Q: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
SECTION 1. SHORT TITLE; REFERENCES.

    (a) Short Title.--This Act may be cited as the ``Small Business Tax 
Extenders Act of 2012''.
    (b) References.--Except as otherwise expressly provided, whenever 
in this Act an amendment or repeal is expressed in terms of an 
amendment to, or repeal of, a section or other provision, the reference 
shall be considered to be made to a section or other provision of the 
Internal Revenue Code of 1986.

SEC. 2. EXTENSION OF TEMPORARY EXCLUSION OF 100 PERCENT OF GAIN ON 
              CERTAIN SMALL BUSINESS STOCK.

    (a) In General.--Paragraph (4) of section 1202(a) is amended--
            (1) by striking ``January 1, 2012'' and inserting ``January 
        1, 2013'', and
            (2) by striking ``and 2011'' and inserting ``, 2011, and 
        2012'' in the heading thereof.
    (b) Effective Date.--The amendments made by this section shall 
apply to stock acquired after December 31, 2011.

SEC. 3. EXTENSION OF 5-YEAR CARRYBACK OF GENERAL BUSINESS CREDITS OF 
              ELIGIBLE SMALL BUSINESSES.

    (a) In General.--Subparagraph (A) of section 39(a)(4) is amended by 
inserting ``, 2011, or 2012'' after ``2010''.
    (b) Effective Date.--The amendment made by this section shall apply 
to credits determined in taxable years beginning after December 31, 
2010.

SEC. 4. EXTENSION OF ALTERNATIVE MINIMUM TAX RULES FOR GENERAL BUSINESS 
              CREDITS OF ELIGIBLE SMALL BUSINESSES.

    (a) In General.--Subparagraph (A) of section 38(c)(5) is amended by 
inserting ``, 2011, or 2012'' after ``2010''.
    (b) Effective Date.--The amendments made by this section shall 
apply to credits determined in taxable years beginning after December 
31, 2010, and to carrybacks of such credits.

SEC. 5. EXTENSION OF REDUCTION IN RECOGNITION PERIOD FOR BUILT-IN GAINS 
              TAX.

    (a) In General.--Clause (ii) of section 1374(d)(7)(B) of the 
Internal Revenue Code of 1986 is amended by inserting ``2012, or 
2013,'' after ``2011,''.
    (b) Conforming Amendment.--The heading for section 1374(d)(7)(B) is 
amended by striking ``and 2011'' and inserting ``2011, and 2012''.
    (c) Technical Amendment.--Subparagraph (B) of section 1374(d)(7) of 
such Code is amended by striking ``The preceding sentence'' and 
inserting the following: ``For purposes of applying this subparagraph 
to an installment sale, each portion of such installment sale shall be 
treated as a sale occurring in the taxable year in which the first 
portion of such installment sale occurred. This subparagraph''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2011.

SEC. 6. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF 
              CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

    (a) In General.--Section 179(b) is amended--
            (1) by striking ``2010 or 2011'' each place it appears in 
        paragraph (1)(B) and (2)(B) and inserting ``2010, 2011, or 
        2012'',
            (2) by striking ``2012'' each place it appears in paragraph 
        (1)(C) and (2)(C) and inserting ``2013'', and
            (3) by striking ``2012'' each place it appears in paragraph 
        (1)(D) and (2)(D) and inserting ``2013''.
    (b) Inflation Adjustment.--Subparagraph (A) of section 179(b)(6) is 
amended by striking ``2012'' and inserting ``2013''.
    (c) Computer Software.--Section 179(d)(1)(A)(ii) is amended by 
striking ``2013'' and inserting ``2014''.
    (d) Election.--Section 179(c)(2) is amended by striking ``2013'' 
and inserting ``2014''.
    (e) Special Rules for Treatment of Qualified Real Property.--
Section 179(f)(1) is amended by striking ``2010 or 2011'' and inserting 
``2010, 2011, or 2012''.
    (f) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2011.

SEC. 7. EXTENSION OF SPECIAL RULE FOR LONG-TERM CONTRACT ACCOUNTING.

    (a) In General.--Clause (ii) of section 460(c)(6)(B) is amended by 
striking ``January 1, 2011 (January 1, 2012'' and inserting ``January 
1, 2013 (January 1, 2014''.
    (b) Effective Date.--The amendment made by this section shall apply 
to property placed in service after December 31, 2010.

SEC. 8. EXTENSION OF INCREASED AMOUNT ALLOWED AS A DEDUCTION FOR START-
              UP EXPENDITURES.

    (a) In General.--Paragraph (3) of section 195(b) is amended--
            (1) by inserting ``, 2001, or 2012'' after ``2010'', and
            (2) by inserting ``2011, and 2012'' in the heading thereof.
    (b) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after 
December 31, 2010.

SEC. 9. EXTENSION OF ALLOWANCE OF DEDUCTION FOR HEALTH INSURANCE IN 
              COMPUTING SELF-EMPLOYMENT TAXES.

    (a) In General.--Paragraph (4) of section 162(l) is amended by 
striking ``December 31, 2010'' and inserting ``December 31, 2012''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2010.
A:
Small Business Tax Extenders Act of 2012 - Amends the Internal Revenue Code to extend through 2012: (1) the 100% exclusion from gross income of gain from the sale or exchange of certain small business stock; (2) the five-year carryback of the general business tax credits of eligible small businesses; (3) the offset against the alternative minimum tax (AMT) of general business tax credits; (4) the reduction (from seven to five years) in the recognition period for the built-in gains of S corporations; (5) the increased expensing allowance for depreciable business assets, including computer software; (6) the special tax rule for long-term contract accounting; (7) the increased tax deduction for small business start-up expenditures; and (8) the tax deduction for health insurance premiums in computing self-employment taxable income.