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The Bipartisan Budget Act of 2018 includes the following key provisions:

  • Extension of exclusion from gross income of discharge of qualified principal residence indebtedness
  • Extension of mortgage insurance premiums treated as qualified residence interest
  • Extension of above-the-line deduction for qualified tuition and related expenses
  • Extension of Indian employment tax credit
  • Extension of railroad track maintenance credit
  • Extension of mine rescue team training credit 
  • Extension of classification of certain race horses as 3-year property
  • Extension of 7-year recovery period for motorsports entertainment complexes
  • Extension of accelerated depreciation for business property on an Indian reservation
  • Extension of election to expense mine safety equipment.
  • Extension of special expensing rules for certain productions
  • Extension of deduction allowable with respect to income attributable to domestic production activities in Puerto Rico
  • Extension of special rule relating to qualified timber gain
  • Extension of empowerment zone tax incentives
  • Extension of American Samoa economic development credit
  • Extension of credit for nonbusiness energy property
  • Extension and modification of credit for residential energy property
  • Extension of credit for new qualified fuel cell motor vehicles
  • Extension of credit for alternative fuel vehicle refueling property
  • Extension of credit for 2-wheeled plug-in electric vehicles 
  • Extension of second generation biofuel producer credit
  • Extension of biodiesel and renewable diesel incentives
  • Extension of production credit for Indian coal facilities
  • Extension of credits with respect to facilities producing energy from certain renewable resources
  • Extension of credit for energy-efficient new homes
  • Extension and phaseout of energy credit
  • Extension of special allowance for second generation biofuel plant property
  • Extension of energy efficient commercial buildings deduction
  • Extension of special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities
  • Extension of excise tax credits relating to alternative fuels
  • Extension of Oil Spill Liability Trust Fund financing rate

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