Taxation

To require the Secretary of the Treasury to implement security measures in the electronic tax return filing process to prevent tax refund fraud from being perpetrated with electronic identity theft.

United States · United States Congress · 20 April 2017

This bill directs the Internal Revenue Service (IRS) to implement security measures in the electronic tax return filing process designed to prevent tax refund fraud involving electronic identity theft. Prior to implementing the measures, the IRS must: (1) establish and carry out a one-year pilot program to implement security measures, including the use of security questions, in the electronic tax return filing process in select counties across the United States where tax refund fraud involving electronic identity theft is most prevalent; and (2) submit to Congress recommendations on how to expand the process nationwide.

Tax Equity Act of 2017

United States · United States Congress · 20 April 2017

Tax Equity Act of 201 7 This bill amends the Internal Revenue Code to provide for regional cost-of-living adjustments in individual income tax rates. The bill also directs the Department of Labor to determine and publish a regional cost-of-living index for each statistical area for 2017 and each calendar year thereafter. A "statistical area" is: (1) any metropolitan statistical area as defined by the Department of Commerce, and (2) the portion of any state not within a metropolitan statistical area.

Tax Fairness for All Families Act of 2017

United States · United States Congress · 20 April 2017

Tax Fairness for All Families Act of 201 7 This bill amends the Internal Revenue Code, with respect to the earned income tax credit, to provide for an increased credit percentage for taxpayers with more than three qualifying children.

GI Bill STEM Extension Act of 2017

United States · United States Congress · 20 April 2017

GI Bill STEM Extension Act of 2017 This bill directs the Department of Veterans Affairs to pay the lesser of nine months or $30,000 of additional Post-9/11 educational assistance to selected eligible veterans who have used all of the Post-9/11 educational assistance to which they were entitled and who: (1) are enrolled in a postsecondary education program that requires more than the standard 128 semester (or 192 quarter) credit hours for completion in a specified science, technology, engineering, or mathematics (STEM) field; or (2) have earned a postsecondary degree in one of those fields and are enrolled in a teaching certification program. In selecting eligible individuals, priority shall be given to individuals who: (1) require the most credit hours; or (2) served on active duty service for at least 36 months with an honorable discharge, continued active duty service after such 36-month period, or served at least 30 days of continuous active duty service with a service-connected discharge. Such additional assistance may not be transferred. The maximum amount of assistance paid to all eligible individuals in a fiscal year may not exceed $100 million.

Promotion and Expansion of Private Employee Ownership Act of 2017

United States · United States Congress · 12 April 2017

Promotion and Expansion of Private Employee Ownership Act of 201 7 This bill expands tax incentives and federal assistance for employee stock ownership plans (ESOPs) that are sponsored by S corporations. The bill provides additional tax incentives for ESOPs by (1) extending to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP; and (2) allowing a tax deduction for 50% of the interest received by a bank on loans to S corporation-sponsored ESOPs for the purchase of employer securities. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The bill defines an "ESOP business concern" and allows such a concern to continue to qualify as a small business for the purposes of programs under the Small Business Act. An "ESOP business concern" is a business concern that was a small business concern eligible for a loan, preference, or other program under the Small Business Act before more than 49% of the business concern was acquired by an ESOP.

Motorsports Fairness and Permanency Act

United States · United States Congress · 12 April 2017

Motorsports Fairness and Permanency Act This bill amends the Internal Revenue Code to make permanent the accelerated depreciation (seven-year recovery period) of motorsports entertainment complexes.

No Coverage, No Penalty Act

United States · United States Congress · 12 April 2017

No Coverage, No Penalty Act This bill amends the Internal Revenue Code to exempt from the requirement to maintain minimum essential health coverage (commonly referred to as the individual mandate) individuals who reside in a rating area or county in which the Department of Health and Human Services certifies that no qualified health plans are offered through an exchange established under the Patient Protection and Affordable Care Act.

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

United States · United States Congress · 8 April 2017

Constitutional Amendment This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year unless Congress authorizes the excess by a two-thirds roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment also: prohibits total outlays for any fiscal year from exceeding 18% of the economic output of the United States unless two-thirds of each chamber of Congress provides a specific increase in outlays above this amount; requires a three-fourths roll call vote of each chamber of Congress to increase the public debt limit; requires a two-thirds roll call vote of each chamber of Congress to increase revenue; requires the President to transmit to Congress a proposed balanced budget each year and prohibits the President from being compensated if the requirement is not met; and requires Congress to consider and approve a balanced budget each year and prohibits Members of Congress from being compensated if the requirement is not met. Congress may waive these requirements when a declaration of war is in effect or if the United States is engaged in a military conflict which causes an imminent and serious military threat to national security. The amendment prohibits a court from entering an order in any action that results in an increase in the collection of revenue.

Expressing the sense of the House of Representatives that the President of the United States shall, with the help of the Congress, address comprehensive tax reform within the first 240 days of the President's administration.

United States · United States Congress · 8 April 2017

Expresses the sense of the House of Representatives that the President shall, with the help of Congress, address comprehensive tax reform within the first 240 days of the President's administration.

A bill to prohibit any reduction in the amount of the per diem allowance to which members of the Army, Navy, Air Force, and Marine Corps or civilian employees of the Department of Defense are entitled based on the duration of temporary duty assignments or official travel, and for other purposes.

United States · United States Congress · 7 April 2017

This bill prohibits uniformed service agencies or the Department of Defense (DOD) from altering the amount of the locality-based travel and transportation per diem allowances or reimbursements to which certain uniformed service members or civilian DOD employees are entitled based on the duration of temporary duty assignments or official travel in a locality. The bill nullifies the DOD policy implemented on November 1, 2014, regarding reductions in per diem allowances based on the duration of temporary duty assignments or civilian travel. The National Defense Authorization Act for Fiscal Year 2017 is amended to repeal the modifications to the flat rate per diem requirements for DOD military and civilian personnel on long-term temporary duty assignments.

Conrad State 30 and Physician Access Reauthorization Act

United States · United States Congress · 7 April 2017

Conrad State 30 and Physician Access Reauthorization Act This bill amends the Immigration and Nationality Technical Corrections Act of 1994 to extend the J-1 visa waiver program (Conrad state 30/medical services in underserved areas) through September 30, 2021. The bill sets forth specified employment protections and contract requirements for alien physicians working in underserved areas, including: (1) a six-month status extension for a physician whose application his been denied by an oversubscribed state and who then agrees to work in an undersubscribed state, and (2) an allowable adjustment from a J-1 to an H-1B visa (specialty workers with a permitted U.S. stay of up to six years) for a physician fulfilling waiver requirements. The bill permits a state, under specified circumstances, to recapture a waiver slot lost to another state if a physician working in a health facility accepts employment with such a facility in another state. The number of alien physicians that a state may be allocated is increased from 30 to 35 per fiscal year under specified circumstances. The bill provides for: (1) additional increases or decreases based upon demand, and (2) up to three visa waivers per fiscal year per state for physicians in academic medical centers. Dual intent is permitted for an alien coming to the United States to receive graduate medical education or training or to take examinations required for graduate medical education or training.

SMART Act

United States · United States Congress · 7 April 2017

Simplified, Manageable, And Responsible Tax Act or the SMART Act This bill amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% on individual taxable income. The bill redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. It also: increases the basic standard deduction, includes an additional standard deduction for dependents, and includes the taxable income of each dependent child under the age of 14 in an individual's taxable income. The bill revises the tax on corporations to: (1) replace it with a tax on every person engaged in a business activity equal to 17% of the business taxable income of such person; and (2) make the person engaged in the business activity liable for the tax, whether or not such person is an individual, a partnership, or a corporation. The bill imposes on employers a 17% tax on the value of excludable compensation provided during the year to employees. With respect to pension rules, the bill: (1) repeals rules relating to non-discrimination, contribution limits, and restrictions on distributions; and (2) revises rules relating to transfers of excess pension assets. The bill also repeals: the alternative minimum tax; all income tax credits; estate, gift, and generation-skipping transfer taxes; and income tax provisions, except certain provisions relating to retirement distributions and tax-exempt organizations. The bill prohibits Congress from considering legislation to make specified changes to tax policy unless Congress waives or suspends the prohibition with a three-fifths vote.

DEPARTMENT OF DEFENSE APPROPRIATIONS FOR FISCAL YEAR 2017

United States · United States Senate · 6 April 2017

To prohibit any reduction in the amount of the per diem allowance to which members of the Army, Navy, Air Force, and Marine Corps or civilian employees of the Department of Defense are entitled based on the duration of temporary duty assignments or official travel, and for other purposes.

United States · United States Congress · 6 April 2017

This bill prohibits uniformed service agencies or the Department of Defense (DOD) from altering the amount of the locality-based travel and transportation per diem allowances or reimbursements to which certain uniformed service members or civilian DOD employees are entitled based on the duration of temporary duty assignments or official travel in a locality. The bill nullifies the DOD policy implemented on November 1, 2014, regarding reductions in per diem allowances based on the duration of temporary duty assignments or civilian travel. The National Defense Authorization Act for Fiscal Year 2017 is amended to repeal the modifications to the flat rate per diem requirements for DOD military and civilian personnel on long-term temporary duty assignments.

Medicare Demonstration of Coverage for Low Vision Devices Act of 2017

United States · United States Congress · 6 April 2017

Medicare Demonstration of Coverage for Low Vision Devices Act of 2017 This bill requires the Centers for Medicare & Medicaid Services (CMS) to carry out a demonstration project to evaluate the fiscal impact of covering low-vision devices under Medicare in the same manner as Medicare coverage is provided for durable medical equipment. "Low-vision device" means a physician-prescribed device that magnifies, enhances, or otherwise augments or interprets visual images; the term does not include ordinary eyeglasses or contact lenses. The bill appropriates $2.5 million for FY2018 and each of the next four fiscal years for the CMS to carry out the project.

Budgeting for Opioid Addiction Treatment Act

United States · United States Congress · 6 April 2017

Budgeting for Opioid Addiction Treatment Act This bill amends the Internal Revenue Code, with respect to excise taxes on manufacturers, to impose a one cent per milligram fee on the sale of active opioids by the manufacturer, producer, or importer. The fee excludes prescription drugs used exclusively for the treatment of opioid addiction as part of a medically assisted treatment effort. The Department of Health and Human Services (HHS) must establish a program to provide rebates or discounts to cancer and hospice patients to ensure that they do not pay the fee. The bill amends the Public Health Service Act to require any increase in federal revenues from the fee after rebates and discounts are subtracted to be distributed to states under the Substance Abuse Prevention and Treatment Block Grant program. The states must use the funds exclusively for substance abuse (including opioid abuse) efforts in the states, including: (1) specified treatment programs, and (2) the recruitment and training of substance use disorder professionals to work in rural and medically underserved communities. HHS must report to Congress on the impact of this bill on the retail cost of opioids and patient access to opioid medication, the effectiveness of the discount or rebate for cancer and hospice patients, how the funds are being used to improve substance abuse treatment efforts, and suggestions for improving access to opioids for cancer and hospice patients and substance abuse treatment efforts.

Jump Start America Act of 2017

United States · United States Congress · 6 April 2017

Jump Start America Act of 2017 This bill amends the Internal Revenue Code, with respect to several corporate and individual income tax policies, to: revise individual income tax rates to establish a 20% rate on taxable income of $1 million or less and a 30% rate on taxable income over $1 million, with an adjustment for inflation after 2016; revise the income tax rates on corporations to impose a single 20% rate on corporate taxable income; modify the formula for calculating the tax on the net capital gains of individual taxpayers to provide for a maximum 15% rate on the adjusted net capital gain of such taxpayers; reduce the tax rate on current and accumulated foreign earnings of U.S. corporations reinvested in the United States and make the lower rate permanent; increase the additional depreciation allowance (bonus depreciation) from 50% to 100% of the adjusted basis of qualifying business property and to make such increased allowance permanent; reduce Social Security and Medicare payroll taxes for employers, employees, and the self-employed; and repeal the federal estate, gift, and generation-skipping transfer taxes.

Ending Homelessness Act of 2017

United States · United States Congress · 6 April 2017

Ending Homelessness Act of 2017 This bill amends the McKinney-Vento Homeless Assistance Act to make additional FY2018-FY2022 appropriations available for: (1) emergency relief grants to address the unmet needs of homeless populations in jurisdictions with the highest need, (2) rental assistance under the United States Housing Act of 1937 for persons and households who are homeless, and (3) homeless outreach and coordination services. Beginning in FY2018, the bill provides annual additional funds for: (1) the Housing Trust Fund to provide grants to states for use to increase homeownership and the supply of rental housing for extremely low- and very low-income families, including homeless families; and (2) incremental project-based voucher or rental assistance under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. During the first five fiscal years such amounts are made available, the Department of Housing and Urban Development (HUD) must ensure that priority for occupancy in dwelling units located in housing that was provided or is receiving such assistance be given to persons and households who are homeless. When HUD allocates grants to states from the fund for rental housing, the dwelling units must be subject to legally binding commitments to ensure that the residing family's contribution toward rent does not exceed 30% of the family's adjusted income. The bill provides funding to HUD to expand the Healthcare and Housing (H2) Systems Integration Initiative by assisting states and localities in coordinating policies among Medicaid programs, behavioral health providers, housing providers, and finance support services for homeless persons. The bill makes permanent: (1) certain housing assistance programs under the Homeless Assistance Act, and (2) the U.S. Interagency Council on Homelessness.

Improved Employment Outcomes for Foster Youth Act of 2017

United States · United States Congress · 6 April 2017

Improved Employment Outcomes for Foster Youth Act of 201 7 This bill amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC) to include the hiring of qualified foster care transition youth. (The WOTC permits employers who hire individuals who are members of a targeted group [e.g., qualified veterans, ex-felons, SSI recipients] to claim a tax credit equal to a portion of the wages paid to those individuals.) A "qualified foster care transition youth" is any individual who is certified by the designated local agency as: (1) not having attained age 27 as of the hiring date, and (2) as having been in foster care after attaining the age specified in provisions of the Social Security Act related to the John H. Chafee Foster Care Independence Program (currently 16 years of age).

Charity Transparency Act of 2017

United States · United States Congress · 6 April 2017

Charity Transparency Act of 2017 This bill amends the Internal Revenue Code to require tax-exempt organizations to disclose details regarding employees and board members involved in terror finance activities. An organization applying for tax-exempt status must disclose in its application the names and addresses of any officer, director, trustee, or highly compensated employee who, at any time prior to the date of the application, was: a member or employee of an organization: (1) named on the Department of the Treasury's Designated Charities and Potential Fundraising Front Organizations for FTOs (Foreign Terrorist Organizations) list, or (2) with property that has been blocked pending investigation by Treasury's Office of Foreign Assets Control; an unindicted co-conspirator with respect to a terror finance scheme of an organization described above; or an employee of any charity found liable for civil damages due to an act of international terrorism. In lieu of the disclosure, the organization may include a statement indicating that no officer, director, trustee, or highly compensated employee of the organization (or individual with similar powers and responsibilities) meets the criteria described above. Tax-exempt organizations must also include either the required disclosure or the statement in annual tax returns filed after the enactment of this bill.

Tax Fairness and Transparency Act

United States · United States Congress · 6 April 2017

Tax Fairness and Transparency Act This bill amends the Internal Revenue Code to limit the tax deduction of the interest expense of a U.S. corporation that is a member of a financial reporting group (a group that prepares consolidated financial statements according to accepted accounting principles or international financial reporting standards) to: (1) the amount of interest on indebtedness of the corporation includible in the corporation's gross income for the taxable year plus its proportionate share of the group's net interest expense in the taxable year computed under U.S. income tax principles; or (2) not more than 10% of the corporation's adjusted taxable income, if the corporation fails to substantiate its proportionate share of interest expense or so elects. The bill exempts from the limitation a corporation that is predominantly engaged in the active conduct of a banking, financing, or similar business or that has less than $5 million of net interest expense for the taxable year. The bill also modifies the definition of subpart F income (i.e., income of a controlled foreign corporation earned outside the United States that is not tax-deferred) to include income of a controlled foreign corporation derived from any foreign country. This modification is applicable to taxable years beginning after December 31, 2017. The bill amends the Securities Exchange Act of 1934 to require each issuer of a security who is required to file an annual or quarterly report to disclose specified: (1) details regarding pre-tax profits and taxes paid; and (2) corporate financial information, aggregated on a country-by-country basis, for each of its subsidiaries.

To repeal the violation of sovereign nations' laws and privacy matters.

United States · United States Congress · 6 April 2017

This bill amends the Internal Revenue Code, with respect to tax administration requirements for foreign-source income and assets, to repeal: (1) withholding requirements for payments to foreign financial institutions and other foreign entities, (2) information reporting for foreign financial assets, (3) penalties for underpayments of tax attributable to undisclosed foreign financial assets, (4) reporting requirements for shareholders of a passive foreign investment company and U.S. owners of foreign trusts, and (5) the additional penalty for failure to file required notices and information returns for certain foreign trusts.

Tribal Adoption Parity Act

United States · United States Congress · 6 April 2017

Tribal Adoption Parity Act This bill amends the Internal Revenue Code to allow Indian tribal governments to determine whether a child has special needs for the purposes of the adoption tax credit.

End Discriminatory State Taxes for Automobile Renters Act of 2017

United States · United States Congress · 6 April 2017

End Discriminatory State Taxes for Automobile Renters Act of 201 7 This bill prohibits state or local taxes that discriminate against the rental of motor vehicles, the business of renting motor vehicles, or motor vehicle rental property, except where such tax is imposed as of the enactment date of this bill, the tax does not lapse, the tax rate does not increase, and the tax base for such tax does not change. A tax that is imposed on the rental of motor vehicles or a motor vehicle rental business is discriminatory if: (1) it is not generally applicable to more than 51% of other rentals of tangible personal property or businesses within a state or locality, or (2) the rate exceeds the generally applicable tax rate on at least 51% of the other rentals of tangible personal property or businesses within the jurisdiction. A tax discriminates against motor vehicle rental property if a state or locality: (1) assesses the property at a value that has a higher ratio to the true market value of the property than the ratio applicable to commercial and industrial property, or (2) levies or collects either a tax on an assessment prohibited by this bill or an ad valorem property tax on motor vehicle rental property at a generally applicable rate that exceeds the rate for commercial and industrial property in the jurisdiction. A person who is aggrieved by a discriminatory tax may bring a civil action in a U.S. district court for damages, injunctive relief, other legal or equitable relief, or declaratory relief.

Strengthen Employment And Seasonal Opportunities Now (SEASON) Act

United States · United States Congress · 6 April 2017

Strengthen Employment And Seasonal Opportunities Now (SEASON) Act This bill amends the Immigration and Nationality Act to provide, effective as if enacted on January 1, 2017, that a returning H-2B visa alien (temporary nonagricultural worker) who has already been counted toward the applicable numerical limitation during a fiscal year: (1) shall not again be counted toward such limitation during each succeeding consecutive fiscal year in which the alien is issued an H-2B visa or otherwise provided such status, but (2) shall be considered a returning worker. "Other temporary service or labor" for H-2B purposes means that an employer's need for labor will not exceed 1 year and is a seasonal (not to exceed 10 months), peak load, or intermittent need, unless it is a one-time occurrence not exceeding 3 years. An H-2B employer shall file an employee petition with the Department of Homeland Security. Additional filings with the Department of Labor are not required. H-2B employer requirements are set forth regarding: (1) petitions, (2) admissions and maximum stay in status, (3) housing, (4) enforcement, (5) transportation, (6) recruitment, (7) U.S. worker protections, and (8) wages. An H-2B worker shall not be entitled to: (1) tax credit assistance for a qualified health plan, and shall be subject to plan rules applicable to individuals not lawfully present in the United States; (2) the child tax credit; and (3) the earned income tax credit.

No More Tulias: Drug Law Enforcement Evidentiary Standards Improvement Act of 2017

United States · United States Congress · 6 April 2017

No More Tulias: Drug Law Enforcement Evidentiary Standards Improvement Act of 201 7 This bill prohibits a state from receiving for a fiscal year any drug control and system improvement (Byrne) grant funds under the Omnibus Crime Control and Safe Streets Act of 1968, or any amount from any other federal law enforcement assistance program, unless the state does not fund any antidrug task forces for that fiscal year or it has in effect laws that ensure that: (1) a person is not convicted of a drug offense unless the fact that a drug offense was committed and the person's commission of the offense are supported by evidence other than the eyewitness testimony of a law enforcement officer or those acting on an officer's behalf, and (2) an officer may participate in an antidrug task force only if that officer's honesty and integrity are evaluated and found to be at an appropriately high level. States receiving federal funds under this bill are directed to collect data on the racial distribution of drug charges, the nature of the criminal law specified in the charges, and the jurisdictions in which such charges are made.

Providing for further consideration of the bill (H.R. 1628) to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fiscal year 2017.

United States · United States Congress · 6 April 2017

Sets forth the rule for consideration of H.R. 1628 (American Health Care Act of 2017).

Kids First Research Act 2.0

United States · United States Congress · 6 April 2017

Kids First Research Act 2.0 This bill amends the Internal Revenue Code to terminate: (1) the taxpayer election to designate $3 of income tax liability for financing of presidential election campaigns for taxable years beginning after December 31, 2016, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account. The Department of the Treasury must transfer amounts in the fund as of the date of the enactment of this bill to the 10-Year Pediatric Research Initiative Fund. The bill expresses the sense of Congress that the Director of the National Institutes of Health (NIH) should oversee and coordinate research that is conducted or supported by the NIH for research on pediatric cancer and other pediatric diseases and conditions, including through the 10-Year Pediatric Research Initiative Fund. The bill also amends the Public Health Service Act to require the NIH to prioritize pediatric research that does not replicate existing NIH research activities.

Savings Enhancement by Alleviating Leakage in 401(k) Savings Act

United States · United States Congress · 6 April 2017

Savings Enhancement by Alleviating Leakage in 401(k) Savings Act This bill amends the Internal Revenue Code, with respect to loans made from a qualified employer plan, to extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed. The bill also requires the Department of the Treasury to modify regulations governing hardship distributions from qualified employer plans to allow participants to make additional contributions to a plan during the six-month period following a hardship distribution.

To amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands.

United States · United States Congress · 6 April 2017

This bill amends the Internal Revenue Code to repeal the limitation on the amount of distilled spirits excise taxes covered over (paid) to the treasuries of the Virgin Islands and Puerto Rico.

To amend the Internal Revenue Code of 1986 to exclude certain abortions from the definition of qualified medical expenses for purposes of distributions from health savings accounts.

United States · United States Congress · 6 April 2017

This bill amends the Internal Revenue Code to specify that, for the purpose of a health savings account, an abortion is not a qualified medical expense unless: (1) the pregnancy is the result of an act of rape or incest; or (2) the woman suffers from a physical disorder, injury, or illness, including a life-endangering physical condition caused by or arising from the pregnancy itself, that would, as certified by a physician, place the woman in danger of death unless an abortion is performed.

Autofill Act of 2017

United States · United States Congress · 6 April 2017

Autofill Act of 201 7 This bill amends the Internal Revenue Code to require the Department of the Treasury to establish a program to allow taxpayers to download income tax forms that are populated with tax return information (e.g., wages, withholding, and self-employment income) previously reported to Treasury for the taxable year. By October 31, 2017, Treasury must: (1) establish standards for data download to tax preparation software, and (2) provide a demonstration server for downloading the partially populated printable document file. By February 15, 2018, and annually thereafter, Treasury must a provide a secure function on its website that allows a taxpayer to download, as both a printable document file and in a form suitable for input to automatic tax preparation software, the 1040, 1040A, and 1040EZ forms that are populated with tax return information previously reported to Treasury. The bill also establishes deadlines for reporting tax return information to Treasury and for making such information available for populating tax returns.

Retirement Inflation Protection Act of 2017

United States · United States Congress · 6 April 2017

Retirement Inflation Protection Act of 201 7 This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of individuals who: (1) have held the asset for more than 3 years, and (2) have attained the age of 59-1/2 as of the date of the sale or other disposition of the asset. The bill sets forth rules for applying the inflation adjustment to short sales, dispositions between related persons, and improvements to property or contributions of capital. The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.

Equitable Student Aid Access Act

United States · United States Congress · 6 April 2017

Equitable Student Aid Access Act This bill amends the Higher Education Act of 1965 to revise requirements governing the Free Application for Federal Student Aid (FAFSA). The bill increases the adjusted gross income threshold used to determine whether a student qualifies for an automatic zero expected family contribution (EFC) in the calculation of the student's financial need. A dependent student is eligible for an automatic zero EFC if the student's parents have adjusted gross income up to $30,000. An independent student with non-spouse dependents is eligible for a zero EFC if the student and spouse have adjusted gross income up to $30,000. The bill requires the Department of Education (ED) to allow students to use tax information from the year before the previous one in determining their financial aid eligibility. The Internal Revenue Service and ED must share available data pursuant to taxpayer consent. The bill requires the FAFSA application to be available to students by October 1, which is three months earlier than is currently required.

Tax Pollution, Not Profits Act

United States · United States Congress · 6 April 2017

Tax Pollution, Not Profits Act This bill amends the Internal Revenue Code to impose an excise tax on certain greenhouse gas emissions. The tax is equal to $30 per metric ton of carbon dioxide or carbon dioxide equivalent in 2018, increasing each subsequent year at 4% above inflation. The Internal Revenue Service must: (1) provide certain refunds of the tax to account for the capture and permanent sequestration of greenhouse gas emissions, and (2) adjust the tax to account for goods that are exported or imported. The bill amends the Social Security Act to establish a Low-Income Energy Cost Mitigation Program to provide an energy refund amount to certain low and middle-income households to compensate such households for increases in energy costs due to this bill. The Department of Labor may use up to 2% of the revenues generated by this bill to implement a program to assist displaced workers in the coal industry. The bill also provides for a gradual reduction in the corporate income tax rate to 32% in taxable years beginning in 2018 and 28% in taxable years beginning after 2021. The bill requires the Department of the Treasury to establish a website to make information regarding the amount and sources of revenue attributable to this bill publicly available.

Carbon Capture Improvement Act of 2017

United States · United States Congress · 6 April 2017

Carbon Capture Improvement Act of 2017 This bill amends the Internal Revenue Code to authorize the issuance of tax-exempt facility bonds for the financing of qualified carbon dioxide capture facilities. A "qualified carbon dioxide capture facility" is any equipment installed in an industrial carbon dioxide facility that satisfies specified capture and storage requirements and: (1) is used for the capture, treatment and purification, compression, transportation, or on-site storage of carbon dioxide produced by the industrial carbon dioxide facility; or (2) is integral or functionally related and subordinate to a gasification process that converts a product from coal, petroleum residue, biomass, or other materials which are recovered for their energy or feedstock value into a synthesis gas composed primarily of carbon dioxide and hydrogen for direct use or subsequent chemical or physical conversion.

CO2 Regulatory Certainty Act

United States · United States Congress · 6 April 2017

CO2 Regulatory Certainty Act This bill amends the Internal Revenue Code to revise requirements for the secure geological storage of carbon dioxide for the purpose of the tax credit for carbon dioxide sequestration. The bill establishes a December 31, 2017, deadline and requirements for regulations that the Internal Revenue Service (IRS) is required, under current law, to establish for determining adequate security measures for the geological storage of the carbon dioxide such that carbon dioxide does not escape into the atmosphere. The IRS regulations must consider the carbon dioxide to be disposed of in secure geological storage if it is stored in compliance with specified rules promulgated by the Environmental Protection Agency under the Clean Air Act and the Safe Drinking Water Act for the geologic sequestration of carbon dioxide, the injection of carbon dioxide, and the criteria and standards for underground injection control programs that are applicable to Class II wells.

Offshoring Prevention Act

United States · United States Congress · 6 April 2017

Offshoring Prevention Act This bill amends the Internal Revenue Code to include imported property income in foreign base company income, for purposes of determining the income of controlled foreign corporations. The bill defines "imported property income" as, with certain exceptions, income derived in connection with: manufacturing, producing, growing, or extracting imported property; the sale, exchange, or other disposition of imported property; or the lease, rental, or licensing of imported property. The bill also provides for a separate application of limitations on the foreign tax credit for imported property income.

Tax Refund Protection Act of 2017

United States · United States Congress · 6 April 2017

Tax Refund Protection Act of 201 7 This bill amends the Internal Revenue Code to direct the Department of the Treasury to establish a program to license or certify and regulate tax return preparers. The program must require tax return preparers to: (1) demonstrate good character, good reputation, necessary qualifications, and competency; (2) pay a reasonable fee for licensing or certification; and (3) make certain disclosures regarding fees charged and the average amount of time expected to receive a tax refund. Treasury may take enforcement actions against a tax return preparer who is incompetent, disreputable, violates regulations, or misleads or threatens a consumer. The bill also amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB) to regulate refund anticipation payment arrangements. A refund anticipation payment arrangement is an arrangement under which, in exchange for tax preparation services, a taxpayer agrees to pay a fee or interest upon receipt of a tax refund to a preparer or lender either by: (1) requesting the federal government to deposit a tax refund, or a portion of the refund, into an account; or (2) directly paying the preparer or lender. The CFPB shall require tax return preparers offering a refund anticipation payment arrangement to provide a disclosure statement to a consumer about the arrangement and shall promulgate regulations that require preparers to comply with the disclosure requirements of the Truth in Lending Act. Finally, the bill allows an income tax refund requested on a tax return prepared by an income tax preparer to be split between the preparer and the taxpayer and prohibits the treatment of such a split as disreputable conduct merely because the taxpayer requested such split.

Protecting Volunteer Firefighters and Emergency Responders Act

United States · United States Congress · 6 April 2017

Protecting Volunteer Firefighters and Emergency Responders Act This bill amends the Internal Revenue Code to exclude services rendered by bona-fide volunteers providing firefighting and prevention services, emergency medical services, or ambulance services to a state or local government or a tax-exempt charitable organization from the category of services usually rendered by an employee of an applicable large employer subject to the mandate to provide minimum essential health care coverage under the Patient Protection and Affordable Care Act (PPACA), thus exempting such employers from PPACA requirements with respect to such volunteers. The bill defines "bona fide volunteer" as an employee of any government entity and any tax-exempt charitable organization whose only compensation is in the form of: (1) reimbursement for (or reasonable allowance for) reasonable expenses incurred in the performance of volunteer services, or (2) reasonable benefits (including length-of-service awards) and nominal fees customarily paid by similar entities for the services of volunteers.

Improved Employment Outcomes for Foster Youth Act of 2017

United States · United States Congress · 6 April 2017

Improved Employment Outcomes for Foster Youth Act of 201 7 This bill amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC) to include the hiring of qualified foster care transition youth. (The WOTC permits employers who hire individuals who are members of a targeted group [e.g., qualified veterans, ex-felons, SSI recipients] to claim a tax credit equal to a portion of the wages paid to those individuals.) A "qualified foster care transition youth" is any individual who is certified by the designated local agency as: (1) not having attained age 27 as of the hiring date, and (2) as having been in foster care after attaining the age specified in provisions of the Social Security Act related to the John H. Chafee Foster Care Independence Program (currently 16 years of age).

Tribal Adoption Parity Act

United States · United States Congress · 6 April 2017

Tribal Adoption Parity Act This bill amends the Internal Revenue Code to allow Indian tribal governments to determine whether a child has special needs for the purposes of the adoption tax credit.

Ensuring Pay for Our Military Act

United States · United States Congress · 6 April 2017

Ensuring Pay for Our Military Act This bill provides appropriations for military pay and allowances during a funding gap impacting the Armed Forces. Under the bill, a "funding gap" is any period of time after the beginning of a fiscal year for which interim or full-year appropriations for the personnel accounts of the Armed Forces for that fiscal year have not been enacted. If a funding gap occurs, the bill provides appropriations for the Department of Defense (DOD) and the Department of Homeland Security (in the case of the Coast Guard) to continue to provide pay and allowances (without interruption) to: members of the Army, Navy, Air Force, Marine Corps, and Coast Guard, including reserve components, who perform active service during the funding gap; at the discretion of DOD, civilian DOD personnel who are providing support to the members of the Armed Forces who perform active service during the funding gap; and at the discretion of DOD, personnel of DOD contractors who are providing direct support to the members of the Armed Forces who perform active service during the funding gap.

A bill to repeal the violation of sovereign nations' laws and privacy matters.

United States · United States Congress · 6 April 2017

This bill amends the Internal Revenue Code, with respect to tax administration requirements for foreign-source income and assets, to repeal: (1) withholding requirements for payments to foreign financial institutions and other foreign entities, (2) information reporting for foreign financial assets, (3) penalties for underpayments of tax attributable to undisclosed foreign financial assets, (4) reporting requirements for shareholders of a passive foreign investment company and U.S. owners of foreign trusts, and (5) the additional penalty for failure to file required notices and information returns for certain foreign trusts.

Offshoring Prevention Act

United States · United States Congress · 6 April 2017

Offshoring Prevention Act This bill amends the Internal Revenue Code to include imported property income in foreign base company income, for purposes of determining the income of controlled foreign corporations. The bill defines "imported property income" as, with certain exceptions, income derived in connection with: manufacturing, producing, growing, or extracting imported property; the sale, exchange, or other disposition of imported property; or the lease, rental, or licensing of imported property. The bill also provides for a separate application of limitations on the foreign tax credit for imported property income.

[H.A.S.C. No. 115-34]NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2018

United States · United States House of Representatives · 5 April 2017

TRANSPORTATION, HOUSING AND URBAN DEVELOPMENT, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2018

United States · United States Senate · 5 April 2017

PACE Act of 2017

United States · United States Congress · 5 April 2017

Protecting Americans from Credit Entanglements Act of 2017 or the PACE Act of 2017 This bill amends the Truth in Lending Act to extend that Act's requirements to real property retrofit loans. A "real property retrofit loan" is a loan that is: (1) secured by an interest in real property; (2) repayable in installment payments made concurrently with the payment of property taxes on the real property; and (3) used to finance real property retrofits, including energy-efficiency upgrades, renewable-energy installations, seismic retrofits, water-conservation upgrades, and other similar improvements. Before extending a real property retrofit loan, the creditor must disclose that the loan will result in a lien on the real property securing the loan.

Returning Worker Accountability Act of 2017

United States · United States Congress · 5 April 2017

Returning Worker Accountability Act of 2017 This bill exempts from the nonimmigrant H-2B visa (temporary nonagricultural services) annual numerical limitation for a fiscal year a returning worker who has already been counted toward such limitation during any of the preceding three fiscal years.

Proposing an amendment to the Constitution of the United States to repeal the sixteenth article of amendment.

United States · United States Congress · 5 April 2017

Constitutional Amendment This joint resolution proposes a constitutional amendment repealing the Sixteenth Amendment to the Constitution (authorizing taxation of income).