Rep. McGrath, Raymond J. [R-NY-5]

An amendment to transfer to the Federal Emergency Management Agency (FEMA) from Secretary of Defense the authorization to grant the public safety officer award to an outstanding civilian defense officer.

United States · United States Congress

Tax Fairness Restoration and Economic Growth Act

United States · United States Congress · 6 October 1992

Tax Fairness Restoration and Economic Growth Act - Title I: Tax Reductions - Subtitle A: Capital Gains Provisions - Amends the Internal Revenue Code to exclude capital gain from gross income and exempt capital gain from tax. Makes such exemption applicable to computing the alternative minimum tax. Subtitle B: Restoration of Income Averaging - Sets forth provisions to restore income averaging. Subtitle C: Elimination of Double Tax on Dividends - Allows a shareholder credit (for taxpayers other than corporations) for dividends from domestic corporations. Provides for determining such credit based on the corporation's post-1992 Federal income taxes and post-1992 undistributed earnings. Includes such credit in the determination of gross income. Allows corporations a 100 percent deduction for amounts received as dividends from domestic corporations. Revises computations on dividends received by corporations on the preferred stock of a public utility. Subtitle D: Permanent Extension of Research Credit - Makes permanent law the credit for increasing research activities. Subtitle E: Reduction of Individual Tax Rate - Reduces individual income tax rates by eliminating the highest tax bracket. Subtitle F: Retirement Savings Incentives - Part I Restoration of IRA Deduction - Amends the Internal Revenue Code to remove the limitations on deductions for individual retirement plans and provides a cost-of-living adjustment for deductible amounts. Part II: Nondeductible Tax-Free IRAs - Establishes special individual retirement accounts that are nondeductible. Makes such accounts nontaxable if earnings on contributions are held for at least five years. Applies the early withdrawal penalty to distributions made before the end of the five year-period. Part III: Penalty-Free Distributions - Provides exemptions from the ten-percent penalty on early withdrawals from individual retirement plans for: (1) first home purchases; (2) higher education expenses; and (3) financially devastating medical expenses. Subtitle G: Repeal of Excise Penalty Taxes on Autos - Repeals the excise tax on luxury items (passenger vehicles, boats, aircraft, jewelry, and furs). Subtitle H: Repeal of Limitation On Itemized Deductions - Repeals the overall limitation on itemized deductions. Subtitle I: Repeal of Passive Loss Limitations - Repeals passive loss limitations. Subtitle J: Restoration of 10-Percent Investment Credit - Restores the ten percent investment tax credit for property placed in service after enactment of this Act. Subtitle K: Restoration of Accelerated Cost Recovery System - Restores the accelerated cost recovery system as in effect on the day after the enactment of the Economic Recovery Tax Act of 1981. Subtitle L: Credit for First-Time Homebuyer - Allows a credit for a first-time homebuyer of ten percent of the price of the principal residence. Limits such credit to $2,500. Requires the residence to be acquired on or after February 1, 1992, and before January 1, 1993. Title II: Taxpayer Bill of Rights - Subtitle A: Additional Safeguards to Protect Taxpayers' Rights - Part I: Taxpayers' Advocate - Amends the Internal Revenue Code to establish in the Internal Revenue Service (IRS) the Office of Taxpayers' Advocate, headed by the Taxpayers' Advocate, appointed by the President, by and with the advice and consent of the Senate. Requires the Office to: (1) assist taxpayers in resolving problems with the IRS; (2) identify areas in which taxpayers have problems in dealings with the IRS; (3) propose changes in the administrative practices of the IRS to mitigate such problems; and (4) identify potential legislative changes which may be appropriate to mitigate such problems. Requires the Taxpayers' Advocate to annually report to specified congressional committees on Office activities. Requires the Commissioner of Internal Revenue to establish procedures requiring a formal response to all recommendations submitted to the Commissioner by the Taxpayers' Advocate. Authorizes the terms of a Taxpayer Assistance Order to require the Secretary of the Treasury to take certain actions (currently, only to cease or refrain from taking such actions). Part II: Modifications to Installment Agreement Provisions - Requires prior notification to taxpayers under an installment agreement to pay tax liability before altering, modifying, or terminating such an agreement. Provides for administrative review of denials of requests for installment agreements. Suspends the failure to pay penalty during any period an installment agreement is in effect. Part III: Interest - Extends from ten days to 21 days the period for which interest will not be imposed after notice and demand for payment, if such payment is less than $100,000. Provides for the abatement of interest in the case of an assessment due to the error or delay of an IRS managerial act. Increases the interest rate for overpayment of tax from two percent to three percent (making such rate equal to the interest rate for underpayment of tax). Waives interest on all overpayments refunded within 45 days after a return is filed. Part IV: Joint Returns - Requires separate deficiency notices in the case of a joint income tax return if the most recent data available to the IRS shows that such spouses did not file a joint return with each other. Allows the disclosure of collection activities to an individual requesting such information in the case of a joint return where such individual is no longer married to or resides in the same household as the other joint filer. Removes limitations on filing a joint return after filing separate returns. Part V: Collection Activities - Authorizes the Secretary, if it is determined to be in the best interest of the taxpayer and the United States, to: (1) withdraw a notice of a lien; (2) return property that has been levied upon; and (3) offer compromises in civil or criminal cases. Requires the Secretary, at the request of the taxpayer, to make reasonable efforts to notify credit reporting agencies and financial institutions of such withdrawal notice. Part VI: Erroneous and Fraudulent Information Returns - Requires payee statements to provide the phone number of the person providing payment. Establishes civil damages for the fraudulent filing of information returns. Requires the Secretary to take reasonable steps to corroborate the accuracy of an information return when making a determination of a deficiency by a third party, when such return is disputed by the taxpayer. Part VII: Modifications to Penalty for Failure to Collect and Pay Over Tax - Declares that a person shall not be liable for any penalty for failure to collect and pay over tax if such person: (1) is not a significant owner, or highly compensated employee of the trade or business; (2) notifies the Secretary within ten days after such failure; and (3) such notification was before any notice by the Secretary with respect to such failure. Requires the Secretary to disclose certain information where more than one person is liable for a penalty. Part VIII: Awarding of Costs and Certain Fees - Repeals the "substantially justified" test for determining whether a taxpayer may recover costs and fees incurred as part of an administrative or court proceeding. Provides for the awarding of reasonable litigation or administrative costs to a prevailing party who represents himself in an administrative or court proceeding. Makes IRS employees personally liable in certain cases. Provides that any failure to agree to an extension of time for the assessment of any tax shall not be taken into account in determining whether a prevailing party has exhausted all administrative remedies. Part IX: Other Provisions - Revises provisions on the required content of tax due, deficiency, and other notices. Provides for the treatment of returns prepared for or executed by the Secretary for purposes of certain tax penalties. Provides protection for taxpayers who rely on certain guidance published by the IRS. Subtitle B: Form Modifications - Directs the Secretary to: (1) ensure that taxpayers are aware of permission to pay tax in installments, extensions of time for payment of tax, and compromises of tax liability; (2) improve procedures for taxpayers to notify the Secretary of changes in names and addresses; (3) include in a specified publication a section on the rights and responsibilities of divorced individuals; (4) ensure that employees are aware of their responsibilities under the Federal tax system and that the public is aware of penalties for failure to collect and pay over tax; and (5) notify taxpayers of any payments that cannot be associated with any outstanding tax liability. Subtitle C: Additional Improvements - Requires the Secretary to report to the tax-writing committees on: (1) a pilot program for appeals of certain enforcement actions (including lien, levy, and seizure actions); (2) a study on ways to assist the elderly, physically impaired, foreign-language speaking, and other taxpayers with special needs to comply with IRS laws; (3) the scope and content of the IRS taxpayer-rights education program for its officers and employees; and (4) cases involving complaints about misconduct of IRS employees and the disposition of such complaints. Requires the Comptroller General to report to the tax-writing committees on: (1) a study of notices of deficiency; (2) the accuracy and clarity of 25 of the most commonly used IRS forms, notices, and publications; and (3) a study of IRS employee-suggestion programs.

Designating October 4, 1992, through October 10, 1992, as "National Bone Marrow Donor Awareness Week".

United States · United States Congress · 16 September 1992

Designates October 4 through 10, 1992, as National Bone Marrow Donor Awareness Week.

Designating the week beginning October 18, 1992, as "National Radon Action Week".

United States · United States Congress · 15 September 1992

Designates the week beginning October 18, 1992, as National Radon Action Week.

To amend title I of the Omnibus Crime Control and Safe Streets Act of 1968 to ensure an equitable and timely distribution of benefits to public safety officers.

United States · United States Congress · 12 August 1992

Amends the Omnibus Crime Control and Safe Streets Act of 1968 to direct the Bureau of Justice Assistance to pay the same benefit to public safety officers for permanent and total disability as that payable for death benefits (i.e., $100,000; currently, the Bureau is directed to pay up to that amount, to the extent appropriations are provided, subject to specified limitations). Makes this Act applicable with respect to injuries occurring on or after November 29, 1990.

Designating the week beginning November 8, 1992, as "Hire a Veteran Week".

United States · United States Congress · 12 August 1992

Designates the week beginning November 8, 1992, as Hire a Veteran Week.

Designating February 4, 1993, and February 3, 1994, as "National Women and Girls in Sports Day".

United States · United States Congress · 12 August 1992

Designates February 4, 1993, and February 3, 1994, as National Women and Girls in Sports Day.

Designating May 2, 1993, through May 8, 1993, as "National Walking Week".

United States · United States Congress · 12 August 1992

Designates May 2 through 8, 1993, as National Walking Week.

Designating November 30, 1992, through December 6, 1992, as "National Education First Week".

United States · United States Congress · 12 August 1992

Designates November 30 through December 6, 1992, as National Education First Week.

Expressing the sense of the Congress that a United States guided missile cruiser should be named the "USS Pearl Harbor".

United States · United States Congress · 6 August 1992

Expresses the sense of the Congress that a U.S. guided missile cruiser should be named the USS Pearl Harbor.

Designating October 1992 as "Polish-American Heritage Month".

United States · United States Congress · 30 July 1992

Designates October 1992 as Polish-American Heritage Month.

To amend the Tariff Act of 1930 to prevent the circumvention or diversion of antidumping and countervailing duty orders.

United States · United States Congress · 28 July 1992

Amends the Tariff Act of 1930 to require the administering authority to consider, in addition to those factors already required, when determining whether imported parts or components of merchandise completed or assembled in the United States or a foreign country are circumventing an antidumping or countervailing duty order, the value and sources of supply of parts or components historically used in the assembly of the merchandise subject to such order. Authorizes the administering authority to include within the scope of an antidumping or countervailing duty order imported parts or components that constitute certain merchandise sold in the United States and subject to such order, provided: (1) it is completed or assembled in the United States or a foreign country from parts or components supplied by the exporter or producer, from suppliers that have historically supplied such parts or components to such exporter or producer, or from any party in the exporting country supplying such items on behalf of such exporter or producer; (2) the value of the imported parts or components is significant in relation to the total value of all parts and components used in the assembly or completion operation, excluding packing; (3) consideration of specified factors establishes a pattern of circumvention of an antidumping or countervailing duty order; or (4) the administering authority determines that action is appropriate to prevent circumvention of such order. Enables the administering authority to base such a decision on any of such factors by itself, rather than on all of them together. Requires the administering authority, upon request made within one year of such effective date, to review prior negative determinations under the applicable new standards contained in this Act. Requires the administering authority to include such parts or components within the scope of an order if application of the new standards to the record compiled in the prior determination would have resulted in an affirmative determination.

To amend the Internal Revenue Code of 1986 to provide that the conducting of certain games of chance shall not be treated as an unrelated trade or business, and for other purposes.

United States · United States Congress · 22 July 1992

Amends the Internal Revenue Code to exclude from the tax on unrelated trade or business income the conducting of qualified games of chance by certain tax-exempt organizations. Describes such games as any game: (1) that does not violate State or local law; (2) that the conduct of which by for-profit organizations would violate such law; and (3) where no substantial part of the work is performed by individuals principally engaged to perform gaming services for hire. Increases the excise on State authorized wagers.

To amend the Internal Revenue Code of 1986 with respect to the treatment of certain nonprofit organizations providing health benefits, and for other purposes.

United States · United States Congress · 22 July 1992

Amends the Internal Revenue Code to provide that the special deduction and rules extended to certain existing Blue Cross or Blue Shield organizations shall be extended to an organization that is not a health maintenance organization and is organized under and governed by State laws which are specifically and exclusively applicable to not-for-profit health insurance or health service type organizations. Provides that the limitation on deductions for certain dividends paid on employer securities held in an employee stock ownership plan does not apply to employer securities acquired with assets transferred from a defined benefit plan through an employer reversion transaction. Declares that the characterization (at the time of issuance) of a corporate interest as stock or debt by the corporate issuer is binding on the issuer and on all holders (but not binding on the Secretary of the Treasury). Requires holders who treat such interest in an inconsistent manner to disclose such inconsistent treatment on the first tax return for the first year during which such instrument was held.

To designate May of each year as "Asian/Pacific American Heritage Month".

United States · United States Congress · 8 July 1992

Designates May of each year as Asian/Pacific American Heritage Month.

Information Services Fair Competition Act of 1992

United States · United States Congress · 2 July 1992

Information Services Fair Competition Act of 1992 - Amends the Communication Act of 1934 to make it unlawful for any common carrier or its affiliate engaged in the provision of information services to include in its charges for telephone exchange service any operating expenses, costs, depreciation charges, or other expenses determined by the Federal Communications Commission (FCC) to be properly associated with the provision of information services by such carrier or affiliate. Directs the FCC to adopt regulations to ensure that these provisions are not evaded by carriers subject to this Act. Directs a common carrier or its affiliate engaged in the provision of information services to meet requirements such as: (1) book maintenance in a specified manner; (2) interconnection to its network that is equal in price, quality, and type to the interconnection that the carrier provides to itself or to its affiliate; (3) information concerning the network interface specifications that allows such information service provider to connect to that carrier's network; (4) public disclosure of the specifications for any new or changed type of network interface for information services that the carrier or its affiliate provides or may provide; and (5) response, on a nondiscriminatory basis, to a bona fide request for a new type of basic service necessary to support an information service within 120 days after receipt of such request, and offer such service on an unbundled basis if it is technically feasible and if the marketing and economic demand forecast support such offering. Authorizes the FCC, upon application of a carrier which shows that it is technically unable to meet one or more of the requirements mentioned above, to grant a waiver to such carrier only if the public interest would be served thereby. Requires the FCC to adopt regulations that specify the form and manner in which the network disclosure information shall be made by common carriers. Requires common carriers, subject to this Act, to comply with any relevant regulations already in effect until such regulations are adopted and published in the Federal Register. Prescribes guidelines for the release of network disclosure information. Makes it unlawful for a common carrier or its affiliate to use, in connection with the provision of such carrier's information services, customer proprietary network information that the carrier has collected in the course of providing telephone exchange service unavailable to unaffiliated providers of information services unless prior consent of the customer has been obtained or in cases where the FCC has determined that the use of disclosure of such information serves the public interest. Prohibits: (1) any common carrier or affiliate from engaging in the provision of a burglar alarm service until ten years after the enactment of this Act unless such service was provided to a customer by the carrier or affiliate on July 1, 1992; and (2) a Federal agency or State from regulating the rates, terms, or conditions for the provision of information services. Authorizes the FCC to impose any remedy, without limitation, to ensure that the costs of providing information services are not borne by subscribers to telephone exchange service.

To amend title 38, United States Code, to provide that future increases in the monthly amount paid by the State of New York to blind disabled veterans shall be excluded from the determination of annual income for purposes of the payment of pension by the Secretary of Veterans Affairs.

United States · United States Congress · 2 July 1992

Excludes from the determination of income, for purposes of the payment of pension by the Secretary of Veterans Affairs, any future increases made by the State of New York in the monthly amount paid to blind and totally disabled veterans.

Designating October 8, 1992, as "National Firefighters Day".

United States · United States Congress · 2 July 1992

Designates October 8, 1992, as National Firefighters Day.

World University Games Commemorative Coin Act

United States · United States Congress · 24 June 1992

World University Games Commemorative Coin Act - Authorizes the minting and issuance of five dollar gold coins and one dollar silver coins (at no net cost to the Government) to commemorate American participation in the World University Games. Requires that all surcharges from the sale of such coins be paid to the Greater Buffalo Athletic Corporation to support amateur athletic programs, erect facilities for the use of such athletes, and to underwrite the cost of sponsoring the World University Games.

Open Space Preservation Act of 1992

United States · United States Congress · 23 June 1992

Open Space Preservation Act of 1992 - Amends the Internal Revenue Code to exclude from the gross estate tax the value of land subject to a qualified conservation easement (less the amount of any indebtedness secured by such land). Includes in the gross estate tax the value of each development right retained by the donor in the conveyance of the easement. Makes such tax due upon the disposition of the property. Provides that such land subject to the exclusion will have a carryover basis for purposes of determining gain or loss. Excludes from the gift tax transfers by gift of land subject to a conservation easement (other than development rights retained by the donor of such easement). Defers the reduction in certain estate tax rates after 1993 and before 1998.

To amend the Internal Revenue Code of 1986 to repeal the special depreciation rules applicable under the adjusted current earnings provisions of the minimum tax.

United States · United States Congress · 18 June 1992

Amends the Internal Revenue Code to repeal the special depreciation rules applicable under the adjusted current earnings provisions of the minimum tax. Requires the depreciation deduction with respect to any property for any taxable year beginning after December 31, 1991, to be the same as the depreciation deduction allowable in computing alternative minimum taxable income for such taxable year.

To require the construction of a memorial on Federal land in the District of Columbia or its environs to honor members of the Armed Forces who served in World War II and to commemorate United States participation in that conflict.

United States · United States Congress · 18 June 1992

Directs the National World War II Memorial Fund, Inc., to construct a memorial on Federal land in the District of Columbia or its environs to: (1) honor members of the armed forces who served in World War II; and (2) commemorate U.S. participation in that conflict. Directs the fund to plan, design, and oversee the construction of the Memorial. Establishes the World War II Memorial Advisory Board to: (1) promote and encourage the donation of private funds for the construction of the Memorial; and (2) recommend the site for and assist in the selection of the design of the Memorial. Terminates the Board within 30 days after completion of the Memorial or on the lapse of the authority provided by this Act. Authorizes the Fund to solicit and accept private contributions for construction of the Memorial. States that the requirements and authority of this Act shall lapse if: (1) construction of the Memorial is not commenced within seven years of its enactment; or (2) before such construction, the Secretary of the Interior certifies that funds are not available in an amount sufficient to ensure its completion.

Acknowledging the sacrifices that military families have made on behalf of the Nation and designating November 23, 1992, as "National Military Families Recognition Day".

United States · United States Congress · 9 June 1992

Declares that the Congress acknowledges and appreciates the commitment, devotion, and sacrifices of present and former military families. Designates November 23, 1992, as National Military Families Recognition Day.

National Cancer Institute Amendments of 1992

United States · United States Congress · 5 June 1992

National Cancer Institute Amendments of 1992 - Amends the Public Health Service Act to require expansion, intensification, and coordination of research conducted or supported by the National Cancer Institute on: (1) breast cancer, ovarian cancer, and other cancers of the reproductive system of women, including operating at least six research and demonstration centers on breast cancer; and (2) prostate cancer, including operating at least six research and demonstration centers on prostate cancer. Authorizes appropriations to carry out provisions relating to the Institute, including the provisions enacted by this Act. Removes provisions authorizing appropriations for the National Heart, Lung, and Blood Institute. Mandates a study to determine the factors contributing to the elevated breast cancer rates in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont, and the District of Columbia. Authorizes appropriations.