Taxation

PRESIDENT'S FISCAL YEAR 2017 BUDGET

United States · United States Senate · 10 February 2016

To amend title 10, United States Code, to provide a five-year extension of the special survivor indemnity allowance provided to widows and widowers of deceased members of the uniformed services affected by required Survivor Benefit Plan annuity offset for dependency and indemnity compensation received under section 1311(a) of title 38, United States Code.

United States · United States Congress · 10 February 2016

This bill extends through FY2022 (at increasing monthly amounts for each fiscal year) the special survivor indemnity allowance for a surviving or former spouse of a deceased member of the Armed Forces whose annuity under the survivor benefit program is offset by the amount of dependency and indemnity compensation received from the Department of Veterans Affairs.

Child CARE Act

United States · United States Congress · 10 February 2016

Child Care Access to Resources for Early-learning Act or the Child CARE Act This bill amends title IV part A (Temporary Assistance for Needy Families) (TANF) of the Social Security Act to make appropriations for FY2017-FY2021 to the Department of Health and Human Services for allotments to states to: expand access to high-quality child care for infants and toddlers from low-income families who do not receive child care funded through the Child Care and Development (CCD) Fund, and increase the quality of such care for infants and toddlers who do receive child care funded through the CCD Fund. The state shall reserve at least 80% of funds for direct services provided through grants, contracts, or certificates, to expand access to high-quality child care for infants and toddlers and to increase parental options for and access to such care. The state shall use the cost of a mandatory triennial high-quality child care study to ensure that for all infant and toddler child care slots: (1) the child care is of sufficient quality, (2) the care providers are supported along a career pathway to achieve higher levels of training and education, and (3) the provider rates are sufficient. The state shall also ensure that all infant and toddler child care providers participating in CCD Fund-supported activities meet certain quality standards by the end of FY2026. The state shall: (1) identify underserved geographic areas and special populations; and (2) develop and implement a plan to increase the availability of high-quality child care in such areas and populations, especially those which are hard-to-serve. The state shall reserve certain funds to carry out specified activities to increase the quality of child care programs for infants and toddlers in eligible families. An Indian tribe or tribal organization that receives a grant through an allotment for Indian and Native Hawaiian Child Care shall use the grant funds to provide, by the end of FY2026, access to high-quality, culturally and linguistically appropriate child care for infants and toddlers for eligible families in the tribal community. The Internal Revenue Code is amended to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after February 10, 2016, shall be treated as an inverted corporation and so subject to U.S. taxation if, after such acquisition, it holds more than 50% of the stock of the new entity (expanded affiliated group).

Small Aircraft Tax Modification Act of 2016

United States · United States Congress · 10 February 2016

Small Aircraft Tax Modification Act of 2016 This bill amends the Internal Revenue Code to expand eligibility for the exemption from the excise tax on the transportation of persons and property by air by: (1) increasing the limit on the maximum certified takeoff weight of eligible aircraft not operated on an established line from 6,000 pounds or less to 12,500 pounds or less; and (2) providing that an aircraft shall not be considered as operated on an established line if it is performing an on-demand operation, as defined by regulation.

Create Jobs Act

United States · United States Congress · 10 February 2016

Corporate Rate Equality and Trade Empowerment Jobs Act of 2016 or the Create Jobs Act This bill amends the Internal Revenue Code to lower the rate of tax on the taxable income of corporations to the greater of: (1) 10%, or (2) the rate that is 5% below the average corporate income tax rate for Organization for Economic Co-operation and Development countries other than the United States. The bill also sets forth a procedure for a congressional joint resolution approving an increase in the corporate tax rate.

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2017 AND THE FUTURE YEARS DEFENSE PROGRAM

United States · United States Senate · 9 February 2016

Empowering Patients First Act of 2015

United States · United States Congress · 9 February 2016

Empowering Patients First Act of 2015 This bill repeals the Patient Protection and Affordable Care Act and the health care provisions of the Health Care and Education and Reconciliation Act of 2010, effective as of their enactment. This bill replaces those provisions with amendments to the Internal Revenue Code, the Public Health Service Act, and the Employee Retirement Income Security Act of 1974 (ERISA) to address health care coverage. The bill provides for refundable tax credits for health insurance coverage and health savings account (HSA) contributions. The bill raises the annual HSA contribution limit, expands eligibility for tax-deductible HSA contributions, and allows HSAs to be used to pay periodic or capitated primary care fees. A limit is placed on the amount of an employer's contribution to health coverage that can be excluded from the employee's taxable income. The Department of Health and Human Services (HHS) must provide a grant to each state for high-risk pools or reinsurance pools to subsidize health insurance for high-risk populations and individuals. Funds authorized, tax credits, and tax deductions under this Act may not be used to pay for an abortion or health coverage that includes abortion, with exceptions. This bill provides for the establishment and governance of independent health pools, entities that form risk pools to offer health insurance coverage to their members. Small Business Health Fairness Act of 2015 This bill provides for the establishment and governance of association health plans, which are group health plans sponsored by business associations that meet certain ERISA certification requirements. Health insurers offering individual coverage may deny coverage to an individual, outside of open enrollment periods. Preexisting conditions may be excluded from coverage under certain conditions. Individual health insurance coverage is governed by the laws of a state designated by the health insurance issuer. HHS must issue clinical practice guidelines. The bill specifies how these guidelines may be used in a health care lawsuit. HHS may not use comparative effectiveness research or patient-centered outcomes research to deny coverage of an item or service under a federal health care program. This bill amends title XVIII (Medicare) of the Social Security Act to permit Medicare beneficiaries to contract with a physician or practitioner for covered health care and submit a claim for payment under Medicare. Health care professionals are exempted from federal and state antitrust laws in connection with negotiations with a health plan to provide health care items or services.

Expressing the sense of Congress opposing the President's proposed $10 tax on every barrel of oil.

United States · United States Congress · 9 February 2016

Opposes a new tax on oil. Urges Congress, when considering a tax policy change, to review the detrimental impacts such change would place on industries facing economic difficulties.

Fair Wage Act

United States · United States Congress · 9 February 2016

Fair Wage Act This bill amends the Fair Labor Standards Act of 1938 to increase the federal minimum wage for employees to: $8.00 an hour 30 days after this Act's enactment date or January 1, 2017, whichever date is earlier; $9.00 an hour, one year after the date the $8.00 an hour wage takes effect; $10.00 an hour, after two years; $11.00 an hour, after three years; $12.00 an hour, after four years; $13.00 an hour, after five years; $14.00 an hour, after six years; $15.00 an hour, after seven years; and the amount determined by the Department of Labor (based on increases in the Consumer Price Index) eight years after such date and annually thereafter. The bill directs Labor, 60 days before any increase in the minimum wage, to publish it in the Federal Register and on Labor's website. The bill amends the Internal Revenue Code to allow an employer who pays at least $1 more per hour than the federal minimum wage, but not more than $15 per hour, a credit against the employment tax equal to 6.2% of wages paid by such employer during the calendar year.

Providing for consideration of the bill (H.R. 3442) to provide further means of accountability of the United States debt and promote fiscal responsibility, and providing for consideration of the bill (H.R. 3293) to provide for greater accountability in Federal funding for scientific research, to promote the progress of science in the United States that serves that national interest.

United States · United States Congress · 9 February 2016

Sets forth the rule for consideration of the bill (H.R. 3442) to provide further means of accountability of the United States debt and promote fiscal responsibility, and providing for consideration of the bill (H.R. 3293) to provide for greater accountability in Federal funding for scientific research, to promote the progress of science in the United States that serves that national interest.

Public Buildings Reform and Savings Act of 2016

United States · United States Congress · 8 February 2016

Public Buildings Reform and Savings Act of 2016 This bill: (1) directs the General Services Administration (GSA) to establish and conduct a pilot program through 2021 to execute lease agreements using alternative procedures to reduce costs of leased space and significantly reduce or eliminate the backlog of expiring leases over the next five years, and (2) authorizes the GSA to submit consolidated prospectuses for leases and projects to Congress for approval. The bill requires approval by congressional resolution of any costs and expenses associated with administering an acquisition by exchange involving real property or in-kind consideration, including services, with a fair market value of $2.85 million or more. The bill authorizes: (1) the Department of Homeland Security (DHS) to authorize contract security personnel to carry firearms, and (2) such personnel to detain individuals without a warrant. DHS must establish minimum and uniform training standards for security personnel. DHS must report on: (1) the personnel needs of the Federal Protective Service (FPS), including recommendations on the numbers of FPS law enforcement officers needed to carry out the mission of FPS during the 10-year period after the enactment of this Act; and (2) the best method of funding for the FPS. The GSA must: (1) justify any need for new or replacement building space, including an explanation of why such space could not be consolidated or colocated into other owned or leased space; (2) notify the House Committee on Transportation and Infrastructure and the Senate Committee on Environment and Public Works if the cost, scope, or size of any project changes by 5% or more; and (3) report to such committees on the justification for using three lease rental caps per fiscal year and their impacts in the National Capital Region. The bill directs the GSA to: (1) sell a portion of the Forrestal Complex in Washington, D.C. to generate funds necessary to construct a new Department of Energy headquarters on government-owned land in a manner consistent with the SW Ecodistrict Plan of the National Capital Planning Commission if the GSA determines that such headquarters can be constructed with no net costs to the government; and (2) consider the direct purchase of energy and other utilities in bulk or otherwise for leased facilities when cost-effective.  The bill exempts an individual acquisition for commercial leasing services from enhanced competition requirements for the purchase of property and services by executive agencies if such individual acquisition is made on a no cost basis and pursuant to a multiple award contract in accordance with requirements for full and open competition. The Government Accountability Office must conduct biennial audits of the GSA National Broker Contract, conduct a review of the application of enhanced competition requirements, and report on such audits and reviews. The bill amends the Economic Development Administration Reform Act of 1965 to authorize the Department of Commerce to release the federal government's interest in economic adjustment grants not less than seven years after the final disbursement of the grant.

Renters Fairness and Equality Act

United States · United States Congress · 8 February 2016

Renters Fairness and Equality Act This bill amends the Internal Revenue Code to allow a tax deduction of all rent paid paid or accrued on the principal residence of a taxpayer, but denies such deduction if the assessed or appraised value of the residence exceeds $1 million.

MyRA Act

United States · United States Congress · 8 February 2016

Making Your Retirement Accessible Act or the MyRA Act This bill amends the Internal Revenue Code to establish an employee retirement option known as a MyRA account. A MyRA account functions as a Roth Individual Retirement Account. An employee who elects to establish a MyRA account may contribute any portion of a tax refund or make automatic payroll contributions to the account. The funding of MyRA accounts is limited to retirement savings bonds issued by the Department of the Treasury with a specified interest rate and maturity date. The bill imposes a tax on any employer who fails to comply with the requirement for making direct deposits to a MyRA account of wages designated by an employee.

Health Savings Act of 2016

United States · United States Congress · 4 February 2016

Health Savings Act of 2016 This bill amends the Internal Revenue Code, with respect to the taxation of health savings accounts (HSAs), to: rename high deductible health plans as HSA-qualified health plans; allow spouses who have both attained age 55 to make increased catch-up contributions to the same HSA; make Medicare Part A (hospital insurance benefits) beneficiaries eligible to participate in an HSA; allow individuals eligible for hospital care or medical services under a medical care program of the Indian Health Service or of a tribal organization to participate in an HSA; allow individuals eligible to receive medical benefits under certain TRICARE plans to participate in an HSA; allow members of a health care sharing ministry to participate in an HSA; allow individuals who receive primary care services in exchange for a fixed periodic fee or payment, or who receive health care benefits from an onsite medical clinic of an employer, to participate in an HSA; include amounts paid for prescriptions and over-the-counter medicines or drugs as "qualified medical expenses" for which distributions from an HSA or an Archer Medical Savings Account may be used; and allow HSA distributions to be used to purchase health insurance coverage. The bill amends the federal bankruptcy code to exempt HSAs from creditor claims in bankruptcy. The bill amends the Social Security Act to reauthorize the use of Medicaid health opportunity accounts. The bill allows a medical care tax deduction for: (1) exercise equipment, physical fitness programs, and membership at a fitness facility; (2) nutritional and dietary supplements; and (3) periodic fees paid to a primary care physician and amounts paid for pre-paid primary care services.

Water Infrastructure Trust Fund Act of 2016

United States · United States Congress · 4 February 2016

Water Infrastructure Trust Fund Act of 2016 This bill amends the Internal Revenue Code to establish in the Treasury a Water Infrastructure Investment Trust Fund and appropriates to it amounts equivalent to the fees received in the Treasury before January 1, 2022, under this Act. The bill requires 85% of amounts in the Fund to be available to the Environmental Protection Agency (EPA) for capitalization grants under the Federal Water Pollution Control Act (commonly known as the Clean Water Act or CWA) and 15% to be available for capitalization grants under the Safe Drinking Water Act. Amounts in the Fund may not be made available for a fiscal year unless the amount of funds appropriated to the Clean Water State Revolving Fund through annual capitalization grants is not less than the average of the annual amounts provided in capitalization grants under the CWA for the immediately preceding five-fiscal-year period. The Department of the Treasury shall: (1) implement a program under which it provides a label suitable for placement on products (for a fee of three cents per unit) to inform consumers that the manufacturer, producer, or importer of the product and other stakeholders participate in the Fund and are contributing to America's clean water; and (2) deposit amounts received in the Treasury. The EPA, with participation by the states, shall conduct a study to: (1) assess the affordability gap faced by low-income populations located in urban and rural areas in obtaining services from clean water and drinking water systems; and (2) analyze options for programs to provide incentives for rate adjustments at the local level to achieve full cost or true value pricing for such services, while protecting low-income ratepayers from undue burden.

SAVERS Act of 2016

United States · United States Congress · 4 February 2016

Strengthening Access to Valuable Education and Retirement Support Act of 2016 or the SAVERS Act of 2016 This bill amends the Internal Revenue Code to exempt from the tax on prohibited transactions: (1) the provision of investment advice by a fiduciary to a pension plan, plan participant, or beneficiary which is a best interest recommendation; and (2) any transaction, including a contract for service, between an investment provider and the advice recipient if no more than reasonable compensation is paid for such investment advice and certain disclosures are made with respect to the cost of such advice. For purposes of this bill, "investment advice" is a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment that the person is a fiduciary with respect to the provision of the recommendation; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill defines "best interest recommendation" as a recommendation: (1) for which no more than reasonable compensation is paid; (2) that is provided by a person acting with the care, skill, prudence, and diligence under the prevailing circumstances that a prudent person would exercise based on information obtained from an advice recipient; and (3) where the person giving such advice places the interests of the plan or advice recipient above the person's interests. A best interest recommendation may include a recommendation that is based on a limited range of investment options or may result in variable compensation to the person providing the recommendation. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under the Employee Retirement Income Security Act of 1974 (ERISA), the prohibited transaction provisions of the Internal Revenue Code, or other Labor regulations, and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act.

Small Aircraft Tax Modification Act of 2015

United States · United States Congress · 4 February 2016

Small Aircraft Tax Modification Act of 2015 [ sic ] This bill amends the Internal Revenue Code to expand eligibility for the exemption from the excise tax on the transportation of persons and property by air by: (1) increasing the limit on the maximum certified takeoff weight of eligible aircraft not operated on an established line from 6,000 pounds or less to 12,500 pounds or less; and (2) providing that an aircraft shall not be considered as operated on an established line if it is performing an on-demand operation, as defined by regulation.

Health Savings Act of 2016

United States · United States Congress · 4 February 2016

Health Savings Act of 2016 This bill amends the Internal Revenue Code, with respect to the taxation of health savings accounts (HSAs), to: rename high deductible health plans as HSA-qualified health plans; allow spouses who have both attained age 55 to make increased catch-up contributions to the same HSA; make Medicare Part A (hospital insurance benefits) beneficiaries eligible to participate in an HSA; allow individuals eligible for hospital care or medical services under a medical care program of the Indian Health Service or of a tribal organization to participate in an HSA; allow individuals eligible to receive medical benefits under certain TRICARE plans to participate in an HSA; allow members of a health care sharing ministry to participate in an HSA; allow individuals who receive primary care services in exchange for a fixed periodic fee or payment, or who receive health care benefits from an onsite medical clinic of an employer, to participate in an HSA; include amounts paid for prescriptions and over-the-counter medicines or drugs as "qualified medical expenses" for which distributions from an HSA or an Archer Medical Savings Account may be used; and allow HSA distributions to be used to purchase health insurance coverage. The bill amends the federal bankruptcy code to exempt HSAs from creditor claims in bankruptcy. The bill amends the Social Security Act to reauthorize the use of Medicaid health opportunity accounts. The bill allows a medical care tax deduction for: (1) exercise equipment, physical fitness programs, and membership at a fitness facility; (2) nutritional and dietary supplements; and (3) periodic fees paid to a primary care physician and amounts paid for pre-paid primary care services.

Do Your Job Act

United States · United States Congress · 4 February 2016

Do Your Job Act This bill withholds the salaries of Members of a chamber of Congress if the chamber has not considered and voted on final passage of each regular appropriations bill before the beginning of the fiscal year. The salaries are withheld until the earlier of the: (1) the date on which the chamber has considered and held votes on final passage of each of the bills, or (2) the last day of the Congress. In the House of Representatives, consideration of the bills must include permitting Members to offer amendments.

Fiscal Responsibility Act of 2016

United States · United States Congress · 4 February 2016

Fiscal Responsibility Act of 2016 This bill declares that, if there is a federal budget deficit in a fiscal year, then: any pay adjustment for Members of Congress scheduled to take effect under the Legislative Reorganization Act of 1946 in the succeeding calendar year shall be null and void; and effective as of the first day of the first pay period beginning in that year, the rates of basic pay for Members shall be reduced (from the rate in effect), but not below zero, by an amount prescribed according to the following formula. The reduction required under this Act is as follows: if the reduction is to take effect in a calendar year that does not immediately follow another calendar year in which a reduction was made, the reduced amount shall be equal to 5% of the rate of basic pay last in effect before the reduction is made; or if the reduction is to take effect in a calendar year that immediately follows another calendar year in which a reduction was made, the reduced amount shall be equal to 10% of the rate of basic pay last in effect before the most recent reduction was made. If, following one or more years in which Members' pay is reduced, a fiscal year occurs in which there is no deficit, then, effective as of the first day of the first pay period in the succeeding calendar year: rates of basic pay for Members shall be restored to the highest rate at any time previously payable; and pay adjustments scheduled to take effect on or after that first day shall be effective.

Fairness for Agricultural Machinery and Equipment Act

United States · United States Congress · 4 February 2016

Fairness for Agricultural Machinery and Equipment Act This bill amends the Internal Revenue Code to eliminate the placed-in-service restriction on the depreciation of certain farming business machinery and equipment and to make permanent the five-year recovery period for such property.

CONCURRENT RESOLUTION ON THE BUDGET FISCAL YEAR 2017

United States · United States Senate · 3 February 2016

Encouraging Americans to Save Act

United States · United States Congress · 3 February 2016

Encouraging Americans to Save Act This bill amends the Internal Revenue Code to expand the tax credit for retirement savings contributions to: (1) make such credit refundable; (2) allow individual taxpayers (excluding dependents and full-time students) who have attained age 18 as of the close of the taxable year a credit for 50% of their retirement savings contributions up to $1,000; (3) increase the maximum income threshold for determining eligibility for the credit; and (4) allow direct deposit of credit amounts into the taxpayer's retirement savings vehicle (e.g., MyRA or Roth IRA account). The Department of the Treasury shall educate taxpayers on the benefits of the credit for retirement savings contributions.

Electronic Warfare Capabilities Enhancement Act of 2016

United States · United States Congress · 3 February 2016

Electronic Warfare Capabilities Enhancement Act of 2016 This bill permits the use of appropriations authorized for electromagnetic spectrum warfare systems and electronic warfare in order to develop and field electromagnetic spectrum warfare systems and electronic warfare capabilities. The Bob Stump National Defense Authorization Act for Fiscal Year 2003 is amended to include electronic warfare programs in the rapid acquisition authority program. Electronic warfare is military action involving the use of electromagnetic and directed energy to control the electromagnetic spectrum or to attack the enemy, and includes electromagnetic spectrum warfare, which encompasses military communications and sensing operations that occur in the electromagnetic operational domain. The Department of Defense shall delegate to the senior electronic warfare executive the authority to review and validate all Joint Capabilities Integration and Development System documents for electronic warfare acquisition programs. The Electronic Warfare Executive Committee shall submit to the congressional defense committees a strategic plan with measurable and timely objectives to achieve its mission according to specified metrics.

Taxpayer Identity Theft Protection Act

United States · United States Congress · 3 February 2016

Taxpayer Identity Theft Protection Act This bill amends the Internal Revenue Code to require the Internal Revenue Service (IRS) to issue an identity protection personal identification number to an individual taxpayer, after the taxpayer's true identity has been established and verified, to prevent the misuse of the taxpayer's social security account number on fraudulent income tax returns. IRS must then publicize the availability of such identification numbers, including through electronic means.

SAVINGS Act

United States · United States Congress · 2 February 2016

Save Access to a Valuable Investment Needed to Generate Savings Act of 2016 or the SAVINGS Act This bill directs the Department of the Treasury to allow: (1) an individual taxpayer to use a portion or all of a tax refund to purchase U.S. savings bonds in paper form for the taxpayer or for any individual designated by the taxpayer; or (2) an option for a tax return that allows for the gifting of such bonds and that serves individuals who rarely, if ever, have held a bank account and individuals who lack access to the Internet.

Educational Freedom Accounts Act

United States · United States Congress · 2 February 2016

Educational Freedom Accounts Act This bill requires the District of Columbia to provide education savings accounts for children who are eligible to receive a free public education in the District, but whose parents choose not to enroll them in a public school or home schooling. To receive an account, a child must be either entering kindergarten or prekindergarten or have been enrolled in a public school in the District during the previous year. The Chief Financial Officer of the District must award a contract to a tax-exempt entity based in the District to administer the program. The District must fund the accounts with amounts that are adjusted based on the family's income and range from 80% to 90% of the funds that the District of Columbia Public School System would otherwise spend on the child. Upon the direction of a parent, the administering entity must distribute the funds for educational expenses, including: tuition at a nonpublic school or for distance education, tutoring, curricula or online courses, special education, individual courses or extracurricular activities at a public school within the District, dual credit courses that qualify for both secondary and postsecondary education credit, examinations, transportation to and from a provider, contributions to qualified tuition programs (529 plans) or Coverdell education savings accounts, or other educational expenses approved by the administering entity. At the end of the contract period, any remaining balances must be returned to the District.

DHS Acquisition Documentation Integrity Act of 2016

United States · United States Congress · 1 February 2016

DHS Acquisition Documentation Integrity Act of 2016 This bill amends the Homeland Security Act of 2002 to direct the Department of Homeland Security (DHS) to require the head of a relevant component or office to: maintain acquisition documentation that is complete, accurate, timely, and valid and that includes operational requirements that are validated consistent with DHS policy, a complete lifecycle cost estimate, verification of such estimate against independent cost estimates, a cost-benefit analysis, and a schedule; prepare cost estimates and schedules for major acquisition programs in a manner consistent with best practices as identified by the Government Accountability Office; and submit certain acquisition documentation to DHS to produce an annual comprehensive report on the status of DHS acquisitions for submission to Congress. DHS may waive such submission requirement for a fiscal year if the program: (1) has not entered the full rate production phase in the acquisition lifecycle, had a reasonable cost estimate established, and had a system configuration defined fully; or (2) does not meet the definition of capital asset, as defined by the Office of Management and Budget. DHS shall make available to Congress, at the same time the President's budget is submitted for a fiscal year, information on the requirements of this Act in the prior fiscal year, including the following information regarding each program for which DHS has waived the submission requirement: the grounds for granting a waiver for that program; the projected cost of that program; the proportion of a component's or office's annual acquisition budget attributed to that program; and information on the significance of the program with respect to the component's operations and execution of its mission. The bill defines a "major acquisition program" as one that is estimated to require total expenditures of at least $300 million.

American Savings Account Act of 2016

United States · United States Congress · 28 January 2016

American Savings Account Act of 2016 This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) to establish a new retirement option for all employees and self-employed individuals to be known as the American Savings Account Fund. This fund operates in a manner similar to the Thrift Savings Fund, which is available to federal employees. The bill establishes an American Savings Account Board of Directors to establish policies for fund investment and management. The Board shall select or establish a list of investment funds and options similar to those in the Thrift Savings Fund, among which participants may choose. The Board shall establish an American Savings Account Fund Advisory Council to advise the Board on matters relating to investment policies. The American Savings Account Fund is tax-exempt and contributions to, or distributions from, it are excludible from gross income.

401(Kids) Education Savings Account Modernization Act of 2016

United States · United States Congress · 28 January 2016

401(Kids) Education Savings Account Modernization Act of 201 6 This bill amends the Internal Revenue Code to: (1) limit the requirement for an income-based reduction in allowable contributions to a Coverdell education savings account to an individual who is the custodial parent of an account beneficiary (thus exempting non-custodians of the beneficiary from such reduction), (2) increase the annual contribution limit for such accounts, (3) allow the use of such an account to pay home school expenses, and (4) allow tax-free rollovers of amounts in a Coverdell education savings account to a Roth individual retirement account. The Department of Education shall establish a website (to be known as 401Kids.gov) to provide free information on tax-favored education savings accounts.

LEGISLATIVE BRANCH APPROPRIATIONS FOR FISCAL YEAR 2016

United States · United States Senate · 21 January 2016

Make Student Grants Truly Tax-Free Act

United States · United States Congress · 21 January 2016

Make Student Grants Truly Tax-Free Act This bill amends the Internal Revenue Code to expand the tax exclusion for scholarships to include amounts received: (1) through a scholarship or fellowship grant program administered by the Secretary of Education that is based on financial need, including a Federal Pell Grant; (2) as an Iraq and Afghanistan Service grant under the Higher Education Act of 1965; or (3) as a TEACH Grant under the Higher Education Act of 1965.

COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2017

United States · United States Senate · 20 January 2016

Employer Participation in Repayment Act of 2016

United States · United States Congress · 20 January 2016

Employer Participation in Repayment Act of 2016 This bill amends the Internal Revenue Code to extend the tax exclusion for employer-provided educational assistance to include payments of qualified education loans paid to either an employee or a lender.

Dynamic Repayment Act of 2016

United States · United States Congress · 20 January 2016

Dynamic Repayment Act of 2016 This bill amends the Higher Education Act of 1965 to replace several existing federal student loan programs with a single repayment plan that caps annual debt repayments based on income and forgives remaining balances after 20 or 30 years of payments. The bill terminates the authority of the Department of Education (ED) to make federal Direct Stafford Loans, Direct Unsubsidized Stafford Loans, and Direct PLUS loans, subject to exceptions for existing student borrowers, PLUS loans made to parents of undergraduates, and Direct Consolidation Loans. To replace the programs, the bill establishes the Income Dependent Education Assistance (IDEA) Loan Program and the IDEA Loan Repayment Program, which: limit annual repayments based on the borrower's income; forgive remaining balances after either 20 or 30 years of payments, depending on the amount of the loan; and prohibit the accrual of interest on loans for active duty service members. The bill amends the Social Security Act (SSAct) to require ED and the Department of Health and Human Services to exchange information necessary to use the National Directory of New Hires to assist in the collection of student loans. The bill amends the Internal Revenue Code to: (1) require the Department of the Treasury to disclose to ED tax return information necessary to carry out the IDEA Loan Repayment Program, and (2) to exclude loan forgiveness under the program from gross income.

Educational Freedom Accounts Act

United States · United States Congress · 20 January 2016

Educational Freedom Accounts Act This bill requires the District of Columbia to provide education savings accounts for children who are eligible to receive a free public education in the District, but whose parents choose not to enroll them in a public school or home schooling. To receive an account, a child must be either entering kindergarten or prekindergarten or have been enrolled in a public school in the District during the previous year. The Chief Financial Officer of the District must award a contract to a tax-exempt entity based in the District to administer the program. The District must fund the accounts with amounts that are adjusted based on the family's income and range from 80% to 90% of the funds that the District of Columbia Public School System would otherwise spend on the child. Upon the direction of a parent, the administering entity must distribute the funds for educational expenses, including: tuition at a nonpublic school or for distance education, tutoring, curricula or online courses, special education, individual courses or extracurricular activities at a public school within the District, dual credit courses that qualify for both secondary and postsecondary education credit, examinations, transportation to and from a provider, contributions to qualified tuition programs (529 plans) or Coverdell education savings accounts, or other educational expenses approved by the administering entity. At the end of the contract period, any remaining balances must be returned to the District.

College for All Act

United States · United States Congress · 13 January 2016

College for All Act This bill directs the Department of Education (ED) to award grants to states to eliminate tuition and required fees at public institutions of higher education (IHEs). It also amends the Higher Education Act of 1965 to: modify provisions related to interest rates on federal student loans to revise rates applicable to new loans disbursed on or after July 1, 2016; allow student loan borrowers to modify interest rates on outstanding federal student loans to current rates; reauthorize the Federal Work Study program for FY2017-FY2021; eliminate existing base guarantees of Federal Work Study funds to IHEs and require funds to be allocated based solely on the aggregate need of the institution’s students; authorize ED to establish a pilot program to streamline the federal financial assistance application process and reduce the need for students to apply for financial assistance each year; and require ED to use tax information from the second preceding tax year (the “prior, prior year”) to determine a student’s financial aid eligibility.

Proposing a balanced budget amendment to the Constitution of the United States.

United States · United States Congress · 13 January 2016

Constitutional Amendment This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for the year, excluding outlays for repayment of debt principal and receipts derived from borrowing. The President must submit an annual budget in which total outlays for the fiscal year do not exceed total receipts. Congress may waive the requirements for any fiscal year in which: a declaration of war is in effect, the United States is engaged in a military conflict which causes an imminent and serious military threat to national security as declared by a joint resolution, or a national emergency has been declared by a joint resolution. Any waiver must identify and be limited to the specific increase for the year that is necessary for the military conflict or emergency. Any increase in spending pursuant to a waiver must be offset by a budget surplus within 10 years of the end of the waiver.

Servicemember Retirement Improvement Act

United States · United States Congress · 13 January 2016

Servicemember Retirement Improvement Act This bill amends the Internal Revenue Code to allow members of the Ready Reserve of a reserve component of the Armed Forces to make the maximum allowable contribution ($18,000 in 2016) to their Thrift Savings Plans without limiting the amount such members may contribute to a retirement plan based upon other employment. The bill also doubles the maximum allowable contribution amount to the Thrift Savings Plans of federal employees in the Ready Reserve.

American Business Competitiveness Act of 2015

United States · United States Congress · 13 January 2016

American Business Competitiveness Act of 2015 This bill amends the Internal Revenue Code to: reduce the tax rate on the net business income of individual and corporate taxpayers to a maximum 25%; allow full expensing of deductible investment expenses in the current taxable year; redefine "net business income" to allow the deduction of the cost of business purchases; convert to a territorial system for taxing overseas income; apply the same tax rate to interest income of individuals that is applicable to dividends and capital gains income; and allow a five-year carryback of net operating losses and an indefinite carryforward of such losses.

Compact Impact Relief Act of 2016

United States · United States Congress · 12 January 2016

Compact Impact Relief Act of 2016 This bill requires the Department of Health and Human Services to make quarterly increases in the federal medical assistance percentage, under title XIX (Medicaid) of the Social Security Act, to cover expenditures for medical assistance provided to qualified nonimmigrants under the Compact of Free Association by American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, or the State of Hawaii. The bill amends the Elementary and Secondary Education Act of 1965 to make local educational agencies eligible for impact aid (aid to jurisdictions that lose property tax revenue due to federal activities or location within tax-exempt federal areas) for educating alien children admitted to the United States as citizens of one of the Freely Associated States. The bill amends the Housing and Community Development Act of 1980 to grant a preference to citizens and nationals of the United States within Guam or the Commonwealth of the Northern Mariana Islands in the receipt of housing assistance over any non-resident alien. The bill directs the Department of State to contract with an eligible organization to conduct an independent assessment of the strategic importance of the relationship between the United States and the Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau.

Article I Consolidated Appropriations Amendments, 2016

United States · United States Congress · 12 January 2016

Article I Consolidated Appropriations Amendments, 2016 This bill amends the Consolidated Appropriations Act, 2016 to restrict federal agencies from using appropriations for certain activities. The bill includes restrictions that affect policy and regulations in areas, including: tobacco products, greenhouse gas emissions, fisheries, exports to Cuba, endangered species, water and air quality, hydraulic fracturing, limits on truck size, housing discrimination, fiduciary standards for providing investment advice for pension and retirement plans, determinations of tax-exempt status, the funding source for the Consumer Financial Protection Bureau, immigration, and the implementation of the Patient Protection and Affordable Care Act. The bill authorizes a land exchange between Alaska and the Department of the Interior to construct a road between the cities of King Cove and Cold Bay to provide access to emergency medical services using the airport in Cold Bay. Enforce the Law for Sanctuary Cities Act The bill amends the Immigration and Nationality Act and includes other provisions to bar states and local subdivisions from receiving certain federal funds if they prohibit state or local law enforcement officials from engaging in certain activities related to the enforcement of federal immigration laws.

Ensuring Integrity in the IRS Workforce Act of 2016

United States · United States Congress · 12 January 2016

Ensuring Integrity in the IRS Workforce Act of 2016 This bill amends the Internal Revenue Code to prohibit the Internal Revenue Service (IRS) from rehiring any individual who was previously employed by the IRS but was removed for misconduct or whose employment was terminated for cause.

Student Tax Affordability and Relief Act

United States · United States Congress · 11 January 2016

Student Tax Affordability and Relief Act This bill amends the Internal Revenue Code to exclude from an employee's gross income, for income tax purposes, qualified student loan payment assistance provided by an employer. This assistance includes the payment of principal or interest, up to $10,000 in a taxable year, on student loan indebtedness incurred by an employee for higher education expenses. 

Volatility And Losses Undermining Earnings Act of 2016

United States · United States Congress · 8 January 2016

Volatility And Losses Undermining Earnings Act of 2016 This bill amends the Internal Revenue Code to waive the minimum distribution requirements for certain defined contribution pension plans or individual retirement plans during calendar year 2016.

Defending America's Small Contractors Act of 2016

United States · United States Congress · 7 January 2016

Defending America's Small Contractors Act of 2016 This bill amends the Small Business Act to revise requirements for: increasing prime federal contracting opportunities for small business concerns, and determining awards or contracts for the sale of government property to such concerns. The bill revises requirements for annual Small Business Administration (SBA) reports to the President and Congress analyzing the number and dollar amount of prime contracts awarded by federal agencies each fiscal year to specified kinds of small business concerns. The total value of federal procurement contract awards to small business concerns for a fiscal year may not be determined in a manner that excludes the value of a contract based on where the contract is awarded, where it is performed, or other specified criteria. The bill amends the Small Business Act to revise the range of the anticipated value of federal procurement contracts that must be reserved exclusively for small businesses. The range shall be between the micro-purchase threshold ($3,000) and the simplified acquisition threshold ($100,000). (Currently the range of the anticipated value must be between $2,500 and $100,000.) A procurement center representative (PCR) may review any solicitation for a contract or task order without regard to whether there are any set-asides for small businesses. The bill specifies the principal duties of Commercial Market Representatives (CMRs), who are government contracting staff stationed at area SBA offices and reporting to specified senior SBA officers. The bill also allows for the management of each Office of Small and Disadvantaged Business Utilization (OSDBU) to be vested in an individual whose primary responsibilities were for the functions and duties of: (1) the procurement program for small business concerns owned and controlled by service-disabled veterans, and (2) the Historically Underutilized Business Zone (HUBZone) program. The OSDBU of each federal agency with procurement powers shall review agency purchases between the micro-purchase threshold and the simplified acquisition threshold to ensure that they have been made to comply with the Act and have been properly recorded in the Federal Procurement Data System, if the method of payment is a purchase card issued by the Department of Defense (DOD) or by an executive agency head. Each OSDBU shall assist a small business concern awarded a federal contract or subcontract under the Act, or under military or civilian procurement law, in finding resources for education and training on compliance with contracting regulations after such an award. The National Defense Authorization Act for Fiscal Year 1991 is amended to require agreements under the Mentor-Protege Program of DOD to include, if applicable, the assistance the mentor firm will give the protege firm in understanding contract regulations of the federal government and the DOD after the award of a subcontract. The Small Business Act is amended to require the SBA to give small business development centers and entities participating in the Procurement Technical Assistance Cooperative Agreement (PTACA) Program a list of resources for small business concerns seeking education and assistance on post-award compliance with contracting regulations. The SBA, with respect to a non-DOD mentor-protege program, shall issue regulations to address the extent to which assistance to improve the ability of proteges to compete for federal prime contracts and subcontracts complies with post-award federal contracting requirements. A federal agency's PCR or CMR may delay acceptance of a subcontracting plan for 30 days if the plan fails to provide the maximum practicable opportunity for certain covered small businesses to participate under the applicable contract. The SBA shall establish a pilot program for a small business performing as a first tier subcontractor under certain federal contracts to request a past performance rating in the system used by the federal government to monitor and record contractor past performance. The bill amends the National Defense Authorization Act for Fiscal Year 1991 to revise the no-affiliation requirement in the eligibility criteria under the Mentor-Protege Program of the DOD for a mentor firm to receive the award of a federal contract and enter into an agreement with one or more protege firms to provide them certain assistance. The bill amends the Small Business Act to bar DOD from carrying out a Mentor-Protege Program for a small business unless: (1) it submits a plan to the SBA, and (2) the SBA approves that plan. The bill requires the SBA at least annually to provide a list of pertinent regulation changes, together with compliance training materials, to the Defense Acquisition University, the Federal Acquisition Institute, the individual responsible for mandatory training and education of the acquisition workforce of each executive agency, small business development centers, and PTACA participants. The bill makes permanent the prohibition against protests in connection with the issuance or proposed issuance of a task or delivery order for federal agency procurement of services or property except on specified grounds. The bill amends the Small Business Act to specify that any agricultural enterprise (farm) it covers is a small business concern regardless of whether its annual receipts, including those of any affiliates, exceed $750,000. The bill expands the definition of "small business concern owned and controlled by service-disabled veterans" to include certain small business concerns at least 51% of which, or at least 51% of whose stock, is owned by one or more veterans with permanent and total service-connected disabilities rendering them unable to manage daily business operations. The bill directs the Government Accountability Office to initiate a review of the Office of Government Contracting and Business Development of the SBA.

Fiscal Year 2016 Department of Veterans Affairs Seismic Safety and Construction Authorization Act

United States · United States Congress · 6 January 2016

Fiscal Year 2016 Department of Veterans Affairs Seismic Safety and Construction Authorization Act This bill authorizes the Department of Veterans Affairs (VA) to carry out the following major medical facility projects (each with specified maximum authorized funds): seismic corrections to buildings, including retrofitting and replacement of high-risk buildings, in San Francisco, California; seismic corrections to facilities, including facilities to support homeless veterans, at the medical center in West Los Angeles, California; seismic corrections to the mental health and community living center in Long Beach, California; construction of an outpatient clinic, administrative space, cemetery, and columbarium in Alameda, California; realignment of medical facilities in Livermore, California; construction of a medical center in Louisville, Kentucky; construction of a replacement community living center in Perry Point, Maryland; and seismic corrections and other renovations to several buildings and construction of a specialty care building in American Lake, Washington. A specified amount is authorized to be appropriated to the VA for such projects for FY2016 or the year in which funds are appropriated for the Construction, Major Projects, account. Such projects may only be carried out using specified funds.

Small Business ECCEL Act

United States · United States Congress · 6 January 2016

Small Business Easy Contract Compliance Enhancement and List Act of 2016 or the Small Business ECCEL Act This bill amends the Small Business Act to require each Office of Small and Disadvantaged Business Utilization of the Small Business Administration (SBA) to assist a small business concern awarded a federal contract or subcontract under the Act, or under military or civilian procurement law, in finding resources for education and training on compliance with contracting regulations (including the Federal Acquisition Regulation [FAR]) after such an award. The National Defense Authorization Act for Fiscal Year 1991 is amended to require agreements under the Mentor-Protege Program of Department of Defense (DOD) to include, if applicable, the assistance the mentor firm will give the protege firm in understanding contract regulations of the federal government and the DOD (including the FAR and the Defense Federal Acquisition Regulation Supplement) after the award of a subcontract. The Small Business Act is amended to require the SBA to give small business development centers and entities participating in the Procurement Technical Assistance Cooperative Agreement Program, and make available on the SBA website, a list of resources for small business concerns seeking education and assistance on post-award compliance with contracting regulations. Each procurement center representative may assist small business concerns in finding such education and training resources. The SBA, with respect to a non-DOD mentor-protege program, shall issue regulations to address the extent to which assistance to improve the ability of proteges to compete for federal prime contracts and subcontracts complies with post-award federal contracting requirements.

Improving Contract Procurement for Small Businesses through More Accurate Reporting Act of 2016

United States · United States Congress · 6 January 2016

Improving Contract Procurement for Small Businesses through More Accurate Reporting Act of 2016 This bill amends the Small Business Act to require the Small Business Administration to report to the President and Congress an analysis of the number and dollar amount of prime contracts awarded by federal agencies each fiscal year to small business concerns, including those: owned and controlled by service-disabled veterans; located in qualified HUBZones; owned and controlled by socially and economically disadvantaged individuals; owned by an Indian tribe, an Alaska Native Corporation, or a Native Hawaiian Organization; or owned and controlled by women. The analyses shall cover all such small business concerns: that were purchased by another entity after the initial contract was awarded and as a result would no longer be deemed to be small business concerns for purposes of the initial contract, and that were awarded using a procurement method that restricted competition to the kinds of small business concerns listed here or a subset of any of them.

Transparency in Small Business Goaling Act of 2016

United States · United States Congress · 6 January 2016

Transparency in Small Business Goaling Act of 2016 This bill amends the Small Business Act to revise requirements for federal procurement contracts awarded to small businesses. The total value of federal procurement contract awards for a fiscal year may not be determined in a manner that excludes the value of a contract based on: where the contract is awarded; where it is performed; whether the contract is required by federal law to be performed by an entity other than a small business; whether funding for the contract is made available in an appropriations Act, if the contract is subject to requirements for civilian procurement planning and solicitation or military procurement as well as the Federal Acquisition Regulation (FAR); or whether the contract is otherwise subject to the FAR.