Skip to content
PoliticalRepoPoliticalRepo

Subjects · United States

Taxation

Records whose title is actually about this topic. Use a country filter if the list is still too broad.

501 records in US in 1979

All countriesUnited States · 53,051European Union · 5,204Ireland · 4,382Austria · 4,160United Kingdom · 3,280France · 2,309Germany · 1,781Netherlands · 865Belgium · 1Search this topic

Records

Bill· HRH.R. 4646 (96th)referred

Capital Cost Recovery Act of 1979

United States · United States Congress · 27 June 1979

Capital Cost Recovery Act of 1979 - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Allows a ten percent investment tax credit for buildings and tangible property, and a six percent credit for automobiles, taxis, and light duty trucks. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year.

Bill· HRH.R. 4635 (96th)referred

A bill making an appropriation for the Department of Health, Education, and Welfare for the fiscal year ending September 30, 1980, for a grant to the Eastern Carolina Vocational Center.

United States · United States Congress · 27 June 1979

Appropriates the sum of $1,500,855 for fiscal year 1980 for the Department of Health, Education, and Welfare, for the purpose of providing a grant pursuant to the special demonstration program for improving rehabilitation services for handicapped individuals under the Rehabilitation Act of 1973, to the Eastern Carolina Vocational Center, Greenville, North Carolina, to construct a recreational-residential facility.

Bill· SS. 1412 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for certain contributions of real property for conservation purposes.

United States · United States Congress · 26 June 1979

Amends the Internal Revenue Code with respect to charitable contributions of partial interest in real property to allow an income tax deduction for any interest in real property if: (1) the only interests retained by the taxpayer are oil, gas, or other mineral interests; and (2) such retained oil, gas, or other minerals may not be extracted by surface mining methods. Amends the Tax Reduction and Simplification Act of 1977 and the Tax Reform Act of 1976 to remove the June 14, 1981 expiration date for the application of denial of deduction provisions to charitable contributions of partial interests in real property.

Bill· HRH.R. 4611 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for certain contributions of real property for conservation purposes.

United States · United States Congress · 26 June 1979

Amends the Internal Revenue Code with respect to charitable contributions of partial interests in real property to allow an income tax deduction for any interest in real property if: (1) the only interests retained by the taxpayer are oil, gas, or other mineral interests; and (2) such retained oil, gas, or other minerals may not be extracted by surface mining methods. Amends the Tax Reduction and Simplification Act of 1977 and the Tax Reform Act of 1976 to remove the June 14, 1981, expiration date for the application of denial of deduction provisions to charitable contributions of partial interests in real property.

Bill· HRH.R. 4592 (96th)referred

Small Business Paperwork Reduction and Penalty Equalization Amendments Act

United States · United States Congress · 22 June 1979

Small Business Paperwork Reduction and Penalty Equalization Amendments Act - Amends the Internal Revenue Code to relieve an employer of his obligation to furnish his employees whose employment is terminated before the close of the calendar year with a written statement of their wages and withholding, unless such employees request, in writing, a statement within 30 days from the date of their termination. Requires the employer to furnish such information within 30 days of receipt of an employee's request. Reduces the penalty imposed upon an employer for failure to provide such information. Reduces penalties imposed upon a tax-exempt organization, a trust, or the manager of a tax-exempt organization for failure to file required tax returns. Reduces penalties imposed upon a private foundation for its failure to file required annual reports. Relieves income tax preparers from liability for an underpayment of estimated tax by an individual or corporation. Defines "negligent or intentional disregard of rules and regulations" and "willful neglect" for purposes of determining the liability of an income tax preparer for an understatement of taxpayer liability.

Bill· HRH.R. 4581 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt nonprofit volunteer firefighting or rescue organizations from the Federal excise taxes on gasoline, diesel fuel, and certain other articles and services.

United States · United States Congress · 22 June 1979

Amends the Internal Revenue Code to exempt nonprofit volunteer firefighting or rescue organizations from the excise tax on sales of special fuels, automotive parts, petroleum products, and communication services.

Bill· HRH.R. 4187 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow individuals a credit against income tax for expenditures made for the purchase and installation of locks and other security devices in principal residences.

United States · United States Congress · 22 June 1979

Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for up to 50 percent of the cost of installing security devices in their principal residences. Limits the amount of such credit to $200 for a taxable year. Defines "security devices" as a lock, alarm, or other device which is installed in a taxpayer's principal residence for the purpose of securing such residence.

Bill· SS. 1384 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a credit against tax for contributions of certain crops by farmers to certain tax-exempt organizations.

United States · United States Congress · 21 June 1979

Amends the Internal Revenue Code to allow farmers an income tax credit equal to ten percent of the value of farm crops (wholesale market price or most recent sale price) contributed to a tax-exempt charitable or educational organization. Requires, as a condition of eligibility for the credit, that: (1) the crop be harvested by, or on behalf of, the donee; (2) the crop be fit for human or animal consumption; (3) the use of the crop by the donee be related to the purpose constituting the basis of its tax exemption; (4) the crop not be transferred by the donee in exchange for money, other property, or services; and (5) the taxpayer receive from the donee a written statement that the crops are being used in accordance with the requirements of this Act. Terminates the credit after December 31, 1982.

Bill· HRH.R. 4564 (96th)referred

Tax Equalization Act of 1979

United States · United States Congress · 21 June 1979

Tax Equalization Act of 1979 - Repeals the tax-exempt status of farmers' cooperatives and the special tax treatment of corporate cooperatives and their patrons. Disallows an income tax deduction for patronage dividends paid by cooperative corporations. Defines a "cooperative corporation" as a corporation which: (1) calls itself a "cooperative" or "co-op"; (2) represents to any individual or group that their patronage will or may entitle them to patronage dividends or an equity interest in the cooperative's assets; or (3) is operated for the mutual benefit of persons or classes that deal with it.

Bill· HRH.R. 4565 (96th)referred

Shale Oil Production Tax Incentive Act of 1979

United States · United States Congress · 21 June 1979

Shale Oil Production Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to $3 for each barrel of shale oil produced by the taxpayer during the taxable year, plus the production credit carryovers and carrybacks for that year. Reduces the standard $3 per barrel credit proportionately by: (1) the amount of Federal grant funds, if any, used by the taxpayer in the production of shale oil; and (2) the amount by which the adjusted reference price (average refiner acquisition cost of a barrel of imported crude oil during the calendar year immediately preceding the calendar year in which the credit is claimed) exceeds $25. Authorizes the President to adjust the amount of the credit when such action is in the national interest. Requires, as a condition of eligibility for the credit, that the shale oil be produced within the United States or its possessions. Provides for a cost of living adjustment to the basic $3 credit amount. Requires the Secretary of Energy to publish the adjusted reference price, and an explanation of the method and data used in computing it.

Bill· SS. 1372 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide an exclusion for income earned abroad attributable to certain charitable services.

United States · United States Congress · 19 June 1979

Amends the Internal Revenue Code to provide a tax exclusion from personal income earned abroad by an individual performing qualified charitable services for a tax-exempt employer created or organized in the United States. Limits such exclusion to an amount not to exceed a figure computed on a daily basis at an annual rate of $20,000. Sets a formula for the maximum amount of exclusion for an individual who performs such charitable services and also performs other services while residing in a camp located in a hardship area.

Resolution· SRESS.Res. 188 (96th)passed

A resolution stating transitional rules for tax exempt mortgage bonds.

United States · United States Congress · 19 June 1979

Expresses the sense of the Senate with respect to the adoption of transitional rules for the elimination of the tax exclusion of interest from Government bonds issued to finance mortgages on owner-occupied and multifamily residences. Provides that interest from Government bonds issued after April 25, 1979, shall be excludable from gross income if official actions had been taken by such date indicating an intent to issue such bonds. Permits the rollover of bonds outstanding on April 24, 1979, where the maturity date of such bonds is no longer than the life of the initial mortgages on the property. Permits the use of the tax-exempt bonds for the financing of projects which had reached specified stages of development prior to April 25, 1979.

Bill· HRH.R. 4536 (96th)reported

A bill to amend the Internal Revenue Code of 1954 and the Comprehensive Employment and Training Act to provide for the eligibility of certain in-school youth for, and for the certification and referral of such youth to, jobs under the targeted jobs tax credit program.

United States · United States Congress · 19 June 1979

Amends the Internal Revenue Code and the Comprehensive Employment and Training Act to require the certification by prime sponsors or designated local agencies of individuals participating in the targeted jobs tax credit program as economically disadvantaged youths. Requires certification that such individuals meet specified age requirements and are members of an economically disadvantaged family. Permits in-school youth between the ages of 16 and 19 to qualify for the program.

Bill· HRH.R. 4527 (96th)referred

First Home Ownership Act of 1979

United States · United States Congress · 19 June 1979

First-Home Ownership Act of 1979 - Amends the Internal Revenue Code to allow individuals who have never owned a home an income tax credit for certain amounts contributed to an individual housing account. Limits the cash amount of such credit to $2,500 for any taxable year, and $10,000 during the taxpayer's lifetime. Requires contributions made to an individual housing account to remain in such account for at least 12 months. Establishes a schedule of percentages, graduated downward according to adjusted gross income, for purposes of determining the amount of contribution to an individual housing account which may be credited against income tax liability. Exempts individual housing account trusts from income taxation. Imposes tax penalties on amounts distributed from an individual housing account for purposes other than the purchase of a principal residence. Requires the trustee of an individual housing account to report to the Internal Revenue Service with respect to contributions to and distributions from such account. Imposes fines for failure to make such report.

Bill· HRH.R. 4517 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow individuals to elect a nonrefundable credit for health insurance premiums paid under an individual policy in lieu of the deduction for such premiums.

United States · United States Congress · 18 June 1979

Amends the Internal Revenue Code to allow taxpayers to elect a nonrefundable income tax credit for 15 percent of the non-group health insurance premiums paid under an individual policy, in lieu of the income tax deduction for such premiums. Defines "non-group health insurance premiums" as any amount paid for insurance for the medical care of the taxpayer or his dependents which is not provided pursuant to an employment relationship or under a plan established by Federal law.

Bill· HRH.R. 4516 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt certain farm property from the estate tax.

United States · United States Congress · 18 June 1979

Amends the Internal Revenue Code to exclude from a decedent's gross estate for purposes of the estate tax the value of real property used in farming. Excludes up to the first $400,000 of the value of the farm property and certain percentages of the value in excess of $400,000. Requires a percentage reduction of the amount of the exclusion for farm property in excess of $600,000.

Bill· HRH.R. 4503 (96th)referred

A bill to provide that certain indebtedness incurred before 1965 will not be treated as acquisition indebtedness for purposes of applying section 514 of the internal Revenue Code of 1954 to certain sales during 1976.

United States · United States Congress · 18 June 1979

Provides that, with respect to any sale of real property during 1976, indebtedness incurred before January 1, 1965, by a tax-exempt organization to finance the construction of a building on such property shall not be treated as acquisition indebtedness for purposes of the tax on the unrelated business income of such organization, if the property was acquired by such organization before January 1, 1952, and is contiguous to another parcel of real property which was acquired by such organization before January 1, 1952, and was used by such organization in accordance with the purposes for which such organization received its tax-exemption.

Bill· HRH.R. 4496 (96th)referred

A bill to repeal the carryover basis provisions added by the Tax Reform Act of 1976.

United States · United States Congress · 15 June 1979

Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act of 1976 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.

Bill· HRH.R. 4492 (96th)referred

A bill to amend the Internal Revenue Code of 1954 relating to the amortization of certain water quality facilities, and for other purposes.

United States · United States Congress · 15 June 1979

Amends the Internal Revenue Code to allow an income tax deduction with respect to the amortization of any certified water quality facility based on a period of 60 months. Defines a "certified water quality facility" as a facility of a regulated public utility constructed or acquired after 1974 which is placed in service pursuant to the general policy of the United States to protect health under the provisions of the Safe Drinking Water Act, and which is certified by Federal and State authorities as complying with requirements of programs established pursuant to such Act. Places limitations on the eligibility of regulated public utilities for the deduction provided by this Act whose cost of service for ratemaking purposes is reduced as a result of claiming such deduction.

Bill· SS. 1345 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a credit against tax for certain research and experimental expenditures

United States · United States Congress · 14 June 1979

Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to 25 percent of the research and experimental expenditures incurred by a taxpayer in connection with his trade or business. Limits the amount of expenditures eligible for the credit to those research and experimental expenditures which exceed 102 percent, but which do not exceed 150 percent, of the expenditures for the preceding taxable year. Allows a three year carryback and a seven year carryover of credit amounts which exceed the limitations on the credit for any taxable year.

Bill· SS. 1352 (96th)referred

A bill to provide that the Internal Revenue may not implement certain rules relating to the determination of whether private schools have discriminatory policies until Congress provides specific guidelines for such determination.

United States · United States Congress · 14 June 1979

Prohibits the Secretary of the Treasury from implementing the proposed revenue procedure published in the Federal Register on February 13, 1979, which sets forth guidelines for determining whether private schools have forfeited their tax-exempt status through the adoption of racially discriminatory policies, until Congress enacts specific guidelines for making such determinations.

Bill· HRH.R. 4467 (96th)referred

A bill to extend to all unmarried individuals the full tax benefits of income splitting now enjoyed by married individuals filing joint returns; and to remove rate inequities for married persons where both are employed.

United States · United States Congress · 14 June 1979

Amends the Internal Revenue Code to provide identical income tax rates for single persons and married couples filing joint returns. Limits the earned income that must be reported by a married person filing a separate return to the amount actually earned by that individual.

Bill· HRH.R. 4443 (96th)referred

Oil and Gas Tax Act of 1979

United States · United States Congress · 13 June 1979

Oil and Gas Tax Act of 1979 - Amends the Internal Revenue Code to repeal the percentage depletion allowance for independent oil and gas producers and royalty owners. Repeals the tax treatment of intangible drilling and development costs for oil and gas wells (except nonproductive wells) as currently deductible expenses. Requires that such costs be capitalized and amortized over a 120 month period. Excludes from gross income foreign oil and gas income. Defines such income as any amount derived from an oil or gas property located outside the United States to the extent that such amount constitutes gross income from property for purposes of the percentage depletion allowance. Requires the payment of income taxes at the corporate level on the foreign oil-related income of domestic corporations.

Bill· HRH.R. 4446 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the retirement-replacement-betterment method of accounting for property used by a common carrier (including a railroad switching company or a terminal company) is an acceptable method for determining depreciation allowances for income tax purposes.

United States · United States Congress · 13 June 1979

Amends the Internal Revenue Code to permit common carriers by railroad (including a railroad switching company or a terminal company) to use the retirement-replacement-betterment method of accounting for determining depreciation allowances for income tax deduction purposes.

Law· SS. 1319 (96th)open

An act to authorize certain construction at military installations for fiscal year 1980, and for other purposes.

United States · United States Congress · 12 June 1979

Military Construction Authorization Act, 1980 - Title I: - Authorizes the Secretary of the Army to establish or develop military installations and facilities at specified locations. Authorizes appropriations in specified amounts for each of these locations. Authorizes the Secretary to establish or develop other installations by proceeding with construction made necessary by unforeseen security considerations, new weapons development, new and unforeseen research and development requirements, improved production schedules or revisions in the tasks or functions assigned to a military installation or for environmental considerations if the Secretary of Defense determines that deferral of such construction for inclusion in the next Military Construction Authorization Act would be inconsistent with the national security. Authorizes appropriations for such emergency construction. Title II: - Authorizes the Secretary of the Navy to establish or develop military installations and facilities at specified locations. Authorizes appropriations in specified amounts for each such location. Authorizes the Secretary to establish or develop other installations where necessary under the same conditions as those relating to the Secretary of the Army under Title I of this Act. Authorizes the Secretary to expend excess foreign exchange funds of $580,000 for the construction of a multipurpose marine biological laboratory at the Al Ghardaqa Marine Laboratory, Hurgada, Arab Republic of Egypt. Title III: - Authorizes the Secretary of the Air Force to establish or develop military installations and facilities at specified locations. Authorizes appropriations in specified amounts for each such location. Authorizes the Secretary to establish or develop additional facilities where necessitated by those factors enumerated in Title I of this Act pertaining to the Secretary of the Army. Amends the Military Construction Authorization Acts of 1978, to decrease the authorization of appropriations for Air Force acquisition and construction projects at various locations in Europe. Title IV: Defense Agencies - Authorizes the Secretary of Defense to establish or develop military installations at specified locations and authorizes appropriations in specified amounts for each such location. Authorizes the Secretary to establish or develop additional facilities which are determined to be vital to the security of the United States. Authorizes appropriations for such purpose. Amends the Military Construction Authorization Act of 1978 to increase the authorization of appropriations for the High Energy Laser Facility at White Sands, New Mexico. Amends the Military Construction Authorization Act, 1979, to increase the authorization of appropriations for the United States' share of NATO programs for the acquisition or construction of military facilities. Title V: Military Family Housing and Homeowners Assistance Program - Authorizes the Secretary of Defense to acquire or construct 332 family housing units at Tinker Air Force Base, Oklahoma. Authorizes appropriations for such purpose. Increases the maximum average rental expenditure for military housing within the United States or abroad. Decreases the total number of military family housing units which may be leased in foreign countries at any one time. Authorizes specified appropriations for military housing as authorized by law including homeowners assistance pursuant to the Demonstration Cities and Metropolitan Development Act of 1966. Title VI: Authorization of Appropriations and Administrative Provisions - Authorizes the Secretaries of the various military departments to develop installations under this Act without regard to provisions of law which prohibit the advancement of public moneys and which require the submission of detailed cost estimates to Congress. Establishes expenditure ceilings for each title of this Act. Authorizes limited increases in the amounts authorized pursuant to this Act if the Secretary of the military department or the Director of the defense agency concerned determines that such an increase is required for the sole purpose of meeting unusual and unanticipated variations in costs. Directs the Secretary of Defense to encourage the use of solar energy for projects authorized by this Act and authorizes the Secretary to increase the cost limitations or floor area limitations for a project in order to equip it with solar energy heating or cooling equipment. Establishes measures and responsibility for supervising the construction work authorized under this Act. Repeals prior Military Construction Authorization Acts. Specifies exceptions to such repealer. Sets forth unit cost limitations based on square footage for projects authorized pursuant to this Act. Title VII: Guard and Reserve Forces Facilities -Authorizes the Secretary of Defense to establish or develop additional facilities for the Guard and Reserve Forces of various military departments. Authorizes appropriations in specified amounts for each such entity. Increases the maximum Federal contribution for Guard and Reserve Forces facilities which may be made without prior notification to Congress. Title VIII: General Provisions - Stipulates that a minor construction project (less than $300,000) which has been identified in the annual military construction program submitted to Congress shall not need the approval of the Secretary of Defense or the Secretary of the military department concerned. Authorizes the Secretaries of each military department to utilize geothermal energy resources or private property for the benefit of the Department of Defense. Amends the Secretary of Defense to pay to the owners of land on Roi-Namur Island, Marshall Islands District of the Trust Territories of the Pacific Islands, such amounts as are determined to be in the public interest for the use of such island by the United States Government after 1960. Authorizes the Secretary of the Air Force to convey to King County, Washington, the land comprising the 143rd Combat Squadron, Washington Air National Guard located at Boeing Field, Seattle, in exchange for a replacement facility for such Guard facility. Authorizes the Secretary of Defense to make a capital contribution of $500,000 from funds authorized for minor construction projects under this Act to the International Institute of Strategic Studies. Authorizes the Administrator of General Services to convey, without compensation the excess tract of land on the remaining portion of the former Ent Air Force Base, Colorado Springs, Colorado, to the United States Olympic Committee. Authorizes the Secretary of Defense to utilize mass transit vehicles on military installations if such use would be efficient, practical, and in the best interest of the United States. Directs the Secretary of Defense to pay the Department's share for the upgrading waste treatment facilities utilized by military installations where such upgrading is for the purpose of complying with the Federal Water Pollution Control Act. Stipulates that such share shall be the amount agreed upon by the Secretary and the appropriate authority concerned. Prohibits the use of any funds appropriated by this or any other Act for the realignment of the Strategic Air Command's Loring Air Force Base. Stipulates that the provisions of the Davis-Bacon Act shall not apply to any wages for the construction of any project authorized by this or any other military construction authorization Act if the contract for such construction was entered on or after the date of enactment of this Act.

Bill· SS. 1320 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax for the purchase of an electric vehicle or for converting a vehicle powered by an internal combustion engine to electric power.

United States · United States Congress · 12 June 1979

Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to ten percent of the cost of acquiring an electric automobile, or ten percent of the cost of converting an automobile powered by an internal combustion engine to the use of electrical power. Limits the dollar amount of such credit to $1,000.

Bill· HRH.R. 4432 (96th)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the tax treatment of cooperative electric and telephone companies.

United States · United States Congress · 12 June 1979

Amends the Internal Revenue Code to provide that income received by a mutual or cooperative electric company from nonmember electric companies for providing electric energy to such nonmember companies shall not be taken into account in determining the tax-exempt status of the mutual or cooperative electric company. Provides that income received by a mutual or cooperative telephone or electric company for services to customers of rural telephone or electric companies, and income received from the rental or sale of communications or power facilities, shall not be subject to the tax on unrelated business income.

PreviousPage 10 of 11Next