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801 records in US in 1995
United States · United States Congress · 27 February 1995
Semiconductor Investment Act of 1995 - Amends the Internal Revenue Code to make the depreciable life of semiconductor manufacturing equipment three years for purposes of application of the accelerated cost recovery system.
United States · United States Congress · 27 February 1995
TABLE OF CONTENTS: Title I: National Advisory Board on Adoption Title II: Adoption Data Collection System Title III: Adoption Education Programs Title IV: Adoption Benefits for Federal Employees and Military Personnel Title V: Adoption Tax Credit Title VI: Maternal Health Certificates Program Title VII: Rehabilitation Grants for Maternity Housing and Services Facilities Title VIII: Sense of Congress Regarding Changes in State Adoption Laws Omnibus Adoption Act of 1995 - Title I: National Advisory Board on Adoption - Establishes the National Advisory Board on Adoption to monitor program implementation under this Act and make recommendations to the Congress. Title II: Adoption Data Collection System - Requires the Secretary of Health and Human Services (the Secretary) to submit a status report to the Congress on implementation of a certain data collection system required under the Social Security Act. Title III: Adoption Education Programs - Amends the Higher Education Act of 1965 to direct the Secretary of Education to award social work graduate school fellowships for work in innovative programs on the effects of adoption on the parties involved. Authorizes appropriations. Directs the Secretary of Education to award grants to the States for implementation of adoption education programs. Authorizes appropriations. Title IV: Adoption Benefits for Federal Employees and Military Personnel - Amends Federal law to set forth adoption benefits for Federal employees and military personnel. Directs the Director of the Office of Personnel Management, the Secretary of Defense, and the Secretary of Transportation to coordinate their efforts in implementing this Act and to consult with the National Advisory Board on Adoption. Title V: Adoption Tax Credit - Amends the Internal Revenue Code to allow adoption expenses as a credit against the individual income tax. Requires married couples to file jointly in order to receive such credit. Title VI: Maternal Health Certificates Program - Directs the Secretary to establish a maternal health certificates program to cover maternity and housing services facility expenses incurred by eligible pregnant women. Authorizes appropriations. Title VII: Rehabilitation Grants for Maternity Housing and Services Facilities - Directs the Secretary of Housing and Urban Development to implement a grant program to assist eligible nonprofit entities to rehabilitate buildings for use as housing and services facilities for eligible pregnant women. Authorizes appropriations. Title VIII: Sense of Congress Regarding Changes in State Adoption Laws - Expresses the sense of the Congress that the States should adopt a specified statutory adoption scheme, including certain health plan benefits.
United States · United States Congress · 24 February 1995
TABLE OF CONTENTS: Title I: Political Relationship Title II: Applicability of Federal Law Title III: Foreign Affairs and Defense Title IV: Courts Title V: Trade Title VI: Taxation Title VII: Immigration Title VIII: Labor Title IX: Transportation and Telecommunications Title X: Land, Natural Resources and Utilities Title XI: United States Financial Assistance Title XII: Technical Amendments and Interpretation Guam Commonwealth Act - Title I: Political Relationship - Creates the Commonwealth of Guam. Grants the people of Guam the right of full self-government through adoption of a Constitution and within specified guidelines. (Sec. 102) Recognizes the right of self-determination of the people of Guam. Directs the U.S. Government to promote preservation of the Chamorro culture, enhanced economic, social, and educational opportunities for Chamorros, and training of Chamorros for employment. Directs Guam to establish a land trust for the benefit of the indigenous Chamorro people and to establish residency requirements under the Constitution of Guam for voting and holding elective office. (Sec. 103) Allows this Act to be modified only with the mutual consent of the Governments of the United States and Guam. Title II: Applicability of Federal Law - Makes specified provisions of, and amendments to, the U.S. Constitution applicable to Guam. (Sec. 202) Makes Federal laws, rules, or regulations passed after the date of this Act inapplicable unless mutually consented to by the Governments of the United States and Guam. (Sec. 203) Creates the Joint Commission on the Applicability of Federal Law. (Sec. 204) Authorizes the President to delegate to the Governor of Guam performance of functions now vested in Federal administrative agencies. Title III: Foreign Affairs and Defense - Grants the United States responsibility for authority with respect to matters relating to foreign affairs and defense that affect Guam. (Sec. 302) Prohibits the establishment of military security zones or the stationing of foreign military personnel on the Island of Guam without the approval of the Government of Guam except in time of declared war, or the establishment of military bases without consultation with the Governor. (Sec. 304) Prohibits the United States from using Guam or the water surrounding it for the dumping or storage of nuclear waste or hazardous chemicals. Provides for the cleanup by the United States of chemical dump sites used by the military. Requires the United States to compensate any person injured as a result of hazardous materials stored, used, or disposed of by the U.S. Government in Guam or its waters. Title IV: Courts - Specifies provisions governing the relations between U.S. courts and the local courts of Guam, the jurisdiction of the District Court of Guam, and the applicable district court rules. (Sec. 404) Provides for the appointment of a judge for the District Court of Guam, a U.S. attorney, and a U.S. marshal for Guam. Title V: Trade - Establishes a Guam-United States free trade area. Authorizes Guam to impose, increase, reduce, or eliminate duties and other restrictions on certain imports and exports. Title VI: Taxation - Makes U.S. income tax laws applicable to Guam. Deems such laws to impose a separate tax to be known as the Guam Commonwealth income tax. (Sec. 603) Allows the Government of Guam to provide for the rebate or reduction of taxes in order to assist new industries or economic development. (Sec. 604) Grants Guam the power to determine the nature and amount of taxes imposed upon the income and property of persons within its jurisdiction. Repeals applicable U.S. tax laws one year after Guam has enacted a replacement comprehensive local income tax. (Sec. 605) Exempts all bonds or other obligations issued by Guam from taxation by Federal, State, or local governments of the United States. Title VII: Immigration - Applies the Immigration and Nationality Act and pertinent Federal regulations to Guam for two years from enactment of this Act. Directs Guam to enact a comprehensive law on immigration to become effective at the end of the two-year period. (Sec. 702) Authorizes U.S. consular officials to issue visas for travel only to Guam for any alien seeking to enter Guam as a non-immigrant in order to encourage investors and tourists to come to Guam. Title VIII: Labor - Grants preference to qualified residents of Guam in all Federal civil service vacancies occurring in Guam. (Sec. 802) Grants Guam the authority to enact and enforce all laws regulating or affecting employment in Guam. Title IX: Transportation and Telecommunications - Precludes application of any U.S. law barring the U.S. registration and use of any foreign-built vessel within the waters around Guam for any purpose. Exempts from the coastwise laws of the United States any shipment of fish or fish products from Guam to any U.S. coastwise destination. Directs the Commission to examine the applicability of such laws and to recommend their termination upon determining that such laws constrain Guam's economic development. (Sec. 902) Authorizes the Governor of Guam to sponsor any qualified air service carrier to come to Guam, subject to presidential consultation concerning U.S. foreign policy and security interests. Exempts Guam from all bilateral treaties between the United States and foreign states with respect to scheduling and technical specifications of aircraft, other than safety requirements. (Sec. 903) Defines Guam as "domestic" for Federal Communications Commission rate setting purposes. Title X: Land, Natural Resources and Utilities - Grants the Government of Guam the power of eminent domain. Sets limits on U.S. acquisition of real property on Guam. Exempts Guam from Federal regulations governing the transfer or sale of excess Federal real property. Provides for the transfer of all excess Federal property to Guam, with specified exceptions. (Sec. 1003) Provides for access and use by the residents of Guam of certain retained Federal property, subject to military security requirements. (Sec. 1004) Directs the United States to transfer ownership of island utilities to Guam. Title XI: United States Financial Assistance - Provides for the return of U.S. revenues from taxes and fees collected in Guam to the Government of Guam. Makes U.S. laws providing Federal benefits and financial assistance which are applicable to the States equally applicable to Guam. (Sec. 1104) Directs the Governor of Guam, in preparing an annual budget, to identify the costs and benefits to Guam brought about by its role as one of the principal U.S. military bases. (Sec. 1105) Provides for assistance to aid Guam's transition to a Commonwealth. Title XII: Technical Amendments and Interpretation - Makes technical and conforming amendments. (Sec. 1204) Requires this Act to be submitted to the registered voters of Guam for ratification after being passed by the Congress. Repeals the Organic Act of Guam.
United States · United States Congress · 24 February 1995
Pension Reform Act of 1995 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (IRC) with respect to pension integration, participation, and vesting requirements. Extends applicability of new integration rules under the Tax Reform Act of 1986 to all existing accrued benefits. Amends the IRC to disallow integration for simplified employee pensions, by repealing provisions relating to permitted disparity under rules limiting discrimination under simplified employee pensions. Provides for eventual repeal of certain integration rules, by repealing for plan years beginning on or after January 1, 2003, IRC provisions relating to: (1) pension integration exceptions under nondiscrimination requirements for qualification; and (2) nondiscriminatory coordination of defined contribution plans with Old Age, Survivors and Disability Insurance. Revises IRC minimum coverage requirements with respect to separate lines of business. Sets forth a special rule where the employer operates a single line of business. Limits a line of business exception. Eliminates a special vesting rule for multiemployer plans under IRC and ERISA. Provides for division of pension benefits upon divorce unless otherwise provided in qualified domestic relations orders. Provides for the continued availability of remedies relating to rights of spouses to accrued benefits under pension plans under divorce case domestic relations orders entered before 1985. Amends the Railroad Retirement Act of 1974 to revise provisions relating to divorced wives' eligibility for annuities.
United States · United States Congress · 24 February 1995
Amends the Internal Revenue Code to apply the corporate income tax to the following Government-sponsored enterprises: the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Student Loan Marketing Association.
United States · United States Congress · 24 February 1995
Amends the Internal Revenue Code to allow a taxpayer other than a corporation a 100 percent deduction of net capital gain from gross income. Allows such deduction in computing adjusted gross income.
United States · United States Congress · 24 February 1995
Amends the Internal Revenue Code to repeal the estate tax, gift tax, and tax on generation-skipping transfers.
United States · United States Congress · 24 February 1995
Amends the Internal Revenue Code to exclude from an individual's gross income: (1) dividends received from domestic corporations; and (2) interest.
United States · United States Congress · 24 February 1995
Amends the Internal Revenue Code to include liability to pay workers' compensation within the definition of personal injury liability assignments (thus, making amounts received for agreeing to such liability assignment eligible for exclusion from gross income).
United States · United States Congress · 24 February 1995
Family Reinvestment Act of 1995 - Amends the Internal Revenue Code to increase the retirement savings deduction and the maximum individual retirement account contribution from $2,000 to $2,500. Raises income phase-out limits. Allows such a deduction for nonemployed spouses. Provides an inflation adjustment for retirement savings deductions. Excludes from gross income qualified distributions from certain retirement plans for first-time homebuyers and higher education expenses of the taxpayer, spouse, or child. Requires the repayment of such amounts with interest.
United States · United States Congress · 23 February 1995
Child Care Consolidation and Investment Act of 1995 - Amends the Child Care and Development Block Grant Act of 1990 to appropriate funds for FY 1996 through 2000 for child care services for eligible children through the awarding of grants to States. Directs the Secretary of Health and Human Services, if the amounts appropriated are insufficient to provide services to each child whose parent is required to undertake education, job training or search, or employment as a condition of eligibility under part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act, to pay sums necessary to ensure the implementation of State plans for child care and development for each child. Requires (currently, authorizes) child care and development block grants for States. Decreases from 25 to 20 percent the amount of funds to be reserved by States per fiscal year for activities to improve the quality of child care and to provide before- and after-school and early childhood development services. Directs States to reserve at least 50 percent of grant amounts for child care activities to support low-income working families. Requires State plans to assure that the availability of child care will be coordinated with AFDC requirements and to ensure that the parent of a dependent child is not required to undertake an education, job training or search, or employment requirement unless child care assistance is available. Sets forth a matching requirement for States with respect to amounts that exceed amounts received in FY 1995. Increases to 50 (currently, 20) percent the minimum percentage of reserved amounts States must use to carry out specified activities to improve the quality of child care. Directs the Secretary to establish a child care quality improvement incentive initiative to make funds available to States that demonstrate progress in the implementation of: (1) innovative teacher training programs; or (2) enhanced child care quality standards and licensing and monitoring procedures. Decreases from 75 to 50 percent the minimum percentage of reserved amounts States must use to carry out early child development and before- and after-school services. Requires amounts allotted to States under this Act to include the base amount such States received under the Child Care and Development Block Grant Act of 1990 and under AFDC provisions repealed under this Act. Repeals specified AFDC provisions and the Child Development Assistance Associate Scholarship Assistance Act of 1985.
United States · United States Congress · 23 February 1995
Amends Internal Revenue Code provisions relating to the income tax deduction for the health insurance costs of self-employed individuals to increase the allowable deduction from 25 percent to 100 percent (50 percent beginning in 1997 or 1998 and 75 percent beginning in 1999 or 2000). Declares amounts paid into tax-exempt multiple employer health plans as amounts paid for medical care insurance.
United States · United States Congress · 23 February 1995
Amends the Internal Revenue Code to repeal the requirement to include unemployment compensation in gross income.
United States · United States Congress · 23 February 1995
Amends the Internal Revenue Code to eliminate the commonality of interest or geographic location requirement for tax-exempt trust status for multiple employer health plans and fully-insured multiple employer welfare arrangements.
United States · United States Congress · 22 February 1995
Amends the Federal judicial code to provide that the official duty station of a retired judge shall be considered his or her home for purposes of certain Internal Revenue Code provisions and regulations. Specifies that reimbursed transportation and subsistence expenses that are paid to a retired judge recalled or designated and assigned to perform judicial duties and that are not allowable as a deduction after the application of such provision, shall be excludable from income under the Code whether or not the judge is required to remain away from his or her official duty station overnight in performing such duties, regardless of the duration of such duties.
United States · United States Congress · 22 February 1995
TABLE OF CONTENTS: Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing Federal Housing Trust Fund Act of 1995 - Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund - Amends the Internal Revenue Code to: (1) limit mortgage interest and property tax deductions for taxpayers whose adjusted gross income exceeds $75,000; (2) treat property acquired from a decedent as property acquired by gift for purposes of basis determinations; (3) phase in capital gains tax on inherited property; and (4) create in the Treasury the Housing Trust Fund (Fund). Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing - Directs the Secretary of Housing and Urban Development to make affordable housing grants from the Fund to qualifying entities. Requires such entities to carry out housing costs and housing supply assistance programs. Establishes a Housing Trust Fund Advisory Committee. Amends the Department of Housing and Urban Development Act to establish in the Department of Housing and Urban Development a position of Administrator of the Housing Trust Fund.
United States · United States Congress · 21 February 1995
National Language Act of 1995 - Makes English the official language of the U.S. Government. Requires the Government to conduct its official business in English, including publications, income tax forms, and informational materials. Provides that this Act shall not apply to the use of a language other than English for religious purposes, for training in foreign languages for international communication, to programs in schools designed to encourage students to learn foreign languages, or by persons over age 62. Permits the Government to provide interpreters for persons over age 62. Repeals the Bilingual Education Act. Terminates the Office of Bilingual Education and Minority Languages Affairs in the Department of Education. Sets forth provisions regarding the recapture of unexpended funds and transitional provisions. Repeals provisions of the Voting Rights Act of 1965 regarding bilingual election requirements and regarding congressional findings of voting discrimination against language minorities, prohibition of English-only elections, and other remedial measures. Amends the Immigration and Nationality Act to require that all public ceremonies in which the oath of allegiance is administered pursuant to such Act be conducted solely in English. Specifies that this Act shall not preempt the law of any State.
United States · United States Congress · 21 February 1995
Amends the Internal Revenue Code to restore the business meal expense deduction to 80 percent (currently 50 percent) for individuals subject to the hours of service limitations of the Department of Transportation.
United States · United States Congress · 21 February 1995
Sets forth the modified closed rule for the consideration of H.R. 889 (emergency supplemental appropriations and rescissions with respect to the Department of Defense).
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Provisions Relating to the Earned Income Credit Title II: Provisions Relating to International Taxation Title III: Additional Empowerment Zones Tax Compliance Act of 1995 - Title I: Provisions Relating to the Earned Income Credit - Amends the Internal Revenue Code to deny the earned income tax credit to individuals without a social security number that is valid for employment purposes. (Sec. 102) Denies such credit to individuals whose interest and dividends includible in gross income exceed $2,500. Title II: Provisions Relating to International Taxation - Provides that if a U.S. citizen relinquishes citizenship, all property held by such citizen at the time immediately before relinquishment shall be treated as sold at such time for its fair market value and any gain or loss shall be subject to U.S. income tax. Excludes $600,000 in gain from taxation. Excepts U.S. real property interests and interest in certain retirement plans. Allows the deferral of the tax on expatriation with respect to interests in closely-held businesses. (Sec. 202) Revises provisions governing information reporting on foreign trusts. Includes as reportable events a domestic trust becoming a foreign trust, the death of a U.S. citizen or resident who is a grantor of a foreign trust, and the residency starting date of a grantor of a foreign trust having one or more U.S. beneficiaries. Increases penalties for failure to file information returns with respect to certain foreign trusts. (Sec. 203) Modifies the rules relating to the taxation of foreign trusts having one or more U.S. beneficiaries to prevent abusive transactions with respect to transfers at death, sales to foreign trusts, pre-immigration trusts, and outbound trust migrations. (Sec. 204) Provides for a person to be treated as owning trust assets under the grantor trust rules only if that person is a U.S. citizen, U.S. resident, or domestic corporation. (Sec. 205) Authorizes the Secretary of the Treasury to recharacterize purported gifts by partnerships and foreign corporations to persons who are not partners or shareholders to prevent the avoidance of tax. (Sec. 206) Requires U.S. persons to report any gifts from foreign persons that exceed the value of $100,000. Establishes a penalty for failure to make such report. (Sec. 207) Modifies the rules regarding the rate of interest on accumulated distributions of foreign nongrantor trusts to make such rate correspond to the interest rate on underpayment of tax. Authorizes the Secretary to prescribe regulations to prevent abusive transactions. Provides for the taxation of the use of foreign trust property (valued at more than $2,500) by a trust participant as distributed income. (Sec. 208) Provides for the treatment as a domestic estate or trust: (1) one which a U.S. court is able to exercise primary supervision over the administration of; and (2) in the case of a trust, one in which one or more U.S. fiduciaries have the authority to control all substantial trust decisions. Title III: Additional Empowerment Zones - Authorizes the establishment of two additional urban empowerment zones. Increases the aggregate population of such zones that are eligible for such designation.
United States · United States Congress · 16 February 1995
Northern Border States Council Act - Establishes the Northern Border States-Canada Trade Council. Sets forth the duties of the Council, including: (1) advising the President, the Congress, the United States Trade Representative, the Secretary of Commerce, and other appropriate Federal and State officials with respect to the administration of U.S.-Canada trade policies, taxation of trade in goods and services, and customs and immigration matters; (2) monitoring trade issues and disputes that involve one of the Council-member States and either the Canadian Government or one of Canada's provinces; and (3) making recommendations with respect to such disputes. Authorizes appropriations.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Tax Incentives for Oil and Gas Production Subtitle A: Production Credit Subtitle B: Modifications to Percentage Depletion Subtitle C: Other Provisions Title II: Regulatory Reform Subtitle A: Oil Pollution Act Amendments Subtitle B: Oil and Gas Royalties Subtitle C: Private Property Rights Subtitle D: Risk Assessments Title III: Repeal of Limitations on Exports Domestic Oil and Gas Production and Preservation Act - Title I: Tax Incentives for Oil and Gas Production - Subtitle A: Production Credit - Amends the Internal Revenue Code to allow a business tax credit for producing crude oil and natural gas from new wells and marginal wells. Provides: (1) a formula for reducing such credit in years in which oil and gas prices increase; and (2) an inflation adjustment for such formula. Allows such credit against the regular and minimum tax. Subtitle B: Modifications to Percentage Depletion - Repeals the net income limitation on percentage depletion for oil and gas properties. (Sec. 112) Makes all marginal production of domestic crude oil or domestic natural gas eligible for percentage depletion. (Sec. 114) Revises the percentage depletion rate for such marginal production. Subtitle C: Other Provisions - Allows the election to treat geological and geophysical expenses incurred in connection with the exploration for, or development of, domestic oil or gas as expenses which are not chargeable to capital account. (Sec. 122) Makes the enhanced oil recovery credit applicable to secondary recovery methods. Allows such credit against the minimum tax. (Sec. 123) Allows the election of an optional five-year writeoff of intangible drilling costs for minimum tax purposes. Title II: Regulatory Reform - Subtitle A: Oil Pollution Act Amendments - Amends the Oil Pollution Act of 1990 to revise general financial responsibility requirements for offshore facilities. Requires responsible parties (except as provided in provisions regarding deepwater ports) to maintain financial responsibility as described by this Act with respect to offshore facilities seaward of the U.S. coastline that are used for drilling for, producing, or processing oil or that have the capacity to transport, store, transfer, or handle more than 1,000 barrels of oil at any one time. Requires the financial responsibility of an offshore facility to be $35 million, unless the President determines that a greater amount (not to exceed $150 million) is necessary based on an assessment of the risk posed by such facility. Subtitle B: Oil and Gas Royalties - Establishes a six-year statute of limitations on actions commenced by the United States for recovery of royalties due under an oil and gas lease on Federal lands unless a lessee has made a false or fraudulent statement with the intent to evade the royalties due. Subtitle C: Private Property Rights - Private Property Owners Bill of Rights - Provides for the protection of private property rights. (Sec. 235) Prohibits an agency head from entering privately owned property to collect information regarding it without the owner's written consent and specified notices. (Sec. 236) Sets forth conditions under which an agency head may use the data collected from privately owned property to implement or enforce any applicable provisions of law. (Sec. 237) Amends the Federal Water Pollution Control Act to grant a right to an administrative appeal of wetlands decisions. (Sec. 238) Amends the Endangered Species Act of 1973 to grant owners or their authorized representatives a right to an administrative appeal with regard to certain actions under that Act. (Sec. 239) Provides compensation for the taking of private property. (Sec. 240) Amends the Endangered Species Act of 1973 to provide for private property owner participation in cooperative agreements. Subtitle D: Risk Assessments - Requires each agency head to prepare a risk assessment, according to specified principles distinguishing scientific findings and best estimates of risk from other considerations, for each major rule relating to human health, safety, and natural resources. Requires the President, within one year after enactment of this Act, to issue a final regulation implementing such risk assessment and characterization principles. Provides for petitions for review of major rule risk assessments. Sets forth agency head decisional criteria and regulatory priorities. Directs the President to develop a systematic program for peer review of work products. Title III: Repeal of Limitations on Exports - Amends the Export Administration Act of 1979, the Mineral Lands Leasing Act, the Energy Policy and Conservation Act, and the Outer Continental Shelf Lands Act to repeal limitations on the export of domestically produced crude oil. (Sec. 301) Declares that the President may not prohibit or curtail the export of domestically produced crude oil other than crude oil produced from the naval petroleum reserves.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Production Credit Title II: Modifications To Percentage Depletion Title III: Other Provisions Domestic Oil and Gas Production Tax Incentive Act - Title I: Production Credit - Amends the Internal Revenue Code to allow a business tax credit for producing crude oil and natural gas from new wells and marginal wells. Provides: (1) a formula for reducing such credit in years in which oil and gas prices increase; and (2) an inflation adjustment for such formula. Allows such credit against the regular and minimum tax. Title II: Modifications to Percentage Depletion - Repeals the net income limitation on percentage depletion for oil and gas properties. Makes all marginal production of domestic crude oil or domestic natural gas eligible for percentage depletion. Revises the percentage depletion rate for such marginal production. Title III: Other Provisions - Allows the election to treat geological and geophysical expenses incurred in connection with the exploration for, or development of, domestic oil or gas as expenses which are not chargeable to capital account. Makes the enhanced oil recovery credit applicable to secondary recovery methods. Allows such credit against the minimum tax. Allows the election of an optional five-year writeoff of intangible drilling costs for minimum tax purposes.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Middle Class Tax Relief Title II: Provisions Relating To Individual Retirement Plans Subtitle A: Retirement Savings Incentives Subtitle B: Penalty-Free Distributions Middle-Class Bill of Rights Tax Relief Act of 1995 - Title I: Middle Class Tax Relief - Amends the Internal Revenue Code to allow individuals a tax credit of $300 per eligible child under the age of 13 years. Increases such credit to $500 per eligible child after December 31, 1998. Reduces such credit for incomes of $60,000 or more. Provides an inflation adjustment for such amounts beginning in 1999. (Sec. 102) Allows individuals a tax deduction for the qualified higher education expenses of the taxpayer and the taxpayer's spouse and dependents. Limits such deduction to $10,000 ($5,000 for years 1996, 1997, and 1998). Reduces such limitation for modified adjusted gross incomes of $70,000 or more ($100,000 for a joint return). Allows such deduction in computing adjusted gross income. Title II: Provisions Relating to Individual Retirement Plans - Subtitle A: Retirement Savings Incentives - Part I: IRA Deduction - Increases the income limitations on retirement savings deductions and provides a cost-of-living adjustment after 1994 for such limitations. (Sec. 202) Provides a cost-of-living adjustment for deductible retirement amounts after 1995. (Sec. 203) Coordinates the limit on such deduction with the elective deferral limit under other pension provisions. Part II: Nondeductible Tax-Free IRAs - Establishes special individual retirement accounts that are nondeductible. Makes such accounts nontaxable if earnings on contributions are held for at least five years. Applies the early withdrawal penalty to distributions made before the end of the five-year period. Subtitle B: Penalty-Free Distributions - Allows distributions from certain retirement plans without penalty to purchase first homes, pay higher education expenses and financially devastating medical expenses (including qualified long-term care services), and assist certain unemployed individuals. (Sec. 222) Requires contributions to such plans to be held for at least five years prior to such distributions.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code with respect to the corporate income tax exclusion of contributions to the capital of the taxpayer. Includes as a qualifying contribution any amount of money or property received by a regulated public utility which provides water or sewage disposal services that: (1) is a contribution in aid of construction; (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as service charges for starting or stopping services. Determines the depreciation deduction for such property by using the straight line method and provides for a 25-year recovery period.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code to restore the business meal expense deduction to 80 percent (currently 50 percent) for individuals subject to the hours of service limitations of the Department of Transportation.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Time-Limited Transitional Assistance Title II: Make Work Pay Title III: The Work First Program Title IV: Family Responsibility and Improved Child Support Enforcement Title V: Teen Pregnancy and Family Stability Title VI: Program Simplification Title VII: Financing Title VIII: SSI Reform Title IX: Effective Date Individual Responsibility Act of 1995 - Title I: Time-Limited Transitional Assistance - Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act (SSA) to: (1) require States opting to have work first programs to make ineligible for AFDC any family with a member who has participated in such work program, generally, for two years (and so is prohibited from further participation), while preserving the eligibility of such families for Medicaid; (2) condition eligibility for AFDC on participation in job search activities except during unsubsidized full-time private sector employment; and (3) direct the Secretary of Health and Human Service (Secretary) to establish a database of work first and community service programs participants for use by States opting to have work first programs. Title II: Make Work Pay - Amends SSA titles XIX (Medicaid) and IV part A (AFDC), as well as the Internal Revenue Code (IRC) and other specified Federal law, to make various specified changes with regard to certain program aspects, among them: (1) extended Medicaid enrollment for former AFDC recipients; (2) increased AFDC earned income disregards; (3) limited AFDC income and resource disregards of savings for education, first time home purchase, or microenterprise initiatives; (4) child care, including replacement of current Federal child care programs with State-administered block grant programs for child care services, as well as child care for work first program participants; and (5) refundable tax credits for dependent care and other expenses connected with gaining employment in order to enable AFDC recipients to become self-sufficient. Title III: The Work First Program - Amends SSA title IV to replace the current Job Opportunities and Basic Skills Training Program under part F with a new Work First Program that allows participating States to establish one of two types of work programs, with one type similar to the programs operated by Riverside County, California, and the State of Oregon. (Sec. 301) Adds a new part G under which States establishing a work first program have the option to establish community service programs with requirements for securing unsubsidized full-time employment in the private sector. Requires a work supplementation component under such programs that provides for subsidized private sector or State or local government jobs. Requires States to provide program participants with the necessary case management services to ensure integrated benefits and services provided under such programs. Expresses the sense of the Congress that: (1) States should target individuals who have not attained 25 years of age for participation in work first programs; and (2) the Secretary and the States should consider the needs of rural areas in designing State plans under SSA title IV parts F and G. Title IV: Family Responsibility And Improved Child Support Enforcement - Amends SSA title IV parts A and D (Child Support and Establishment of Paternity) with regard to: (1) AFDC recipient cooperation in establishing paternity of out-of-wedlock children; (2) various State and Federal locate services, including the Federal Parent Locator Service (FPLS) (which, along with the databases accessed by it, is expanded to form a national network based on comprehensive statewide child support enforcement systems); (3) private access to locate and child support enforcement services; (4) availability of parenting social services for new fathers; (5) the $50 child support disregard (which is eliminated); (6) Federal matching payments and State performance-based incentives and penalties; and (7) State law on paternity establishment. (Sec. 401) Expresses the sense of the Congress that: (1) certain actions pursuant to a child support order, such as denial of visitation rights, should be treated as irrelevant in actions brought to enforce other provisions of the order; (2) the Secretary should investigate accessing Federal data banks not linked to FPLS which are more than marginally useful in handling locate requests; (3) the national network for handling such requests should be used to access State records only through the appropriate State agency; (4) social services should be provided in hospitals to women whose pregnancy results from rape or incest; and (5) States should develop programs like the State of Wisconsin's program for noncustodial parents unable to meet support obligations. (Sec. 421) Establishes the National Child Support Guidelines Commission to study, develop, and report to the President and the Congress a national child support guideline, if one proves advisable. (Sec. 422) Provides under State laws for expedited administrative and judicial procedures for establishing paternity and for establishing, modifying, and enforcing support obligations. (Sec. 431) Requires the Secretary of the Treasury to establish a system for enabling child support information to be obtained at the workplace via W-4 form reporting by employees. Amends IRC to require employers to: (1) deduct and withhold child support obligations from employee wages; (2) pay withholdings to the appropriate payee; and (3) include withheld obligations on the employee's W-2 form. Makes various other specified changes to SSA title IV part D and other applicable Federal laws involving: (1) State procedures for comparing information in the national registry of child support orders (NR) established under this title with information obtained from W-4 form reporting, and for imposing monetary penalties on employees who fail to report support obligations; (2) development of uniform withholding orders; (3) garnishment of certain Federal benefits and seizure of lottery winnings and other payouts to satisfy support arrearages; (4) State reporting of support obligations to credit bureaus; (5) liability of grandparents for financial support of children of their minor children; (6) distribution of child support payments through State child support enforcement agencies to former assistance recipients; (7) due process rights of the parties to child support cases; (8) use of social security numbers under State law for recording marriage licenses, divorce decrees, birth records, and child support and paternity orders; (9) interstate enforcement of child support orders; (10) State suspension of driver's and other types of licenses for nonpayment of support or failure to appear at child support proceedings; (11) treatment of support obligations under the bankruptcy code; (12) the mechanism for offsetting past-due support against income tax overpayments, with changes in the order of refund distributions; and (13) the treatment of assigned and non-assigned support arrearages. Title V: Teen Pregnancy and Family Stability - Amends SSA title IV part A with respect to Federal and State roles in reducing teenage pregnancy and promoting family stability, among other things by: (1) giving States the option to deny AFDC for additional children (except those born as a result of rape or incest) of AFDC families while preserving their eligibility for Medicaid; and (2) providing for unmarried minors who are pregnant or who have children to live under adult supervision in order to receive AFDC. (Sec. 503) Directs the Secretary of Education to establish a task force to reduce teenage pregnancy. (Sec. 508) Places restrictions on Federal housing benefits to minors who bear children out-of-wedlock. (Sec. 509) Give States the option of denying AFDC to minor parents. (Sec. 511) Expresses the sense of the Congress that: (1) children should be educated about the risks of early parenthood; (2) reproductive family planning and education should be made available to potential parents; and (3) States should use SSA title XX (Block Grants to States for Social Services) funds to provide comprehensive services to high-risk youth and work with schools for early identification and referral of such children. Title VI: Program Simplification - Amends SSA titles IV part A and XI, as well as the Food Stamp Act of 1977, among other things to give States increased flexibility in providing AFDC benefits (including restoring those wrongfully terminated) through, among other means, use of electronic benefit transfers, quicker action on waiver requests, and coordination with food stamp rules. (Sec. 631) Expresses the support of the Congress for certain efforts by the Social Security Administration to reduce fraud and abuse in the Supplemental Security Income (SSI) Program under SSA title XVI. (Sec. 632) Requires the Commissioner of Social Security to study and report to the Congress on the feasibility of issuing a single counterfeit-resistant ID card to replace the current social security card and any health security card issued under health reform legislation. (Sec. 641) Sets forth additional AFDC changes involving: (1) State payment options under the program for dependent children of unemployed parents; (2) State determination of the needs of the dependent child and relative with whom the child is living; (3) "fill- the-gap" budgeting; (4) repeal of the requirement for supplemental payments in States paying less than their needs standards; (5) collection of AFDC overpayments from Federal tax refunds; and (6) disregard of student and nonrecurring lump-sum income. (Sec. 646) Amends SSA title XI to raise the limitations on payments under SSA titles I (Old Age Assistance), X (Aid to the Blind), XIV (Aid to the Permanently and Totally Disabled), and XVI (Supplemental Security Income)(SSI), and IV parts A and E (Foster Care and Adoption Assistance). Title VII: Financing - Amends the SSA, the IRC, and the Food Stamp Act of 1977 to make certain aliens ineligible for AFDC, SSI, Medicaid, and food stamps. (Sec. 711) Sets forth special rules concerning aliens and general public assistance. (Sec. 714) Authorizes grants to States to compensate for resident lawful aliens. Provides for allocation of such financial assistance to each State and the District of Columbia. Authorizes appropriations. (Sec. 721) Amends SSA title IV part A (AFDC) to revise: (1) the definition of "emergency assistance to needy families with children;" and (2) the limitation on State expenditures for such assistance. (Sec. 731) Amends the National School Lunch Act to: (1) modify family and group day care home reimbursement provisions under the child and adult care food program; and (2) provide grants to States for making grants to family and day care homes. (Sec. 741) Requires the Director of the Office of Management and Budget to make specified downward adjustments in discretionary spending limits under the Congressional Budget Act of 1974 for FY 1996 through 1998. (Sec. 751) Amends IRC to: (1) provide for the inclusion of certain Federal assistance in gross income, assistance such as AFDC and food stamps; (2) make payments of certain assistance reportable to the Internal Revenue Service; (3) deny the earned income tax credit to individuals not authorized to be employed in the United States; (4) phaseout the earned income credit for individuals having more than $2,500 of taxable interest and dividends; and (5) provide for the treatment of children receiving AFDC benefits under the earned income credit. Title VIII: SSI Reform - Amends SSA title XVI to limit the payment of SSI benefits for children by reason of disability. Title IX: Effective Date - Sets forth the effective date of this Act.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Tax Incentives for Oil and Gas Production Subtitle A: Production Credit Subtitle B: Modifications to Percentage Depletion Subtitle C: Other Provisions Title II: Regulatory Reform Subtitle A: Oil Pollution Act Amendments Subtitle B: Oil and Gas Royalties Subtitle C: Private Property Rights Subtitle D: Risk Assessments Title III: Repeal of Limitations on Exports Domestic Oil and Gas Production and Preservation Act - Title I: Tax Incentives for Oil and Gas Production - Subtitle A: Production Credit - Amends the Internal Revenue Code to allow a business tax credit for producing crude oil and natural gas from new wells and marginal wells. Provides: (1) a formula for reducing such credit in years in which oil and gas prices increase; and (2) an inflation adjustment for such formula. Allows such credit against the regular and minimum tax. Subtitle B: Modifications to Percentage Depletion - Repeals the net income limitation on percentage depletion for oil and gas properties. (Sec. 112) Makes all marginal production of domestic crude oil or domestic natural gas eligible for percentage depletion. (Sec. 114) Revises the percentage depletion rate for such marginal production. Subtitle C: Other Provisions - Allows the election to treat geological and geophysical expenses incurred in connection with the exploration for, or development of, domestic oil or gas as expenses which are not chargeable to capital account. (Sec. 122) Makes the enhanced oil recovery credit applicable to secondary recovery methods. Allows such credit against the minimum tax. (Sec. 123) Allows the election of an optional five-year writeoff of intangible drilling costs for minimum tax purposes. Title II: Regulatory Reform - Subtitle A: Oil Pollution Act Amendments - Amends the Oil Pollution Act of 1990 to revise general financial responsibility requirements for offshore facilities. Requires responsible parties (except as provided in provisions regarding deepwater ports) to maintain financial responsibility as described by this Act with respect to offshore facilities seaward of the U.S. coastline that are used for drilling for, producing, or processing oil or that have the capacity to transport, store, transfer, or handle more than 1,000 barrels of oil at any one time. Requires the financial responsibility of an offshore facility to be $35 million, unless the President determines that a greater amount (not to exceed $150 million) is necessary based on an assessment of the risk posed by such facility. Subtitle B: Oil and Gas Royalties - Establishes a six-year statute of limitations on actions commenced by the United States for recovery of royalties due under an oil and gas lease on Federal lands unless a lessee has made a false or fraudulent statement with the intent to evade the royalties due. Subtitle C: Private Property Rights - Private Property Owners Bill of Rights - Provides for the protection of private property rights. (Sec. 235) Prohibits an agency head from entering privately owned property to collect information regarding it without the owner's written consent and specified notices. (Sec. 236) Sets forth conditions under which an agency head may use the data collected from privately owned property to implement or enforce any applicable provisions of law. (Sec. 237) Amends the Federal Water Pollution Control Act to grant a right to an administrative appeal of wetlands decisions. (Sec. 238) Amends the Endangered Species Act of 1973 to grant owners or their authorized representatives a right to an administrative appeal with regard to certain actions under that Act. (Sec. 239) Provides compensation for the taking of private property. (Sec. 240) Amends the Endangered Species Act of 1973 to provide for private property owner participation in cooperative agreements. Subtitle D: Risk Assessments - Requires each agency head to prepare a risk assessment, according to specified principles distinguishing scientific findings and best estimates of risk from other considerations, for each major rule relating to human health, safety, and natural resources. Requires the President, within one year after enactment of this Act, to issue a final regulation implementing such risk assessment and characterization principles. Provides for petitions for review of major rule risk assessments. Sets forth agency head decisional criteria and regulatory priorities. Directs the President to develop a systematic program for peer review of work products. Title III: Repeal of Limitations on Exports - Amends the Export Administration Act of 1979, the Mineral Lands Leasing Act, the Energy Policy and Conservation Act, and the Outer Continental Shelf Lands Act to repeal limitations on the export of domestically produced crude oil. Declares that the President may not prohibit or curtail the export of domestically produced crude oil other than crude oil produced from the naval petroleum reserves.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Middle Class Tax Relief Title II: Provisions Relating to Individual Retirement Plans Subtitle A: Retirement Savings Incentives Subtitle B: Penalty-Free Distributions Middle-Class Bill of Rights Tax Relief Act of 1995 - Title I: Middle Class Tax Relief - Amends the Internal Revenue Code to allow individuals a tax credit of $300 per eligible child under the age of 13 years. Increases such credit to $500 per eligible child after December 31, 1998. Reduces such credit for incomes of $60,000 or more. Provides an inflation adjustment for such amounts beginning in 1999. (Sec. 102) Allows individuals a tax deduction for the qualified higher education expenses of the taxpayer and the taxpayer's spouse and dependents. Limits such deduction to $10,000 ($5,000 for years 1996, 1997, and 1998). Reduces such limitation for modified adjusted gross incomes of $70,000 or more ($100,000 for a joint return). Allows such deduction in computing adjusted gross income. Title II: Provisions Relating to Individual Retirement Plans - Subtitle A: Retirement Savings Incentives - Part I: IRA Deduction - Increases the income limitations on retirement savings deductions and provides a cost-of-living adjustment after 1994 for such limitations. (Sec. 202) Provides a cost-of-living adjustment for deductible retirement amounts after 1995. (Sec. 203) Coordinates the limit on such deduction with the elective deferral limit under other pension provisions. Part II: Nondeductible Tax-Free IRAs - Establishes special individual retirement accounts that are nondeductible. Makes such accounts nontaxable if earnings on contributions are held for at least five years. Applies the early withdrawal penalty to distributions made before the end of the five-year period. Subtitle B: Penalty-Free Distributions - Allows distributions from certain retirement plans without penalty to purchase first homes, pay higher education expenses and financially devastating medical expenses (including qualified long-term care services), and assist certain unemployed individuals. (Sec. 222) Requires contributions to such plans to be held for at least five years prior to such distributions.
United States · United States Congress · 16 February 1995
Trident II (D-5) Missile Production Termination Act - Prohibits funds appropriated to the Department of Defense for fiscal years after 1995 from being obligated or expended for production of additional Trident II (D-5) missiles. Allows amounts appropriated to the Department to be expended for such missile only to complete production of those missiles commenced with funds appropriated before FY 1996.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Production Credit Title II: Modifications To Percentage Depletion Title III: Other Provisions Domestic Oil and Gas Production Tax Incentive Act - Title I: Production Credit - Amends the Internal Revenue Code to allow a business tax credit for producing crude oil and natural gas from new wells and marginal wells. Provides: (1) a formula for reducing such credit in years in which oil and gas prices increase; and (2) an inflation adjustment for such formula. Allows such credit against the regular and minimum tax. Title II: Modifications to Percentage Depletion - Repeals the net income limitation on percentage depletion for oil and gas properties. Makes all marginal production of domestic crude oil or domestic natural gas eligible for percentage depletion. Revises the percentage depletion rate for such marginal production. Title III: Other Provisions - Allows the election to treat geological and geophysical expenses incurred in connection with the exploration for, or development of, domestic oil or gas as expenses which are not chargeable to capital account. Makes the enhanced oil recovery credit applicable to secondary recovery methods. Allows such credit against the minimum tax. Allows the election of an optional five-year writeoff of intangible drilling costs for minimum tax purposes.
United States · United States Congress · 16 February 1995
TABLE OF CONTENTS: Title I: Provisions Relating To the Earned Income Credit Title II: Provisions Relating To International Taxation Title III: Additional Empowerment Zones Tax Compliance Act of 1995 - Title I: Provisions Relating to the Earned Income Credit - Amends the Internal Revenue Code to deny the earned income tax credit to individuals without a social security number that is valid for employment purposes. (Sec. 102) Denies such credit to individuals whose interest and dividends includible in gross income exceeds $2,500. Title II: Provisions Relating to International Taxation - Provides that if a U.S. citizen relinquishes citizenship, all property held by such citizen at the time immediately before relinquishment shall be treated as sold at such time for its fair market value and any gain or loss shall be subject to U.S. income tax. Excludes $600,000 in gain from taxation. Excepts U.S. real property interests and interest in certain retirement plans. Allows the deferral of the tax on expatriation with respect to interests in closely-held businesses. (Sec. 202) Revises provisions governing information reporting on foreign trusts. Includes as reportable events a domestic trust becoming a foreign trust, the death of a citizen or U.S. resident who is a grantor of a foreign trust, and the residency starting date of a grantor of a foreign trust having one or more U.S. beneficiaries. Increases penalties for failure to file information returns with respect to certain foreign trusts. (Sec. 203) Modifies the rules relating to the taxation of foreign trusts having one or more U.S. beneficiaries to prevent abusive transactions with respect to transfers at death, sales to foreign trusts, pre-immigration trusts, and outbound trust migrations. (Sec. 204) Provides for a person to be treated as owning trust assets under the grantor trust rules only if that person is a U.S. citizen, U.S. resident, or domestic corporation. (Sec. 205) Authorizes the Secretary of the Treasury to recharacterize purported gifts by partnerships and foreign corporations to persons who are not partners or shareholders to prevent the avoidance of tax. (Sec. 206) Requires U.S. persons to report any gifts from foreign persons that exceed the value of $100,000. Establishes a penalty for failure to make such report. (Sec. 207) Modifies the rules regarding the rate of interest on accumulated distributions of foreign nongrantor trusts to make such rate correspond to the interest rate on underpayment of tax. Authorizes the Secretary to prescribe regulations to prevent abusive transactions. Provides for the taxation of the use of foreign trust property (valued at more than $2,500) by a trust participant as distributed income. (Sec. 208) Provides for the treatment as a domestic estate or trust one that: (1) a U.S. court is able to exercise primary supervision over its administration; and (2) in the case of a trust, one or more U.S. fiduciaries have the authority to control all substantial trust decisions. Title III: Additional Empowerment Zones - Authorizes the establishment of two additional urban empowerment zones. Increases the aggregate population of such zones that are eligible for such designation.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code to provide a special one-year period for claiming an income tax credit or refund based on retroactive determinations of entitlement to military disability benefits.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code to increase from 50 percent to 100 percent the deduction for business meal and entertainment expenses. Repeals the limitation on the deduction of travel expenses of a spouse, dependent, or others accompanying the taxpayer on business.
United States · United States Congress · 16 February 1995
Amends the Internal Revenue Code to exclude from gross income any veterans' allowance or benefit administered by the Secretary of Veterans Affairs.
United States · United States Congress · 15 February 1995
TABLE OF CONTENTS: Title I: Tax Treatment of Long-Term Care Insurance Title II: Standards for Long-Term Care Insurance Title III: Incentives to Encourage the Purchase of Private Insurance Title IV: Effective Date Private Long-Term Care Family Protection Act of 1995 - Title I: Tax Treatment of Long-Term Care Insurance - Amends the Internal Revenue Code to include amounts paid for qualified long-term care services and long-term care insurance (as defined in this Act) as medical expenses deductible from gross income. (Sec. 102) Provides for the treatment of qualified long-term care insurance or plans as accident and health insurance or plans. Excludes from gross income a specified amount of benefits provided under a qualified long-term care insurance contract and provides an inflation adjustment. Provides rules for coverage provided by a rider on a life insurance contract. (Sec. 103) Makes continuation coverage requirements inapplicable to qualified plans. Permits long-term care insurance coverage under cafeteria plans. (Sec. 104) Requires insurance companies, in the case of long-term care insurance policies, to use a one-year full preliminary term reserve method when computing income. (Sec. 105) Excludes from gross income as a death benefit any amount distributed to an individual under a life insurance contract of an insured who is terminally ill. (Sec. 106) Allows insurance companies to issue accelerated death benefit riders on life insurance contracts. Title II: Standards for Long-Term Care Insurance - Requires the Congress to appoint a National Long-Term Care Insurance Advisory Council. (Sec. 202) Imposes an excise tax on the issuer of any qualified long-term care insurance policy for failure to meet specified model regulation and disclosure requirements. (Sec. 204) Requires the Advisory Council to promulgate standards for the use of uniform language and definitions in long-term care insurance policies. Allows variations to account for differences among States in licensing practices. Title III: Incentives to Encourage the Purchase of Private Insurance - Directs the Secretary of Health and Human Services to establish a program of public education regarding catastrophic long-term care costs and the benefits of long-term care insurance coverage. (Sec. 302) Amends title XIX (Medicaid) of the Social Security Act to provide for the disregard, in the case of recipients of long-term care insurance benefits, of certain assets and resources for purposes of the Medicaid estate recovery provisions. (Sec. 303) Excludes from gross income distributions from an individual retirement account of an individual over age 59 and one-half if such if such distributions are used to purchase long-term care insurance for the individual or his or her spouse. Allows for distributions from qualified retirement plans without the imposition of a penalty if such distributions are for the purchase of long-term care insurance. Title IV: Effective Date - Sets forth the effective date of the tax provisions of this Act.
United States · United States Congress · 15 February 1995
TABLE OF CONTENTS: Title I: Bilateral Economic Assistance Title II: Security Assistance and Related Programs Title III: Trade, Investment and Export Promotion Title IV: International Financial Institutions Title V: Middle East Title VI: Europe and the New Independent States Title VII: Special Authorities Title VIII: Reports, Limitations, and General Provisions Chapter A: Reporting Requirements Chapter B: Limitations on Assistance Chapter C: Administrative Provisions International Partnership and Prosperity Act of 1995 - Title I: Bilateral Economic Assistance - Authorizes the President to provide bilateral economic assistance for the following purposes: (1) to promote economic reforms, conditions, and institutions which contribute to the transition to free markets and democracy; (2) to meet urgent disaster and humanitarian needs; and (3) to control transnational threats. Requires: (1) U.S. assistance policy and programs to take into consideration a nation's commitment to free market principles; and (2) U.S. assistance to contribute to the strengthening of institutions and organizations which expand political freedom and civil liberty. (Sec. 102) Authorizes the President to make voluntary contributions on a grant basis to international organizations and programs administered by such organizations. Prohibits funds under this section from being made available for programs for Iran, Iraq, Libya, Cuba, North Korea, or Burma. Directs the Secretary of State to report to specified congressional committees on: (1) the budgets and accounts of all international organizations receiving payments of funds under this section; and (2) the amount of funds expended by each international organization or program, including the amount contributed by the United States. Earmarks funding to carry out this section. (Sec. 103) Authorizes the President to provide, and earmarks funding for, assistance to alleviate human suffering caused by man- made and natural disasters. (Sec. 104) Earmarks funding for: (1) migration and refugee assistance, including a specified amount for refugees resettling in Israel; and (2) Peace Corps activities. (Sec. 106) Authorizes appropriations to carry out this title. Title II: Security Assistance and Related Programs - Permits U.S. security assistance to be provided only to: (1) enhance the military capabilities of a friendly nation to meet legitimate self- defense and security needs; (2) strengthen such capabilities to permit effective participation in collective security or peacekeeping activities; (3) support the efforts of a foreign government to combat mutual, transational threats; (4) strengthen civilian and military relations consistent with democratic principles and with emphasis on improving military standards of professionalism; (5) promote self- defense and defense cooperation with U.S. allies and friendly nations through the acquisition of U.S. defense articles and services; and (6) support the transition to democracy. (Sec. 202) Authorizes the President to furnish security assistance to any eligible and friendly country by: (1) acquiring from any source and providing any defense article or service; (2) assigning or detailing members of the armed forces and other personnel to perform noncombatant duties; or (3) transferring funds to meet obligations of the recipient for payments for sales under the Arms Export Control Act. (Sec. 203) Sets forth conditions for eligibility to receive defense articles, services, or related training. (Sec. 204) Authorizes the President to furnish military education and training to foreign military and civilian personnel. Earmarks funding for such training, including a specified amount for programs in Lithuania, Estonia, Latvia, Poland, Hungary, the Czech Republic, and Slovakia. (Sec. 205) Authorizes the President to furnish assistance to friendly countries and international organizations for peacekeeping operations in furtherance of U.S. national security interests. Permits such assistance to include reimbursement to the Department of Defense for expenses incurred for noncombatant activities under the United Nations Participation Act. Limits such reimbursement to $10 million. Prohibits the use of funds to train, equip, or support U.S. military personnel serving under United Nations command. Earmarks funding to carry out this section, including a specified amount to support a joint Baltic peacekeeping battalion. (Sec. 206) Authorizes the President to provide antiterrorism assistance to foreign governments. (Sec. 207) Permits the President to transfer excess defense articles to: (1) member countries of the North Atlantic Treaty Organization (NATO) which are eligible for U.S. security assistance and are integrated into NATO's military structure; (2) major non-NATO allies on the south and southeastern flank of NATO which are eligible for such assistance; (3) Latvia, Lithuania, Estonia, Poland, Hungary, the Czech Republic, and Slovakia; and (4) Latin American or Caribbean countries with democratic governments that are major drug producing or transit countries. Authorizes the transfer of nonlethal excess defense articles to other eligible countries, as necessary. Requires prior congressional notification for transfers of excess defense articles. (Sec. 208) Authorizes the President, after reporting to the Congress, to direct the drawdown of defense articles and services and military education and training for specified emergency or humanitarian purposes. Limits the aggregate value per fiscal year of articles, services, and training provided. (Sec. 209) Authorizes the President to assign members of the armed forces to a foreign country to: (1) provide equipment and services case management, training management, program monitoring, evaluation and planning of the host government's military capabilities and requirements, administrative support, and liaison functions; and (2) promote defense cooperation measures. (Sec. 210) Authorizes appropriations to carry out this title, earmarking an amount for the cost of direct and guaranteed loans under credit sales provisions of the Arms Export Control Act. Title III: Trade, Investment and Export Promotion - Requires U.S. assistance to be provided to expand American job, trade, and investment opportunities abroad. Provides that specified provisions of the Foreign Assistance Act of 1961 that deal with the Overseas Private Investment Corporation (OPIC) shall remain in effect. Consolidates the programs of the Trade and Development Agency with those of OPIC. Authorizes appropriations for: (1) the subsidy cost of OPIC direct loans, guarantees, and administrative expenses; and (2) such consolidation. Title IV: International Financial Institutions - Authorizes appropriations to fulfill obligations to international financial institutions. (Sec. 402) Provides that the Enterprise for the Americas Initiative (under the Foreign Assistance Act of 1961) shall remain in effect. Title V: Middle East - Authorizes appropriations for: (1) Israel and Egypt; and (2) fulfilling conditions of agreements between Israel and the Palestine Liberation Organization and Israel and Jordan. (Sec. 504) Deems a provision of the Foreign Assistance Act of 1961 relating to loan guarantees for Israel to remain in effect. Title VI: Europe and the New Independent States - Authorizes appropriations to carry out programs in Eastern Europe and the Baltics. (Sec. 603) Authorizes appropriations to carry out specified activities in the new independent states and earmarks specified amounts for Ukraine, Armenia, and Georgia and for joint law enforcement and training activities. (Sec. 604) Prohibits funds from being made available to Russia if the Russian Government directs or supports any action which violates the territorial integrity or national sovereignty of any other state. Exempts humanitarian assistance from such prohibition. Directs the Secretary to report annually to the Congress on any steps taken by a new independent state in violation of the territorial integrity or national sovereignty of any other state. (Sec. 605) Requires assistance programs under this title to be carried out exclusively on a bilateral basis. Title VII: Special Authorities - Authorizes the President to use funds made available under this Act to provide for unanticipated contingencies subject to fiscal year limitations and advance reporting requirements. (Sec. 702) Provides for the transfer of funds between accounts subject to certain limitations and advance congressional notification. (Sec. 703) Authorizes the President to waive certain restrictions in this Act or the Arms Export Control Act to authorize the furnishing of foreign assistance if it is in the national security interest. Limits amounts that may be made available. Title VIII: Reports, Limitations, and General Provisions - Chapter A: Reporting Requirements - Directs the Secretary to report annually to the Speaker of the House and specified congressional committees on human rights practices of countries that receive assistance under this Act or are members of the United Nations. (Sec. 802) Requires the Secretary to submit to the Senate Committee on Foreign Relations a report on international narcotics control that is the same as an existing report required under the Foreign Assistance Act of 1961. (Sec. 803) Sets forth provisions regarding: (1) congressional notification of program changes; and (2) an annual allocation report by the President regarding countries and organizations receiving assistance. Chapter B: Limitations on Assistance - Makes ineligible for foreign assistance any country: (1) that is a communist country; (2) that engages in gross violations of human rights; (3) that has expropriated property or nullified contracts with U.S. citizens and has not provided compensation or submitted the dispute to international arbitration within a specified time period; (4) whose elected head of government is deposed by military coup unless a democratically-elected government has taken office subsequent to the coup; (5) whose government provides support for international terrorism; (6) that is a major illicit drug-producing or transit country; or (7) that is more than one year in arrears to the U.S. Government on a payment of interest or principal on a loan made or credit extended under this Act, the Arms Export Control Act, or the Foreign Assistance Act of 1961. Exempts from such prohibition assistance that is in the national security interest, for alleviation of suffering resulting from a disaster, or for migration and refugee assistance, provided the President reports in advance to specified congressional committees. Sets forth provisions regarding the listing of communist and terrorist countries. Establishes additional restrictions on assistance under other specified Acts to human rights violators, terrorist countries, and major illicit drug-producing and transit countries. Chapter C: Administrative Provisions - Subchapter 1: Procurement - Permits funds to be made available for programs under this Act for procurement only in the United States, the recipient country, or developing countries. Lists conditions under which procurement may be made from other countries. (Sec. 822) Provides that ocean transportation between foreign countries of articles purchased with foreign currencies derived from funds made available under this Act, the Agricultural Trade Development and Assistance Act of 1954, or predecessor Acts and transfers of fresh fruit under this Act shall not be governed by the Merchant Marine Act, 1936 or any other law relating to the ocean transportation of commodities on U.S. flag vessels. Authorizes funding under this Act to be used to make grants to recipients or otherwise pay any differential that exists between U.S. and foreign flag vessel charter or freight rates. (Sec. 823) Sets forth provisions regarding the retention, transfer, or use of articles procured to carry out this Act. Subchapter 2: Inter-Agency Authorities - Sets forth provisions regarding the allocation and reimbursement of funds to Government agencies for providing foreign assistance. (Sec. 832) Authorizes Government agencies to furnish articles and services on an advance-of-funds or reimbursement basis to friendly countries and international and nongovernmental organizations. Subchapter 3: General Administration - Sets forth provisions regarding: (1) general assistance authorities, including conditions of assistance; (2) health and accident insurance for foreign employees of Government agencies or assistance programs and conditions under which alien participants in assistance programs may be admitted to the United States; (3) guarantees; (4) administrative uses of funds; and (5) termination expenses. Subchapter 4: Personnel - Sets forth provisions regarding: (1) employment of personnel and details of personnel to foreign governments and international organizations to carry out this Act; and (2) offices abroad. Subchapter 5: Definitions, Conforming Changes, Repeals - Sets forth definitions. Prohibits a U.S. court from declining on the ground of the Federal act of state doctrine to make a determination on the merits giving effect to the principles of international law in a case in which claim of title or other right to property is asserted by any party based upon a taking after January 1, 1959, by an act of that state in violation of the principles of international law. (Sec. 864) Deems references to: (1) the Administrator of the Agency for International Development (AID) and to the administrator of the agency primarily responsible for administering part I of this part to be references to the Secretary; (2) AID to be references to the Department of State; and (3) the Trade and Development Agency to be references to OPIC. (Sec. 865) Repeals the Foreign Assistance Act of 1961 (with the exception of a few provisions).
United States · United States Congress · 15 February 1995
Authorizes appropriations for fiscal years after September 30, 1994, for the Women's Rights National Historical Park in Seneca Falls and Waterloo, New York. Extends the Women's Rights National Historical Park Advisory Commission to the year 2005. Removes the Bloomer House property from the list of designated sites composing the Park.
United States · United States Congress · 15 February 1995
Amends the Internal Revenue Code with respect to the corporate income tax exclusion of contributions to the capital of the taxpayer. Includes as a qualifying contribution any amount of money or property received by a regulated public utility which provides water or sewage disposal services that: (1) is a contribution in aid of construction; (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as service charges for starting or stopping services. Determines the depreciation deduction for such property by using the straight line method and provides for a 25-year recovery period.
United States · United States Congress · 15 February 1995
Persons With Disabilities Trusts Tax Rate Restoration Act - Amends the Internal Revenue Code to repeal the 1993 rate increase on trusts for individuals who are disabled.
United States · United States Congress · 15 February 1995
TABLE OF CONTENTS: Title I: Research and Related Programs Title II: Construction Grants Title III: Standards and Enforcement Title IV: Permits and Licenses Title V: General Provisions Title VI: State Water Pollution Control Revolving Funds Title VII: Miscellaneous Provisions Title VIII: Wetlands Conservation and Management Clean Water Amendments of 1995 - Title I: Research and Related Programs - Amends the Federal Water Pollution Control Act (the Clean Water Act or CWA) to add national goal and policy provisions with respect to water quality programs. Directs the Administrator of the Environmental Protection Agency (EPA) to assess and document alternative regulatory approaches for protecting water quality and to develop regulations and guidance based upon the best obtainable information, including risk reduction benefits achievable by alternatives. (Sec. 102) Authorizes appropriations through FY 2000 for grants to States and interstate agencies for assistance in administering pollution control programs. Title II: Construction Grants - Removes limitations on the use of grants for the construction of publicly owned treatment works and authorizes the use of such grants for purposes for which grants may be made under nonpoint source management and groundwater quality programs. (Sec. 201) Requires grant applicants to demonstrate, along with other existing requirements, that wastewater reduction and other water use efficiency options have been studied and evaluated and, if cost-effective, implemented. (Sec. 202) Authorizes the Administrator to negotiate an annual budget with a State for purposes of administering a closeout of the State's construction grants program. (Sec. 205) Requires value engineering reviews to be conducted for any treatment works construction projected in excess of $25 million (currently, $10 million). Title III: Standards and Enforcement - Revises provisions concerning the use of innovative technology to comply with effluent reduction requirements to authorize the Administrator, if a facility achieves reductions with an innovative system that has the potential for reducing the release of pollutants to other media, to extend the date of compliance for such facility for up to three (currently, two) years if the system has industry-wide application potential. (Sec. 301) Prohibits discharges from, or affected by, remining operations from exceeding State water quality standards except where monitoring demonstrates that the receiving waters do not meet such standards prior to commencement of remining and where the water quality of the receiving stream is projected to be improved by remining. (Current law provides no exception.) (Sec. 302) Directs the Administrator to publish guidance for States on the development and adoption of water quality standards applicable to navigable waters that contain little or no water during low flow periods. Allows city, county, or local government employees or officials to be members of boards that approve discharge permit applications notwithstanding a prohibition on membership for persons who have received a significant portion of income from permit holders or applicants. (Sec. 303) Directs the Administrator or the Secretary responsible for a regulatory requirement, in developing standards, effluent limitations, or other regulatory requirements (other than permit or procedural requirements), to perform risk assessments consistent with guidelines issued by the Administrator. Requires such assessments to be performed in conjunction with any proposed regulation. Prohibits the issuance of any regulatory requirement or guidance where the social, environmental, and economic benefits are not reasonably related to anticipated costs. Provides that such guidelines shall require: (1) use of all relevant and available scientific data and information; (2) identification and discussion of assumptions and models used in the risk assessment as well as alternatives and sensitivity of results to such assumptions and models; (3) a quantitative estimate of the uncertainty inherent in the risk assessment; (4) a comparison of the risk with other risks to human health or the environment; (5) an estimate of the incremental risk avoided by the standard, effluent limitation, or requirement and the anticipated social, environmental, and economic benefits; and (6) an estimate of the social, environmental, and economic costs of complying with the standard, limitation, or requirement. Exempts standards, effluent limitations, or other regulatory requirements that are issued in final form within one year of this Act's enactment date from risk assessment requirements. (Sec. 304) Requires effluent standards for toxic pollutants to take into account the bioaccumulation potential of, and magnitude and risk of exposure to, a pollutant. Directs State Governors or water pollution control agencies to hold public hearings for purposes of reviewing, modifying, or adopting water quality standards at least once every five (currently, three years). Authorizes the Administrator to develop and issue guidance that States may use in: (1) issuing fish consumption advisories and scientific protocols for testing contamination levels of fish; (2) developing a monitoring program for contaminants in fish and shellfish; and (3) monitoring water quality at beaches and issuing health advisories with respect to beaches. (Sec. 305) Permits (currently, requires) a State to be joined as a party to a civil action brought by the United States under the CWA against a municipality located in such State. (Sec. 306) Revises provisions regarding water pollution control at Federal facilities to waive the sovereign immunity of the United States with respect to any requirement, administrative authority, or sanctions that may be imposed for violations. Provides that Federal employees may be subject to criminal sanctions, but exempts Federal agencies from such sanctions. Authorizes the Administrator to commence administrative enforcement actions against Federal agencies under this Act. Includes Federal agencies in the definition of "person." (Sec. 307) Authorizes appropriations for FY 1996 through 2000 for the clean lakes program. (Sec. 308) Revises the required elements of nonpoint source management programs and includes within such programs: (1) a schedule containing interim goals and milestones for making reasonable progress toward the attainment of standards; (2) a description of monitoring or assessment of program effectiveness; and (3) an identification of activities on Federal lands that are inconsistent with such programs. Grants States six (currently, three) months to submit revised programs in cases where modifications are required for approval. Requires the Administrator to prepare nonpoint source management programs for States that fail to do so or whose plans are not approved. Authorizes (currently, requires) the Administrator to make grants to States for preparing and implementing such management programs and preparing assessment reports. Increases the maximum Federal share of the cost of such programs to 75 (currently, 60) percent of the cost incurred by a State in preparing and implementing such reports and programs. Directs the Administrator to establish maximum and minimum grants for any fiscal year to promote equity between States and effective nonpoint source management. Sets forth limitations on the use of such grants. Requires the Administrator to study and report to the Congress on whether the allocation of funds for such grants reflects the costs of nonpoint source control measures for different nonpoint source categories and on options for better reflecting such costs in the allotment of funds. Increases the maximum amount of Federal assistance for grants to States for groundwater quality protection. Extends the authorization of appropriations for grants for assessment reports, nonpoint source management programs, and groundwater protection programs through FY 2000. Directs the Administrator to publish guidance to identify model management practices and measures which may be undertaken under such management programs. Requires compliance deadlines for nonpoint source management requirements to be postponed for one year for each fiscal year for which amounts appropriated to carry out grant programs for nonpoint source pollution and groundwater quality are less than the total amounts authorized to be appropriated. (Sec. 310) Authorizes States to submit watershed management programs to the Administrator for approval. Sets forth minimum requirements for such programs and lists activities that are eligible for assistance under the CWA. Permits States to adopt watershed management plans to be effective for up to ten years and to include planning and implementation schedules with milestones. Authorizes the issuance of pollutant discharge permits with limitations that do not meet applicable water quality standards if: (1) the receiving water is in a watershed with an approved plan; (2) the plan includes enforceable requirements under a State or local law for nonpoint source pollutant load reductions that will meet applicable water quality standards before the plan's expiration date; and (3) the point source does not have a history of significant noncompliance with its effluent limitations under a permit. Sets forth provisions regarding permit terms. Provides that if a State with an approved watershed management program makes a showing satisfactory to the Administrator that the State watershed and nonpoint source management programs will provide for the protection of coastal waters generally and contain other specified elements, such watershed program shall be deemed to be in compliance with the CWA and the Coastal Zone Act Reauthorization Amendments of 1990. Authorizes the Administrator to provide multipurpose grants to States with approved watershed management programs. Permits point source dischargers, as part of an approved watershed management program, to offset the impact of a pollutant discharge by entering into arrangements, including the payment of funds, for the implementation of source controls by another discharger through a pollution reduction credits trading program so long as safeguards are included to ensure compliance with technology based controls and to protect the quality of receiving waters. Directs the Administrator to allocate sums to carry out pollution reduction credits trading programs in selected areas of the country. Title IV: Permits and Licenses - Provides that, for purposes of provisions regarding pollutant discharge permits, waste treatment systems, including retention ponds or lagoons used to meet CWA requirements for concentrated animal feeding operations, are not waters of the United States. Authorizes an existing concentrated animal feeding operation that uses a natural topographic impoundment or structure, which is not hydrologically connected to any other U.S. waters, to continue to use the natural topographic feature for waste storage regardless of its size, capacity, or previous use. (Sec. 402) Revises stormwater discharge permitting provisions. Lists discharges composed entirely of stormwater for which permits are required under this section. Makes other such discharges subject to requirements for nonpoint source management programs. Establishes additional requirements for permits for municipal separate storm sewer systems, including that they: (1) require reasonable progress toward attainment of water quality standards; and (2) have additional requirements for the implementation of cost-effective controls for the control of discharges to attain or maintain such standards if they are renewed after this Act's enactment. Directs the Administrator to issue a consolidated permit for discharges from a storm sewer system owned by a municipality and the stormwater discharges from industrial sources owned by the same municipality. Authorizes the issuance of general or group permits for any discharges, other than those from municipal separate storm sewer systems, if the discharges are similar in nature and application of similar management measures will reduce pollution occurring from such discharges or if the Administrator finds that the issuance of general permits is appropriate. Prohibits the Administrator from requiring, as a permit condition for a discharge from a municipal separate storm sewer system, compliance with a numeric effluent limitation or an applicable water quality standard before December 31, 2009, except to implement management measures under regulations for municipal separate storm sewer systems. Sets forth requirements for regulations regarding permit application requirements for industrial and specified municipal stormwater discharges. Authorizes the Administrator to make grants to operators of municipal storm sewer systems for which permits are required for projects for the assessment of cost-effective controls. Extends compliance deadlines with respect to numeric effluent limitations or water quality standards required for specified municipal separate storm sewer systems if such grants total less than $20 million in any fiscal year. (Sec. 403) Requires each permit issued for a discharge from a combined storm and sanitary sewer to conform with the combined sewer overflow control policy signed by the Administrator on April 11, 1994. Authorizes the Administrator, notwithstanding specified compliance schedules and permit limitations, to issue a permit for discharges from such sewers that includes a schedule for compliance with a long-term control plan for a term of up to 15 years. Provides for extensions of such term, as appropriate. Modifies any consent decree or court order issued before this Act's enactment date by a district court that establishes any deadlines or timetables for the construction of treatment works for control of discharges from a municipal combined sewer system to make deadlines or timetables conform with this section's requirements. (Sec. 404) Requires the discharge permit program to provide that an owner or operator of a point source subject to a permit will not be required to remove or reduce the level of pollutants in a discharge if such pollutants are present in or caused by the intake waters for such source. (Sec. 405) Requires the Administrator to issue guidance on the beneficial use of sewage sludge. Title V: General Provisions - Directs the Administrator to involve State, tribal, and local governments in EPA decisionmaking, priority setting, policy and guidance development, and implementation under the CWA. (Sec. 502) Requires the President or head of any agency, in promulgating rules or establishing interpretations, guidelines, standards, or criteria for oil and grease under the CWA or the Oil Pollution Act of 1990, to: (1) differentiate animal fats and vegetable oils from other oils, including petroleum-based oils; and (2) consider differences in the physical, chemical, biological, or other properties and environmental effects of animal fats and vegetable oils from those other oils. (Sec. 503) Requires a CWA cost and needs estimate to be submitted quadrennially (currently, biennially) to the Congress. (Sec. 504) Reauthorizes the CWA through FY 2000. (Sec. 505) Directs the Administrator, prior to issuing any proposed or final regulation or other requirement pursuant to the CWA, to conduct: (1) an analysis of the direct and indirect costs for State and local governments to comply with the requirement in the five-year period following implementation; (2) an estimate of the amounts that will be authorized for providing Federal financial assistance for implementation of and compliance with the requirement for such period; (3) an estimate of the amounts that will be appropriated for such assistance for such period based on funding levels adopted as part of a concurrent resolution setting forth the congressional budget; (4) an assessment of the availability of other sources of funding for State and local governments to comply with such requirement; (5) an estimate of the amounts that will be authorized and appropriated for providing Federal assistance for the requirement for the fiscal year during which the requirement is to be implemented and the two preceding fiscal years; and (6) a certification that the amounts that will be appropriated exceed 90 percent of the costs for State and local governments to comply with the requirement. Requires the Administrator, if such certification is not made, to transmit to specified congressional committees a report explaining the reasons for not making such certification and the likely impacts of not adequately funding State and local governmental efforts to comply with the requirement. Title VI: State Water Pollution Control Revolving Funds - Authorizes State revolving funds (SRFs) to be used for water use efficiency measures whose principal purpose is improving or protecting water quality. (Sec. 602) Requires the Administrator to establish simplified procedures for small systems to obtain assistance from SRFs. (Sec. 603) Provides for an extended repayment period for loans made from SRFs to disadvantaged communities. Authorizes negative interest rates for such loans. Permits SRFs to be used to provide technical, planning, and other specified assistance to small systems. (Sec. 604) Authorizes and allocates appropriations for the SRF program through FY 2000. Title VII: Miscellaneous Provisions - Requires the Administrator to study and report to the Congress on future funding options for financing infrastructure projects under the CWA. Authorizes appropriations. Title VIII: Wetlands Conservation and Management - Comprehensive Wetlands Conservation and Management Act of 1995 - Prohibits, unless such activity is undertaken pursuant to a permit issued by the Secretary of the Army: (1) the discharge of dredged or fill material into U.S. waters; or (2) the draining, channelization, or excavation of wetlands. (Sec. 803) Requires the Secretary, upon receiving permit applications, to: (1) classify as Type A wetlands wetlands that are of critical significance to the long-term conservation of an ecosystem; (2) classify as Type B wetlands wetlands that provide habitat for a significant population of wildlife or provide other significant wetlands functions; and (3) classify as Type C wetlands wetlands that serve marginal functions but exist in such abundance that regulation of activities is not necessary to conserve wetlands values and functions, or are lands that do not serve significant wetlands functions. Permits owners of interests in Type A wetlands to seek compensation for the fair market value of such lands. Provides that title for such lands shall pass to the United States upon acceptance of an offer for compensation. Requires the Secretary to deny a permit authorizing activities in Type A wetlands unless: (1) such activities can be undertaken with minimal alteration or disturbance; (2) there are public interest concerns that require use of the lands for purposes other than conservation; or (3) the proposed use of the land will result in overall environmental benefits. Authorizes the Secretary to issue a permit for activities in Type B wetlands subject to conditions that ensure that the wetland ecosystem does not suffer loss or degradation. Imposes requirements for mitigation when such activities result in permanent wetland loss or degradation. Directs the Secretary to establish a mitigation banking program in each State to ensure compensation for loss and degradation of wetlands. Requires the primary objective of such programs to be to provide for the restoration, enhancement, or creation of ecologically significant wetlands on an ecosystem basis. Exempts specified activities from this Act's requirements. Prohibits more than 20 percent of any county, parish, or borough from being classified as Type A wetlands. Requires wetlands located on agricultural and associated nonagricultural lands to be delineated by the Secretary of Agriculture in accordance with the Food Security Act of 1985. Requires the Director of the U.S. Fish and Wildlife Service to undertake a project to identify and classify U.S. wetlands. Directs the Secretary to establish procedures pursuant to which: (1) landowners may appeal determinations of regulatory jurisdiction over a parcel of property, wetlands classifications with respect to property, or determinations that an activity is not regulated under a general permit; (2) any person may appeal a determination that a proposed activity is not exempt (non-exempt activities require permits); (3) permit applicants may appeal determinations to deny issuance of a permit or to impose a requirement under the permit; and (4) landowners or others required to restore or alter property may appeal an order to do so. Provides that persons who have filed appeals shall not be required to pay penalties or perform mitigation or restoration until the appeal has been decided. Authorizes civil actions and prescribes penalties for permit violations. Authorizes States to administer permit programs for activities covered by this Act, subject to the Secretary's approval. Directs the Secretary, in implementing responsibilities under the regulatory program, to balance the objective of conserving functioning wetlands with the objectives of ensuring continued economic growth, providing essential infrastructure, maintaining strong State and local tax bases, and protecting against the diminishment and value of private property. Requires the Secretary and the heads of Federal agencies to seek to minimize the effects of the regulatory program on the use and value of private property.
United States · United States Congress · 15 February 1995
TABLE OF CONTENTS: Title I: Microenterprise and Asset Development Title II: Demonstration Projects Microenterprise and Asset Development Act - Title I: Microenterprise and Asset Development - Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act (SSA) to exclude from AFDC eligibility determinations certain income and resources that are to be used for education, training, and employability purposes. (Sec. 101) Requires the Secretary of Health and Human Services to report to the Congress on a revision of the AFDC limit on automobiles in order to increase the employability of AFDC recipients. (Sec. 102) Provides for State agency exclusion from AFDC eligibility determinations of certain resources related to microenterprise initiatives by AFDC recipients towards self-sufficiency. Requires State agencies to ensure that caseworkers advise AFDC recipients of the option for microenterprises. Provides for the inclusion of microenterprise training and activities in the JOBS program under SSA title IV part F (Job Opportunities and Basic Skills Training Program). Title II: Demonstration Projects - Amends the Internal Revenue Code to allow a deduction for contributions made to an individual development account (IDA) by or on behalf of a qualified individual to pay qualified expenses of such individual. Limits such contributions to $2,000 per year. Defines qualified expenses as those for: (1) postsecondary educational expenses; (2) a first-home purchase; and (3) retirement. Allows such deduction in arriving at adjusted gross income. Declares that contributions to IDAs are not subject to the gift tax or the tax on prohibited transactions. (Sec. 203) Provides for the establishment of demonstration projects designed to determine: (1) the social, psychological, and economic effects of providing to individuals with limited means an opportunity to accumulate assets; and (2) the extent to which an asset-based welfare policy may be used to enable individuals with low income to achieve economic self-sufficiency. Requires each organization authorized to conduct a demonstration project to establish a Reserve Fund for use in a prescribed manner. Requires the Secretary to establish an oversight panel to: (1) develop guidelines for investment of Reserve Fund and IDA monies; (2) monitor project progress; and (3) make recommendations for projects not progressing adequately, and review their implementation. Makes an individual eligible for assistance under a demonstration project if such individual is a member of a household that meets: (1) the income test of not more than 200 percent of the poverty threshold; and (2) the net worth test of not more than $20,000. (Sec. 204) Requires the disregard by all means-tested Federal programs of funds in the IDAs of demonstration project participants.
United States · United States Congress · 15 February 1995
Energy Efficiency and Conservation Act of 1995 - Amends the Internal Revenue Code to allow a deduction for energy conservation expenditures by an electric or gas utility during a taxable year in connection with its trade or business, as long as the rates for the sale of such electricity or natural gas have been approved by the appropriate governing body.
United States · United States Congress · 15 February 1995
Home Office Deduction Act of 1995 - Amends the Internal Revenue Code to provide that a home office qualifies as the principal place of business if the office is: (1) the location where the taxpayer's essential administrative or management activities are conducted on a regular and systematic (and not incidental) basis by the taxpayer; and (2) necessary because the taxpayer has no other location for the performance of the administrative or management activities of the business. Treats the storage of product samples as inventory for deduction purposes.
United States · United States Congress · 15 February 1995
Small Business Assistance Act of 1995 - Amends the Internal Revenue Code to increase the dollar limitation on the cost of property which may be expensed by businesses as depreciable assets.
United States · United States Congress · 14 February 1995
Amends the Internal Revenue Code to provide that a qualified veteran, for purposes of eligibility for mortgage revenue bond financing, is one who meets applicable State law requirements. (Current law specifies deadlines to be met by such veterans.)
United States · United States Congress · 14 February 1995
Amends the Internal Revenue Code to allow a general business tax credit, in the case of defense contractors, for defense conversion employee retraining expenses.
United States · United States Congress · 14 February 1995
Amends the Internal Revenue Code to tax as beer hard apple cider containing not more than seven percent alcohol.
United States · United States Congress · 14 February 1995
TABLE OF CONTENTS: Title I: Tax Treatment of Long-Term Care Insurance Title II: Establishment of Federal Standards for Long-Term Care Insurance Title III: Deduction for Certain Expenses for Dependents with Alzheimer's Disease or Related Organic Brain Disorders Title IV: Dependent Care Credit Expanded and Made Refundable Title I: Tax Treatment of Long-Term Care Insurance - Amends the Internal Revenue Code to provide for the treatment of qualified long-term care insurance or plans as accident and health insurance or plans for purposes of insurance company taxation. (Sec. 102) Excludes from gross income benefits provided under a long-term care insurance contract. Includes in gross income employer-provided coverage for long-term care services. (Sec. 103) Allows a tax credit for a percentage of eligible long-term care premiums. (Sec. 104) Includes amounts paid for qualified long-term care services as medical expenses for individual itemized deductions. Includes any parent or grandparent as a dependent for purposes of such expenses. (Sec. 105) Requires long-term care insurance contracts to use a one-year full preliminary term tax reserve method. (Sec. 106) Excludes from gross income certain amounts withdrawn from individual retirement accounts and certain employer cash or deferred arrangements to pay long-term care premiums. (Sec. 107) Provides for the exclusion as a death benefit of any amount paid or advanced to an individual under a life insurance contract because such individual is terminally ill, chronically ill, or has been permanently confined to a qualified facility. (Sec. 108) Allows insurance companies to issue accelerated death benefit riders on life insurance contracts. (Sec. 109) Permits long-term care insurance contracts to be offered in cafeteria plans. Title II: Establishment of Federal Standards for Long-Term Care Insurance - Amends the Public Health Service Act to mandate the establishment of model Federal standards for long-term care insurance. Prohibits the offering of a long-term care insurance policy in a State unless the State has a regulatory program meeting the requirements of this Act or the policy has been certified by the Secretary of Health and Human Services. Authorizes grants to States for demonstration programs to improve enforcement of the standards. Authorizes appropriations. Imposes on agents selling long-term policies a duty of good faith and fair dealing. Prohibits twisting, high pressure tactics, and cold lead advertising. Mandates minimum financial standards, including income and asset criteria, for advising individuals considering the purchase of a long-term policy. Prohibits sales: (1) to an individual eligible for assistance under title XIX (Medicaid) of the Social Security Act; (2) of duplicate service policies; and (3) of policies that reduce, limit, or coordinate benefits on the basis of eligibility for other coverage or benefits. Provides for: (1) criminal and civil penalties; and (2) agent training and certification. Sets forth additional carrier responsibilities relating to refunding of premiums, mailing of policies, providing information on denials of claims, and reporting of information. Prohibits cancellation or nonrenewal of a long-term care policy except for nonpayment of premium or material misrepresentation. Sets forth continuation and conversion rights for group policies, regulating premiums for converted policies. Requires guaranteed issuance to an individual if the individual meets the minimum medical requirements of the policy. Mandates standards regarding upgraded benefits. Limits cancellation for nonpayment by an incapacitated individual. Requires: (1) subject to exceptions, uniform language and definitions, a uniform format, and at least one standard benefit package; and (2) disclosure of certain matters, including an outline of coverage. Mandates recommendations by the National Association of Insurance Commissioners (NAIC) regarding informing consumers on the long-term economic viability of long-term care insurance carriers. Limits certain conditions on benefits. Requires, if benefits are provided for home health care or community-based services, that certain minimum benefits be provided. Prohibits treating cognitive or mental impairments (including Alzheimer's disease and mental illness) differently from other medical conditions. Limits preexisting condition requirements. Requires: (1) each claimant to have a functional assessment by an individual or entity meeting NAIC qualifications and unconnected to the policy issuer; (2) inflation protection, unless rejected in writing by a policyholder; (3) disclosure of certain premium increases; and (4) nonforfeiture benefits. Prohibits a carrier from contesting a policy or claim based on fraud or misrepresentation unless notice is provided within a time period set by NAIC. Establishes the right of a purchaser to return a policy within a specified period. Defines "long-term care insurance policy," excluding: (1) any basic Medicare supplemental policies; (2) other insurance offered primarily to provide specified types of coverage; and (3) certain life insurance policies. Authorizes grants for programs to provide information, counseling, and assistance regarding the procurement of long-term insurance. Authorizes appropriations. Title III: Deduction for Certain Expenses for Dependents with Alzheimer's Disease or Related Organic Brain Disorders - Amends the Internal Revenue Code to allow an individual an income tax deduction for qualified home health care and adult day and respite care expenses with respect to a dependent who: (1) resides with the taxpayer; (2) suffers from Alzheimer's disease or a related organic brain disorder; and (3) is physically or mentally incapable of self-care. Title IV: Dependent Care Credit Expanded and Made Refundable - Repeals the Internal Revenue Code's nonrefundable income tax credit for employment-related dependent care expenses, replacing it with a corresponding refundable 50 percent credit, reduced (but not below 20 percent) as the taxpayer's adjusted gross income exceeds $15,000 (adjusted for inflation). Includes within the scope of the new credit up to $1,200 ($2,400 in the case of more than one qualifying individual) of respite care expenses incurred in the care of: (1) a dependent of the taxpayer who is at least 13 years old; or (2) a spouse or other dependent who is physically or mentally incapable of self-care.
United States · United States Congress · 14 February 1995
Amends the Internal Revenue Code to allow an individual an income tax deduction for qualified home health care and adult day and respite care expenses with respect to a dependent who: (1) resides with the taxpayer; (2) is a dependent of the taxpayer; and (3) suffers from Alzheimer's disease (or a related organic brain disorder) and is physically or mentally incapable of self-care.