Taxation

Providing for consideration of the concurrent resolution (H. Con. Res. 112) establishing the budget for the United States Government for fiscal year 2013 and setting forth appropriate budgetary levels for fiscal years 2014 through 2022, and providing for consideration of motions to suspend the rules.

United States · United States Congress · 27 March 2012

Sets forth the rule for consideration of the concurrent resolution (H. Con. Res. 112) establishing the budget for the United States Government for fiscal year 2013 and setting forth appropriate budgetary levels for fiscal years 2014 through 2022, and providing for consideration of motions to suspend the rules.

Small Business Jobs and Tax Relief Act

United States · United States Congress · 26 March 2012

Small Business Jobs and Tax Relief Act - Amends the Internal Revenue Code to allow certain employers a tax credit for 10% of the excess (if any) of: (1) the wages and compensation paid to their employees in 2012; over (2) the amount of such wages paid in 2011, up to a maximum amount of $5 million. Extends for one year the 100% bonus depreciation allowance for business assets. Increases the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.

Adjusting for Income Disparity Act of 2012

United States · United States Congress · 26 March 2012

Adjusting for Income Disparity Act of 2012 - Amends the Internal Revenue Code to allow an individual taxpayer a new tax credit to compensate for income disparity. Sets the amount of such credit at the applicable credit amount ($2,500 to $5,000) reduced by a specified percentage (3 1/3% to 6 2/3%) of the excess of the taxpayer's modified adjusted gross income over a specified threshold ($15,000 to $30,000), based on the number of the taxpayer's dependents. Accelerates to December 31, 2011 (currently, December 31, 2012), the termination date for the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) and the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) providing for a reduction in capital gain and dividend tax rates.

Establishing the budget for the United States Government for fiscal year 2013 and setting forth appropriate budgetary levels for fiscal year 2012 and fiscal years 2014 through 2022.

United States · United States Congress · 26 March 2012

Sets forth the congressional budget for the federal government for FY2013, including the appropriate budgetary levels for FY2012, and FY2014-FY2022. Lists recommended budgetary levels and amounts for FY2012-FY2022with respect to: (1) federal revenues, (2) new budget authority, (3) budget outlays, (4) deficits (on-budget), (5) debt subject to limit, and (6) debt held by the public. Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY2012-FY2022. Sets forth reconciliation instructions for the House Committees on: (1) Agriculture, (2) Education and the Workforce, (3) Energy and Commerce, (4) Financial Services, (5) Natural Resources, (6) Oversight and Government Reform, and (7) Ways and Means. Requires the House Committee on the Budget to report a reconciliation bill that slows the growth in mandatory spending and achieves deficit reduction. Requires each House Committee to identify savings amounting to 1% of total mandatory spending under its jurisdiction from activities determined to be wasteful, unnecessary, or lower-priority. Establishes discretionary spending limits for FY2013-FY2022. Makes it out of order in the House to consider any legislation that causes discretionary budget authority to exceed such limits. Prohibits House legislation that would require advance appropriations, except for certain FY2013-FY2014 programs, projects, activities, or accounts. Prescribes requirements for legislation reported out of committee and designated as an emergency requirement. Requires the Joint Committee on Taxation to calculate the impact of any proposal to change federal revenues on Gross Domestic Product (GDP), total domestic employment, and other specified economic variables. Allocates $931 billion of new budget authority for FY2013 to the House Committee on Appropriations. Prohibits the chair of the House Committee on the Budget from taking into account the provisions of any piece of legislation which propose to increase revenue or offsetting collections if the net effect of the bill is to increase the level of revenue or offsetting collections beyond the level assumed in this budget resolution. Requires the chair to maintain a Budget Protection Mandatory Account and a Budget Protection Discretionary Account. Requires the Majority Leader to introduce rescission bills quarterly. Prescribes legislative procedures for their floor consideration. Expresses the sense of the House regarding: (1) baseline revenue projections, and (2) long-term budget projections. Amends Rule XXI (Restrictions on Certain Bills) of the House of Representatives to allow an amendment to an appropriations bill that amends existing law if it is a germane amendment to an authorizing provision or a line item appropriation of the bill under consideration. Establishes an earmark moratorium for FY2012-FY2013 for legislation providing or authorizing discretionary budget authority, credit or other spending authority, providing a federal tax deduction, credit, or exclusion, or modifying the Harmonized Tariff Schedule in FY2012-FY2013. Prohibits the House Committee on Rules from reporting a rule or order waiving such moratorium. Declares the policy of this resolution on: (1) health care law repeal, (2) bailouts of state and local governments, (3) means-tested welfare programs, (4) reforming the federal budget process, (5) reforming federal regulations, (6) Medicare reform, (7) deficit reduction through cancellation of unobligated balances, and (8) block granting Medicaid to the states.

ENERGY AND WATER DEVELOPMENT APPROPRIATIONS FOR FISCAL YEAR 2012

United States · United States Senate · 23 March 2012

Establishing the budget for the United States Government for fiscal year 2013 and setting forth appropriate budgetary levels for fiscal years 2014 through 2022.

United States · United States Congress · 23 March 2012

Sets forth the congressional budget for the federal government for FY2013, including the appropriate budgetary levels for FY2014-FY2022. Lists recommended budgetary levels and amounts for FY2013-FY2022 with respect to: (1) federal revenues, (2) new budget authority, (3) budget outlays, (4) deficits (on-budget), (5) debt subject to limit, and (6) debt held by the public. Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY2013-FY2022. Sets forth reconciliation instructions for the House Committees on: (1) Agriculture, (2) Energy and Commerce, (3) Financial Services, (4) the Judiciary, (5) Oversight and Government Reform, and (6) Ways and Means. Directs the House Committee on the Budget to report a bill that: (1) replaces the sequester for enforcement of the $1.2 trillion budget goal established by the Budget Control Act of 2011, and (2) includes language making its application contingent upon the enactment of the required reconciliation bill. Lists recommended budgetary levels and amounts for FY2030, FY2040, and FY2050 as a percent of the federal gross domestic product (GDP) with respect to: (1) federal revenues, (2) budget outlays, (3) deficits, and (4) debt held by the public. Authorizes the chair of the House Committee on the Budget to revise the allocations, aggregates, and other appropriate levels in this resolution (create a reserve fund) for the budgetary effects of any legislation repealing the Patient Protection and Affordable Care Act or the Health Care and Education Reconciliation Act of 2010. Authorizes a similar creation of certain deficit-neutral reserve funds for legislation concerning: (1) sustainable growth rate of the Medicare program, (2) revenue measures, (3) rural counties and schools, and (4) transportation. Prohibits House legislation that would require advance appropriations, except certain FY2014 programs, projects, activities, or accounts. Authorizes the chair of the House Committee on the Budget to create reserve funds for the budgetary effects of measures: (1) extending the Economic Growth and Tax Relief Reconciliation Act of 2001; (2) extending the Jobs and Growth Tax Relief Reconciliation Act of 2003; (3) adjusting the Alternative Minimum Tax (AMT) exemption amounts to prevent a larger number of taxpayers than those in tax year 2008 from being subject to the ATM or of allowing the use of nonrefundable personal credits; (4) extending the estate, gift, and generation-skipping transfer tax requirements of title III of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010; (5) granting a 20% deduction in income to small businesses; (6) implementing trade agreements; (7) repealing or reforming the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act of 2010; and (8) reforming the tax code and lowering tax rates. Disqualifies measures from such adjustments that increase: (1) the federal deficit between FY2013-FY2022; or (2) revenues over such period, other than by amending the Internal Revenue Code to repeal or modify the individual health care insurance mandate or modify the subsidies to purchase health insurance. Makes it out of order in the House to consider legislation reported out of committee (other than the Committee on Appropriations) if it has the net effect of increasing direct spending in excess of $5 billion for any of the first four consecutive 10-fiscal-year periods beginning with FY2023. Requires the joint explanatory statement accompanying the conference report on any budget resolution to include in its allocation to the House Committee on Appropriations amounts for the discretionary administrative expenses of the Social Security Administration (SSA) and of the Postal Service. Authorizes the chair to adjust allocations and aggregates for legislation reported by the Committee on Oversight and Government Reform that reforms the federal retirement system, but does not cause a net increase in the deficit for FY2013-FY2022. Requires legislation that transfers funds from the general fund of the Treasury to the Highway Trust Fund to be counted as new budget authority and outlays equal to the amount of the transfer in the fiscal year the transfer occurs. Requires a separate allocation in the House to the Committee on Appropriations for overseas contingency operations and the global war on terrorism (GWOT). Declares the policy of this resolution on: (1) Medicare reform, (2) Social Security, (3) deficit reduction through the cancellation of unobligated balances, and (4) deficit reduction through the reduction of unnecessary and wasteful spending. Expresses the sense of the House of Representatives on the importance of child support enforcement.

ENVIRONMENTAL PROTECTION AGENCY FISCAL YEAR 2013 BUDGET HEARING

United States · United States Senate · 22 March 2012

LEGISLATIVE BRANCH APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 22 March 2012

[H.A.S.C. No. 112-122] HEARING ON NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2013 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED TWELFTH CONGRESS SECOND SESSION

United States · United States House of Representatives · 22 March 2012

COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 22 March 2012

Paying a Fair Share Act of 2012

United States · United States Congress · 22 March 2012

Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of: (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits. Provides for a phase-in of such tax. Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2013. Expresses the sense of the Senate that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.

Small Business Health Care Tax Credit Improvement Act of 2012

United States · United States Congress · 22 March 2012

Small Business Health Care Tax Credit Improvement Act of 2012 - Amends the Internal Revenue Code, with respect to the tax credit for the health insurance expenses of small employers, to: (1) expand the eligibility of such employers for the credit by allowing them to have up to 50 full-time employees (currently, limited to no more than 25 full-time employees); (2) modify the phaseout of such credit based upon increases in the number of eligible employees and the employer's average annual wages; (3) increase the average annual wage limitation for 2012, 2013, and subsequent years; (4) repeal the requirement that employers make uniform contributions of at least 50% of each employee's premium to qualify for the tax credit; and (5) repeal the limitation on such credit based on the average premium in the small group market in the rating area in which an employee enrolls for coverage.

Surface Transportation Extension Act of 2012

United States · United States Congress · 22 March 2012

Surface Transportation Extension Act of 2012 - Directs the Secretary of Transportation (DOT) to reduce the amount apportioned for a surface transportation program, project, or activity for FY2012 by amounts apportioned or allocated under the Surface Transportation Extension Act of 2011, Part II for the period from October 1, 2011, through March 31, 2012. Amends the Surface Transportation Extension Act of 2011, Part II to continue through June 30, 2012, and authorizes appropriations through that date for, specified federal-aid highway programs under the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU), the SAFETEA-LU Technical Corrections Act of 2008, the Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA), and the Transportation Equity Act for the 21st Century. Includes among extended funds those for: (1) the surface transportation research, development, and deployment program; (2) training and education; (3) the Bureau of Transportation Statistics; (4) university transportation research; and (5) intelligent transportation systems (ITS) research. Subjects funding for such programs generally to the same manner of distribution, administration, limitation, and availability for obligation, however, at three-quarters of the total amount, as funds authorized to be appropriated for such programs and activities out of the Highway Trust Fund (HTF) for FY2011. Subjects contract authority, however, between October 1, 2011, and June 30, 2012, for such programs to a specified pro rata limitation on obligations included in any Act making appropriations for FY2012 or a portion of that fiscal year. Waives this obligation limitation, though, for emergency relief and for the equity bonus program. Extends the allocation of certain transportation program funds to: (1) states for specific programs, including the Interstate and National Highway System program, the Congestion Mitigation and Air Quality Improvement program, the highway safety improvement program, the Surface Transportation program, and the Highway Bridge program; and (2) the territories and Puerto Rico. Prohibits use of program funds for a high-speed MAGLEV system between Las Vegas, Nevada, and Anaheim, California. Authorizes the appropriation of $294,641,438 from the HTF (other than the Mass Transit Account) for administrative expenses of the federal-aid highway program for the period from October 1, 2011, through June 30, 2012. Amends SAFETEA-LU to extend for the same period the authorization of appropriations for specified National Highway Traffic Safety Administration (NHTSA) safety programs (including NHTSA administrative expenses) and Federal Motor Carrier Safety Administration (FMCSA) programs. Extends, from October 1, 2011, through June 30, 2012, the funding for hazardous materials (hazmat) research projects. Amends the Dingell-Johnson Sport Fish Restoration Act to continue for the same period of time the authorized distribution of funds under such Act for coastal wetlands, recreational boating safety, projects under the Clean Vessel Act of 1992, boating infrastructure projects, and the National Outreach and Communications Program. Extends, from October 1, 2011, through June 30, 2012, the allocation of capital investment grant funds for federal transit programs, including the metropolitan planning program and the state planning and research program. Extends the special rule authority of the Secretary to award urbanized area formula grants to finance the operating cost of equipment and facilities for use in public transportation in an urbanized area with a population of at least 200,000. Allocates, from October 1, 2011, through June 30, 2012, certain amounts for formula and bus grants and capital investment grants for: (1) certain new fixed guideway capital projects; (2) new fixed guideway ferry systems and extension projects in Alaska and Hawaii; (3) payments to the Denali Commission for docks, waterfront development projects, and related transportation infrastructure; (4) ferry boats or ferry terminal facilities; (5) a set-aside for the national fuel cell bus technology development program; (6) projects in nonurbanized areas; (7) intermodal terminal projects; and (8) bus testing. Extends the apportionment of nonurbanized area formula grants for public transportation on Indian reservations. Extends, from October 1, 2011, through June 30, 2012, the apportionment of capital investment grant funds for certain fixed guideway modernization projects. Extends for that same period the authorization appropriations from the HTF Mass Transit Account for: (1) formula and bus grant projects, (2) capital investment grants, (3) transit research, and (4) administration expenses. Extends, from October 1, 2011, through June 30,2012, certain SAFETEA-LU programs, including: (1) the contracted paratransit pilot program, (2) the public-private partnership pilot program, (3) project authorizations for final design and construction and preliminary engineering of specified fixed guideway projects, and (4) the elderly individuals and individuals with disabilities pilot program. Extends certain allocations for national research and technology programs. Amends the Internal Revenue Code to extend through June 30, 2012, authority for expenditures from the: (1) HTF Highway and Mass Transit accounts, (2) Sport Fish Restoration and Boating Trust Fund, and (3) Leaking Underground Storage Tank Trust Fund. Extends through June 30, 2012, excise taxes on: (1) fuel used by certain buses, (2) certain alcohol fuels, (3) gasoline (other than aviation gasoline) and diesel fuel or kerosene, (4) certain heavy trucks and trailers, and (5) tires. Extends the Leaking Underground Storage Tank Trust Fund tax. Extends through FY2013 the excise tax on certain heavy vehicles. Extends through June 30, 2012, the exemptions from excise taxes on: (1) certain sales, and (2) motor vehicles used by a state and local government. Extends the transfer of: (1) certain highway excise taxes to the HTF, and (2) motorboat fuel taxes from the HTF into the land and water conservation fund.

Small Business Health Care Tax Credit Improvement Act of 2012

United States · United States Congress · 22 March 2012

Small Business Health Care Tax Credit Improvement Act of 2012 - Amends the Internal Revenue Code, with respect to the tax credit for the health insurance expenses of small employers, to: (1) expand the eligibility of such employers for the credit by allowing them to have up to 50 full-time employees (currently, limited to no more than 25 full-time employees); (2) modify the phaseout of such credit based upon increases in the number of eligible employees and the employer's average annual wages; (3) increase the average annual wage limitation for 2012, 2013, and subsequent years; (4) repeal the requirement that employers make uniform contributions of at least 50% of each employee's premium to qualify for the tax credit; and (5) repeal the limitation on such credit based on the average premium in the small group market in the rating area in which an employee enrolls for coverage.

To amend the Internal Revenue Code of 1986 to provide a 3-year extension of the exclusion of income from the discharge of indebtedness on qualified principal residences.

United States · United States Congress · 22 March 2012

Amends the Internal Revenue Code to extend through 2015 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.

Workforce-Ready Educate America Act of 2012

United States · United States Congress · 22 March 2012

Workforce-Ready Educate America Act of 2012 - Amends the Internal Revenue Code to allow a $1,000-per-student tax credit to employers who partner with educational institutions to provide skills training. Limits the amount of such credit to $3,000 in a taxable year.

Wrongful Convictions Tax Relief Act of 2012

United States · United States Congress · 22 March 2012

Wrongful Convictions Tax Relief Act of 2012 - Amends the Internal Revenue Code to allow a wrongfully incarcerated individual an exclusion from gross income for civil damages, restitution, or other monetary awards received as compensation for a wrongful incarceration. Defines "wrongfully incarcerated individual" as: (1) an individual who was convicted of a criminal offense under federal or state law, who served all or part of a sentence of imprisonment relating to such offense, and who was pardoned, granted clemency, or granted amnesty because of actual innocence of the offense; or (2) an individual for whom the conviction for such offense was reversed or vacated and for whom the indictment, information, or other accusatory instrument for such offense was dismissed or who was found not guilty at a new trial after the conviction was reversed or vacated.

RENEWING THE PRESIDENT'S FISCAL YEAR 2013 BUDGET PROPOSAL FOR THE U.S. DEPARTMENT OF LABOR

United States · United States House of Representatives · 21 March 2012

[H.A.S.C. No. 112-120]HEARING ON NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2013 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED TWELFTH CONGRESS SECOND SESSION

United States · United States House of Representatives · 21 March 2012

[ERRATA]RENEWING THE PRESIDENT'S FISCAL YEAR 2013 BUDGET PROPOSAL FOR THE U.S. DEPARTMENT OF LABOR

United States · United States House of Representatives · 21 March 2012

FINANCIAL SERVICES AND GENERAL GOVERNMENT APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 21 March 2012

DEPARTMENT OF DEFENSE APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 21 March 2012

ENERGY AND WATER DEVELOPMENT APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 21 March 2012

THE HOMELAND SECURITY DEPARTMENT'S BUDGET SUBMISSION FOR FISCAL YEAR 2013

United States · United States Senate · 21 March 2012

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2013 AND THE FUTURE YEARS DEFENSE PROGRAM

United States · United States Senate · 21 March 2012

FINANCIAL SERVICES AND GENERAL GOVERNMENT APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 21 March 2012

Increasing American Jobs Through Greater Exports to Africa Act of 2012

United States · United States Congress · 21 March 2012

Increasing American Jobs Through Greater Exports to Africa Act of 2012 - Directs the President to establish a comprehensive U.S. strategy for public and private investment, trade, and development in Africa (including the Republic of South Sudan) that focuses, among other things, on: (1) increasing exports of U.S. goods and services to Africa by 200% in real dollar value within 10 years, (2) coordinating U.S. commercial interests with development priorities in Africa, (3) improving the competitiveness of U.S. businesses in Africa, and (4) encouraging a greater understanding among U.S. business and financial communities of the opportunities Africa holds for U.S. exports. Requires the President to designate a Special Africa Export Strategy Coordinator. Expresses the sense of Congress that the Secretary of Commerce and other high-level U.S. officials with responsibility for export promotion, financing, and development should conduct a joint trade mission to Africa. Directs the Secretary to ensure that at least 14 total U.S. and Foreign Commercial Service officers are assigned to U.S. embassies in Africa. Requires the Secretary to assign at least one full-time officer to the office of the U.S. Executive Director at each multilateral development bank to: (1) increase access of U.S. businesses to procurement contracts with the bank; and (2) facilitate access of such businesses to risk insurance, equity investments, consulting services, and lending provided by the bank. Prescribes increases in the number of: (1) Export-Import Bank of the United States employees assigned to bank field offices in Africa and the United States, and (2) Overseas Private Investment Corporation (OPIC) staff needed to promote stable and sustainable economic growth and development in Africa as well as to help U.S. businesses to expand into African markets. Directs the President to develop a plan for standardized training of all U.S. and Foreign Commercial Service officers, Department of State economic officers, and U.S Agency for International Development (USAID) economic officers with respect to Bank, OPIC, Small Business Administration (SBA), and U.S. Trade and Development Agency programs and procedures. Amends the Export-Import Bank Act of 1945 to raise the limits on the aggregate outstanding loan, guarantee, and insurance authority of the Bank for FY2012-FY2017 and each fiscal year thereafter. Prescribes a special rule that the increase for FY2017 and each fiscal year thereafter shall be $175 billion if it is determined the increase has been effective in increasing viable loans to further U.S. exports, including to Africa. Earmarks 25% of the increase over FY2011 for loans, guarantees, and insurance for projects in Africa. Makes $250 million of the Bank capitalization available annually for loans that counter below-market rate, preferential, tied aid, or other related non-market loans offered by other nations for which U.S. companies are also competing or interested in competing. Expresses the sense of Congress that the Bank should use its Tied Aid Credit Fund to help U.S. companies to compete for projects in which a foreign government is using any type of below-market, preferential, or tied aid loan. Amends the Small Business Act to require the Associate Administrator of Small Business for International Trade to work closely with the Trade Promotion Coordinating Committee (TPCC), among others, in maintaining a trade distribution network. Directs the U.S. Trade Representative (USTR) and Bank officials to explore opportunities to negotiate bilateral, subregional, and regional agreements to encourage trade and eliminate nontariff barriers to trade between countries (including Africa), such as negotiating investor friendly double-taxation treaties and investment promotion agreements.

HOMES Act

United States · United States Congress · 21 March 2012

Home Owner Managing Energy Savings Act of 2012 or the HOMES Act - Requires the Secretary of Energy (DOE) to establish the Home Energy Savings Retrofit Rebate Program to provide rebates to: (1) contractors to be passed through as discounts to homeowners who retrofit their homes to achieve energy savings, or (2) homeowners to be transferred to contractors for retrofit work. Requires the Secretary to establish: (1) a Federal Rebate Processing System to enable rebate aggregators to submit claims for reimbursement, and (2) a national retrofit website that provides information on the Program. Requires the Secretary to: (1) develop a network of rebate aggregators or a national rebate aggregator that can facilitate the delivery of rebates to reimburse participating homeowners or contractors, and (2) develop guidelines for states to allow utilities participating as rebate aggregators to count the energy savings from their participation toward state-level energy saving targets. Sets forth eligibility criteria for rebate aggregators. Requires rebates to be awarded for retrofits that achieve home energy savings in accordance with this Act if a qualified home energy efficiency retrofit of a home is carried out after January 1, 2013, by a qualified contractor. Establishes the amount of such rebates as $2,000 for a 20-24% reduction in home energy use, $3000 for a 25-29% reduction, $4,000 for a 30-34% reduction, $5,000 for a 35-39% reduction, $6,000 for a 40-44% reduction, $7,000 for a 45-49% reduction, and $8,000 for a 50% or more reduction. Requires rebates to be paid within 60 days of the submission of the rebate forms and completion of any quality assurance assessments. Requires: (1) the Secretary to establish a cost effective schedule of required quality assurance assessments, and (2) all homes to be required to have such assessment in the first year of the Program. Prohibits rebates from exceeding: (1) $10,000 per individual, or (2) 50% of the qualified home energy efficiency expenditures paid or incurred by the homeowner. Sets forth eligibility criteria for such expenditures and retrofits. Requires a state or Indian tribe that receives funding under this Act to submit to the Secretary a plan to implement a quality assurance program that covers all federally assisted residential efficiency retrofit work administered, supervised, or sponsored by the state or Indian tribe. Sets forth provisions concerning the treatment of rebates for tax purposes (excluded from taxable income).

Gas Rebate Act of 2012

United States · United States Congress · 21 March 2012

Gas Rebate Act of 2012 - Amends the Internal Revenue Code to repeal certain tax incentives for oil and gas companies, including: (1) the tax credit for enhanced oil recovery, (2) the tax credit for producing oil and gas from marginal wells, (3) the expensing allowance for intangible drilling and development costs, (4) the tax deduction for tertiary injectant expenses, (5) the exception to passive loss limitations for working interests in oil and gas properties, and (6) percentage depletion for oil and gas wells. Denies a tax deduction for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, gas, or any primary product thereof. Extends to seven years the required amortization period for geological and geophysical expenditures. Allows registered motor vehicle owners a rebate against income tax based on their share of revenues saved from the repeal of the tax incentives for oil and gas companies by this Act.

Small Business Tax Cut Act

United States · United States Congress · 21 March 2012

Small Business Tax Cut Act - Amends the Internal Revenue Code to allow domestic businesses a tax deduction for 20% of the lesser of their qualified domestic business income (income effectively connected with a trade or business in the United States) or their taxable income for the taxable year.  Limits the amount of such deduction to 50% of the the greater of the W-2 wages (payroll) paid to business non-owners or the sum of the W-2 wages paid to non-owner family members of direct owners (i.e., stockholders), plus any W-2 wages paid to direct owners who have a 10% or less interest in a business.

MAP-21

United States · United States Congress · 21 March 2012

Moving Ahead for Progress in the 21st Century or MAP-21 - Authorizes appropriations out of the Highway Trust Fund (HTF) (other than the Mass Transit Account) equal to current federal highway spending levels plus inflation for FY2012 and FY2013 for: (1) certain new and existing core federal-aid highway programs, and (2) Federal Highway Administration (FHWA) administrative expenses. Revises the National Highway System (NHS) program. Prescribes requirements for acceleration of project delivery. Jason's Law - Declares a national priority to address specified kinds of projects for the shortage of long-term parking for commercial motor vehicles on the NHS. Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 - Establishes a Gulf Coast Restoration Trust Fund for deposit of administrative and civil penalties paid in connection with the Deepwater Horizon incident. Amends the Federal Water Pollution Control Act to require Gulf Coast state allocation and expenditures from the Fund for specified recovery activities. Establishes within the National Oceanic and Atmospheric Administration (NOAA) a Gulf Coast Ecosystem Restoration Science, Observation, Monitoring, and Technology Program. Extends the Land and Water Conservation Fund through FY2022. America Fast Forward Financing Innovation Act of 2011 [ sic ]- Amends the the Transportation Infrastructure Finance and Innovation Act to revise the Department of Transportation (DOT) program of direct loans, loan guarantees, and credit for surface transportation projects. Federal Public Transportation Act of 2012 - Amends the Transportation Equity Act for the 21st Century (TEA-21) and the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU) to repeal specified programs and revise other specified public transportation policies and programs. Motor Vehicle and Highway Safety Improvement Act of 2012 or Mariah's Act - Authorizes appropriations for specified highway safety programs and grants through FY2013. Directs the Secretary of Transportation to: (1) improve public accessibility to information on the publicly accessible vehicle safety databases of the National Highway Traffic Safety Administration (NHTSA), and (2) establish within NHTSA a Council for Vehicle Electronics, Vehicle Software, and Emerging Technologies to build, integrate, and aggregate NHTSA expertise in passenger motor vehicle electronics and other new and emerging technologies. Requires the Secretary to issue a final rule to establish frontal crash protection requirements for child restraint systems for children weighing over 65 pounds. Commercial Motor Vehicle Safety Enhancement Act of 2012 - Revises requirements for: (1) commercial motor vehicle registration, (2) commercial motor vehicle safety, and (3) driver safety. Safe Roads Act of 2012 - Directs the Secretary to establish a national clearinghouse for records relating to alcohol and controlled substances testing of commercial motor vehicle operators. Revises requirements for enforcement of various specified regulations regarding commercial motor vehicles. Motorcoach Enhanced Safety Act of 2012 - Directs the Secretary to prescribe regulations requiring: (1) installation of safety belts in motorcoaches at each designated seating position, and (2) other elements of motorcoach safety. Prescribes additional registration requirements for household goods motor carriers. Surface Transportation and Freight Policy Act of 2012 - Declares a national surface transportation and freight policy. Directs the Secretary to develop and implement a National Surface Transportation and Freight Performance Plan. Hazardous Materials Transportation Safety Improvement Act of 2012 - Revises hazardous material (hazmat) transportation safety requirements. National Rail System Preservation, Expansion, and Development Act of 2012 - Revises requirements regarding: (1) federal and state roles in rail planning and development tools, (2) the Northeast Corridor Infrastructure and Operations Advisory Commission and Amtrak, (3) rail safety, and (4) freight rail. Sport Fish Restoration and Recreational Boating Safety Act of 2012 - Amends the Federal Aid in Fish Restoration Act to extend through FY2013 allocations to states for fish restoration and management projects. Highway Investment, Job Creation, and Economic Growth Act of 2012 - Extends Highway Trust Fund expenditure authority and related highway taxes. Amends the Internal Revenue Service to require transfers of specified funds and taxes as well as a 100% levy on payments to Medicare providers and suppliers. Transportation Research and Innovative Technology Act of 2012 - Authorizes appropriations for FY2012-FY2013 for specified transportation research and innovative technology programs, including intelligent transportation systems research. Reauthorizes certain programs and activities under the Secure Rural Schools and Community Self-Determination Act of 2000, the Internal Revenue Code, and federal civil service law (regarding phased retirement). Authorizes certain special measures to counter money laundering and efforts to impede significantly U.S. tax enforcement. Revises requirements for overflights of National Parks.

THE FISCAL YEAR 2013 BUDGET: A REVIEW OF U.S. FOREIGN ASSISTANCE AMIDST ECONOMIC UNCERTAINTY

United States · United States House of Representatives · 20 March 2012

AN OVERVIEW OF THE OFFICE OF COMMERCIAL SPACE TRANSPORTATION'S BUDGET FOR FISCAL YEAR 2013

United States · United States House of Representatives · 20 March 2012

[H.A.S.C. No. 112-118]NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2013 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED TWELFTH CONGRESS SECOND SESSION

United States · United States House of Representatives · 20 March 2012

[H.A.S.C. No. 112-119]NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2013 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED TWELFTH CONGRESS SECOND SESSION

United States · United States House of Representatives · 20 March 2012

COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 20 March 2012

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2013 AND THE FUTURE YEARS DEFENSE PROGRAM

United States · United States Senate · 20 March 2012

GI Educational Freedom Act of 2012

United States · United States Congress · 20 March 2012

GI Educational Freedom Act of 2012 - Requires any individual eligible for veterans' educational assistance through the Department of Veterans Affairs (VA) to be provided educational and vocational counseling services before the receipt of such educational assistance, unless the individual specifically declines such counseling. Outlines information to be included in such counseling. Directs the Secretary of Veterans Affairs to make such information available to the public. Repeals the $6 million fiscal year limit for VA contracting for such counseling services. Directs the Secretary to establish a system to collect, process, and track complaints submitted by individuals enrolled in VA programs of education to report instances of fraud, waste, and abuse with respect to benefits and services provided by educational institutions. Requires a state approving agency, when considering whether to approve a course of education at an educational institution, to review and take into consideration the complaints processed and tracked by such system. Provides for the confidentiality of such complaints.

A bill to amend the Internal Revenue Code of 1986 to provide that the value of certain historic property shall be determined using an income approach in determining the taxable estate of a decedent.

United States · United States Congress · 20 March 2012

Amends the Internal Revenue Code to allow decedent estates to base the value of qualified historic property on the net earnings of such property for estate and gift tax purposes. Defines "qualified historic property" as any building designated as a national historic landmark for at least 25 years prior to the death of a decedent and originally used for residential or farming purposes.

OPTION Act of 2012

United States · United States Congress · 20 March 2012

Offering Patients True Individualized Options Now Act of 2012 or the OPTION Act of 2012 - Repeals Title I of the Patient Protection and Affordable Care Act (provisions related to health insurance and health coverage expansion) and any amendments to such provisions made by the Health Care and Education Reconciliation Act of 2010. Restores provisions of law amended or repealed by such provisions. Amends Internal Revenue Code provisions relating to health savings accounts (HSAs) to: (1) eliminate the high deductible health plan coverage requirement for HSA participants, (2) increase to $10,000 the maximum dollar amount of the tax deduction for payments to an HSA, and (3) permit Medicare (title XVIII of the Social Security Act) eligible individuals to contribute to an HSA. Permits: (1) the tax deduction for medical expenses without the gross income percentage limitation, and (2) physicians a tax credit for providing charity care. Extends continuation coverage under COBRA (health insurance continuation benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985). Amends title II (Federal Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require the Secretary of Health and Human Services (HHS) to establish a procedure to enroll a Medicare Part A beneficiary in the Medicare Reform Premium Assistance Program to buy private health insurance. Amends Medicare provisions to allow certified medical professionals to assess the nature and extent of an emergency room patient's illness or injury to determine whether an emergency medical condition exists. Amends the Public Health Service Act to allow the sale and purchase of health insurance policies across state lines. Sets forth requirements for and restrictions on such policies.

Increasing American Jobs Through Greater Exports to Africa Act of 2012

United States · United States Congress · 20 March 2012

Increasing American Jobs Through Greater Exports to Africa Act of 2012 - Directs the President to establish a comprehensive U.S. strategy for public and private investment, trade, and development in Africa (including the Republic of South Sudan) that focuses, among other things, on: (1) increasing exports of U.S. goods and services to Africa by 200% in real dollar value within 10 years, (2) coordinating U.S. commercial interests with development priorities in Africa, (3) improving the competitiveness of U.S. businesses in Africa, and (4) encouraging a greater understanding among U.S. business and financial communities of the opportunities Africa holds for U.S. exports. Requires the President to designate a Special Africa Export Strategy Coordinator. Expresses the sense of Congress that the Secretary of Commerce and other high-level U.S. officials with responsibility for export promotion, financing, and development should conduct a joint trade mission to Africa. Directs the Secretary to ensure that at least 14 total U.S. and Foreign Commercial Service officers are assigned to U.S. embassies in Africa. Requires the Secretary to assign at least one full-time officer to the office of the U.S. Executive Director at each multilateral development bank to: (1) increase access of U.S. businesses to procurement contracts with the bank; and (2) facilitate access of such businesses to risk insurance, equity investments, consulting services, and lending provided by the bank. Prescribes increases in the number of: (1) Export-Import Bank of the United States employees assigned to bank field offices in Africa and the United States, and (2) Overseas Private Investment Corporation (OPIC) staff needed to promote stable and sustainable economic growth and development in Africa as well as to help U.S. businesses to expand into African markets. Directs the President to develop a plan for standardized training of all U.S. and Foreign Commercial Service officers, Department of State economic officers, and U.S Agency for International Development (USAID) economic officers with respect to Bank, OPIC, Small Business Administration (SBA), and U.S. Trade and Development Agency programs and procedures. Amends the Export-Import Bank Act of 1945 to raise the limits on the aggregate outstanding loan, guarantee, and insurance authority of the Bank for FY2012-FY2017 and each fiscal year thereafter. Prescribes a special rule that the increase for FY2017 and each fiscal year thereafter shall be $175 billion if it is determined the increase has been effective in increasing viable loans to further U.S. exports, including to Africa. Earmarks 25% of the increase over FY2011 for loans, guarantees, and insurance for projects in Africa. Makes $250 million of the Bank capitalization available annually for loans that counter below-market rate, preferential, tied aid, or other related non-market loans offered by other nations for which U.S. companies are also competing or interested in competing. Expresses the sense of Congress that the Bank should use its Tied Aid Credit Fund to help U.S. companies to compete for projects in which a foreign government is using any type of below-market, preferential, or tied aid loan. Amends the Small Business Act to require the Associate Administrator of Small Business for International Trade to work closely with the Trade Promotion Coordinating Committee (TPCC), among others, in maintaining a trade distribution network. Directs the U.S. Trade Representative (USTR) and Bank officials to explore opportunities to negotiate bilateral, subregional, and regional agreements to encourage trade and eliminate nontariff barriers to trade between countries (including Africa), such as negotiating investor friendly double-taxation treaties and investment promotion agreements.

To amend the Internal Revenue Code of 1986 to make permanent the full exclusion applicable to qualified small business stock.

United States · United States Congress · 20 March 2012

Amends the Internal Revenue Code to: (1) allow a permanent 100% exclusion from gross income of gain from the sale or exchange of qualified small business stock held for more than 5 years, (2) eliminate such tax exclusion as an item of tax preference for alternative minimum tax (AMT) purposes, and (3) repeal the 28% capital gains tax rate on qualified small business stock.

Repeal Big Oil Tax Subsidies Act

United States · United States Congress · 19 March 2012

Repeal Big Oil Tax Subsidies Act - Amends the Internal Revenue Code to extend through 2012: (1) the tax credit for residential energy efficiency improvement expenditures, (2) the tax credit for the purchase of plug-in electric vehicles, (3) the tax credit for alternative fuel vehicle refueling property expenditures, (4) the income and excise tax credits for biodiesel and renewable diesel used as fuel and fuel mixtures, (5) the tax credit for production of electricity from refined coal production facilities, (6) the tax credit for the construction of new energy-efficient homes, (7) the tax credit for energy-efficient appliances, (8) the suspension of the income limitation on percentage depletion for oil and gas from marginal wells, (9) the excise tax credit for alternative fuels and fuel mixtures, and (10) the tax credit for mine rescue team training expenditures and the election to expense mine safety equipment. Extends through 2013: (1) the cellulosic biofuel producer tax credit, and (2) the special depreciation allowance for cellulosic biofuel plant property. Extends the tax credit for the production of electricity from wind resources through 2013 and from other renewable resources through 2014. Allows an increase in such credit for production from Indian coal facilities. Extends the tax credit for investment in wind facilities through 2013 and for investment in offshore facilities using wind to produce electricity through 2014. Increases the allocation of credits under the qualifying advanced energy project (i.e., the project for the production of renewable and alternative energy resources). Amends the American Recovery and Reinvestment Act of 2009 to extend through 2012 the grant program for investment in renewable energy resources in lieu of tax credits. Modifies the definition of "cellulosic biofuel," for purposes of the cellulosic biofuel producer tax credit and the bonus depreciation allowance, to mean any liquid fuel which is derived solely by, or from, qualified feedstocks. Defines "qualified feedstocks" as any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis and any cultivated algae, cyanobacteria, or lemna. Limits or repeals certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels), including: (1) the foreign tax credit; (2) the tax deduction for income attributable to oil, natural gas, or primary products thereof; (3) the tax deduction for intangible drilling and development costs; (4) the percentage depletion allowance for oil and gas wells; (5) the tax deduction for qualified tertiary injectant expenses. Amends the Energy Policy Act of 2005 to repeal royalty relief (suspension of royalties) for: (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico; and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes west longitude). Dedicates any increased revenue generated by this Act to the reduction of a federal budget deficit or the federal debt. Provides for compliance of the budgetary effects of this Act with the Statutory Pay-As-You-Go Act of 2010.

American Dream Accounts Act of 2012

United States · United States Congress · 19 March 2012

American Dream Accounts Act of 2012 - Authorizes the Secretary of Education to award competitive grants to eligible entities so each can establish and administer American Dream Accounts for a group of at least 30 low-income public school students who, at the time the entities apply for a grant, are attending a grade no higher than ninth grade. Lists as eligible entities: (1) state educational agencies, (2) local educational agencies, (3) charter schools, (4) institutions of higher education (IHEs), (5) nonprofit organizations, (6) entities experienced in educational savings or assisting low-income students attain higher education, and (7) consortia of two or more of these entities. Describes an American Dream Account as a personal online account for low-income students that monitors their progress toward higher education and includes a college savings account that provides some tax-preferred accumulation. Requires American Dream Accounts to provide students with opportunities, either online or in person, to: (1) attain financial literacy; (2) learn about preparing for enrollment in an IHE; and (3) identify their skills or interests, including career interests. Requires grantees, subject to federal privacy laws and regulations, to allow vested stakeholders to have secure Internet access to an American Dream Account, but not the college savings account portion of that Account. Prohibits grantees from using their grant to provide the initial deposit into the college savings account portion of a student's American Dream Account. Prohibits the funds in those college savings accounts from being considered in making federal student financial aid determinations.

Restore our Neighborhoods Act of 2012

United States · United States Congress · 19 March 2012

Restore our Neighborhoods Act of 2012 - Amends the Internal Revenue Code to establish a new category of tax credit bonds to be known as qualified urban demolition bonds. Allows the issuance of $4 billion of such bonds for the purpose of demolishing vacant, abandoned, and tax delinquent properties in urban areas. Provides for the allocation of $2 billion to all states to fund such demolition projects, and an additional $2 billion for certain other states that have greater numbers of vacant or foreclosed properties and higher unemployment rates (qualified states).

To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges of qualified principal residence indebtedness.

United States · United States Congress · 19 March 2012

Amends the Internal Revenue Code to extend through 2014 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.

Jets for Vets Act of 2012

United States · United States Congress · 16 March 2012

Closing Corporate Jet Tax Loopholes to Employ Veterans Act of 2012 or the Jets for Vets Act of 2012 - Amends the Internal Revenue Code to classify general aviation aircraft as seven-year property for purposes of the depreciation tax deduction (currently, expenses for aircraft can be deducted or expensed in the current taxable year). Defines "general aviation aircraft" as any airplane or helicopter not used in commercial or contract carrying of passengers or freight, but which primarily engages in the carrying of passengers. Increases the work opportunity tax credit for the hiring of veterans by increasing the dollar limitation on veteran wages eligible for such credit with revenue saved from the depreciation reclassification of general aviation aircraft by this Act.

COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 15 March 2012

LEGISLATIVE BRANCH APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 15 March 2012

MILITARY CONSTRUCTION AND VETERANS AFFAIRS, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2013

United States · United States Senate · 15 March 2012