Taxation

Fisheries Restoration and Irrigation Mitigation Act of 2007

United States · United States Congress · 24 May 2007

Fisheries Restoration and Irrigation Mitigation Act of 2007 - Amends the Fisheries Restoration and Irrigation Mitigation Act of 2000 to direct the Secretary of the Interior, acting through the Director of the U.S. Fish and Wildlife Service, to give priority to any project that has a total cost of less than $2.5 million (currently, $5 million). Authorizes the Secretary, without further appropriation and without fiscal year limitation, to accept any amounts provided to the Secretary by the Administrator of the Bonneville Power Administration. Requires: (1) any amounts provided by the Bonneville Power Administration directly or through a grant to another entity for a project carried out under the Program to be credited toward the non-federal share of project costs; and (2) the Secretary's report on projects under such Act to be made after partnering with local governmental entities and the states in the Pacific Ocean drainage area (Oregon, Washington, Montana, and Idaho). Authorizes appropriations for the Act through FY2014. Sets forth limits and requirements on the amount that may be used each fiscal year for federal and state administrative expenses of carrying out this Act.

Marine and Hydrokinetic Renewable Energy Promotion Act of 2007

United States · United States Congress · 24 May 2007

Marine and Hydrokinetic Renewable Energy Promotion Act of 2007- Directs the Secretary of Energy to establish: (1) a marine and hydrokinetic renewable energy research program; and (2) an Adaptive Management and Environmental Fund to lend funds to approved applicants to cover the costs of projects that produce marine and hydrokinetic renewable energy. Instructs the Secretary of Commerce and the Secretary of the Interior to prepare jointly programmatic environmental impact statements regarding the impacts of the deployment of marine and hydrokinetic renewable energy technologies in U.S. navigable waters. Amends the Internal Revenue Code to allow: (1) a tax credit for electricity produced from marine and hydrokinetic renewable energy; and (2) an investment credit and five-year depreciation for equipment which produces electricity from marine and hydrokinetic renewable energy. Denies a tax credit for producing fuel from a nonconventional source (dual benefit) with respect to a marine and hydrokinetic facility for which an investment credit under this Act is claimed by the taxpayer.

Universal Higher Education and Lifetime Learning Act of 2007

United States · United States Congress · 24 May 2007

Universal Higher Education and Lifetime Learning Act of 2007 - Amends the Internal Revenue Code of 1986 to replace the Hope Scholarship and Lifetime Learning Tax Credits with a partially refundable Higher Education Tax Credit covering: (1) up to 50% of a taxpayer's higher education expenses for a taxable year that do not exceed $3,000; and (2) up to 30% of such expenses between $3,000 and $8,000. Sets a lifetime credit limitation of $12,000 per student. Applies the credit to no more than two years of graduate education. Repeals the tax deduction for qualified tuition and related expenses.

National Insurance Act of 2007

United States · United States Congress · 24 May 2007

National Insurance Act of 2007 - Establishes in the Department of the Treasury an Office of National Insurance (ONI), headed by a Commissioner of National Insurance, with Divisions of Insurance Fraud and of Consumer Affairs, and an Office of the Ombudsman. Authorizes the Commissioner to supervise, regulate, and provide for registration of insurance self-regulatory organizations. Requires the Commissioner to supervise national insurers and national agencies, including chartering and licensing. Removes them, as well as federally licensed insurance producers, from state oversight of insurance business practices. Authorizes the Commissioner to provide for the organization, operation, and regulation of National Insurance Companies and National Insurance Agencies, including U.S. branches of non-U.S. Insurers. Requires national insurers to obtain a federal license. Provides for conversion of state insurers to national insurers or state insurance agencies to national agencies, and vice versa. Prescribes requirements for national life insurer product regulation, including mandatory election for either national or state participating policy procedures governing a national life insurer in mutual form. Sets forth requirements governing prompt corrective action. Authorizes the Commissioner to: (1) license insurers that are not national insurers to provide reinsurance; and (2) issue federal insurance producer licenses. Restricts specified state actions. Provides for: (1) mergers, consolidations, and acquisitions of national insurers and national agencies; and (2) conversion of stock life insurers to national life insurer in mutual form, and vice versa. Subjects national insurers and national agencies to state taxation. Prohibits states from preventing or restricting national insurers from engaging in specified insurance business practices. Requires registration with the Commissioner of national insurers that belong to an insurance holding company system. Authorizes the Commissioner to appoint the ONI as receiver for a national insurer for rehabilitation or liquidation. Requires national insurers to join guaranty associations in each state, which may levy assessments on them for purposes of insolvency protection. Establishes a National Insurance Guaranty Corporation to provide benefits to policyholders of a national life insurer under federal receivership. Sets forth requirements governing claims covered for policy holders of national property/casualty insurers. Applies federal antitrust laws to national insurers, national agencies, and federally licensed insurance producers. Exempts national insurers, national agencies, and federally licensed insurance producers from state regulation, except as expressly provided in this Act.

Defend the American Dream Act of 2007

United States · United States Congress · 24 May 2007

Defend the American Dream Act of 2007 - Amends the Immigration and Nationality Act to require employers of H-1B (specialty occupations) nonimmigrants to use one of three specified methods (whichever results in the highest wages) to determine wages for purposes of required wage attestations. Requires such employers who previously employed one or more H-1B nonimmigrants to submit with their labor condition application (LCA) a copy of the W-2 Wage and Tax Statement filed with respect to those nonimmigrants. Extends to 180 days the period during which certain H-1B employers must show nondisplacement of U.S. workers. Requires such employers to actively engage in recruitment efforts. Prohibits such employers from outsourcing or otherwise contracting for the placement of an H-1B nonimmigrant with another employer, regardless of whether the other employer is H-1B dependent employer. Revises H-1B employer requirements with respect to: (1) job advertising on a free Department of Labor website (as required under this Act); (2) information sharing; (3) prohibiting H-1B-exclusive employment advertising; and (4) prohibiting an employer of not less than 50 employees in the United States from having more than 50% H-1B nonimmigrant employees. Eliminates the exemption from H-1B numerical admission limitations for certain aliens with a US master's or higher degree. Revises the H-1B definition of "specialty occupation." Requires the Secretary of Labor to be responsible for investigations of wage complaints and allegations of fraud in the filing of LCAs. Increases monetary penalties for LCA violations. Applies the nondisplacement requirement to all H-1B employers. Provides H-1B alien whistleblower protections.

To amend the Internal Revenue Code of 1986 to reduce the rate of tax on distilled spirits to its pre-1985 level.

United States · United States Congress · 24 May 2007

Amends the Internal Revenue Code to reduce the tax rate on distilled spirits.

Enhanced Protection of the Internal Revenue Service and Its Employees Act of 2007

United States · United States Congress · 24 May 2007

Enhanced Protection of the Internal Revenue Service and Its Employees Act of 2007 - Amends the Inspector General Act of 1978 to eliminate the exception to the duties of the Treasury Inspector General for Tax Administration for protecting the physical security of Internal Revenue Service (IRS) employees.

Assured Funding for Veterans Health Care Act

United States · United States Congress · 24 May 2007

Assured Funding for Veterans Health Care Act - Requires the Secretary of the Treasury to make available to the Secretary of Veterans Affairs for programs, functions, and activities of the Veterans Health Administration for FY2008 130 percent of the amount obligated during FY2006. Adjusts the amount provided for fiscal years after FY2008 based on the number of enrolled veterans and the number of other persons eligible but not enrolled who are provided care, multiplied by the per capita baseline amount for FY2006, as increased by the percentage increase in the Consumer Price Index. Prohibits the availability of such funds for: (1) construction, acquisition, or alteration of veterans' medical facilities (other than for repairs provided for before the date of enactment of this Act); or (2) grants for the construction of state home facilities for the furnishing of veterans' domiciliary, nursing home, and hospital care.

Seniors Financial Security Act of 2007

United States · United States Congress · 24 May 2007

Seniors Financial Security Act of 2007 - Amends the Internal Revenue Code to repeal the inclusion in gross income for income tax purposes of social security and tier 1 railroad retirement benefits.

Renewable Energy Credit Extension Act of 2007

United States · United States Congress · 24 May 2007

Renewable Energy Credit Extension Act of 2007 - Amends the Internal Revenue Code to: (1) extend through 2013 the tax credit for electricity produced from certain renewable resources (e.g., wind, biomass, poultry waste); and (2) allow certain organizations, including tax-exempt organizations, state and local governments, and Indian tribal governments, to sell unused amounts of such tax credit.

America's Better Classrooms Act of 2007

United States · United States Congress · 24 May 2007

America's Better Classrooms Act of 2007 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified public school modernization bonds, defined to include: (1) bonds for the construction, rehabilitation, or repair of a public school facility or for the acquisition of land for such facility (qualified school construction bonds); and (2) bonds to finance certain academic programs below the postsecondary level in empowerment zones or enterprise communities (qualified zone academy bonds). Establishes a national limitation on the issuance of such bonds and provides for the allocation of bond amounts among the states according to a specified formula. Terminates the authority for issuance of such bonds after 2009. Amends the General Education Provisions Act to apply certain labor standards to public school construction projects financed by this Act. Amends the Workforce Investment Act of 1998 to require states to establish employment and training programs relating to the construction or reconstruction of public school facilities.

To amend the Internal Revenue Code of 1986 to treat charitable remainder pet trusts in a manner similar to charitable remainder annuity trusts.

United States · United States Congress · 24 May 2007

Amends the Internal Revenue Code to provide for the tax treatment of a charitable remainder pet trust as a charitable remainder annuity trust. Defines "charitable remainder pet trust" as a trust which pays a specified annual amount (for a maximum term of 20 years) for the care of domesticated companion animals living at the time of creation of the trust.

E-85 PUMP Act

United States · United States Congress · 24 May 2007

Promoting the Use of Mixed Petroleum Act or the E-85 PUMP Act - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for alternative fuel vehicle refueling property from 30 to 50%; (2) increase the limit on such credit for commercial properties to $50,000; and (3) extend such credit through 2014. Amends the Clayton Antitrust Act to make it an unlawful restriction of trade to prohibit a service station franchisee from installing alternative fuel vehicle refueling property.

Fuel Efficiency Encouragement Act of 2007

United States · United States Congress · 24 May 2007

Fuel Efficiency Encouragement Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the limitation on the number of new qualified hybrid and advanced lean-burn technology vehicles eligible for the alternative motor vehicle tax credit; and (2) provide a tax credit for manufacturing new qualified hybrid motor vehicles.

Essential Oral Health Care Act of 2007

United States · United States Congress · 24 May 2007

Essential Oral Health Care Act of 2007 - Amends title V (Maternal and Child Health Services) of the Social Security Act (SSA) to direct the Secretary of Health and Human Services to award grants to up to six entities to participate as pilot sites for the Community Dental Health Coordinator model developed as a new mid-level allied dental professional who will work in underserved communities where residents have no or limited access to oral health care. Requires the Secretary also to award grants to eligible entities to: (1) purchase portable or mobile dental equipment; and (2) pay for appropriate operational costs for the provision of free dental services to underserved populations. Amends SSA title XIX (Medicaid) and title XXI (State Children's Health Insurance Program (SCHIP)) to provide for an increase in the federal medical assistance percentage (FMAP) for states implementing requirements that ensure that children enrolled in the state Medicaid plan and/or SCHIP have access to oral health care services to the same extent as such services are available to the pediatric population of the state. Amends the Internal Revenue Code to allow a tax credit for the donation of qualified dental services to qualified low income individuals.

Gas Price Relief Act of 2007

United States · United States Congress · 24 May 2007

Gas Price Relief Act of 2007 - Amends the Internal Revenue Code to suspend certain federal motor fuel excise taxes until the average price of unleaded regular gasoline is less than $3.00 per gallon for a period of six consecutive months (suspension period). Provides for adjustments to such excise taxes for floor stocks of motor fuels held by dealers prior to or after the suspension period. Repeals provisions allowing a taxpayer election to expense the cost of qualified refinery property. Transfers to the Highway Trust Fund increased tax revenues resulting from such repeal. Requires the Federal Trade Commission (FTC) to monitor gasoline prices in the United States and to report to Congress on its findings. Requires the Speaker of the House of Representatives to establish a Commission on Gas Price Relief to study the causes of high oil prices.

Providing for consideration of the Senate amendment to the bill (H.R. 2206) making emergency supplemental appropriations and additional supplemental appropriations for agricultural and other emergency assistance for the fiscal year ending September 30, 2007, and for other purposes.

United States · United States Congress · 24 May 2007

Sets forth the rule for consideration of the Senate amendment to the bill (H.R. 2206) making emergency supplemental appropriations and additional supplemental appropriations for agricultural and other emergency assistance for the fiscal year ending September 30, 2007.

ENDING TAXATION WITHOUT REPRESENTATION: THE CONSTITUTIONALITY OF S. 1257

United States · United States Senate · 23 May 2007

COMMUNICATIONS, TAXATION, AND FEDERALISM

United States · United States Senate · 23 May 2007

A bill to amend the Internal Revenue Code of 1986 to exclude property tax rebates and other benefits provided to volunteer firefighters, search and rescue personnel, and emergency medical responders from income and employment taxes and wage withholding.

United States · United States Congress · 23 May 2007

Amends the Internal Revenue Code to exclude from gross income rebates of state or local real or personal property taxes or any other benefit provided by a state or local government to volunteer firefighters, search and rescue personnel, and emergency medical responders. Exempts such rebates and benefits from employment and unemployment taxes and from withholding of tax requirements.

ITFA Extension Act of 2007

United States · United States Congress · 23 May 2007

ITFA Extension Act of 2007 - Amends the Internet Tax Freedom Act to extend until November 1, 2011: (1) the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce; and (2) provisions allowing states with Internet tax laws enacted prior to the ban to continue enforcing such laws.

Beginning Farmer and Rancher Opportunity Act of 2007

United States · United States Congress · 23 May 2007

Beginning Farmer and Rancher Opportunity Act of 2007 - Amends the Farm Security and Rural Investment Act of 2002 to make beginning farmer and rancher development grants available for energy conservation and organic and value-added alternative production. Caps annual grant amounts and permits consecutive grants to the same recipient. Sets forth grant evaluation criteria. Extends grant authority. Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to establish the new farmer individual development accounts pilot program under which: (1) an eligible participant shall deposit an agreed upon amount into an account which will be matched at 300% by the program ($9,000 annual cap); and (2) expenditures shall be used for specified farming purposes, including purchases of farmland, equipment and other assets, breeding stock, and timber, nut, or fruit trees. Revises: (1) the down payment loan program; and (2) the beginning farmer or rancher contract land sales program. Makes socially disadvantaged farmers or ranchers eligible for inventory sales preferences on real property acquired by the Secretary through security servicing. Increases direct and operating agricultural loan limits. Requires the Secretary to establish a plan to transition agricultural loan borrowers to private credit sources. Increases fiscal year aggregate loan and specified set-aside levels. Makes socially disadvantaged farmers or ranchers eligible for certain loan set-asides, and extends such set-aside authority. Includes among soil and water conservation grant priority recipients: (1) beginning or socially disadvantaged farmers or ranchers; and (2) owners or tenants who use the loans to convert to sustainable or organic agricultural production systems. Amends the Food Security Act of 1985 with respect to the conservation reserve program to permit the Secretary to modify a contract to facilitate land transition from a retired or retiring owner or operator to a beginning or socially disadvantaged farmer or rancher in order to return some or all of the land into production using sustainable grazing or crop production methods. Sets forth transition options for beginning and socially disadvantaged farmers or ranchers. Makes socially disadvantaged farmers or ranchers eligible for cost sharing under the conservation security program and the environmental quality incentives program. Amends the Competitive, Special, and Facilities Research Grant Act to include among "high priority research" areas of concern to beginning farmers or ranchers. Amends the Agricultural Research, Extension, and Education Reform Act of 1998 to include farm transfer options for beginning or socially disadvantaged farmers or ranchers among priority grant areas. Amends the Federal Crop Insurance Act to provide emphasis on risk management education for beginning, immigrant, retiring, or socially disadvantaged farmers or ranchers.

Universal Higher Education and Lifetime Learning Act of 2007

United States · United States Congress · 23 May 2007

Universal Higher Education and Lifetime Learning Act of 2007 - Amends the Internal Revenue Code of 1986 to replace the Hope Scholarship and Lifetime Learning Tax Credits with a partially refundable Higher Education Tax Credit covering: (1) up to 50% of a taxpayer's higher education expenses for a taxable year that do not exceed $3,000; and (2) up to 30% of such expenses between $3,000 and $8,000. Sets a lifetime credit limitation of $12,000 per student. Applies the credit to no more than two years of graduate education. Repeals the tax deduction for qualified tuition and related expenses.

Emergency Gas Price Relief Act of 2007

United States · United States Congress · 23 May 2007

Emergency Gas Price Relief Act of 2007 - Amends the Internal Revenue Code to reduce highway motor fuel excise taxes by 10 cents per gallon, beginning on the date when the retail price for gasoline is greater than $3.00 per gallon and ending when such price is less than $2.50 per gallon (reduction period). Allows a tax credit or refund of such excise tax to a taxpayer for floor stocks of highway motor fuels held by dealers prior to the reduction period.

End Discriminatory State Taxes for Automobile Renters Act of 2007

United States · United States Congress · 23 May 2007

End Discriminatory State Taxes for Automobile Renters Act of 2007 - Prohibits states or local governments from levying or collecting a discriminatory tax (as defined by this Act) on the rental of motor vehicles, motor vehicle rental businesses, or motor vehicle rental property.

Biennial Budgeting Act of 2008

United States · United States Congress · 23 May 2007

Biennial Budgeting Act of 2008 - Amends the Congressional Budget Act of 1974 to require: (1) biennial (instead of annual) budget resolutions; (2) biennial appropriations Acts; and (3) biennial government strategic and performance plans. Makes conforming amendments to the Rules of the House of Representatives. Defines the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year. Requires: (1) a federal agency, upon request by a congressional committee, to provide appropriate information regarding its appropriations requests and program administration; (2) the Comptroller General to furnish to such committee summaries of any audits or reviews of such program which the Comptroller General has completed during the preceding six years; and (3) the Comptroller General, Director of the Congressional Budget Office (CBO), and the Director of the Congressional Research Service (CRS) to furnish such committee appropriate information, studies, analyses, and reports. Requires the Director of the Office of Management and Budget (OMB) to determine and report to Congress on the impact and feasibility of changing the definition of a fiscal year, and the budget process based on that definition, to a two-year fiscal period with a biennial budget process based on such period. Requires the President's budget submission for FY2010 to include: (1) an identification of the budget accounts for which an appropriation should be made for each fiscal year of the FY2010-FY2011 biennium; and (2) budget authority that should be provided for each such fiscal year for the budget accounts. Directs: (1) the House and Senate committees, during the first session of the 110th Congress, to work with the Comptroller General to develop plans to transition program authorizations to a multi-year schedule; and (2) the Comptroller General, during such Congress, to continue to provide assistance to Congress with respect to programmatic oversight, and in particular to assist the congressional committees in designing and conforming programmatic oversight procedures for FY2010-FY2011 biennium.

RIDE Act of 2007

United States · United States Congress · 23 May 2007

Reduce Individuals' Dependence on Energy Act of 2007 or the RIDE Act of 2007 - Amends the Internal Revenue Code to allow individual taxpayers a deduction from gross income for transportation expenses on federal, state, or local government mass transit facilities.

To amend the Internal Revenue Code of 1986 to extend the special rule for recognition of gain on dispositions to implement Federal Energy Regulatory Commission or State electric restructuring policy.

United States · United States Congress · 23 May 2007

Amends the Internal Revenue Code to extend through 2009 the special rule for recognition of gain from the sale or disposition of: (1) property used to provide electric transmission services; or (2) any stock or partnership interest in a corporation or partnership whose principal trade or business consists of providing electric transmission services.

Income-Dependent Education Assistance Act of 2007

United States · United States Congress · 23 May 2007

Income-Dependent Education Assistance Act of 2007 - Directs the Secretary of Education to conduct a direct income-dependent education assistance (IDEA) loan program, from July 1, 2008, through July 1, 2014, under which student borrowers of Federal Family Education Loans (FFELs) or Direct Loans (DLs), under parts B and D of title IV of the Higher Education Act of 1965, may elect to convert or consolidate such loans to direct IDEA loans. Provides that when a student defaults on a loan under the FFEL or DL programs and it is repaid or canceled by the Secretary, it is thereby converted to a direct IDEA loan. Amends the Internal Revenue Code to provide for collection of IDEA loan repayments through the income tax collection system.

To amend the Internal Revenue Code of 1986 to permit distributions from individual retirement plans to be contributed to 529 plans without including the distribution in gross income.

United States · United States Congress · 23 May 2007

Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for the purpose of making contributions to a qualified tuition program.

DEPARTMENT OF THE INTERIOR, ENVIRONMENT, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2008

United States · United States Senate · 22 May 2007

Sales Tax Fairness and Simplification Act

United States · United States Congress · 22 May 2007

Sales Tax Fairness and Simplification Act - Grants the consent of Congress to the Streamlined Sales and Use Tax Agreement (Agreement), the multistate agreement for the administration and collection of sales and use taxes adopted on November 12, 2002. Expresses the sense of Congress that the Agreement provides sufficient simplification and uniformity to warrant federal authorizations to states that are parties to it (member states) to require remote sellers (sellers without a physical presence in the taxing state) to collect and remit the sales and use taxes of such states and their local taxing jurisdictions. Authorizes each member state, after 10 states (comprising at least 20% of all states imposing a sales tax) have petitioned for and become member states, to require all sellers, except those sellers with gross remote taxable sales nationwide of less than $5 million, to collect and remit sales and use taxes on remote sales owed to such member state under the terms of the Agreement. Permits a federally recognized Indian tribe that imposes a generally applicable sales tax to petition to become a member state. Allows any person affected by the Agreement to petition the Governing Board established by the Agreement for a determination of any issue arising under the Agreement. Provides for judicial review of Governing Board determinations by the U.S. Court of Federal Claims. Sets forth minimum simplification requirements for the Agreement. Expresses the sense of Congress that member states should work with each other to prevent double taxation where a foreign country has imposed a transaction tax on a digital good or service.

Stop Over Spending Act of 2007

United States · United States Congress · 22 May 2007

Stop Over Spending Act of 2007 - Second Look at Wasteful Spending Act of 2007 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to transmit annually to Congress a maximum of four special messages that propose to rescind dollar amounts of discretionary budget authority, items of direct spending, and targeted tax benefits. Requires an analysis by: (1) the Congressional Budget Office (CBO) of an estimated savings in budget authority or outlays resulting from such rescission; and (2) the Joint Committee on Taxation of an estimated savings resulting from repeal of targeted tax benefits. Requires any rescinded budget authority, items of direct spending, or targeted tax benefit to be dedicated only to deficit reduction, and not to be used as an offset for other spending increases or revenue reductions. Provides for adjustment of: (1) committee allocations resulting from such rescission; and (2) applicable limits, as appropriate, under this Act. Sets forth procedures for expedited congressional consideration of a proposed rescission. Requires: (1) the President to issue an order fully implementing without change all sequestrations required by the Office of Management and Budget (OMB) in its Final Sequestration Report; and (2) the Government Accountability Office (GAO) to report to Congress and the President on the order's compliance with this Act. Prescribes requirements for discretionary sequestration reports by OMB and GAO, discretionary spending and maximum deficit limits, federal tax gap initiative, executive and legislative branch sequestration procedures, and congressional response to low economic growth. Provides adjustments in such discretionary spending limits for: (1) the Global War on Terrorism overseas; (2) U.S. forces in such War; (3) addressing deficiencies at Walter Reed Army Medical Center for injured individuals resulting from such War; (4) continuing disability reviews and Supplemental Security Income (SSI) redeterminations for the Social Security Administration; (5) health care fraud and abuse; and (6) unemployment insurance improper payment reviews. Authorizes the President to exempt military personnel accounts from sequestration or provide a lower uniform percentage reduction. Prohibits the President's budget from exceeding the maximum deficit amount for any fiscal year. Requires biennial budget resolutions, appropriations Acts, and government strategic and performance plans. Establishes the National Commission on Entitlement Solvency and the Commission on Congressional Budgetary Accountability and Review of Federal Agencies. Amends the Congressional Budget Act of 1974 to revise budget resolution requirements. Authorizes the chairman of the Committee on the Budget to notify the Senate of a Medicare funding warning. Makes it out of order to consider any legislation that would cause any increase in direct spending, net of proposals to change direct spending receipts, or revenues contained in the measure if the Senate has been notified of such warning for two consecutive calendar years. Makes it out of order in the Senate to consider legislation that includes a federal income tax rate increase. Requires the concurrent resolution on the budget, for any year when the CBO projects an on-budget deficit (excluding Social Security) for the budget year or any subsequent fiscal year, except in specified circumstances, to: (1) reduce on-budget deficits relative to the CBO projections and put the budget on a path to achieve on-budget balance within five years; and (2) include provisions to protect Social Security and facilitate deficit reduction, other than reducing Social Security benefits. Requires the CBO to prepare an estimate for legislation reported from committee (except measures within the jurisdiction of the Committee on Appropriations) on whether the measure would cause a net increase in direct spending exceeding $5 billion in any of the four 10-year periods between FY2016-FY2055. Sets forth provisions avoiding Pay-As-You-Go points of order in the Senate against consideration of appropriations legislation. Provides for such Pay-As-You-Go points of order in certain circumstances.

AID for America Act of 2007

United States · United States Congress · 22 May 2007

Assistance to Individuals Delivering for America Act of 2007 or the AID for America Act of 2007 - Amends the Internal Revenue Code to allow employers a business tax credit for 50 percent of the wages paid to employees serving as disaster relief volunteers. Limits the amount of such credit to $100 per day per employee.

Rural America Job Assistance and Creation Act

United States · United States Congress · 22 May 2007

Rural America Job Assistance and Creation Act - Directs the Secretary of Labor to make matching grants to regional consortia meeting specified criteria to improve the job skills necessary for employment in specific industries. Directs the Secretary of Commerce to make grants to establish and support entities that provide business incubator services (necessary to initiate and sustain operations of a newly established business, including legal, intellectual property, and technology services and planning) for small- and medium-sized businesses. Directs the Comptroller General to study how rural infrastructure, venture capital, and federal programs can enhance rural areas. Amends the Worker Adjustment and Retraining Notification Act to require employer notification of federal and state elected officials (as well as local ones) before dislocation of workers. Amends the Immigration and Nationality Act to require submission of H-1B labor condition applications at same time as H-1B nonimmigrant classification petitions. Amends the Internal Revenue Code to: (1) exclude certain amounts of severance payments from gross income; and (2) expand the work opportunity tax credit to include qualified small business employees.

Renewable Schools Energy Act of 2007

United States · United States Congress · 22 May 2007

Renewable Schools Energy Act of 2007 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified renewable school energy bonds. Defines "qualified renewable school energy bond" as a bond with a 20-year term, 95% of the proceeds of which are used for the purchase and installation of renewable energy products for public school and school district administrative buildings in states with a specified percentage of population growth.

State Veterans Home Modernization Act of 2007

United States · United States Congress · 21 May 2007

State Veterans Home Modernization Act of 2007 - Prohibits the Secretary of Veterans Affairs from approving any application for financial assistance for a construction project at a state veterans' home that is submitted 730 days after the enactment of this Act if the Secretary determines that the construction would result in an increase in the total number of beds in such state for which the Secretary makes per diem payments for the care of veterans residing in such homes. Expands the state home grant program of the Department of Veterans Affairs (VA) to authorize grants for noninstitutional care programs. Requires, for fiscal years after 2007, that not less than 10% of sums appropriated for VA home construction grants be used for grants to states which have submitted applications for noninstitutional care projects.

Affordable Gas Price Act

United States · United States Congress · 21 May 2007

Affordable Gas Price Act - Declares without force or effect all provisions of existing federal law that prohibit spending appropriated funds to conduct oil or natural gas leasing and preleasing activities for any area of the Outer Continental Shelf. Revokes all existing withdrawals by the President under the authority of the Outer Continental Shelf Lands Act. Amends the Alaska National Interest Lands Conservation Act to repeal: (1) the withdrawal of public lands within the Coastal Plain from entry or appropriation under federal mining or mineral leasing laws; and (2) the prohibition against the production, leasing, and development of oil and gas from the Arctic National Wildlife Refuge (ANWR). Amends the National Environmental Policy Act of 1969 to shield from judicial review mandatory statements by certain federal officials regarding the environmental impact of federal actions upon the quality of the human environment. Amends the Internal Revenue Code to: (1) set forth additional incentives for investment in oil refineries; (2) suspend the tax on highway motor fuels when retail gasoline exceeds a certain benchmark; and (3) increase mileage reimbursement rates. Authorizes the President to extend normal trade relations treatment to the products of the Russian Federation and Kazakhstan.

Deductibility and Incentives to Promote Learning Opportunities and Maximize Assistance (DIPLOMA) Act of 2007

United States · United States Congress · 21 May 2007

Deductibility and Incentives to Promote Learning Opportunities and Maximize Assistance (DIPLOMA) Act of 2007- Amends the Internal Revenue Code to: (1) allow an unlimited tax deduction for qualified tuition and related expenses for taxpayers whose adjusted gross incomes do not exceed $80,000 ($160,000 for joint returns); (2) extend such deduction through 2010; (3) allow a tax deduction for principal amounts paid on education loans for the first 60 months of such loans; (4) replace the Hope Scholarship tax credit with an earned tuition tax credit for the first $1,500 of qualified tuition and related expenses (50% of expenses over $1,500 up to $4,000) for four years of postsecondary education; and (5) make the tax credit for earned tuition and lifetime learning expenses refundable.

Kansas Disaster Tax Relief Assistance Act

United States · United States Congress · 17 May 2007

Kansas Disaster Tax Relief Assistance Act - Extends to businesses and individuals in certain Kansas counties declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1699-DR) by reason of severe storms and tornados beginning on May 4, 2007 (qualifying area) provisions of the Internal Revenue Code allowing: (1) suspension of certain limitations on personal casualty losses; (2) an extension of the period for replacing damaged property without recognizing gain; (3) an employee retention tax credit for affected businesses through 2007; (4) 50% bonus depreciation for affected businesses; (5) increased expensing of small business assets; (6) expensing of demolition and cleanup costs; (7) extended net operating loss carryback periods for losses attributable to storms and tornadoes and for public utility property disaster losses; (8) relaxed income verification requirements for tenants in low-income rental projects; and (9) penalty-free withdrawals and loans from individual retirement accounts and other tax-exempt pension plans. Directs the Secretary of Education to carry out a program of student loan repayment for college graduates residing or employed in a qualifying area. Amends the Internal Revenue Code with respect to individuals in a qualifying area to allow: (1) a tax credit for the lesser of 10% or $5,000 of the purchase price of a principal residence; (2) a capital loss deduction for the sale or exchange of a principal residence; and (3) the establishment of tax-exempt homestead accounts for the payment of education, business, medical, and other expenses. Allows: (1) business-related tax credits for investment in certain buildings and small businesses in rural areas; and (2) accelerated deprecation of investment property in rural areas.

A bill to enhance the defense nanotechnology research and development program.

United States · United States Congress · 17 May 2007

Amends the Bob Stump National Defense Authorization Act for Fiscal Year 2003 relating to the defense nanotechnology research and development program (program) to: (1) revise program purposes; (2) replace the Director of Defense Research and Engineering with the Under Secretary of Defense for Acquisition, Technology, and Logistics as program administrator; (3) outline program activities, including the development of a strategic plan for defense nanotechnology research and development that is integrated with the strategic plan for the National Nanotechnology Initiative; and (4) extend through 2011 program report requirements. Requires a report from the Comptroller General to the congressional defense and appropriations committees on progress made by the Department of Defense (DOD) in achieving program purposes.

Farm Risk Management Act for the 21st Century

United States · United States Congress · 17 May 2007

Farm Risk Management Act for the 21st Century - Directs the Secretary of Agriculture to contract with eligible operators and producers (risk management account contracts) to: (1) provide a reserve to assist in the stabilization of farm income during low-revenue years; (2) assist operators and producers to invest in value-added farms; and (3) recognize high levels of environmental stewardship. Sets forth risk management account contract provisions, including: (1) administration; (2) direct payments; (3) stewardship payments; (4) account transfers; and (5) tax treatment. Extends counter-cyclical payments. Amends the Farm Security and Rural Investment Act of 2002 to: (1) replace current national dairy market loss payment provisions with dairy payment provisions through FY2012; (2) revise and extend funding authority for the McGovern-Dole international food for education and child nutrition program; (3) extend funding for testing of biobased products for the federal biobased procurement program; (4) revise and extend the biorefinery development program; (5) revise and extend the rural renewable energy development program; and (6) replace current renewable and energy systems and energy improvements provisions with the rural energy for America program (funds through FY2014). Establishes a recourse loan program for each loan commodity through crop year 2014. Amends the Food Security Act of 1985 to extend: (1) the wetlands reserve program and increase maximum program acreage enrollment; (2) the environmental quality incentives program; (3) the conservation innovation grants program; and (4) the ground and surface water conservation program. Increases grassland reserve program maximum acreage enrollment. Extends authority to use Commodity Credit Corporation funds and facilities to carry out specified conservation-related programs. Amends the Food Stamp Act of 1977 with respect to: (1) combat pay and retirement account exclusions; (2) standard deduction increases; (3) child care deduction limits; (4) state cost-sharing during natural disasters; (5) minimum benefits; (6) program reauthorization; (7) program administration; (8) cash payment pilot projects; (9) block grants for Puerto Rico and American Samoa; (10) the commodity distribution program; (11) outreach grants; (12) the emergency food assistance program; and (13) community food projects. Establishes a community food assistance and food bank infrastructure grant program for eligible emergency feeding organizations. Amends the Richard B. Russell National School Lunch Act to extend: (1) the fruit and vegetable program; and (2) the farm to school program. Directs the Secretary of Transportation to offer to enter into a contract or grant agreement with a primary nongovernmental organization to establish the National Food for the Hungry Transportation Fund to track, collect, and deliver time-sensitive food products. Extends: (1) the forest land enhancement program; (2) the healthy forests reserve program; (3) the biomass research and development program; (4) the federal crop insurance adjusted gross revenue insurance pilot program; (5) the farmers' market promotion program; and (6) the fruit and vegetable nutrition promotion program.

A resolution to provide for a budget point of order against legislation that increases income taxes on taxpayers, including hardworking middle-income families, entrepreneurs, and college students.

United States · United States Congress · 17 May 2007

Provides for a point of order in the Senate against consideration of any legislation that includes a federal income tax rate increase, which may be waived or suspended only by an affirmative three-fifths vote.

To extend the authorization of appropriations for the Office of Government Ethics through fiscal year 2011.

United States · United States Congress · 17 May 2007

Amends the Ethics in Government Act of 1978 to authorize appropriations for the Office of Government Ethics for FY2008-FY2011.

To amend title 35, United States Code, to limit damages and other remedies with respect to patents for tax planning methods.

United States · United States Congress · 17 May 2007

Prohibits a civil action and certain civil remedies against taxpayers or tax practitioners for infringement of a patent for tax planning methods.

Generating Opportunity by Forgiving Educational Debt for Service Act of 2007

United States · United States Congress · 17 May 2007

Generating Opportunity by Forgiving Educational Debt for Service Act of 2007 - Amends the Internal Revenue Code to exclude from gross income student loan repayments by the federal government on behalf of federal employees and members of the Armed Forces on active duty. Exempts such repayments from social security taxes.

Assisting Doctors to Obtain Proficient and Transmissible Health Information Technology (ADOPT HIT) Act of 2007

United States · United States Congress · 17 May 2007

Assisting Doctors to Obtain Proficient and Transmissible Health Information Technology (ADOPT HIT) Act of 2007 - Amends the Internal Revenue Code to allow medical care providers to expense (i.e., deduct all costs in the current taxable year) up to $250,000 of the cost of health care information technology used primarily for the electronic creation, maintenance, and exchange of medical care information. Directs the Secretary of Health and Human Services to develop standards for hardware, software, and support services for the electronic exchange of health information.

MediKids Health Insurance Act of 2007

United States · United States Congress · 17 May 2007

MediKids Health Insurance Act of 2007 - Amends the Social Security Act to add a new title XXII (Medikids Program), which creates a program to guarantee comprehensive health care coverage, including prescription drugs for all children meeting specified age requirements. Creates the MediKids Trust Fund. Expands the membership of the Medicare Payment Advisory Commission to 19. Amends the Internal Revenue Code to: (1) impose a MediKids premium for the taxable year, with an exemption for very low-income taxpayers; and (2) create a refundable tax credit providing a catastrophic limit on MediKids cost-sharing expenses. Directs the Secretary of the Treasury to propose a gradual schedule of progressive tax changes to fund the Medikids program, as the number of enrollees grows in the out-years.

Responsible Renewable Energy Tax Credit Act of 2007

United States · United States Congress · 17 May 2007

Responsible Renewable Energy Tax Credit Act of 2007 - Amends the Internal Revenue Code to disallow the tax credit for renewable diesel used as fuel for any fuel derived from coprocessing biomass with a feedstock that is not biomass.

WEAN Off of Oil Act of 2007

United States · United States Congress · 17 May 2007

Windfall Energy Alternatives for the Nation (WEAN) Off of Oil Act of 2007 or the WEAN Off of Oil Act of 2007 - Amends the Internal Revenue Code to impose upon major integrated oil companies an excise tax of 50 percent of their net windfall profits from the production of taxable crude oil in a taxable year. Defines "windfall profit" as the excess of the removal price (sales price) of a barrel of taxable crude oil over the adjusted base price of such barrel (i.e., $50 per barrel, adjusted for inflation). Terminates such tax three years after the enactment of this Act. Allows a tax deduction for the payment of any windfall profit tax. Establishes a separate account to be funded by windfall profit tax receipts (to be known as the Strategic Energy Efficiency and Renewables Reserve) for the purpose of financing legislation to: (1) accelerate the use of clean domestic renewable energy resources and alternative fuels; (2) promote the utilization of energy-efficient products, practices, and conservation; and (3) increase research, development, and deployment of clean renewable energy and efficiency technologies.