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551 records in US in 1983
United States · United States Congress · 20 April 1983
Amends the Internal Revenue Code to provide that tax-exempt interest shall not be taken into account in determining the amount of social security benefits subject to tax.
United States · United States Congress · 20 April 1983
State Fiscal Assistance Block Grant Act - Declares that the purpose of this Act is to consolidate into a single program of assistance to States specified health, social, educational, and community services programs. Establishes in the Treasury a State Fiscal Assistance Block Grant Fund. Requires that funds appropriated for FY 1984 for the programs consolidated by this Act be deposited into such fund and that an equal amount be deposited for FY 1985 through 1988 financed from taxes on alcohol, tobacco, and communications. Places a limit on appropriations and entitlements for the programs consolidated by this Act. Limits the amount of any financial assistance provided to any State for FY 1985 and for each of the succeeding three fiscal years to the amount to which it become entitled for FY 1984. Makes amounts in the fund available for the programs for which they were appropriated in the event that a State does not participate in the consolidated program. Entitles a State to financial assistance under this Act upon notification to the Secretary of the Treasury and designation of one or more of the programs. Entitles a State, for each applicable fiscal year for which it designates a formula grant program, to receive the financial assistance it would have received under that program for FY 1985. Sets forth the procedure for determining the amount of assistance if a State designates a program that is not a formula grant program. Sets forth special rules with respect to water, waste disposal, and community facility loans. Permits a State to use amounts made available by this Act for a fiscal year only for: (1) the same general purposes as are served by any of the consolidated programs; and (2) administrative activities. Provides for the allocation of block grant amounts among program purposes for FY 1984 through 1987. Requires each State to provide to units of local government the same proportion as the State maintained with respect to those entities during FY 1981, 1982, and 1983. Requires a State, if it designates a water, waste disposal, or community facility program under the Consolidated Farm and Rural Development Act, to use the funds exclusively for the purpose of the designated program. Sets forth similar restrictions on the allocation of funds by a State if it designates a program under the Housing and Community Development Act of 1974. Requires a State, in order to become entitled to assistance under this Act, to prepare a report on proposed funds use. Requires assurance by a State that it has complied with the requirements of this Act. Sets forth requirements concerning reports, fiscal controls, audits, and prohibitions on age and sex discrimination. Requires Federal agencies to reduce or conclude their administrative activities with respect to the programs specified by this Act.
United States · United States Congress · 20 April 1983
Local Fiscal Assistance Block Grant Act of 1983 - Declares that the purpose of this Act is to consolidate revenue sharing and community development block grant programs into a single program of assistance to local governments. Establishes in the Treasury a Local Fiscal Assistance Block Grant Fund. Restricts the use of amounts in such Fund to payments to local governments and transfers to Federal administering departments. Requires a local government eligible to receive payments under the community development block grant program-entitlement portion and revenue sharing to notify the Secretary of the Treasury of its wishes to designate one or both of the programs. Declares that a decision to designate a program shall entitle such government to receive a block-grant payment for that fiscal year and each succeeding fiscal year for which payments are authorized. Provides that in the absence of a designation such government shall be entitled to receive payments in accordance with the statute and regulations applicable to the program. Requires the Secretary of the Department of Housing and Urban Development to inform the Secretary of the Treasury of the amount allocable under the community development block grant-entitlement portion to each local government in the applicable fiscal year. Requires that such block-grant payments be made in quarterly installments not later than the fifth day after the close of a quarter. Declares that any community development block grant - entitlement portion shall be paid in payments that reasonably reflect the historical outlay pattern of budget authority paid to local governments for that program. Makes appropriations for FY 1983 through 1987 to the Local Fund to carry out programs pursuant to this Act. Terminates the authority of the Department of Housing and Urban Development and of the Secretary to obligate the amounts appropriated to the Local Fund on September 30, 1990. Authorizes appropriations. Sets forth restrictions on the use of block-grant funds by local governments. Requires a local government, in order to be eligible to receive block-grant payments for a fiscal year, to report on their intended and actual uses. Requires assurance by a local government that it has complied with the requirements of this Act. Requires public participation in the decision-making process on the expenditure of block-grant payments. Requires independent audit of a government's financial statements on such expenditures.
United States · United States Congress · 20 April 1983
Prohibits any part of any amount appropriated to the District of Columbia as the Federal payment to the District for FY 1984 from being obligated or expended until the conditions at the firing range at the Lorton Reformatory in Lorton, Virginia, that presently pose a severe public safety hazard to the community adjoining the reformatory have been corrected.
United States · United States Congress · 20 April 1983
Amends the Internal Revenue Code to repeal the treatment of newspaper, magazine, or other periodical circulation expenditures as an item of tax preference for purposes of the minimum tax.
United States · United States Congress · 20 April 1983
Amends the Internal Revenue Code to allow businesses an income tax deduction for self-insured losses. Limits the amount of such deduction for taxpayers maintaining a self-insurance trust to an amount equal to the value of total liability for self-insured losses per year minus the amount in the taxpayer's reserve account or self-insurance trust. Limits the amount of such deduction for taxpayers self-insuring through either an affiliated or unaffiliated insurer to an amount equal to the premium paid to the insurer. Provides that payments made with respect to self-insured losses shall be deductible only to the extent they exceed in the aggregate the contribution made to the self-insurance trust or reserve account for the year in which the losses were incurred. Requires an annual accounting of self-insured losses whether or not a deduction is taken for that year. Includes in the gross income of the taxpayer any amount in a reserve account which exceeds any liability for self-insured losses. Defines and sets requirements for a self-insurance trust. Defines "self-insured losses" as: (1) losses, to the extent not compensated by insurance (other than insurance provided by an affiliated insurance company) or otherwise; and (2) amounts paid to insurers unrelated to the taxpayer to the extent such amounts are not otherwise deductible as insurance expenses when the insurer assumes risks of the taxpayer's business and adjusts the taxpayer's premium subsequent to payment. Requires the taxpayer to notify the Secretary of the Treasury, by means of attachment to the income tax return, of those classes and amounts of self-insurable risks that he is self-insuring.
United States · United States Congress · 20 April 1983
Authorizes appropriations for FY 1984 to the Bureau of the Mint for costs of the mints and assay offices. Authorizes additional appropriations for FY 1984, and for each year thereafter, to the Department of the Treasury for increases in salaries, pay, retirement, and other benefits of the employees of the Bureau of the Mint. Requires the Secretary of the Treasury to annually sell to the public sets of uncirculated and proof coins.
United States · United States Congress · 20 April 1983
Amends the Internal Revenue Code to exclude from gross income amounts received as dividends from domestic corporations and interest.
United States · United States Congress · 19 April 1983
National Science Foundation Authorization Act for Fiscal Year 1984 - Authorizes appropriations for the National Science Foundation for FY 1984 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) Antarctic research programs; (6) scientific, technological, and international affairs; (7) program development and management; and (8) science and engineering education. Limits the amounts of appropriations which may be expended for consultation and for expenses of the Foundation incurred outside the United States. Permits transfers of funds among categories, in excess of ten percent of appropriations, 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. Requires the Director to keep such committees fully informed of the activities of the Foundation.
United States · United States Congress · 19 April 1983
Amends the Tariff Act of 1930 to authorize appropriations for the International Trade Commission for FY 1984. Prohibits the Secretary of the Treasury from charging interest on the duties assessed on imported merchandise ten days after the entry of such merchandise into the United States. Amends the Customs Procedural Reform and Simplification Act of 1978 to authorize appropriations for the U.S. Customs Service for FY 1984. Prohibits the use of such appropriations for administrative expenses to pay U.S. Customs Service employees overtime pay in an amount that exceeds a specified sum. Amends the Trade Act of 1974 to authorize appropriations for the Office of the United States Trade Representative for FY 1984. Limits the amount that may be used for entertainment and representation expenses.
United States · United States Congress · 19 April 1983
Amends the Federal Election Campaign Act of 1971 to authorize appropriations to the Federal Election Commission for FY 1984.
United States · United States Congress · 19 April 1983
Department of Energy Civilian Research and Development Authorization Act for Fiscal Year 1984 - Authorizes appropriations for FY 1984 for operating expenses for the following Department of Energy research and development programs: (1) the fossil energy program; (2) the energy conservation program; (3) energy supply research and development with respect to solar energy, geothermal energy, nuclear fission, magnetic fusion, electric energy systems, energy storage systems, basic energy sciences, environmental research and development, and policy and management of energy research; (4) the geothermal resources development fund; (5) general science and research; and (6) advanced isotope separation technology and gas centrifuge process development and demonstration under the uranium enrichment program. Authorizes appropriations for FY 1984 for capital equipment expenses not related to construction for the following Department of Energy research and development programs: (1) the fossil energy program; (2) the energy conservation program; (3) energy supply research and development with respect to basic energy sciences, nuclear fission, magnetic fusion, electric energy systems, energy storage systems, and environmental research and development; (4) general science and research; and (5) advanced isotope separation technology and gas centrifuge process development and demonstration under the uranium enrichment program. Authorizes appropriations for FY 1984 for plant and capital equipment for specified prior year research and development projects with respect to: (1) fossil energy; (2) general science; (3) nuclear fission; (4) magnetic fusion; and (5) supporting research. Authorizes appropriations for FY 1984 for plant and capital equipment for specified new research and development projects with respect to: (1) fossil energy; (2) solar energy; (3) energy conservation; (4) environment; (5) general science; (6) supporting research; (7) nuclear fission; (8) magnetic fusion; and (9) uranium enrichment. Provides that the funds authorized under this Act are to be used only for research, development, and demonstration. Provides that none of the funds authorized by this Act are provided for the continuation or termination of the Clinch River Breeder Reactor project.
United States · United States Congress · 19 April 1983
Amends the Internal Revenue Code to exempt holdings in an independent local newspaper business from the tax on excess business holdings of private foundations. Defines an "independent local newspaper business" as: (1) a proprietorship which publishes an independent local newspaper; (2) a partnership which publishes such a newspaper and which has none of its outstanding partnership interests traded in an established securities market; and (3) a corporation which publishes such a newspaper and which has none of its outstanding capital stock traded in an established securities market.
United States · United States Congress · 19 April 1983
Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal provisions allowing an income tax deduction for payments to foreign government officials or employees which are illegal under Federal law.
United States · United States Congress · 19 April 1983
Amends the Internal Revenue Code to exclude from the definition of "compensation" jury service fees received by a spouse, for purposes of the retirement savings deduction for individuals with nonworking spouses.
United States · United States Congress · 19 April 1983
Amends the Internal Revenue Code to increase from 65 percent to 100 percent the amount of costs which may be taken into account by a corporation for purposes of the income tax credit for certain basic research performed under contract by colleges, universities, and research organizations. Expands the types of costs which may be taken into account for purposes of such credit to include salaries and costs incurred for the instruction of courses in math, science, computer science and engineering regardless of specific commercial objective.
United States · United States Congress · 18 April 1983
Fiscal Responsibilities Act of 1983 - Title I: To Discourage Taxflation by Requiring an Affirmative Vote of Congress Before Tax Receipts Increases as a Percentage of Gross National Product - Amends the Congressional Budget Act of 1974 to require a separate vote on the recommended level of Federal revenues for a fiscal year if, immediately before the final vote on adoption of the budget resolution (or its conference report), the percentage of the estimated gross national product represented by the recommended level of Federal revenues exceeds the percentage for the previous fiscal year. Title II: To Require Approval by Three-Fifths of the Members of the House of Representatives and the Senate of any Budget which Provides for a Deficit - Amends the Congressional Budget Act of 1974 to require approval by three-fifths of the Members of the House and the Senate of any budget which provides for a deficit. Title III: To Require the President to Submit a Balanced Budget in which Neither Expenditures nor Revenues Exceed 21 Percent of the Gross National Product - Amends the Budget and Accounting Act, 1921 to require the President to submit an alternate budget if the proposed budget contains a deficit.
United States · United States Congress · 18 April 1983
Requires the Director of the Office of Management and Budget, for FY 1982 through 1984, to assure that no more than 25 percent of any Federal agency's budget authority for a fiscal year may be obligated in the last quarter of such year. Permits departures from such requirement if necessary to avoid disruption. Requires the Director to report to Congress on action taken pursuant to this Act and on any departures. Exempts any reserves established and any other actions taken to satisfy this Act from specified reporting requirements of the Impoundment Control Act of 1974.
United States · United States Congress · 18 April 1983
Authorizes appropriations for FY 1984 to the Bureau of the Mint for costs of the mints and assay offices. Authorizes additional appropriations for FY 1984, and for each year thereafter, to the Department of the Treasury for increases in the salaries, pay, retirement, and other benefits of the employees of the Bureau of the Mint.
United States · United States Congress · 18 April 1983
Homeownership Opportunity Act of 1983 - Amends the Internal Revenue Code to provide an income tax credit to an individual who during the preceding five years has not owned a principal residence and who makes contributions to a homeownership opportunity account. Limits such credit to 25 percent of the amount contributed to such account during the taxable year. Limits the maximum annual contribution to $3,000 ($6,000 in the case of married couples), with a maximum lifetime contribution of $30,000 ($60,000 in the case of married couples). Provides for an annual inflation adjustment of such amounts. Allows a taxpayer to elect to take an income tax deduction in lieu of a credit for contributions to a homeownership opportunity account.
United States · United States Congress · 15 April 1983
Amends the Internal Revenue Code to deny tax-exempt treatment of interest on a bond issue if a significant portion of the principal or interest required to be paid on such bonds is insured by a Federal depository insurance agency. Exempts from this restriction proceeds of an issue which are invested: (1) for a temporary period; (2) in a bona fide debt service fund; or (3) in certain reserves or replacement funds.
United States · United States Congress · 15 April 1983
Excludes from gross income, for income tax purposes, any discharge of residential mortgage indebtedness which occurred in calendar year 1982. Limits the amount excludible to the adjusted basis of the taxpayer in the principal residence with respect to which the mortgage indebtedness was incurred. Reduces the basis of the principal residence by the amount of any discharge of mortgage indebtedness. Treats any gain recognized from the disposition of a principal residence as ordinary income to the extent such gain does not exceed the amount of the reduction in basis. Suspends the application of Revenue Ruling 82-202 for calendar years 1983 and 1984, (holding that income is realized on the discharge of indebtedness by prepayment of a mortgage balance at a discount). Expresses the sense of the Congress that legislation be enacted which addresses the Federal income tax consequences of discharge of residential mortgage indebtedness that result from prepayment of such indebtedness and which applies to discharge of mortgage indebtedness that occurs after December 31, 1982.
United States · United States Congress · 15 April 1983
Expresses the sense of the Senate that rural community fire protection grants provided under the Cooperative Forestry Assistance Act of 1978 and rural fire prevention and control activities of the Forest Service of the Department of Agriculture should receive a level of funding for FY 1984 which is at least as high as the level of funding provided for such programs for FY 1983.
United States · United States Congress · 14 April 1983
Tax Rate Equity Act - Amends the Internal Revenue Code to place a cap on the reduction in individual income tax rates enacted by the Economic Recovery Tax Act of 1981.
United States · United States Congress · 14 April 1983
Mortgage Retirement Account Act of 1983 - Amends the Internal Revenue Code to allow taxpayers an election to treat home mortgage prepayments as a tax deductible contribution to an individual retirement account. Allows amounts to be withdrawn from an individual retirement account for the purchase of a principal residence.
United States · United States Congress · 14 April 1983
Amends the Internal Revenue Code to repeal provisions which terminate the income tax exclusion for amounts received by an employee under an educational assistance program.
United States · United States Congress · 14 April 1983
Mortgage Retirement Account Act of 1983 - Amends the Internal Revenue Code to allow taxpayers an election to treat home mortgage prepayments as a tax-deductible contribution to an individual retirement account. Allows amounts to be withdrawn from an individual retirement account for the purchase of a principal residence.
United States · United States Congress · 14 April 1983
Directs the Secretary of the Treasury to study and report to specified congressional committees on the advisability of replacing only the Federal individual income tax or replacing both the Federal individual income tax and the Federal corporate income tax with a simplified income tax on gross income.
United States · United States Congress · 13 April 1983
Self-Tax Plan Act of 1983 - Amends the Internal Revenue Code to provide simplified tax rates for single and married taxpayers. Imposes a flat tax rate of 25 percent on the income of all corporations. Repeals all specific exclusions from gross income, all deductions and all credits except the following: (1) the credit for tax withheld on wages; (2) the credit for tax withheld on nonresident aliens; (3) the tax exclusion of gifts and inheritances; and (4) the tax exclusion of the income of States and municipalities. Establishes the amount of each personal exemption at $1,000. States that: (1) deductions shall be allowed for business expenses and capital cost recovery; (2) income earned by a trade or business shall be taxed only once; (3) married individuals may file income tax returns separately and be treated in the same manner as single individuals; and (4) no one shall be taxed twice on social security (or other retirement) contributions.
United States · United States Congress · 13 April 1983
Amends the Internal Revenue Code to decrease the holding period for capital gains tax treatment from one year to six months.
United States · United States Congress · 13 April 1983
Formaldehyde Foam Removal Tax Act - Title I: Tax Credit - Amends the Internal Revenue Code to allow individuals a refundable income tax credit for 100 percent of expenditures incurred to remove formaldehyde foam insulation from the principal residence of the taxpayer. Limits such credit to $10,000 for any taxable year. Provides that previous expenditures for urea- formaldehyde foam insulation shall not be taken into account in computing the dollar limitation on the residential energy tax credit. Title II: Responsibilities of Federal Agencies - Requires the Consumer Product Safety Commission (in the case of a dwelling unit in which formaldehyde foam has been installed) and the Department of Housing and Urban Development (in the case of a manufactured home) to provide, upon written request of any owner of a dwelling unit, a dosimeter or other device suitable for measuring the level of formaldehyde gas in such a dwelling unit. Requires followup tests by the designated agency if the results of the owner's test show a level of formaldehyde gas in excess of a specified level. Requires the designated agency to provide an owner with technical assistance to reduce the level of formaldehyde gas if such followup tests show the level of formaldehyde gas still in excess of the specified level. Requires the Consumer Product Safety Commission to conduct a survey of all public schools in the United States to determine if any such schools have formaldehyde foam insulation. Requires the Commission to submit a report to the Congress on such survey.
United States · United States Congress · 13 April 1983
Amends the Internal Revenue Code to increase the maximum allowable income tax deduction for contributions to retirement savings plans from $2,000 to $2,500. Increases the deduction levels for contributions to spousal IRA's and for contributions by divorced individuals.
United States · United States Congress · 13 April 1983
Amends the Internal Revenue Code to provide, for purposes of the residential energy tax credit and the investment tax credit, that a State or local program shall not be treated as having a principal purpose of providing subsidized energy financing unless such financing represents five percent or more of the total outstanding loan balance of loans provided under the program. Sets forth similar rules for proceeds of industrial development bonds.
United States · United States Congress · 13 April 1983
Amends the Internal Revenue Code to allow a $10,000 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.
United States · United States Congress · 13 April 1983
Family Opportunity Act - Amends the Internal Revenue Code to allow an income tax credit for 50 percent of the expenses paid by a taxpayer for computers designed primarily for educational, professional, or other essentially nonrecreational use in the home. Limits the amount of such credit for a taxable year to $100 multiplied by the number of qualified members of the taxpayer's family.
United States · United States Congress · 13 April 1983
Income Tax Simplification Act of 1983 - Title I: Individual Income Tax Rate, Etc. - Amends the Internal Revenue Code to repeal all tax tables and impose a 18 percent income tax rate on individuals, estates, and trusts. Allows an income tax credit for personal tax exemptions. Repeals the deduction for personal tax exemptions. Title II: Tax Reforms - Amends the Internal Revenue Code to repeal all income tax credits except the credit for tax withheld on wages and the credit for tax withheld at the source on nonresident aliens and foreign corporations and on tax-free covenant bonds. Repeals the exceptions to the tax inclusion of prizes and awards made in recognition of certain types of achievement. Repeals all limits and exceptions to the inclusion in the gross income of employees of amounts attributable to group-term life insurance provided by employers. Repeals the limitations on the inclusion in gross income of unemployment compensation. Repeals all income tax exclusions except the tax exclusion of gifts and inheritances and the tax exclusion of the income of States and municipalities. Repeals all income tax deductions for individuals and corporations except deductions for: (1) trade or business expenses; (2) losses; (3) payments with respect to employees of certain foreign corporations; (4) nonprofit activities; (5) amortization of real property construction period interest and taxes; (6) contributions to black lung benefit trusts; and (7) certain start-up expenditures. Repeals the deduction for trade or business expenses incurred in connection with certain appearances and activities designed to influence legislation. Repeals: (1) the partial deduction for treble damage payments under the antitrust laws; (2) the limited deduction for wagering losses; and (3) the special deduction for living expenses of State legislators. Repeals all additional itemized deductions for individuals except the deductions for expenses relating to the production of income and alimony or support payments. Repeals all special deductions for corporations. Repeals provisions allowing a taxpayer to elect to deduct certain costs relating to intangible drilling and development of oil, gas, and geothermal wells and relating to expenditures made in connection with certain railroad rolling stock. Repeals certain limitations and exemptions relating to the disallowance of deductions for: (1) entertainment expenses; and (2) contributions of an employer to an employees' trust or annuity plan or compensation under a deferred-payment plan. Repeals the exclusion from income of dividends reinvested in stock of public utilities. Repeals the exemption from corporate income tax of mutual savings banks conducting life insurance businesses. Repeals all special income tax rules relating to banking institutions. Repeals the depletion deduction and rules for the tax treatment of natural resources and capital gains. Repeals the: (1) tax exclusion for U.S. citizens and residents living abroad; (2) nonrecognition provisions for gain on the sale of a principal residence; (3) the deduction for net capital gains; and (4) provisions for income averaging. Repeals the tax exemption for domestic international sales corporations. Title III: Corporate Income Tax Rate - Imposes a corporate income tax rate of 18 percent. Title IV: Effective Date - States that the amendments made by this Act shall apply to taxable years after 1983.
United States · United States Congress · 12 April 1983
Maritime Appropriation Authorization Act for Fiscal Years 1984 and 1985 - Authorizes appropriations for FY 1984 for the Department of Transportation for the following maritime programs: (1) operating differential subsidy; (2) research and development activities; and (3) operations and training activities, including maritime education and training expenses and national security support capabilities. Authorizes FY 1985 appropriations for the Maritime Administration.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to limit the amount of any tax lien which may be imposed to the amount of any tax owed plus any interest, penalty, or costs. Provides procedures for the discharge of tax liens where: (1) the property has a value in excess of the tax liability; (2) partial payment has been made; or (3) the interest of the United States is valueless. Limits the property which may be seized or levyed upon to only that property possessed and obligations existing at the time of the tax deficiency. Prohibits the seizure and sale of property which has no value other than a value to the owner. Prohibits the seizure or levying upon of property of a taxpayer who has entered into an installment payment plan with the Internal Revenue Service. Permits a taxpayer (or a third party with an intest in the property) to bring a civil action against the United States in a U.S. district court on a claim that a lien was imposed or levy made in knowing violation of specified procedures or in knowing violation of an agreement made between the taxpayer and the Internal Revenue Service.
United States · United States Congress · 12 April 1983
National Science Foundation Authorization Act for Fiscal Year 1984 - Authorizes appropriations for the National Science Foundation for FY 1984 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) Antarctic research programs; (6) scientific, technological, and international affairs; (7) program development and management; and (8) science and engineering education. Limits the amounts of appropriations which may be expended for consultation and for expenses of the Foundation incurred outside the United States. Permits transfers of funds among categories, in excess of ten percent of appropriations, 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. Deletes the requirement that contracting officers of the Foundation report any financial or academic affiliation with a grant applicant. Repeals the prohibition against a Foundation employee's registering a patent in his or her own interest which is related to the subject matter of and is made in connection with official duties.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to impose an excise tax on arrows which are less than 18 inches overall in length. (Present law imposes a tax only on arrows more than 18 inches in length.)
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to grant tax-exempt status to a physicians' and surgeons' mutual protection association established to provide malpractice insurance to its members. Characterizes payments for malpractice insurance made to such an association by its physician or surgeon members as deductible business expenses.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to provide that gross income does not include interest on securities issued by certain educational organizations. Requires such educational organizations to: (1) grant baccalaureate or higher degrees; and (2) be a college or university created by specific act of the legislature of the State within which such college or university is located and for which such legislature has regularly made appropriations.
United States · United States Congress · 12 April 1983
Provides that no gain shall be recognized for income tax purposes from any net gift made before March 4, 1981.
United States · United States Congress · 12 April 1983
National Bureau of Standards Authorization Act for Fiscal Year 1984 - Authorizes appropriations to carry out the activities performed by the National Bureau of Standards for FY 1984, including: (1) measurement research and standards; (2) engineering measurements and standards; (3) computer science and technology; (4) Core Research Program for Innovation and Productivity; (5) Technical Competence Fund; (6) Fire Research Center; and (7) central technical support. Limits the amount of excess foreign currency obligation which the Bureau may incur. Requires that sufficient income from the Working Capital Fund remain outside the general fund of the Treasury to ensure the availability of working capital necessary to replace equipment and inventories for the Bureau. Authorizes additional appropriations for: (1) the Office of Productivity, Technology, and Innovation; and (2) necessary salary adjustments. Permits the transfer of funds among line items within ten percent of the amount authorized. Requires 30 days notice to the appropriate committees of Congress of any transfer of funds in excess of ten percent. Directs the Secretary of Commerce to charge other agencies for services the Bureau performs at their request. Permits the waiver of such charge as specified.
United States · United States Congress · 12 April 1983
States that no Treasury regulations determining whether an interest in a corporation is to be treated as stock or indebtedness shall apply to an instrument issued within 180 days after the regulations are submitted to Congress. Requires that such proposed regulations be consistent with the findings of Congress set forth in this Act.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to allow individuals who are either disabled or have attained the age of 65 a refundable income tax credit for real property taxes paid by them on their principal residences or for 25 percent of the rent they pay for their principal residence. Limits such tax credit to $500.
United States · United States Congress · 12 April 1983
Education Savings Account Act of 1983 - Amends the Internal Revenue Code to allow an income tax exclusion for cash contributions to a savings account established to pay the educational expenses (tuition, room and board) of the taxpayer's child at a vocational school or an institution of higher education. Limits the amount of such contributions to the excess of $1,000 over five percent (ten percent for married individuals filing separate returns) of the amount the adjusted gross income of the taxpayer exceeds $40,000 ($20,000 for married individuals filing separate returns) up to a maximum of $1,000 per year. Allows rollover contributions in specified circumstances. Exempts such an account from taxation unless it has ceased to be an educational savings account. Specifies tax penalties for the use of account funds for other than educational expenses. Allows amounts to be distributed from such an account without penalty if used to pay the medical expenses of the taxpayer's child. Provides that educational expenses do not include amounts paid for education at institutions found to be racially discriminatory. Allows the Attorney General to seek a declaratory judgment as to whether an educational institution follows racially discriminatory policies. Sets forth procedures for seeking such a declaratory judgment. Requires the Secretary of the Treasury to disclose to the Attorney General information concerning whether an educational institution is following racially discriminatory policies.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to provide that agricultural labor which is subject to social security tax withholding shall also be subject to income tax withholding. Provides that withholding shall be applied to agricultural labor if: (1) the cash remuneration is $150 or more during the calendar year; or (2) the employee performs such labor for the employer on 20 days or more during such year for cash remuneration computed on a time basis.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to allow an income tax credit for charitable contributions made to sheltered workshops. Limits the credit to $5,000,000. Allows a three year carryback and a 15 year carryover for the unused credit. Defines "sheltered workshop" as a workshop which is administered by a State or local government or is certified by the Department of Labor to provide employment to handicapped persons at minimum wages pursuant to the Fair Labor Standards Act.
United States · United States Congress · 12 April 1983
Amends the Internal Revenue Code to allow individual taxpayers who have attained the age of 18 an income tax deduction for contributions (cash or readily tradeable securities) to a savings account established for the exclusive purpose of financing the taxpayer's first principal residence. Limits the maximum annual deduction to the greater of 15 percent of the taxpayer's adjusted gross income or $1,500 ($3,000 if married and filing jointly), with annual inflation adjustments. Provides for a $15,000 maximum lifetime deduction ($30,000 for joint returns), with annual inflation adjustments. Limits to ten years the period during which deductible contributions may be made to housing savings accounts. Prohibits any individual from being a beneficiary of more than one account. Excludes distributions from a housing savings account from the gross income of its beneficiary if such distributions are used exclusively for the purchase of a principal residence. Exempts a housing savings account from taxation. Provides for the forfeiture of such exemption where the taxpayer uses the account for certain prohibited purposes. Imposes a penalty on distributions from an account which are used for a prohibited purpose. Requires the trustee of a housing savings account to file a report on the maintenance of the account. Imposes a penalty for the failure to file any required report.