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![Official portrait of Rep. Armey, Richard K. [R-TX-26]](https://www.congress.gov/img/member/a000217_200.jpg)
United States · Official source
2,206 records where Rep. Armey, Richard K. [R-TX-26] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 14 March 2001
Transportation Tax Equity and Fairness Act - Amends the Internal Revenue Code to repeal the special fuel excise tax on railroads and inland waterway transportation. Subjects diesel fuel used in trains to the additional tax for the Leaking Underground Storage Tank Trust Fund.
United States · United States Congress · 14 March 2001
Comprehensive Retirement Security and Pension Reform Act of 2001 - Amends the Internal Revenue Code (the Code) with respect to pensions. (All the following are amendments to the Code, except where the Employee Retirement Income Security Act of 1974, ERISA, is mentioned.) Increases: (1) annual dollar Individual Retirement Account (IRA) contribution limits; and (2) benefit and contribution limits, with indexes for inflation. Revises requirements relating to: (1) plan loans for subchapter S owners, partners, and sole proprietors; and (2) specified top-heavy rules. Provides that elective deferrals shall not be taken into account for purposes of limits on certain plan contributions. Repeals specified coordination requirements for deferred compensation plans of State and local governments and tax-exempt organizations. Revises certain deduction limits for stock bonus and profit sharing trusts and for defined contribution plans. Provides for optional treatment of elective deferrals as after-tax contributions. Allows individuals age 50 or older to make additional contributions to an applicable employer plan (section 401(k) or similar plan). Sets forth requirements relating to equitable treatment for contributions of employees to defined contribution plans. Provides for faster vesting of certain employer matching contributions under the Code and ERISA. Revises: (1) minimum distribution rules; (2) requirements relating to tax treatment of division of section 457 plan benefits upon divorce; and (3) provisions for safe harbor relief for hardship withdrawals from 401(k) plans. Permits, under certain conditions, rollovers: (1) from and to various types of plans; (2) of IRAs into workplace retirement plans; and (3) of after-tax contributions in an exempt trust. Sets forth a hardship exception to the 60-day rule. Sets forth requirements for treatment of forms of distribution available under transferor and transferee plans under the Code and ERISA. Revises restrictions on distributions, including the same desk exception. Allows trustee-to-trustee transfers to purchase permissive service credit with respect to governmental defined benefit plans. Allows employers to disregard rollovers for purposes of cash-out amounts, under retirement plan provisions of the Code. Revises minimum distribution and inclusion requirements for section 457 plans. Repeals, for plan years beginning in 2004 and following years, the current liability full funding limit under the Code and ERISA. Revises maximum contribution deduction rules, and applies them to all defined benefit plans. Allows an employer, in determining the amount of nondeductible contributions for any taxable year, to elect not to take into account any contributions to a defined benefit plan except to the extent they exceed the full-funding limitation. Establishes an excise tax for the failure of a defined benefit plan or an individual account plan (except governmental, church, and other specified plans) subject to minimum funding standards to meet specified notice requirements, under the Code and ERISA, for plan amendments which significantly reduce benefit accruals. Makes certain compensation limitations for defined benefit plans inapplicable to governmental and multiemployer plans. Prohibits combining or aggregating a multiemployer plan with any other plan maintained by the employer for the purpose of applying such limitations. Amends the Taxpayer Relief Act of 1997 to protect the investment of employee contributions to 401(k) plans by providing that specified requirements apply to elective deferrals for plan years beginning after December 31, 1998. Requires that pension benefit statements be furnished annually (once every three years for defined benefit plans) or on request. Establishes an excise tax for certain prohibited allocations of stock in an S corporation ESOP. Revises Code and ERISA requirements relating to timing of plan valuations. Allows applicable dividends of ESOPs to be reinvested without loss of dividend deduction. Repeals a transition rule relating to certain highly compensated employees under the Tax Reform Act of 1986. Directs the Secretary to modify specified regulations with respect to certain plan participation by employees of tax-exempt entities. Treats the provision of certain retirement planning services by an employer for an employee as a de minimis fringe benefit to the extent it is not treated as a working condition fringe. Directs the Secretary of the Treasury to provide simplified annual filing requirements for retirement plans with assets below a specified amount, if they cover: (1) one participant (an owner and spouse); or (2) fewer than 25 employees. Directs the Secretary to continue to update and improve the Employee Plans Compliance Resolution System, or any successor program. Repeals a multiple use test. Allows certain alternative ways of satisfying nondiscrimination, coverage, and line of business rules. Exempts plans maintained by any governmental entity from certain nondiscrimination rules. Directs the Secretary to modify specified regulations relating to the notice and consent period regarding distributions. Revises ERISA provisions relating to: (1) annual report dissemination; (2) the National Summit on Retirement Savings; (3) missing participants; (4) Pension Benefit Guaranty Corporation (PBGC) reduction of premiums for new plans of small employers and of additional premiums for new and small plans; (5) PBGC authority to pay interest on premium overpayment refunds; (6) substantial owner benefits in terminated plans; (7) civil penalties for breach of fiduciary responsibility; and (8) benefit suspension notices. Prescribes time requirements for plan amendments or annuity contract amendments.
United States · United States Congress · 14 March 2001
Death Tax Elimination Act - Repeals the estate tax, gift tax, and the tax on generation-skipping transfers, effective January 1, 2011. Provides for annual reductions of the tax until such date. Increases the unified estate and gift tax credit to $1.3 million. Repeals the estate and gift tax provisions applicable to family-owned businesses. Amends provisions concerning the special rules for allocation of the generation-skipping tax (GST) exemption to provide, as a general rule, that: (1) if any individual makes an indirect skip during such individual's lifetime, any unused portion of such individual's GST exemption shall be allocated to the property transferred to the extent necessary to make the inclusion ratio for such property zero; and (2) if the amount of the indirect skip exceeds such unused portion, the entire unused portion shall be allocated to the property transferred. Declares that, if a trust is severed in a qualified severance, the trusts resulting from such severance shall be treated as separate trusts thereafter. Revises valuation rules for gifts for which a gift tax return was filed or deemed allocation made. Provides that, if an allocation of the GST exemption to any transfers of property is deemed to have been made at the close of an estate tax inclusion period, the value of the property shall be its value at such time. Directs the Secretary of the Treasury to prescribe circumstances and procedures under which extensions of time will be granted to make an allocation of GST exemption or an election not to apply specified allocation requirements to certain lifetime direct skips, indirect skips, or transfers to a particular trust. Increases the permissible number of partners or shareholders in a closely held business for purposes of eligibility for an extension of estate tax payments.
United States · United States Congress · 13 March 2001
Budget Responsibility and Efficiency Act of 2001 - Amends the Congressional Budget Act of 1974 to revise the Federal and congressional budget processes by establishing a two-year budgeting and appropriations cycle and timetable. Defines the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year. Conforms provisions of the Rules of the House of Representatives, provisions governing the President's budget, and requirements for certain strategic and performance plans and reports to the biennial framework. Provides a point of order against any measure that contains a specific authorization of appropriations unless such authorization is for each fiscal year in a biennium. Requires the President's budget submission for FY 2004 to identify budget accounts for which an appropriation should be made for each fiscal year of the FY 2004-2005 biennium. Directs congressional committees, during the 108th Congress, to work with the Comptroller General to develop plans to transition program authorizations to a multi-year schedule. Sets forth additional transition requirements. Makes this Act applicable to budget resolutions and appropriations for the biennium beginning with FY 2006.
United States · United States Congress · 7 March 2001
Sudan Peace Act - Declares that Congress: (1) condemns violations of human rights on all sides of the conflict in Sudan (including the Government of Sudan), the ongoing slave trade there, the Government's use and organization of "murahalliin" (or "mujahadeen"), Popular Defense Forces (PDF), and regular Sudanese Army units into raiding and slaving parties in Bahr al Ghazal, the Nuba Mountains, Upper Nile, and Blue Nile regions, and its aerial bombardment of civilian targets; and (2) recognizes that the use of raiding and slaving parties is a tool for creating food shortages as a systematic means to destroy the societies, culture, and economies of the Dinka, Nuer, and Nuba peoples in a policy of low-intensity ethnic cleansing. Authorizes the Secretary of State to utilize Department of State personnel for the support of ongoing negotiations, and eventual implementation of a peace settlement, between the Government of Sudan and opposition forces. Expresses the sense of Congress that the United Nations (UN) should be used as a tool to facilitate peace and recovery in Sudan. Directs the President to develop a contingency plan to provide, outside UN auspices, the greatest amount of U.S. Government and privately donated relief to all affected areas in Sudan, including the Nuba Mountains, Upper Nile, and the Blue Nile regions, in the event the Government of Sudan imposes a ban on Operation Lifeline Sudan air transport relief flights.
United States · United States Congress · 7 March 2001
ADA Notification Act - Amends the Americans with Disabilities Act of 1990 to deny a court jurisdiction over a civil action with respect to a place of public accommodation or a commercial facility unless: (1) before filing the complaint, the plaintiff provided to the defendant notice of the alleged violation (by registered mail or in person); (2) the notice identified the specific facts that constitute the alleged violation, including identification of the location at which, and the date on which, the violation occurred; (3) at least 90 days have elapsed after the date on which the notice was so provided; (4) the notice informed the defendant that the civil action could not be commenced until the expiration of such 90-day period; and (5) the complaint states that, as of the date on which the complaint is filed, the defendant has not corrected the alleged violation. Directs that, with respect to a civil action that does not meet the criteria: (1) the court shall impose an appropriate sanction upon the attorneys involved; and (2) if the criteria are subsequently met and the civil action proceeds, the court may not allow the plaintiff attorneys' fees or costs.
United States · United States Congress · 7 March 2001
Amends the Internal Revenue Code to expand the credit for expenditures to provide access to disabled individuals to include modifications enabling inter-city buses to meet Americans with Disabilities Act requirements.
United States · United States Congress · 6 March 2001
Skilled Workforce Enhancement Act of 2001 - Amends the Internal Revenue Code to provide small employers with a highly skilled trades training credit.
United States · United States Congress · 1 March 2001
Military Home School Children Equal Access Act of 2001 - Amends the Defense Dependents' Education Act of 1978 to allow home school students who are eligible for enrollment in a school of the overseas defense dependents' education system to use or receive auxiliary services of such schools without enrolling or registering for a minimum number of courses.
United States · United States Congress · 28 February 2001
Economic Growth and Tax Relief Act of 2001 - Amends the Internal Revenue Code, as of tax year 2001, to establish (in addition to existing brackets) a 12 percent individual tax bracket for each filing status. Caps taxable income levels for the 12 percent bracket at: (1) $12,000 for married individuals filing jointly; (2) $10,000 for heads of households; and (3) $6,000 for unmarried individuals or married individuals filing separately. Applies the current 15 percent bracket to income levels above the 12 percent caps but below current 15 percent caps. Prohibits minimum bracket amount inflation adjustments through tax year 2006. Revises the cost-of-living adjustment formula, as of tax year 2007. Provides, beginning in tax year 2002, for specified reductions in the 12, 28, 31, 36, and 39.6 percent individual (and estate) brackets. (Maintains the revised 15 percent bracket without further change.) Repeals mandatory reductions in the additional (three or more children) child tax credit and the earned income credit for taxpayers subject to the alternative minimum tax.
United States · United States Congress · 28 February 2001
Constitutional Amendment - Authorizes the President to disapprove any item of appropriation in any bill. Requires any item of appropriation contained in a bill approved by the President which is not disapproved to become law. Permits the Congress to reconsider any item so disapproved.
United States · United States Congress · 27 February 2001
North American Slavery Memorial Council Act - Establishes the North American Slavery Memorial Council to: (1) establish an architectural design for a national memorial and museum to slavery in North America appropriate to honor the memory of victims of slavery; (2) establish a single site within the District of Columbia suitable for construction and operation of the Memorial and Museum; and (3) construct and operate them.
United States · United States Congress · 14 February 2001
Hope for Children Act - Amends the Internal Revenue Code to increase the expenses allowable towards the adoption credit. Renames such credit as the "Tom Bliley adoption credit."
United States · United States Congress · 14 February 2001
Duchenne Muscular Dystrophy Childhood Assistance, Research and Education Amendments of 2001, or the DMD CARE Act - Amends the Public Health Service Act to require the Director of the National Institutes of Health to: (1) expand and intensify programs of the National Institute of Neurological Disorders and Stroke, National Institute of Arthritis and Musculoskeletal and Skin Diseases, and the National Institute of Child Health and Human Development (the National Institutes) with respect to research and related activities concerning Duchenne muscular dystrophy (DMD); (2) award grants or contracts to public or nonprofit entities for at least three DMD research centers of excellence; and (3) provide for donation, collection, and preservation of tissues and genetic materials for such research. Directs the Secretary of Health and Human Services to establish a Muscular Dystrophy Coordinating Committee to coordinate all Federal DMD health programs and activities. Authorizes the Secretary, through the Centers for Disease Control and Prevention (CDC), to award grants and cooperative agreements for the collection, analysis, and reporting of DMD data. Requires the establishment through the CDC of at least three regional centers of excellence in DMD epidemiology. Directs the Secretary to establish a DMD education and information program.
United States · United States Congress · 14 February 2001
Straight Talk on Social Security Act of 2001 - Amends the Social Security Act to require Social Security account statements to contain additional information, such as a statement of the current Social Security tax rates applicable to wages and self-employment income, including an indication of the combined total of such rates of employee and employer taxes with respect to wages.
United States · United States Congress · 14 February 2001
Constitutional Amendment - Declares that the word "person," as used in this amendment and in the fifth and 14th amendments to the Constitution, applies to all human beings regardless of age, health, function, or condition of dependency, including unborn offspring at every stage of their biological development. Prohibits depriving any unborn person of life. Declares that this amendment does not prohibit a law permitting medical procedures required to prevent the death of the mother.
United States · United States Congress · 8 February 2001
Higher Education Affordability Act - Amends the Internal Revenue Code to exclude from income distributions from qualified tuition programs used for qualifying higher education expenses. Includes within the definition of "qualified State tuition program" programs maintained by eligible educational institutions.
United States · United States Congress · 8 February 2001
Congratulates Ariel Sharon on his election as Israeli Prime Minister. Urges: (1) Palestinian Liberation Organization Chairman Yasser Arafat to use his influence and resources to see that violence in the Middle East is brought to an end; and (2) countries that neighbor Israel and the international community to respect the freely expressed will of the Israeli people and to be prepared to engage in constructive relations with the new Israeli Government. Restates the U.S. commitment to a secure peace for Israel.
United States · United States Congress · 7 February 2001
Unborn Victims of Violence Act of 2001 - Provides that: (1) whoever engages in conduct that violates specified provisions of the Federal criminal code, the Controlled Substances Act of 1970, or the Atomic Energy Act of 1954, or specified articles the Uniform Code of Military Justice (conduct constituting certain Federal violent crimes) and thereby causes the death of, or bodily injury to, a child who is in utero, shall be guilty of a separate offense; and (2) the punishment for that separate offense shall be the same as that provided under Federal law for that conduct had that injury or death occurred to the unborn child's mother. Specifies that a violation of such provisions does not require proof that: (1) the person engaging in the conduct had knowledge or should have had knowledge that the victim of the underlying offense was pregnant; or (2) the defendant (or accused) intended to cause the death of, or bodily injury to, the unborn child. Directs that if the person engaging in the conduct thereby intentionally kills or attempts to kill the unborn child, that person shall be punished as provided under the Federal criminal code for intentionally killing or attempting to kill a human being. Prohibits imposition of the death penalty for an offense under this Act. Bars prosecution under this Act: (1) of any person for conduct relating to an abortion for which the consent of the pregnant woman, or a person authorized by law to act on her behalf, has been obtained or for which such consent is implied by law; (2) for conduct relating to any medical treatment of the pregnant woman or her unborn child; or (3) of any woman with respect to her unborn child.
United States · United States Congress · 7 February 2001
Vietnam Veterans Memorial Education Act - Authorizes the Vietnam Veterans Memorial Fund, Inc., to construct a temporary education center for educating people about the Memorial. Requires the center to remain for ten years, after which Congress may reevaluate the continuing need for the center. Sets forth conditions for the use of excess coin funds under the United States Veterans Commemorative Coin Act of 1993 in the construction of such center, including that the Fund provide detailed information with respect to the use of such funds.
United States · United States Congress · 7 February 2001
Commends the people of Israel for reaffirming, through their participation in the February 6, 2001, election, their dedication to democratic ideals and congratulates Ariel Sharon on his election as Prime Minister. Expresses the pledge of the House of Representatives to work to strengthen bonds with the new Israeli Government and reaffirms its commitment to secure peace and security for Israel.
United States · United States Congress · 6 February 2001
Child Custody Protection Act - Amends the Federal criminal code to prohibit transporting an individual under age 18 across a State line to obtain an abortion and thereby abridging the right of a parent under a law in force in the State where the individual resides requiring parental involvement in a minor's abortion decision. Makes an exception if the abortion was necessary to save the life of the minor. Specifies that neither the minor transported nor her parent may be prosecuted or sued for a violation of this Act. Makes it an affirmative defense to a prosecution for, or to a civil action based on, such a violation that the defendant reasonably believed that before the individual obtained the abortion, the parental consent or notification or judicial authorization that would have been required had the abortion been performed in the State where the individual resides, took place. Authorizes any parent who suffers legal harm from a violation to obtain appropriate relief in a civil action. Defines "parent" to include a guardian, legal custodian, or person standing in loco parentis who has care and control of the minor, and with whom the minor regularly resides, who is designated by such law as a person to whom notification, or from whom consent, is required.
United States · United States Congress · 6 February 2001
Directs the Secretary of the Interior to: (1) purchase the Ronald Reagan Boyhood Complex in Dixon, Illinois, and related personal property; (2) designate the Complex as the Ronald Reagan Boyhood Home National Historic Site; (3) enter into a cooperative agreement with the Ronald Reagan Boyhood Home Foundation for the management, operation, and use of the Site; and (4) complete a general management plan for the Site.
United States · United States Congress · 6 February 2001
No Frills Prison Act of 2001 - Amends Federal criminal code provisions concerning the expenses of prisoners to prohibit the use of money from the Treasury to purchase cable television services or to rent or purchase videocassettes, videocassette recorders, or other audiovisual or electronic equipment used primarily for recreational purposes, with an exception for equipment for inmate training or educational programs.
United States · United States Congress · 6 February 2001
Securing Affordable Vocational and Collegiate Education (SAVE) Act - Amends the Internal Revenue Code to: (1) allow a limited deduction for amounts paid to any qualified State tuition program; and (2) provide that distributions from such programs used to pay qualified higher education expenses shall not be included in gross income.
United States · United States Congress · 6 February 2001
Alternative Minimum Tax Repeal Act of 2001 - Amends the Internal Revenue Code to repeal the alternative minimum tax.
United States · United States Congress · 31 January 2001
Bankruptcy Abuse Prevention and Consumer Protection Act of 2001 - Amends Federal bankruptcy law governing: (1) conversion of bankruptcy petitions; (2) abusive creditor practices; (3) debt reaffirmation and credit counseling; (4) domestic support obligations; (5) personal injury claims resulting from drug- or alcohol-impaired operation of a motor vehicle or vessel; (6) Federal criminal law enforcement with regard to abusive reaffirmations of debt; (7) fraudulent bankruptcy schedules; (8) education and retirement benefits; and (9) nondischarge from a debt for restitution or damages awarded in a civil action against the debtor for willful or malicious injury that caused personal injury or death of an individual. Prescribes guidelines regarding: (1) discouragement of bankruptcy abuse; (2) general and small business bankruptcy; (3) bankruptcy data dissemination and bankruptcy tax provisions; (4) ancillary and other cross-border cases to incorporate the Model Law on Cross-Border Insolvency; and (5) financial contracts and transfers entered into with an insolvent insured depository institution before its conservatorship or receivership. Reenacts Chapter 12, Adjustment of Debts of a Family Farmer with Regular Annual Income. Prescribes guidelines for insolvent health care businesses and related patients' rights. Mandates appointments and extensions for certain additional temporary bankruptcy judgeships. Prescribes additional consumer credit disclosures.
United States · United States Congress · 31 January 2001
Directs the Comptroller General to: (1) conduct a fraud audit of selected accounts at the Department of Education that the Comptroller General determines to be particularly susceptible to waste, fraud, and abuse; and (2) report audit results to specified congressional committees.
United States · United States Congress · 31 January 2001
Family Heritage Preservation Act - Amends the Internal Revenue Code to repeal the estate tax, gift tax, and tax on generation-skipping transfers.
United States · United States Congress · 31 January 2001
States that Congress, on behalf of the American people, extends its birthday greetings and best wishes to Ronald Reagan on his 90th birthday.
United States · United States Congress · 30 January 2001
Family Values Tax Relief Act of 2001 - Amends the Internal Revenue Code to repeal the: (1) overall limitation on itemized deductions; (2) phaseout of personal exemptions; and (3) adjusted gross income limitation on the child tax credit; and (4) alternative minimum tax on individuals.
United States · United States Congress · 6 January 2001
Amends the Internal Revenue Code to repeal Subchapter B (Communications) of Chapter 33 (Facilities and Services) of Subtitle D (Miscellaneous Excise Taxes).
United States · United States Congress · 3 January 2001
Notification and Federal Employee Antidiscrimination and Retaliation Act of 2001 - Requires the amount of any claim, final judgment, award, or compromise settlement paid to any current or former Federal employee or applicant in connection with specified anti-discrimination and whistle blower protection proceedings to be reimbursed to the fund established for such payments out of the operating expenses of the agency to which the discriminatory conduct is attributable.
United States · United States Congress · 3 January 2001
Surviving Spouse Fairness Act of 2000 - Amends the Internal Revenue Code to provide a $500,000 exclusion of gain on certain sales of a principal residence by a surviving spouse.
United States · United States Congress · 3 January 2001
Amends the Internal Revenue Code to exclude, subject to a $3,000 maximum exclusion (double for a joint return), from gross income a capital gain dividend which is: (1) distributed by a regulated investment company; and (2) automatically reinvested by the company in the stock of such company with respect to which the dividend is distributed.
United States · United States Congress · 3 January 2001
Social Security Benefits Tax Relief Act of 2001 - Amends the Internal Revenue Code to repeal the 85 percent (second tier) taxation of Social Security and Railroad Retirement benefits. Appropriates, from the general fund, to the Hospital Insurance Trust Fund amounts equal to the reduction in revenue lost because of the repeal. Requires an annual report concerning the funds transferred from the general fund to the Trust Fund.
United States · United States Congress · 3 January 2001
Amends the Internal Revenue Code to make permanent the credit for increasing research activities. Increases the alternative incremental credit rates.
United States · United States Congress · 3 January 2001
IRA Fairness Act of 2001 - Amends the Internal Revenue Code to increase the annual limitation on deductible individual retirement account contributions to $5000.
United States · United States Congress · 3 January 2001
Capital Gains Tax Reduction Act of 2001 - Amends the Internal Revenue Code to reduce the maximum capital gains tax rates for both individuals and corporations. Provides for the indexing of assets for determining gain or loss.
United States · United States Congress · 3 January 2001
Provides for the attendance of the House of Representatives at the inaugural ceremonies of the President and Vice President on January 20, 2001, and, upon conclusion of the ceremonies, for the adjournment of the House until January 30, 2001.
United States · United States Congress · 3 January 2001
Instructs the Clerk of the House of Representatives to inform the President that J. Dennis Hastert has been elected Speaker of the House and that Jeffrey J. Trandahl has been elected Clerk.
United States · United States Congress · 3 January 2001
Fixes the daily hour of meeting for the House of Representatives for the first session of the 107th Congress.
United States · United States Congress · 3 January 2001
Notifies the Senate that a quorum of the House of Representatives has assembled and that J. Dennis Hastert has been elected as Speaker of the House and that Jeffrey J. Trandahl has been elected as Clerk.
United States · United States Congress · 3 January 2001
Adopts the rules of the House of Representatives of the 106th Congress as the rules of the House of the 107th Congress, with specified amendments.
United States · United States Congress · 3 January 2001
Provides for appointment of a House of Representatives committee joined with a Senate committee to notify the President that a quorum of each House has assembled.
United States · United States Congress · 3 January 2001
Provides for an adjournment of the House of Representatives from January 6, 2001, until January 20, 2001, and from January 20, 2001, until January 30, 2001, and for a recess or adjournment of the Senate from January 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, or 19, 2001, until January 20, 2001.
United States · United States Congress · 15 December 2000
Expresses the commitment of the Members of the House of Representatives to fostering a productive and collegial partnership with the 43rd President in order to bring comity to the Government and progress to the United States.
United States · United States Congress · 14 December 2000
Community Renewal Tax Relief Act of 2000 - Title I: Community Renewal and New Markets - Subtitle A: Tax Incentives for Renewal Communities - Authorizes the Secretary of Housing and Urban Development to designate (upon local or State nomination) up to 40 renewal communities, of which at least 12 shall be in rural areas. Requires for nomination purposes that: (1) the area be experiencing high rates of poverty and unemployment and general distress; and (2) State and local governments enter into written contracts with community organizations to promote specified economic growth and employment activities. Excludes from gross income capital gains on the sale or exchange of a qualified community asset (stock, business property, or partnership interest) held for more than five years. Allows: (1) a renewal community employment credit; (2) a commercial revitalization deduction; (3) increased expensing for renewal community business assets; and (4) the work opportunity credit for hiring youth residing in renewal communities. Subtitle B: Extension and Expansion of Empowerment Zone Incentives - Provides for the designation of additional empowerment zones and increased empowerment zone tax incentives. Subtitle C: New Markets Tax Credit - Establishes a new markets tax credit with respect to specified qualified low-income community investments. Sets a national new markets tax credit limitation. Subtitle D: Improvements in Low-Income Housing Credit - Amends the Code, with respect to the low-income housing credit, to revise the formula for the State housing credit ceiling. Provides for cost-of-living adjustments to the State ceiling. (Sec. 132) Revises the housing priority selection criteria a housing credit agency must use to develop a qualified plan for allocating housing credit dollar amounts among projects. Requires such criteria to include: (1) whether the project would use existing housing as part of a community revitalization plan; (2) tenant populations of individuals with children; and (3) projects intended for eventual tenant ownership. Drops from such criteria participation of local tax-exempt organizations. Requires a qualified allocation plan to give preference in making allocations to projects located in qualified census tracts whose development contributes to a concerted community revitalization plan. (Sec. 133) Requires housing credit agencies to: (1) provide for a comprehensive market study (by a disinterested party, at the developer's expense) of the housing needs of low-income individuals in the area to be served by the project before the credit allocation is made; and (2) make public a written explanation for any allocation of a housing credit dollar amount not made in accordance with the agency's established priorities and selection criteria. (Sec. 134) Revises special rules for the determination of the adjusted basis of buildings eligible for the low-income housing credit. Requires adjusted basis to include property used throughout the taxable year in providing any community service facility designed to serve primarily individuals (even if they are not tenants) whose income is 60 percent or less of area median income. Declares that assistance under the Native American Housing Assistance and Self-Determination Act of 1996 shall be disregarded in determining whether a building is federally subsidized for purposes of the low-income housing credit. (Sec. 135) Revises the definition of a qualified building (placed in service not later than the second calendar year following a housing credit dollar amount allocation) with respect to which the amount of a low-income housing credit may exceed the credit amount allocated to the building. Sets an alternative date for valuation of the taxpayer's actual basis in the project of which the building is a part (where the actual basis is more than ten percent of the taxpayer's reasonably expected basis). Allows the valuation of the actual basis to be as of the later of the date which is six months after the date that the allocation was made or (as currently) the close of the calendar year in which the allocation is made. Revises the formula for determination of the amount of State housing credit ceiling returned in a calendar year to include the dollar amount previously allocated to a project which fails to meet the ten percent test on a date after the close of the calendar year in which the allocation was made. Revises special rules for the increased basis of a building located in certain high cost areas to redefine a qualified census tract to include, as an alternative to existing criteria, a tract with a poverty rate of at least 25 percent. (Sec. 136) Revises the formula for determining unused housing credit carryovers allocated among certain States. Subtitle E: Other Community Renewal and New Markets Assistance - Part I: Provisions Relating to Housing and Substance Abuse Prevention and Treatment - Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 to direct the Secretary to transfer ownership of qualified HUD-held properties (substandard or unoccupied multifamily or unoccupied single family properties) to local governments and community development corporations under specified conditions. Requires such properties to be held by HUD for at least six months. (Sec. 142) Directs the Secretary, upon request of the appropriate jurisdiction, to designate as a revitalization area all portions of such jurisdiction meeting the necessary criteria. (Sec. 143) Revises the current demonstration mortgage reinsurance program to: (1) make such program a risk-sharing program served by private mortgage insurers and insured community development financial institutions (as defined by this Act); (2) enlarge the program to four administrative areas; and (3) require such entities to assume a secondary percentage of loss of an insured mortgage. (Sec. 144) Permits a religious organization to receive Federal funding through the Substance Abuse and Mental Health Services Administration. Prohibits funding discrimination against such an organization so long as its program is implemented in a manner consistent with the Establishment Clause of the first amendment to the Constitution. Part II: Advisory Council on Community Renewal - Advisory Council on Community Renewal Act - Establishes the Advisory Council on Community Renewal Act to advise the Secretary of Housing and Urban Development on the designation of renewal communities and on the exercise of authorities granted to the Secretary pursuant to this title. Subtitle F: Other Provisions - Provides for an accelerated phase-in of specified increases in the volume cap on private activity bonds. (Sec. 162) Repeals the targeted area limitation on the expense deduction for environmental remediation costs and to extend the termination date of such deduction from December 31, 2001, to June 30, 2003. (Sec. 163) Extends the DC homebuyer tax credit for two additional years. (Sec. 164) Extends DC Enterprise Zone provisions for an additional year. (Sec. 165) Expands and extends the enhanced deduction for corporate donations of computer technology. (Sec. 166) Provides for the treatment of Indian tribal governments under Federal Unemployment Tax Act. Title II: Two-Year Extension of Availability of Medical Savings Accounts - Extends, for two years the availability of medical savings accounts. Renames such accounts Archer MSAs. Title III: Administrative and Technical Provisions - Subtitle A: Administrative Provisions - Sets forth various administrative provisions, including provisions concerning: (1) the exemption of certain reporting requirements; (2) the extension of deadlines for IRS compliance with certain notice requirements; (3) the extension of authority for undercover operations; (4) confidentiality of certain documents relating to closing and similar agreements and to agreements with foreign governments; (5) an increase in the threshold for Joint Committee reports on refunds and credits; (6) the treatment of missing children with respect to certain tax benefits; (7) the prevention of the duplication of loss through the assumption of liabilities giving rise to a deduction; and (8) the disclosure of certain return information to the Congressional Budget Office, but only concerning long-term social security and medicare models. Subtitle B: Technical Corrections - Makes amendments to the: (1) Ticket to Work and Work Incentives Improvement Act of 1999; (2) Tax and Trade Relief Extension Act of 1998; (3) Internal Revenue Service Restructuring and Reform Act of 1998; (4) Taxpayer Relief Act of 1997; (5) Balanced Budget Act of 1997; (6) Small Business Job Protection Act of 1996; and (7) Revenue Reconciliation Act of 1990. Title IV: Tax Treatment of Securities Futures Contracts - States that, in general, a gain or loss attributable to the sale or exchange of a futures contract shall be considered gain or loss from the sale or exchange of property which has the same character as the property to which the contract relates has in the hands of the taxpayer if acquired by the taxpayer.
United States · United States Congress · 14 November 2000
Provides for conditional adjournment of the House and a conditional recess or adjournment of the Senate from November 14 or 15, 2000, until December 4, 2000.
United States · United States Congress · 26 October 2000
Patients' Declaration of Independence Act of 2000 - Provides, in the case of a group health plan that is a freedom-of-choice plan with respect to a participant or beneficiary, that: (1) an employer maintaining the plan shall not be liable pursuant to any cause of action relating to the provision of (or failure to provide, or manner of provision of) benefits under any health insurance coverage that may be secured by such participant or beneficiary in connection with the plan; and (2) there shall be no right of recovery, indemnity, or contribution by a person against such an employer (or an employee of such an employer acting within the scope of employment) for damages assessed against the person pursuant to any such cause of action. Provides that, for certain purposes under the Employee Retirement Income Security Act of 1974 (ERISA), any such employer (and any such employee) shall not be considered a fiduciary of the plan. Defines a freedom-of-choice group health plan as one which: (1) provides benefits on behalf of the participant or beneficiary only in the form of a contribution towards the cost of health insurance coverage that meets the applicable requirements of law; (2) does not impose any restriction with respect to such coverage, including the benefits available under such coverage, the health insurance issuer that offers such coverage, and the selection of such coverage; and (3) provides that the participant (and not the employer or plan) is the owner of the health insurance coverage. Requires such a contribution to be treated as employer-provided coverage under a health plan, for purposes of the Internal Revenue Code.