Remember all of those special interest tax breaks in the 2008 TARP bill?
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)
Many of them are back. Although I'm not sure yet whether the "research credit" is for "wool research."
-Research credit.
-Indian employment tax credit.
-New markets tax credit.
-Railroad track maintenance credit.
-Mine rescue team training credit.
-7-year recovery period for motorsports entertainment complexes.
-Accelerated depreciation for business property on an Indian reservation.
-Election to expense mine safety equipment.
-Special expensing rules for certain film and television productions.
-Expensing of environmental remediation costs.
-Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
-Tax incentives for investment in the District of Columbia.
-Temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
-American Samoa economic development credit.
