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501 records in US in 1978
United States · United States Congress · 14 April 1978
Sets forth the congressional budget for the United States Government for fiscal year 1979.
United States · United States Congress · 13 April 1978
Amends the Internal Revenue Code to allow an individual to deduct from gross income the cost, not in excess of $50,000 of acquiring stock in a qualified energy invention corporation, which had income preceding the year of stock issuance not more than $100,000, and which owns a patent relating to the invention of an energy saving device or process.
United States · United States Congress · 13 April 1978
Declares that certain proposed regulations of the Department of the Treasury regarding centralized firearms sales recordkeeping and other firearms control measures exceed the Department's authority, and directs that the regulations be withdrawn.
United States · United States Congress · 13 April 1978
Amends the Internal Revenue Code to allow individuals an income tax credit for expenses incurred for government-required tree removal designed to prevent the spread of pest disease.
United States · United States Congress · 13 April 1978
Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.
United States · United States Congress · 13 April 1978
Amends the Internal Revenue Code to exempt from taxation certain contributions to profit sharing plans by employers which would otherwise be taxable to the employee merely because a plan includes an arrangement under which the contribution is made only if the employee elects not to receive such contribution in cash.
United States · United States Congress · 13 April 1978
Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.
United States · United States Congress · 13 April 1978
Declares that certain proposed regulations of the Department of the Treasury regarding centralized firearms sales recordkeeping and other firearms control measures exceed the Departments' authority, and directs that the regulations be withdrawn.
United States · United States Congress · 12 April 1978
Tuition Tax Credit Act - Amends the Internal Revenue Code to allow individuals an income tax credit for 25 percent of the tuition paid for the postsecondary, nongraduate education of the taxpayer, his spouse and his dependents. Allows up to $100 to be credited per student for 1978, $150 for 1979 and $250 for 1980, after which the credit expires. Forbids any construction of this Act as granting the government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether it is a postsecondary educational institution. Provides that educational institutions enrolling students for whom this credit is claimed shall not thereby be considered recipients of Federal assistance. Provides for the immediate certification of any judicial action brought in a United States district court concerning the constitutionality of this Act to the appropriate circuit court of appeals. Authorizes direct appeal to the Supreme Court of any decision by a circuit court. Directs the expedited consideration of such a case at both judicial levels. Disallows any consideration of this credit when determining an individual's eligibility for Federally funded government educational assistance benefits.
United States · United States Congress · 12 April 1978
Amends the Internal Revenue Code to provide that an individual's allowable charitable contributions shall be deducted when determining the individual's adjusted gross income, thereby allowing the deduction to individuals who do not itemize.
United States · United States Congress · 12 April 1978
Revenue Act - Title I: Short Title, Etc. - Sets forth the short title of this Act and the table of contents, and provides that amendments made by this Act shall apply to taxable years beginning after December 31, 1978. Title II: Tax Treatment of Individuals - Amends the Internal Revenue Code to reduce income taxes for individuals and estates and trusts in 1978. Reduces marginal tax rates for such individuals and estates and trusts to a range of 12 to 68 percent in 1979 and succeeding years. Eliminates deductions for personal exemptions. Establishes a $240 personal tax credit for a taxpayer, spouse and dependents, and additional credits if the taxpayer or spouse is blind or has attained age 65. Revises requirements for the withholding of income tax to reflect the substitution of the personal tax credit for personal exemptions. Increases the miniumum income levels of individuals who are required to file tax returns. Defines the concept of a uniform tax base and establishes the order of credits deductible from such tax base. Permits a deduction for combined medical expenses and casualty losses to the extent that they exceed ten percent of a taxpayer's adjusted gross income. Disallows deductions for State and local personal property taxes, sales taxes, and gasoline taxes. Eliminates deductions for contributions to candidates for public office and to political newsletter funds. Repeals preferential tax treatment of the capital gains of noncorporate taxpayers. Requires real estate depreciation deductions on buildings or replacement building components acquired after 1979 to be computed according to the straight line method. Permits the use of alternate methods of computing depreciation for (1) low income new housing (2) multi-family residential rental property acquired before 1983; (3) low-income housing, the original use of which does not commence with the taxpayer and which is acquired before 1983; and (4) rehabilitated historic structures. Disallows deducteds in excess of $10,000 from preference income of individuals for purposes of determining minimum tax liability. Exempts capital gain on the sale of a personal residence from the minimum tax. Extends to closely held corporations and personal holding companies the rule which limits deductions for business losses to amounts which such enterprises actually had at risk. Extends the range of activities subject to the "at risk" rule to all activities engaged in for the production of income, except those relating to real estate. Treats an unincorporated organization (other than an estate or trust) as a corporation if it has more than 15 limited liability members. Specifies those members of an unincorporated organization that count, and do not count, as limited liability members. Exempts organizations formed before 1979 and certain housing organizations from such treatment. Authorizes the Internal Revenue Service to carry out tax audits of partnerships and establishes procedures for notifying a partnership of the commencement of administrative proceedings for the review of partnership returns and tax liability. Requires the Secretary of the Treasury to make a final administrative determination within three years of the filing of the tax return, or within six years if the return contains a false statement or substantial omission. Permits an authorized representative of a partnership to request an administrative adjustment of partnership tax liability. Sets forth rules for judicial review of final administrative determinations in the tax court and the United States district courts or Court of Claims and rules governing a request for an administrative adjustment of partnership tax liability. Prescribes fines for the failure of the partnership to file a timely tax return. Requires the owner of a nonqualified deferred annuity to include in his gross income the yearly earnings of such annuity in the year they are earned. Allows an exemption from this requirement for a single nonqualified deferred annuity contract which is designated by the taxpayer and which does not permit yearly premium payments in excess of $1,000. Requires qualified retirement plans which are integrated with social security coverage to include workers whose wages fall below the social security wage base. Specifies that one percent in contributions or benefits will be required under a qualified plan on compensation below the social security wage base for every 1.8 percent in such contributions or benefits provided under a plan for compensation above the wage base. Prohibits tax exclusions for the first $50,000 of employer paid group life insurance premiums or for benefits received under health, accident, and disability plans established by an employer for officers, shareholders, or highly compensated employee of a corporation unless such benefits are received under a qualified employee welfare plan, a qualified retirement plan, or a plan established pursuant to a valid collective bargaining agreement. Eliminates the $5,000 tax exclusion for death benefits paid to the estate or beneficiary of a deceased employee by an employer. Requires the inclusion of unemployment compensation received by taxpayers whose income exceeds $20,000 ($25,000 for married taxpayers filing jointly). Specifies that 50 cents of such compensation will be included in gross income for each dollar which the taxpayer earns in excess of $20,000 (25,000 if married and filing jointly). Disallows deductions for entertainment, amusement, or recreation expenses directly related to, or associated with, the active conduct of a taxpayer's trade or business. Permits partial deductions for business meals and facilities for providing such meals. Permits deductions for meals furnished by an employer to an employee. Disallows deductions for first class air fare as a traveling expense to the extent that such fare exceeds coach fare for the same flight. Permits deductions for business-related expenses in attending a foreign convention if the Secretary determines that it is reasonable to hold the convention outside the United States. Title III: Tax Exempt Financing - Grants to State and local govenments an election to issue either bonds which yield tax-exempt interest to the holder or taxable bonds eligible for a subsidy from the Treasury for a fixed percentage of their interest costs. Authorizes a subsidy of 35 percent of the interest costs on bonds issued in 1979 and 1980 and 40 percent on bonds issued after 1980. Eliminates the tax exemption for interest on industrial development bonds issued for pollution control facilities and industrial parks. Permits the issuance of tax-exempt industrial development bonds in an amount of $1,000,000 or less which are used for facilities constructed in an economically distressed area (as defined by the National Development Bank Act of 1978). Prohibits tax exemptions for interest on bonds issued by State and local governments to finance hospital construction for private nonprofit institutions, unless the State certifies that a new hospital is needed. Title IV: Tax Treatment of Business - Reduces the corporate tax rate on taxable income of $25,000 or less to 18 percent and to 20 percent on income in excess of $25,000. Reduces the surtax to 24 percent of taxable income in excess of $50,000, effective in 1980. Makes permanent the ten percent investment tax credit. Extends the investment tax credit to the construction of new industrial buildings and to investments made to rehabilitate existing industrial buildings, if such construction or investment occurred after December 31, 1977. Limits the investment tax credit to a maximum 90 percent offset against tax liability for any taxable year. Permits carryover and carryback of work incentive program expenses for purposes of computing the work incentive program tax credit. Extends the full ten percent investment tax credit to pollution control facilities amortizable over a five year period. Increases from 10 to 15 the number of shareholders a small business may have without loosing Subchapter S corporate status. Sets forth rules for qualifying certain individuals and trusts as Subchapter S sharholders, for making an election to qualify as a Subchapter S Corporation, and for terminating or revoking such election. Sets forth rules for computing depreciation expenses of small businesses. Requires the Secretary to prescribe a table of useful lives for depreciable business property which will permit small businesses to deduct larger depreciation expenses earlier in the useful life of the property. Increases the amount of loss on small business stock that may be treated as ordinary, rather than capital, loss. Repeals provisions which confer preferential tax treatment on domestic international sales corporations (DISC). Increases, during the years 1978 to 1981, the percentage of DISC dividends taxable to its shareholders until 100 percent of such dividends are taxable. Sets forth rules for the taxation of accumulated DISC income to shareholders and for the allocation of gains and losses incurred by shareholders of a terminated DISC. Eliminates, over a three year period, provisions which allow a U.S. controlled foreign corporation to defer payment of taxes on earnings. Treats the gross income, deductions, and taxes which are eligible for the foreign tax credit as earned or incurred directly by the U. S. shareholder. Provides that the earnings of the controlled foreign corporation will be taxed currently whether or not such earnings are paid to U. S. shareholders as dividends. Eliminates the percentage method for determining additions to bad debt reserves of commercial banks. Requires bonks to base future additions to bad debt reserves on their actual experience in the current and succeeding five years. Requires mutual savings banks and savings and loan associations to reduce bad debt deduction percentages over a five year period. Eliminates the tax exempt status of credit unions. Requires farm corporations to use the accrual method of accounting unless such corporations elect Subchapter S corporate status or have less than $1,000,000 of gross receipts in taxable years beginning in 1976. Title V: Excise Taxes - Repeals the excise tax on communications services as of October 1, 1978. Imposes an unemployment tax on employers equal to 3.2 percent of the total wages paid by such employers after December 31, 1978.
United States · United States Congress · 12 April 1978
Amends the Internal Revenue Code to provide that an individual's allowable charitable contributions shall be deducted when determining the individual's adjusted gross income, thereby allowing the deduction to individuals who do not itemize.
United States · United States Congress · 12 April 1978
Amends the Internal Revenue Code to allow taxpayers to credit against the income tax specified higher education expenses, including tuition, fees, books, and supplies, incurred by the taxpayer for himself or any other individual. Limits the credit to 100 percent of the first $300 for any individual, 50 percent of the next $300, and 10 percent of the next $400. Limits the credit to expenses incurred by full time students at institutions of vocational and higher education, minus scholarships and veterans' benefits. Limits the total credit allowed the taxpayer to his income tax liability minus the sum of all other credits applied thereto. Disallows any deduction of educational expenses used to determine the amount of the credit allowed by this Act.
United States · United States Congress · 12 April 1978
Amends the Internal Revenue Code to allow individuals a refundable income tax credit for the amount of wages and other earned income lost as a result of an "emergency" or "major disaster" as defined under the Disaster Relief Act of 1974.
United States · United States Congress · 11 April 1978
Education Fiscal Assistance Act - Amends the Internal Revenue Code to allow each individual taxpayer a refundable $100 income tax credit for each dependent child who is enrolled in a school, from the elementary level through graduate studies, whether or not any expenses are incurred for the child's education. Forbids any construction of this Act as granting the government additional authority to examine the books or activities of church schools except to the extent necessary to determine whether they are educational institutions within the meaning of this Act. Provides for the immediate certification of any judicial action brought in a United States district court concerning the constitutionality of this Act to the appropriate circuit court of appeals. Authorizes direct appeal to the Supreme Court of any decision by a circuit court. Directs the expedited consideration of such a case at both judicial levels. Provides that if any provision of this tax credit, or its application, is held invalid to any provision of this tax credit, or its application, or is held invalid to any person or circumstances, the ruling shall not affect the remainder of the provisions of the credit, nor the application of such provisions to other persons or circumstances. Provides that the refund of this tax credit shall not be used in computing any person's eligibility for federally-funded educational assistance benefits.
United States · United States Congress · 11 April 1978
Amends the Central, Western, and South Pacific Fisheries Development Act to direct the Secretary of Commerce to consult and cooperate with appropriate member nations of the South Pacific Regional Fishery Agency in carrying out the purposes of the Act. Authorizes the Secretary, in consultation with all member nations of the Agency and other specified parties, to establish an additional program for the development of tuna and other latent fishery resources. Increases appropriation authorizations to carry out the purposes of the Act through fiscal year 1982.
United States · United States Congress · 11 April 1978
Amends the Internal Revenue Code to exclude from gross income any amount received as a statutory subsistence allowance by a public law enforcement officer in the United States.
United States · United States Congress · 11 April 1978
Noisy Aircraft Revenue and Credit Act -- Replaces, for a five-year period, two percent of the respective excise taxes on air transportation of persons (presently eight percent), and property (presently five percent) with an additional, separately stated two percent tax on consumers pertaining to the retrofitting and replacement of noisy aircraft equipment. Suspends the $3 tax on international facilities for the same period, replacing it with a tax for noisy aircraft that is $2 if less than $100 is paid by the consumer, $10 if more than $100 is spent. Allows airliners which replace or remodel noisy aircraft in order to conform to Federal Aviation Administration noise regulations to recover some of their costs through refunds or credits of the new excise taxes. Allows refunds or credits ranging from 50 to 90 percent of the cost of retrofit property, 75 percent of the cost of replacement engines, and 25 or 40 percent of the cost of replacement aircraft, depending on which noise standards are met by the new aircraft. Directs the Secretary of the Treasury to issue regulations on these matters. Defines the types of equipment and standards qualifying for the credits and refunds of this Act.
United States · United States Congress · 11 April 1978
Economic Redevelopment Area Tax Incentive Act - Amends the Internal Revenue Code to allow an additional five percent investment tax credit for new, depreciable business property placed in high unemployment urban areas. Increases the maximum investment credit allowable to 90 percent of income tax liability exceeding $25,000. Allows employers a limited income tax credit for a portion of the wages paid to certain new employees for services in high unemployment urban areas.
United States · United States Congress · 11 April 1978
Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.
United States · United States Congress · 11 April 1978
Permits a taxpayer to continue to treat, at his option, a payment of compensation under a nonqualified compensation reduction plan as payable to him in a later tax year, despite a proposed Treasury Department rule which would require such payment to be treated as payable to the taxpayer in the year it would have been payable but for the taxpayer's exercise of his option.
United States · United States Congress · 11 April 1978
Amends the Internal Revenue Code to provide graduted income tax rates for corporations with a maximum rate of 45 percent on income in excess of $150,000 and a minimum rate of 18 percent on income not in excess of $25,000.
United States · United States Congress · 11 April 1978
Amends the Internal Revenue Code to provide that artistic compositions, copyrights, and the like shall not be included in the estate tax valuation of the creator's estate.
United States · United States Congress · 11 April 1978
Individual Housing Act - Amends the Internal Revenue Code to allow individuals an income tax deduction of up to $2,500 annually and $10,000 in a lifetime for contributions to an individual housing account. Makes such accounts tax exempt and allows distributions from such an account to be tax free if such distributions are used exclusively for the purchase of a principal residence for the distributee.
United States · United States Congress · 11 April 1978
Amends the Internal Revenue Code to provide that an individual's allowable charitable contributions shall be deducted when determining the individual's adjusted gross income, thereby allowing the deduction to individuals who do not itemize.
United States · United States Congress · 10 April 1978
Amends the Internal Revenue Code to allow a surviving spouse to treat as furnished consideration, for estate tax purposes, up to a 50 percent share of any joint farm or small business property which was unpaid for at the time of marriage, determined at the rate of two percent a year if such spouse actually participates in the operation of such farm or small business.
United States · United States Congress · 10 April 1978
Amends the Internal Revenue Code to extend to all residents of the United States the same general exclusion of income earned abroad that is presently limited to citizens. Repeals the disallowance of an income tax credit for foreign taxes paid on income items that are excluded as foreign earned income. Increases the limitations on this exclusion, with provisions for annual adjustments by the Secretary of the Treasury to correspond to rate increases paid to GS-12, step one government employees. Allows a new income tax deduction for the sum of foreign source income related expenses falling in the following categories: the cost-of-living differential (i.e., the excess cost) of maintaining a family in a foreign country rather than the United States (to be governed by tables published by the Secretary of the Treasury, guided by the State Department's index of foreign living costs); a portion of the excess housing costs experienced abroad the elementary and secondary education expenses of the taxpayer's dependents, including room, board and travel if no adequate "United States-type" schools are available; travel expenses of one annual trip home; and reasonable transportation expenses for the taxpayer and his family for travel between remote or adverse posts and any other location approved by the employer. Allows taxpayers to use deduction for determining adjusted gross income, thereby extending it to individuals not itemizing their deductions. Limits deducting any expense item to one of the specified categories of this deduction, thereby avoiding multiple deductions of single expenses. Includes in gross income any reimbursement by an employer for expenses qualifying for this deduction. Increases the time and amount limitations for moving expense deductions in the cases of all international moves resulting from death of the taxpayer, retirement, or a new principal place of work. Includes the storage fees incurred for the duration of a foreign assignment within the expenses qualifying for this deduction. Excludes from gross income all meals and lodging furnished the taxpayer and his dependents by his employer outside the United States in a "camp-style" or communal setting. Provides taxpayers working abroad the same extended repurchase time limitations as are presently provided servicemen stationed overseas for the nonrecognition of gain on the sale or exchange of a principal residence.
United States · United States Congress · 7 April 1978
Amends the Internal Revenue Code to qualify services performed by a surviving spouse as consideration for purposes of excluding portions of jointly held property from a decedent's taxable estate.
United States · United States Congress · 6 April 1978
See summary of: H.R. 9168
United States · United States Congress · 6 April 1978
Amends the Internal Revenue Code to allow individuals an income tax credit for five percent of the rent paid for their principal residence. Limits the credit to $75 in the case of a joint return, $37.50 for married individuals filing separately, and $50 for other taxpayers.
United States · United States Congress · 6 April 1978
Amends the Internal Revenue Code to make new greenhouses eligible for the investment tax credit.
United States · United States Congress · 6 April 1978
Amends the Federal Civil Defense Act of 1950 to authorize appropriations for fiscal years 1979 through 1985 to carry out the provisions of such Act.
United States · United States Congress · 6 April 1978
Amends the Internal Revenue Code to allow an individual who has attained the age of 62 before the close of the taxable year to exclude up to $3,000 of interest which would otherwise be includible in gross income. Reduces the amount of interest which may be excluded by one-half of the excess of the taxpayer's adjusted gross income over $5,500.
United States · United States Congress · 6 April 1978
Amends the Internal Revenue Code to allow taxpayers to deduct all current expenditures for plants and facilities which are otherwise chargeable to capital account and which are certified as required by Federal law and as not significantly increasing the plant's or facility's value or productivity.
United States · United States Congress · 6 April 1978
Amends the Internal Revenue Code to extend to all residents of the United States the same general exclusion of income earned abroad that is presently limited to citizens. Repeals the disallowance of an income tax credit for foreign taxes paid on income items that are excluded as foreign earned income. Increases the limitations on this exclusion, with provisions for annual adjustments by the Secretary of the Treasury to correspond to rate increases paid to GS-12, step one government employees. Allows a new income tax deduction for the sum of foreign source income related expenses falling in the following categories: the cost-of-living differential (i.e., the excess cost) of maintaining a family in a foreign country rather than the United States (to be governed by tables published by the Secretary of the Treasury, guided by the State Department's index of foreign living costs); a portion of the excess housing costs experienced abroad the elementary and secondary education expenses of the taxpayer's dependents, including room, board and travel if no adequate "United States-type" schools are available; travel expenses of one annual trip home; and reasonable transportation expenses for the taxpayer and his family for travel between remote or adverse posts and any other location approved by the employer. Allows taxpayers to use deduction for determining adjusted gross income, thereby extending it to individuals not itemizing their deductions. Limits deducting any expense item to one of the specified categories of this deduction, thereby avoiding multiple deductions of single expenses. Includes in gross income any reimbursement by an employer for expenses qualifying for this deduction. Increases the time and amount limitations for moving expense deductions in the cases of all international moves resulting from death of the taxpayer, retirement, or a new principal place of work. Includes the storage fees incurred for the duration of a foreign assignment within the expenses qualifying for this deduction. Excludes from gross income all meals and lodging furnished the taxpayer and his dependents by his employer outside the United States in a "camp-style" or communal setting. Provides taxpayers working abroad the same extended repurchase time limitations as are presently provided servicemen stationed overseas for the nonrecognition of gain on the sale or exchange of a principal residence.
United States · United States Congress · 6 April 1978
Graduated Income Tax Rate Act - Amends the Internal Revenue Code to provide graduated income tax rates for corporations ranging from a 14 percent rate on the first $25,000 in income to a 48 percent rate on income in excess of $100,000,000.
United States · United States Congress · 5 April 1978
Authorizes appropriations for the Coast Guard for fiscal years 1979 and 1980. Sets forth the authorized end strength level for active duty personnel and the average military training student load for the Coast Guard for such fiscal year. Amends the Federal Boat Safety Act of 1971 to authorize appropriations for State boating safety programs for such fiscal year. Authorizes the Coast Guard to enter into a long term lease for the purpose of acquiring land on the Quillayute Indian Reservation in the State of Washington in order to relocate the Quillayute River Coast Guard Station. Authorizes the Coast Guard to enter into a long term lease for its Aviation Training Center at Bates Field, Mobile, Alabama, and to expend funds for specified construction projects at such training center.
United States · United States Congress · 5 April 1978
Amends the Marine Mammal Protection Act of 1972 to authorize appropriations for fiscal years 1979 and 1980 for the activities of the Marine Mammal Commission.
United States · United States Congress · 5 April 1978
Amends the Fishery Conservation and Management Act of 1976 to extend authorization for appropriations to carry out the purposes of the Act for fiscal years 1979 and 1980.
United States · United States Congress · 5 April 1978
Individual Housing Act - Amends the Internal Revenue Code to allow individuals an income tax deduction of up to $2,500 annually and $10,000 in a lifetime for contributions to an individual housing account. Makes such accounts tax exempt and allows distributions from such an account to be tax free if such distributions are used exclusively for the purchase of a principal residence for the distributee.
United States · United States Congress · 5 April 1978
Tuition Tax Credit Act - Amends the Internal Revenue Code to allow a credit against an individual's income tax in an amount equal to 50 percent of the sum of the amounts paid by him to educational institutions as tuition (though no more than $500 for any single individual) for the attendance of the taxpayer, the taxpayer's spouse, or any of his dependents with respect to whom he is entitled to a personal exemption.
United States · United States Congress · 5 April 1978
Amends the Internal Revenue Code to allow individuals a limited income tax credit for educational expenses incurred for the higher education of themselves, their spouses and their dependents.
United States · United States Congress · 5 April 1978
Amends the Internal Revenue Code to allow certain individuals to compute the amount of the deduction for retirement savings on the basis of the earned income of their spouses.
United States · United States Congress · 5 April 1978
Education Fiscal Assistance Act - Amends the Internal Revenue Code to allow each individual taxpayer a refundable $100 income tax credit for each dependent child who is enrolled in a school, from the preschool, day-care level through graduate studies, whether or not any expenses are incurred for the child's education. Forbids any construction of this Act as granting the government additional authority to examine the books or activities of church schools except to the extent necessary to determine whether they are educational institutions within the meaning of this Act. Provides for the immediate certification of any judicial action brought in a United States district court concerning the constitutionality of this Act to the appropriate circuit court of appeals. Authorizes direct appeal to the Supreme Court of any decision by a circuit court. Directs the expedited consideration of such a case at both judicial levels. Provides that if any provision with respect of this tax credit, or its application, is held invalid to any person or circumstances, the ruling shall not affect the remainder of the provisions of the credit, nor the application of such provisions to other persons or circumstances. Provides that the refund of this tax credit shall not be used in computing any person's eligibility for federally-funded educational assistance benefits.
United States · United States Congress · 5 April 1978
Amends the Internal Revenue Code to allow handicapped individuals who are incapable of operating highway vehicles an income tax deduction for their comuting expenses.
United States · United States Congress · 5 April 1978
Amends the Internal Revenue Code to exempt trustee services by tax exempt foundations for disqualified persons from excise tax treatment as self-dealing where: (1) the service is pursuant to an irrevocable trust established before October 9, 1969; (2) the foundation's chartering State forbids it from acting as a trustee where it has no beneficial interest; (3) the foundation receives reasonable compensation for its services; (4) the disqualified person's status as such arises solely from the trust instrument.
United States · United States Congress · 5 April 1978
Sets forth the rule for the consideration of H.R. 11302 (Environmental research and development authorizations).
United States · United States Congress · 4 April 1978
Amends the Internal Revenue Code to allow a charitable deduction for contributions to any organization which, on or before May 26, 1969, and continuously thereafter to the close of the taxable year, operated and maintained as its principal functional purpose facilities for the long-term care, comfort, maintenance, or education of permanently and totally disabled persons; elderly persons; needy widows; or children.
United States · United States Congress · 4 April 1978
Tuition Tax Credit Act - Amends the Internal Revenue Code to allow a credit against an individual's income tax in an amount equal to 50 percent of the sum of the amounts paid by him to educational institutions as tuition (though no more than $500 for any single individual) for the attendance of the taxpayer, the taxpayer's spouse, or any of his dependents with respect to whom he is entitled to a personal exemption.
United States · United States Congress · 4 April 1978
Amends the Hazardous Materials Transportation Act to authorize appropriations to carry out the provisions of such Act for fiscal year 1979.