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601 records in US in 1983

Records

Bill· HRH.R. 2465 (98th)open

A bill to authorize appropriations for the Earthquake Hazards Reduction Act of 1977 and the Federal Fire Prevention and Control Act of 1974 for fiscal year 1984 and fiscal year 1985, and for other purposes.

United States · United States Congress · 11 April 1983

Title I: Earthquake Hazards Reduction Program - Amends the Earthquake Hazards Reduction Act of 1977 to authorize appropriations for FY 1984 and 1985 for the U.S. Geological Survey, the National Science Foundation, the National Bureau of Standards, and for specified required adjustments in salaries and benefits as set forth in such Act. Title II: Fire Prevention and Control - Amends the Federal Fire Prevention and Control Act of 1974 to authorize appropriations for FY 1984 and 1985 to carry out such Act.

Bill· HRH.R. 2455 (98th)referred

Clinch River Breeder Reactor Research and Development Project Authorization for Fiscal Years 1984 through 1990

United States · United States Congress · 11 April 1983

Clinch River Breeder Reactor Research and Development Project Authorization for Fiscal Years 1984 through 1990 - Authorizes appropriations to the Department of Energy for the Clinch River Breeder Reactor Research and Development Project for FY 1984 through 1990. Provides that the total amount of funding for such project shall not exceed $1,500,000,000.

Bill· SS. 1012 (98th)open

A bill to amend the Internal Revenue Code of 1954 to exempt from rules relating to foreign conventions all conventions, etc., held on domestic cruise ships and on certain foreign cruise ships which port in qualified Caribbean Basin countries.

United States · United States Congress · 7 April 1983

Amends the Internal Revenue Code to revise requirements for the deduction of expenses incurred in attending a convention, seminar, or other meeting held on a domestic cruise ship and to extend eligibility for such deduction to a foreign cruise ship in specified Caribbean Basin countries. Permits the President to disqualify countries under certain conditions.

Bill· HRH.R. 2402 (98th)open

A bill to authorize appropriations for the maritime construction differential subsidy for fiscal year 1984, to promote a strong United States merchant marine, and for other purposes.

United States · United States Congress · 5 April 1983

Authorizes appropriations for the Department of Transportation for FY 1984 for the maritime construction differential subsidy. Amends the Merchant Marine Act, 1936, to increase the limitation on outstanding loan obligations for vessel construction, reconstruction, or reconditioning.

Bill· HRH.R. 2417 (98th)referred

Computer Contribution and Teacher Training Act of 1983

United States · United States Congress · 5 April 1983

Computer Contribution and Teacher Training Act of 1983 - Amends the Internal Revenue Code to allow corporations an increased income tax deduction for charitable contributions of computer equipment to elementary and secondary schools.

Resolution· HRESH.Res. 156 (98th)referred

A resolution expressing the sense of the House of Representatives that the reduction in income tax to take effect on July 1, 1983, under the Economic Recovery Tax Act of 1981 should not be repealed or modified and the effective date of such reduction should not be postponed.

United States · United States Congress · 5 April 1983

Expresses the sense of the House of Representatives that the reduction in income tax to take effect on July 1, 1983, as provided by the Economic Recovery Tax Act of 1981, should not be repealed or modified, and that the effective date of such reduction should not be postponed.

Bill· SS. 927 (98th)open

A bill relating to a fishing tackle excise tax.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to revise the period for the payment of the manufacturers' excise tax on certain sport fishing equipment.

Bill· SS. 961 (98th)open

A bill to amend the Internal Revenue Code of 1954 to provide a credit against income tax for contributions to profit-sharing plans, and for other purposes.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to allow employers a nonrefundable income tax credit for contributions to a tax-deferred profit sharing plan. Limits the amount of such credit to the lesser of all such contributions or one percent of the aggregate compensation paid by the employer to plan participants during the taxable year. Requires full and immediate vesting in plan participants of all amounts contributed to a profit sharing plan. Provides for a three-year carryback and a seven-year carryover of unused credit amounts.

Bill· SS. 954 (98th)open

A bill to amend the Internal Revenue Code of 1954 to exempt from the windfall profit tax certain charitable organizations which provide assistance to patients.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to exempt from the windfall profit tax economic interests in crude oil held by charitable organizations which provide medical care to patients with lengthy or terminal illnesses or which provide financial assistance to medical research.

Bill· SS. 928 (98th)open

A bill entitled the "Railroad Bonding Act."

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to exclude from gross income interest earned on industrial development bonds if the proceeds of such bonds are used to finance railroad rehabilitation or the acquisition of land or rights-of-way in connection with such rehabilitation.

Bill· HRH.R. 2373 (98th)open

A bill to repeal the provisions of the Tax Equity and Fiscal Responsibility Act of 1982 relating to withholding on interest and dividends, to amend the Internal Revenue Code of 1954 to require additional information in statements required to be furnished to persons receiving interest or dividends and to increase the amounts of the additions to tax for failure to report, or pay the tax on, income in the form of interest and dividends, and for other purposes.

United States · United States Congress · 24 March 1983

Repeals provisions of the Tax Equity and Fiscal Responsibility Act of 1982 which require the withholding of tax on interest and dividends. Amends the Internal Revenue Code to specify additional information which must be included in statements furnished to taxpayers who receive interest or dividend payments. Increases additions to tax and penalties for failure to report interest and dividend income and to pay the tax on such income. Requires the Secretary of the Treasury to modify income tax forms to provide for the separate listing of tax-exempt interest or dividend income. Directs the Secretary to prescribe regulations requiring taxpayers to attach statements of interest and dividend income to their tax returns. Permits the Secretary of the Treasury to correct tax returns which show a different amount of interest or dividend income than that reported by the payor of such income and to assess any resulting tax deficiency.

Bill· HRH.R. 2337 (98th)referred

A bill to amend the Internal Revenue Code of 1954 to repeal the highway use tax on heavy trucks and to increase the tax on diesel fuel used in heavy trucks.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to repeal the highway use tax on heavy trucks. Increases the excise tax on diesel fuel from nine cents per gallon to 12 cents per gallon in 1983 and from 12 cents per gallon to 14 cents per gallon in 1984. Requires the Secretary of the Treasury to prescribe regulations exempting from such increases diesel fuel used in automobiles and light trucks.

Bill· HRH.R. 2346 (98th)referred

A bill to encourage increased use of public transit systems by amending chapter 1 of title 26, United States Code, to allow a credit against individual income taxes for funds expended by a taxpayer for payment of public transit fares from his or her residence to his or her place of employment and from his or her place of employment to his or her residence.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to allow an income tax credit for the expenses of traveling to and from work by means of public mass transportation.

Bill· HRH.R. 2347 (98th)referred

A bill to amend chapter 1 of title 26, United States Code, to allow a deduction to tenants of houses or apartments for their proportionate share of the taxes and interest paid by their landlords.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to allow individuals who rent their principal residences an income tax deduction for their proportionate share of real property taxes paid by their landlords and for interest costs incurred by their landlords for the acquisition, construction, alteration, rehabilitation, or maintenance of rental property.

Bill· HRH.R. 2339 (98th)referred

A bill to exclude from gross income, for purposes of Federal income tax, interest paid to sellers of agricultural land purchased with loans made by such sellers to certain farmers and ranchers and insured under the Consolidated Farm and Rural Development Act.

United States · United States Congress · 24 March 1983

Amends the Internal Revenue Code to exclude from the gross income of a seller interest received on loans insured under the Consolidated Farm and Rural Development Act which are used for the purchase of agricultural land by certain farmers or ranchers.

Bill· HRH.R. 2384 (98th)referred

A bill to repeal the increase in use taxes on heavy trucks and the retail taxes on heavy trucks and trailers, to restore the taxes on the manufacturers of trucks, trailers, tires, and tubes, to repeal certain provisions of the Internal Revenue Code of 1954 relating to the reporting of tips in the case of certain food and beverage establishments, and for other purposes.

United States · United States Congress · 24 March 1983

Amends the Highway Revenue Act of 1982 to repeal the increase in the heavy truck highway use tax. Repeals the retail tax on the sale of heavy trucks and trailers. Restores the manufacturers excise tax on trucks and trailers. Excludes from such tax light duty (10,000 pounds or less) trucks and trailers. Repeals the increase in the excise tax on heavy truck tires. Restores such tax to previous levels. Imposes a floor stock tax on motor vehicles and tires. Allows a refund of the floor stock tax paid on tires and tubes. Amends the Internal Revenue Code to repeal certain provisions relating to the reporting of tips in the case of certain food and beverage establishments.

Bill· HRH.R. 2328 (98th)open

A bill to repeal withholding on interest and dividends and, to compensate for the revenue reduction resulting from such repeal, to impose a tax on imported petroleum products.

United States · United States Congress · 24 March 1983

Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal the provisions which require the withholding of tax on interest and dividends. Amends the Internal Revenue Code to impose a $1.80 tax on each barrel of petroleum products entered (or withdrawn from warehouses) for consumption or use in the United States.

Bill· HRH.R. 2331 (98th)referred

Minority Telecommunications Ownership Tax Act of 1983

United States · United States Congress · 24 March 1983

Minority Telecommunications Ownership Tax Act of 1983 - Amends the Internal Revenue Code to increase the investment tax credit for the purchase of used telecommunications property pursuant to a Federal Communications Commission tax certificate. Defines "FCC tax certificate" as any certificate granted by the Federal Communications Commission which provides that the purchase of the property is necessary or appropriate to effectuate an FCC policy with respect to the ownership and control of systems of communication by wire or radio. Extends the nonrecognition of gain for FCC-certified sales or exchanges of radio broadcasting stations to systems of communications by wire or radio.

Bill· SS. 889 (98th)open

Department of Justice National Violent Crime Program Authorization Act, Fiscal Year 1984

United States · United States Congress · 23 March 1983

Department of Justice National Violent Crime Program Authorization Act, Fiscal Year 1984 - Establishes the National Violent Crime Program for the detection, investigation, apprehension, prosecution, and incarceration of individuals involved in violent crime activity and drug trafficking. Authorizes appropriations for construction and remodeling of correctional facilities, the Office of Justice Assistance, and other prevention and law enforcement activities.

Bill· SS. 895 (98th)open

A bill to authorize appropriations for studies under the National Flood Insurance Act of 1968 for the fiscal years 1984 and 1985, to extend the authorization for flood insurance, and for other purposes.

United States · United States Congress · 23 March 1983

Amends the National Flood Insurance Act of 1968 to authorize appropriations for FY 1984 and 1985 for studies. Authorizes new flood control contracts until September 30, 1985. Authorizes the emergency implementation of flood insurance programs until September 30, 1985. Authorizes the Director of the Federal Emergency Management Agency to: (1) establish flood-risk zones in certain areas; and (2) make estimates of flood-related losses for such zones by September 30, 1987. Amends the National Housing Act to extend the National Insurance Development Program, providing crime and riot insurance, until September 30, 1983. Makes certain technical amendments to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973 to reflect the transfer of certain functions of the Secretary of Housing and Urban Development to the Director of the Federal Emergency Management Agency.

Bill· HRH.R. 2291 (98th)open

A bill to amend the Internal Revenue Code of 1954 to allow an additional year to amend governing instruments to meet requirements for gift of split interest to charity.

United States · United States Congress · 23 March 1983

Amends the Internal Revenue Code, with respect to allowable deductions from a decedent's gross estate for transfers for public, charitable, and religious uses, to extend through December 31, 1980, the period during which governing instruments may be amended to meet the requirements for a gift of a split interest to charity.

Law· HRH.R. 2293 (98th)enacted

An act to revise the authority and responsibility of the Office of Federal Procurement Policy, to authorize appropriations for the Office of Federal Procurement Policy for an additional four fiscal years, and for other purposes.

United States · United States Congress · 23 March 1983

Office of Federal Procurement Policy Act Amendments of 1983 - Amends the Office of Federal Procurement Policy Act to eliminate the requirement that the Administrator of Federal Procurement Policy develop and submit to Congress for approval a uniform procurement system. Directs the Administrator to establish (currently, develop) a system of simplified and uniform policies, procedures, and regulations governing procurements by executive agencies. Permits the Administrator, with the concurrence of the Director of the Office of Management and Budget, to deny or rescind any agency rule relating to procurement if the Director determines that such rule is inconsistent with such policies, procedures, or regulation. (Current law requires the Director to deny or rescind such rules until a uniform procurement system is established.) Repeals a provision requiring the Administrator to propose to Congress changes in legislation relating to procurement. Requires the Administrator to transmit to specified congressional committees a detailed report on each proposed procurement regulation. Directs the head of each executive agency to: (1) develop plans to increase the use of full and open competition in agency procurements; (2) ensure that agency procurements are conducted in accordance with all laws, Government policies, and good business practices; (3) establish clear lines of responsibility for procurement decisionmaking; (4) appoint an agency official to direct the procurement system; and (5) maintain a procurement management career program. Authorizes appropriations to carry out the Office of Federal Procurement Policy Act in FY 1984 through 1986.

Bill· HRH.R. 2301 (98th)referred

A bill to repeal the increase in the heavy truck use taxes and the retail taxes on heavy trucks and trailers, to restore the taxes on the manufacturers of trucks, trailers, tires, and tubes and on lubricating oil, and for other purposes.

United States · United States Congress · 23 March 1983

Amends the Highway Revenue Act of 1982 to repeal the increase in the heavy truck highway use tax. Repeals the retail tax on the sale of heavy trucks and trailers. Restores the manufacturers excise tax on trucks and trailers. Excludes from such tax light duty (10,000 pounds or less) trucks and buses. Repeals the increase in the excise tax on heavy truck tires. Restores such tax to previous levels. Reinstates the excise tax on lubricating oil. Imposes a floor stock tax on sales of motor vehicles and lubricating oils. Imposes a floor stock tax on sales of motor vehicles and lubricating oils. Allows a refund of excise tax paid on tires and tubes held as floor stock.

Bill· HRH.R. 2263 (98th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for the establishment of, and the deduction of contributions to, education savings accounts.

United States · United States Congress · 23 March 1983

Amends the Internal Revenue Code to allow an individual taxpayer an income tax deduction for contributions to a savings account established to pay the educational expenses (tuition, supplies, meals, and lodging) of the taxpayer's dependent child at an institution of higher education or a vocational school. Limits the amount of such deduction to $1,000 (adjusted for inflation) for each account per calendar year. Disallows any deduction for contributions to an account for individuals who have attained age 19. Specifies that no account may have more than one beneficiary and that no individual may be a beneficiary of more than one account. Permits the deferral of income tax on income accumulated in such education savings accounts as long as such amounts are used exclusively for educational expenses. Specifies penalties for the use of account funds for other than educational purposes. Requires that the trustee of an education savings account file reports with the Secretary of the Treasury on the maintenance of the account. Imposes penalties for not filing required reports. Extends the deduction for contributions to an education savings account to taxpayers who do not otherwise itemize deductions. Excludes from the gross income of account beneficiaries any distributions from the account made on their behalf which are used for educational expenses.

Bill· SS. 876 (98th)open

Science Education Improvement Act of 1983

United States · United States Congress · 22 March 1983

Science Education Improvement Act of 1983 - Amends the Internal Revenue Code to grant certified elementary and secondary school instructors of mathematics, any physical science, or any other subject for which there is a substantial shortage of teachers, a nonrefundable $1,000 income tax credit. Requires such instructors to spend at least 50 percent of working hours to teaching one of the above-listed subjects. Requires the Secretary of Education to establish an advisory committee which will inform the Secretary and the Secretary of the Treasury of any substantial shortage of certified instructors in any subject taught in the public schools. Requires the Secretary to consult with the advisory committee at least once every calendar year.

Bill· HRH.R. 2256 (98th)open

A bill to amend the Internal Revenue Code of 1954 to provide that income otherwise eligible to be taken into account in computing the section 936 credit shall not be ineligible merely by reason of being received in the United States.

United States · United States Congress · 22 March 1983

Amends the Internal Revenue Code to provide that income otherwise eligible to be taken into account in computing the Puerto Rico and possession tax credit shall not be ineligible merely by reason of being received in the United States.

Bill· HRH.R. 2237 (98th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from the gross income of any participant in any State or local government plan so much of any distribution from such plan as represents his allocable share of tax-exempt interest of such plan.

United States · United States Congress · 22 March 1983

Amends the Internal Revenue Code to exclude from the gross income of an employee-participant in any State or local government deferred compensation plan any income from such plan which is allocable to such participant as tax-exempt interest income.

Bill· HRH.R. 2255 (98th)referred

A bill to amend the provisions of the Internal Revenue Code of 1954 relating to controlled foreign corporations to make the constructive ownership rules inapplicable in determining deemed distributions to individuals with small individual and family interests in such corporations.

United States · United States Congress · 22 March 1983

Amends the Internal Revenue Code to provide that for purposes of determining whether amounts are includible in the gross income of a U.S. shareholder of a controlled foreign corporation, individuals owning less than five percent and families owning less than 15 percent of all classes of stock entitled to vote shall not be treated as U.S. shareholders.

Bill· SS. 868 (98th)open

A bill to amend the Internal Revenue Code to exclude from recapture investment tax credits used to fund tax credit employee stock ownership plans and to permit recovery by such plans of previously recaptured investment tax credits.

United States · United States Congress · 21 March 1983

Amends the Internal Revenue Code to exempt from recapture investment tax credits used to fund tax credit stock ownership plans of a regulated public utility engaged in the furnishing of electric energy. Limits such exemption to amounts attributable to qualified progress expenditures. Requires that the disposition of investment property requiring recapture must be due to: (1) legislation; (2) failure to obtain regulatory approval; (3) governmental action; (4) court order; or (5) transfer to another regulated public utility or a governmental agency. Permits the recovery by such plans of tax credits previously recaptured due to such forced dispositions.

Bill· HRH.R. 2214 (98th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that amounts paid for health insurance will be allowed as a deduction without regard to the 3 percentum limitation on the medical deduction, to allow a deduction for one-half of the social security tax on self-employment income and for certain life insurance premiums, and for other purposes.

United States · United States Congress · 21 March 1983

Amends the Internal Revenue Code to allow an unrestricted income tax deduction of amounts paid for health insurance. Allows self-employed individual taxpayers an income tax deduction for one-half of the social security tax on self-employment income. Provides for a limited income tax deduction for amounts paid by an individual for term life insurance. Extends these deductions to taxpayers who do not itemize income tax deductions.

Bill· HRH.R. 2223 (98th)referred

A bill to amend the Internal Revenue Code of 1954 to provide farmers a refundable income tax credit for acreage with respect to which the farmer uses conservation tillage practices.

United States · United States Congress · 21 March 1983

Amends the Internal Revenue Code to provide farmers a refundable income tax credit based on the number of soil conservation acres which they utilize. Defines "soil conservation acres" as land owned by the taxpayer which is used in farming in which only conservation tillage practices are used (procedures which reduce soil erosion by minimizing the amount of plowing). Reduces the credit by the amount of government grants received for the purpose of carrying out conservation tillage practices.

Resolution· HCONRESH.Con.Res. 91 (98th)passed

A concurrent resolution revising the congressional budget for the United States Government for the fiscal year 1983 and setting forth the congressional budget for the United States Government for the fiscal years 1984, 1985, and 1986.

United States · United States Congress · 21 March 1983

Revises the concurrent resolution on the budget for FY 1983 and sets forth the first concurrent resolution on the budget for 1984 and the appropriate budgetary levels for FY 1985 and 1986. Recommends levels of Federal revenues of $606,200,000,000 for FY 1983, $689,100,000,000 for FY 1984, $765,900,000,000 for FY 1985, and $831,500,000,000 for FY 1986. Sets the amount by which the aggregate levels of Federal revenues should be changed at - $100,000,000 for FY 1983, $35,200,000,000 for FY 1984, $48,100,000,000 for FY 1985, and $58,000,000,000 for FY 1986. Sets the appropriate levels of total new budget authority at $886,200,000,000 for FY 1983, $936,550,000,000 for FY 1984, $998,650,000,000 for FY 1985, and $1,058,400,000,000 for FY 1986. States that the appropriate levels of total budget outlays are $814,700,000,000 for FY 1983, $863,550,000,000 for FY 1984, $912,600,000,000 for FY 1985, and $967,550,000,000 for FY 1986. Sets the amount of deficits in the budget which are appropriate in light of economic conditions and all other relevant factors at $208,500,000,000 for FY 1983, $174,450,000,000 for FY 1984, $146,700,000,000 for FY 1985, and $136,050,000,000 for FY 1986. States that the appropriate levels of public debt are $1,389,200,000,000 for FY 1983, $1,607,450,000,000 for FY 1984, $1,804,000,000,000 for FY 1985, and $1,993,750,000,000 for FY 1986. Sets the amounts by which the temporary statutory limits on such debt should be accordingly increased at $99,000,000,000 for FY 1983, $218,250,000,000 for FY 1984, $196,550,000,000 for FY 1985, and $189,750,000,000 for FY 1986. Sets forth the appropriate levels of total Federal credit activity as follows: (1) $52,550,000,000 for new direct loan obligations, $94,550,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1983; (2) $49,400,000,000 for new direct loan obligations, $96,850,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1984; (3) $47,450,000,000 for new direct loan obligations, $103,950,000,000 for new primary guarantee commitments, $68,250,000,000 for new secondary loan guarantee commitment for FY 1985; and (4) 48,000,000,000 for new direct loan obligations, 107,650,000,000 for new primary loan guarantee commitments, and 68,250,000,000 for new secondary loan guarantee commitments. Sets forth the levels of new budget authority and budget outlays and the primary and secondary loan guarantee commitments for each major functional category for FY 1983 through 1986. Requires specified House committees to report changes in laws within their respective jurisdictions sufficient to decrease budget authority and outlays in FY 1984 through 1986 in amounts consistent with reductions in entitlement programs assumed in this resolution and to increase revenues in FY 1985 and 1986 in amounts consistent with the assumptions in this resolution. Sets forth the dates by which such committees must submit their recommendations to the House Committee on the Budget. Requires the Budget Committee to then report to the House a reconciliation bill incorporating all such recommendations without substantive revision. Prohibits any bill or resolution providing new discretionary budget authority or spending authority for FY 1984 which exceeds the appropriate allocation for such new discretionary budget authority or new spending authority from being enrolled until after Congress has completed action on the second concurrent resolution on the budget, or until October 1, 1983, whichever occurs first. Declares that if Congress has not completed action by October 1, 1983, on the second concurrent resolution on the budget for FY 1984, then this concurrent resolution shall be deemed to be the concurrent resolution required under the Budget Act. Permits the Committee on the Budget, if action has not been completed by such date, to report to the House a House or concurrent resolution which only revises the levels of total budget outlays, budget authority, and revenues for technical and economic assumptions. Declares that such provisions shall not apply to bills, resolutions, amendments, or conference reports within the jurisdiction of a committee if the enactment of such a measure would not cause the appropriate allocation of new discretionary budget or new spending authority for FY 1984 to be exceeded. Declares that it is the sense of the Congress that monetary policy and the economic assumptions in the budget resolution shall be consistent with each other. Requires the Board of Governors of the Federal Reserve System to report to Congress on the objectives of the Board and the Federal Open Market Committee with respect to the growth or diminution of gross national product in current and constant dollars, inflation, and unemployment for the current and three following calendar years. Requires the Board, in the same report, to explain the differences, if any, between these objectives and the economic assumptions of the most recent President's budget submission, the most recent projections of the Congressional Budget Office, and the economic assumptions of the most recent congressional budget resolution. Declares that it is the sense of the Congress that the House Committee on Armed Services should initiate a thorough review of military retirement programs which constitute a major sector of the defense budget and should recommend changes which would result in reduced spending under these programs.

Bill· SS. 863 (98th)open

Enterprise Zone Act of 1983

United States · United States Congress · 18 March 1983

Enterprise Zone Act of 1983 - Title I: Designation of Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of enterprise zones by the Secretary of Housing and Urban Development for purposes of extending the tax incentives and regulatory flexibility measures provided by this Act. Specifies that State and local governments shall nominate areas for such designation. Limits the designation of enterprise zones to 75 nominated areas per year (one-third of which must be in rural areas). Limits the period during which such designations shall remain in effect. Specifies that the Secretary may designate such zones only if: (1) the area is within the jurisdiction of the local government; (2) the boundary of the area is continuous; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area (within a population of at least 50,000) or 1,000 otherwise, or is within an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires nominating local governments, as a condition of the Secretary's designation, to agree in writing to follow a course of action which may include reducing tax rates, improving local services, simplifying or streamling regulation of business, or receiving commitments of private entities to assist employees and residents of the area. Terminates the authority of the Secretary to designate enterprise zones on June 30, 1986 or three years after the publication of regulations pertaining to such zones, whichever is later. Describes areas to which preference shall be given in deciding to designate enterprise zones. Requires the Secretary to prepare and submit to the Congress every four years a report on the effects of such enterprise zones' designation. Requires that any property tax reduction effected by a local government under the terms of this Act be disregarded for purposes of determining the eligibility of a State or local government for Federal assistance or benefits. States that designation of an enterprise zone shall not give displaced persons from such an area any rights or benefits under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970. Exempts enterprise zones from certain requirements relating to Federal environmental policy. Title II: Federal Income Tax Incentives - Subtitle A: Credits for Employers and Employees - Allows employers located in enterprise zones a nonrefundable income tax credit for increased employment expenditures and employment of the disadvantaged. Allows a three year carryback and 15 year carryover of such credit. Sets the amount of such credit at ten percent of the increase in payroll (taking into account a maximum of $15,000 in wages per year per employee) plus 50 percent of the wages paid to certain disadvantaged workers for the first three years of the enterprise zone designation. Phases out such credit in the last three years of the enterprise zone designation. Disallows a deduction for the portion of wages taken into account for such credit. Allows employees located in enterprise zones a nonrefundable income tax credit equal to five percent of qualified wages earned per year (taking into account a maximum of $9,000 in wages per year). Phases out such credit in the last three years of the enterprise zone designation. Subtitle B: Credits for Investment in Tangible Property in Enterprise Zones - Allows businesses an additional investment tax credit for investment in certain tangible property located in enterprise zones. Limits such credit to five percent for zone personal property and ten percent for new zone construction property, including rental property. Requires that the property subject to such credit be predominantly used in the zone, be purchased after zone designation, and not be acquired from relatives or related corporations. Requires the recapture of such credit upon early disposition of the property. Phases out such credit in the last three years of the enterprise zone designation. Subtitle C: Reduction in Capital Gain Tax Rates - Eliminates the capital gains tax on property of corporations acquired after the enterprise zone designation and used in a zone business. Qualifies certain low-income rental housing located in an enterprise zone for such treatment. Permits property to remain qualified for purposes of the revised capital gains treatment after a designation of an enterprise zone has terminated. Exempts gain from the sale or exchange of property used in a business in an enterprise zone from the computation of the minimum tax. Allows noncorporate taxpayers to deduct from gross income 100 percent of any net capital gain from qualified enterprise zone property. Subtitle D: Rules Relating to Industrial Development Bonds - Provides that limitations on the cost recovery deductions for property financed with tax-exempt industrial development bonds shall not apply to enterprise zone property. Provides that the termination of the small issue exemption shall not apply to industrial development bonds the proceeds of which are used to finance facilities in such enterprise zones. Subtitle E: Sense of the Congress with Respect to Tax Simplification - Expresses the sense of the Congress that the Internal Revenue Service should simplify the administration and enforcement of any provision of the Internal Revenue Code affected by this Act. Title III: Regulatory Flexibility - Revises the definition of "small entity" for purposes of the analysis of regulatory functions, to include qualified businesses (as defined in Title II of this Act), to include governments, and nonprofit enterprises operating within enterprise zones. Authorizes Federal agencies, upon request by a designating government, to waive or modify rules and regulations which pertain to the carrying out of projects or activities within an enterprise zone. Requires agencies to approve such request if the resulting benefits of job creation, community development, or economic revitalization outweigh the public interest in continuation of the rule unchanged. Disallows waiver or modification of a rule that would directly violate a statutory requirement (including the Davis-Bacon Act and Fair Labor Standards Act) or which would present a danger to the public health and safety. Provides that such waivers or modifications of a rule shall remain in effect as long as the zone designations. Amends the Department of Housing and Urban Development Act to direct the Secretary of Housing and Urban Development to promote the coordination of all enterprise zone programs and consolidate all periodic reports required under such programs into one summary report. Title IV: Establishment of Foreign-Trade Zones in Enterprise Zones - Requires the Foreign-Trade Board to consider on a priority basis and expedite the processing of applications for the establishment of foreign-trade zones within enterprise zones. Requires the Secretary of the Treasury to give priority to, and expedite applications for, the establishment of ports of entry necessary to establish such zones. States that to the maximum extent practicable foreign-trade zones should be established within enterprise zones.

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