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851 records in US in 2001
United States · United States Congress · 29 March 2001
Amends the Internal Revenue Code to reduce from $18 to $9 (its pre-1991 level) the per-barrel tax on beer.
United States · United States Congress · 29 March 2001
Amends the Internal Revenue Code to exclude contributions of any qualified conservation contribution or capital gain real property made for conservation purposes from the application of the special limitation on contributions of capital gain property and from the application of the five-year carryover limitation. Repeals specified property location restrictions on the estate tax exclusion for property subject to a qualified conservation easement.
United States · United States Congress · 29 March 2001
Resource Efficient Appliance Incentives Act - Amends the Internal Revenue Code to establish a limited credit, for a limited time period, for producers of qualified energy efficient clothes washers and energy efficient refrigerators.
United States · United States Congress · 29 March 2001
Military Tax Credit Act of 2001 - Amends the Internal Revenue Code to provide that, in the case of an individual who is on active duty in the armed forces at any time during a taxable year, there shall be allowed a refundable tax credit of up to $4,000 (for a joint return). Provides for prorating such credit if such duty is less than a full year.
United States · United States Congress · 29 March 2001
Community Solutions Act of 2001 - Title I: Charitable Giving Incentives Package - Amends the Internal Revenue Code to allow a non-itemizer a deduction for charitable contributions. (Sec. 102) Permits tax-free distributions from an individual retirement account made directly to a qualified charity. (Sec. 103) Sets forth a rule for determining the amount of the deduction allowable for a charitable contribution of food inventory. (Sec. 104) Exempts a business entity from civil liability relating to any injury or death that results from the use of equipment, facilities (including tours of such facilities), or vehicles donated by such entity to a nonprofit organization, subject to stated exceptions. Title II: Expansion of Charitable Choice - Charitable Choice Act of 2001 - Includes religious organizations as nongovernmental providers, provided that no Federal, State, or local government funds or other assistance that is received by a religious organization aids the religion, for purposes of programs concerning the: (1) prevention and treatment of juvenile delinquency and the improvement of the juvenile justice system; (2) prevention of crime; (3) Federal housing laws; (4) the Workforce Investment Act of 1998 (title I only); (5) Older Americans Act of 1965; (6) Child Care Development Block Grant Act of 1990; (7) Community Development Block Grant Program established under title I of the Housing and Community Development Act of 1974; (8) intervention in and prevention of domestic violence; (9) hunger relief activities of such organizations; (10) Job Access and Reverse Commute grant program; or (11) activities necessary to assist students in obtaining the recognized equivalents of secondary school diplomas and activities relating to non-school-hours programs. States that the receipt by a religious organization of Federal, State, or local government funds is not and should not be perceived as an endorsement by the government of religion or the organization's religious beliefs or practices. Permits a religious organization, in order to aid in the preservation of its religious character and notwithstanding any other provision of law, to require that its employees adhere to the religious practices of the organization. Requires the appropriate Federal, State, or local governmental entity funding any of the above described programs, if a program beneficiary objects to the religious character of the organization from which the beneficiary receives, or would receive, assistance to provide to such beneficiary assistance that: (1) is an alternative, including a nonreligious alternative, that is accessible to the individual; and (2) has a value that is not less than the value of the assistance that the beneficiary would have received from such religious organization. Prohibits discrimination by a religious organization receiving such program assistance against a beneficiary on the basis of religion, a religious belief, or a refusal to hold a religious belief. Title III: Individual Development Accounts - Provides for the establishment of individual development accounts (IDAs) for taxpayers with incomes of up to $20,000 ($25,000 for heads of households and for $40,000 on a joint return) from which expenses may be made for: (1) qualified higher education expenses; (2) qualified first-time homebuyer costs; (3) qualified business capitalization or expansion costs; (4) qualified rollovers; or (5) a qualified final distribution. Provides that an IDA programs shall consist of two components: (1) an IDA to which an eligible individual may contribute cash; and (2) a parallel account to which all matching funds shall be deposited. Defines a "parallel account"as a separate, parallel individual or pooled account for all matching funds and earnings dedicated to an IDA owner as part of a qualified IDA program, the sole owner of which is a qualified financial institution, a qualified nonprofit organization, or an Indian tribe. Requires the qualified financial institution, qualified nonprofit organization, or Indian tribe to deposit all matching funds for each IDA into a parallel account at a qualified financial institution, a qualified nonprofit organization, or an Indian tribe. Establishes an IDA tax credit for a qualified financial institution equal to the IDA investment provided. Sets forth provisions concerning: (1) structure and administration of IDA programs; (2) procedures for opening and maintaining an IDA and qualifying for matching funds; (3) deposits by qualified IDA programs; (4) withdrawal procedures; (5) certification and termination of qualified IDA programs; (6) reporting, monitoring, and evaluation (and authorization of appropriations for such activities and implementing the IDA program); and (7) the disregarding of account funds for purposes of certain means-tested Federal programs.
United States · United States Congress · 28 March 2001
Amends the Internal Revenue Code to include wireless telecommunications equipment in the definition of qualified technological equipment for purposes of determining the depreciation treatment of such equipment under the accelerated cost recovery system.
United States · United States Congress · 28 March 2001
Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to provide art and collectibles with capital gain rates similar to other assets held long-term. (Currently art and collectibles have a 28 percent capital gain rate.) Establishes a (limited) fair market value deduction for qualifying literary, musical, or artistic charitable contributions created and donated by the taxpayer. (Currently such deduction is limited to the taxpayer's costs in creating the work.)
United States · United States Congress · 28 March 2001
Constitutional Amendment - Requires a two-thirds vote of each House of Congress in order to pass any bill levying a new tax or increasing the rate or base of any tax. Allows Congress to waive that requirement during war or certain military conflict. Requires all votes under this Amendment to be by yeas and nays and the names of persons voting for and against to be entered in the Journal of each House.
United States · United States Congress · 28 March 2001
Tax Reduction Act of 2001 - Amends the Internal Revenue Code to : (1) revise the existing 15 percent individual tax rate into a 12 percent and 15 percent rate based upon specified income bracket amounts; (2) revise the alternative minimum tax computation; (3) eliminate the alternative minimum tax-based reductions for the earned income and child tax credits; (4) revise the earned income tax credit with respect to credit percentages and amounts, includible income, phaseouts, and the joint return requirement; and (5) revise the standard deduction for joint filers and surviving spouses to twice the amount for an unmarried single filer. Revises estate tax provisions to: (1) increase the exemption equivalent of the unified credit; (2) repeal family-owned business interests deduction provisions; (3) repeal provisions providing for a credit for State death taxes and provide for the deduction from an estate's value of State death taxes paid; and (4) set forth (gross estate) valuation rules for certain transfers of nonbusiness assets.
United States · United States Congress · 28 March 2001
Estate Tax Reduction Act of 2001 - Amends the Internal Revenue Code to: (1) reduce estate tax rates; (2) repeal the phaseout of graduated rates; and (3) increase the unified credit to $2.5 million, with an inflation adjustment.
United States · United States Congress · 28 March 2001
Estate Tax Reduction and Simplification Act of 2001 - Amends the Internal Revenue Code to increase the unified estate tax credit deduction to $3 million. Provides for inflation adjustments. Repeals the estate tax deduction for family-owned business interests.
United States · United States Congress · 28 March 2001
Comprehensive Fiscal Responsibility and Accountability Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to provide for increased medical reviews and anti-fraud activities under the Medicare Integrity Program. Authorizes appropriations for carrying out, and expanding nationwide, the Health Care Anti-Fraud, Waste and Abuse Community Volunteer Demonstration Projects (Medicare Senior Waste Patrol). Amends the Balanced Budget Act of 1997 and SSA title XVIII with respect to application of inherent reasonableness to all Medicare part B services other than physicians' services. Repeals the prohibition against application by the Secretary of Health and Human Services of factors that would increase or decrease the payment under Medicare part B during any year for any particular item or service by more than 15 percent from such payment during the preceding year. Directs the Secretary to require Medicare carriers, in processing claims under Medicare part B, to use commercial claims auditing systems to identify billing errors and abuses. Provides for: (1) canceling the F-22 aircraft, Comanche helicopter, Crusader artillery, and V-22 aircraft programs; (2) limiting the procurement of Virginia class attack submarines and the appropriation of increased funds for the National Missile Defense program; (3) terminating production of Trident D5 missiles, procurement of additional C-130 aircraft, and provision of new assistance under the Foreign Military Financing Program; (4) reducing U.S. nuclear delivery systems to START II limits, the ratio of enlisted-to-officer armed forces personnel, and the Central Intelligence Agency budget; and (5) restricting or suspending selective service requirements. Prohibits the Department of Energy from obligating further funding for: (1) the Nuclear Energy Research Initiative; (2) the National Ignition Facility; (3) Tokamak fusion reactors; and (4) research on diesel engines for cars and light trucks. Instructs the Secretary of Energy to adjust the Nuclear Waste Fund fee annually for inflation. Mandates a royalty of eight percent of the net smelter return from the production of locatable minerals. Prescribes requirements for the issuance of any Federal mining patent or mill site claim after a certain date. Mandates an annual claim maintenance fee of $100 per converted claim, and $200 per located claim, which shall be credited against royalties. Amends the Internal Revenue Code to: (1) terminate, after December 31, 2001, the exclusion of extraterritorial income from gross income; (2) prohibit the deduction of any "excessive compensation" (as defined); (3) prohibit the deduction of tobacco advertising and promotional expenses; and (4) revise provisions of Subchapter N (Tax Based On Income From Sources Within Or Without the United States) concerning the source rules for personal property sales to provide, as a general rule, for the exception of certain sales of inventory property from such provisions. Prohibits the National Aeronautics and Space Administration from obligating any further funding for the International Space Station. Prohibits: (1) the Overseas Private Investment Corporation from issuing any contract of insurance or reinsurance, or any guaranty, or enter into any agreement to provide financing; and (2) the Export-Import Bank of the United States from providing any guarantee, insurance, or extension of credit, or participating in any extension of credit, except pursuant to a commitment made by it before enactment of this Act. Abolishes the Trade and Development Agency. Repeals: (1) the Television Broadcasting to Cuba and the Radio Broadcasting to Cuba Acts; and (2) the United States International Broadcasting Act of 1994. Directs the Secretaries of Defense and of Veterans Affairs to: (1) establish a joint office for the procurement of pharmaceuticals for the Department of Defense and the Department of Veterans Affairs; and (2) develop and implement jointly a common clinically-based formulary for their respective pharmaceutical programs.
United States · United States Congress · 28 March 2001
See summary of: H.R. 7
United States · United States Congress · 28 March 2001
Amends the Internal Revenue Code to make revisions concerning the treatment of tip income for specified services, including treating a limited amount of tips as property transferred by gift.
United States · United States Congress · 28 March 2001
Amends Internal Revenue Code provisions concerning depreciation under the income forecast method to provide that in the case of property for which the depreciation deduction is determined using such method, a taxpayer may determine the adjusted basis of such property solely for depreciation purposes by including the estimated income-contingent costs with respect to such property in such basis for the taxable year in which such property is placed in service.
United States · United States Congress · 28 March 2001
Small Business and Financial Institutions Tax Relief Act of 2001 - Amends the Internal Revenue Code, with respect to S corporations, to, among other things: (1) permit a trust constituting an individual retirement account as an S corporation bank shareholder; (2) exclude certain investment income from the definition of passive income for an S corporation bank; (3) increase the maximum number of shareholders a small business organization may have to be eligible to elect S corporation treatment; (4) state that stock held by a bank director as required by banking regulations (director qualifying stock) shall not be considered a disqualifying second class of S corporation stock; (5) direct the Secretary of the Treasury to modify a certain regulation to permit an S corporation bank to treat certain bad debt deductions as built-in losses during the entire period during which the bank recognized built-in gains from changing its accounting method for recognizing bad debts from the reserve method to the charge-off method; (6) include all banks within the three-year deduction preference rule; (7) reduce from 100 percent to 90 percent the percentage of shares held by shareholders necessary for consent to election by a small business organization to be an S corporation; (8) revise exceptions to the criteria for the treatment of certain wholly owned subchapter S subsidiaries with reference to required information returns; and (9) permit S corporations to make charitable contributions of inventory and scientific property.
United States · United States Congress · 28 March 2001
Investment Competitiveness Act - Amends the Internal Revenue Code to exempt interest-related dividends and short-term capital gain dividends received from a regulated investment company from the 30 percent tax on the income of nonresident aliens and foreign corporations not connected with a U.S. business, subject to exception. Revises provisions concerning: (1) the estate tax treatment of stock in certain regulated investment companies owned by a nonresident; and (2) the distribution of U.S. property by a qualified investment entity (currently, a real estate investment trust).
United States · United States Congress · 28 March 2001
Amends the Internal Revenue Code to include wireless telecommunications equipment in the definition of qualified technological equipment for purposes of determining the depreciation treatment of such equipment under the accelerated cost recovery system.
United States · United States Congress · 28 March 2001
Amends the Internal Revenue Code to allow, through December 31, 2006, a limited credit for energy-efficient building property. Defines such property as a stationary fuel cell power plant that: (1) generates electricity using an electrochemical process; and (2) has an electricity-only generation efficiency greater than 30 percent. Allows, through December 31, 2006, a credit to an individual for nonbusiness energy-efficient building property expenditures.
United States · United States Congress · 28 March 2001
Amends the Internal Revenue Code to include a bicycle commuting allowance as a qualified transportation fringe benefit.
United States · United States Congress · 28 March 2001
Global Health Act of 2001 - Amends the Foreign Assistance Act of 1961 to mandate that activities supported in connection with health programs include activities to improve the capacity of developing nations to conduct disease surveillance and prevention programs, and to respond promptly and effectively to disease outbreaks. Authorizes additional appropriations for FY 2002 and for each subsequent fiscal year for specified allocations, including the health and nutrition of children and pregnant women and mothers, voluntary family planning, and the prevention and control of HIV/AIDS and other infectious diseases. Expresses the sense of Congress that the President, acting through the Administrator of the United States Agency for International Development, should coordinate with specified Federal departments and agencies to ensure that U.S. funds available for population planning and health programs in developing nations are used effectively.
United States · United States Congress · 28 March 2001
Sets forth the rule (modified closed) for the consideration of H.R. 6 (marriage penalty and family tax relief).
United States · United States Congress · 27 March 2001
Arsenic Reduction in Drinking Water Act of 2001 - Requires the final rule promulgated by the Administrator of the Environmental Protection Agency entitled "Arsenic and Clarifications to Compliance and New Source Contaminants Monitoring" to have full force and effect. Directs the Administrator, for each fiscal year for which funds are available to carry out this Act and using data obtained from the most recent available water system capital improvement needs survey conducted under the Safe Drinking Water Act, to allocate the funds to States for carrying out treatment projects to comply with such final rule.
United States · United States Congress · 27 March 2001
Comprehensive Retirement Security and Pension Reform Act of 2001 - Amends the Internal Revenue Code (the Code) with respect to pensions. (All the following are amendments to the Code, except where the Employee Retirement Income Security Act of 1974, ERISA, is mentioned.) Increases: (1) annual dollar Individual Retirement Account (IRA) contribution limits; and (2) benefit and contribution limits, with indexes for inflation. Revises requirements relating to: (1) plan loans for subchapter S owners, partners, and sole proprietors; and (2) specified top-heavy rules. Provides that elective deferrals shall not be taken into account for purposes of limits on certain plan contributions. Repeals specified coordination requirements for deferred compensation plans of State and local governments and tax-exempt organizations. Revises certain deduction limits for stock bonus and profit sharing trusts and for defined contribution plans. Provides for optional treatment of elective deferrals as after-tax contributions. Allows individuals age 50 or older to make additional contributions to an applicable employer plan (section 401(k) or similar plan). Sets forth requirements relating to equitable treatment for contributions of employees to defined contribution plans. Provides for faster vesting of certain employer matching contributions under the Code and ERISA. Revises: (1) minimum distribution rules; (2) requirements relating to tax treatment of division of section 457 plan benefits upon divorce; and (3) provisions for safe harbor relief for hardship withdrawals from 401(k) plans. Permits, under certain conditions, rollovers: (1) from and to various types of plans; (2) of IRAs into workplace retirement plans; and (3) of after-tax contributions in an exempt trust. Sets forth a hardship exception to the 60-day rule. Sets forth requirements for treatment of forms of distribution available under transferor and transferee plans under the Code and ERISA. Revises restrictions on distributions, including the same desk exception. Allows trustee-to-trustee transfers to purchase permissive service credit with respect to governmental defined benefit plans. Allows employers to disregard rollovers for purposes of cash-out amounts, under retirement plan provisions of the Code. Revises minimum distribution and inclusion requirements for section 457 plans. Repeals, for plan years beginning in 2004 and following years, the current liability full funding limit under the Code and ERISA. Revises maximum contribution deduction rules, and applies them to all defined benefit plans. Allows an employer, in determining the amount of nondeductible contributions for any taxable year, to elect not to take into account any contributions to a defined benefit plan except to the extent they exceed the full-funding limitation. Establishes an excise tax for the failure of a defined benefit plan or an individual account plan (except governmental, church, and other specified plans) subject to minimum funding standards to meet specified notice requirements, under the Code and ERISA, for plan amendments which significantly reduce benefit accruals. Makes certain compensation limitations for defined benefit plans inapplicable to governmental and multiemployer plans. Prohibits combining or aggregating a multiemployer plan with any other plan maintained by the employer for the purpose of applying such limitations. Amends the Taxpayer Relief Act of 1997 to protect the investment of employee contributions to 401(k) plans by providing that specified requirements apply to elective deferrals for plan years beginning after December 31, 1998. Requires that pension benefit statements be furnished annually (once every three years for defined benefit plans) or on request. Establishes an excise tax for certain prohibited allocations of stock in an S corporation ESOP. Revises Code and ERISA requirements relating to timing of plan valuations. Allows applicable dividends of ESOPs to be reinvested without loss of dividend deduction. Repeals a transition rule relating to certain highly compensated employees under the Tax Reform Act of 1986. Directs the Secretary to modify specified regulations with respect to certain plan participation by employees of tax-exempt entities. Treats the provision of certain retirement planning services by an employer for an employee as a de minimis fringe benefit to the extent it is not treated as a working condition fringe. Directs the Secretary of the Treasury to provide simplified annual filing requirements for retirement plans with assets below a specified amount, if they cover: (1) one participant (an owner and spouse); or (2) fewer than 25 employees. Directs the Secretary to continue to update and improve the Employee Plans Compliance Resolution System, or any successor program. Repeals a multiple use test. Allows certain alternative ways of satisfying nondiscrimination, coverage, and line of business rules. Exempts plans maintained by any governmental entity from certain nondiscrimination rules. Directs the Secretary to modify specified regulations relating to the notice and consent period regarding distributions. Revises ERISA provisions relating to: (1) annual report dissemination; (2) the National Summit on Retirement Savings; (3) missing participants; (4) Pension Benefit Guaranty Corporation (PBGC) reduction of premiums for new plans of small employers and of additional premiums for new and small plans; (5) PBGC authority to pay interest on premium overpayment refunds; (6) substantial owner benefits in terminated plans; (7) civil penalties for breach of fiduciary responsibility; and (8) benefit suspension notices. Prescribes time requirements for plan amendments or annuity contract amendments.
United States · United States Congress · 27 March 2001
Long-Term Care and Retirement Security Act of 2001 - Amends the Internal Revenue Code to allow: (1) a deduction (based on years of continuous coverage) for eligible long-term care insurance premiums for a taxpayer, spouse, and dependents, including accelerated deduction percentages for persons who are 55 years old; and (2) long-term care insurance to be offered under cafeteria plans and flexible spending arrangements. Allows an income-adjusted (limited) credit for eligible individuals with long-term care needs. Sets forth specified requirements for qualifying long-term care insurance contracts.
United States · United States Congress · 27 March 2001
Medicare Early Access and Tax Credit Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to add a new part D (Purchase of Medicare Benefits by Certain Individuals Age 62-to-65 Years of Age) (Medicare buy-in) entitling to the same Medicare benefits as an individual entitled to benefits under Medicare part A (Hospital Insurance) and enrolled under Medicare part B (Supplementary Medical Insurance) an enrolled individual age 62 to 65 who: (1) would be eligible for such benefits if 65; but (2) is not eligible for benefits under a Federal health insurance program or a group health plan (other than merely through a Federal or State COBRA continuation provision). Provides for the determination and payment of monthly premiums under the new part D program. Creates in the Treasury the Medicare Early Access Trust Fund to hold the premiums paid pursuant to this Act. Provides for oversight and accountability concerning the status of the Trust Fund. Amends SSA title XVIII to provide access to Medicare benefits to displaced workers age 55-to-62 and their spouses. Amends the Employee Retirement Income Security Act of 1974 (ERISA), the Public Health Service Act, and the Internal Revenue Code to provide for COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) continuation benefits for certain retired workers who lose retiree health coverage. Amends the Internal Revenue Code to provide an individual with a tax credit for 50 percent of certain COBRA continuation coverage premiums and Medicare buy-in premiums.
United States · United States Congress · 27 March 2001
Work Opportunity Improvement Act of 2001 - Amends the Internal Revenue Code to: (1) permanently extend the work opportunity credit; (2) permanently extend the temporary incentives for employing long-term family assistance recipients; and (3) redefine the term "qualified food stamp recipient" to raise the upper age limit from 25 to 51.
United States · United States Congress · 27 March 2001
America's Prosperity Dividend Act of 2001 - Amends the Internal Revenue Code to treat an eligible taxpayer as having made a payment for any tax year of the lesser of the prior year's tax liability or a specified applicable amount against individual and employment taxes.
United States · United States Congress · 27 March 2001
Economic Stimulus Tax Cut Act of 2001 - Amends the Internal Revenue Code to treat an eligible taxpayer as having made a payment of the lesser of the prior year's tax liability or a specified applicable amount against individual and employment taxes. Reduces specified individual tax rates.
United States · United States Congress · 27 March 2001
Teacher Tax Relief Act of 2001 - Amends the Internal Revenue Code to exclude from gross income any deduction allowable for the qualified incidental expenses (up to a maximum of $400 annually) of an eligible elementary or secondary teacher (including a homeschooling parent).
United States · United States Congress · 27 March 2001
Tourism Revitalization Act of 2001 - Amends the Internal Revenue Code to repeal the current limitations on the deductions for: (1) meal and entertainment expenses; and (2) the travel expenses of a spouse or dependent.
United States · United States Congress · 27 March 2001
Medicare Early Access and Tax Credit Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to add a new part D (Purchase of Medicare Benefits by Certain Individuals Age 62-to-65 Years of Age) (Medicare buy-in) entitling to the same Medicare benefits as an individual entitled to benefits under Medicare part A (Hospital Insurance) and enrolled under Medicare part B (Supplementary Medical Insurance) an enrolled individual age 62 to 65 who: (1) would be eligible for such benefits if 65; but (2) is not eligible for benefits under a Federal health insurance program or a group health plan (other than merely through a Federal or State COBRA continuation provision) . Provides for the determination and payment of monthly premiums under the new part D program. Creates in the Treasury the Medicare Early Access Trust Fund to hold the premiums paid pursuant to this Act. Provides for oversight and accountability concerning the status of the Trust Fund. Amends SSA title XVIII to provide access to Medicare benefits to displaced workers age 55-to-62 and their spouses. Amends the Employee Retirement Income Security Act of 1974 (ERISA), the Public Health Service Act, and the Internal Revenue Code to provide for COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) continuation benefits for certain retired workers who lose retiree health coverage. Amends the Internal Revenue Code to provide an individual with a tax credit for 50 percent of certain COBRA continuation coverage premiums and Medicare buy-in premiums.
United States · United States Congress · 27 March 2001
Work Opportunity Improvement Act of 2001 - Amends the Internal Revenue Code to: (1) permanently extend the work opportunity credit; (2) permanently extend the temporary incentives for employing long-term family assistance recipients; and (3) redefine the term "qualified food stamp recipient" to raise the upper age limit from 25 to 51.
United States · United States Congress · 27 March 2001
Emergency Economic Growth Act of 2001 - Amends the Internal Revenue Code to treat each individual as having made a payment against the 1999 tax in an amount equal to five percent of the amount of such individual's net income tax for such taxable year.
United States · United States Congress · 27 March 2001
Investment Assets Security Act of 2001 - Amends the Internal Revenue Code to reduce from one year to six months the holding period of investment assets required for long-term capital gain (or loss) treatment.
United States · United States Congress · 27 March 2001
Community Savings and Investment Act of 2001 - Amends the Internal Revenue Code to: (1) establish a separate tax rate for a qualified community lender; and (2) permit the exclusion from gross income of distressed community banking income.
United States · United States Congress · 27 March 2001
Sets forth the rule (modified closed) for the consideration of H.Con. Res. 83 (congressional budget).
United States · United States Congress · 26 March 2001
Amends the Internal Revenue Code respecting the small ethanol producer credit to: (1) authorize credit allocation among a cooperative's patrons; (2) increase the gallon capacity for eligible producers; (3) make the credit a non-passive income credit; and (4) remove the credit from the alcohol fuel credit gross income inclusion.
United States · United States Congress · 26 March 2001
Real AMT Relief Act of 2001 - Amends the Internal Revenue Code to provide for a graduated phaseout of the alternative minimum tax (AMT) on individuals (such tax to be eliminated for individuals as of 2005). Provides for coordination with: (1) income averaging for farmers; and (2) the child care credit. Increases the gross receipts test, including the first three-year period, for the small corporation AMT exemption.
United States · United States Congress · 26 March 2001
Amends the Internal Revenue Code with respect to the additional requirements for qualified veterans mortgage bonds to: (1) revise the definition of a qualified veteran to mean any veteran who served on active duty (removes the limitation of service before January 1, 1977) and who applied for financing before 30 years after leaving service (removes the additional proviso of, or before January 31, 1985); (2) revise the State veterans limit; (3) permit a State to elect to carry forward any of such unused limitation.
United States · United States Congress · 26 March 2001
Working Americans' Tax Rebate Act of 2001 - Amends the Internal Revenue Code to allow individuals a refund of up to five percent of the income tax otherwise payable for taxable year 2000. Treats each individual as having made a payment against his or her income tax for the first taxable year beginning in 2000 in an amount equal to five percent of the amount of such individual's net income tax. States that the amount treated as paid shall not be less than the lesser of: (1) the amount of the taxpayer's net income tax for such taxpayer's first taxable year beginning in 2000; or (2) $100 ($50 in the case of a married individual filing a separate return). Sets the maximum amount treated as paid at $500 ($250 in the case of a married individual filing a separate return). Makes estates, trusts, and nonresident alien individuals ineligible for such refund.
United States · United States Congress · 26 March 2001
Family-Owned Business Survival Act of 2001 - Amends the Internal Revenue Code to repeal the limitation on the estate tax deduction for family-owned business interests.
United States · United States Congress · 26 March 2001
Sets forth the congressional budget for the Government for FY 2002, including the appropriate budgetary levels for FY 2003 through 2011. Lists recommended budgetary levels and amounts, for FY 2001 through 2011, with respect to: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) surpluses; and (5) public debt. Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY 2001 through 2011. Sets forth committee reconciliation instructions. Provides for certain reserve funds, including those for emergencies, Medicare reform and prescription drug coverage, special education, tax cuts, and debt reduction.
United States · United States Congress · 23 March 2001
No Taxation Without Representation Act of 2001 - States that notwithstanding any other provision of law, the community of American citizens who are residents of the District constituting the seat of government of the United States shall have full voting representation in the Congress. Amends the Internal Revenue Code to provide a tax exemption to District of Columbia residents for years during which such residents do not have full voting representation in the Congress.
United States · United States Congress · 23 March 2001
Community Savings and Investment Act of 2001 - Amends the Internal Revenue Code to: (1) establish a separate tax rate for a qualified community lender; and (2) permit the exclusion from gross income of distressed community banking income.
United States · United States Congress · 22 March 2001
Amends the Internal Revenue Code revise the excise tax on tires to impose on truck tires of the type used on highway vehicles, if wholly or in part made of rubber, sold by the manufacturer, producer, or importer a tax equal to 8 cents for each 10 pounds of the tire load capacity in excess of 3500 pounds.
United States · United States Congress · 22 March 2001
Amends the Internal Revenue Code to classify any natural gas gathering line as seven-year property for purposes of depreciation. Defines natural gas gathering line.
United States · United States Congress · 22 March 2001
Energy Security and Tax Incentive Policy Act of 2001 - Amends the Internal Revenue Code with respect to establishing and revising tax credits and deductions concerning: (1) energy efficient property used in business; (2) residential energy systems; (3) electricity facilities and production; (4) commercial applications of advanced clean coal technologies; (5) heating fuels and storage; and (6) oil and gas production and petroleum products.
United States · United States Congress · 22 March 2001
American Health Security Act of 2001 - Establishes the American Health Security Program to be administered by the States. Requires a State to establish a State health security program (program) to receive Federal health care funding. Entitles every individual who is a U.S. resident and is a U.S. citizen or national or a lawful resident alien to benefits under a program. Makes benefits portable. Supersedes titles XVIII (Medicare) and XIX (Medicaid) of the Social Security Act, the Federal Employees Health Benefits Program, and the Civilian Health and Medical Program of the Uniformed Services (CHAMPUS). Prohibits: (1) deductibles, coinsurance, or copayments for acute care and preventive benefits, subject to exception; (2) providers from charging a patient for covered services; and (3) duplicative private insurance. Considers a health care provider to be qualified if the provider is licensed or certified and meets State law requirements, Federal requirements, and additional standards specified by the Board. Establishes the American Health Security Standards Board (the Board) to develop policies and procedures for enrollment, benefits, provider participation, national and State funding levels, assisting programs with planning for capital expenditures and service delivery, and other functions. Mandates uniform reporting standards. Establishes the American Health Security Quality Council to review and evaluate: (1) practice guidelines; (2) standards of quality, performance measures, and medical review criteria; and (3) develop minimum competence criteria. Directs the Board to establish a national health security budget specifying the total expenditures to be made by the Federal Government and the States for covered health care services. Amends the Internal Revenue Code to create the American Health Security Trust Fund and appropriates to the Fund specified tax liabilities and current health program receipts.
United States · United States Congress · 22 March 2001
Marriage Penalty Relief Act - Amends the Internal Revenue Code (the Code) to permit a husband and wife to make a combined return of income taxes under which: (1) a separate taxable income is determined for each spouse by applying the rules provided in this Act; and (2) the tax imposed by section 1 (tax rates on individuals) of the Code is the aggregate amount resulting from applying the separate rates set forth in section 1(c) (rates applicable to unmarried individuals) to each such taxable income.