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851 records in US in 1993
United States · United States Congress · 18 February 1993
Amends the Internal Revenue Code to allow a tax credit for a percentage of contributions to qualified cooperative research organizations for qualified cooperative research expenditures.
United States · United States Congress · 18 February 1993
Environmental Innovation Research Act of 1993 - Establishes an Office for the Development of Critical Environmental Technology in the Environmental Protection Agency (EPA). Requires the EPA Administrator, acting through the Office Director, to: (1) carry out a critical environmental technology research program; and (2) conduct an environmental innovation research program. Requires the heads of covered Federal agencies (agencies for which more than $50 million per fiscal year is made available for environmental research and development or cleanup) to establish research programs for the commercialization of critical environmental technology to: (1) further the progress of cleanup and pollution prevention activities; and (2) avoid future pollution and cleanup problems. Directs such agencies to set aside funding for such programs. Sets forth phases of such programs and authorizes agreements with private businesses to carry out such research. Requires the Office Director to compile an annotated list of critical environmental technologies. Establishes a Critical Environmental Technology Task Force to coordinate the distribution of critical environmental technology and data, review research proposals, and ensure complementary research efforts. Directs the heads of covered Federal agencies to report annually to the Director on funding agreements under the environmental technology program and the percentage of successful commercialization efforts in critical environmental technology. Requires the Administrator to promulgate guidelines for Federal environmental innovation research programs. Directs the Administrator to survey and monitor all phases of the research programs of covered agencies. Authorizes appropriations.
United States · United States Congress · 18 February 1993
Amends the Internal Revenue Code to allow a general business credit for fuels produced from offshore deep-water projects. Allows such credit to offset the minimum tax, with limitations.
United States · United States Congress · 18 February 1993
Indian Tribal Government Unemployment Compensation Act Amendments of 1993 - Amends the Internal Revenue Code to treat, for unemployment compensation tax purposes, employment by federally recognized tribal governments in the same manner as employment by State or local units of government or nonprofit organizations.
United States · United States Congress · 18 February 1993
Authorizes the Secretary of Defense, during each fiscal year, to make up to 10,000 Department of Defense personnel available to assist: (1) the Immigration and Naturalization Service in preventing the entry into the United States of terrorists, drug traffickers, and illegal aliens; and (2) the U.S. Customs Service in the inspection of cargo, vehicles, and aircraft at points of entry into the United States.
United States · United States Congress · 18 February 1993
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act and the Internal Revenue Code to increase the amount of remuneration State and local governments may pay certain election personnel without exceeding the threshold that would bring such personnel under social security coverage.
United States · United States Congress · 18 February 1993
Amends the Railroad Retirement Solvency Act of 1983 to make permanent the transfer to the Railroad Retirement Account of income tax revenues attributable to the taxation of tier II railroad retirement benefits.
United States · United States Congress · 18 February 1993
TABLE OF CONTENTS: Title I: Designation of Targeted Urban Areas Title II: Federal Income Tax Incentives Title III: Regulatory Flexibility Title IV: Establishment of Foreign-Trade Zones in Targeted Urban Areas Title V: Repeal of Title VII of the Housing and Community Development Act of 1987 Business and Urban Partnership Act - Title I: Designation of Targeted Urban Areas - Amends the Internal Revenue Code to provide for the designation of targeted urban areas by the Secretary of Housing and Urban Development. Requires such areas to be within the jurisdiction of a qualified city and to have a required course of action designed to reduce the various burdens borne by employers or employees in the area, including tax relief and regulatory belief. Requires the Secretary to report biennially to the Congress on the effects of targeted urban areas designations. Provides for the coordination of such designations with relocation assistance programs and environmental policy. Title II: Federal Income Tax Incentives - Amends the Internal Revenue Code to allow a refundable tax credit to area employers for 50 percent of the qualified expenses of: (1) employee accident or health plan coverage; (2) employee dependent care assistance; and (3) employee job training expenses. Allows employers to treat the cost of qualified area property as an expense which is not chargeable to capital account. Allows such cost as a deduction for the year in which the property is placed in service. Allows an individual a deduction for the amount paid for the purchase of targeted urban area stock. Imposes an interest charge if such stock is disposed of within five years of its purchase. Limits area stock in a corporation to $5 million. Requires the allocating commission of a targeted area to make allocations of credit amounts, expense treatment amounts, and area stock deduction amounts. Provides for determining limitations on such amounts. Allows targeted urban area incentives in determining the alternative minimum tax. Title III: Regulatory Flexibility - Revises the definition of "small entity" for purposes of the analysis of regulatory functions to include qualified business, government, and nonprofit enterprises operating within targeted urban areas. Provides for the waiver or modification of agency rules in targeted areas in order to further the job creation, community development, or economic revitalization objectives within such areas. Authorizes the Secretary to convene regional and local coordinating councils of appropriate agencies to assist State and local governments in achieving the required course of action. Title IV: Establishment of Foreign-Trade Zones in Targeted Urban Areas - Requires targeted areas to receive priority in the designation of foreign trade zones. Title V: Repeal of Title VII of the Housing and Community Development Act of 1987 - Repeals title VII (enterprise zone development) of the Housing and Community Development Act of 1987.
United States · United States Congress · 18 February 1993
Reforestation Tax Act of 1993 - Amends the Internal Revenue Code to provide taxpayers a partial inflation adjustment for the deduction from gross income for qualified timber gain. Allows such deduction in computing adjusted gross income. Excludes from conditions of the material participation rules, for purposes of the passive loss limitations, closely held timber activity if the aggregate hours devoted to management of the activity for any year is generally fewer than 100 hours. Increases the amount allowable as a deduction for amortization of reforestation expenditures and provides an inflation adjustment after calendar year 1994. Applies such inflation adjustment to the reforestation credit. Shortens the amortization period from 84 to 60 months.
United States · United States Congress · 18 February 1993
Directs the Secretary of Veterans Affairs to provide funding for offices of veterans affairs at institutions of higher education for educational assistance to veterans. Requires such institutions to apply for such payments and to agree to use the funds to enhance the functions of veterans education outreach programs during the proceeding academic year. Requires an office of veterans affairs to be maintained at each recipient institution to be responsible for veterans' certification, outreach, recruitment, and special education programs as well as other veterans services. Limits the per-veteran and per-institution payments for a fiscal year. Requires the coordination of such veterans' program with other Department programs. Earmarks funds for the program from amounts made available each year for the payment of veterans' readjustment benefits.
United States · United States Congress · 18 February 1993
TABLE OF CONTENTS: Title I: Balancing the Budget Title II: Technical and Conforming Amendments Balanced Budget Enforcement Act of 1993 - Title I: Balancing the Budget - Part A: Purposes - Repeals provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) with respect to: (1) emergency powers to eliminate deficits in excess of the maximum deficit amount; (2) budgetary treatment of social security trust funds; and (3) miscellaneous and related provisions. Declares the purpose of this Act to balance the budget by FY 1998 and each year thereafter. Part B: The Deficit Elimination Act of 1993 - Establishes deficit reduction targets for direct spending and receipts legislation for FY 1994 through 1998. Establishes discretionary funding limits in terms of new budget authority for FY 1994 through 1998. Requires, whenever appropriate, that adjustments to such limits be made to reflect: (1) changes in budget accounting concepts; (2) changes in inflation for each year and outyear (any of the four fiscal years that follow the budget year); (3) renewal/replacement multiyear subsidized housing contracts; (4) emergency requirements; (5) new limits for 1998 and thereafter; and (6) any law that raises excise taxes dedicated to a transportation trust fund. Provides that if at the start of the 1998 budget-year session the baseline assuming deficit reduction projects a deficit (or surplus) for that year, then the direct spending and receipts deficit reduction requirement for that year and the discretionary funding limit for that year shall each be changed by amounts that, when debt service effects are added, will produce a balanced budget. Provides for preventing deficits starting with FY 1999. Provides for the enactment of a spin-off law through congressional budget procedures or other means to balance the budget in 1998 or prevent deficits after 1998. Establishes a scorecard for the recording of the estimated increase or decrease in deficit reduction for the current year, the budget year, and each fiscal year through 1998 due to enactment (after August 15, 1992) of any law, or the imposition of any sequestration, or the change in the baseline which relates to certain expiring provisions of law and to veterans' compensation, affecting the level of direct spending or the level of receipts. Requires the creation of a new scorecard for FY 1999 and thereafter for the estimated increase or decrease in the deficit or surplus for the budget year. Sets forth deficit reduction requirements for the scorecard. Establishes a scorecard for each fiscal year starting with 1994 for discretionary appropriations amounts due to: (1) the enactment of any law in the budget-year session; (2) the enactment of any law in any previous session of Congress; or (3) the imposition of any across-the-board reduction of discretionary programs. Sets forth the method of enforcing deficit reduction targets in direct spending programs through a targeted sequestration procedure. Requires enactment of a spin-off law to initiate such procedure. Establishes a comprehensive sequestration procedure if such spin-off bill is not enacted. Requires under such procedure a freeze of entitlement spending and some revenue provisions in the amount needed to meet deficit targets. Sets forth the method of sequestering discretionary programs through uniform across-the-board reductions, unless the excess of new budget authority is less than $250 million. Lists the budget accounts or activities exempted from sequestration. Authorizes the President to exempt some or all of the budgetary resources of any military personnel account from sequestration, pending notification of the Congress. Subjects Federal administrative expenses to sequestration orders, with specified exceptions. Provides for the permanent sequestration of direct spending and receipts and for determining applicable uniform percentages for reductions. Sets forth the method of making reductions for specified programs. Amends the Internal Revenue Code to establish the method of sequestration through tax changes. Requires an increase in the top marginal rates and modifies the indexing provision under a sequestration order. Imposes a tax surcharge on individuals and corporations. Sets forth the timetable for estimating assumptions and filing reports and orders by the President, the Office of Management and Budget (OMB), the Congressional Budget Office (CBO) and the Board of Estimates (established by this Act). Requires the making of sequestration reports, sequestration preview reports, and low-growth reports by CBO and OMB. Establishes the administrative procedures relative to such reports. Sets forth assumptions to be used in calculating the baseline for the budget year and each outyear with respect to direct spending and receipts and discretionary programs. Declares that a baseline assuming deficit reduction refers to a projection of current policy baseline surpluses or deficits into the budget year and the outlays that are adjusted in aggregate by: (1) assuming compliance with basic deficit reduction targets; (2) assuming compliance with the discretionary funding limits; and (3) excluding amounts resulting from legislation designated as an emergency requirement. Establishes as a deposit fund in the Treasury a Stabilization Reserve Fund to accumulate balances during years of comparative prosperity, which may later be used to cover the loss of receipts and the increase in outlays that occur during comparative economic distress. Requires annual surpluses to be paid into the Fund. Establishes congressional procedures in the event of a low-growth report or a declaration of war. Establishes a Board of Estimates to choose the applicable sequestration report from OMB or CBO to submit to the President. Provides judicial review procedures for provisions of this title. Title II: Technical and Conforming Amendments - Makes technical and conforming amendments to the Congressional Budget and Impoundment Control Act of 1974, the Federal Credit Reform Act of 1990, the Rules of the House of Representatives, the Standing Rules of Senate, and specified other laws. Establishes the public debt limit.
United States · United States Congress · 18 February 1993
Emergency Climate Stabilization and Earth Regeneration Act of 1992 - Declares that the purpose of this Act is to establish a process through which the Congress and the President shall cooperate in a national and international program to: (1) reduce heat, drought, famine, tornadoes, and forest fires and to decrease the freezing extremes, snow buildup, flooding, cloud cover, and storms in the winter; (2) regenerate the earth through reforestation, soil and ocean remineralization, conservation, and alternative energy technology development; (3) maximize food and agricultural security; and (4) create a secure, environmentally sustainable way of life consistent with long-term climate stabilization. Sets forth specific ways to achieve reduction of carbon dioxide. Directs the President to provide for a climatic stabilization program and for information development and processing centers to process data concerning world climatic conditions. Directs the Speaker of the House and the President pro tempore of the Senate to take steps to establish a Joint Committee on Climate Stabilization. Establishes a Council on Climate Stabilization and Earth Regeneration as an independent Federal agency. Requires the President to provide for a unified crisis management operation to minimize damage from, and to maintain agricultural and industrial production under, changing atmospheric conditions that cause natural disasters. Amends the Internal Revenue Code to impose a corporate tax surcharge. Terminates such tax for tax years after December 31, 1996. Establishes a Climate Stabilization Trust Fund to be composed of the amount of corporate tax surcharges received in the Treasury. Makes the Fund available to carry out this Act. Authorizes appropriations.
United States · United States Congress · 18 February 1993
Public Housing Fair Compensation Act of 1993 - Amends the United States Housing Act of 1937 to revise the method of calculating the amounts paid by public housing agencies in lieu of State and local real and personal property taxes. Authorizes appropriations for such payments.
United States · United States Congress · 18 February 1993
Amends the Internal Revenue Code to extend the period for the rollover of gain from the sale of a principal residence if the new principal residence is located in a disaster area.
United States · United States Congress · 18 February 1993
Amends the Legislative Reorganization Act of 1946 to eliminate the automatic pay adjustment for Members of Congress for FY 1994.
United States · United States Congress · 18 February 1993
Amends the Internal Revenue Code to exclude from the gross income of an individual amounts received as a pension or annuity under a public retirement system to the extent they are not attributable to services covered under the social security system. Limits the tax exclusion based upon calculations relating to income tax treatment of social security benefits.
United States · United States Congress · 18 February 1993
Constitutional Amendment - Requires the Congress, prior to each fiscal year, to adopt a statement in which total Federal outlays (except those for repayment of debt principal) do not exceed total receipts (except those derived from borrowing), unless a three-fifths vote of both Houses authorizes a specific excess. Limits the rate of increase in receipts in the statement to that of the increase in national income in the previous calendar year, unless law is enacted solely to approve specific additional receipts. Directs the President to submit a balanced budget. Authorizes waiver of these provisions in time of war. Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a three-fifths majority of both Houses becomes law. Grants the President line item veto power with respect to any item of spending authority in a bill (including any vote, resolution, or order that contains such item).
United States · United States Congress · 17 February 1993
Small Business Loan Securitization and Secondary Market Enhancement Act of 1993 - Amends the Securities Exchange Act of 1934 to define a "small business related security" (SBRS) as generally a high rated security that represents and is secured by promissory notes evidencing and that provides for payments of principal in relation to payments on the notes. Provides that SBRSs shall be exempt from: (1) certain restrictions in the margin and securities delivery rules; (2) certain restrictions on borrowing on securities by and lending among, brokers, dealers, and other members of national securities exchanges; and (3) certain prohibitions on the extension of credit by members of exchanges, brokers, and dealers against a security which was part of a new issue. Amends the Home Owners' Loan Act, the Federal Credit Union Act, and related statutes to allow banks, credit unions, and other depository institutions to invest in SBRSs. Amends the Secondary Mortgage Market Enhancement Act of 1984 to: (1) authorize any U.S. person or entity to invest in SBRS, to the same extent such person is authorized to invest in U.S. obligations issued; and (2) exempt SBRSs from any State law's security registration and qualification to the same extent that U.S. securities are so exempt. Provides for States to enact provisions prescribing specific requirement for SBRSs. Requires the accounting principles applicable to the transfer of a small business loan with recourse contained in reports or statements required by appropriate Federal banking agencies to be uniform and consistent with generally accepted accounting principles. Prohibits the amount of capital required to be maintained by a depository institution with respect to the sale of a small business loan with recourse from exceeding an amount sufficient to meet the institution's reasonable estimated liability under the recourse arrangement. Requires an SBRS to be treated as a mortgage-backed security under the risk-based capital requirements applicable to insured depository institutions. Directs the Secretary of Labor to exclude transactions involving SBRSs from certain restrictions and taxes imposed on "prohibited transactions" under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (thereby allowing pension fund managers to participate in the pooling and packaging of small business loans for sale as securities). Requires the Secretary of the Treasury to promulgate regulations providing for the taxation of a small business loan investment conduit and the holder of an interest therein in a manner similar to the taxation of a real estate mortgage investment conduit and the holder of an interest therein under the Internal Revenue Code.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to make permanent, and to increase to 100 percent, the deduction for the health insurance costs of self-employed individuals.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to suspend the two-year rollover period on the gain on sale of a principal residence for taxpayers whose deposits are frozen in financial institutions. Prohibits such suspended period from extending beyond four years after the date of sale of such residence.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to raise the threshold (from $50 to $245 a quarter) for paying and withholding social security taxes on wages paid for domestic service in a private home. Provides for an inflation adjustment of the threshold in calendar quarters after 1993.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to raise the threshold (from $50 to $300 a quarter) for paying and withholding social security taxes on wages paid for domestic service in a private home. Sets forth rules for filing returns with respect to domestic service employment taxes and requires such returns to be made on a calendar year basis. Subjects such taxes to estimated tax provisions. Makes filing requirements inapplicable to any employer liable for tax concerning remuneration for services other than domestic service in a private home. Authorizes the Secretary of the Treasury to enter into agreements with States to collect the State unemployment tax imposed on remuneration for domestic service and transfers such amounts to a State's account in the Unemployment Trust Fund. Treats such taxes as domestic service employment taxes.
United States · United States Congress · 17 February 1993
Social Security Miscellaneous Amendments Act of 1993 - Amends the Social Security Act (SSA) and related provisions of Federal law with respect to: (1) telephone access to local Social Security Administration offices; (2) coverage under SSA title II (Old Age, Survivors and Disability Insurance) (OASDI) of State election personnel services; (3) treatment of certain noncash remuneration for agricultural labor; (4) use of social security numbers for jury selection; (5) OASDI coverage of police officers and fire fighters; (6) self-employment tax liability of Canadian clergy; (7) totalization benefits, military reservists, and application of windfall elimination and Government pension offset provisions under OASDI; (8) facility-of-payment provisions under OASDI; (9) maximum family benefits in guarantee cases under OASDI; and (10) disclosure of mortality information under SSA for epidemiological research purposes.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to provide a complete tax exemption (currently a 75 percent tax exemption) for bonds used to finance high-speed intercity rail facilities.
United States · United States Congress · 17 February 1993
Buy-American Investment Incentive Act - Amends the Internal Revenue Code to allow an incremental investment credit in an amount equal to ten percent of the excess of the aggregate bases of qualified investment credit properties placed in service over 80 percent of the base amount. Excludes: (1) property if completed outside the United States or if less than 75 percent of the basis of the property is attributable to value added within the United States; and (2) passenger automobiles and office furnishings. Establishes formulas for determining the base amount. Makes the incremental investment credit inapplicable to any property to which the energy or rehabilitation credit would apply unless the taxpayer waives the application of such credits. Establishes special rules for the incremental investment credit in relation to limitations based on the amount of tax. Applies such limitations and provisions concerning carryback and carryforward of unused credits separately, in the case of a C corporation: (1) first with respect to the credit allowed as is not attributable to the incremental investment credit; and (2) then with respect to such credit. Limits the credit, in lieu of current limitations, to the net chapter 1 tax.
United States · United States Congress · 17 February 1993
Fairness for Adopting Families Act - Amends the Internal Revenue Code to permit an individual income tax deduction for qualified adoption expenses. Includes as deductible reasonable and necessary expenses that are directly related to a legal adoption of any child if the adoption has been arranged by a State, local, or other nonprofit agency, or through a private placement. Excludes from an employee's gross income any amounts paid on behalf of the employee by an employer pursuant to a qualified adoption assistance program. Limits both the deduction and the exclusion to $5,000 ($7,000 in the case of an international adoption). Reduces the amount when the taxpayer's income exceeds $60,000. Permits an employer to treat an adoption assistance program as a statutory employee benefit plan, thus making the employer's contributions to such a program tax deductible as business expenses.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to allow as an earned income credit an amount equal to the credit percentage of so much of the taxpayer's income for the taxable year as does not exceed $5,714, subject to a phaseout of the current percentage limits. Eliminates the consideration of the health insurance credit for self-employed individuals as part of the computation of the earned income credit. Makes such changes effective beginning with taxable years after 1992. Directs the Secretary of the Treasury to include certain information to the taxpayer as part of a refund of an overpayment of the earned income credit.
United States · United States Congress · 17 February 1993
Amends the Internal Revenue Code to permit an income tax deduction in the amount of dividends paid by domestic corporations, except S corporations, regulated investment companies, real estate investment trusts, and personal holding companies. Repeals the income tax deductions currently permitted in connection with: (1) dividends received by a corporation; (2) dividends received by a corporation on the preferred stock of a public utility; and (3) dividends paid by a public utility on its preferred stock. Revises the deductible percentage of amounts received by a corporation from a qualified ten-percent owned foreign corporation. Revises the maximum capital gains rate to limit such tax to the sum of: (1) a tax computed at the rates and in the same manner as if capital gains provisions had not been enacted on taxable income reduced by the qualified net capital gain; and (2) a tax equal to the sum of specified percentages of net gains based on number of years (with a maximum percentage of 23 percent of three-to-six year net gains and lower percentages of gains of more than six years). Restores the investment tax credit for manufacturing equipment.
United States · United States Congress · 17 February 1993
Repeals provisions of the Tax Reform Act of 1986 that restrict the types of scholarships and fellowship grants that may be excluded from gross income for income tax purposes. Amends the Internal Revenue Code to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses of the taxpayer, spouse, or dependent.
United States · United States Congress · 17 February 1993
Exempts any individual whose taxable income is less than $200,000 for the taxable year from any tax increase enacted by the 103d Congress.
United States · United States Congress · 17 February 1993
Amends rule XXI of the Rules of the House of Representatives to make it out of order to consider any measure appropriating amounts for salaries and expenses or official mailing costs of the House unless such measure: (1) prohibits availability of any such amount for obligation for any other purpose during the fiscal year for which funds are appropriated or for any purpose after the end of that fiscal year; and (2) requires that any such amount not so obligated be used for open-market purchase of outstanding interest-bearing obligations of the Government.
United States · United States Congress · 17 February 1993
Expresses the sense of the Congress that no new tax should be imposed on foreign imported oil.
United States · United States Congress · 16 February 1993
TABLE OF CONTENTS: Title I: Energy Independence Incentives Title II: Infrastructure Incentives Title III: Investment Incentives Energy Independence, Infrastructure, and Investment Act of 1993 - Title I: Energy Independence Incentives - Amends the Internal Revenue Code to impose an excise tax on the first sale within the United States of any crude oil or refined petroleum product imported into the United States. (The tax is imposed on first use if no prior tax has been imposed.) Exempts crude oil and refined petroleum products purchased for export. Title II: Infrastructure Incentives - Amends the Internal Revenue Code to increase the percentage depletion for stripper wells. Repeals the net income limitation on percentage depletion for oil and gas properties. Establishes a crude oil and natural gas exploration and development tax credit. Allows a ten percent credit for qualified investments exceeding $1 million, 20 percent for those of $1 million or less. Permits the credit as an offset against both minimum tax liability and regular liability. Requires any deduction allowed for costs taken into account in computing such credit to be reduced by the amount of the credit attributable to such costs. Establishes a marginal production income tax credit for producers who maintain economically unproductive oil wells. Applies the credit to domestic crude that is: (1) from stripper well property; (2) heavy oil; or (3) oil recovered through a tertiary recovery method. Expands the enhanced oil recovery tax credit to apply to the advanced secondary recovery costs of independent producers. Increases the required production of barrels of oil or natural gas per day for stripper wells. Title III: Investment Incentives - Treats certain geological and geophysical costs and surface casing costs as intangible drilling and development costs that a taxpayer may elect to amortize or to deduct for income tax purposes. Makes depreciation adjustments in computing such income inapplicable to environmental improvement assets.
United States · United States Congress · 16 February 1993
Amends the Internal Revenue Code to restore the deduction for retirement savings through individual retirement accounts. Provides an inflation adjustment for such deduction. Coordinates the limit on such deduction with the elective deferral limit under other pension provisions.
United States · United States Congress · 16 February 1993
TABLE OF CONTENTS: Title I: Joint Budget Resolution Title II: Zero Based Budgeting and Decennial Sunsetting Title III: Spending Caps on the Growth of Entitlements for Fiscal Years 1994 through 2000 Title IV: Balanced Budget by Fiscal Year 2000 Balanced Budget Implementation Act - Title I: Joint Budget Resolution - Amends the Congressional Budget Act of 1974 to reform the budget process by requiring a joint resolution on the budget instead of the concurrent resolution on the budget. Title II: Zero Based Budgeting and Decennial Sunsetting - Terminates spending authority for unearned entitlements and high-cost discretionary spending programs for FY 1994, and discretionary spending programs (not including high-cost programs) for FY 1995, unless such spending is reauthorized after the date of enactment of this Act. Establishes a point of order against legislation that appropriates funds, which may be waived by a three-fifths vote of each House of Congress. Requires the reauthorization of discretionary spending authority and unearned entitlements every ten years beginning in the first decennial census year after 2000. Title III: Spending Caps on the Growth of Entitlements for Fiscal Years 1994 through 2000 - Declares that for FY 1994 through 2000 the total level of entitlement and mandatory spending, excluding social security, shall not exceed the total level for the previous fiscal year increased by the consumer price index and growth in eligible population. Requires sequestration of necessary to reduce spending. Provides for making uniform reductions with limitations. Lists programs and activities exempt from sequestration and providing exceptions, limitations, and special rules. Establishes a point of order against entitlement programs which may be waived by a three-fifths vote of each House. Title IV: Balanced Budget by Fiscal Year 2000 - Requires reduction of the maximum deficit amount to zero by FY 2000. Allows a waiver or suspension on the prohibition on exceeding such amount by a three-fifths vote of both Houses. Allows a waiver or suspension on exceeding the public debt limit by a three-fifths vote of both Houses. Excludes social security from the budget process. Establishes a point of order against any joint resolution on the budget that would decrease the excess of social security revenues over social security outlays, which may be waived by a three-fifths vote of each House. Authorizes the Congress to adopt budget procedures to eliminate the non-social security deficit. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require look-back sequestration in the last quarter of each fiscal year.
United States · United States Congress · 16 February 1993
Enterprise Capital Formation Act of 1993 - Amends the Internal Revenue Code to exclude from gross income: (1) 50 percent of the gain from the sale or exchange of qualified small business stock, other than seed capital stock, held for more than five years; plus (2) an applicable percentage (from 50 to 100 percent) from the sale or exchange of such stock which is seed capital stock held for at least five years. Establishes special rules for such investments. Provides for determining the maximum capital gains rate for small business net capital gain or seed capital gain. Treats capital gains on the sale of such stock as a preference item for purposes of the minimum tax.
United States · United States Congress · 16 February 1993
Amends the Internal Revenue Code to provide special rules with respect to the nonrecognition of gain for principal residences compulsorily or involuntarily converted as a result of a presidentially-declared disaster. Requires the nonrecognition of gain of insurance proceeds for the contents of such residences. Allows insurance proceeds from personal property and real property to be lumped together into one common fund. Extends the time to replace a principal residence from two years to four years.
United States · United States Congress · 16 February 1993
Amends Internal Revenue Code provisions governing the income tax deduction for the health insurance costs of self-employed individuals to: (1) make the deduction permanent; and (2) phase in an increase in the allowable deduction, reaching 100 percent for taxable years beginning in 1996 and thereafter. Amends the Tax Extension Act of 1991 to repeal the special rule provided for such health insurance costs for 1992.
United States · United States Congress · 16 February 1993
Possessions Wage Credit Act of 1993 - Amends the Internal Revenue Code to allow a possessions employment credit for wages paid or incurred by an employer for services performed by an employee within a possession of the United States, if such employee is a bona fide resident of such possession and is subject to its tax on income from sources within and without such possession. Terminates the Puerto Rico and possession tax credit.
United States · United States Congress · 16 February 1993
Amends the Internal Revenue Code to reinstate the ten-percent investment tax credit with respect to property placed in service during 1992, 1993, or 1994, and make the at-risk rules inapplicable to such property. Requires the computation of the rehabilitation credit, energy credit, and reforestation credit as in effect on the day before enactment of this Act. Makes the investment tax credit applicable to certain projects entered into after December 31, 1994.
United States · United States Congress · 16 February 1993
Amends the Internal Revenue Code to exclude from gross income 50 percent of any gain from the sale or exchange of small business stock held for at least two years. Establishes special rules for such exchanges. Treats capital gains on the sale of such stock as a preference item for purposes of the minimum tax.
United States · United States Congress · 16 February 1993
Enterprise Capital Formation Act of 1993 - Amends the Internal Revenue Code to exclude from gross income: (1) 50 percent of the gain from the sale or exchange of qualified small business stock, other than seed capital stock, held for more than five years; plus (2) an applicable percentage (from 50 to 100 percent) from the sale or exchange of such stock which is seed capital stock held for at least five years. Establishes special rules for such investments. Provides for determining the maximum capital gains rate for small business net capital gain or seed capital gain. Treats capital gains on the sale of such stock as a preference item for purposes of the minimum tax.
United States · United States Congress · 16 February 1993
Economic Stimulus Tax Act of 1993 - Amends the Internal Revenue Code (IRC) to repeal the limitation on passive activity losses and credits. Shortens the recovery period (providing for accelerated depreciation) for residential rental property and nonresidental real property. Restores the ten-percent general investment tax credit. Allows individuals and corporations a deduction of 50 percent of the net capital gain from assets held for at least one year. Increases the deduction for health insurance costs for self-employed individuals from 25 percent to 100 percent. Makes such deduction permanent. Repeals the Tax Reform Act of 1986 to restore IRC provisions relating to income averaging. Removes the ceiling on wages subject to social security taxes and provides a reduction in such taxes.
United States · United States Congress · 16 February 1993
Prescription Drug Prices Review Board Act of 1993 - Establishes in the Food and Drug Administration the Patented Medicine Prices Review Board which shall have the power to decrease the length of term of a prescription drug patent if, after notice and a hearing, it is found that the drug's price is excessive. Defines the term excessive price. Allows the Board to require the recapture of tax benefits provided to the patentee of an excessively priced drug.
United States · United States Congress · 16 February 1993
Social Security Domestic Employment Tax Simplification Act of 1993 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act and the Internal Revenue Code (IRC) to raise the threshold amount of cash remuneration payable to a domestic employee in any year which is subject to social security employment taxes. Amends IRC to: (1) provide for the coordination of the collection of domestic service employment taxes with the collection of income taxes; (2) subject domestic service employment taxes to estimated tax provisions; (3) exempt certain employers from the payment of such taxes; and (4) authorize the Secretary of the Treasury to enter into agreements to collect State unemployment taxes imposed on such remuneration. Requires the Secretaries of Health and Human Services and the Treasury to study and report to the Congress on the effects of this Act.
United States · United States Congress · 16 February 1993
Requires the Secretary of the Treasury to report to specified committees annually on the program to prevent abuses of taxpayers' rights by the Internal Revenue Service (IRS). Requires the Comptroller General to report to specified congressional committees on: (1) an investigation of past instances in which the Service has abused taxpayers' rights or has engaged in other significant misconduct; and (2) an assessment and evaluation of the implementation and effectiveness of the program to prevent such abuses. Provides access to returns and return information by the Comptroller General to carry out the purposes of this Act. Amends the Internal Revenue Code to establish in the IRS the Office of Taxpayers' Advocate, headed by the Taxpayers' Advocate. Requires the Office to: (1) assist taxpayers in resolving problems with the IRS; (2) identify areas in which taxpayers have problems in dealings with the IRS; (3) propose changes in the administrative practices of the IRS to mitigate such problems; and (4) identify potential legislative changes which may be appropriate to mitigate such problems. Requires the Taxpayers' Advocate to annually report to specified congressional committees on Office activities. Requires the Commissioner of Internal Revenue to establish procedures requiring a formal response to all recommendations submitted to the Commissioner by the Taxpayers' Advocate. Requires the Secretary of the Treasury to report to specified congressional committees on the effectiveness of the taxpayer-rights education program for its officers and employees. Requires the Secretary to report biennially to specified congressional committees on all cases involving complaints about misconduct of IRS employees and the disposition of the complaints.
United States · United States Congress · 16 February 1993
Amends the Internal Revenue Code to remove charitable contributions of appreciated capital gain property as an item of tax preference for purposes of the alternative minimum tax.
United States · United States Congress · 16 February 1993
Volunteer Protection Act of 1993 - Prescribes circumstances under which volunteers working for nonprofit organizations or government entities shall be immune from personal financial liability for acts on behalf of the organization or entity. Sets forth exceptions and conditions that a State may impose on the granting of such immunity. Requires the Secretary of Health and Human Services to increase by one percent the fiscal year allotment which would otherwise be made to a State to carry out the Social Services Block Grant Program under title XX of the Social Security Act if such State has, within two years, certified to the Secretary that it has enacted a State law which provides such immunity. Provides for the continuation of such increase based on an annual recertification.
United States · United States Congress · 16 February 1993
Fairness in Federal Purchases Act of 1993 - Amends the Buy American Act to require Federal agency heads, upon notification in the Federal Register that the unemployment rate was five percent or higher or that the gross national product (GNP) declined during the preceding fiscal quarter, to determine whether: (1) the amount the agency spent on foreign government goods and services exceeded the amount such foreign governments spent on similar domestic goods and services during the preceding fiscal year and, if so, adjust spending on procurement from domestic versus foreign sources to eliminate any imbalance; and (2) less than 35 percent of the agency procurement spending went to small businesses and, if so, increase small business procurement spending to equal or exceed that amount. Provides that the lowest acceptable domestic product prices shall be considered unreasonable if they exceed the lowest acceptable foreign prices by more than specified amounts. Terminates such spending requirements after: (1) three years; or (2) specified shorter periods following publication of an unemployment rate of less than five percent for the preceding quarter or of a stable or increasing GNP for two consecutive quarters.
United States · United States Congress · 16 February 1993
TABLE OF CONTENTS: Title I: Joint Budget Resolution Title II: Zero Based Budgeting and Decennial Sunsetting Title III: Spending Caps on the Growth of Entitlements for Fiscal Years 1994 through 2000 Title IV: Balanced Budget by Fiscal Year 2000 Balanced Budget Implementation Act - Title I: Joint Budget Resolution - Amends the Congressional Budget Act of 1974 to reform the budget process by requiring a joint resolution on the budget instead of the concurrent resolution on the budget. Title II: Zero Based Budgeting and Decennial Sunsetting - Terminates spending authority for unearned entitlements and high-cost discretionary spending programs for FY 1994, and discretionary spending programs (not including high-cost programs) for FY 1995, unless such spending is reauthorized after the date of enactment of this Act. Establishes a point of order against legislation that appropriates funds, which may be waived by a three-fifths vote of each House of Congress. Requires the reauthorization of discretionary spending authority and unearned entitlements every ten years beginning in the first decennial census year after 2000. Title III: Spending Caps on the Growth of Entitlements for Fiscal Years 1994 through 2000 - Declares that for FY 1994 through 2000 the total level of entitlement and mandatory spending, excluding social security, shall not exceed the total level for the previous fiscal year increased by the consumer price index and growth in elgible population. Requires sequestration as necessary to reduce spending. Provides for making uniform reductions with limitations. Lists programs and activities exempt from sequestration and provides exceptions, limitations, and special rules. Establishes a point of order against entitlement programs which may be waived by a three-fifths vote of each House. Title IV: Balanced Budget by Fiscal Year 2000 - Requires reduction of the maximum deficit amount to zero by FY 2000. Allows a waiver or suspension on the prohibition on exceeding such amount by a three-fifths vote of both Houses. Allows a waiver or suspension on exceeding the public debt limit by a three-fifths vote of both Houses. Excludes social security from the budget process. Establishes a point of order against any joint resolution on the budget that would decrease the excess of social security revenues over social security outlays, which may be waived by a three-fifths vote of each House. Authorizes the Congress to adopt budget procedures to eliminate the non-social deficit. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require look-back sequestration in the last quarter of each fiscal year.