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Bill· HRH.R. 7252 (96th)reported

A bill to authorize appropriations for fiscal year 1981 for conservation, exploration, development and use of the naval petroleum reserves and naval oil shale reserves, and for other purposes.

United States · United States Congress · 1 May 1980

Authorizes appropriations to the Department of Energy for fiscal year 1981 for conservation, exploration, development, and use of the naval petroleum reserves and the naval oil shale reserves. Provides that the United States share of petroleum produced from Naval Petroleum Reserves Numbered One, Two, and Three shall be available, without reimbursement, exclusively to the Department of Defense. Directs the Secretary of Defense to use such petroleum to meet the requirements of the Department of Defense for petroleum products by: (1) direct use of such petroleum; or (2) exchange of such petroleum for petroleum products of substantially equivalent value for the use of the Department of Defense. Provides that amounts received pursuant to any such exchange shall be available to the Department of Defense to purchase petroleum products. Authorizes the abrogation of any contract to sell the U.S. share of such petroleum. Permits the sale of the U.S. share of natural gas for a period of more than one year. Authorizes the Secretary of the Navy to require the purchaser of any of the U.S. share of petroleum to be a supplier of petroleum products to the Department of Defense. Authorizes the President to exchange the U.S. share of petroleum produced from the naval petroleum reserves for other petroleum to be placed in strategic storage facilities. Requires any petroleum so placed to be used exclusively for the armed forces. Authorizes the use of monetary consideration in an exchange authorized pursuant to this Act.

Bill· HRH.R. 7240 (96th)referred

Urban Jobs and Enterprise Zone Act of 1980

United States · United States Congress · 1 May 1980

Urban Jobs and Enterprise Zone Act of 1980 - Title I: Designation of Private Jobs and Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of private jobs and enterprise zones by local governments, subject to the approval of the Secretary of Commerce, for purposes of extending the tax incentives provided by title II of this Act to employers and employees within designated zones. Specifies that the Secretary may only approve the designation of such zones if: (1) the area is within the jurisdiction of the designating local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000; and (4) the area meets specified unemployment and poverty requirements. Requires designating local governments, as a condition of the Secretary's approval, to effect a permanent real property tax reduction in their respective jurisdictions, which is not less than 20 percent of the current effective rate. Expresses the sense of the Congress that in the case of any application for designation of an area in a private jobs and enterprise zone as a foreign trade zone: (1) the Foreign-Trade Zone Board should expedite the application process; (2) the Board, in evaluating such application, should consider not only the current economic conditions within the zone, but also future development to be expected as a result of the incentives provided by this Act; and (3) the Board should provide technical assistance to the applicants. Title II: Tax Incentives - Amends the Internal Revenue Code to reduce social security payroll taxes in designated private jobs and enterprise zones. Reduces the rate of tax on the capital gains of individuals and corporations in such zones. Exempts gain from the sale or exchange of property used in a business in a private jobs and enterprise zone from the computation of the minimum tax. Reduces the rate of tax on the income of corporations whose workforce comprises at least 50 percent of individuals working in a private jobs and enterprise zone (qualifying businesses). Authorizes accelerated depreciation for qualifying businesses (straight line method based on a three year useful life). Limits the basis for depreciation to $500,000. Permits qualifying businesses to elect to use a cash method of accounting if their gross receipts do not exceed $1,500,000 in any prior taxable year. Allows a ten year carryover of net operating losses for qualifying businesses. Title III: Effective Dates - Specifies effective dates for provisions of this Act which apply to income tax and for provisions which apply to social security payroll taxes.

Bill· HRH.R. 7243 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the excise taxes on self-dealing by a private foundation shall not apply to certain scholarships awarded to children of foundation managers.

United States · United States Congress · 1 May 1980

Amends the Internal Revenue Code to exempt from the excise taxes on self-dealing by a private foundation certain scholarships awarded to the lineal descendants (or spouses of lineal descendants) of a foundation manager. Limits such exemption to scholarships: (1) that are not taxable expenditures; (2) when at least one-half of the scholarships awarded during the calendar year by such foundation are for the same or a greater amount than the particular scholarship concerned; (3) when the manager is not a disqualified person for any other reason; (4) when eligibility for all scholarships is determined by an objective test based on scholastic achievement, and application of such test does not involve substantial discretion on the part of any manager; and (5) when not more than three percent of the aggregate amount of scholarships awarded are awarded to lineal descendants (or spouses of lineal descendants) of any foundation managers.

Bill· HRH.R. 7246 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow an exclusion of gain from the sale of any principal residence of an individual.

United States · United States Congress · 1 May 1980

Amends the Internal Revenue Code to replace the one-time $100,000 exclusion from gross income of gain from the sale or exchange of a principal residence by taxpayers aged 55 with an unlimited tax exclusion of gain resulting from the sale of any residence which was owned and used by a taxpayer as his or her principal residence. Repeals provisions which allow a deferral of the tax on the gain from the sale of a principal residence.

Law· HJRESH.J.Res. 541 (96th)open

A joint resolution making additional funds available by transfer for the fiscal year ending September 30, 1980, for the Federal Trade Commission.

United States · United States Congress · 1 May 1980

Transfers for the "Federal Trade Commission, Salaries and Expenses" $7,600,000 from funds previously appropriated for fiscal year 1980 for the "Department of State, International Organizations and Conferences, Contributions to International Organizations." Makes such authority available until May 31, 1980. Limits obligations of the Federal Trade Commission (FTC) made pursuant to this resolution to $5,800,000. Prohibits the FTC from using such funds to promulgate new trade regulations or new activities. Prevents trade regulation rules promulgated after August 30, 1979, from becoming effective during the period covered by this resolution unless Congress enacts authorizing legislation.

Bill· SS. 2627 (96th)referred

Department of Energy Authorization for Supplemental Appropriations Act for Fiscal Year 1980-Civilian Applications

United States · United States Congress · 30 April 1980

Department of Energy Authorization for Supplemental Appropriations Act for Fiscal Year 1980 - Civilian Applications - Declares that funds authorized to be appropriated for fiscal year 1980 under this Act supplement appropriations to the Department of Energy under specified appropriation Acts. Title I: Research and Development - Authorizes appropriations for fiscal year 1980 for: (1) operating and capital equipment expenses for the coal fossil fuel program; (2) operating expenses for supply research and development programs in solar, nuclear fission, and low-head hydroelectric power; and (3) supply research and development plant and capital equipment for nuclear fission advanced nuclear systems capital equipment not related to construction. Title II: Regulation and Information and Other Activities - Authorizes appropriations for fiscal year 1980 for expenses for: (1) the Economic Regulatory Administration (with possible additional necessary sums for gasoline rationing expenses); (2) the Federal Energy Regulatory Commission; and (3) an Energy Information program. Title III: Commercialization and Related Activities - Authorizes appropriations for fiscal year 1980 for expenses for the following commercialization and related conservation activities programs: (1) Buildings and Community Systems; (2) Transportation; (3) State and Local; and (4) Energy Information Campaign. Title IV: Other Departmental Activities - Authorizes appropriations for fiscal year 1980 for: (1) operating expenses for uranium enrichment diffusion operations and support; (2) operating expenses for Departmental administrative management and support; and (3) Departmental administrative activities; plant and capital equipment and specified in-house energy management alternative energy source projects.

Bill· HRH.R. 7228 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income interest on industrial development bonds the proceeds of which are to be used to provide facilities for the production of alcohol for use in the production of gasohol or other fuel.

United States · United States Congress · 30 April 1980

Amends the Internal Revenue Code to exclude from gross income interest on industrial development bonds which are sold to finance facilities for the production of alcohol for use in the production of gasohol or other fuel.

Bill· HRH.R. 7220 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to extend for 2 years the period during which governing instruments may be amended to meet the requirements for a gift of a split interest to charity.

United States · United States Congress · 30 April 1980

Amends the Internal Revenue Code, with respect to allowable deductions from a decedent's gross estate of transfers for public, charitable, and religious uses, to extend through December 31, 1980, the period during which governing instruments may be amended to meet the requirements for a gift of a split interest to charity.

Bill· HRH.R. 7211 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide more equitable treatment of royalty owners under the crude oil windfall profit tax.

United States · United States Congress · 29 April 1980

Amends the Internal Revenue Code to exempt a certain portion of royalty owner oil production from the windfall profit tax. Limits the amount so exempted per quarter to ten barrels per day. Requires proportionate allocation of any production in excess of ten barrels per day between tier 1 oil, tier 2, and tier 3 oil, and within any tier on the basis of removal prices. Requires allocation of the ten barrel amount among royalty owners who are members of the same related group.

Bill· HRH.R. 7207 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to eliminate the phase-down of the rate of percentage depletion for independent producers and royalty holders.

United States · United States Congress · 29 April 1980

Amends the Internal Revenue Code to eliminate the phased reduction of the rate of the percentage depletion allowance for independent oil and gas producers and royalty owners (phased-down to 15 percent by 1984) and to retain the 22 percent rate for taxable years ending after 1980.

Bill· HRH.R. 7182 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a refundable credit against income tax for home fuel oil expenses and to provide that the credit shall be funded from receipts from the 10-cent oil import fee imposed by the President.

United States · United States Congress · 29 April 1980

Amends the Internal Revenue Code to allow homeowners a refundable income tax credit equal to 15 percent of home heating oil costs paid or incurred during the taxable year. Limits the amount of such credit to $300 for a taxable year. Reduces the amount of such credit by $1 for each $10 of the excess of the taxpayer's adjusted gross income over $22,000. Establishes in the Treasury of the United States the Oil Import Fee Trust Fund for the deposit of revenues from the oil import fee imposed by the President. Directs that amounts in the Trust Fund shall be made available for funding the credit authorized by this Act.

Bill· HRH.R. 7176 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to make permanent certain rules relating to travel expenses of State legislators.

United States · United States Congress · 28 April 1980

Amends the Internal Revenue Code to allow State legislators an income tax deduction for travel expenses away from home. Limits such deduction to the amount determined by multiplying each legislative day of such individual during the taxable year by the amount generally allowable with respect to such day to State employees for per diem while away from home.

Bill· SS. 2611 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income certain amounts received in connection with the provision of alternative commuter transportation, and for other purposes.

United States · United States Congress · 24 April 1980

Amends the Internal Revenue Code to exclude from the gross income of an employee amounts paid or reimbursed by the employer for the cost of commuting to and from work on public transportation. Excludes, in addition, any services provided, or amounts contributed, by an employer in connection with a ride-sharing program that assists employees in locating and starting car pools. Excludes from gross income any compensation received by a driver in a car pool from other individuals in such car pool.

Bill· SS. 2610 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to increase the investment tax credit for commuter highway vehicles to 20 percent, and for other purposes.

United States · United States Congress · 24 April 1980

Amends the Internal Revenue Code to set the energy percentage for van pool vehicles at ten percent, thus making them eligible for a 20 percent investment tax credit. Excludes from the 80 percent commuting mileage requirement the number of miles the regularly scheduled driver uses such vehicle for personal purposes, if the driver is not the taxpayer.

Law· HRH.R. 7171 (96th)open

A bill to make certain miscellaneous changes in the tax laws.

United States · United States Congress · 24 April 1980

Amends the Internal Revenue Code to: (1) provide that recipients of Federal grants for tuition and related expenses will not be denied a tax exclusion for such grants or expenses merely because they are required to perform future service as a Federal employee as a condition of such grant; (2) grant tax-exempt status upon an annuity contract purchased by the Uniformed Services University of the Health Sciences for any employee who is a member of the civilian faculty or staff of such university; (3) 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; (4) set forth rules for the valuation of certain stock in a transferor railroad subject to a determination of final value by a special court established by the Regional Rail Reorganization Act of 1973, for purposes of consolidated return regulations; (5) restore the availability of certain net operating loss carryovers to railroads in Conrail proceedings; and (6) allow a credit against the excise tax on domestic or imported distilled spirits, wines, and beer for each proof gallon of the wine and flavors content of distilled spirits containing wine. Sets the amount of such credit for wine at the excess of $10.50 over the rate of the additional tax on such wine which would be imposed but for its removal to bonded premises. Specifies the points in time for determining the allowance of such credit for domestic and for imported distilled spirits containing wine.

Bill· HRH.R. 7152 (96th)passed

Intelligence Authorization Act for Fiscal Year 1981

United States · United States Congress · 24 April 1980

Intelligence Authorization Act for Fiscal Year 1981 - Title I: Intelligence Activities - Authorizes appropriations for fiscal year 1981 for the conduct of intelligence and intelligence-related activities in certain departments, agencies and other elements of the United States Government. Authorizes the appropriation of a specified sum for fiscal year 1981 for activities of the Federal Bureau of Investigation to counter terrorism in the United States. Title II: Intelligence Community Staff - Authorizes appropriations for the Intelligence Community Staff for fiscal year 1981. Establishes an end strength ceiling of 245 full-time Intelligence Community Staff employees. Title III: Central Intelligence Agency Retirement and Disability System - Authorizes appropriations for fiscal year 1981 for the Central Intelligence Agency Retirement and Disability Fund. Title IV: General Provisions - Provides for increased authorizations for salary and benefits for Federal employees, should such increases be necessary. Authorizes the Secretary of Defense to pay expenses of arrangements with foreign countries for cryptologic support. Authorizes the Director of the National Security Agency to lease such real property as may be necessary for periods of up to ten years, for the use of the National Security Agency for special cryptologic activities and for housing personnel assigned thereto. Authorizes the Director to pay certain allowances and benefits to civilian and military personnel of the Department of Defense who are assigned to special cryptologic activities outside the United States. Authorizes the Director to provide travel, transportation, and subsistence allowances and other benefits to certain personnel assigned to training overseas for one year or longer. Directs the Administrator of General Services, upon request from the Director of the National Security Agency, to detail special policemen to provide protection for installations and grounds used by or under control of the Agency. Authorizes the payment of a gratuity to specified relatives or dependents of an officer or employer of the CIA or Department of Defense who dies in the performance of duties involving clandestine intelligence activities.

Bill· HRH.R. 7170 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow estates required to file estate tax returns before July 13, 1978, to elect the valuation of certain farm, etc., real property under section 2032A of such Code within 90 days after final regulations are adopted under such section.

United States · United States Congress · 24 April 1980

Amends the Internal Revenue Code to allow estates required to file estate tax returns before July 13, 1978, to elect the valuation of certain farm and other real property within 90 days after the later of: (1) the date of the enactment of this Act; or (2) the earliest date on which all necessary relevant regulations become final. Defines a "necessary regulation" as a regulation necessary in order for the executor to make a reasoned evaluation of whether or not to make such an election. Applies the provisions of this Act to estates of decedents dying after December 31, 1976.

Law· SS. 2597 (96th)open

An act to authorize appropriations for fiscal year 1981 for the intelligence and intelligence-related activities of the United States Government, for the Intelligence Community Staff, and for the Central Intelligence Agency Retirement and Disability System, and for other purposes.

United States · United States Congress · 23 April 1980

Intelligence Authorization Act for Fiscal Year 1981 - Title I: Intelligence Activities - Authorizes appropriations for fiscal year 1981 for the conduct of intelligence and intelligence-related activities in specified departments and agencies of the United States Government. Title II: Intelligence Community Staff - Authorizes appropriations for the Intelligence Community Staff for fiscal year 1981. Establishes an end strength ceiling of 245 full-time Intelligence Community Staff employees. Title III: Central Intelligence Agency Retirement and Disability System - Authorizes appropriations for fiscal year 1981 for the Central Intelligence Agency Retirement and Disability Fund. Title IV: General Provisions - Provides for increased authorizations for salary and benefits for Federal employees, should such increases be necessary. Authorizes the Director of the Central Intelligence Agency to accept, hold, administer, and utilize for artistic or general employee or dependent welfare, educational, or like purposes, gifts, bequests, or devises of money, securities, or other property of whatsoever character that would be in the interest of the United States. Prohibits the acceptance of a gift which is expressly conditioned upon any expenditure not to be met therefrom or from income thereof unless such expenditure has been approved by an Act of Congress. Establishes the Central Intelligence Agency General Gift Fund. Permits funds made available to the Department of Defense for intelligence and communications purposes to be used to pay expenses of arrangements with foreign countries for cryptologic support. Authorizes the use of National Security Agency Funds, with respect to a special limited class of its civilian and military personnel assigned outside the United States, to provide allowances and other benefits comparable to those authorized for officers and employees of the Foreign Service. Authorizes the Director of the National Security Agency to: (1) rent or lease, for periods not to exceed ten years, buildings and grounds outside the United States for the use of the Agency; and (2) use such buildings and grounds to furnish personnel of such Agency with living quarters, heat, light, and household equipment, without cost to such personnel. Authorizes the Director of the Agency to provide travel, transportation, and subsistence allowances and other benefits to personnel assigned to training overseas for one year or longer. Directs the Administrator of General Services, upon request from the Director of the National Security Agency, to detail special policemen to provide protection for installations and grounds used by or under control of the Agency. Authorizes the payment of a gratuity to specified relatives or dependents of an officer or employee of the CIA or NSA, who dies as a result of hostile or terrorist activities or whose death occurred in connection with an intelligence activity having a substantial element of risk.

Bill· HRH.R. 7149 (96th)referred

A bill to amend Public Law 95-427 to permit certain State police officers to file a claim for credit or refund of Federal income tax with respect to certain subsistence allowances, without regard to whether the allowance was included in gross income.

United States · United States Congress · 23 April 1980

Extends from January 1, 1977, to January 1, 1978, the income tax exclusion for subsistence allowances paid to State police officers. Allows until one year after the date of enactment of this Act a period for applying for any refund or credit for overpayment of taxes for years after 1977, which was prevented by law or rule of law during such time.

Bill· SS. 2591 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from gross income of certain amounts attributable to inflation.

United States · United States Congress · 22 April 1980

Amends the Internal Revenue Code to allow a tax deduction for the inflation adjustment amount of all the earned interest and all the increase in the personal service income of a taxpayer which does not exceed the percentage change in the Consumer Price Index for the taxable year. Includes among deductible amounts interest on savings accounts, corporate indebtedness, and government bonds.

Law· HRH.R. 7112 (96th)open

State and Local Fiscal Assistance Act Amendments of 1980

United States · United States Congress · 22 April 1980

Local Government Fiscal Assistance Amendments of 1980 - Amends the State and Local Fiscal Assistance Act to delete provisions for State assistance. Prohibits adjustments in payments to local governments prior to October 1, 1980, on the basis of revisions to 1970 census-based population and income estimates as a result of 1980 census data. Authorizes appropriations to the Local Government Fiscal Assistance Trust Funds for entitlement periods beginning October 1, 1980, and ending September 30, 1985. Sets forth formulas for allocating payments to the States for allocation to local governmental units. Provides for a transitional allocation to the States for allocation to local governmental units for fiscal years 1981 and 1982 based upon amounts transferred by a State to local governmental units, but excluding State educational aid. Sets forth formulas for allocating amounts allocated to the States among local governmental units, Indian tribes, and Alaskan native villages. Provides restrictions on and adjustments of local entitlements. Directs the Bureau of the Census to develop population estimates for Indian tribes and Alaskan native villages to be used in making allocations. Revises provisions concerning the general tax effort of local governmental units which effects the local allocation by: (1) reducing the general tax efforts of local governmental units with per capita income in excess of State per capita income; (2) providing a procedure for determining education taxes; and (3) reducing the adjusted taxes of local governmental units in specified circumstances. Repeals provisions requiring State and local recipients of funds to report to the Secretary of the Treasury and requiring the Secretary to submit local reports to the State governor. Requires independent audits of State and local recipients at least once every two years (currently once every three years). Authorizes the Secretary to waive such requirement in specified circumstances. States that the District of Columbia should be treated as both a county area and the sole unit of local government (currently treated as having no units of local government). Repeals the provision concerning a study of revenue sharing and federalism. Requires an assessment of the fiscal impact on State and local governments of the entitlement payments made under the local Government Fiscal Assistance Act of 1980.

Bill· HRH.R. 7115 (96th)passed

National Science Foundation Authorization Act for Fiscal Year 1981

United States · United States Congress · 22 April 1980

National Science Foundation Authorization Act for Fiscal Year 1981 - Authorizes appropriations for the National Science Foundation for fiscal year 1981. Makes funds authorized for 1981 available for: (1) mathematical and physical sciences; (2) astronomical, atmospheric, earth and ocean sciences; (3) United States Antarctic Program; (4) biological, behavioral, and social sciences; (5) Ocean Drilling Programs; (6) Science Education Programs; (7) engineering and applied science; (8) scientific, technological, and international affairs; (9) Cross-Directorate Programs; and (10) program development and management. Establishes minimum amounts to be spent for specified programs, including Earthquake Hazards Mitigation, the Small Business Innovation Program, Research and Development in Appropriate Technology, Science Facility Improvement Programs, Science Education Programs relating to Appropriate Technology, and for salaries of faculty members at institutions of higher education with limited programs in science and engineering. Establishes spending ceilings for specified programs, including the Ocean Margin Drilling Project and United States/Union of Soviet Socialist Republics cooperative research. Requires the Foundation to prepare and submit to Congress a report on the Ocean Margin Drilling Project. Requires the National Academy of Sciences to study and report on marine earth sciences research. Limits the amount which may be used for official consultation or representation at the discretion of the Director of the National Science Foundation and for the expenses of the National Science Foundation incurred outside the United States. Permits the transfer of funds from one category to another as specified. Requires the foundation to consolidate all Directors. Requires the Director of the Foundation, with the Secretary of Education, to develop and transmit to Congress a proposed joint science education program plan. Eliminates the Civil Service Commission clearance of personnel with access to specified information or property requirement. Makes individuals who make outstanding contributions in the behavioral or social sciences eligible to receive a National Medal of Science. Directs the President to develop and report to Congress a comprehensive national policy respecting women and minorities in science and technology. Requires the Director to require that all Foundation grants contain a brief statement of the purpose of the research being undertaken.

Bill· HRH.R. 7113 (96th)passed

National Bureau of Standards Authorization Act for Fiscal Year 1981

United States · United States Congress · 22 April 1980

National Bureau of Standards Authorization Act for Fiscal Year 1981 - Authorizes appropriations to carry out the activities of the National Bureau of Standards for fiscal year 1981. Sets forth minimum amounts to be spent on specified programs, including the Environmental Measurement Program, Earthquake Hazards Engineering, Measurement Standards for the Handicapped, the Automated Manufacturing Research Facility, and for Transfer to Working Capital Fund. Establishes a spending ceiling for expenses of the Bureau incurred outside the United States. Authorizes additional appropriations to carry out the activities performed by the National Technical Information Service for fiscal year 1981, for research, development, and related activities in the field of innovation and productivity, and for adjustments in salary and employee benefits. Sets forth a formula for the apportionment of appropriated funds. Permits the transfer of funds among the line items according to a specified formula and procedure. Directs the Director of the Bureau to charge other agencies for any services performed by the Bureau at such agency's request or as required by law. Increases the ceiling on the amount the Bureau may spend for facilities improvement. Authorizes the Director to expend funds to defray the expenses of foreign nationals not in service to the Federal government while they are performing scientific or engineering work at the National Bureau of Standards or participating in the exchange of scientific or technical information at the Bureau. Authorizes employees of the Bureau to participate in foreign exchanges offered by a foreign government for the performance of scientific or engineering activities or the exchange of information if to do so would be in the interests of the United States. Repeals the provision relating to a limited authorization of appropriations for fiscal years 1979 and 1980.

Bill· HRH.R. 7117 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from taxation interest earned on obligations substantially all of the proceeds of which are used to provide financing for railroad rehabilitation.

United States · United States Congress · 22 April 1980

Amends the Internal Revenue Code to exclude from gross income interest earned on industrial development bonds, substantially all of the proceeds of which are used to provide financing for railroad rehabilitation. Includes in such rehabilitation: (1) the acquisition, construction, reconstruction, or erection of any roadbed, track, trestle, depot, switching and signaling equipment, but not rolling stock; or (2) the acquisition of land or rights- of-way.

Bill· HRH.R. 7108 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide individuals a credit against income tax for amounts paid or incurred by the taxpayer for alterations to his principal residence in order to make such residence more suitable for handicapped family members.

United States · United States Congress · 22 April 1980

Amends the Internal Revenue Code to allow homeowners a nonrefundable income tax credit for 50 percent of the expenses paid or incurred to make alterations to their residences for the purpose of making such residences more accessible to, and usable by, a handicapped individual who is either the taxpayer, his spouse, or a dependent of the taxpayer. Limits the amount of such credit, for each such handicapped individual, to the lesser of $1,000 or an amount which, when added to previous year's credits, does not exceed $5,000. Reduces the amount of such credit by one-half of the amount by which the adjusted gross income of the taxpayer exceeds $20,000 ($35,000 in the case of married individuals filing jointly). Defines "handicapped individual" as any individual who has a medically identifiable mental or physical impairment which can be expected to result in death or which can be expected to last for a continuous period of at least 12 months, and which substantially limits one or more of the major life activities of such individual. Requires the handicapped individual to live in the principal residence for which the alterations are made for not less than a nine month period during the taxable year.

Bill· HRH.R. 7127 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide more equitable treatment of royalty owners under the crude oil windfall profit tax.

United States · United States Congress · 22 April 1980

Amends the Internal Revenue Code to exempt a certain portion of royalty owner oil production from the windfall profit tax. Limits the amount so exempted per quarter to ten barrels per day. Requires proportionate allocation of any production in excess of ten barrels per day between tier 1 oil, tier 2, and tier 3 oil, and within any tier on the basis of removal prices. Requires allocation of the ten barrel amount among royalty owners who are members of the same related group.

Bill· SS. 2586 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for repayment of the oil import fee in the case of certain uses of gasoline.

United States · United States Congress · 21 April 1980

Amends the Internal Revenue Code to provide for a repayment of the oil import fee equal to ten cents per gallon of gasoline used for certain exempt purposes. Defines "exempt use" as: (1) any use by a State or local government; (2) any use by a nonprofit educational institution; (3) any use as supplies for vessels or aircraft; (4) agricultural uses; (5) certain business uses; and (6) use in connection with intercity, local, or school buses.

Bill· HRH.R. 7101 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that motion picture films and video tapes which are produced for sale or rent as training films are to be treated as educational films for purposes of the investment credit.

United States · United States Congress · 21 April 1980

Amends the Internal Revenue Code to qualify training films and tapes produced primarily for sale, rent, or license to industrial and commercial organizations for the investment tax credit.

Resolution· HRESH.Res. 642 (96th)passed

A resolution providing for the consideration of the concurrent resolution H. Con. Res. 307 setting forth the congressional budget for the United States Government for the fiscal years 1981, 1982, and 1983 and revising the congressional budget for the United States Government for the fiscal year 1980.

United States · United States Congress · 21 April 1980

Sets forth the rule for the consideration of H.Con.Res. 307 (Congressional budgets, fiscal years 1981-1983, and revised budget, fiscal year 1980).

Bill· HRH.R. 7093 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to increase the annual gift tax exclusion and to clarify the gift tax treatment of certain transfers for consumption.

United States · United States Congress · 17 April 1980

Amends the Internal Revenue Code, with respect to the gift tax, to: (1) increase the annual gift tax exclusion from $3,000 to $10,000; and (2) declare that certain transfers for consumption shall not be treated as a transfer of property by gift for tax purposes. Defines "qualified transfer for consumption" as any transfer to a child of the transferor under the age of 21, or any other resident of the transferor's household, to pay current educational, medical, dental, food, clothing, or maintenance of living accommodations costs. Prohibits the transferee from acquiring any property which will retain significant value after one year from such transfer.

Bill· SS. 2574 (96th)open

State and Local Fiscal Assistance Act Amendments of 1980

United States · United States Congress · 16 April 1980

Local Government Fiscal Assistance Amendments of 1980 - Amends the State and Local Fiscal Assistance Act to delete provisions for State assistance. Prohibits adjustments in payments to local governments prior to October 1, 1980, on the basis of revisions to 1970 census-based population and income estimates as a result of 1980 census data. Authorizes appropriations to the Local Government Fiscal Assistance Trust Funds for entitlement periods beginning October 1, 1980, and ending September 30, 1985. Sets forth formulas for allocating payments to the States for allocation to local governmental units. Provides for a transitional allocation to the States for allocation to local governmental units for fiscal years 1981 and 1982 based upon amounts transferred by a State to local governmental units, but excluding State educational aid. Sets forth formulas for allocating amounts allocated to the States among local governmental units, Indian tribes, and Alaskan native villages. Provides restrictions on and adjustments of local entitlements. Directs the Bureau of the Census to develop population estimates for Indian tribes and Alaskan native villages to be used in making allocations. Revises provisions concerning the general tax efforts of local governmental units which affect the local allocation by: (1) reducing the general tax efforts of local government units with per capita income in excess of State per capita income; (2) providing a procedure for determining education taxes; and (3) reducing the adjusted taxes of local governmental units in specified circumstances. Repeals provisions requiring State and local recipients of funds to report to the Secretary of the Treasury and requiring the Secretary to submit local reports to the State governor. Requires independent audits of State and local recipients at least once every two years (currently once every three years). Authorizes the Secretary to waive such requirement in specified circumstances. States that the District of Columbia should be treated as both a county area and the sole unit of local government (currently treated as having no units of local government). Repeals the provision concerning a study of revenue sharing and federalism. Requires an assessment of the fiscal impact on State and local governments of the entitlement payments made under the local Government Fiscal Assistance Act of 1980.

Bill· HRH.R. 7077 (96th)referred

A bill to amend the State and Local Fiscal Assistance Act of 1972 and the Internal Revenue Code of 1954 to replace the General Revenue Sharing Program with individual income tax credits for State and local taxes.

United States · United States Congress · 16 April 1980

Title I: Amendments to the State and Local Fiscal Assistance Act of 1972 - Amends the State and Local Fiscal Assistance Act of 1972 t authorize appropriations to the State and Local Government Fiscal Assistance Trust Fund for fiscal years 1981, 1982, and 1983. Title II: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit equal to 23 percent of the State and local, and foreign, real property taxes, State and local personal property taxes, State and local, and foreign, income taxes, and State and local general sales taxes paid by such individuals during the taxable year. Repeals the current income tax deduction allowed for payments of State and local taxes.

Bill· HRH.R. 7074 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income compensation received by Federal employees while being held hostage in a foreign country.

United States · United States Congress · 16 April 1980

Amends the Internal Revenue Code to exclude from gross income compensation received by members of the Armed Forces of the United States and Federal employees while held hostage in a foreign country. Specifies that such detention must be in connection with a serious international incident which the President designates as such by Executive Order. Disqualifies individuals who are officially determined to be absent from their post of duty without authority.

Bill· HRH.R. 7066 (96th)referred

A bill relating to the limitation of obligations for Federal-aid highways and highway safety construction during certain fiscal years.

United States · United States Congress · 16 April 1980

Prohibits the Secretary of Transportation, whenever the total of all obligations for Federal-aid highways and highway safety construction programs is limited by operation of law to a fixed amount for a fiscal year, from controlling: (1) the rate of obligation of such limitation; and (2) programs or projects eligible for Federal financial assistance from such funds. Allows the Secretary, under certain conditions, to control the obligation of such limitation by allocation according to specified formulae for fiscal years 1980, 1981, and beyond.

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