State Of New York et al v. Mnuchin et al

Filing 47

DECLARATION of Owen T. Conroy in Support re: 44 CROSS MOTION for Summary Judgment .. Document filed by State Of Connecticut, State Of New York, State of Maryland, State of New Jersey. (Attachments: # 1 Exhibit 1, # 2 Exhibit 2, # 3 Exhibit 3, # 4 Exhibit 4, # 5 Exhibit 5, # 6 Exhibit 6, # 7 Exhibit 7, # 8 Exhibit 8, # 9 Exhibit 9, # 10 Exhibit 10, # 11 Exhibit 11, # 12 Exhibit 12, # 13 Exhibit 13, # 14 Exhibit 14, # 15 Exhibit 15, # 16 Exhibit 16, # 17 Exhibit 17, # 18 Exhibit 18, # 19 Exhibit 19, # 20 Exhibit 20, # 21 Exhibit 21, # 22 Exhibit 22, # 23 Exhibit 23, # 24 Exhibit 24, # 25 Exhibit 25, # 26 Exhibit 26, # 27 Exhibit 27, # 28 Exhibit 28, # 29 Exhibit 29, # 30 Exhibit 30, # 31 Exhibit 31, # 32 Exhibit 32, # 33 Exhibit 33, # 34 Exhibit 34, # 35 Exhibit 35, # 36 Exhibit 36, # 37 Exhibit 37, # 38 Exhibit 38, # 39 Exhibit 39, # 40 Exhibit 40, # 41 Exhibit 41, # 42 Exhibit 42, # 43 Exhibit 43, # 44 Exhibit 44, # 45 Exhibit 45, # 46 Exhibit 46, # 47 Exhibit 47, # 48 Exhibit 48, # 49 Exhibit 49, # 50 Exhibit 50, # 51 Exhibit 51, # 52 Exhibit 52, # 53 Exhibit 53, # 54 Exhibit 54, # 55 Exhibit 55, # 56 Exhibit 56, # 57 Exhibit 57, # 58 Exhibit 58, # 59 Exhibit 59, # 60 Exhibit 60, # 61 Exhibit 61, # 62 Exhibit 62, # 63 Exhibit 63, # 64 Exhibit 64, # 65 Exhibit 65, # 66 Exhibit 66, # 67 Exhibit 67, # 68 Exhibit 68, # 69 Exhibit 69, # 70 Exhibit 70, # 71 Exhibit 71, # 72 Exhibit 72, # 73 Exhibit 73, # 74 Exhibit 74, # 75 Exhibit 75, # 76 Exhibit 76, # 77 Exhibit 77, # 78 Exhibit 78, # 79 Exhibit 79, # 80 Exhibit 80, # 81 Exhibit 81, # 82 Exhibit 82, # 83 Exhibit 83, # 84 Exhibit 84, # 85 Exhibit 85, # 86 Exhibit 86, # 87 Exhibit 87, # 88 Exhibit 88, # 89 Exhibit 89, # 90 Exhibit 90, # 91 Exhibit 91, # 92 Exhibit 92, # 93 Exhibit 93, # 94 Exhibit 94, # 95 Exhibit 95, # 96 Exhibit 96, # 97 Exhibit 97, # 98 Exhibit 98, # 99 Exhibit 99, # 100 Exhibit 100, # 101 Exhibit 101, # 102 Exhibit 102, # 103 Exhibit 103, # 104 Exhibit 104, # 105 Exhibit 105, # 106 Exhibit 106)(Conroy, Owen)

Exhibit 76

120 STAT. 2934

PUBLIC LAW 109–432—DEC. 20, 2006

SEC. 102. EXTENSION AND MODIFICATION OF NEW MARKETS TAX
CREDIT.

(a) EXTENSION.—Section 45D(f)(1)(D) is amended by striking
‘‘and 2007’’ and inserting ‘‘, 2007, and 2008’’.
(b) REGULATIONS REGARDING NON-METROPOLITAN COUNTIES.—
Section 45D(i) is amended by striking ‘‘and’’ at the end of paragraph
(4), by striking the period at the end of paragraph (5) and inserting
‘‘, and’’, and by adding at the end the following new paragraph:
‘‘(6) which ensure that non-metropolitan counties receive
a proportional allocation of qualified equity investments.’’.
(c) EFFECTIVE DATE.—The amendments made by this section
shall take effect on the date of the enactment of this Act.

26 USC 45D.

26 USC 45D
note.

SEC. 103. ELECTION TO DEDUCT STATE AND LOCAL GENERAL SALES
TAXES.

26 USC 164 note.

(a) IN GENERAL.—Section 164(b)(5)(I) is amended by striking
‘‘2006’’ and inserting ‘‘2008’’.
(b) EFFECTIVE DATE.—The amendments made by this section
shall apply to taxable years beginning after December 31, 2005.
SEC. 104. EXTENSION AND MODIFICATION OF RESEARCH CREDIT.

26 USC 41 note.

26 USC 41 note.

26 USC 41 note.

VerDate 14-DEC-2004

10:22 Jan 29, 2007

(a) EXTENSION.—
(1) IN GENERAL.—Section 41(h)(1)(B) is amended by striking
‘‘2005’’ and inserting ‘‘2007’’.
(2) CONFORMING AMENDMENT.—Section 45C(b)(1)(D) is
amended by striking ‘‘2005’’ and inserting ‘‘2007’’.
(3) EFFECTIVE DATE.—The amendments made by this subsection shall apply to amounts paid or incurred after December
31, 2005.
(b) INCREASE IN RATES OF ALTERNATIVE INCREMENTAL
CREDIT.—
(1) IN GENERAL.—Subparagraph (A) of section 41(c)(4)
(relating to election of alternative incremental credit) is
amended—
(A) by striking ‘‘2.65 percent’’ and inserting ‘‘3 percent’’,
(B) by striking ‘‘3.2 percent’’ and inserting ‘‘4 percent’’,
and
(C) by striking ‘‘3.75 percent’’ and inserting ‘‘5 percent’’.
(2) EFFECTIVE DATE.—Except as provided in paragraph (3),
the amendments made by this subsection shall apply to taxable
years ending after December 31, 2006.
(3) TRANSITION RULE.—
(A) IN GENERAL.—In the case of a specified transitional
taxable year for which an election under section 41(c)(4)
of the Internal Revenue Code of 1986 applies, the credit
determined under section 41(a)(1) of such Code shall be
equal to the sum of—
(i) the applicable 2006 percentage multiplied by
the amount determined under section 41(c)(4)(A) of
such Code (as in effect for taxable years ending on
December 31, 2006), plus
(ii) the applicable 2007 percentage multiplied by
the amount determined under section 41(c)(4)(A) of
such Code (as in effect for taxable years ending on
January 1, 2007).
(B) DEFINITIONS.—For purposes of subparagraph (A)—

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