Taxation

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

551 records in US in 1997

Records

Bill· HRH.R. 1743 (105th)referred

To amend the Internal Revenue Code of 1986 to repeal the limitations on medical savings accounts relating to the number of accounts and number of employees of an employer, and for other purposes.

United States · United States Congress · 22 May 1997

Amends the Internal Revenue Code to remove limitations on the number of taxpayers who may have medical savings accounts. Amends provisions defining "eligible individual" to remove references to small employers. Makes the amendments of this Act effective as if they had been included in the Health Insurance Portability and Accountability Act of 1996.

Bill· HRH.R. 1708 (105th)referred

Interim Emergency Supplemental Appropriations Act of 1997

United States · United States Congress · 22 May 1997

TABLE OF CONTENTS: Title I: Interim Emergency Supplemental Appropriations for Recovery from Natural Disasters and Overseas Peacekeeping Chapter 1: Department of Defense - Military Chapter 2: Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Chapter 3: Subcommittee on Commerce, Justice, and State, the Judiciary, and Related Agencies Chapter 4: Subcommittee on Energy and Water Development Chapter 5: Departments of Housing and Urban Development, and Independent Agencies Title II: Rescissions and Offsets Title III: General Provisions, This Act Interim Emergency Supplemental Appropriations Act of 1997 - Makes interim emergency supplemental appropriations for FY 1997 for the programs listed in this Act. Title I: Interim Emergency Supplemental Appropriations for Recovery From Natural Disasters and Overseas Peacekeeping - Chapter 1: Department of Defense - Military - Provides additional funds for the Overseas Contingency Operations Transfer Fund. Rescinds amounts for the following programs from funds provided in the Department of Defense Appropriations Act, 1997: (1) operations and maintenance defense-wide and for the Army, Navy, and Air Force individually; and (2) aircraft procurement and military personnel for the Army, Navy, and Air Force. Rescinds, from the following accounts, certain amounts provided in previous Department of Defense Appropriations Acts: (1) Army, Navy, and Air Force aircraft procurement; (2) Army and Navy weapons procurement; (3) Army missile, tracked combat vehicles, and other procurement; (4) Navy shipbuilding and conversion; (5) defense-wide procurement; and (6) Army, Navy, Air Force, and defense-wide research, development, test, and evaluation. Chapter 2: Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies - Provides additional funds to the Farm Service Agency for the Emergency Conservation Program for expenses resulting from flooding and other natural disasters. Authorizes the use of a specified amount from proceeds earned from the sale of grain in the disaster reserve established in the Agricultural Act of 1970 to implement a livestock indemnity program for losses from certain natural disasters. Makes such authorization effective only for losses occurring in FY 1997 through this Act's enactment date. Limits the grain in the disaster reserve to 20 million bushels, beginning in FY 1998. Provides additional funds to the Natural Resources Conservation Service for watershed and flood prevention operations to repair damages to waterways and watersheds resulting from flooding and other natural disasters, including those in prior years. Prohibits the use of such appropriations for the salmon memorandum of understanding. Provides additional funds to the Food and Consumer Service for the Special Supplemental Nutrition Program for Women, Infants, and Children. Chapter 3: Subcommittee on Commerce, Justice, and State, the Judiciary, and Related Agencies - Makes additional amounts available for the Economic Development Administration for economic development assistance programs for emergency infrastructure expenses and the capitalization of revolving loan funds related to recent flooding and other natural disasters. Chapter 4: Subcommittee on Energy and Water Development - Provides additional funds to the Army Corps of Engineers for flood control and coastal emergencies. Chapter 5: Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies - Makes additional funds available for the Community Development Block Grants Fund to remain available through FY 2000 for buyouts, relocation, long-term recovery, and mitigation in communities affected by the flooding in the upper Midwest and other disasters in FY 1997 and natural disasters designated 30 days prior to the start of FY 1997. Excludes activities reimbursable or for which funds are made available by the Federal Emergency Management Agency (FEMA), the Small Business Administration, or the Army Corps of Engineers. Permits the Secretary of Housing and Urban Development (HUD) to waive certain requirements that activities benefit persons of low- and moderate-income or that housing qualify as affordable housing under specified housing laws with respect to the use of funds under this chapter. Provides additional funds to FEMA for disaster relief. Title II: Rescissions and Offsets - Limits the amount of funds available for the Fund for Rural America and for salaries and expenses of Foreign Agricultural Service personnel carrying out certain export credit and enhancement programs. Rescinds, with exceptions, amounts recaptured under annual contributions for assisted housing. Directs the Secretary of HUD to recapture a specified amount in amounts previously made available to housing agencies for tenant-based assistance under the Section 8 existing housing certificate and voucher programs. Requires such recaptures to be from amounts in the annual contributions contract reserve accounts established by HUD. Title III: General Provisions, This Act - Prohibits any appropriation in this Act from remaining available for obligation beyond the current fiscal year unless otherwise provided.

Bill· HRH.R. 1735 (105th)referred

Single Parent Protection Act of 1997

United States · United States Congress · 22 May 1997

Single Parent Protection Act of 1997 - Amends the Internal Revenue Code to allow an individual a credit in an amount equal to the unpaid child support of such individual for the taxable year. Requires the taxpayer to identify each individual required to pay support. Increases the tax of the individual failing to make required support payments by the amount of such credit. Prohibits treating any such increase in tax as a tax for purposes of determining a credit or the minimum tax.

Bill· HRH.R. 1731 (105th)referred

To amend the Internal Revenue Code of 1986 to increase the standard mileage rate deduction for charitable use of passenger automobiles.

United States · United States Congress · 22 May 1997

Amends the Internal Revenue Code to increase, from 12 to 18 cents per mile, the standard mileage rate deduction for the charitable use of passenger automobiles.

Bill· HRH.R. 1713 (105th)referred

Commuter Conservation and Employee Flexibility Act of 1997

United States · United States Congress · 22 May 1997

Commuter Conservation and Employee Flexibility Act of 1997 - Amends the Internal Revenue Code to permit an employee to elect to receive taxable cash compensation in lieu of nontaxable parking benefits.

Bill· HRH.R. 1706 (105th)referred

Child Care Infrastructure Act of 1997

United States · United States Congress · 22 May 1997

Child Care Infrastructure Act of 1997 - Amends the Internal Revenue Code to allow an employer-provided child care credit for qualified expenses to build, rehabilitate, or expand a qualified child care facility, or subsidize or contract for such services, for an employer's employees. Terminates such credit by a specified date.

Bill· HRH.R. 1707 (105th)referred

Interim Emergency Supplemental Appropriations Act of 1997

United States · United States Congress · 22 May 1997

Resolution· HRESH.Res. 156 (105th)referred

Relating to the disposition of Senate amendments to the concurrent resolution (H. Con. Res. 84) establishing the congressional budget for the United States Government for fiscal year 1998 and setting forth appropriate budgetary levels for fiscal years 1999, 2000, 2001, and 2002.

United States · United States Congress · 22 May 1997

Provides for the House to concur in the Senate amendment to H. Con. Res. 84 (congressional budget) with or without amendment, whichever is necessary to achieve the end that the text of such resolution thereby is finally adopted, or the text thereby proposed by the House amendment to the Senate amendment is the text of H. Con. Res. 86 (congressional budget).

Resolution· HCONRESH.Con.Res. 90 (105th)referred

Establishing the congressional budget for the United States Government for fiscal year 1998 and setting forth appropriate budgetary levels for fiscal years 1999, 2000, 2001, and 2002.

United States · United States Congress · 22 May 1997

TABLE OF CONTENTS: Title I: Levels and Amounts Title II: Reconciliation Instructions Title III: Sense of Congress Provisions Establishes the congressional budget for the Government for FY 1998 and sets forth budgetary levels for FY 1999 through 2002. Title I: Levels and Amounts - Lists recommended budgetary levels and amounts, for FY 1998 through 2002, for: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) the public debt; (6) direct loan obligations; and (7) primary loan guarantee commitments. Sets forth levels of new budget authority, budget outlays, new direct loan obligations, and new primary loan guarantee commitments for FY 1998 through 2002 for specified major functional categories. Title II: Reconciliation Instructions - Establishes a deadline for the submission of specified House committee recommendations on changes in laws that provide direct spending to the House Budget Committee. Requires the House Budget Committee to report a reconciliation bill carrying out such recommendations without substantive revision to the House. Establishes outlay limits, for FY 1998 through 2002, for the following House committees: (1) Agriculture; (2) Banking and Financial Services; (3) Commerce; (4) Education and the Workforce; (5) Government Reform and Oversight; (6) Transportation and Infrastructure; (7) Veterans' Affairs; and (8) Ways and Means. Sets forth, for FY 1998 through 2002: (1) deficit reduction targets for the House Government Reform and Oversight Committee; and (2) amounts by which revenues shall be decreased and increased, respectively, by the House Ways and Means Committee. Deems the House Committees on Commerce and Ways and Means to be in noncompliance with reconciliation instructions pursuant to the Congressional Budget Act of 1974 if such committees provide a children's health initiative that would increase the deficit by more than specified amounts for FY 1998 through 2002. Title III: Sense of Congress Provisions - Expresses the sense of the Congress with respect to: (1) legislation to provide middle-income tax relief, small business tax incentives and relief, and extensions to the solvency of the Medicare Trust Fund; (2) offsets of tax cuts by revenue increases; (3) sufficient funding to insure all uninsured children in America through health care grants and expansion of Medicaid and for domestic discretionary funding for priority areas; (4) increased Medicaid coverage for low-income adults, seniors, and uninsured children; (5) increased annual limits on Pell Grants; (6) support for the President's school construction initiative; (7) increased funding for educational opportunities, crime intervention and prevention, and domestic violence programs; (8) transportation improvement funding; (9) sufficient funding for specified programs to meet the needs of infants and toddlers; (10) funding for the National Institutes of Health and veterans' cost-of-living allowances and housing benefits; (11) full funding for Federal research and development programs; (12) increased housing assistance; and (13) priorities in spending on defense readiness and personnel as opposed to expansions of large weapons systems.

Resolution· HCONRESH.Con.Res. 86 (105th)referred

Setting forth the congressional budget for the United States Government for fiscal years 1998, 1999, 2000, 2001, and 2002.

United States · United States Congress · 22 May 1997

TABLE OF CONTENTS: Title I: Levels and Amounts Title II: Budgetary Restraints and Rulemaking Title III: Sense of the House of Representatives Sets forth the congressional budget for the Government for FY 1998. Sets forth appropriate budgetary levels for FY 1999 through 2002. Title I: Levels and Amounts - Lists recommended budgetary levels and amounts, for FY 1998 through 2002, with respect to: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) public debt; (6) new direct loan obligations; and (7) new primary loan guarantee commitments. (Sec. 102) Sets forth for such fiscal years specified amounts of revenues and outlays of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund. (Sec. 103) Lists the appropriate levels of new budget authority, budget outlays, new direct loan obligations, and new primary loan guarantee commitments for each of specified major functional categories for FY 1998 through 2002. (Sec. 104) Establishes reconciliation procedures for the Senate. Sets forth a deadline for submission of specified Senate committee recommendations to the Senate Committee on the Budget. Requires that Committee to report to the Senate a reconciliation bill without any substantive revision of such recommendations. Sets forth deficit reduction amounts for FY 1998 through 2002 for the Senate committees on: (1) Banking, Housing, and Urban Affairs; (2) Commerce, Science, and Transportation; and (3) Governmental Affairs. Specifies outlay reductions, for FY 1998 through 2002, for the Senate committees on: (1) Energy and Natural Resources; (2) Finance; (3) Labor and Human Resources; and (4) Veterans' Affairs. Specifies increased outlays for the Committee on Agriculture, Nutrition, and Forestry. Establishes a ceiling on the increase to the statutory limit on the public debt required to be reported by the Senate Committee on Finance. Directs the Senate Committee on Finance to report a reconciliation bill proposing changes in laws necessary to reduce revenues by up to specified amounts in FY 2002 and for the period of FY 1998 through 2002. Sets forth requirements relating to: (1) treatment of congressional pay-as-you-go-requirements; and (2) deficit neutral adjustments and limited flexibility on adjustments. (Sec. 105) Sets forth deadlines for submission of specified House committee recommendations to the House Committee on the Budget, and for that Committee's report to the House of a reconciliation bill without any substantive revision of such recommendations, for the separate categories of entitlement reform and of tax relief and miscellaneous reforms. Specifies outlay limits, with respect to entitlement reform and to tax relief and miscellaneous reforms, for FY 1998 through 2002, for the House committees on: (1) Agriculture; (2) Banking and Financial Services; (3) Commerce; (4) Education and the Workforce; (5) Government Reform and Oversight; (6) Transportation and Infrastructure; (7) Veterans' Affairs; and (8) Ways and Means. Establishes deficit reduction amounts for the House Committee on Government Reform and Oversight for FY 1998 through 2002 with respect to the two reform categories. Lists amounts of revenue increases and increases in the statutory limit on the public debt to be reported by the House Ways and Means Committee. Sets forth budgetary limits on a children's health initiative. Title II: Budgetary Restraints and Rulemaking - Establishes certain discretionary spending limits in the Senate for each of FY 1998 through 2002 for defense, nondefense, and discretionary categories. Sets forth related provisions regarding points of order in the Senate, waivers, and appeals. Declares that the levels of new budget authority, outlays, new entitlement authority, revenues, and deficits for a fiscal year shall be determined on the basis of Senate Budget Committee estimates. (Sec. 202) Requires the chairmen of the House or Senate Budget Committees to increase the appropriate allocations, budgetary aggregates, and discretionary limits (in the Senate) specified in appropriations measures reported in the Senate in FY 1998 through 2002, and in the House in FY 1998, by the amount of budget authority in such a measure that is the dollar equivalent, in terms of Special Drawing Rights, of: (1) an increase in the U.S. quota as part of the International Monetary Fund Eleventh General Review of Quotas; or (2) any increase in the maximum amount available to the Secretary of the Treasury pursuant to the Bretton Woods Agreement Act with respect to new arrangements to borrow. (Sec. 203) Authorizes the chairmen of the House or Senate Budget Committees to increase by up to a specified amount any allocation in a reported FY 1998 appropriations measure (or conference report) that includes an appropriation for the renewal of expiring contracts for Section 8 housing assistance. (Sec. 204) Permits the chairmen of the House or Senate Budget Committees to increase by up to specified amounts for FY 1998 and for the period of FY 1998 through 2002 the allocation for any legislation reported (including a conference report) by specified House or Senate committees to reform the Superfund program to facilitate the cleanup of hazardous waste sites. (Sec. 205) Authorizes limited increases in allocations for priority Federal land acquisitions and exchanges reported in appropriations measures in FY 1998. (Sec. 206) Directs the chairmen of the House or Senate Budget Committees to increase by up to specified amounts for FY 1998 through 2002 (FY 1998 in the House) the allocation for any reported appropriations measure (including a conference report) that includes an appropriation for arrearages for international organizations, international peacekeeping, and multilateral development banks. Permits increases in discretionary spending limits in the Senate for such purposes but limits the total amount of budget authority and outlays flowing from such adjustments. (Sec. 207) Authorizes, upon the enactment of specified legislation, the establishment of certain reserve funds, for FY 1998 through 2002, for: (1) intercity passenger rail transportation; (2) mass transit; (3) highways; and (4) surface transportation. (Sec. 211) Sets forth provisions regarding budgetary treatment of the sale of Government assets. Title III: Sense of the House of Representatives - Expresses the sense of the House regarding: (1) baselines; (2) repayment of the Federal debt; (3) creation of a commission on long-term budgetary problems; (4) corporate welfare; and (5) the desired absence of numerical limits on the States' grant of domestic violence good cause waivers with respect to certain welfare assistance requirements.

Bill· SS. 778 (105th)open

African Growth and Opportunity Act

United States · United States Congress · 21 May 1997

African Growth and Opportunity Act - Declares the support of the Congress for the economic self-reliance of Sub-Saharan African countries committed to economic and political reform, market incentives and private sector growth, eradication of poverty, and the importance of women to economic growth and development. (Sec. 4) Makes a sub-Saharan African country eligible to participate in programs, projects, or activities, or receive assistance or other benefits under this Act for a fiscal year only if the President determines, according to specified evidence, that it has established, or is making continual progress toward establishing, a market-based economy. Directs the President to monitor and review eligible sub-Saharan countries that are in need of making continual progress in meeting one or more of this Act's requirements. Makes ineligible to participate in programs or receive assistance or other benefits under this Act any countries that have not made progress in meeting such requirements. (Sec. 5) Expresses the sense of the Congress that sustained economic growth in sub-Saharan Africa depends upon the development of a receptive environment for trade and investment through the continued support by the U.S. Agency for International Development (AID) of programs that help to create this environment. Sets forth declarations of policy with respect to assistance provided to sub-Saharan Africa through the Development Fund for Africa and the African Development Foundation. Amends the Foreign Assistance Act of 1961 to provide: (1) additional program authorities to include assistance to promote democratization and strengthen conflict resolution; and (2) increased program flexibility through presidential waivers of certain requirements (except those for certain child survival activities). (Sec. 6) Directs the President to convene annual high-level meetings between U.S. Government officials and officials of the governments of sub-Saharan African countries to foster close economic ties between them. Directs the President to establish a United States-Sub-Saharan Africa Trade and Economic Cooperation Forum. Authorizes appropriations. (Sec. 7) Directs the President to develop a plan meeting certain requirements to enter into one or more trade agreements with certain eligible sub-Saharan African countries to establish a United States-Sub-Saharan Africa Free Trade Area. (Sec. 8) Expresses the sense of the Congress that reform of trade policies in sub-Saharan Africa that removes structural impediments to trade, consistent with the World Trade Organization (WTO), can lay the groundwork for sustained growth there in both textile and apparel exports. Directs the United States, pursuant to the Agreement on Textiles and Clothing, to eliminate the existing quotas on textile and apparel exports to the United States from Kenya and Mauritius, provided they adopt a visa system to guard against the unlawful transshipment of such goods. Directs the President to: (1) continue the existing no quota policy for sub-Saharan African countries; and (2) report to the Congress on the growth in textiles and apparel exports to the United States from such countries in order to protect U.S. consumers, workers, and textile manufacturers from economic injury on account of the no quota policy. (Sec. 9) Amends the Trade Act of 1974 to authorize the President to provide duty-free treatment for any non-import-sensitive article that is the growth, product, or manufacture of an eligible sub-Saharan African beneficiary developing country. Waives the competitive need limitation with respect to eligible countries in sub-Saharan Africa. Extends duty-free treatment to sub-Saharan African beneficiary developing countries through May 31, 2007. (Sec. 10) Expresses the sense of the Congress that: (1) specified international financial institutions and their programs are vital to the economic growth and development of sub-Saharan African countries; (2) the executive branch should extinguish concessional debt owed to the United States by the poorest sub-Saharan countries; and (3) the Congress supports the efforts of the executive branch to secure agreement from such institutions to maximize debt reduction for such countries as part of the multilateral initiative known as the Heavily Indebted Poor Countries (HIPC) initiative. Supports and encourages the implementation of specified initiatives through AID and the Trade Development Agency, including: (1) the formation of American-African business partnerships; (2) technical assistance to promote trade reforms; (3) agricultural market liberalization; (4) trade promotion; and (5) trade in services. (Sec. 11) Expresses the sense of the Congress that the Overseas Private Investment Corporation (OPIC) should exercise its authorities to initiate two or more equity funds in support of projects in sub-Saharan African countries, particularly projects that expand opportunities for women entrepreneurs and employment for the poor. (Sec. 12) Amends the Foreign Assistance Act of 1961 to revise the composition of the Board of Directors of OPIC to require at least one of the eight presidentially-appointed Directors to have extensive private sector experience in sub-Saharan Africa. Directs the Board to increase financial assistance in sub-Saharan Africa. Amends the Export-Import Bank Act of 1945 to make similar changes with respect to the Export-Import Bank of the United States. (Sec. 13) Directs the President to establish the position of Assistant United States Trade Representative within the Office of the United States Trade Representative to focus on trade issues relating to sub-Saharan Africa.

Bill· SS. 775 (105th)referred

A bill to amend the Internal Revenue Code of 1986 to exclude gain or loss from the sale of livestock from the computation of capital gain net income for purposes of the earned income credit.

United States · United States Congress · 21 May 1997

Amends the Internal Revenue Code to exclude gain or loss from the sale of livestock (as defined in existing provisions relating to property used in the trade or business and involuntary conversions) from the definition of "disqualified income" for purposes of the earned income credit. Applies the amendment to taxable years beginning after December 31, 1995.

Bill· HRH.R. 1692 (105th)open

To require the Secretary of Health and Human Services to waive the 3-day prior hospitalization requirement for coverage of skilled nursing facility services in the case of individuals classified within certain diagnosis-related groups.

United States · United States Congress · 21 May 1997

Directs the Secretary of Health and Human Services to provide for coverage under part A (Hospital Insurance) of title XVIII (Medicare) of the Social Security Act of extended care services for individuals with a condition classifiable within a select diagnosis-related group (DRG). (Waives the three-day prior hospitalization requirement for coverage of skilled nursing facility services for such DRGs.) Requires the Secretary to select at least five DRGs beginning in FY 1998, and additional qualified groups for subsequent fiscal years. Provides for recovery of excessive expenditures by: (1) reductions in payable amounts for post-hospital extended care services in the following fiscal year; and (2) rescission of the selection of any DRG.

Bill· HRH.R. 1694 (105th)open

Higher Education Savings Credit Act of 1997

United States · United States Congress · 21 May 1997

Higher Education Savings Credit Act of 1997 - Amends the Internal Revenue Code to establish a credit for contributions made by a taxpayer to a qualifying higher education investment account for a dependent not over 18 years old. Determines such credit upon a maximum annual contribution of $500 per account holder and an age-based percentage. Excludes account distributions from gross income if used to pay the holder's qualified higher education expenses, and provides for an additional tax and credit recapture (with exceptions) if used otherwise. Sets forth related reporting requirements.

Bill· HRH.R. 1698 (105th)referred

School-Based Children Health Insurance Act of 1997

United States · United States Congress · 21 May 1997

School-Based Children Health Insurance Act of 1997 - Amends the Internal Revenue Code to establish an income-based, refundable tax credit for the purchase of school-based health insurance coverage for qualified children. Directs the Secretary of Health and Human Services to provide financial assistance to States for health insurance outreach and information programs. Authorizes appropriations.

Bill· SS. 770 (105th)referred

Domestic Oil and Gas Preservation Act

United States · United States Congress · 20 May 1997

Domestic Oil and Gas Preservation Act - Amends the Internal Revenue Code to allow an election to treat geological and geophysical expenses incurred in connection with the exploration for, or development of, domestic oil or gas as expenses which are not chargeable to capital account. Repeals provisions relating to a limitation regarding the percentage depletion in the case of oil and gas wells. Allows an election to treat delay rental payments (amounts paid for the privilege of deferring development of an oil or gas well) incurred in connection with the development of domestic oil or gas as payments that are not chargeable to capital account, allowing any payments so treated as a deduction. Requires, in the case of a tax shelter, treating economic performance regarding amounts paid during the taxable year for drilling an oil or gas well as having occurred within a taxable year if drilling commences before the close of the 180th (currently, the 90th) day after the close of the taxable year. Amends provisions relating to an enhanced oil recovery credit to include hydro injection in the definition of "qualified enhanced oil recovery project."

Bill· HRH.R. 1664 (105th)open

Safe Bridges Reconstruction and Restoration Act of 1997

United States · United States Congress · 20 May 1997

Safe Bridges Reconstruction and Restoration Act of 1997 - Amends Federal transportation law to direct the Secretary of Transportation to set aside $800 million per fiscal year for obligation at the Secretary's discretion for the highway bridge replacement and rehabilitation program.

Bill· HRH.R. 1675 (105th)open

To require the Secretary of the Air Force to conduct a study to identify Air Force property suitable for exchange to acquire land authorized for addition to Shaw Air Force Base in the State of South Carolina.

United States · United States Congress · 20 May 1997

Amends the National Defense Authorization Act for Fiscal Year 1996 to direct the Secretary of the Air Force to conduct a study and report to the Congress on Air Force real property which would be suitable for a land exchange to enable the Air Force to acquire certain real property additions to Shaw Air Force Base, South Carolina.

Bill· HRH.R. 1684 (105th)open

Farmer and Entrepreneur Estate Tax Relief Act of 1997

United States · United States Congress · 20 May 1997

Farmer and Entrepreneur Estate Tax Relief Act of 1997 - Amends the Internal Revenue Code to increase the unified estate and gift tax credit.

Bill· HRH.R. 1674 (105th)open

Death Tax and Legal Fee Relief Act of 1997

United States · United States Congress · 20 May 1997

Death Tax and Legal Fee Relief Act of 1997 - Amends the Internal Revenue Code to increase the unified credit against estate and gift taxes and provide for an additional increase based upon the unused credit of a predeceased spouse. Provides for a five-year deferral of interest on estate tax installment payments relating to a small business (closely held business with not more than $20 million in assets).

Bill· HRH.R. 1666 (105th)referred

To amend title 49, United States Code, to eliminate provisions of Federal law that provide special support for, or burdens on, the operation of Amtrak as a passenger rail carrier, and for other purposes.

United States · United States Congress · 20 May 1997

Amends Federal transportation law to repeal specified authorities with respect to the National Railroad Passenger Corporation (Amtrak), eliminating intercity rail passenger transportation (while retaining Amtrak commuter services). Repeals a provision which provides for the judicial review of the discontinuance of a route, a train, or transportation, or the reduction in the frequency of transportation by Amtrak. Authorizes appropriations in decreasing amounts over four fiscal years. Repeals specified laws that apply to Amtrak operations, abolishing the Board of Directors. Declares that the United States relinquishes all rights held in any stock, note of indebtedness, or mortgage issued by or entered into with Amtrak. Repeals: (1) certain provisions which require Amtrak to make an agreement to avoid duplicating employee functions; (2) all authority for operation of the Amtrak route system; and (3) all authority for the Northeast Corridor improvement program. Prohibits a rail carrier employee whose employment is terminated as a result of a discontinuance of intercity rail passenger service from receiving any wage continuation or severance benefit in excess of six months pay. Authorizes a rail carrier to require an employee whose position is eliminated as a result of such discontinuance to transfer to any vacant position for which he or she can be made qualified on any part of the rail carrier's system. (Sec. 8) Amends the Federal Employers' Liability Act (or Employers' Liability Act) to declare that it shall not apply to common carriers to the extent they provide rail passenger transportation.

Bill· HRH.R. 1680 (105th)referred

Married Couples Home Sale Equity Act of 1997

United States · United States Congress · 20 May 1997

Married Couples Home Sale Equity Act of 1997 - Amends the Internal Revenue Code to allow a husband and wife to make separate elections regarding the one-time exclusion of gain from the sale of a principal residence. Modifies the dollar limitations.

Bill· HRH.R. 1672 (105th)referred

To amend the Internal Revenue Code of 1986 to permit tax-free distributions of property by cooperative housing corporations to its shareholders, and for other purposes.

United States · United States Congress · 20 May 1997

Amends the Internal Revenue Code to permit a tax-free (to corporation and shareholder) distribution of a dwelling unit by a cooperative housing corporation to its shareholder in exchange for the shareholder's stock in such corporation.

Bill· HRH.R. 1682 (105th)referred

To amend the Internal Revenue Code of 1986 to provide for an exclusion of capital gains upon the sale of a principal residence.

United States · United States Congress · 20 May 1997

Amends the Internal Revenue Code to exclude up to $250,000 ($500,000 jointly) of gain on the sale of a principal residence if owned and used as the principal residence for periods aggregating at least two years during the five-year period prior to sale or exchange. Sets forth special rules relating to: (1) jointly held property; (2) a deceased spouse; (3) a cooperative housing tenant-stockholder; (4) partial principal residence use; (5) determination of marital status; (6) acquisition after involuntary conversion; and (6) periods of out-of-residence health care.

Bill· HRH.R. 1662 (105th)referred

To amend the Internal Revenue Code of 1986 with respect to the treatment of effectively connected investment income of insurance companies.

United States · United States Congress · 20 May 1997

Amends the Internal Revenue Code to revise provisions determining the effectively connected net investment income of foreign companies carrying on insurance business in the United States. Requires such companies to recompute their effectively connected net investment income for taxable years beginning after December 31, 1996. Provides for increases (or decreases, as appropriate) in such income where the recomputed amount exceeds (or is less than) the income for the recomputed year. Requires payment (or receipt) of interest on the underpayment (or overpayment) of adjusted amounts.

Bill· HRH.R. 1665 (105th)referred

To amend the Internal Revenue Code of 1986 to increase the small issuer exemption from pro rata allocation of interest expense of financial institutions to tax-exempt interest.

United States · United States Congress · 20 May 1997

Amends the Internal Revenue Code to increase the small issuer exemption from pro rata allocation of interest expense of financial institutions to tax-exempt interest.

Bill· HRH.R. 1667 (105th)referred

To amend the Internal Revenue Code of 1986 to increase the amount of the dependent care credit and to allow such credit for respite care expenses.

United States · United States Congress · 20 May 1997

Amends the Internal Revenue Code to increase the income tax credit for employment-related dependent care expenses. Adds respite care expenses to the credit's scope.

Bill· SS. 764 (105th)referred

Mass Transit Amendments Act of 1997

United States · United States Congress · 19 May 1997

Mass Transit Amendments Act of 1997 - Amends Federal transportation law to add to the general purposes of mass transportation programs: (1) providing financial assistance to State and local governments to help carry out national goals related to mobility for individuals seeking employment or job training in order to end their reliance on public assistance programs; and (2) achieving demonstrable reductions in energy consumption and air pollution through increased reliance on mass transportation. (Sec. 4) Authorizes the Secretary of Transportation to make grants to States, local governments, and private nonprofit organizations to provide access, through the use of vans, buses, or train routes, to suburban employment and job training opportunities to residents of distressed urban and rural areas. Defines "distressed urban area" as any urban area with a population over 50,000 that meets certain Housing and Urban Development criteria. Authorizes appropriations. (Sec. 5) Requires metropolitan planning organizations in developing transportation plans and programs to consider, among other things, the transportation requirements of a strategy to revitalize the Nation's inner cities by creating new employment, job training, housing, mobility, and other economic opportunities in urban areas. (Sec. 6) Makes mass transportation block grants for capital projects and related equipment and facilities available for maintaining capital assets. (Sec. 7) Authorizes urbanized areas with a population of less than 200,000 and rural areas to use capital project block grants for either operating or capital needs. (Sec. 8) Extends for an additional four-year period discretionary grants and loans: (1) for fixed guideway modernization and capital projects for new fixed guideway systems and extensions to existing systems; and (2) to replace, rehabilitate, and buy buses and related equipment and to construct bus-related facilities. (Sec. 9) Declares that the Secretary may authorize a recipient who no longer needs an asset acquired with mass transportation block grant assistance to sell (currently, transfer) such asset and retain the proceeds of the sale if certain conditions are met. (Sec. 10) Authorizes appropriations through FY 2002 for: (1) certain apportionments to urbanized areas for fixed guideway modernization (nondiscretionary); (2) specified mass transportation programs; (3) the national mass transportation institute; (4) university research institutes; and (5) transportation centers (including set-asides). (Sec. 11) Amends the Internal Revenue Code to require the Secretary, for apportionment adjustment purposes, to estimate quarterly the net highway receipts of the Mass Transit Account of the Highway Trust Fund (HTF) for the 24-month period (currently, 12-month period) beginning at the close of the next fiscal year. (Sec. 12) Establishes in the HTF the Intercity Passenger Rail Account. Transfers to the Account certain portions of the amounts attributable to taxes for gasoline, diesel fuel, special motor fuels, compressed natural gas, methanol and ethanol fuel, and nongasoline noncommercial aviation fuels. Makes amounts in the Account available to finance qualified expenses of the National Railroad Passenger Corporation (Amtrak) and each non-Amtrak State. (Redistributes to the Intercity Passenger Rail Account and the Mass Transit Account the 4.3 cents per gallon gasoline tax which is currently going to deficit reduction.) Increases the rate of transfer to the Mass Transit Account. Extends until October 1, 2002, the availability of Mass Transit Account funds for authorized expenditures. Increases the HTF financing rate for gasoline, special motor fuels, and diesel fuel.

Resolution· SCONRESS.Con.Res. 27 (105th)open

An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal years 1998, 1999, 2000, 2001, and 2002.

United States · United States Congress · 19 May 1997

TABLE OF CONTENTS: Title I: Levels and Amounts Title II: Budgetary Restraints and Rulemaking Title III: Sense of the Senate Sets forth the congressional budget for the Government for FY 1998. Sets forth appropriate budgetary levels for FY 1999 through 2002. Title I: Levels and Amounts - Lists recommended budgetary levels and amounts, for FY 1998 through 2002, with respect to: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) public debt; (6) new direct loan obligations; and (7) new primary loan guarantee commitments. (Sec. 102) Sets forth for such fiscal years specified amounts of revenues and of outlays of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund. (Sec. 103) Lists the appropriate levels of new budget authority, budget outlays, new direct loan obligations, and new primary loan guarantee commitments for each of specified major functional categories for FY 1998 through 2002. (Sec. 104) Establishes reconciliation procedures. Sets forth a deadline for submission of specified Senate committee recommendations to the Senate Committee on the Budget. Requires that Committee to report to House a reconciliation bill without any substantive revision of such recommendations. Specifies outlay reductions, for each of FY 1998 through 2002, for the Senate committees on: (1) Banking, Housing, and Urban Affairs; (2) Commerce, Science, and Transportation; (3) Energy and Natural Resources; (4) Finance; (5) Governmental Affairs; (6) Labor and Human Resources; and (7) Veterans' Affairs. Specifies increased outlays for the Committee on Agriculture, Nutrition, and Forestry. Directs the Senate Committee on Finance to report a reconciliation bill proposing changes in laws necessary to reduce revenues by up to specified amounts in FY 2002 and for the period of FY 1998 through 2002. Sets forth requirements relating to: (1) treatment of congressional pay-as-you-go-requirements; and (2) deficit neutral adjustments and limited flexibility on adjustments. Title II: Budgetary Restraints and Rulemaking - Establishes certain discretionary spending limits for each of FY 1998 through 2002 for defense and nondefense categories. Sets forth related provisions regarding points of order in the Senate, waivers, and appeals. Declares that the levels of new budget authority, outlays, new entitlement authority, revenues, and deficits for a fiscal year shall be determined on the basis of Committee on the Budget estimates. (Sec. 202) Requires the chairman of the Committee on the Budget to increase the appropriate allocations, budgetary aggregates, and discretionary limits specified appropriations measures reported in any of Fy 1998 through 2002 by the amount of budget authority in such a measure that is the dollar equivalent, in terms of Special Drawing Rights, of: (1) an increase in the U.S. quota as part of the International Monetary Fund Eleventh General Review of Quotas; or (2) any increase in the maximum amount available to the Secretary of the Treasury pursuant to the Bretton Woods Agreement Act with respect to new arrangements to borrow. (Sec. 203) Authorizes the chairman of the Committee on the Budget to increase by up to a specified amount any allocation in an FY 1998 appropriations measure (or conference report) which fully funds all contract renewal obligations for FY 1998 with respect to Section 8 Housing Assistance. (Sec. 204) Authorizes the chairman of the Committee on the Budget to increase by up to specified amounts for FY 1998 and for the period of FY 1998 through 2002, the allocation for any legislation reported (including a conference report) that provides funding to reform the Superfund program to facilitate the cleanup of hazardous waste sites. (Sec. 205) Authorizes the chairman of the Committee on the Budget to increase by up to a specified amount for FY 1998 the allocation for any reported legislation (including a conference report) that provides for priority Federal land acquisitions and exchanges under the National Park Service's Land Acquisition and State Assistance account. (Sec. 206) Authorizes the chairman of the Committee on the Budget to increase by up to specified amounts for FY 1998 through 2000 the allocation for any reported appropriations measure (including a conference report) that includes an appropriation for arrearages for international organizations, international peacekeeping, and multilateral development banks. (Sec. 207) Authorizes, upon the enactment of specified legislation, the establishment of certain reserve funds, for FY 1998 through 2002, for: (1) intercity passenger rail transportation; (2) mass transit; and (3) highways. Title III: Sense of the Senate - Expresses the sense of the Senate regarding: (1) long term entitlement reforms, including accuracy in determining changes in the cost of living; (2) tactical fighter aircraft acquisition strategy; (3) immediate 100 percent tax deductibility of the health insurance costs of the self-employed (to provide for their children's health coverage); (4) Senate opposition to use of a Medicaid per capita cap; (5) use of added savings under a balanced budget for deficit reduction; (6) reform elements to ensure fairness in Medicare; (7) assistance to Lithuania and Latvia; (8) establishment of a National Commission on Higher Education; (9) a lockbox requirement to ensure all savings from Medicare reform are used to keep the Medicare program solvent; and (10) additional programmatic changes to ensure that the primary purpose of the earned income credit is achieved without wasting billions of taxpayer dollars on fraud and error.

Resolution· HRESH.Res. 152 (105th)passed

Providing for consideration of the concurrent resolution (H. Con. Res. 84) establishing the congressional budget for the United States Government for fiscal year 1998 and setting forth appropriate budgetary levels for fiscal years 1999, 2000, 2001, and 2002.

United States · United States Congress · 19 May 1997

Sets forth the rule (modified closed) for the consideration of H. Con. Res. 84 (congressional budget).

Resolution· HCONRESH.Con.Res. 84 (105th)passed

Establishing the congressional budget for the United States Government for fiscal year 1998 and setting forth appropriate budgetary levels for fiscal years 1999, 2000, 2001, and 2002.

United States · United States Congress · 18 May 1997

TABLE OF CONTENTS: Title I: Levels and Amounts Title II: Reconciliation Instructions Title III: Budget Enforcement Title IV: Sense of Congress Provisions Establishes the congressional budget for the Government for FY 1998. Sets forth appropriate budgetary levels for FY 1999 through 2002. Title I: Levels and Amounts - Lists recommended budgetary levels and amounts, for FY 1998 through 2002, with respect to: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) public debt; (6) new direct loan obligations; and (7) new primary loan guarantee commitments. (Sec. 102) Lists the appropriate levels of new budget authority, budget outlays, new direct loan obligations, and new primary loan guarantee commitments for each of specified major functional categories for FY 1998 through 2002. Title II: Reconciliation Instructions - Establishes reconciliation procedures. Provides instructions for two separate reconciliation bills, one for entitlement reforms and the other for tax relief and miscellaneous reforms. Permits the consideration of one omnibus reconciliation bill, in the event Senate procedures preclude the consideration of two separate bills. Sets forth deadlines for submission of specified House committee recommendations to the House Committee on the Budget, and for that Committee's report to House of a reconciliation bill without any substantive revision of such recommendations, for the separate categories of entitlement reform and of tax relief and miscellaneous reforms. Specifies outlay reductions, with respect to entitlement reform and to tax relief and miscellaneous reforms, for each of FY 1998 through 2002, for the House committees on: (1) Agriculture; (2) Banking and Financial Services; (3) Commerce; (4) Education and the Workforce; (5) Government Reform and Oversight; (6) Transportation and Infrastructure; (7) Veterans' Affairs; and (8) Ways and Means. Sets forth budgetary limits on a children's health initiative. Title III: Budget Enforcement - Sets forth requirements relating to: (1) a deficit-neutral reserve fund for surface transportation; (2) sale of government assets; and (3) congressional treatment of budget allocations for legislation concerning an environmental reserve fund and land acquisitions and exchanges. Title IV: Sense of Congress Provisions - Expresses the sense of the Congress regarding: (1) baselines; (2) repayment of the Federal debt; (3) creation of a commission on long-term budgetary problems; (4) corporate welfare; and (5) the desired absence of numerical limits on the States' grant of domestic violence good cause waivers in cases where individual compliance with certain welfare assistance requirements would make it more difficult for individuals to escape domestic violence. Declares that individuals granted such waivers should be excluded rom a State's 20 percent hardship exemption.

Bill· HRH.R. 1657 (105th)open

Highway Restoration Act of 1997

United States · United States Congress · 16 May 1997

Highway Restoration Act of 1997 - Amends the Federal aid highway program to: (1) increase to $800 million per fiscal year the amount to be set aside for 4R projects (projects for highway resurfacing, restoration, rehabilitation, or reconstruction); (2) include additions to the Interstate System within such 4R projects; and (3) repeal set-aside amounts for FY 1992 through 1994 for improvements on the Kennedy Expressway in Chicago, Illinois.

Bill· HRH.R. 1652 (105th)referred

To amend the Internal Revenue Code of 1986 to clarify the exemption from the self-employment tax for termination payments received by former life insurance salesmen.

United States · United States Congress · 16 May 1997

Amends the Internal Revenue Code and the Social Security Act to exempt from consideration as self-employed income under such Acts specified termination payments received by former life insurance salespeople.

Bill· HRH.R. 1651 (105th)referred

To amend the Internal Revenue Code of 1986 to require gain recognition in the case of certain transactions that are equivalent to sales of financial instruments.

United States · United States Congress · 16 May 1997

Amends the Internal Revenue Code to provide that if there is a constructive sale of an appreciated financial position: (1) a taxpayer shall recognize gain as if such position were sold for its fair market value on the date of the constructive sale; and (2) for purposes of the treatment of gains and losses for periods after the constructive sale, proper adjustment shall be made in the amount of any gain or loss subsequently realized with respect to such position for any gain taken into account by reason of the above and the holding period of such position shall be determined as if such position were originally acquired on the date of such constructive sale.

Bill· SS. 754 (105th)referred