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501 records in US in 1982
United States · United States Congress · 31 March 1982
Imposes on any individual or corporation a ten percent tax on the amount by which the taxpayer's net income exceeds $50,000 ($100,000 for joint returns).
United States · United States Congress · 31 March 1982
Enterprise Zone Tax Act of 1982 - Title I: Designation of Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of enterprise zones by the Secretary of Housing and Urban Development for purposes of extending the tax incentives and regulatory flexibility measures provided by this Act. Specifies that State and local governments shall nominate areas for such designation. Limits the designation of enterprise zones to 25 nominated areas per year. Limits the period during which such designation shall remain in effect. Specifies that the Secretary may designate such zones only if: (1) the area is within the jurisdiction of the local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area (with a population of at least 50,000) or 2,500 otherwise, or is within an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action which may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, or receiving commitments of private entities to assist employees and residents of the area. Terminates the authority of the Secretary to designate enterprise zones on December 31, 1985. Describes areas to which preference shall be given in deciding to designate enterprise zones. Requires that any property tax reduction effected by a local government under the terms of this Act be disregarded for purposes of determining the eligibility of a State or local government for Federal assistance or benefits. States that designation of an enterprise zone shall not give displaced persons from such an area any rights or benefits under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970. Title II: Federal Income Tax Incentives - Subtitle A - Credits for Employers and Employees - Amends the Internal Revenue Code to allow employers a nonrefundable income tax credit for ten percent of the increase in payroll for all employees, taking into account a maximum of $15,000 in wages per employee. Allows such credit only for wages paid to employees who perform 90 percent of their services in work directly related to the conduct of the taxpayers' business located in the enterprise zone and who perform 50 percent of their services within such zone. Phases out such credit in the last three years of the enterprise zone designation. Allows a nonrefundable income tax credit for employers equal to 50 percent of the wages paid to certain disadvantaged workers for the first three years of the enterprise zone designation. Phases out such credit by ten percent a year beginning in the fourth year after such designation. Requires a recapture of such credit for the early termination of such employees. Disallows a deduction for the portion of wages or salaries subject to such credit. Requires employers to furnish to each employee a written statement showing the amount of wages paid to such employee. Provides an income tax credit for enterprise zone employees equal to five percent of the first $9,000 of wages received each year. Phases out such credit in the last four years of the enterprise zone designation. Subtitle B: Credits for Investment in Tangible Property in Enterprise Zones - Allows businesses an additional investment tax credit for certain tangible property located in enterprise zones. Limits such credit to five percent for zone personal property and ten percent for new zone construction property, including rental property. Requires that the property subject to such credit be predominantly used in the zone, be purchased after zone designation, and not be acquired from relatives or related corporations. Requires the recapture of such credit upon early disposition of the property. Subtitle C: Reduction in Capital Gain Tax Rates - Eliminates the capital gains tax on property of corporations acquired after the enterprise zone designation and used in a zone business. Qualifies certain low-income rental housing located in an enterprise zone for such treatment. Permits property to remain qualified for purposes of the revised capital gains treatment after a designation of an enterprise zone has terminated. Exempts gain from the sale or exchange of property used in a business in an enterprise zone from the computation of the minimum tax. Expresses the sense of Congress that if the minimum tax is modified, enterprise zone capital gain will be excluded in computing minimum taxable income. Subtitle D: Extension of Carryover Periods - Extends the net operating loss and investment tax credit carryover period to the longer of 15 years or the duration of the enterprise zone designation for businesses operating in such zones. Subtitle E: Rules Relating to Industrial Development Bonds - Provides that rules relating to small issue tax-exempt industrial development bonds now in effect shall apply to bonds used to finance land or other depreciable property located in an enterprise zone, even if such rules are subsequently changed. Subtitle F: Sense of the Congress With Respect to Tax Simplification - Expresses the sense of the Congress that the Internal Revenue Service should simplify the administration and enforcement of any provision of the Internal Revenue Code affected by this Act. Title III: Regulatory Flexibility - Revises the definition of "small entity" for purposes of the analysis of regulatory functions, to include qualified businesses (as defined in Title II of this Act), designating governments, and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by designating governments, to waive or modify rules and regulations which pertain to the carrying out of projects or activities within an enterprise zone. Requires agencies to approve such request if the resulting benefits of job creation, community development, or economic revitalization outweigh the public interest in continuation of the rule unchanged. Disallows the waiver or modification of a rule that would directly violate a statutory requirement (including the Davis-Bacon Act and the Fair Labor Standards Act) or which would present a danger to the public health and safety. Provides that such waivers or modifications of a rule shall remain in effect as long as the zone designations. Amends the Department of Housing and Urban Development Act to direct the Secretary of Housing and Urban Development to promote the coordination of all enterprise zone programs and consolidate all periodic reports required under such programs into one summary report. Title IV: Establishment of Foreign Trade Zones in Enterprise Zones - Requires the Foreign-Trade Zone Board to consider on a priority basis and expedite the processing of applications for the establishment of foreign-trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to and expedite applications for the establishment of ports of entry necessary to establish such zones. States that to the maximum extent practicable foreign-trade zones should be established within enterprise zones.
United States · United States Congress · 31 March 1982
Domestic Research and Development Tax Incentive Act - Amends the Internal Revenue Code to treat amounts allowed as deductions for research and experimental expenditures attributable to activities conducted in the United States as allocable to income from sources within the United States and deductible from such income.
United States · United States Congress · 30 March 1982
Enterprise Zone Tax Act of 1982 - Title I: Designation of Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of enterprise zones by the Secretary of Housing and Urban Development for purposes of extending the tax incentives and regulatory flexibility measures provided by this Act. Specifies that State and local governments shall nominate areas for such designation. Limits the designation of enterprise zones to 25 nominated areas per year. Limits the period during which such designations shall remain in effect. Specifies that the Secretary may designate such zones only if: (1) the area is within the jurisdiction of the local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area (with a population of at least 50,000) or 2,500 otherwise, or is within an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action which may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, or receiving commitments of private entities to assist employees and residents of the area. Terminates the authority of the Secretary to designate enterprise zones on December 31, 1985 or three years after publication of regulations pertaining to such zones, whichever is later. Describes areas to which preference shall be given in deciding to designate enterprise zones. Requires that any property tax reduction effected by a local government under the terms of this Act be disregarded for purposes of determining the eligibility of a State or local government for Federal assistance or benefits. States that designation of an enterprise zone shall not give displaced persons from such an area any rights or benefits under the Uniform Relocation Assistance and Real Property Acquisitions Policies Act of 1970. Title II: Federal Income Tax Incentives Subtitle A - Credits for Employers and Employees - Amends the Internal Revenue Code to allow employers a nonrefundable income tax credit for ten percent of the increase in payroll for all employees, taking into account a maximum of $15,000 in wages per employee. Allows such credit only for wages paid to employees who perform 90 percent of their services in work directly related to the conduct of the taxpayers' business located in the enterprise zone and who perform 50 percent of their services within such zone. Phases out such credit in the last three years of the enterprise zone designation. Allows a nonrefundable income tax credit for employers equal to 50 percent of the wages paid to certain disadvantaged workers for the first three years of the enterprise zone designation. Phases out such credit by ten percent a year beginning in the forth year after such designation. Requires a recapture of such credit for the early termination of such employees. Disallows a deduction for the portion of wages or salaries subject to such credit. Requires employers to furnish to each employee a written statement showing the amount of wages paid to such employee. Provides an income tax credit for enterprise zone employees equal to five percent of the first $9,000 of wages received each year. Phases out such credit in the last four years of the enterprise zone designation. Subtitle B: Credits for Investment in Tangible Property in Enterprise Zones - Allows businesses an additional investment tax credit for certain tangible property located in enterprise zones. Limits such credit to five percent for zone personal property and ten percent for new zone construction property, including rental property. Requires that the property subject to such credit be predominantly used in the zone, be purchased after zone designation, and not be acquired from relatives or related corporations. Requires the recapture of such credit upon early disposition of the property. Subtitle C: Reduction in Capital Grain Tax Rates - Eliminates the capital gains tax on property of corporations acquired after the enterprise zone designation and used in a zone business. Qualifies certain low-income rental housing located in an enterprise zone for such treatment. Permits property to remain qualified for purposes of the revised capital gains treatment after a designation of an enterprise zone has terminated. Exempts gain from the sale or expenses of property used in a business in an enterprise zone from the computation of the minimum tax. Expresses the sense of Congress that if the minimum tax is modified, enterprise zone capital gain will be excluded in computing minimum taxable income. Subtitle D: Extension of Carryover Periods - Extends the net operating loss and investment tax credit carryover period to the longer of 15 years or the duration of the enterprise zone designation for businesses operating in such zones. Subtitle E: Rules Relating to Industrial Development Bonds - Provides that rules relating to small issue tax-exempt industrial development bonds now in effect shall apply to bonds used to finance land or other depreciable property located in an enterprise zone, even if such rules are subsequently changed. Subtitle F: Sense of the Congress With Respect to Tax Simplification - Expresses the sense of the Congress that the Internal Revenue Service should simplify the administration and enforcement of any provision of the Internal Revenue Code affected by this Act. Title III: Regulatory Flexibility - Revises the definition of "small entity" for purposes of the analysis of regulatory functions, to include qualified businesses (as defined in Title II of this Act), designating governments, and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by a designating government, to waive or modify rules and regulations which pertain to the carrying out of projects or activities within an enterprise zone. Requires agencies to approve such request if the resulting benefits of job creation, community development or economic revitalization outweigh the public interest in continuation of the rule unchanged. Disallows waiver or modification of a rule that would directly violate a statutory requirement (including the Davis-Bacon Act and Fair Labor Standards Act) or which would present a danger to the public health and safety. Provides that such waivers or modifications of rule shall remain in effect as long as the zone designations. Amends the Department of Housing and Urban Development Act to direct the Secretary of Housing and Urban Development to promote the coordination of all enterprise zone programs and consolidate all periodic reports required under such programs into one summary report. Title IV: Establishment of Foreign Trade Zones in Enterprise Zones - Requires the Foreign-Trade Zone Board to consider on a priority basis and expedite the processing of applications for the establishment of foreign-trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to and expedite applications for the establishment of parts of entry necessary to establish such zones. States that to the maximum extent practicable foreign-trade zones should be established within enterprise zones.
United States · United States Congress · 30 March 1982
Amends the Internal Revenue Code to extend to taxpayers who engage in barter exchanges the right to notice and a court hearing before third-party records must be surrendered to the Internal Revenue Service in a tax investigation.
United States · United States Congress · 30 March 1982
Amends the Internal Revenue Code to allow an investment tax credit for depreciable property used by hospitals owned or operated by governmental units.
United States · United States Congress · 30 March 1982
Amends the Endangered Species Act of 1973 to authorize appropriations to the Department of Commerce for FY 1983 and 1984 to carry out such Act.
United States · United States Congress · 30 March 1982
Amends the Internal Revenue Code to reduce the income tax rate on Virgin Islands source income and provide for corresponding reductions in tax withholding. Provides for a per country limitation on the foreign tax credit with respect to taxes paid or deemed paid to the Virgin Islands.
United States · United States Congress · 30 March 1982
Railroad Cost Recovery and Retirement Fund Act of 1982 - Title I: Tax on Fuel Used In Freight Transportation by Railroad - Imposes a tax on any liquid used as a fuel during any calendar quarter in the transportation of freight by railroad. Increases the rate of such tax by specified increments through fiscal year 1985. Earmarks the proceeds of such tax for use in financing any deficit which would otherwise occur in the Railroad Retirement Fund. Title II: Study of Aids to Railroads - Requires the Secretary of Transportation and the Secretary of the Treasury to undertake a study to identify and quantify all forms of Federal financial aid or assistance to railroads engaged in the transportation of freight. Authorizes appropriations.
United States · United States Congress · 30 March 1982
National Science Foundation Authorization Act for Fiscal Years 1982 and 1983 - Title I: Authorization of Funds for Fiscal Year 1982 - Authorizes appropriations for the National Science Foundation for FY 1982 for the following categories: (1) mathematical and physical sciences; (2) engineering; (3) biological, behavioral, and social sciences; (4) astronomical, atmospheric, earth, and ocean sciences; (5) ocean drilling programs; (6) U.S. Antarctic Program; (7) scientific, technological, and international affairs; (8) cross- directorate programs; (9) program development and management; (10) science and engineering education; and (11) modernization of research equipment and facilities. Limits the amount of authorizations which may be expended for consultation and for expenses of the Foundation incurred outside the United States. Title II: Authorization of Funds for Fiscal Year 1983 - Authorizes appropriations for FY 1983 for the following categories: (1) mathematical and physical sciences; (2) engineering; (3) biological, behavioral, and social sciences; (4) astronomical, atmospheric, earth, and ocean sciences; (5) ocean drilling programs; (6) U.S. Antarctic Program; (7) scientific, technological, and international affairs; (8) program development and management; and (9) science and engineering education. Specifies amounts for research to aid the handicapped, the National Research Opportunity Grant Program, and research instrumentation. Prohibits the use of funds for U.S. support of the International Institute for Applied Systems Analysis in Vienna, Austria if the President determines that participation is contrary to national security interests. Limits the amount of authorizations which may be expended for consultation and for expenses of the Foundation incurred outside the United States. Title III: Availability of Funds and Other Functions - Requires the ratio of individual program appropriations to total appropriations be the same as the ratio of individual program authorizations to total authorizations. Permits the transfer of funds among categories exceeding ten percent of the authorized amount of a category if the chairmen of the House Committee on Science and Technology and the Senate Committee on Labor and Human Resources each write the Director of the Foundation that there is no objection to the transfer or 30 days have passed after such committees were notified of the proposed transfer. Repeals the requirement that the Director establish a Resource Center for Science and Engineering at an educational institution enrolling a substantial number of minority and/or low-income students. Title IV: Directorate for Science and Engineering Education - Names the Directorate for Science and Engineering Education as a permanent organizational entity of the Foundation. Requires that the appropriate committees of Congress be given 30 days notice of any proposed changes in the functions or organization of the Directorate.
United States · United States Congress · 30 March 1982
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 $400 ($200 in the case of a married individual filing a separate return) for a taxable year. Defines a "security device" as a lock, alarm, or other device which is installed in a taxpayer's principal residence for the purpose of securing such residence. Provides special rules for condominium owners and tenant-stockholders in a cooperative housing corporation.
United States · United States Congress · 30 March 1982
Amends the Internal Revenue Code to require the Secretary of the Treasury to make reasonable efforts to locate persons to whom unclaimed tax refunds are owed. Allows unpaid tax refunds to be transferred after one year to the State in which taxpayer last resided and requires the State to take reasonable efforts to locate such individual.
United States · United States Congress · 30 March 1982
Sets forth the rule for the consideration of H.R. 5922 (Supplemental appropriations).
United States · United States Congress · 29 March 1982
Amends the International Communication Agency Authorization Act, Fiscal Years 1982 and 1983, to authorize additional appropriations for FY 1983 for the International Communication Agency (ICA). Amends the United States Information and Educational Exchange Act of 1948 to authorize the Director of the ICA to employ aliens as translators when equally or better qualified U.S. citizens are not available. (Current law authorizes employing aliens when suitably qualified U.S. citizens are not available.) Allows the ICA to credit to its appropriations the fees received in connection with its English-teaching programs.
United States · United States Congress · 29 March 1982
Amends the Internal Revenue Code to exclude grom gross income amounts received by certain law enforcement officers as statutory or negotiated subsistence allowances. Limits such exclusion to $5 per day.
United States · United States Congress · 25 March 1982
Technology Education Act of 1982 - Amends the Internal Revenue Code to increase for one year the maximum allowable charitable contribution income tax deduction for corporations which donate computers to primary and secondary schools. Increases the income tax deduction from 10 to 30 percent of a corporation's taxable income.
United States · United States Congress · 25 March 1982
National Security Programs Authorization Act for Fiscal Years 1983 and 1984 - Title I: National Security Programs - Authorizes appropriations for fiscal year 1983 to the Department of Energy for operating expenses incurred in carrying out national security programs, including scientific research and development, strategic and critical materials necessary for common defense, military applications of nuclear energy, and additional authorizations for specific projects. Title II: General Provisions - Prohibits the use of funds authorized under this Act, without notice to Congress, where the costs of the program exceed 105 percent of the program authorization or the costs exceed by more than $10,000,000 the amount authorized by this Act, whichever if the lesser. Prohibits the use of funds authorized by this Act, without notice to Congress; for programs which have not been presented to, or requested of, Congress. Allows such expenditures after 30 calendar days have elapsed following the Secretary of Energy's presentation to all the appropriate congressional committees of a full and complete statement of the action proposed. Allows the written waiver of such requirement where such waiver is approved in writing by each appropriate committee of Conggress. Authorizes the Secretary to start any general plant project only if the maximum estimated cost of such project does not exceed $1,200,000. Sets forth procedures for approval of construction projects that exceed by more than 25 percent the estimated cost. Exemmpts from such procedures any project which has an estimated cost of less than $5,000,000. Allows the transfer of funds from specified projects to other Government agencies for the performance of work for which the appropriation is made. Authorizes the Secretary to perform construction design services for construction projects in support of national security programs as appropriated under this Act. Directs the Secretary to notify the appropriate committees of Congress in writing of specific cost overruns. Title III: Authorization of Appropriations for Fiscal Year 1984 - Authorizes the appropriation of funds for FY 1984 to the Department of Energy for programs set forth in this Act. Authorizes appropriations for the Department of Energy for national security programs for FY 1983 and FY 1984.
United States · United States Congress · 25 March 1982
Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements for tax-exempt bonds to increase the amount by which interest rates on such bonds may exceed the interest rates on mortgages financed with such bonds. Increases the amount by which the acquisition cost of bond-financed residences may exceed the average area purchase price of other homes in the same statistical area. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action.
United States · United States Congress · 25 March 1982
Amends the Internal Revenue Code to repeal the provision allowing an income tax deduction without substantiation for living expenses of Members of Congress. Reinstates the $3,000 limit on such deduction.
United States · United States Congress · 25 March 1982
Rescinds any legislation enacted after December 31, 1980, granting Members of Congress an income tax deduction for living expenses.
United States · United States Congress · 25 March 1982
Mortgage Interest Rate Reduction Act of 1982 - Amends the Internal Revenue Code to exclude from the gross income of qualified lenders 25 percent of the interest received on certain mortgage loans. Requires that the effective rate of interest on such financing not exceed 90 percent of the prevailing conventional mortgage rate. Specifies that such exclusion is not limited to the lender who originated the loan. Provides that for purposes of the bad debt deduction for commercial banks, qualified mortgage loans shall be included in computing the percentage of outstanding loans.
United States · United States Congress · 25 March 1982
Amends the Internal Revenue Code to make the income tax credit for household and dependent care services refundable. Provides an additional investment tax credit for dependent care center property.
United States · United States Congress · 25 March 1982
Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Increases the amount by which the acquisition cost of a residence financed with such bonds may exceed the average area purchase price. Revises residency requirements for mortgagors. Allows first-time home buyers a nonrefundable income tax credit for nine percent of the purchase price of a principal residence, up to $5,400. Requires a recapture of such credit if the taxpayer disposes of the property within three years of the purchase. Allows a three-year carryback of such credit. Limits such credit to the purchases of a residence between March 26 and December 31, 1982.
United States · United States Congress · 25 March 1982
Expresses the sense of the House of Representatives that changes to the Railroad Retirement Act of 1974 proposed in the FY 1983 budget should not be implemented.
United States · United States Congress · 24 March 1982
National Bureau of Standards Authorization Act for Fiscal Year 1983 - Authorizes appropriations for the activities of the National Bureau of Standards for FY 1983, including: (1) measurement research and standards; (2) engineering measurements and standards; (3) center technical support; (4) computer science and technology; (5) the National Technical Information Service; and (6) salary adjustments.
United States · United States Congress · 24 March 1982
Emergency Home Purchase Assistance Act of 1982 - Amends the Internal Revenue Code to allow first-time home buyers an income tax credit equal to nine percent of the purchase price of a principal residence. Limits the dollar amount of such credit to $5,400. Provides a three year carryback of excess credit amounts. Specifies that such credit shall be available with respect to only one residence of the taxpayer. Requires the recapture of credit amounts for the purchase of a principal residence if such residence is sold within 36 months after the date of acquisition. Repeals the provision allowing all-savers tax-exempt certificates, effective March 31, 1982. Revises requirements for mortgage subsidy bonds.
United States · United States Congress · 24 March 1982
Excludes from gross income amounts paid to certain individuals by the U.S. Government for rent of a residence in the Panama Canal Zone before October 1, 1979.
United States · United States Congress · 24 March 1982
Amends the Internal Revenue Code to authorize the Secretary of the Treasury to prescribe regulations exempting retirees or individuals over age 65 from interest penalties with respect to any underpayment of estimated tax. Requires that such underpayment be due to reasonable cause (defined to include mistake or ignorance of the law) and not to willful neglect.
United States · United States Congress · 24 March 1982
Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements for tax-exempt bonds to increase the amount by which interest rates on such bonds may exceed the interest rates on mortgages financed with such bonds. Increases the amount by which the acquisition cost of bond-financed residences may exceed the average area purchase price of other homes in the same statistical area. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action.
United States · United States Congress · 24 March 1982
Amends the Internal Revenue Code to repeal the provision allowing an income tax deduction without substantiation for living expenses of Members of Congress.
United States · United States Congress · 24 March 1982
Amends the Internal Revenue Code to allow first-time home buyers an income tax credit equal to nine percent of the purchase price of a principal residence acquired after February 28, 1982, and before January 1, 1984. Limits the dollar amount of such credit to $5,400. Provides a three year carryback of excess credit amounts. Specifies that such credit shall be available with respect to only one residence of the taxpayer. Requires the recapture of credit amounts for the purchase of a principal residence if such residence is sold within 36 months after the date of acquisition, except in the case of the owner's death, a casualty loss, or a divorce settlement.
United States · United States Congress · 24 March 1982
Amends the Internal Revenue Code to allow first-time home buyers a nonrefundable income tax credit for nine percent of the purchase price of a principal residence, up to $5,400. Requires a recapture of such credit if the taxpayer disposes of the property within three years of the purchase. Allows a three-year carryback of such credit. Allows mortgage lenders a nonrefundable income tax credit equal to nine percent of the principal of a loan made to first-time home buyers during the period from March 1 to December 31, 1982. Limits such credit to $5,400. Requires that the credit be used to decrease the effective rate of interest on the mortgage by three points during a three-year period. Allows a three-year carryback of such credit. Revises requirements for the exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Increases the amount by which the acquisition cost of a residence financed with such bonds may exceed the average area purchase price. Revises prior residency requirements for mortgagors. Repeals the tax exclusion of interest on all savers certificates, effective April 1, 1982.
United States · United States Congress · 24 March 1982
Expresses the sense of the House of Representatives that changes to the Railroad Retirement Act of 1974 proposed in the FY 1983 budget should not be implemented.
United States · United States Congress · 23 March 1982
Amends the International Travel Act of 1961 to authorize appropriations for the U.S. Travel and Tourism Administration for fiscal year 1983.
United States · United States Congress · 23 March 1982
Research and Development Tax Planning Act of 1982 - Amends the Internal Revenue Code to make permanent the income tax credit for increased research activities. Requires the allocation of all expenditures made for research and experimentation conducted in the United States to United States source income, for income tax purposes.
United States · United States Congress · 23 March 1982
Authorizes appropriations for capital improvement projects on Guam for FY 1983.
United States · United States Congress · 23 March 1982
Amends the Internal Revenue Code to disallow either an income tax deduction or credit for expenditures made in connection with the illegal sale of drugs or in connection with other business activities for which a taxpayer is convicted of a Federal felony.
United States · United States Congress · 23 March 1982
Individual Housing Act of 1982 - Amends the Internal Revenue Code to allow an income tax deduction for cash contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing a principal residence. Limits the maximum annual deduction to $3,000, with a maximum lifetime deduction of $15,000. Provides for an annual inflation adjustment of such deduction based on the Consumer Price Index. Exempts such individual housing account from income taxation. Excludes distributions from such account from the taxpayer's gross income so long as such distributions are used for the purchase of a principal residence. Imposes a ten percent surtax on distributions from an individual housing account which are not used for the purchase of a principal residence. Directs the trustee of an individual housing account to make reports regarding such account to the Secretary of the Treasury as required.
United States · United States Congress · 23 March 1982
Expresses the sense of the Members of the House of Representatives that they: (1) do not endorse the administration's proposed FY 1983 budget changes in the guaranteed student loan, Pell grant, and other student assistance programs; and (2) resolve that no substantial changes be made that would result in reducing access of students for the 1982-1983 academic year.
United States · United States Congress · 22 March 1982
Amends the Internal Revenue Code and the Fish and Wildlife Conservation Act of 1980 to establish the Nongame Fish and Wildlife Trust Fund. Provides for voluntary contributions of $1.00 or more to such Fund through a check-off system on a taxpayer's income tax return.
United States · United States Congress · 22 March 1982
Authorizes appropriations to the Department of Energy for FY 1983 for conservation, exploration, development, production, sale, and use of the naval petroleum reserves and naval oil shale reserves.
United States · United States Congress · 22 March 1982
Expresses the sense of the Congress that businesses receiving tax benefits under the President's economic recovery program should contribute a certain amount to charity.
United States · United States Congress · 18 March 1982
Amends the Internal Revenue Code to allow a refundable income tax credit for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides. Limits such credit to $500 for each aged dependent for the taxable year.
United States · United States Congress · 18 March 1982
Irrigation Water Conservation Tax Act of 1982 - Amends the Internal Revenue Code to provide an additional investment tax credit for irrigation water conservation property which is part of a system for irrigating agricultural or horticultural commodities on land.
United States · United States Congress · 17 March 1982
Amends the Internal Revenue Code to allow an income tax credit of 20 percent of charitable contributions to programs providing job training for handicapped persons, economically disadvantaged individuals, or workers with obsolete skills. Limits the credit to $250,000. Allows for a three year carryback and a 15 year carryover of the unused credit.
United States · United States Congress · 17 March 1982
Emergency Youth Employment Tax Incentive Act - Amends the Internal Revenue Code to allow an increased income tax credit under the targeted jobs tax credit program for qualified youth employed between May 17, 1982, and September 17, 1982. Increases the rate of such credit from 50 to 85 percent. Defines "qualified youth" as an individual: (1) who is between 16 and 21 years old; (2) who has not displaced any other individual from employment; (3) who performs services on substantially a full-time basis; and (4) who is certified as being a member of an economically disadvantaged family. Exempts wages paid to a qualified youth from income tax, social security tax, and unemployment tax.
United States · United States Congress · 17 March 1982
Artist's Tax Equity and Donation Act of 1982 - Amends the Internal Revenue Code to allow an income tax deduction for the current fair market value of a literary, musical, or artistic composition created by the taxpayer and contributed to a charitable organization. Disallows a fair market value deduction for a contribution of property which was produced while the taxpayer was a Government officer or employee if such property arose out of the performance of the taxpayer's duties.
United States · United States Congress · 17 March 1982
Amends the Internal Revenue Code to extend to taxpayers who engage in barter exchanges the right to notice and a court hearing before third-party records must be surrendered to the Internal Revenue Service in a tax investigation.
United States · United States Congress · 17 March 1982
Independent Contractor Tax Act of 1982 - Amends the Internal Revenue Code to specify standards for determining whether certain individuals qualify as independent contractors for purposes of the tax on employment income. Treats an individual as an independent contractor if such individual: (1) controls the total number of his work hours; (2) has a principal place of business which is not his principal residence or which is not provided by the service recipient; (3) provides service, more than one-third of which is attributable to tangible property furnished by the individual providing the service; (4) is an insurance, real estate, or consumer salesperson; (5) risks income fluctuation because more than 90 percent of the remuneration for the performance of the service is directly related to sales or other output rather than to the number of hours worked; and (6) performs services pursuant to a written contract and is provided written notice of his responsibility with respect to income and self-employment taxes. Requires the recipient of services performed by an individual claiming independent contractor status to file returns disclosing payments made to such individual. Provides that the criteria established by this Act shall not be applicable to agent-drivers, commission-drivers, full-time life insurance salesmen, home workers, and traveling or city salesmen who are statutorily designated as employees for purposes of social security taxation. Provides that the failure of an individual claiming independent contractor status to meet the criteria established by this Act shall not create an inference that such an individual is an employee or that the recipient of his services is an employer. Limits the applicability of the criteria established by this Act to questions of employment status arising under the Federal Insurance Contributions Act, the Federal Unemployment Tax Act, self-employment tax provisions, and withholding requirements under the Internal Revenue Code. Requires recipients of services performed by an independent contractor to file an information return with respect to payments made for such services in excess of $600 for the taxable year. Requires businessmen who make direct sales of consumer goods to individuals for resale on a buy-sell basis or a deposit-commission basis to file information returns for sales in excess of $3,000. Requires individuals who file such information returns to furnish written statements to persons with respect to whom such information is reported which indicate the amount of payment reported. Provides penalties for failure to furnish information returns or statements. Requires recipients of services performed by an independent contractor to withhold ten percent of the payment made for such services. Sets forth exceptions to such withholding requirement. Provides a penalty for failure to comply with withholding requirements. Treats as employees, for purposes of the withholding of income tax, certain traveling or city salesmen.
United States · United States Congress · 17 March 1982
National Security Programs Authorization Act for Fiscal Year 1983 - Title I: National Security Programs - Authorizes appropriations for FY 1983 to the Department of Energy for operating expenses incurred in carrying out national security programs, including scientific research and development, strategic and critical materials necessary for common defense, military applications of nuclear energy, and additional authorizations for specific projects. Title II: General Provisions - Prohibits the use of funds authorized under this Act, without notice to Congress, where the costs of the program exceed 105 percent of the program authorization or the costs exceed by more than $10,000,000 the amount authorized by this Act, whichever is the lesser. Prohibits the use of funds authorized by this Act, without notice to Congress, for programs which have not been presented to, or requested of, Congress. Allows the use of such funds after 30 calendar days have elapsed since the Secretary of Energy has presented to all the appropriate congressional committees a full and complete statement of the action proposed. Allows the written waiver of such requirement where such waiver is approved in writing by each appropriate committee of Congress. Authorizes the Secretary to start any general plant project only if the maximum estimated cost of such project does not exceed $1,200,000. Sets forth procedures for approval of construction projects that exceed the 25 percent estimated cost provision, and exempts from such procedures any project which has an estimated cost of less than $5,000,000. Allows the transfer of funds from specified projects to other Government agencies for the performance of work for which the appropriation is made. Authorizes the Secretary to perform construction design services for construction projects in support of national security programs as appropriated under this Act. Directs the Secretary to notify the appropriate committees of Congress in writing of specific cost overruns.