“VIII Fair share tax on high-income taxpayers
“59B. Fair share tax
“(a) General rule
“(1) Phase-in of tax—In the case of any high-income taxpayer, there is hereby imposed for a taxable year (in addition to any other tax imposed by this subtitle) a tax equal to the product of—
“(A) the amount determined under paragraph (2), and
“(B) a fraction (not to exceed 1)—
“(i) the numerator of which is the excess of—
“(I) the taxpayer's adjusted gross income, over
“(II) the dollar amount in effect under subsection (c)(1), and
“(ii) the denominator of which is $4,000,000 ($2,000,000 in the case of a married individual who files a separate return).
“(2) Amount of tax—The amount of tax determined under this paragraph is an amount equal to the excess (if any) of—
“(A) the tentative fair share tax for the taxable year, over
“(B) the excess of—
“(i) the sum of—
“(I) the regular tax liability (as defined in section 26(b)) for the taxable year, determined without regard to any tax liability determined under this section,
“(II) the tax imposed by section 55 for the taxable year, plus
“(III) the payroll tax for the taxable year, over
“(ii) the credits allowable under part IV of subchapter A (other than sections 27(a), 31, and 34).
“(b) Tentative fair share tax—For purposes of this section—
“(1) In general—The tentative fair share tax for the taxable year is 30 percent of the excess of—
“(A) the adjusted gross income of the taxpayer, over
“(B) the modified charitable contribution deduction for the taxable year.
“(2) Modified charitable contribution deduction—For purposes of paragraph (1)—
“(A) In general—The modified charitable contribution deduction for any taxable year is an amount equal to the amount which bears the same ratio to the deduction allowable under section 170 (section 642(c) in the case of a trust or estate) for such taxable year as—
“(i) the amount of itemized deductions allowable under the regular tax (as defined in section 55) for such taxable year, determined after the application of section 68, bears to
“(ii) such amount, determined before the application of section 68.
“(B) Taxpayer must itemize—In the case of any individual who does not elect to itemize deductions for the taxable year, the modified charitable contribution deduction shall be zero.
“(c) High-Income taxpayer—For purposes of this section—
“(1) In general—The term high-income taxpayer means, with respect to any taxable year, any taxpayer (other than a corporation) with an adjusted gross income for such taxable year in excess of $1,000,000 (50 percent of such amount in the case of a married individual who files a separate return).
“(2) Inflation adjustment
“(A) In general—In the case of a taxable year beginning after 2013, the $1,000,000 amount under paragraph (1) shall be increased by an amount equal to—
“(i) such dollar amount, multiplied by
“(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting “calendar year 2012” for “calendar year 1992” in subparagraph (B) thereof.
“(B) Rounding—If any amount as adjusted under subparagraph (A) is not a multiple of $10,000, such amount shall be rounded to the next lowest multiple of $10,000.
“(d) Payroll tax—For purposes of this section, the payroll tax for any taxable year is an amount equal to the excess of—
“(1) the taxes imposed on the taxpayer under sections 1401, 1411, 3101, 3201, and 3211(a) (to the extent such tax is attributable to the rate of tax in effect under section 3101) with respect to such taxable year or wages or compensation received during such taxable year, over
“(2) the deduction allowable under section 164(f) for such taxable year.
“(e) Special rule for estates and trusts—For purposes of this section, in the case of an estate or trust, adjusted gross income shall be computed in the manner described in section 67(e).
“(f) Not treated as tax imposed by this chapter for certain purposes—The tax imposed under this section shall not be treated as tax imposed by this chapter for purposes of determining the amount of any credit under this chapter (other than the credit allowed under section 27(a)) or for purposes of section 55.”
“280I. Outsourcing expenses
“(a) In general—No deduction otherwise allowable under this chapter shall be allowed for any specified outsourcing expense.
“(b) Specified outsourcing expense—For purposes of this section—
“(1) In general—The term “specified outsourcing expense” means—
“(A) any eligible expense paid or incurred by the taxpayer in connection with the elimination of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located within the United States, and
“(B) any eligible expense paid or incurred by the taxpayer in connection with the establishment of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located outside the United States,
“(2) Eligible expenses—The term “eligible expenses” means—
“(A) any amount for which a deduction is allowed to the taxpayer under section 162, and
“(B) permit and license fees, lease brokerage fees, equipment installation costs, and, to the extent provided by the Secretary, other similar expenses.
“(3) Business unit—The term “business unit” means—
“(A) any trade or business, and
“(B) any line of business, or functional unit, which is part of any trade or business.
“(4) Expanded affiliated group—The term “expanded affiliated group” means an affiliated group as defined in section 1504(a), determined without regard to section 1504(b)(3) and by substituting “more than 50 percent” for “at least 80 percent” each place it appears in section 1504(a). A partnership or any other entity (other than a corporation) shall be treated as a member of an expanded affiliated group if such entity is controlled (within the meaning of section 954(d)(3)) by members of such group (including any entity treated as a member of such group by reason of this paragraph).
“(5) Operating expenses not taken into account—Any amount paid or incurred in connection with the on-going operation of a business unit shall not be treated as an amount paid or incurred in connection with the establishment or elimination of such business unit.
“(c) Special rules
“(1) Application to deductions for depreciation and amortization—In the case of any portion of a specified outsourcing expense which is not deductible in the taxable year in which paid or incurred, such portion shall neither be chargeable to capital account nor amortizable.
“(2) Possessions treated as part of the United States—For purposes of this section, the term “United States” shall be treated as including each possession of the United States (including the Commonwealth of Puerto Rico and the Commonwealth of the Northern Mariana Islands).
“(d) Regulations—The Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including regulations which provide (or create a rebuttable presumption) that certain establishments of business units outside the United States will be treated as relocations (based on timing or such other factors as the Secretary may provide) of business units eliminated within the United States.”
“(4) Earnings and profits determined without regard to specified outsourcing expenses—For purposes of this subsection, earnings and profits of any controlled foreign corporation shall be determined without regard to any specified outsourcing expense (as defined in section 280I(b)).”
“(1) Crude oil—The term crude oil includes crude oil condensates, natural gasoline, any bitumen or bituminous mixture, and any oil derived from a bitumen or bituminous mixture.”