122 STAT. 613
PUBLIC LAW 110–185—FEB. 13, 2008
Public Law 110–185
To provide economic stimulus through recovery rebates to individuals, incentives
for business investment, and an increase in conforming and FHA loan limits.
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) SHORT TITLE.—This Act may be cited as the ‘‘Economic
Stimulus Act of 2008’’.
(b) TABLE OF CONTENTS.—The table of contents of this Act
is as follows:
Sec. 1. Short title; table of contents.
TITLE I—RECOVERY REBATES AND INCENTIVES FOR BUSINESS
Sec. 101. 2008 recovery rebates for individuals.
Sec. 102. Temporary increase in limitations on expensing of certain depreciable
Sec. 103. Special allowance for certain property acquired during 2008.
TITLE II—HOUSING GSE AND FHA LOAN LIMITS
Sec. 201. Temporary conforming loan limit increase for Fannie Mae and Freddie
Sec. 202. Temporary loan limit increase for FHA.
TITLE III—EMERGENCY DESIGNATION
Sec. 301. Emergency designation.
TITLE I—RECOVERY REBATES AND IN-
CENTIVES FOR BUSINESS INVEST-
SEC. 101. 2008 RECOVERY REBATES FOR INDIVIDUALS.
(a) IN GENERAL.—Section 6428 of the Internal Revenue Code
of 1986 is amended to read as follows:
‘‘SEC. 6428. 2008 RECOVERY REBATES FOR INDIVIDUALS.
‘‘(a) IN GENERAL.—In the case of an eligible individual, there
shall be allowed as a credit against the tax imposed by subtitle
A for the first taxable year beginning in 2008 an amount equal
to the lesser of—
‘‘(1) net income tax liability, or
‘‘(2) $600 ($1,200 in the case of a joint return).
‘‘(b) SPECIAL RULES.—
‘‘(1) IN GENERAL.—In the case of a taxpayer described in
26 USC 6428.
26 USC 1 note.
Stimulus Act of
Feb. 13, 2008
VerDate Aug 31 2005 06:06 Feb 20, 2008 Jkt 069139 PO 00185 Frm 00001 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL185.110 APPS06 PsN: PUBL185
dkrause on GSDDPC2