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Resolution· HRESH.Res. 315 (96th)passed

A resolution waiving certain points of order against H.R. 4394, a bill making appropriations for the Department of Housing and Urban Development, and for sundry independent agencies, boards, commissions, corporations, and offices for the fiscal year ending September 30, 1980, and for other purposes.

United States · United States Congress · 12 June 1979

Sets forth the rule for the consideration of H.R. 4394 (Department of Housing and Urban Development funding).

Law· SS. 1309 (96th)open

An act to amend the Food Stamp Act of 1977 to improve food stamp program fiscal accountability through reductions in inaccurate eligibility and benefit determinations; to improve the system of deductions; to increase the specific dollar limitations on appropriations for the fiscal years 1980 and 1981 food stamp programs; and for other purposes.

United States · United States Congress · 11 June 1979

Amends the Food Stamp Act of 1977 to increase the authorized appropriations for the food stamp program for fiscal year 1979 from $6,158,900,00 to $6,778,900,000.

Bill· HRH.R. 4405 (96th)referred

Research Tax Incentive Act of 1979

United States · United States Congress · 11 June 1979

Research Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for investment in research and experimental property. Denies such credit to taxpayers whose gross receipts were in excess of $250,000,000 for a taxable year, or whose research and experimental expenditures did not exceed 2.5 percent of the gross receipts for a taxable year. Extends the investment tax credit to buildings and structural components used in research and experimentation. Requires the recapture of credit amounts if investment property ceases to be used for research and experimental purposes. Allows the amortization of research and experimental property, based on a period of not less than 60 months.

Bill· HRH.R. 4408 (96th)referred

New Firm Incentive Act of 1979

United States · United States Congress · 11 June 1979

New Firm Incentive Act of 1979 - Amends the Internal Revenue Code to provide that net operating losses incurred by a corporation during its first three taxable years may be carried over to the next ten taxable years, for purposes of the income tax deduction.

Bill· HRH.R. 4415 (96th)referred

Alcohol Fuel Act of 1979

United States · United States Congress · 11 June 1979

Alcohol Fuel Act of 1979 - Amends the Internal Revenue Code to allow a taxpayer to elect an income tax deduction with respect to the amortization, based on a 60 month period, of any qualified facility producing alcohol from coal, wood, waste, or agricultural products for primary use as a motor fuel.

Bill· HRH.R. 4407 (96th)referred

Patent Depreciation Act

United States · United States Congress · 11 June 1979

Patent Depreciation Act - Amends the Internal Revenue Code to provide that research and experimental expenditures in connection with a patent may be amortized for any period of not less than 60 months.

Bill· HRH.R. 4406 (96th)referred

Research Promotion Act of 1979

United States · United States Congress · 11 June 1979

Research Promotion Act of 1979 - Amends the Internal Revenue Code to allow businesses with gross receipts not in excess of $250,000,000 a nonrefundable income tax credit equal to ten percent of their research and experimental expenditures which exceed 2.5 percent of their gross receipts for the taxable year. Provides for carryovers and carrybacks of unused credits in any taxable year.

Law· HRH.R. 4387 (96th)open

A bill making appropriations for Agriculture, Rural Development, and Related Agencies programs for the fiscal year ending September 30, 1980, and for other purposes.

United States · United States Congress · 7 June 1979

Title I: Agricultural Programs - Makes appropriations for fiscal year 1980 for specified offices, corporations, and agricultural programs of the Department of Agriculture. Title II: Rural Development Programs - Makes appropriations for fiscal year 1980 for specified rural development programs of the Department of Agriculture. Title III: Domestic Food Programs - Makes appropriations for fiscal year 1980 for the Food and Nutrition Service, the food stamp program, and other domestic food programs of the Department of Agriculture. Title IV: International Programs - Makes appropriations for fiscal year 1980 for Food for Peace and other specified international programs of the Department of Agriculture. Title V: Related Agencies - Makes appropriations for fiscal year 1980 for the Food and Drug Administration, the Commodity Futures Trading Commission, and the Farm Credit Administration. Title VI: General Provisions - Specifies miscellaneous requirements regarding the use of funds appropriated by this Act.

Bill· HRH.R. 4380 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the investment tax credit for energy property shall apply to certain property which is at least 10 percent more efficient than the property replaced.

United States · United States Congress · 7 June 1979

Amends the Internal Revenue Code to qualify energy property which is at least ten percent more energy efficient than property which it replaces for the investment tax credit. Qualifies certain small boilers fueled by oil or gas for the investment tax credit.

Bill· HRH.R. 4376 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the provisions denying the investment tax credit and rapid methods of depreciation for certain oil boilers will not apply to certain efficient replacement oil boilers.

United States · United States Congress · 7 June 1979

Amends the Internal Revenue Code to qualify a replacement oil boiler whose energy savings cost can reasonably be expected to exceed its cost over a ten year period for the investment tax credit.

Resolution· HRESH.Res. 307 (96th)passed

A resolution providing for the consideration of H.R. 3916, a bill to extend for 1 fiscal year the current authorization of appropriations for programs of assistance under the Comprehensive Alcohol Abuse and Alcoholism Prevention Treatment, and Rehabilitation Act of 1970 and the Drug Abuse Office and Treatment Act of 1972.

United States · United States Congress · 7 June 1979

Sets forth the rule for the consideration of H.R. 3916 (Alcohol and drug abuse programs).

Resolution· HRESH.Res. 309 (96th)passed

A resolution providing for the consideration of H.R. 3821, a bill to authorize appropriations for fiscal year 1980 for intelligence and intelligence-related activities of the United States Government, the Intelligence Community Staff, and the Central Intelligence Agency Retirement and Disability System, to authorize supplemental appropriations for fiscal year 1979 for the intelligence and intelligence-related activities of the United States Government, and for other purposes.

United States · United States Congress · 7 June 1979

Sets forth the rule for the consideration of H.R. 3821 (Intelligence activities funding).

Bill· HRH.R. 4343 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a refundable tax credit for amounts paid for increases in electricity under automatic fuel adjustment clauses as a result of the shutdown of the nuclear plant at Three Mile Island near Middletown, Pennsylvania.

United States · United States Congress · 6 June 1979

Amends the Internal Revenue Code to allow homeowners or businessmen a refundable income tax credit for increases in electricity costs incurred by such individuals as a result of the shutdown of the nuclear plant at Three Mile Island.

Bill· HRH.R. 4332 (96th)referred

A bill to amend section 103 of the Internal Revenue Code of 1954 to provide that the interest on mortgage revenue bonds will not be exempt from Federal income tax.

United States · United States Congress · 5 June 1979

Amends the Internal Revenue Code to deny a tax exclusion of the interest on State and local mortgage revenue bonds. Defines "mortgage revenue bonds" as bonds which are issued to provide funding for mortgages on owner-occupied residences. Permits a tax exclusion for interest on bonds which are issued by a State agency: (1) which has been authorized by the State legislature to issue bonds to finance housing for a class of individuals specifically designated by the legislature; (2) the officers of which are appointed on the State level; (3) which is required to report to the State legislature at least annually; and (4) which maintains a full-time staff. Limits the issuance of industrial development bonds for housing purposes to housing financed by a State agency in conformity with the requirements of this Act.

Bill· HRH.R. 4323 (96th)referred

New Energy Source Tax Incentive Act of 1979

United States · United States Congress · 5 June 1979

New Energy Source Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to $3 for each barrel of oil or bitumen produced from any rock type that is not producible by primary recovery methods due to the viscosity and the lack of natural mobility of the oil in-place. Increases the amount of such credit by the amount of production credit carryovers and carrybacks for the taxable 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 oil or bitumen; and (2) the amount by which the adjusted reference price (average daily market price per barrel during the preceding calendar year for certain Arabian light crude oil, adjusted for inflation) exceeds $20.50. Authorizes the President to adjust the amount of the credit (but not higher than $3) when such action is in the national interest. Requires, as a condition of eligibility for the credit, that the oil or bitumen be produced within the United States or its possessions. Requires the Secretary of Energy to publish the adjusted reference price, and an explanation of the method and data used in computing it, if such price exceeds $20 per barrel.

Bill· HRH.R. 4319 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that State and local governments and certain tax exempt organizations shall be eligible for the refund of the investment tax credit for solar and wind energy property.

United States · United States Congress · 5 June 1979

Amends the Internal Revenue Code to provide that State and local governments and certain tax-exempt organizations shall be eligible for the refund of the investment tax credit for solar and wind energy property.

Bill· HRH.R. 4322 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow the deduction for depletion to the purchaser of the waste or residue of uranium mining or of the rights to extract ores or minerals from such waste or residue.

United States · United States Congress · 5 June 1979

Amends the Internal Revenue Code to allow an income tax deduction for the depletion to the purchaser of the waste or residue of uranium mining or of the rights to extract ores or minerals from such waste or residue.

Bill· HRH.R. 4290 (96th)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the treatment for purposes of the minimum tax of charitable contributions made by certain charitable trusts established by corporations.

United States · United States Congress · 4 June 1979

Amends the Internal Revenue Code to provide that charitable contributions attributable to charitable corporate trusts shall be treated as deductions from gross income for purposes of determining the minimum tax liability for adjusted itemized deductions.

Bill· HRH.R. 4280 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow any individual who sold his principal residence after December 31, 1977, and before July 27, 1978, and who attained age 65 before the date of such sale a special election to exclude up to $100,000 of gain on the sale of such residence.

United States · United States Congress · 31 May 1979

Amends the Internal Revenue Code to permit any individual who sold his principal residence after December 31, 1977, and before July 27, 1978 (the effective date for the one-time $100,000 capital gain exclusion for the sale of a principal residence), and who attained age 55 before the date of such sale, a special election to exclude up to $100,000 (depending on the date of the sale) of gain on the sale of such residence.

Bill· HRH.R. 4265 (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 · 31 May 1979

Amends the Internal Revenue Code to allow homeowners a nonrefundable income tax credit for 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. 4268 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a refundable tax credit for amounts paid for increases in electricity under automatic fuel adjustment clauses as a result of the shutdown of the nuclear plant at Three Mile Island near Middletown, Pennsylvania.

United States · United States Congress · 31 May 1979

Amends the Internal Revenue Code to allow homeowners or businessmen a refundable income tax credit for increases in electricity costs incurred by such individuals as a result of the shutdown of the nuclear plant at Three Mile Island.

Bill· HRH.R. 4262 (96th)referred

Crude Oil Windfall Profit Tax Act of 1979

United States · United States Congress · 31 May 1979

Crude Oil Windfall Profit Tax Act of 1979 - Amends the Internal Revenue Code to impose upon producers of domestic crude oil an excise tax on the windfall profits from oil removed from the premises during each taxable period. Sets the rate of such tax at 85 percent of the windfall profit on each barrel of taxable crude oil. Defines "windfall profit" as the excess of the removal price of a barrel of crude oil (amount for which barrel is sold) over the sum of the adjusted base price of such barrel (the base price, plus the base price multiplied by a cost of living adjustment for the calendar quarter in which the crude oil is removed from the premises) and the amount by which any severance tax imposed with respect to such barrel exceeds the severance tax which would have been imposed if the barrel had been extracted and sold on March 31, 1979, at the base price. Specifies base prices for three tiers or types of crude oil subject to the 1979 energy regulations. Provides that the windfall profit on any barrel of crude oil shall not exceed the net income attributable to such barrel. Requires oil producers to maintain such records with respect to oil production as the Secretary of the Treasury may require. Specifies that windfall profit tax returns must be filed not later than the last day of the second month following the close of the taxable period. Requires the purchaser of taxable crude oil to furnish to the individual responsible for the payment of the windfall profits tax a monthly statement containing information with respect to: (1) the amount of taxable crude oil purchased during such month; (2) the removal price of such oil; (3) the base price and the adjusted base price of such oil; (4) the amount of such taxpayer's liability for tax; and (5) other information which the Secretary may require. Imposes fines and criminal penalties for willful failure to provide such information. Requires each partnership, estate, and trust producing domestic crude oil for any taxable period to furnish to each partner or beneficiary a written statement showing: (1) the name of such partner or beneficiary; (2) information received by the partnership, trust, or estate from the purchaser of crude oil; and (3) each partner's or beneficiary's share from the sale of crude oil.

Bill· HRH.R. 4254 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow small businesses to treat for purposes of the deduction for depreciation $100,000 of property placed in service during each taxable year as having a useful life of 3 years.

United States · United States Congress · 30 May 1979

Amends the Internal Revenue Code to permit taxpayers to elect to depreciate tangible personal property with a basis of less than $100,000 on a 36 month basis under the straight line method.

Bill· SS. 1257 (96th)referred

Research Tax Incentive Act of 1979

United States · United States Congress · 24 May 1979

Research Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for investment in research and experimental property. Denies such credit to taxpayers whose gross receipts were in excess of $250,000,000 for a taxable year, or whose research and experimental expenditures did not exceed 2.5 percent of their gross receipts for a taxable year. Extends the investment tax credit to buildings and structural components used in research and experimentation. Requires the recapture of credit amounts if investment property ceases to be used for research and experimental purposes. Allows the amortization of research and experimental property, based on a period of not less than 60 months.

Bill· SS. 1255 (96th)referred

New Firm Incentive Act of 1979

United States · United States Congress · 24 May 1979

New Firm Incentive Act of 1979 - Amends the Internal Revenue Code to provide that net operating losses incurred by a corporation during its first three taxable years may be carried over to the next ten taxable years, for purposes of the income tax deduction.

Bill· SS. 1256 (96th)referred

Research Promotion Act of 1979

United States · United States Congress · 24 May 1979

Research Promotion Act of 1979 - Amends the Internal Revenue Code to allow businesses with gross receipts not in excess of $250,000,000 a nonrefundable income tax credit equal to ten percent of their research and experimental expenditures which exceed 2.5 percent of their gross receipts for the taxable year. Provides for carryovers and carrybacks of unused credits in any taxable year.

Bill· SS. 1247 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to reduce the tax affect known as the marriage penalty by permitting the deduction, without regard to whether deductions are itemized, of 10 percent of the earned income of the spouse whose earned income is lower than that of the other spouse.

United States · United States Congress · 24 May 1979

Amends the Internal Revenue Code to reduce the tax effect known as the marriage penalty by permitting the deduction, without regard to whether deductions are itemized, of ten percent of the earned income of the spouse whose earned income is lower than that of the other spouse. Limits such tax deduction to $2,000.

Bill· SS. 1254 (96th)referred

Patent Depreciation Act

United States · United States Congress · 24 May 1979

Patent Depreciation Act - Amends the Internal Revenue Code to provide that research and experimental expenditures in connection with a patent may be amortized for any period of not less than 60 months.

Bill· HRH.R. 4225 (96th)referred

Business Incentives Act of 1979

United States · United States Congress · 24 May 1979

Business Incentives Act of 1979 - Amends the Internal Revenue Code to permit the depreciation of tangible personal property with a basis of less than $100,000 on a 36 month basis under the straight line method. Provides for the limited nonrecognition of gain from the sale of an interest in business property, if within a two year period from the date of such sale, replacement property is purchased by the taxpayer. Limits such nonrecognition to the extent that the taxpayer's sale price does not exceed the cost to the taxpayer of the replacement property. Amends the Securities Act of 1933 to raise the amount of stock issue that is exempt from registration from $2,000,000 to $3,000,000.

Bill· HRH.R. 4239 (96th)referred

A bill to amend the Airport and Airways Development Act of 1970.

United States · United States Congress · 24 May 1979

Amends the Internal Revenue Code to exempt from the excise tax on the use of civil aircraft, aircraft owned and operated by the Civil Air Patrol if such aircraft are used in search and rescue missions by the Civil Air Patrol.

Bill· HRH.R. 4226 (96th)referred

Tuition Tax Relief Act

United States · United States Congress · 24 May 1979

Tuition Tax Relief Act - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 50 percent of the tuition paid for the elementary, secondary, college, or post-secondary vocational education of the taxpayer, his spouse, or any of his dependents. Sets forth maximum dollar amounts allowable as a credit for calendar years 1980, 1981, 1982 and thereafter. Treats tuition payments as paid for calendar year 1980 only if such payments are made on or after August 1, 1980, and before February 1, 1981, for education furnished on or after August 1, 1980, and before January 1, 1981. Treats tuition payments as paid for calendar year 1981 and thereafter only if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Excludes graduate students from eligibility for the credit. Requires full-time or qualified half-time attendance at an eligible educational institution. Excludes from the definition of "tuition" any amounts paid for books, supplies, and equipment for courses of instruction, meals, lodging, transportation, or education below the first-grade level. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Provides that an educational institution which enrolls a student for whom a tax credit is claimed under this Act shall not be considered to be a recipient of Federal assistance. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.

Bill· HRH.R. 4222 (96th)referred

Crude Oil Tax Act of 1979

United States · United States Congress · 24 May 1979

Crude Oil Tax Act of 1979 - Amends the Internal Revenue Code to impose upon producers of domestic crude oil (other than Alaskan oil produced from a well north of the Arctic Circle) an excise tax on taxable crude oil removed from the premises during each taxable period. Sets the amount of such tax, with respect to any barrel of taxable crude oil, at the excess of the average removal price for such oil over the adjusted base price for such oil. Specifies base prices for three tiers or types of crude oil subject to the June 1979 energy regulations. Requires oil producers to maintain such records with respect to oil production as the Secretary of the Treasury may require. Specifies that the tax returns with respect to the excise tax imposed by this Act shall be filed not later than the last day of the second month following the close of the taxable period. Requires the purchaser of taxable crude oil to furnish to the individual responsible for the payment of the tax a monthly statement containing information with respect to: (1) the amount of taxable crude oil purchased during such month; (2) the base price and the adjusted base price with respect to such oil; (3) the amount of such taxpayer's liability for the tax; and (4) other information which the Secretary may require. Imposes fines and criminal penalties for willful failure to provide such information. Requires each partnership, estate, and trust producing domestic crude oil for any taxable period to furnish to each partner or beneficiary a written statement showing: (1) the name of such partner or beneficiary; (2) information received by the partnership, trust, or estate from the purchaser of crude oil; (3) each partner's or beneficiary's share from the sale of crude oil; and (4) other information which the Secretary may require.

Bill· SS. 1240 (96th)referred

Employee Stock Ownership Improvements Act of 1979

United States · United States Congress · 23 May 1979

Employees Stock Ownership Improvements Act of 1979 - Amends the Revenue Act of 1978 and the Internal Revenue Code to establish, without expiration dates, a credit against the corporate income tax for contributions by an employer to an employee stock ownership plan (ESOP). Sets the amount of such credit at a sum equal to the amount transferred to such a plan, not to exceed the taxpayer's income tax liability. Excludes certain taxes from the calculation of such liability. Provides for the carryover of any credit in excess of such liability. Denies such credit to certain regulated public utilities. Denies business expense, production of income expense, or contribution to deferred-payment plan deductions for amounts required to be transferred to a tax credit ESOP. Provides for an additional tax credit for contributions to certain ESOPs. Allows an income tax deduction to an employer for any dividend paid with respect to employer securities held by a tax credit ESOP, if the dividend is distributed to the employees participating in the plan. Deems contributions, bequests, or similar transfers of employer securities, under certain conditions, to a tax credit ESOP as a deductible charitable contribution. Eliminates specified voting rights and stock distribution demand rights requirements for certain qualifying ESOPs. Allows a special income tax credit to a small business employer who establishes an ESOP in an amount equal to the actual cost of establishing the plan, not to exceed $5,000. Continues to allow a deduction for retirement savings to individuals, including certain married individuals who also participate in tax credit ESOPs. Allows an employer unlimited deductions for qualified matching employee contributions on behalf of its employees made to a tax credit ESOP. Excludes from the gross income of a tax credit ESOP participant any lump-sum distribution of employer securities (not to exceed $5,000) made from a qualified trust which is part of a tax credit ESOP. Prescribes the use of investing stock acquired by a tax credit ESOP. Eliminates limitations on deductions for employer contributions to a combination of one or more stock bonus and one or more profit-sharing plans. Requires one of the alternative benefits in a qualified cafeteria plan to be cash, property, or another currently taxable benefit. Defines a cafeteria plan to include deferred compensation plans which are part of a qualified profit-sharing or stock bonus plan.

Bill· HRH.R. 4205 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a credit for amounts paid by blind, deaf, or speech-impaired individuals for use of toll telephone service by means of teletypewriters, and to allow such individuals a deduction for the purchase and installation of such teletypewriters.

United States · United States Congress · 23 May 1979

Amends the Internal Revenue Code to allow a refundable income tax credit equal to 75 percent of the amounts paid by blind, deaf, or speech-impaired individuals for use of toll telephone service by means of teletypewriters. Allows an income tax deduction for 50 percent of the expenses of purchasing or installing a teletypewriter which are incurred by blind, deaf, or speech-impaired individuals. Limits the amount of such deduction to $200 for each teletypewriter.

Bill· HRH.R. 4207 (96th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a credit for the purchase of electric motor highway vehicles.

United States · United States Congress · 23 May 1979

Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to ten percent of the cost of a qualified electric motor vehicle to the extent that the cost of such vehicle does not exceed $3,000. Defines a "qualified electric motor vehicle" as any four-wheeled vehicle which: (1) is manufactured primarily for use on the road; (2) is powered primarily by rechargeable electric current; (3) is acquired by the taxpayer on or after January 1, 1979, for his personal use; and (4) begins its original use with the taxpayer or a member of his family. Terminates the credit for electric vehicles purchased after December 31, 1985.

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