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Bill· HRH.R. 3659 (96th)referred
United States · United States Congress · 23 April 1979
Establishes the Commission on Tax Revision pursuant to Congressional policy to provide a foundation for the comprehensive improvement of the Federal tax structure. Charges the Commission to study and investigate the provisions of the Internal Revenue Code of 1954 and other Federal laws related to taxation, giving particular attention to: (1) the extent to which taxation affects incentive to work and invest; (2) the burden of the different types of taxes on various levels of income; (3) the "erosion" of the tax base and loopholes in the tax laws; (4) the extent to which taxes should be earmarked; and (5) the desirability of using a flexible tax policy (e.g., delegating discretionary tax authority to the President of the United States) to promote economic growth and stability. Specifies various types of taxation which the Commission shall study . Sets forth provisions dealing with the membership, compensation, administration, and powers of the Commission. Requires the Commission to submit to Congress a detailed report of its findings. Provides for the termination of the Commission within 90 days after the submission of its report.
Bill· HRH.R. 3655 (96th)referred
United States · United States Congress · 23 April 1979
Truth in Taxation Act of 1979 - Requires the Secretary of the Treasury to include the following information on individual income tax returns: (1) the total U.S. tax revenues received for the two most recent fiscal years; (2) the total revenues received for each such year; (3) the total outlays of agencies of the Federal Government; (4) the public debt at the close of each such fiscal year; and (5) the Interest paid during each such fiscal year on outstanding obligations of the public debt.
Law· SS. 975 (96th)open
United States · United States Congress · 18 April 1979
Intelligence Authorization Act for Fiscal Year 1980 - Title I: Intelligence Activities - Authorizes appropriations for the intelligence activities of specified Federal agencies for fiscal year 1980. Directs the Select Committee on Intelligence of the Senate to prepare a classified report with respect to the authorization of such funds. Stipulates that such report shall be made available to the House Permanent Select Committee on Intelligence, the Committees on Appropriations and Armed Services of the Senate and the House of Representatives, and to appropriate entities of the intelligence community for which funds are authorized by this Act. Title II: Intelligence Community Staff - Authorizes appropriations of $12,627,000 for fiscal year 1980 to provide staff support and assistance to the Director of Central Intelligence. Sets forth the end strength for full-time personnel in the Intelligence Community Staff for such fiscal year. Title III: Central Intelligence Agency Retirement and Disability System - Authorizes appropriations of $51,600,000 for fiscal year 1980 to fund the Central Intelligence Agency Retirement and Disability Fund. Title IV: Technical Provision - Stipulates that appropriations authorized by this Act for salary, pay, retirement, and other benefits may be increased by such additional or supplemental amounts as may be necessary for increases authorized by law.
Resolution· HCONRESH.Con.Res. 107 (96th)passed
United States · United States Congress · 13 April 1979
Sets forth the congressional budget for the United States Government for fiscal year 1980. States that: (1) the recommended level of Federal revenues is $507,800,000,000, and the amount by which the aggregate level of Federal revenues should be decreased is zero; (2) the appropriate level of total new budget authority is $608,418,000,000; (3) the appropriate level of total budget outlays is $532,730,000,000; (4) the amount of the deficit in the budget which is appropriate in the light of economic conditions and all other relevant factors is $24,930,000,000; and (5) the appropriate level of the public debt is $888,800,000,000, and the amount by which the statutory limit on such debt should accordingly be increased is $58,800,000,000. Specifies the appropriate levels of new budget authority and the estimated budget outlays for each major functional category. Revises the second concurrent resolution on the budget for fiscal year 1979.
Resolution· SCONRESS.Con.Res. 22 (96th)passed
United States · United States Congress · 12 April 1979
Sets forth the congressional budget for the United States Government for fiscal year 1980, 1981, and 1982. States that the recommended levels of Federal revenues are: $503,600,000,000 for 1980; $576,200,000,000 for 1981; and $615,000,000,000 for 1982. States that the amount by which the aggregate levels of Federal revenues should be increased is $100,000,000 for fiscal year 1980 and $4,700,000,000 for fiscal year 1981, and decreased $49,900,000,000 for fiscal year 1982. States that the appropriate levels of total new budget authority for fiscal years 1980, 1981, and 1982 respectively are: $600,600,000,000; $637,500,000,000; and $687,200,000,000. Lists the appropriate levels of total budget outlays for fiscal years 1980, 1981, and 1982 respectively as follows: $532,400,000,000; $575,700,000,000; and $614,300,000,000. States that the amounts of the deficit or surplus in the budget which are appropriate in the light of economic conditions are as follows: a deficit of $28,800,000,000 in fiscal year 1980; and surpluses of $500,000,000 in fiscal year 1981 and $700,000,000 in fiscal year 1982. Sets the appropriate level of the public debt at: $890,700,000,000 for 1980, and the amount by which the temporary statutory limit on such debt should be accordingly increased is $60,700,000,000; $921,200,000,000 for 1981, and the amount by which the temporary statutory limit on such debt should be increased is $91,200,000,000; and $959,500,000,000 for 1982, and the amount by which the temporary statutory limit on such debt should be increased is $129,500,000,000. Specifies the appropriate levels of new budget authority and the estimated budget outlays for each major functional category. Revises the second concurrent resolution on the budget for fiscal year 1979.
Resolution· SCONRESS.Con.Res. 23 (96th)open
United States · United States Congress · 12 April 1979
Sets forth an alternative congressional budget for the United States Government for fiscal years 1980, 1981, and 1982. States that the recommended levels of Federal revenues are: $503,600,000,000 for 1980; $561,000,000,000 for 1981; and $632,600,000,000 for 1982. States that the amount by which the aggregate levels of Federal revenues should be increased is $100,000,000 for fiscal year 1980, and decreased is $14,300,000,000 for fiscal year 1981 and $35,900,000,000 for fiscal year 1982. States that the appropriate levels of total new budget authority for fiscal years 1980, 1981, and 1982 respectively are: $601,800,000,000, $641,200,000,000; and $693,400,000,000. Lists the appropriate levels of total budget outlays for fiscal years 1980, 1981, and 1982 respectively as follows: $533,500,000,000; $579,200,000,000; and $620,300,000. States that the amounts of the deficit or surplus in the budget which are appropriate in the light of economic conditions are as follows: deficits of $29,900,000,000 in fiscal year 1980 and $18,200,000,000 in fiscal year in 1981 and a surplus of $12,300,000,000 in fiscal year 1982. States that the appropriate level of the public debt is: $891,800,000,000 for 1980, and the amount by which the temporary statutory limit on such debt should be accordingly increased is $61,800,000,000; $941,000,000,000 for 1981, and the amount by which the temporary statutory limit on such debt should be increased is $111,000,000,000; and $967,700,000,000 for 1982, and the amount by which the temporary statutory limit on such debt should be increased is $137,700,000,000. Specifies the appropriate levels of new budget authority and the estimated budget outlays for each major functional category. Revises the second concurrent resolution on the budget for fiscal year 1979.
Bill· SS. 951 (96th)passed
United States · United States Congress · 10 April 1979
Amends the National Advisory Committee on Oceans and Atmosphere Act of 1977 to authorize appropriations for such Committee for fiscal years 1980 and 1981.
Bill· SS. 955 (96th)referred
United States · United States Congress · 10 April 1979
Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury to prepare, for distribution to taxpayers, brief but comprehensive pamphlets which set forth in nontechnical terms: (1) the rights and obligations of taxpayers during an audit; (2) the procedures which the Internal Revenue Service may use in enforcing revenue laws; and (3) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file taxpayer complaints. Requires a copy of such pamphlet to accompany the first communication from the Service to any taxpayer regarding tax liability. Establishes within the Internal Revenue Service an Office of Taxpayer Services, directed by an Assistant Commissioner of Internal Revenue, whose primary responsibilities shall include: (1) assisting taxpayers with information about tax returns, audits corrections, appeals procedures, and payment or document location; and (2) receiving and evaluating complaints of improper, abusive, or inefficient service by Internal Revenue Service personnel. Authorizes the Assistant Commissioner for Taxpayer Services to issue a Taxpayer Assistance Order prohibiting the Secretary, for up to 60 days after such issuance, from taking any assessment, collection, or other action adverse to a taxpayer if the Assistant Commissioner determines that such taxpayer is suffering from an unusual, unnecessary, or irreparable loss as a result of such action. Prescribes criminal penalties for: (1) any investigation by employees of the United States in connection with Federal tax laws which inquires into the beliefs, associations, or activities of any individual which are not directly related to such tax laws; or (2) the maintenance of any records containing information derived from such an investigation. Creates a civil cause of action for any taxpayer aggrieved by a prohibited investigation, or by the deprivation of any civil rights. Permits the award of a judgment of costs, including reasonable attorney's fees, to a prevailing taxpayer in any proceeding before the Tax Court. Requires the Internal Revenue Service, upon a taxpayer's request, to conduct any interview regarding a deficiency assessment in the taxpayer's residence or place of business, at a reasonable time convenient to the taxpayer. Requires the officer or employee conducting such interview to warn the taxpayer that: (1) he has a right to remain silent; (2) any statement he makes may be used against him; and (3) he has the right to the presence of an attorney. Exempts certain income producing property from levy for nonpayment of taxes. Directs the Comptroller General of the United States to establish, and to report annually to Congress on, a program to provide for a continuing audit and investigation of the efficiency, uniformity, and equity of the administration of the internal revenue laws of the United States.
Bill· SS. 943 (96th)referred
United States · United States Congress · 10 April 1979
Medical and Legal Professional Liability Insurance Tax Equity Act of 1979 - Amends the Internal Revenue Code to allow a taxpayer an income tax deduction for cash amounts paid to a medical or legal malpractice liability trust or to a captive insurer (wholly or partially-owned or controlled by the taxpayer) of the taxpayer for malpractice insurance. Limits the amount of such deduction to the smaller of: (1) five percent of the taxpayer's gross income from the date of medical or legal services; (2) the amount which, when added to the sum of the balance of the taxpayer's malpractice liability trust and the net contributions of the taxpayer to his captive insurer, equals 15 percent of the taxpayer's yearly gross receipts from the sale of medical or legal services; or (3) $100,000. Disallows deductions for any malpractice liability loss except to the extent that such loss exceeds amounts in the malpractice liability trust. Provides that amounts in a malpractice liability trust which are used for purposes other than to satisfy malpractice claims shall be included in the taxpayer's gross income for the taxable year, and the income tax of the taxpayer shall be increased by ten percent of the amount improperly used. Defines a "malpractice liability trust" as any trust: (1) which is established in writing by the taxpayer under the laws of any State; (2) the trustee of which is a bank or a competent individual; (3) the exclusive purposes of which are to satisfy malpractice claims and to pay the administrative cost of operating a trust; and (4) the assets of which will not be commingled with any other property and may not be borrowed or used as security for a loan. Limits investment of trust assets to: (1) public debt securities of the United States; (2) State or local obligations which are not in default; or (3) time or demand deposits in certain financial institutions. Treats product liability loss reserves as amounts accumulated for the reasonably anticipated needs of a business, for purposes of the accumulated earnings tax.
Bill· SS. 940 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to repeal the requirement that officers of an organization which sponsored a business convention in a foreign country for which a taxpayer is claiming an income tax deduction with respect to expenses incurred in attending such convention submit a written statement verifying the schedule of business activities conducted at the convention and the attendance of the taxpayer at such activities.
Bill· SS. 935 (96th)referred
United States · United States Congress · 10 April 1979
Capital Cost Recovery Act of 1979 - Amends the Internal Revenue Code to: (1) permit the depreciation of tangible personal property which is eligible for the investment tax credit over a period of not less than five years; (2) reduce from 60 to 24 months the period for amortization of pollution control facilities; and (3) repeal the treatment of the amortization of pollution control facilities as an item of tax preference, for purposes of the minimum tax.
Bill· SS. 942 (96th)referred
United States · United States Congress · 10 April 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. 3642 (96th)passed
United States · United States Congress · 10 April 1979
Amends title VII of the Public Health Service Act (Health Research and Teaching Facilities and Training of Professional Health Personnel) to extend through fiscal year 1982 the current authorization for grants for training in emergency medical services. Amends title XII of such Act (Emergency Medical Services Systems) to extend through fiscal year 1982 the authorization of appropriations (at reduced levels) for assistance for emergency medical services systems. Limits the number of grants or contracts which a system may receive and the use of such assistance for the acquisition of equipment or facilities acquired with previous assistance. Extends through fiscal year 1982 the current authorization for grants for burn injury programs. Authorizes the Secretary of Health, Education, and Welfare to provide financial assistance to public and nonprofit entities to establish and maintain poison control information and treatment centers.
Bill· HRH.R. 3633 (96th)passed
United States · United States Congress · 10 April 1979
Title I: Nurse Training - Nurse Training Amendments of 1979 - Amends title VIII of the Public Health Service Act to extend the assistance program for nurse training and students, generally at reduced levels of authorization for fiscal year 1980. Establishes a new assistance program for training nurse anesthetists. Directs the Secretary of Health, Education, and Welfare to arrange for the conduct of a study, either with the National Academy of Sciences (if such body agrees) or with another public or nonprofit private entity (if the Academy declines), to determine the need to continue a specific Federal assistance program for nursing education, taking into account specified factors, and to report the results of such study to Congress. Title II: Other Health Professions Programs - Amends title VII of the Public Health Service Act (Health Research and Teaching Facilities and Training of Professional Health Personnel) to authorize the Secretary of Health, Education, and Welfare to increase the ceiling on federally insured loans in any academic year to a medical student in a school of medicine, osteopathy, or dentistry from $10,000 to $15,000 upon a determination that educational costs require such increase. Increases the aggregate insured unpaid principal amount for all such insured loans made to any such borrower from $50,000 to $60,000. Authorizes the Secretary to defer the date used with respect to service requirements for National Health Service Corps scholarships for students of medicine, osteopathy, or dentistry for a period longer than the current three-year limit for such deferment. Exempts a medical or osteopathic school participating in an area health education center program from the requirement that such school conduct a program for training physician assistants or nurse practitioners which emphasizes enrolling individuals from the area served by the center of the program, if another school participating in the same program meets such requirement. Increases from $5,000,000 to $10,000,000 the sums which may be obligated for schools of medicine and other types of health care which are financially distressed or unaccredited, from the total authorizations for start-up assistance, financial distress training, and curriculum development of medical schools. Title III: Public Health Service Administration - Public Health Service Administrative Amendments of l979 - Amends title II of the Public Health Service Act (Administration) to revise the administration of the Public Health Service. Permits warrant officers to be appointed to the Public Health Service. Establishes two additional positions of Assistant Surgeon General (the Chief Nurse Officer of the Service and the Chief Pharmacist Officer of the Service). Revises the severance requirements with respect to the promotion of officers of the Regular Corps. Authorizes the Surgeon General to detail service personnel to congressional committees. Makes certain revisions with respect to the reimbursement of the Service by an officer who voluntarily leaves the Service after receiving educational assistance. Allows commissioned officers of the Service additional benefits which are provided for commissioned officers of the Army. Entitles a commissioned officer of the Reserve Corps who is released from active duty for specified reasons to a severance payment. Increases the pay grade of the Surgeon General from 0-8 to 0-9. Allows service credit for certain commissioned officers of the service who attain educational degrees before entry or reentry into active service. Authorizes: (1) advance pay to be made to members of the Public Health Service; and (2) a uniform allowance to certain commissioned officers of the Service.
Law· HRH.R. 3577 (96th)open
United States · United States Congress · 10 April 1979
Amends the National Advisory Committee on Oceans and Atmosphere Act of 1977 to authorize appropriations for fiscal years 1980 and 1981.
Bill· HRH.R. 3625 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to impose a 100 percent excise tax on investments made by energy corporations which are unrelated to energy. Denies the foreign income tax credit for taxes which are attributable to foreign oil and gas extraction income.
Bill· HRH.R. 3620 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to exempt seafood processing workers from social security taxes, unemployment taxes, and the withholding of taxes.
Bill· HRH.R. 3613 (96th)referred
United States · United States Congress · 10 April 1979
States that the total funds which the executive branch may obligate for the travel and transportation expenses of its officers and employees during fiscal year 1980 shall not exceed an amount which is $500,000,000 less than the amount proposed therefore in the Budget of the United States for such fiscal year.
Bill· HRH.R. 3609 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to tax income of married individuals filing tax returns separate from their spouses at the same rates applicable to unmarried individuals.
Bill· HRH.R. 3605 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to allow individuals or married couples a $7,500 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.
Bill· HRH.R. 3601 (96th)referred
United States · United States Congress · 10 April 1979
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require the Secretary of Health, Education, and Welfare to annually inform individuals covered by the OASDI program of their contributions and potential benefit rights, as based on their current wage records.
Bill· HRH.R. 3597 (96th)referred
United States · United States Congress · 10 April 1979
Prohibits the Secretary of the Treasury from implementing the proposed revenue procedure published in the Federal Register on February 13, 1979, which sets forth guidelines for determining whether private schools have forfeited their tax-exempt status through the adoption of racially discriminatory policies until Congress enacts specific guidelines for making such determinations.
Bill· HRH.R. 3619 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to increase from $1,000,000 to $10,000,000 the dollar limit for bond issues qualifying as small issues, for purposes of the exclusion from gross income of the interest on such bonds.
Bill· HRH.R. 3576 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to suspend the imposition of interest charges on a taxpayer due to a tax deficiency to the extent that such deficiency is attributable: (1) to the preparation of the taxpayer's return by an Internal Revenue Service employee; or (2) to advice or information rendered by such employee acting in his official capacity. Requires the Secretary of the Treasury, upon the request of a taxpayer, to furnish a written memorandum to such taxpayer providing information, advice, or interpretation with respect to the income tax. Provides that such memorandum shall not be binding upon the Secretary.
Bill· HRH.R. 3572 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to allow taxpayers an income tax credit for all ordinary and necessary expenses which such taxpayers incur in connection with an audit or a final judicial determination of their tax liability, if such audit or determination establishes that there is no tax deficiency. Disallows an income tax deduction for any audit expenses for which a credit is claimed under the provisions of this Act.
Bill· HRH.R. 3561 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to permit the waiver of residency requirements for individuals residing in a foreign country who claim income tax deductions for living expenses incurred in such country, if such individuals are prevented from conducting normal business in such country due to war, civil unrest, or similar adverse conditions, and such individuals prove to the satisfaction of the Secretary of the Treasury that they would have met such residency requirements under normal conditions.
Bill· HRH.R. 3586 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to raise the age requirement for youths participating in the qualified cooperative education program from 16-19 to 16-20, for purposes of the targeted jobs tax credit.
Bill· HRH.R. 3562 (96th)referred
United States · United States Congress · 10 April 1979
Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings.
Resolution· HRESH.Res. 221 (96th)passed
United States · United States Congress · 10 April 1979
Directs the printing, for the use of the House Committee on the Budget, of 1,000 additional copies of the House Report entitled, "First Concurrent Resolution on the Budget - Fiscal Year 1980."
Resolution· HRESH.Res. 223 (96th)referred
United States · United States Congress · 10 April 1979
Amends rule XVIII of the Rules of the House of Representatives to limit the use of suspension of the rules to bills or resolutions with an estimated net cost of $50,000,000 or less for any fiscal year.
Law· SS. 917 (96th)open
United States · United States Congress · 9 April 1979
Amends the Fishermen's Protective Act of 1967 to direct the Secretary of Commerce or the Interior to monitor and investigate the activities of foreign nations that may affect any international fisheries conservation program and to promptly reach a decision with respect to any such investigation.
Bill· HRH.R. 3521 (96th)referred
United States · United States Congress · 9 April 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· HRH.R. 3523 (96th)referred
United States · United States Congress · 9 April 1979
Amends the Internal Revenue Code to allow an income tax deduction for cash contributions made by an eligible employee to certain retirement savings and pension plans. Limits the amount of such deduction to the lesser of ten percent of the employee's gross compensation or $1,000. Defines "eligible employee" as an employee who is an active participant for any part of the taxable year in a tax-exempt pension or profit-sharing plan, an annuity plan, or a qualified bond purchase plan.
Bill· HRH.R. 3534 (96th)referred
United States · United States Congress · 9 April 1979
Amends the Internal Revenue Code to allow an additional income tax credit for political contributions to candidates for Congress in the district in which the taxpayer lives. Limits the amount of such credit to $10 ($20 for joint returns) for each candidate to whom a contribution is made.
Bill· HRH.R. 3518 (96th)referred
United States · United States Congress · 9 April 1979
Amends the Internal Revenue Code to allow an income tax deduction for all reasonable and necessary expenses paid or incurred by the taxpayer for the connection of a sewer line from the taxpayer's principal residence to a public sewage system when such connection is required by State or local law.
Resolution· HRESH.Res. 217 (96th)passed
United States · United States Congress · 9 April 1979
Sets forth the rule for the consideration of H.R. 3363 (Funding of the Department of State, the International Communications Agency, and the Board for International Broadcasting).
Bill· SS. 897 (96th)referred
United States · United States Congress · 5 April 1979
Amends the Internal Revenue Code to require the abatement of the full amount of any tax deficiency (including interest or penalties) which is attributable to written erroneous advice provided by an officer or employee of the Internal Revenue Service acting in his official capacity, unless the deficiency resulted from a failure by the taxpayer to provide information or a willful misrepresentation by the taxpayer. Requires IRS personnel who give tax advice to a taxpayer to make a written notation of the name and address of the taxpayer, the nature of the request, and the advice given, in cases in which more than $100 of tax liability is involved.
Bill· SS. 903 (96th)passed
United States · United States Congress · 5 April 1979
Amends the National Housing Act to extend until September 30, 1982, the authority of the Secretary of Housing and Urban Development under the national insurance development program. Authorizes the Secretary to continue certain reinsurance and direct insurance until September 30, 1985. Extends until September 30, 1983, the deadline for the Secretary to submit to Congress a plan for the liquidation and termination of the reinsurance and direct insurance programs. Amends the National Flood Insurance Act of 1968 to extend until September 30, 1982, the flood insurance program. Extends through fiscal year 1981, the authorization of appropriations for flood studies under such Act.
Bill· SS. 908 (96th)referred
United States · United States Congress · 5 April 1979
Social Security Fair Reporting Act of 1979 - Amends title II (Old-Age, Survivors and Disability Insurance) of the Social Security Act to require the Secretary of Health, Education, and Welfare to annually certify in a clear and understandable form to each individual whose income is subject to social security taxes the following: (1) the total wages for which the individual has been credited and the portions of such total paid by the employer; (2) the total social security taxes imposed and collected from such individual; (3) the amounts paid into, the amounts paid out of, and the amount of the surplus or deficit in, the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund for the latest fiscal year for which that information is available, and the projected surplus or deficit in such Trust Funds for the next ensuing two fiscal years; (4) the number of quarters of coverage credited to such individual, whether such individual is fully insured, and whether such individual is insured for survivor insurance benefits and for disability insurance benefits; and (5) a telephone number and address to which questions regarding the account of the individual can be directed. Directs the Secretary to report to Congress concerning the implementation of this Act.
Bill· SS. 895 (96th)referred
United States · United States Congress · 5 April 1979
Amends the Internal Revenue Code to increase the tax exclusion for dividends to $250.
Bill· SS. 906 (96th)referred
United States · United States Congress · 5 April 1979
Alcohol Fuels Production Incentive Act of 1979 - Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for investment in equipment used in the production of fuels mixed with alcohol. Allows a five percent investment tax credit for investment in buildings used in gasohol production. Establishes the Federal Alcohol Fuel Production Loan Guarantee Fund to guarantee loans to build or refinance alcohol-fuel production plants and equipment. Permits the guarantee of up to 50 percent of the principal of such loans. Limits the amount of any loan to a single borrower to $10,000,000. Prohibits the total amount of loan guarantees from exceeding $250,000,000. Amends the Emergency Petroleum Allocation Act of 1973 to grant priority for the receipt of petroleum allocations in times of shortages to refineries engaged in the production of gasoline or special fuels which are to be mixed with alcohol and those who sell such fuels.
Bill· SS. 890 (96th)referred
United States · United States Congress · 5 April 1979
Excess Petroleum Profits Tax Act of 1979 - Amends the Internal Revenue Code to impose an excess profits tax on petroleum corporations equal to 90 percent of the amount by which the taxable income of such corporations exceeds the surcharge exemption for the taxable year. Defines the "surcharge exemption" as the percentage rate of return on the capital investment of a petroleum corporation equal to the average rate of return on capital investment for all manufacturing corporations for the taxable year. Exempts from the tax: (1) petroleum corporations which have an invested capital structure of less than $2,500,000; and (2) corporate income which is set aside in a fund for purposes of investment in petroleum research and development. Permits a deduction from corporate income, for purposes of computing the tax imposed by this Act, for investments in: (1) exploration or development of new domestic fuel; (2) increased domestic productive capacity; and (3) research and development of new domestic energy sources and of energy technology. Allows an investment tax credit for investment in facilities for research and development of new domestic energy sources and for facilities to increase the domestic energy supply.
Bill· SJRESS.J.Res. 56 (96th)referred
United States · United States Congress · 5 April 1979
Constitutional Amendment - Limits the increase of total budget outlays of the United States Government during any fiscal year to a percentage equal to the percentage increase in the gross national product during the previous calendar year. Stipulates that if the inflation rate exceeds three percent annually the increase in total outlays shall be reduced by one-fourth the difference between the inflation rate and three percent. Requires any surplus in total revenues received by the Government to be used to reduce the public debt. Allows the limit on total outlays to be changed by a three-quarters vote of both Houses of Congress, or to meet an emergency declared by the President. Continues Federal aid programs to States and local governments for a period of six years. Prohibits Congress from authorizing any United States agency to require that a State or local government engage in additional or expanded activities without compensation equal to the additional costs.
Bill· HRH.R. 3502 (96th)passed
United States · United States Congress · 5 April 1979
Amends the Hazardous Materials Transportation Act to authorize appropriations to carry out the provisions of such Act for fiscal years 1980 and 1981.
Bill· HRH.R. 3509 (96th)passed
United States · United States Congress · 5 April 1979
Amends the Safe Drinking Water Act to extend the authorizations for appropriations under such Act through fiscal year 1982.
Bill· HRH.R. 3493 (96th)referred
United States · United States Congress · 5 April 1979
Amends the Internal Revenue Code to provide an additional $1,000 personal tax exemption for a taxpayer, his spouse, or a dependent who is disabled. Defines "disability" as an inability to engage in any substantial gainful activity due to a physical or mental impairment which has lasted or will last continuously for at least 12 months. Disallows the additional exemption if the taxpayer or his spouse already receives an extra exemption due to blindness.
Bill· HRH.R. 3481 (96th)referred
United States · United States Congress · 5 April 1979
Amends the Internal Revenue Code to allow residential and institutional (hospitals, churches, or educational institutions) users of refined petroleum products a refundable income tax credit for the increase in price of such products due to deregulation of the oil industry. Directs the Secretary of the Treasury to determine the deregulation amount for petroleum products for each calendar quarter beginning after the effective date of oil deregulation. Limits the amount of such credit to $125 for a taxable year. Reduces the amount of such credit by .75 percent of the amount by which the taxpayer's adjusted gross income exceeds $25,000. Provides for advance payments of the deregulation credit on a quarterly basis upon the application of a taxpayer entitled to such credit.
Bill· HRH.R. 3499 (96th)referred
United States · United States Congress · 5 April 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. Specifies a graduated schedule of tax rates for windfall profits on each barrel of oil removed from the premises. Provides for a gradual phaseout of the windfall profits tax over a period of four years. Allows a nonrefundable tax credit against the windfall profits tax for: (1) intangible drilling and development costs; (2) geological and geophysical costs; (3) the construction of facilities for the exploration and refining of oil or gas; (4) secondary or tertiary recovery of oil or gas; or (5) the acquisition of oil and gas leases. Defines "windfall profit" as the excess of the removal price (amount for which the barrel of oil is sold) over the pre-decontrol ceiling price. Provides that the windfall profit on any barrel of crude oil shall not exceed 75 percent of 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 fifteenth day of the third 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 pre-decontrol ceiling price of such oil; (4) the amount of taxpayer's liability for tax; and (5) other information which the Secretary may require. 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; (3) the total amount of plowback investment made by such partnership, trust, or estate during such taxable period; (4) each partner's or beneficiary's share from the sale of crude oil; and (5) other information which the Secretary may require.
Bill· HRH.R. 3477 (96th)referred
United States · United States Congress · 5 April 1979
Amends the Internal Revenue Code to impose on the income of oil producing corporations a tax equal to 25 percent of the excess profits taxable income of such corporations during the three taxable years from the enactment date of this Act (emergency period). Provides for adjustments to corporate income for years in the emergency period for dividends, capital gains and losses, bond retirement or discharge income, or recovery of bad debts. Defines "excess profits taxable income" as taxable income reduced by the sum of the excess profits deduction and the energy plowback deduction for the taxable year. Specifies allowable amounts for the excess profits deduction. Permits energy plowback deductions for intangible drilling and development cost, construction or acquisition of depreciable assets used for oil exploration and refining, or secondary or tertiary recovery of oil or gas. Limits the amount of such deduction to 25 percent of the excess profits taxable income for the taxable year.
Bill· HRH.R. 3478 (96th)referred
United States · United States Congress · 5 April 1979
Oil Deregulation Tax Act of 1979 - Amends the Internal Revenue Code to impose upon producers of domestic crude oil an excise tax on price increases resulting from deregulation. Sets the rate of such tax at 25 percent of the price increase on each barrel of taxable crude oil. Exempts oil producers whose production does not exceed 1,200 barrels multiplied by the number of days in a taxable period from the tax. Allows oil producers a nonrefundable credit against the deregulation tax for: (1) intangible drilling and development costs; (2) geological and geophysical costs; (3) expenditures for oil exploration and production equipment; and (4) secondary or tertiary recovery of oil or gas. Provides for a carryover of credit amounts which exceed the amount of deregulation tax in any taxable period. Requires oil producers to maintain such records with respect to oil production as the Secretary of the Treasury may require. Specifies that deregulation tax returns must be filed not later than the fifteenth day of the third 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 deregulation 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 pre-decontrol ceiling price of such oil; (4) the amount of the producer's deregulation tax liability; 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; (3) the total amount of energy investment made by such partnership, trust, or estate during a taxable period; (4) each partner's or beneficiary's share from the sale of crude oil; and (5) other information which the Secretary may require.
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