tax returns and payment of taxes by spouses of individuals missing in action during the Vietnam conflict. Extends until March 16, 1986, the moratorium on the issuance of regulations relating to the tax treatment of faculty housing by an educational institution. Extends from December 31, 1985, until March 16, 1986, the income tax deduction for expenditures to remove architectural and transportation barriers to the handicapped and elderly. Extends until March 15, 1986, the residential energy tax credit for solar renewable energy source expenditures. Extends the energy investment tax credit for solar and geothermal property until March 15, 1986. Extends until March 15, 1986, the reduction in the excise tax for fuel used by taxicabs.

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4 official files

• Public Law (PDF)

  Public Law · EN · 24 December 1985

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• House agreed to Senate amendment with amendment

  summary · EN · 20 December 1985

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• Passed Senate amended

  summary · EN · 19 December 1985

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• Introduced in House

  summary · EN · 19 December 1985

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