Title VII—Finance

Title VII is organized into four subtitles:

• Subtitle A—Tax
• Subtitle B—Health
• Subtitle C—Increase in Debt Limit
• Subtitle D—Unemployment

The Congress.gov overview, prepared by the Congressional Research Service, supplies explanatory background. The official-source records below control the enacted text.

Title VII index

OBBBA Text

Enacted sections in Title VII. 140 local pages.

• Sec. 70001. References to the internal revenue code of 1986, etc
• Sec. 70101. Extension and enhancement of reduced rates
• Sec. 70102. Extension and enhancement of increased standard deduction
• Sec. 70103. Termination of deduction for personal exemptions other than temporary senior deduction
• Sec. 70104. Extension and enhancement of increased child tax credit
• Sec. 70105. Extension and enhancement of deduction for qualified business income
• Sec. 70106. Extension and enhancement of increased estate and gift tax exemption amounts
• Sec. 70107. Extension of increased alternative minimum tax exemption amounts and modification of phaseout thresholds
• Sec. 70108. Extension and modification of limitation on deduction for qualified residence interest
• Sec. 70109. Extension and modification of limitation on casualty loss deduction
• Sec. 70110. Termination of miscellaneous itemized deductions other than educator expenses
• Sec. 70111. Limitation on tax benefit of itemized deductions
• Sec. 70112. Extension and modification of qualified transportation fringe benefits
• Sec. 70113. Extension and modification of limitation on deduction and exclusion for moving expenses
• Sec. 70114. Extension and modification of limitation on wagering losses
• Sec. 70115. Extension and enhancement of increased limitation on contributions to able accounts
• Sec. 70116. Extension and enhancement of savers credit allowed for able contributions
• Sec. 70117. Extension of rollovers from qualified tuition programs to able accounts permitted
• Sec. 70118. Extension of treatment of certain individuals performing services in the sinai peninsula and enhancement to include additional areas
• Sec. 70119. Extension and modification of exclusion from gross income of student loans discharged on account of death or disability
• Sec. 70120. Limitation on individual deductions for certain state and local taxes, etc
• Sec. 70201. No tax on tips
• Sec. 70202. No tax on overtime
• Sec. 70203. No tax on car loan interest
• Sec. 70204. Trump accounts and contribution pilot program
• Sec. 70301. Full expensing for certain business property
• Sec. 70302. Full expensing of domestic research and experimental expenditures
• Sec. 70303. Modification of limitation on business interest
• Sec. 70304. Extension and enhancement of paid family and medical leave credit
• Sec. 70305. Exceptions from limitations on deduction for business meals
• Sec. 70306. Increased dollar limitations for expensing of certain depreciable business assets
• Sec. 70307. Special depreciation allowance for qualified production property
• Sec. 70308. Enhancement of advanced manufacturing investment credit
• Sec. 70309. Spaceports are treated like airports under exempt facility bond rules
• Sec. 70311. Modifications related to foreign tax credit limitation
• Sec. 70312. Modifications to determination of deemed paid credit for taxes properly attributable to tested income
• Sec. 70313. Sourcing certain income from the sale of inventory produced in the united states
• Sec. 70321. Modification of deduction for foreign-derived deduction eligible income and net cfc tested income
• Sec. 70322. Determination of deduction eligible income
• Sec. 70323. Rules related to deemed intangible income
• Sec. 70331. Extension and modification of base erosion minimum tax amount
• Sec. 70341. Coordination of business interest limitation with interest capitalization provisions
• Sec. 70342. Definition of adjusted taxable income for business interest limitation
• Sec. 70351. Permanent extension of look-thru rule for related controlled foreign corporations
• Sec. 70352. Repeal of election for 1-month deferral in determination of taxable year of specified foreign corporations
• Sec. 70353. Restoration of limitation on downward attribution of stock ownership in applying constructive ownership rules
• Sec. 70354. Modifications to pro rata share rules
• Sec. 70401. Enhancement of employer-provided child care credit
• Sec. 70402. Enhancement of adoption credit
• Sec. 70403. Recognizing indian tribal governments for purposes of determining whether a child has special needs for purposes of the adoption credit
• Sec. 70404. Enhancement of the dependent care assistance program
• Sec. 70405. Enhancement of child and dependent care tax credit
• Sec. 70411. Tax credit for contributions of individuals to scholarship granting organizations
• Sec. 70412. Exclusion for employer payments of student loans
• Sec. 70413. Additional expenses treated as qualified higher education expenses for purposes of 529 accounts
• Sec. 70414. Certain postsecondary credentialing expenses treated as qualified higher education expenses for purposes of 529 accounts
• Sec. 70415. Modification of excise tax on investment income of certain private colleges and universities
• Sec. 70416. Expanding application of tax on excess compensation within tax-exempt organizations
• Sec. 70421. Permanent renewal and enhancement of opportunity zones
• Sec. 70422. Permanent enhancement of low-income housing tax credit
• Sec. 70423. Permanent extension of new markets tax credit
• Sec. 70424. Permanent and expanded reinstatement of partial deduction for charitable contributions of individuals who do not elect to itemize
• Sec. 70425. 0.5 percent floor on deduction of contributions made by individuals
• Sec. 70426. 1-percent floor on deduction of charitable contributions made by corporations
• Sec. 70427. Permanent increase in limitation on cover over of tax on distilled spirits
• Sec. 70428. Nonprofit community development activities in remote native villages
• Sec. 70429. Adjustment of charitable deduction for certain expenses incurred in support of native alaskan subsistence whaling
• Sec. 70430. Exception to percentage of completion method of accounting for certain residential construction contracts
• Sec. 70431. Expansion of qualified small business stock gain exclusion
• Sec. 70432. Repeal of revision to de minimis rules for third party network transactions
• Sec. 70433. Increase in threshold for requiring information reporting with respect to certain payees
• Sec. 70434. Treatment of certain qualified sound recording productions
• Sec. 70435. Exclusion of interest on loans secured by rural or agricultural real property
• Sec. 70436. Reduction of transfer and manufacturing taxes for certain devices
• Sec. 70437. Treatment of capital gains from the sale of certain farmland property
• Sec. 70438. Extension of rules for treatment of certain disaster-related personal casualty losses
• Sec. 70439. Restoration of taxable reit subsidiary asset test
• Sec. 70501. Termination of previously-owned clean vehicle credit
• Sec. 70502. Termination of clean vehicle credit
• Sec. 70503. Termination of qualified commercial clean vehicles credit
• Sec. 70504. Termination of alternative fuel vehicle refueling property credit
• Sec. 70505. Termination of energy efficient home improvement credit
• Sec. 70506. Termination of residential clean energy credit
• Sec. 70507. Termination of energy efficient commercial buildings deduction
• Sec. 70508. Termination of new energy efficient home credit
• Sec. 70509. Termination of cost recovery for energy property
• Sec. 70510. Modifications of zero-emission nuclear power production credit
• Sec. 70511. Termination of clean hydrogen production credit
• Sec. 70512. Termination and restrictions on clean electricity production credit
• Sec. 70513. Termination and restrictions on clean electricity investment credit
• Sec. 70514. Phase-out and restrictions on advanced manufacturing production credit
• Sec. 70515. Restriction on the extension of advanced energy project credit program
• Sec. 70521. Extension and modification of clean fuel production credit
• Sec. 70522. Restrictions on carbon oxide sequestration credit
• Sec. 70523. Intangible drilling and development costs taken into account for purposes of computing adjusted financial statement income
• Sec. 70524. Income from hydrogen storage, carbon capture, advanced nuclear, hydropower, and geothermal energy added to qualifying income of certain publicly traded partnerships
• Sec. 70525. Allow for payments to certain individuals who dye fuel
• Sec. 70531. Modifications to de minimis entry privilege for commercial shipments
• Sec. 70601. Modification and extension of limitation on excess business losses of noncorporate taxpayers
• Sec. 70602. Treatment of payments from partnerships to partners for property or services
• Sec. 70603. Excessive employee remuneration from controlled group members and allocation of deduction
• Sec. 70604. Excise tax on certain remittance transfers
• Sec. 70605. Enforcement provisions with respect to covid-related employee retention credits
• Sec. 70606. Social security number requirement for american opportunity and lifetime learning credits
• Sec. 70607. Task force on the replacement of direct file
• Sec. 71101. Moratorium on implementation of rule relating to eligibility and enrollment in medicare savings programs
• Sec. 71102. Moratorium on implementation of rule relating to eligibility and enrollment for medicaid, chip, and the basic health program
• Sec. 71103. Reducing duplicate enrollment under the medicaid and chip programs
• Sec. 71104. Ensuring deceased individuals do not remain enrolled
• Sec. 71105. Ensuring deceased providers do not remain enrolled
• Sec. 71106. Payment reduction related to certain erroneous excess payments under medicaid
• Sec. 71107. Eligibility redeterminations
• Sec. 71108. Revising home equity limit for determining eligibility for long-term care services under the medicaid program
• Sec. 71109. Alien medicaid eligibility
• Sec. 71110. Expansion fmap for emergency medicaid
• Sec. 71111. Moratorium on implementation of rule relating to staffing standards for long-term care facilities under the medicare and medicaid programs
• Sec. 71112. Reducing state medicaid costs
• Sec. 71113. Federal payments to prohibited entities
• Sec. 71114. Sunsetting increased fmap incentive
• Sec. 71115. Provider taxes
• Sec. 71116. State directed payments
• Sec. 71117. Requirements regarding waiver of uniform tax requirement for medicaid provider tax
• Sec. 71118. Requiring budget neutrality for medicaid demonstration projects under section 1115
• Sec. 71119. Requirement for states to establish medicaid community engagement requirements for certain individuals
• Sec. 71120. Modifying cost sharing requirements for certain expansion individuals under the medicaid program
• Sec. 71121. Making certain adjustments to coverage of home or community-based services under medicaid
• Sec. 71201. Limiting medicare coverage of certain individuals
• Sec. 71202. Temporary payment increase under the medicare physician fee schedule to account for exceptional circumstances
• Sec. 71203. Expanding and clarifying the exclusion for orphan drugs under the drug price negotiation program
• Sec. 71301. Permitting premium tax credit only for certain individuals
• Sec. 71302. Disallowing premium tax credit during periods of medicaid ineligibility due to alien status
• Sec. 71303. Requiring verification of eligibility for premium tax credit
• Sec. 71304. Disallowing premium tax credit in case of certain coverage enrolled in during special enrollment period
• Sec. 71305. Eliminating limitation on recapture of advance payment of premium tax credit
• Sec. 71306. Permanent extension of safe harbor for absence of deductible for telehealth services
• Sec. 71307. Allowance of bronze and catastrophic plans in connection with health savings accounts
• Sec. 71308. Treatment of direct primary care service arrangements
• Sec. 71401. Rural health transformation program
• Sec. 72001. Modification of limitation on the public debt
• Sec. 73001. Ending unemployment payments to jobless millionaires

Law as Amended

Resulting U.S. Code sections changed by Title VII. 25 local pages.

• § 1321. Administrative exemptions
• § 1. Tax imposed
• § 112. Certain combat zone compensation of members of the Armed Forces
• § 25B. Elective deferrals and IRA contributions by certain individuals
• § 4101. Registration and bond
• § 5000A. Requirement to maintain minimum essential coverage
• § 1315. Demonstration projects
• § 1320f–1. Selection of negotiation-eligible drugs as selected drugs
• § 1395. Prohibition against any Federal interference
• § 1395w–4. Payment for physicians’ services
• § 1396a. State plans for medical assistance
• § 1396b. Payment to States
• § 1396d. Definitions
• § 1396n. Compliance with State plan and payment provisions
• § 1396o. Use of enrollment fees, premiums, deductions, cost sharing, and similar charges
• § 1396o–1. State option for alternative premiums and cost sharing
• § 1396p. Liens, adjustments and recoveries, and transfers of assets
• § 1396u–2. Provisions relating to managed care
• § 1397aa. Purpose; State child health plans
• § 1397bb. General contents of State child health plan; eligibility; outreach
• § 1397cc. Coverage requirements for children’s health insurance
• § 1397ee. Payments to States
• § 1397gg. Strategic objectives and performance goals; plan administration
• § 18081. Procedures for determining eligibility for Exchange participation, premium tax credits and reduced cost-sharing, and individual responsibility exemptions
• § 18082. Advance determination and payment of premium tax credits and cost-sharing reductions

Impact

Available section-by-section impact analyses for Title VII. 25 local pages.

• Sec. 70001. References to the Internal Revenue Code of 1986, etc
• Sec. 70101. Extension and enhancement of reduced rates
• Sec. 70102. Extension and enhancement of increased standard deduction
• Sec. 70103. Termination of deduction for personal exemptions other than temporary senior deduction
• Sec. 70104. Extension and enhancement of increased child tax credit
• Sec. 70105. Extension and enhancement of deduction for qualified business income
• Sec. 70106. Extension and enhancement of increased estate and gift tax exemption amounts
• Sec. 70107. Extension of increased alternative minimum tax exemption amounts and modification of phaseout thresholds
• Sec. 70108. Extension and modification of limitation on deduction for qualified residence interest
• Sec. 70109. Extension and modification of limitation on casualty loss deduction
• Sec. 70110. Termination of miscellaneous itemized deductions other than educator expenses
• Sec. 70111. Limitation on tax benefit of itemized deductions
• Sec. 70112. Extension and modification of qualified transportation fringe benefits
• Sec. 70113. Extension and modification of limitation on deduction and exclusion for moving expenses
• Sec. 70114. Extension and modification of limitation on wagering losses
• Sec. 70115. Extension and enhancement of increased limitation on contributions to ABLE accounts
• Sec. 70116. Extension and enhancement of savers credit allowed for ABLE contributions
• Sec. 70117. Extension of rollovers from qualified tuition programs to ABLE accounts permitted
• Sec. 70118. Extension of treatment of certain individuals performing services in the Sinai Peninsula and enhancement to include additional areas
• Sec. 70119. Extension and modification of exclusion from gross income of student loans discharged on account of death or disability
• Sec. 70120. Limitation on individual deductions for certain state and local taxes, etc
• Sec. 70201. No tax on tips
• Sec. 70202. No tax on overtime
• Sec. 70203. No tax on car loan interest
• Sec. 70204. Trump accounts and contribution pilot program