Records whose title is actually about this topic. Use a country filter if the list is still too broad.
Records
Bill· HRH.R. 4040 (96th)passed
United States · United States Congress · 10 May 1979
Department of Defense Authorization Act, Fiscal Year 1980 - Title I: Procurement - Authorizes appropriations for fiscal year 1980 for use by the armed forces for the procurement of aircraft, missiles, naval vessels, tracked combat vehicles, torpedoes, and other weapons. Earmarks a specified portion of such authorization for the procurement of avionics and cruise missile integration for the B-52 modification program. Stipulates that such funding shall only be available on the condition that the Secretary of Defense report to Congress regarding the uncertainties of the effectiveness of the B-52 as a cruise missile carrier during the next decade and the requirements for maintaining the defense penetration capability of the B-52. Authorizes appropriations for the United States' share of the cost of NATO's Airborne Early Warning and Control System (AWACS). Authorizes the reappropriation of unobligated funds previously appropriated for the DDG-2 destroyer modernization program for an additional SSN-68 nuclear attack submarine. Title II: Research, Development, Test, and Evaluation - Authorizes appropriations for fiscal year 1980 for military research, development, test, and evaluation. Declares it the sense of the Congress that the development of the MX missile should proceed so as to achieve Initial Operational Capability for such missile and its basing mode (Multiple Protective Structures). Requires the Secretary to report to the Congress regarding the ability of such basing mode to survive foreseeable attempts by the Soviet Union to neutralize such system. Title III: Active Forces - Establishes the authorized end strength for active duty personnel for fiscal year 1980 for each of the armed forces. Title IV: Reserve Forces - Prescribes the average strengths for the reserve components of the armed forces for such fiscal year. Increases from 50 percent to 100 percent the Federal share of the educational expenses incurred by reservists in the Selected Reserve Educational Assistance Program. Revises the repayment obligation of individuals participating in such program who do not participate satisfactorily in training in their reserve unit. Authorizes the Secretary of the Army to retain officers of the Veterinary Corps on active status until age 60 with the officer's consent. Title V: Civilian Personnel - Sets forth the authorized end strength for civilian personnel within the Department of Defense for fiscal year 1980. Allows the Secretary of Defense to apportion such personnel among the various military departments. Title VI: Military Training Student Loads - Prescribes the average military training student loads for each of the armed forces for fiscal year 1980. Title VII: Civil Defense - Authorizes appropriations for fiscal year 1980 to carry out the provisions of the Federal Civil Defense Act of 1950. Stipulates that no funds may be appropriated for carrying out the provisions of such Act unless such funds have been authorized for such purpose after July 14, 1976. Title VIII: General Provisions - Stipulates that the Office of Management and Budget Circular A-76 shall not control the expenditure of military research and development funds which are required to be specifically authorized by law. Directs the Secretary of Defense to institute actions to ensure that maximum first-year enrollment at the Uniformed Services University of the Health Sciences is attained consistent with the academic capacity of the University and the needs of the uniformed services for medical personnel. Authorizes the enlistment of individuals over the age of 26 in the reserve components of the armed forces. Places limitations on the conversion of commercial or industrial functions being performed by Department of Defense personnel to performance by a private contractor. Revises the stipend payable to individuals participating in the Armed Forces Health Professions Scholarship program to make it equivalent to the stipend payable under the National Health Service Corps Scholarship program. Stipulates that medical officers while serving an active duty obligation resulting from a military medical education program shall be paid $9,000 for each year of such service. Authorizes the advance payment of station housing allowances for members of the uniformed services assigned overseas. Requires the Secretary of Defense to submit an annual report to specified Congressional committees assessing the readiness status of NATO military forces. Specifies findings which are to be included in such report. Amends the Department of Defense Appropriation Authorization Act, 1976, to direct the Secretary to submit quarterly acquisition reports to Congress for those major defense systems which are estimated to require financing above a specified level. Authorizes appropriations for fiscal year 1980 to the Secretary of Defense to provide assistance for the 1980 Olympic winter games, as authorized by the Department of Defense Appropriation Authorization Act, 1979. Prohibits the use of funds authorized under this Act to reduce the total number of Army ground combat troops stationed in the Republic of Korea below the number stationed there on May 1, 1979. Directs the President to commence registration of 18 year old males pursuant to the Military Selective Service Act. Directs the President to submit a plan to Congress for reforming the existing law providing for the registration and induction of persons into the armed forces. Specifies the recommendations to be included in such plan including: (1) the desirability of registering individuals through a centralized automated system using school records and other existing records; (2) the desirability of granting the President the authority to induct registrants into the armed forces during periods where such authority is required in the interests of national defense as determined by the President; and (3) whether women should be subject to registration and induction. Amends the Military Selective Service Act to require the Selective Service System to participate in periodic training exercises to simulate emergency mobilization procedures. Declares it the sense of the Congress that the Selective Service System should remain independent of any other agency. Stipulates that the System shall not be subject to any executive reorganization plan.
Bill· HRH.R. 4042 (96th)referred
United States · United States Congress · 10 May 1979
Amends the Internal Revenue Code to extend the investment tax credit to buildings and structural components used as an integral part of manufacturing, production, retail or wholesale trade, extraction and certain other businesses, or which are certain research or storage facilities.
Bill· SS. 1102 (96th)referred
United States · United States Congress · 9 May 1979
Amends the Internal Revenue Code to qualify educational filmstrips for the investment tax credit.
Bill· SS. 1098 (96th)referred
United States · United States Congress · 9 May 1979
Removes the limitation on the calendar years for which an amount received by a member of the uniform services as a scholarship under the Armed Forces Health Professions Scholarship Program is excluded from the member's gross income.
Bill· SJRESS.J.Res. 76 (96th)referred
United States · United States Congress · 9 May 1979
Constitutional Amendment - Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the total amount of revenue received during such fiscal year, except in time of war declared by the Congress. Allows the suspension of this Amendment by a joint resolution approved by each House of the Congress and signed by the President, or by a vote of two-thirds of the Members of each House of the Congress. Requires tax rates to be reduced to offset the effects of inflation. Establishes a procedure for the approval of bills or joint resolutions affecting taxes.
Bill· HRH.R. 4025 (96th)referred
United States · United States Congress · 9 May 1979
Amends the Internal Revenue Code to deny the foreign tax credit for foreign related oil income. Defines "foreign oil related income" as income derived from sources outside the United States from: (1) the extraction of minerals from oil or gas wells; (2) the processing of such minerals into their primary products; (3) the transportation and sale of such minerals or primary products; or (4) the sale or exchange of assets used in energy related businesses. Denies credit carryovers and net operating loss carrybacks with respect to foreign oil related income.
Bill· HRH.R. 4024 (96th)referred
United States · United States Congress · 9 May 1979
Amends the Internal Revenue Code to deny the foreign tax credit for foreign related oil income. Defines "foreign oil related income" as income derived from sources outside the United States from: (1) the extraction of minerals from oil or gas wells; (2) the processing of such minerals into their primary products; (3) the transportation and sale of such minerals or primary products; or (4) the sale or exchange of assets used in energy related businesses. Denies credit carryovers and net operating loss carrybacks with respect to foreign oil related income.
Bill· HRH.R. 4030 (96th)referred
United States · United States Congress · 9 May 1979
Amends the Internal Revenue Code to deny a tax exclusion of the interest on State and local mortgage revenue bonds. Defines "mortgage revenue bonds" as bonds which are issued to provide funding for mortgages on owner-occupied residences. Permits a tax exclusion for interest earned on bonds which are issued to finance housing for veterans, as general revenue bonds, or for the financing of low- and moderate-income housing, or the rehabilitation of such housing. Limits the issuance of industrial development bonds for housing purposes to rental or cooperative housing.
Bill· HRH.R. 4022 (96th)referred
United States · United States Congress · 9 May 1979
Amends the Internal Revenue Code to allow an income tax deduction for sewer taxes, rents, and similar sewer charges.
Bill· SS. 1095 (96th)referred
United States · United States Congress · 8 May 1979
Tuition Tax Relief Act - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 50 percent of the tuition paid for the elementary, secondary, college, or post-secondary vocational education of the taxpayer, his spouse, or any of his dependents. Sets forth maximum dollar amounts allowable as a credit for calendar years 1980, 1981, 1982 and thereafter. Treats tuition payments as paid for calendar year 1980, only if such payments are made on or after August 1, 1980, and before February 1, 1981, for education furnished on or after August 1, 1980, and before January 1, 1981. Treats tuition payments as paid for calendar year 1981 and thereafter only if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Excludes graduate students from eligibility for the credit. Requires full-time or qualified half-time attendance at an eligible educational institution. Excludes from the definition of "tuition" any amounts paid for books, supplies, and equipment for courses of instruction, meals, lodging, transportation, or education below the first-grade level. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Provides that an educational institution which enrolls a student for whom a tax credit is claimed under this Act shall not be considered to be a recipient of Federal assistance. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.
Bill· SS. 1094 (96th)referred
United States · United States Congress · 8 May 1979
Amends the Internal Revenue Code to treat a library established by State or Federal law as a charitable institution for purposes of the charitable income tax deduction.
Bill· HRH.R. 3995 (96th)passed
United States · United States Congress · 8 May 1979
Amends the Noise Control Act of 1972 to authorize the appropriation of $15,000,000 for fiscal years 1980 and 1981 to carry out the purposes of such Act. Directs the Administrator of the Environmental Protection Agency to develop and submit to the Congress a five-year plan for carrying out the Administrator's authority under such Act. Specifies that the plan shall include: (1) the objectives of each program; (2) the relative priorities among the programs; (3) proposed annual levels of funding; and (4) a timetable of specific actions proposed. Specifies that a separate portion of the plan be devoted to noise control research. Directs the Secretary of Transportation to study and report to Congress on noise abatement technology and standards necessary to attenuate noise emitted by railroad equipment and facilities.
Bill· HRH.R. 4010 (96th)referred
United States · United States Congress · 8 May 1979
Tuition Tax Relief Act - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 50 percent of the tuition paid for the elementary, secondary, college, or post-secondary vocational education of the taxpayer, his spouse, or any of his dependents. Sets forth maximum dollar amounts allowable as a credit for calendar years 1980, 1981, 1982 and thereafter. Treats tuition payments as paid for calendar year 1980 only if such payments are made on or after August 1, 1980, and before February 1, 1981, for education furnished on or after August 1, 1980, and before January 1, 1981. Treats tuition payments as paid for calendar year 1981 and thereafter only if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Excludes graduate students from eligibility for the credit. Requires full-time or qualified half-time attendance at an eligible educational institution. Excludes from the definition of "tuition" any amounts paid for books, supplies, and equipment for courses of instruction, meals, lodging, transportation, or education below the first-grade level. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Provides that an educational institution which enrolls a student for whom a tax credit is claimed under this Act shall not be considered to be a recipient of Federal assistance. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.
Bill· HRH.R. 3998 (96th)referred
United States · United States Congress · 8 May 1979
Alcohol Production Incentive Act of 1979 - Amends the Internal Revenue Code to allow a taxpayer to elect an income tax deduction with respect to the amortization, based on a 60-month period, of any qualified facility producing alcohol from coal or biomass for primary use as a substitute for fuel.
Bill· SS. 1085 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to provide that the mileage rate used to determine the amount allowable as an income tax deduction for the business use of automobiles shall be the same as the rate used to reimburse Federal employees.
Bill· SS. 1079 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to permit farmers and small businesses to obtain the investment tax credit for certain types of business property acquired from a related party.
Bill· SS. 1078 (96th)referred
United States · United States Congress · 7 May 1979
Artists Tax Equity Act of 1979 - Amends the Internal Revenue Code to allow an estate tax credit equal to the fair market value of literary, musical, or artistic properties transferred, without restriction, by the estate of the decedent whose personal efforts created them, to Federal museums and art galleries for public exhibition. Requires the recipient of such properties to sign a written statement that such properties have significant artistic value and that they will be placed on public exhibition. Allows a nonrefundable income tax credit equal to 30 percent of the fair market value of a literary, musical, or artistic composition created by the personal efforts of the taxpayer and contributed by such taxpayer to a tax-exempt charitable or educational organization. Limits the amount of such credit to the greater of $2,500 or 50 percent of the taxpayer's income tax liability for the taxable year. Limits the dollar amount of contributions to $35,000. Requires certification that such compositions possess significant artistic value. Disallows the credit for the contribution of a letter, memorandum, or similar property which was written by or for the taxpayer while such taxpayer held public office. Extends from five to ten years the period in which an artist must show that he has engaged in the production of artistic works for a profit in two years during such period in order to claim income tax deductions for losses related to the production of such works. Restores capital gains treatment of the gain realized from the sale of inherited artwork.
Bill· HRH.R. 3987 (96th)reported
United States · United States Congress · 7 May 1979
Amends the Controlled Substances Act to extend the authorization of appropriations through fiscal year 1982 for the expenses of the Department of Justice in carrying out its functions under such Act. Specifies the spending authority of the Drug Enforcement Administration in carrying out its functions under such Act.
Bill· HRH.R. 3981 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to provide that the amendments relating to the taxation of beneficiaries of medical expense reimbursement plans enacted by the Revenue Act of 1978 shall apply to taxable years beginning after the later of December 31, 1979, or 60 days after the date on which the Internal Revenue Service first publishes final regulations for such plans.
Bill· HRH.R. 3961 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to allow an income tax deduction equal to 50 percent of the qualified erosion prevention expenditures paid or incurred by the taxpayer which are not chargeable to capital account. Defines "qualified erosion prevention expenditures" as expenditures for the improvement of real property within the United States which borders the Great Lakes and which is susceptible to shoreline erosion. Requires the Chief of Engineers of the United States Army to prepare specifications for improvements of shoreline property and establish maximum costs for such improvements.
Bill· HRH.R. 3975 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to 15 percent of an individual's investment in small business stock for a taxable year. Limits the dollar amount of such credit to $750 ($1,500 for married individuals filing jointly). Denies the credit to an estate or trust, an individual who is claimed as a dependent, or a nonresident alien. Defines "small business stock" as stock of a domestic corporation which has equity capital of less than $25,000,000 and which during the previous five years derived more than 50 percent of its income from sources other than royalties, rents, interest, and other types of passive income. Requires adjustments to the basis of small business stock for which a credit is allowed the taxpayer or for which amounts of the credit are recaptured.
Bill· HRH.R. 3967 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to allow an income tax deduction of up to $1,500 for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides.
Bill· HRH.R. 3974 (96th)referred
United States · United States Congress · 7 May 1979
Medical Expense Tax Credit Act - Amends the Internal Revenue Code to allow a refundable income tax credit for medical expenses incurred by a taxpayer or his dependents, in lieu of the income tax deduction presently allowed by law. Establishes the amount of such credit at 85 percent of the medical care expenses paid by the taxpayer to the extent that such expenses exceed 15 percent of the taxpayer's modified gross income and do not exceed 25 percent of such income, and 100 percent of such expenses to the extent that they exceed 25 percent of the taxpayer's modified gross income. Defines "medical care" as usual, customary and reasonable amounts paid for the diagnosis, cure, mitigation, treatment, or prevention of disease, for transportation to medical care, for domiciliary and intermediate care facilities, and health care insurance. Repeals the income tax deduction for medical and dental expenses. Provides for the advance payment of the medical care expenses credit to a taxpayer who reasonably anticipates medical expenses in excess of the income levels established by this Act. Authorizes the President to study the adequacy of the use of such refundable credit in meeting the health care needs of the Nation as an alternative to all Federal medical assistance and health care programs.
Bill· HRH.R. 3966 (96th)referred
United States · United States Congress · 7 May 1979
Amends the Internal Revenue Code to allow individuals a $5,000 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.
Bill· HRH.R. 3943 (96th)referred
United States · United States Congress · 4 May 1979
Amends the Internal Revenue Code to disallow the income tax deduction for costs incurred by an employer for insurance covering inpatient hospital care for their employees, unless the insurance contract requires each beneficiary to obtain insurance for at least 25 percent of the cost of inpatient hospital care. Limits the responsibility of the beneficiary to the lesser of $2,000 or 15 percent of the beneficiary's adjusted gross income for the three previous taxable years. Exempts from the limitations imposed by this Act contracts in effect at the time of the enactment of this Act and contracts which were part of a collective bargaining agreement in effect at that time.
Bill· HRH.R. 3938 (96th)referred
United States · United States Congress · 4 May 1979
Amends the Internal Revenue Code to exclude from gross income interest on industrial development bonds which are sold to finance facilities for the production of alcohol for use in the production of gasohol or other fuel.
Bill· SS. 1069 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to provide that income received by a mutual or cooperative electric company from nonmember electric companies for providing electric energy to such nonmember companies shall not be taken into account in determining the tax-exempt status of the mutual or cooperative electric company. Provides that income received by a mutual or cooperative telephone or electric company for services to customers of rural telephone or electric companies, and income received from the rental or sale of communications or power facilities, shall not be subject to the tax on unrelated business income.
Bill· SS. 1065 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to allow a corporation (other than a small business corporation) an income tax credit equal to 25 percent of its contribution to an institution of higher education for basic research in the physical sciences. Reduces the allowable amount of such credit by the amount of charitable contributions made by such corporations for purposes other than basic research.
Law· HRH.R. 3919 (96th)open
United States · United States Congress · 3 May 1979
Crude Oil Windfall Profit Tax of 1979 - Amends the Internal Revenue Code to impose upon producers of domestic crude oil an excise tax on the windfall profits from oil removed from the premises during each taxable period. Sets the rate of such tax at 50 percent of the windfall profit on each barrel of taxable crude oil. Defines "windfall profit" as the excess of the removal price of a barrel of crude oil (amount for which barrel is sold) over the adjusted base price of such barrel (the base price, plus the base price multiplied by a cost of living adjustment for the calendar quarter in which the crude oil is removed from the premises). Specifies base prices for three tiers or types of crude oil subject to the 1979 energy regulations. Provides that the windfall profit on any barrel of crude oil shall not exceed the net income attributable to such barrel. Requires oil producers to maintain such records with respect to oil production as the Secretary of the Treasury may require. Specifies that windfall profit tax returns must be filed not later than the last day of the second month following the close of the taxable period. Requires the purchaser of taxable crude oil to furnish to the individual responsible for the payment of the windfall profits tax a monthly statement containing information with respect to: (1) the amount of taxable crude oil purchased during such month; (2) the removal price of such oil; (3) the base price and the adjusted base price of such oil; (4) the amount of such taxpayer's liability for tax; and (5) other information which the Secretary may require. Imposes fines and criminal penalties for willful failure to provide such information. Requires each partnership, estate, and trust producing domestic crude oil for any taxable period to furnish to each partner or beneficiary a written statement showing: (1) the name of such partner or beneficiary; (2) information received by the partnership, trust, or estate from the purchaser of crude oil; and (3) each partner's or beneficiary's share from the sale of crude oil. Establishes an Energy Trust Fund funded by revenues from the windfall profits tax. States that amounts in the trust fund shall be available for purposes as may hereafter be specified by law.
Bill· HRH.R. 3916 (96th)passed
United States · United States Congress · 3 May 1979
Amends the Comprehensive Alcohol Abuse and Alcoholism Prevention, Treatment, and Rehabilitation Act of 1970 and the Drug Abuse Office and Treatment Act of 1972 to extend through fiscal year 1980 the current level of authorization of appropriations for programs of assistance under such Acts. Requires that at least ten percent of the funds appropriated be obligated for primary prevention programs. Encourages the development of prevention and treatment programs for women and the elderly.
Bill· HRH.R. 3932 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to exclude from gross income up to $500 ($1,000 for married individuals filing jointly) of the interest earned on savings accounts in a bank, savings and loan association, or credit union.
Bill· HRH.R. 3924 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Revenue Act of 1978 to delay until December 31, 1980, the effective date of the provision providing for advance payment of the earned income credit.
Bill· HRH.R. 3912 (96th)referred
United States · United States Congress · 3 May 1979
Permits the same standard mileage rate to be used in determining the amount of income tax deductions for charitable and medical uses of automobiles as is used in determining the amount of income tax deductions for business uses of automobiles.
Bill· HRH.R. 3908 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to allow individuals an income tax credit equal to 25 percent of the total cost of heating oil purchased by such individuals for use in a residence for residential purposes. Limits the dollar amount of such credit to $200 for the taxable year. Reduces the amount of such credit by one percent of the amount by which the taxpayer's adjusted gross income exceeds $15,000. Provides for the termination of the credit for taxable years ending after December 31, 1983.
Bill· HRH.R. 3911 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to remove the limit on the amount of trade or business expenses which a Member of Congress may deduct from gross income in a taxable year.
Bill· HRH.R. 3922 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act of 1976 which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.
Bill· HRH.R. 3907 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to allow pensioners under a public retirement system and other retirees aged 65 or over a $5,000 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.
Bill· HRH.R. 3910 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to allow tenants who own an interest in the residential real property which they rent an income tax deduction for any real property taxes assessed against such interest.
Bill· HRH.R. 3906 (96th)referred
United States · United States Congress · 3 May 1979
Amends the Internal Revenue Code to allow pensioners under a public retirement system and other retirees aged 65 or over a $5,000 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.
Bill· SS. 1063 (96th)referred
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to eliminate the requirement that the seller, under an installment sales agreement, receive no more than 30 percent of the selling price in the taxable year of the sale. Requires that the selling price of personal property exceed $3,000 (presently $1,000). Eliminates the requirement that a transaction under the installment sales method must involve two or more payments. Denies installment sales treatment for transactions (except stock redemptions) between related individuals. Requires a decedent's undischarged installment sales obligation to be treated as income in respect of a decedent.
Bill· SS. 1062 (96th)referred
United States · United States Congress · 2 May 1979
Subtitle F Revision Act of 1979 - Amends the Internal Revenue Code to provide for the payment of interest to an individual whose property is wrongfully seized by the Internal Revenue Service. Repeals the requirement that an individual who transfers property with a fair market value in excess of $50,000 to a tax-exempt organization must file an informational return detailing such transaction. Repeals provisions of the Internal Revenue Code which require tax-exempt private foundations with assets of $5,000 or more to make annual reports of their receipts and expenditures. Requires that information previously required by such annual reports be included in the foundation's annual tax return. Imposes the same reporting requirements on non-exempt charitable trusts and private foundations. Requires that such returns be opened to public inspection and imposes a fine for failure to do so. Permits private foundations to treat as confidential, and not to list on their tax returns, the name and address of any indigent or needy recipient of charitable gifts or grants amounting to $1,000 or less during the taxable year. Repeals the additional 25 percent tax penalty for taxpayers who attempt to evade payment of taxes by removing their property from the country or concealing it. Repeals provisions which require Corporations to file informational returns with respect to stock options granted to their employees. Conforms the due date for gift tax and income tax returns. Grants an automatic extension of time for filing gift tax returns when an extension for filing the donor's income tax return is granted. Requires the disclosure of manufacturers' excise tax information to State tax officials.
Bill· HRH.R. 3897 (96th)passed
United States · United States Congress · 2 May 1979
Amends the International Development and Food Assistance Act of 1978 to authorize the President to waive the prohibition against assistance to Uganda upon determining and reporting to Congress that: (1) Uganda is not violating human rights; and (2) the assistance would further U.S. foreign policy interests. Amends the Foreign Assistance and Related Programs Appropriations Act, 1979, to authorize the President to waive the prohibition against certain assistance to Uganda upon making the above mentioned determinations and reports to Congress.
Bill· HRH.R. 3889 (96th)referred
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to grant jurisdiction to the United States Tax Court or any United States district court to enter a declaratory judgment in a controversy involving the issue of whether a tax ruling of the Secretary of the Treasury is in accordance with existing law. Grants standing to bring such action to any United States person whose trade or business is disadvantaged by such ruling, or any taxpayer if such ruling results in a loss of revenue to the United States Treasury. Denies standing to any person who was a party to the proceedings with respect to which such ruling was issued, or any organization if a substantial number of its shareholders were involved in such proceeding. Grants a right of intervention to any individual who would otherwise have standing to petition for a declaratory judgment under this Act. Requires that the person bringing a petition for a declaratory judgment notify the Secretary of his intentions at least 90 days before the filing of the petition. Requires the Secretary to publish a notice in the Federal Register that such petition has been filed. Awards attorney's fees to any party bringing a petition who prevails on the merits of the case. Denies a carryover of income tax credit amounts which would have been disallowed if a tax ruling permitting such credit had been declared illegal by a court under the provisions of this Act.
Bill· HRH.R. 3900 (96th)referred
United States · United States Congress · 2 May 1979
Subtitle F Revision Act of 1979 - Amends the Internal Revenue Code to provide for the payment of interest to an individual whose property is wrongfully seized by the Internal Revenue Service. Repeals the requirement that an individual who transfers property with a fair market value in excess of $50,000 to a tax-exempt organization must file an informational return detailing such transaction. Repeals provisions of the Internal Revenue Code which require tax-exempt private foundations with assets of $5,000 or more to make annual reports of their receipts and expenditures. Requires that information previously required by such annual reports be included in the foundation's annual tax return. Imposes the same reporting requirements on non-exempt charitable trusts and private foundations. Requires that such returns be opened to public inspection and imposes a fine for failure to do so. Permits private foundations to treat as confidential, and not to list on their tax returns, the name and address of any indigent or needy recipient of charitable gifts or grants amounting to $1,000 or less during the taxable year. Repeals the additional 25 percent tax penalty for taxpayers who attempt to evade payment of taxes by removing their property from the country or concealing it. Repeals provisions which require corporations to file informational returns with respect to stock options granted to their employees. Conforms the due date for gift tax and income tax returns. Grants an automatic extension of time for filing gift tax returns when an extension for filing the donor's income tax return is granted. Requires the disclosure of manufacturers' excise tax information to State tax officials.
Bill· HRH.R. 3884 (96th)referred
United States · United States Congress · 2 May 1979
Legal Fees Reimbursement Act of 1979 - Amends the Internal Revenue Code to require the Federal Government to reimburse taxpayers who prevail in tax litigation initiated by the Government or by the taxpayer contesting a tax deficiency assessment for all reasonable litigation expenses incurred by such taxpayer. Includes within the meaning of "reasonable litigation expenses" all actual attorneys' fees, court costs, expert witnesses, clerical assistance, travel expenses, preparation of documents, and other related and necessary expenses.
Bill· HRH.R. 3899 (96th)referred
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to eliminate the requirement that the seller, under an installment sales agreement, receive no more than 30 percent of the selling price in the taxable year of the sale. Requires that the selling price of personal property exceed $3,000 (presently $1,000). Eliminates the requirement that a transaction under the installment sales method must involve two or more payments. Denies installment sales treatment for transactions (except stock redemptions) between related individuals. Requires a decedent's undischarged installment sales obligation to be treated as income in respect of a decedent.
Bill· HRH.R. 3891 (96th)referred
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to permit taxpayers who do not itemize income tax deductions to claim a deduction from gross income for charitable contributions.
Bill· HRH.R. 3887 (96th)referred
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to exempt government chartered air museums operated exclusively for the care or use of antique, custom-built, racing, military or other special types of aircraft from the excise taxes on special fuels and the use of civil aircraft.
Bill· HRH.R. 3890 (96th)referred
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings.
Bill· HRH.R. 3878 (96th)referred
United States · United States Congress · 2 May 1979
Tuition Tax Relief Act of 1979 - Amends the Internal Revenue Code to allow taxpayers an income tax credit equal to 50 percent of the tuition costs incurred by such taxpayers for their higher education or that of their spouses or dependents. Limits the dollar amount of such credit to $250 for calendar years 1979 and 1980, and $500 for calendar year 1981 and thereafter. Treats tuition payments as paid for calendar year 1979 if such payments are made on or after August 1, 1979, and before February 1, 1980, for education furnished on or after August 1, 1979, and before January 1, 1980, and for calendar years after 1979 if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Excludes graduate students from eligibility for the credit. Requires full-time or qualified half-time attendance at an eligible educational institution (college or post-secondary vocational school). Excludes from the definition of "tuition" any amounts paid for books, supplies, and equipment for courses of instruction, or meals, lodging, transportation, and other living expenses. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.
PreviousPage 13 of 14Next