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Bill· SS. 2734 (114th)referred

CLEAN UP Act

United States · United States Congress · 17 March 2016

Creating Livable Environments And New Usable Property Act or the CLEAN UP Act This bill amends the Internal Revenue Code to extend through 2019: (1) the exclusion of gain or loss on the sale or exchange of brownfield sites (land used for commercial or industrial purposes that has been contaminated with hazardous waste or pollution and has been cleaned up and made suitable for commercial or industrial uses) from unrelated business taxable income, and (2) the election to expense environmental remediation expenditures.

Bill· SS. 2729 (114th)referred

Harbor Maintenance Trust Fund Reform Act of 2016

United States · United States Congress · 17 March 2016

Harbor Maintenance Trust Fund Reform Act of 2016 This bill amends the Internal Revenue Code to make certain amounts in the Harbor Maintenance Trust Fund available, without appropriation, for expenditures to pay: 100% of the eligible operations and maintenance costs of specified portions of the Saint Lawrence Seaway as well as those assigned to commercial navigation of all U.S. harbors and inland harbors; rebates of certain tolls or charges on the Seaway; and all expenses of administration relating to harbor maintenance tax incurred by the Department of the Treasury, the Army Corps of Engineers, and the Department of Commerce. The Water Resources Reform and Development Act of 2014 is amended to: require allocation to certain donor ports and energy transfer ports of at least 20% of amounts made available each fiscal year from the Trust Fund, and authorize the Department of the Army to make the allocations equally between these kinds of ports. A "donor port" is a port, subject to the harbor maintenance fee, located in a state in which more than 2 million cargo containers were unloaded from or loaded on to vessels in FY2012, whose total amount of collected harbor maintenance taxes comes to less than $15 million annually, and which received less than 25% of the total amount of harbor maintenance taxes collected at that port in the previous five fiscal years. An "energy transfer port" is one, also subject to the harbor maintenance fee, through which more than 40 million tons of cargo were transported in FY2012, and at which energy commodities constituted more than 25% of all commercial activity by tonnage in that fiscal year.

Bill· SS. 2719 (114th)referred

SCRA Enhancement and Improvement Act of 2016

United States · United States Congress · 17 March 2016

SCRA Enhancement and Improvement Act of 2016 This bill amends the Servicemembers Civil Relief Act (SCRA) to require servicers of federally issued or guaranteed student loans to use the Defense Manpower Data Center to monitor the duty status of service member borrowers. A servicer shall notify: (1) the Department of Education, the Consumer Financial Protection Bureau (CFPB), and the service member prior to selling or transferring such loan to another servicer; and (2) a service member regarding any denied SCRA benefit or protection, including an explanation for such decision and a description of related appeal procedures. A service member who dies: (1) in the line of duty while on active duty shall have student loans forgiven, and (2) from a service-connected death shall have the balance of federally issued or guaranteed student loans forgiven. The interest cap on debt incurred by a service member before entering service is extended to cover all loans regardless of when the debt is incurred. Such cap is reduced: (1) from 6% to 3%, and (2) to 0% during the time a service member is eligible for hostile fire pay. Each federal student loan servicer shall: (1) employ at least one dedicated service member representative, and (2) ensure that each service member's request for an SCRA benefit or protection is processed within 14 days after such request is received or by such date as ED may prescribe, whichever is earlier. Each student loan servicer shall inquire whether an applicant or cosigner has served in the military and, if so, shall inform the individual of his or her SCRA rights and protections. The CFPB shall: (1) establish and make available an Internet database to evaluate student loan servicers, and (2) develop a servicer oversight plan. The termination/repossession protection period for a service member who breaches an installment contract for the purchase of real or personal property is extended until one year after completion of military service. Mortgage prepayment penalties may not accrue during military service. The expiration of a license issued by a state or local licensing authority to a service member, or a continuing education requirement to maintain such a license, is delayed to 180 days after such service member is no longer eligible for hostile fire special pay. Protections are expanded with respect to collection of property taxes owed by a service member. The bill prohibits denial of credit to a service member solely by reason of entitlement to SCRA protections. Due diligence requirements are expanded for determining whether an individual is a service member prior to taking a default judgment against such individual. SCRA protections are extended to service members who are personally liable as a guarantor or co-maker of a mortgage, trust deed, or other security in the nature of a mortgage. The Department of Justice may issue a civil investigative demand for documents relating to an investigation under SCRA prior to initiating a civil action for violations of such Act. The bill permits the use of Arbitration under SCRA only if all parties consent in writing. The bill doubles penalties penalties for SCRA violations.

Bill· SS. 2712 (114th)referred

Combat-Injured Veterans Tax Fairness Act of 2016

United States · United States Congress · 17 March 2016

Combat-Injured Veterans Tax Fairness Act of 2016 This bill directs the Department of Defense (DOD) to identify: certain severance payments to veterans with combat-related injuries paid after January 17, 1991, from which DOD withheld amounts for tax purposes, and the individuals to whom such severance payments were made. DOD shall provide each such veteran with: notice of the amount of improperly withheld severance payments, and instructions for filing amended tax returns to recover such amount. The period for filing a related claim with the Internal Revenue Service for a credit or refund is extended beyond the three-year limitation to the date that is one year after DOD provides the veteran with the information required by this Act. DOD shall ensure that amounts are not withheld for tax purposes from DOD severance payments to individuals when such payments are not considered gross income.

Bill· SS. 2704 (114th)referred

ABLE Age Adjustment Act

United States · United States Congress · 17 March 2016

ABLE Age Adjustment Act This bill amends the Internal Revenue Code, with respect to qualified ABLE programs, to increase the  threshold for eligibility for such programs from age 26 to age 46. (Tax-favored ABLE [Achieving a Better Life Experience] accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses.)

Bill· SS. 2703 (114th)referred

ABLE Financial Planning Act

United States · United States Congress · 17 March 2016

ABLE Financial Planning Act This bill amends the Internal Revenue Code to allow tax-free rollovers of amounts in qualified tuition programs (529 plans) to qualified ABLE programs and from qualified ABLE programs to qualified tuition programs. (Tax-favored ABLE [Achieving a Better Life Experience] accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses.)

Bill· SS. 2702 (114th)referred

ABLE to Work Act of 2016

United States · United States Congress · 17 March 2016

ABLE to Work Act of 2016 This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.

Bill· HRH.R. 4813 (114th)referred

ABLE Age Adjustment Act

United States · United States Congress · 17 March 2016

ABLE Age Adjustment Act This bill amends the Internal Revenue Code, with respect to qualified ABLE programs, to increase the  threshold for eligibility for such programs from age 26 to age 46. (Tax-favored ABLE [Achieving a Better Life Experience] accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses.)

Bill· HRH.R. 4799 (114th)referred

Do Your Job or Don't Get Paid Act

United States · United States Congress · 17 March 2016

Do Your Job or Don't Get Paid Act This bill withholds the salaries of Members of the House of Representatives if the House has not passed all of the regular appropriations bills before the beginning of the fiscal year. The salaries are withheld until the earlier of: (1) the first day by which the House has passed all of the regular appropriations bills for the fiscal year, or (2) the last day of the Congress. For the purposes of this bill, passage of all of the regular appropriations bills includes passing each bill individually or in combination with any of the other appropriations bills.

Bill· HRH.R. 4795 (114th)referred

ABLE to Work Act of 2016

United States · United States Congress · 17 March 2016

ABLE to Work Act of 2016 This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.

Bill· HRH.R. 4794 (114th)referred

ABLE Financial Planning Act

United States · United States Congress · 17 March 2016

ABLE Financial Planning Act This bill amends the Internal Revenue Code to allow tax-free rollovers of amounts in qualified tuition programs (529 plans) to qualified ABLE programs and from qualified ABLE programs to qualified tuition programs. (Tax-favored ABLE [Achieving a Better Life Experience] accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses.)

Bill· HRH.R. 4751 (114th)referred

Local Enforcement for Local Lands Act of 2016

United States · United States Congress · 16 March 2016

Local Enforcement for Local Lands Act of 2016 This bill declares that, by September 30, 2017, the Department of Agriculture (USDA) shall terminate the Forest Service Law Enforcement and Investigations unit and cease using Forest Service employees to perform law enforcement functions on federal lands. Also by such date, the Department of the Interior shall terminate the Bureau of Land Management Office of Law Enforcement and cease using Interior employees to perform law enforcement functions on federal lands. Nothing in this Act shall be construed as limiting the authority of Interior or USDA to authorize an employee of the Forest Service or the Bureau of Land Management to carry a firearm for protection while in the field. For FY2018 and each fiscal year thereafter, Interior shall make a grant to each state, determined according to a specified formula, to permit the state, directly or through subgrants with units of local government in it, to maintain law and order on federal land, protect individuals and property on federal lands, and enforce federal law. Any state or local government receiving the grant or subgrant shall enter into an agreement with Interior or USDA, as appropriate. In any such agreement Interior or USDA must waive all civil claims against the state or local government, and indemnify that government and save it harmless from all claims by third parties for property damage or personal injury that may arise out of law enforcement functions performed under the agreement. A law enforcement officer of a state or local government performing law enforcement functions pursuant to such an agreement shall not, except in certain circumstances, be deemed a federal employee with respect to hours of work, compensation rates, leave, unemployment compensation, and federal benefits, among other things.

Bill· SS. 2698 (114th)referred

Preserving Consumer Health Accounts Act of 2016

United States · United States Congress · 16 March 2016

Preserving Consumer Health Accounts Act of 2016 This bill amends the Internal Revenue Code to exempt from the excise tax on excess benefit employer-sponsored health care plans any amounts contributed to an Archer medical savings plan, a tax-exempt health savings account, or a health flexible spending arrangement by an employee or an employer through salary reduction contributions.

Bill· SS. 2690 (114th)referred

Modernizing the Pittman-Robertson Fund for Tomorrow's Needs Act of 2016

United States · United States Congress · 16 March 2016

Modernizing the Pittman-Robertson Fund for Tomorrow's Needs Act of 2016 This bill amends the Pittman-Robertson Wildlife Restoration Act to make it one of the purposes of the Act to extend financial and technical assistance to the states for the promotion of hunting and recreational shooting. The bill also prescribes a formula for the allocation of funds apportioned to a state that may be used for any activity or project to recruit or retain hunters and recreational shooters. Amounts apportioned to the states from any taxes on pistols, revolvers, bows, and arrows may be used for hunter recruitment and recreational shooter recruitment. The funds apportioned to a state for wildlife restoration management may be used for related public relations. If a state has not used all of the tax revenues apportioned to it for firearm and bow hunter education and safety program grants, it may use its remaining apportioned funds for the enhancement of hunter recruitment and recreational shooter recruitment. Up to $5 million of the revenues covered into wildlife restoration fund in the Treasury from any tax imposed for a fiscal year on the sale of certain bows, arrows, and archery equipment shall be available to the Department of the Interior exclusively for making hunter recruitment and recreational shooter recruitment grants that promote a national hunting and shooting sport recruitment program, including related communication and outreach activities.

Bill· HRH.R. 4770 (114th)referred

To amend the Internal Revenue Code of 1986 to provide appropriate rules for the application of the deduction for income attributable to domestic production activities with respect to certain contract manufacturing or production arrangements.

United States · United States Congress · 16 March 2016

This bill amends the Internal Revenue Code to specify rules for applying the deduction for income from domestic production activities to contract manufacturing or production arrangements. In a contract manufacturing or production arrangement, a person contracts with one or more unrelated persons for the manufacture, production, growth, or extraction of an item of qualifying production property (tangible personal property, computer software, and sound recordings) or film. The qualifying production property must be manufactured, produced, grown, or extracted in whole or significant part within the United States. In an arrangement in which any person makes a substantial contribution through the activities of its employees within the United States to the manufacture, production, growth, or extraction of qualifying production property: (1) the person shall be treated as engaging in the activity, and (2) the domestic production gross receipts of the person shall include the gross receipts received under the arrangement for the activities. The Internal Revenue Service must prescribe regulations that include specified factors for determining a substantial contribution. A person with an economic risk of loss of more than 50% of the direct material costs necessary to the manufacture, production, growth, or extraction of the qualifying production is deemed to make a substantial contribution. The parties to an arrangement may agree in writing to: (1) make only one person eligible for the deduction, or (2) apply the rules retroactively to tax years in which only one person claimed the deduction.

Bill· SS. 2677 (114th)referred

In the Red Act of 2016

United States · United States Congress · 15 March 2016

In the Red Act of 2016 This bill authorizes and appropriates specified funds to the Department of Education (ED) for FY2016-FY2025 and each succeeding year for grants: (1) to waive tuition and fees for eligible students at community colleges, and (2) to waive or reduce tuition and fees for low-income students at four-year historically black colleges and universities and other minority-serving institutions. It amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct ED to establish a program to refinance outstanding federal student loans for borrowers of Direct Loan program loans disbursed before July 1, 2016, and Federal Family Education Loan (FFEL) program loans. (FFELs were not disbursed after June 30, 2010.) The bill modifies, for academic year 2018-2019 and succeeding years, the calculation of the mandatory add-on amount used to determine the total maximum Federal Pell Grant award. It also amends various provisions of the Internal Revenue Code to, among other things: (1) expand the expenses eligible for the American Opportunity Tax Credit to include the amount of a Federal Pell Grant used to pay for living expenses; and (2) include, as a qualified scholarship excludible from gross income, any amount received as a Federal Pell Grant. Finally, the bill amends the Energy Policy Act of 2005 to repeal royalty relief for: (1) deep gas wells in shallow waters of the Gulf of Mexico, and (2) deep water oil and gas leases in the central and western Gulf of Mexico.

Bill· HRH.R. 4735 (114th)referred

Architect of the Capitol Administrative Operations Improvement Act of 2016

United States · United States Congress · 14 March 2016

Architect of the Capitol Administrative Operations Improvement Act of 2016 This bill establishes in the Treasury a Working Capital Fund for the Architect of the Capitol (AOC), whose amounts shall be available for: appropriate, efficient, and economical common agency services, activities, equipment, and other common costs; and construction, capital repairs, renovations, rehabilitation, maintenance of real property, and similar agency expenses, on a reimbursable basis within the AOC. The Fund shall consist of, among other things, appropriations as well as: the reasonable value of stocks of supplies, equipment, and other assets and inventories on order that the AOC transfers to the Fund, minus related liabilities and unpaid obligations; receipts from the sale or exchange of property held in the Fund; all miscellaneous receipts compensating the AOC for loss or damage to any government property under its jurisdiction or care, including the U.S. Botanic Garden; and reimbursements and transfers from certain other accounts. The Fund shall be reimbursed from available AOC accounts for supplies, materials, services, and related expenses, at rates which will approximate the full cost of operations, including: accrual of employee leave and benefits; depreciation of plant, property, and equipment; and overhead. The AOC may use certain appropriations for the purchase or rental, maintenance, and operation of passenger motor vehicles to provide shuttle service for Members and employees of Congress to and from the House Office Buildings. Available balances of expired AOC appropriations shall be available to the AOC for reimbursing the Department of Labor for any unemployment compensation payments for former AOC employees, without regard to the fiscal year for which the obligation to make such payments is incurred.

Bill· SS. 2676 (114th)referred

Puerto Rico Stability Act of 2016

United States · United States Congress · 14 March 2016

Puerto Rico Stability Act of 2016 This bill permits the government of Puerto Rico to restructure its debt by using a process that requires it to establish a Fiscal Stability and Reform Board, a Chief Financial Officer, and a fiscal plan. The Department of the Treasury may provide technical assistance to territories (Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, or the U.S. Virgin Islands) it determines are eligible for assistance relating to fiscal and financial practices. The bill amends the Omnibus Insular Areas Act of 1992 to permit Puerto Rico to make purchases through the General Services Administration. Puerto Rico may restructure all of its debts using specified procedures if it passes a resolution to opt-in to the process by establishing a Fiscal Stability and Reform Board to monitor, review, and approve certain fiscal policy decisions. Once Puerto Rico passes the resolution, the bill provides a 12-month initial stay on debt-related litigation to permit Puerto Rico to organize its finances. The governor: (1) must appoint a Chief Financial Officer, (2) must develop and submit to the board for approval a five-year fiscal plan to restore solvency and fully fund pensions, and (3) may then submit a debt restructuring proposal to be considered using specified procedures. Puerto Rico Chapter 9 Uniformity Act of 2015 The bill amends the federal bankruptcy code to treat Puerto Rico as a state under chapter 9 (Adjustment of Debts of a Municipality) to permit Puerto Rico to authorize its public corporations to be debtors.

Bill· SS. 2675 (114th)referred

Puerto Rico Recovery Act of 2016

United States · United States Congress · 14 March 2016

Puerto Rico Recovery Act of 2016 This bill amends the Internal Revenue Code to make citizens of Puerto Rico eligible for the federal earned income tax credit and allow them to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers. Title XIX (Medicaid) of the Social Security Act (SSAct) is amended to terminate the limitations on general Medicaid funding, as well as the specific federal medical assistance percentage (FMAP, or matching rate), beginning FY2017 for Puerto Rico, the Virgin Islands of the United States, Guam, the Northern Mariana Islands, and American Samoa (territories). The authority to waive or modify certain Medicaid requirements in American Samoa and the Northern Mariana Islands shall now extend as well to Puerto Rico, the U.S. Virgin Islands, and Guam. Federal financial participation shall not be available to a territory, however, for medical assistance (with certain exceptions) for an individual whose family income exceeds 100% percent of the official poverty line. The bill prescribes a formula for Medicaid disproportionate share hospital (DSH) payments to the territories beginning FY2017, and revises a formula element for calculating Medicare DSH payments under the inpatient prospective payment system (IPPS) for subsection (d) hospitals in Puerto Rico. (Generally, a subsection [d] hospital is an acute care hospital, particularly one that receives payments under Medicare's IPPS when providing covered inpatient services to eligible beneficiaries.) The bill repeals the exclusion of Puerto Rico residents from deemed enrollment under part B (Supplementary Medical Insurance Benefits), permitting them now to be deemed enrolled. The Department of Health and Human Services (HHS) shall extend such residents a special seven-month enrollment period. The late enrollment penalty shall be recalculated to 15% of the usual penalty for residents of Puerto Rico who are current enrollees or who enroll during a specified transition period. HHS shall increase the geographic adjustment practice expense index for Puerto Rico. The blended benchmark component of payments to Medicare+Choice organizations for an area in a territory under SSAct title XVIII part C (Medicare+Choice) shall be at least 80% of the national average of specified base payment amounts for the year (but never more than the lowest blended benchmark amount). The bill also eliminates the exclusion from eligibility for premium and cost-sharing subsidies of territory residents otherwise eligible for Medicare part D (Voluntary Prescription Drug Benefit Program) benefits. HHS shall report to Congress on: the treatment of territories under Medicare part D, and the adverse impacts in each territory from practical exclusion from the establishment of American Health Benefit Exchanges or the administration of a federally facilitated exchange.

Law· HRH.R. 4721 (114th)enacted

Airport and Airway Extension Act of 2016

United States · United States Congress · 10 March 2016

Airport and Airway Extension Act of 2016 This bill reauthorizes for the period March 31, 2016, through July 15, 2016, the airport improvement program and specified related authorities, including: the small community air service development program; the competition disclosure requirement under a development project grant for a large hub airport or a medium hub airport; the eligibility for small airport grants of sponsors of airports in the Republic of the Marshall Islands, Federated States of Micronesia, and Republic of Palau; the air traffic control contract program; state and local government compatible land use planning and projects; Department of Transportation authority to appropriate funds to acquire, establish, and improve air navigation facilities; civil aviation research and development; Federal Aviation Administration (FAA) operations; and essential air service. The Vision 100--Century of Aviation Reauthorization Act is amended to extend through the same period: the authorization for airport development at Midway Island Airport, and the authority of any final order with respect to the eligibility for essential air service compensation. The FAA Modernization and Reform Act of 2012 is amended to extend through: FY2016 the requirement for an Inspector General report on participation in FAA programs by disadvantaged small business concerns, July 15, 2016, the pilot program under which operators of up to four public-use airports may receive grants for activities related to the redevelopment of airport properties, and the same date the advisory committee for aviation consumer protection. The Internal Revenue Code is amended to extend through April 1, 2017, expenditure authority from the Airport and Airway Trust Fund, fuel and ticket taxes, as well as the exemption from ticket taxes for aircraft in fractional ownership aircraft programs.

Bill· HRH.R. 4723 (114th)open

Protecting Taxpayers by Recovering Improper Obamacare Subsidy Overpayments Act

United States · United States Congress · 10 March 2016

Protecting Taxpayers by Recovering Improper Obamacare Subsidy Overpayments Act This bill amends the Internal Revenue Code to eliminate the limitation on the increase in tax imposed upon certain low-income families for advance payments of the tax credit for health insurance premium assistance that exceed the allowable amount of such credit.

Bill· HRH.R. 4725 (114th)reported

Common Sense Savings Act of 2016

United States · United States Congress · 10 March 2016

Common Sense Savings Act of 2016 This bill amends title XIX (Medicaid) of the Social Security Act (SSAct) to specify how a state must treat qualified lottery winnings and lump sum income for purposes of determining an individual's income-based eligibility for a state Medicaid program. Specifically, a state shall include such winnings or income as income received: (1) in the month in which it was received, if the amount is less than $60,000; (2) over a period of two months, if the amount is at least $60,000 but less than $70,000; (3) over a period of three months, if the amount is at least $70,000 but less than $80,000; and (4) over an additional one-month period for each increment of $10,000 received, not to exceed 120 months. Qualified lump sum income includes: (1) monetary winnings from gambling; (2) damages received in lump sums or periodic payments, excluding monthly payments, on account of causes of action other than those arising from personal physical injuries or sickness; and (3) income received as liquid assets from the estate of a deceased individual. In addition, the bill eliminates the enhanced Federal Medical Assistance Percentage (FMAP) with respect to the coverage of individuals who are inmates in public institutions. Under current law, the enhanced FMAP applies to coverage of individuals who are newly eligible for Medicaid under the Patient Protection and Affordable Care Act (PPACA). The bill also amends title XXI (Children's Health Insurance Program [CHIP]) of the SSAct to terminate increases to the enhanced FMAP as established by the PPACA with respect to CHIP. Under current law, federal Medicaid reimbursement to states is reduced in proportion to any impermissible state taxes collected from health care providers. The bill lowers a percentage threshold used to determine whether such taxes are impermissible. The bill terminates the Prevention and Public Health Fund.

Bill· HRH.R. 4728 (114th)referred

SWEPT Act of 2016

United States · United States Congress · 10 March 2016

SWEPT Act of 2016 This bill amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act with respect to the exception to the windfall elimination provision (WEP) under which an individual's Social Security benefits may be reduced for work for an employer that does not withhold Social Security taxes. The bill revises the formula for computation of an individual's primary insurance benefit amount to: (1) lower from 30 to 25 the number of years of coverage required for exception to the WEP; (2) alter the determination of partial exemptions for those who have more than 20 but less than 25 years of coverage; and (3) reduce the dollar amount of annual earnings subject to Social Security taxes required to constitute an applicable year of Social Security coverage.

Bill· SS. 2668 (114th)referred

A bill to provide housing opportunities for individuals living with HIV or AIDS.

United States · United States Congress · 10 March 2016

This bill amends the AIDS Housing Opportunity Act to revise the formula and requirements for distributing funds under the Housing Opportunities for Persons With Aids (HOPWA) Program. A grantee that received an allocation in FY2016 shall continue to be eligible for such allocations in subsequent fiscal years, subject to approval by the Department of Housing and Urban Development (HUD) and the amounts available from appropriations Acts. HUD shall: redetermine a grantee's eligibility at least once every 10 years, and ensure that a grantee that received an allocation in the prior fiscal year does not receive an allocation 5% less than or 10% greater than the share of total available formula funds allocated to that grantee in the preceding fiscal year. HUD may also award such funds to an alternative grantee if the original grantee agrees in a written document meeting HUD approval. References to "cases of AIDS" and "AIDS cases" shall be replaced by "individuals living with HIV or AIDS," which means, with respect to the counting of cases in a geographic area during a period of time, the sum of: the number of living non-AIDS cases of HIV in the area, and the number of living cases of AIDS in the area.

Bill· SS. 2666 (114th)referred

Corporate Inverters Earnings Stripping Reform Act of 2016

United States · United States Congress · 10 March 2016

Corporate Inverters Earnings Stripping Reform Act of 2016 This bill amends the Internal Revenue Code to impose limitations on the tax deduction for interest paid by corporations which are designated as applicable entities (i.e., members of an expanded affiliated group which includes a surrogate foreign corporation which is not treated as a domestic corporation). Such an entity may not claim a tax deduction for interest that exceeds 25% of its adjusted taxable income and may not carry forward interest which is paid or accrued during the first year in which such entity becomes an applicable entity. The bill requires an applicable entity to file an annual application for an approval agreement (i.e., a prefiling, advance pricing, or other agreement involving a related-party transaction) with the Internal Revenue Service during the 10-year period after it becomes an applicable entity.

Bill· SS. 2662 (114th)referred

Pay What You Owe Before You Go Act

United States · United States Congress · 10 March 2016

Pay What You Owe Before You Go Act This bill amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) of the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.

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