Taxation

Kids First Act of 2005

United States · United States Congress · 14 April 2005

Kids First Act of 2005 - Amends title XIX (Medicaid) of the Social Security Act (SSA) to give States the option to receive 100 percent Federal medical assistance percentage (FMAP) for medical assistance to children in poverty in exchange for expanded coverage of children in working poor families under Medicaid or SCHIP (SSA title XXI (State Children's Health Insurance)). Eliminates the cap on SCHIP funding for States that expand eligibility for children. Gives States the option to: (1) provide wrap-around SCHIP coverage to children who have other health coverage; (2) enroll low-income children of State employees in SCHIP; (3) provide optional coverage of legal immigrant children under Medicaid and SCHIP; and (4) provide for passive renewal of eligibility for children under Medicaid and SCHIP. Amends the Internal Revenue Code to provide for: (1) a refundable income tax credit for health insurance coverage of children; and (2) forfeiture of the personal tax exemption for any child not covered by health insurance. Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Public Health Service Act to require group market health insurers to offer a dependent coverage option for workers and other individuals with children.

To amend title 10, United States Code, to provide a temporary five-year increase in the minimum end-strength levels for active-duty personnel for the Armed Forces, to increase the number of Special Operations Forces, and for other purposes.

United States · United States Congress · 14 April 2005

Increases during FY 2006 through 2010 the minimum active-duty end strength levels for the Armed Forces. Directs the Secretary of Defense to manage the selection, training, and retention of Special Operations Forces so that the total number of such personnel is increased by 2,000 at the end of each of fiscal years 2006 through 2010, thus equaling a total increase of 10,000.

Egyptian Counterterrorism and Political Reform Act

United States · United States Congress · 14 April 2005

Egyptian Counterterrorism and Political Reform Act - Prohibits military assistance to Egypt beginning in FY 2006 unless the President determines and certifies to Congress that it is in the national security interests to provide assistance for a given fiscal year. Expresses the sense of Congress that: (1) funds that would have been provided for military assistance should be given in the form of economic support fund assistance and not used by the armed forces of Egypt; (2) the President should certify the establishment of procedures to ensure access by the Comptroller General to appropriate financial information in order to review the use of these funds; and (3) the agreement among the United States, Egypt, and Israel to decrease the overall amount of U.S. foreign assistance for both countries should continue.

Stem Cell Research Investment Act of 2005

United States · United States Congress · 14 April 2005

Stem Cell Research Investment Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified stem cell research bonds. Defines "qualified stem cell research bond" as any bond issued by a State or local government, 95 percent of the proceeds of which are to be used for interdisciplinary scientific and medical research relating to stem cells, therapy development relating to stem cells, and development of pharmacologies and treatments through clinical trials relating to stem cells. Imposes certain limitations on the use of stem cells that are supported by a bond issuance under this Act. Sets a national limitation in 2006 through 2008 of $10 billion on the issuance of stem cell research bonds. Terminates the authority to issue such bonds after FY 2008.

VETS Act of 2005

United States · United States Congress · 14 April 2005

Veterans' Employment Transition Support Act of 2005 or the VETS Act of 2005 - Amends the Internal Revenue Code to allow employers a general business tax credit for hiring veterans who served in a combat zone or a hazardous duty area and were honorably discharged from active duty. Sets the amount of such credit at 40 percent of the first-year wages of such veterans and increases the percentage of such credit for disabled veterans based upon their disability ratings.

To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for the depreciation of certain leasehold improvements.

United States · United States Congress · 14 April 2005

Amends the Internal Revenue Code to make permanent the 15-year recovery period for the depreciation of qualified leasehold improvement property (property held and improved by a lessor).

District of Columbia Budget Autonomy Act of 2005

United States · United States Congress · 14 April 2005

District of Columbia Budget Autonomy Act of 2005 - Amends the District of Columbia Home Rule Act to provide that the District of Columbia budget passed by the Council of the District of Columbia shall be enacted without referral to the President or approval by the Congress, unless it is the budget for a fiscal year which is a control year. Prohibits the Mayor of the District during a control year from transmitting the budget, or amendments or supplements thereto, to the President until the completion of the budget procedures contained in this Act and the District of Columbia Financial Responsibility and Management Assistance Act of 1995. Prohibits obligations or expenditures by District government officers and employees without the Council's approval and in the case of a control year, congressional approval. Allows the Council to reenact provisions of any line-item veto by the Mayor in a budget Act without submitting such veto to the President, unless such item or provision is contained in a budget act for a control year. Permits hiring of full or part-time District government employees and their transfer among programs only if such position is authorized by an Act of the Council or, in the case of a control year, an Act of Congress.

LEGISLATIVE BRANCH APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 13 April 2005

AGRICULTURE, RURAL DEVELOPMENT, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 13 April 2005

Social Security Benefits Tax Relief Act of 2005

United States · United States Congress · 13 April 2005

Social Security Benefits Tax Relief Act of 2005 - Amends the Internal Revenue Code to repeal the 85 percent maximum tax rate on Social Security and Railroad Retirement benefits enacted by the Omnibus Budget Reconciliation Act of 1993. Appropriates, from the general fund, to the Hospital Insurance Trust Fund amounts equal to the reduction in revenues resulting from this repeal.

A bill to amend the Internal Revenue Code of 1986 to treat controlled foreign corporations established in tax havens as domestic corporations.

United States · United States Congress · 13 April 2005

Amends the Internal Revenue Code to treat certain controlled foreign corporations created or organized under the laws of a tax-haven country as domestic corporations for tax purposes. Sets forth a list of "tax-haven countries" and grants the Secretary of the Treasury authority to remove or add a country from such list.

Workforce Health Improvement Program Act of 2005

United States · United States Congress · 13 April 2005

Workforce Health Improvement Program Act of 2005 - Amends the Internal Revenue Code to exclude from the gross income of employees: (1) the value of any on-premises employer-provided athletic facility; and (2) fees, dues, or membership expenses paid to an athletic or fitness facility by an employer for its employees, but not exceeding $900 per employee per year. Allows employers a tax deduction for fees, dues, or membership expenses paid to an athletic or fitness facility. Limits the amount of such deduction to $900 per employee per year.

To amend title 10, United States Code, to provide for the inclusion of hazardous duty pay and diving pay in the computation of military retired pay for members of the Armed Forces with extensive hazardous duty experience, to require a Comptroller General study on the need for a tax credit for businesses that employ members of the National Guard and Reserve, and to require a report by the Secretary of Defense on the expansion of the Junior ROTC and similar military programs for young people.

United States · United States Congress · 13 April 2005

Includes hazardous duty pay and diving duty special pay received for at least 60 months as qualifying pay in the computation of military retired pay. Directs the Comptroller General to study the possibility of tax credits or small business loan incentives for businesses that employ National Guard and reserve personnel. Directs the Secretary of Defense to report to Congress on an assessment of the feasibility and desirability of expanding the Junior Reserve Officers' Training Corps (ROTC) program of each of the military departments, the Civil Air Patrol, the Naval Sea Cadet Corps, and the Young Marines of the Marine Corps League.

To modify the calculation of back pay for persons who were approved for promotion as members of the Navy and Marine Corps while interned as prisoners of war during World War II to take into account changes in the Consumer Price Index.

United States · United States Congress · 13 April 2005

Amends the Floyd D. Spence National Defense Authorization Act for Fiscal Year 2001 to increase the amount of back pay received by members of the Navy and Marine Corps selected for promotion while interned as prisoners of war during World War II to reflect increases in the cost of living since basic pay was paid to or for that person.

Indiana Dunes National Lakeshore Corrections Act

United States · United States Congress · 13 April 2005

Indiana Dunes National Lakeshore Corrections Act - Permits the Secretary of the Interior, with respect to the Indiana Dunes National Lakeshore in Indiana, to: (1) accept donations of lands located outside the present boundaries of the Lakeshore if they are either contiguous or separated from such lands by only a right-of-way; and (2) make acquisitions to the boundaries of the Lakeshore from units of State or local government by satisfaction of delinquent State or local taxes.

Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

United States · United States Congress · 13 April 2005

Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005 - Amends the Internal Revenue Code to revise the estate tax exclusion for family-owned business interests. Repeals the maximum $675,000 deduction for such interests and allows heirs of qualified interests to exclude the adjusted value of such interests from the gross estate. Defines "qualified family-owned business interests" and revises ownership requirements and material participation rules applicable to family-owned business interests qualifying for the estate tax exclusion. Provides that qualified family-owned business interests and spousal property acquired from a decedent shall be treated as transferred by gift and that the basis of such property shall be the lesser of the adjusted basis of the decedent, or the fair market value of such property at the date of the decedent's death (thus eliminating estate tax on such property).

Estate Tax Reduction Act of 2005

United States · United States Congress · 13 April 2005

Estate Tax Reduction Act of 2005 - Amends the Internal Revenue Code to reduce estate tax rates and increase the unified estate tax credit to $3 million, with an inflation adjustment to such credit amount beginning in 2006.

Taxpayer Protection Act of 2005

United States · United States Congress · 13 April 2005

Taxpayer Protection Act of 2005 - Amends the Internal Revenue Code to repeal provisions enacted by the American Jobs Creation Act of 2004 authorizing the Secretary of the Treasury to enter into contracts with private collection agencies for the collection of taxes.

Comprehensive Transform America Transaction Fee Act of 2005

United States · United States Congress · 13 April 2005

Comprehensive Transform America Transaction Fee Act of 2005 - Directs the Secretary of the Treasury to conduct an in-depth study on the implementation of a transaction fee in the United States to replace all existing Federal taxes. Sets forth guidelines for such study, including: (1) an identification of the transactions to which such fee would apply; (2) exclusions from such fee; (3) the rate of such fee; (4) potential uses for revenue from such fee; (5) progressivity standards; and (6) general matters, including point of liability for such fee and responsibility for collection. Requires the Secretary to report to Congress on the results of such study within one year after the enactment of this Act with a comprehensive analysis of various aspects of the transaction fee, including revenue generation, impact on the national economy, and implementation.

Public Good IRA Rollover Act

United States · United States Congress · 13 April 2005

Public Good IRA Rollover Act - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes.

To match willing United States workers with employers, to increase and fairly apportion H-2B visas, and to ensure that H-2B visas serve their intended purpose.

United States · United States Congress · 13 April 2005

Amends the Immigration and Nationality Act to prohibit the admission of aliens as H-2B (temporary nonagricultural worker) nonimmigrants unless the employer has filed with the Secretaries of Homeland Security and Labor: (1) an attestation stating that the employer advertised each such position on America's Job Bank for at least 14 consecutive days; and (2) documentation showing the number of jobs posted by the employer and the number of resumes received in response. Makes employers who submit false or inaccurate documentation ineligible to petition for H-2B nonimmigrants for specified periods. Increases to 131,000 the number of aliens who may be granted H-2B status in any fiscal year (currently, 66,000). Requires not more than half of such number to be granted in the first six months of the fiscal year. Precludes derivative status for the spouses and minor children of aliens granted H-3 (trainee) nonimmigrant status who themselves hold H-2B status. Requires aliens seeking H-2B nonimmigrant status to execute a contract: (1) stating that they understand the terms of such status; (2) agreeing to depart in full compliance with the entry-exit system (when implemented) and to appear before an immigration inspector; and (3) affirming their understanding that failing to so depart will result in permanent ineligibility for an immigrant or nonimmigrant visa. Requires all employers of H-2B nonimmigrants to participate in the basic pilot (employment eligibility verification) program. Eliminates the diversity immigrant program. Reduces the worldwide level of employment-based immigrants. Eliminates the category of "other workers" from the preference allocation for employment-based immigrants. Amends the Nicaraguan Adjustment and Central American Relief Act to reflect elimination of the above-referenced programs. Inserts a provision temporarily reducing visas for the adult brothers and sisters of U.S. citizens.

To amend the Internal Revenue Code of 1986 to increase the age limit for the child tax credit.

United States · United States Congress · 13 April 2005

Amends the Internal Revenue Code to increase the age limit for a qualifying child under the child tax credit from 17 to 19 years.

To amend the Internal Revenue Code of 1986 to extend for two years the higher exemption amounts under the alternative minimum tax for individuals and to adjust the exemption amounts and phaseout thresholds in the alternative minimum tax for inflation.

United States · United States Congress · 13 April 2005

Amends the Internal Revenue Code to: (1) extend the increased exemption from the alternative minimum tax for individual taxpayers for two additional years; and (2) adjust for inflation such increased exemption amounts, the exemption amount for corporations, and the phaseout thresholds applicable to individual taxpayers with certain levels of alternative minimum taxable income.

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 12 April 2005

AGRICULTURE, RURAL DEVELOPMENT, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 12 April 2005

AGRICULTURE, RURAL DEVELOPMENT, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 12 April 2005

Highway Funding Equity Act of 2005

United States · United States Congress · 12 April 2005

Highway Funding Equity Act of 2005 - Amends Federal highway law to revise Federal highway minimum guarantee requirements. Requires the Secretary of Transportation, for each of FY 2005 through 2009, to allocate among the States amounts sufficient to ensure that the percentage for each State of the total apportionments for the fiscal year for certain Federal-aid highway programs (including the basic minimum guarantee under this Act) equals or exceeds 95 percent of the ratio that the estimated gas tax payments attributable to highway users in the State paid into the Highway Trust Fund (HTF) bears to such payments attributable to highway users in all States (with a specified exception for any State having a population density of less than 50 individuals per square mile). Provides for: (1) the programmatic distribution of funds above $2.8 billion for certain Federal-aid highway programs; (2) the apportionment of the remainder of funds to the States; and (3) required adjustments where the sum of State percentages exceeds 100 percent.

Enhanced Energy Infrastructure and Technology Tax Act of 2005

United States · United States Congress · 12 April 2005

Amends the Internal Revenue Code to: (1) assign a seven-year depreciation recovery period to natural gas gathering lines; (2) assign a 15-year depreciation recovery period to national gas distribution lines and certain electric transmission property; (3) allow a 60-month amortization period for certain atmospheric pollution control facilities; (4) classify the tax credit for producing fuel from a nonconventional source as a business tax credit; (5) modify rules for the funding of nuclear decommissioning costs; (6) exempt certain prepayments for natural gas from arbitrage bond rules; and (7) expand the definition of small refiner for proposes of the exemption from limitations on the oil depletion allowance. Allows a tax credit for: (1) residential solar hot water, photovoltaic, or fuel cell property; (2) investment in qualified fuel cell property; (3) investment in advanced lean burn technology motor vehicles; and (4) energy efficient improvements to existing residences. Reduces the motor fuel excise tax on certain water-based mixtures of diesel fuel. Allows a 24-month amortization period for delay rental payments for the development of oil and gas wells within the United States and for certain geological and geophysical expenditures for oil and gas exploration in the United States. Allows an offset against alternative minimum tax liability for: (1) the tax credit for residential solar hot water, photovoltaic, or fuel cell property and for energy efficient improvements to existing homes; and (2) certain business tax credits relating to energy properties.

To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3,500,000.

United States · United States Congress · 12 April 2005

Amends the Internal Revenue Code to: (1) restore the tax on estates and generation-skipping transfers; (2) repeal the termination of provisions allowing a step-up in basis for property transferred by a decedent; and (3) increase the estate tax exclusion amount to $3.5 million, with an annual inflation adjustment to such amount beginning in 2007.

Simplify Tax Filing for Seniors Act of 2005

United States · United States Congress · 12 April 2005

Simplify Tax Filing for Seniors Act of 2005 - Directs the Secretary of the Treasury to make available a new Federal income tax Form 1040S (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.

Childhood Adoption Act of 2005

United States · United States Congress · 12 April 2005

Childhood Adoption Act of 2005 - Amends the Internal Revenue Code to: (1) increase the tax credit for adoption expenses from $10,000 to $15,000; (2) make such tax credit refundable; and (3) increase the exclusion from gross income for employer-paid adoption expenses from $10,000 to $15,000. Amends title IV, part E (Federal Payments for Foster Care and Adoption Assistance) of the Social Security Act to increase: (1) levels of adoption incentive payments payable to States under the adoption assistance program; and (2) funding for adoption incentive payments for FY 2006 through 2008.

To amend the Internal Revenue Code of 1986 to permanently reduce estate and gift tax rates to 30 percent, to increase the exclusion equivalent of the unified credit to $10,000,000, and to increase the annual gift tax exclusion to $50,000.

United States · United States Congress · 12 April 2005

Amends the Internal Revenue Code to: (1) reduce the top marginal tax rate for estates and gifts to 30 percent; (2) increase the estate tax exclusion amount to $10 million, with an annual adjustment for inflation; and (3) increase the annual gift tax exclusion from $10,000 to $50,000.

Collegiate Housing and Infrastructure Act of 2005

United States · United States Congress · 12 April 2005

Collegiate Housing and Infrastructure Act of 2005 - Amends the Internal Revenue Code to allow tax-exempt charitable or educational organizations to make collegiate housing and infrastructure improvement grants to certain tax-exempt social clubs (e.g., college fraternities and sororities) so long as all of the active members of such clubs are full-time students at the college or university with which such clubs are associated. Defines "collegiate housing and infrastructure grants" to include grants to provide, improve, operate, or maintain collegiate housing.

To amend the Internal Revenue Code of 1986 to increase the exclusion equivalent of the unified credit allowed against the estate tax to $7,500,000 and to establish a flat estate tax rate.

United States · United States Congress · 12 April 2005

Amends the Internal Revenue Code to: (1) increase the estate tax exclusion to $7.5 million; and (2) establish a single estate tax rate of 27.5 percent. Repeals certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) relating to estate, gift, and generation-skpping transfer taxes.

Guard and Reserve Enhanced Benefits Act of 2005

United States · United States Congress · 12 April 2005

Guard and Reserve Enhanced Benefits Act of 2005 - Provides for benefits for members of the National Guard and Reserves who serve extended periods on active duty, including special assistance to them and their families through: (1) family leave, under the Family and Medical Leave Act of 1993; (2) child care, under the Child Care and Development Block Grant Act of 1990; (3) educational assistance, under Federal law relating to Montgomery GI Bill benefits; (4) student loan deferments, under the Higher Education Act of 1965; (5) preservation of educational status and tuition, under the Servicemembers Civil Relief Act; (6) non-reduction in pay in the case of those who are Federal employees, under Federal civil service law; (7) a tax credit to their employers for the income differential between their wages and their military pay, or a self-employment credit, under the Internal Revenue Code; (8) reduced minimum age for non-regular service retired pay, under Federal law relating to the Armed Services; and (9) health benefits, through expanded eligibility for the TRICARE program and continuation of non-TRICARE plan coverage for dependents, under Federal law relating to the Armed Services.

Insular Areas Tax Credit Act

United States · United States Congress · 12 April 2005

Insular Areas Tax Credit Act - Amends the Internal Revenue Code to require the United States to pay an estimate of the portion of the applicable earned income and child tax credit to Guam and the Virgin Islands during the first three and one half months of calendar year 2006 and each calendar year thereafter. Provides for adjustments to and supplemental payments of such tax credit payments.

Dietary Supplement and Healthy Meal Replacement Tax Parity Act of 2005

United States · United States Congress · 12 April 2005

Dietary Supplement and Healthy Meal Replacement Tax Parity Act of 2005 - Amends the Internal Revenue Code to qualify dietary supplements and meal replacement products that are authorized by the Food and Drug Administration (FDA) to make certain health claims as tax deductible medical expenses.

Taxpayer Abuse Prevention Act of 2005

United States · United States Congress · 12 April 2005

Taxpayer Abuse Prevention Act of 2005 - Amends the Internal Revenue Code to repeal provisions enacted by the American Jobs Creation Act of 2004 authorizing the Secretary of the Treasury to enter into contracts with private collection agencies for the collection of taxes.

Certain and Immediate Estate Tax Relief Act of 2005

United States · United States Congress · 12 April 2005

Certain and Immediate Estate Tax Relief Act of 2005 - Restores the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent, previously repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act ( Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) provide for an immediate increase to $3 million of the estate tax exclusion (eliminating the phase-in period); (2) impose a maximum estate tax rate of 47 percent; (3) restore the phaseout of graduated estate tax rates and the unified credit against the estate tax; (4) set forth estate valuation rules for certain transfers of nonbusiness assets; and (5) limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent.

Small Business Tax Flexibility Act of 2005

United States · United States Congress · 12 April 2005

Small Business Tax Flexibility Act of 2005 - Amends the Internal Revenue Code to allow certain S corporations a one-time election to transfer money or property to a partnership without recognition of gain or loss by the shareholders of such corporation. Treats all distributions of the money or property of an electing S corporation as a distribution in part or full payment in exchange for the stock of such corporation. Requires transferee partnerships to maintain the continuity of the S corporation's business for five years after the conversion to partnership form or pay a recapture tax in the year in which failure to maintain such continuity first occurs.

Renewing the Dream Tax Credit Act

United States · United States Congress · 12 April 2005

Renewing the Dream Tax Credit Act - Amends the Internal Revenue Code to allow homebuilders and investors a general business tax credit for building or substantially rehabilitating residences for low and moderate-income individuals in certain areas, including a rural area, an Indian reservation, or an area of chronic economic distress. Sets forth rules for the calculation of such credit and its administration and allocation by the States.

Providing for consideration of the bill (H.R. 8) to make the repeal of the estate tax permanent.

United States · United States Congress · 12 April 2005

Sets forth the rule for consideration of the bill (H.R. 8) to make the repeal of the estate tax permanent.

Federal Internet Tax Prohibition Act of 2005

United States · United States Congress · 11 April 2005

Federal Internet Tax Prohibition Act of 2005 - Amends the Internal Revenue Code to exempt Internet access service from the excise tax on communication services.

Corps of Engineers Modernization and Improvement Act of 2005

United States · United States Congress · 11 April 2005

Corps of Engineers Modernization and Improvement Act of 2005 - Amends the Flood Control Act of 1970 to require: (1) the Secretary of the Army to revise the planning guidelines, regulations, and circulars of the Corps of Engineers to comply with specified requirements, including encouraging ecosystem restoration through the restoration of hydrologic and geomorphic processes; and (2) the Corps to develop and at least every four years update an integrated national plan to manage, rehabilitate, and modernize inland waterway and port infrastructure to meet national economic and environmental needs. Directs the Secretary to ensure that each feasibility report, general reevaluation report, and environmental impact statement of a water resource project is subject to review by an independent panel of experts if: (1) the project has an estimated total cost of more than $25 million; (2) the Governor of an affected State requests such review; (3) the head of a Federal agency charged with reviewing the project determines that it is likely to have a significant adverse impact; or (4) the Secretary determines that the project is controversial. Directs the Inspector General of the Army to appoint a Director of Independent Review to establish panels of experts to review water resources projects. Sets forth review guidelines and requirements. Permits the Secretary to recommend a project for congressional authorization only if it has projected national benefits that are at least 1.5 times as great as the estimated total project costs. Requires the Secretary to identify for deauthorization those projects whose projected remaining benefits do not meet that threshold. Sets forth revised provisions governing cost sharing for operation and maintenance of inland waterways. Establishes requirements for: (1) full mitigation of losses of aquatic and terrestrial resources, fish, and wildlife for approval of water resources projects; and (2) a record-keeping system to track mitigation for each each project constructed, operated, or maintained by the Secretary. Requires the Chief of Engineers, annually, to submit a fiscal transparency report on Corps expenditures and projects expected to be completed. Provides for deauthorization of projects for which federal funds have not been obligated over specified periods.

Make College Affordable Act of 2005

United States · United States Congress · 11 April 2005

Make College Affordable Act of 2005 - Amends the Internal Revenue Code to: (1) increase the amount of the tax deduction for higher education tuition and related expenses; and (2) allow a tax credit for up to $1,500 of the interest paid annually on certain student loans for higher education expenses. Reduces the allowable amount of both the tax deduction and the tax credit based upon taxpayer adjusted gross income levels. Provides for an inflation adjustment for calendar years after 2005 to such adjusted gross income levels. Makes the tax deduction for higher education tuition and related expenses permanent.

A bill to amend the Internal Revenue Code of 1986 to allow look-through treatment of payments between related foreign corporations.

United States · United States Congress · 11 April 2005

Amends the Internal Revenue Code to exempt dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign personal holding company income (thus permitting tax deferral of such income).

A bill to amend the Office of Federal Procurement Policy Act to establish a governmentwide policy requiring competition in certain executive agency procurements, and for other purposes.

United States · United States Congress · 11 April 2005

Amends the Office of Federal Procurement Policy Act to require an executive agency, when procuring Federal Prison Industries (FPI) products or services, to: (1) use competitive procedures; or (2) make an individual purchase under a multiple award contract in accordance with applicable competition requirements. Requires an agency to: (1) timely notify FPI of procurements; (2) consider a timely offer from FPI in the same manner as other offers; and (3) consider a timely offer from FPI without limitation as to the dollar value, unless competition is limited to small business concerns. Outlines exceptions to the competitive procedures requirement. Prohibits requiring a contractor to use FPI as a subcontractor or supplier. Prohibits access to classified and sensitive information by an inmate worker. Restricts the interstate and foreign commerce of services resulting from convict labor. Subjects knowing violators of such restrictions to fine or imprisonment, or both. Requires Federal, State, and local prison work programs to meet specified requirements. Allows FPI to sell or donate a product or service to tax-exempt charitable organizations which may then donate or sell any such product or service to low-income individuals. Establishes the Enhanced In-Prison Educational and Vocational Assessment and Training Program within the FPI. Directs FPI to increase inmate employment by producing products for the public sector that would otherwise be produced outside the United States. Authorizes priority placement in the Bureau of Prisons for FPI employees displaced because FPI loses business following enactment.

To amend the Internal Revenue Code of 1986 to increase the exemption amounts for individuals under the alternative minimum tax.

United States · United States Congress · 8 April 2005

Amends the Internal Revenue Code to increase the exemption amount under the alternative minimum tax to $100,000 for married taxpayers filing joint tax returns and surviving spouses and to $75,000 for unmarried taxpayers. Increases the phase-out levels for calculating reductions in the such exemption amount and the rate of phase-out. Provides for an inflation adjustment to the exemption amount and phase-out level. Exempts the amendments made by this Act from the general terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (December 31, 2010).

Federal Energy Management Improvement Act of 2005

United States · United States Congress · 8 April 2005

Federal Energy Management Improvement Act of 2005 - Amends the National Energy Conservation Policy Act (NECPA) to update energy reduction goals for federal buildings for FY2006-FY2015. Cites conditions that exempt federal buildings from having to meet those goals. Includes within NECPA purview Federal Energy Management Program (FEMP)-designated products and products rated for energy efficiency under an Energy Star program. Prescribes procedural guidelines for mandatory procurement of energy efficient products by the head of an executive agency. Prohibits all federal agencies combined from: (1) entering into more than a total of 100 Energy Savings Performance Contracts; and (2) making payments under all contracts which exceed a total of $500 million. Requires each federal agency to appoint a coordinator for Energy Savings Performance Contracts to monitor the number of such contracts for that agency and the investment value of each contract. Directs the President to seek to ensure that the total amount of electric energy consumed by the federal government during any fiscal year includes specified percentages of renewable energy. Amends the Atomic Energy Act of 1954 to authorize the Nuclear Regulatory Commission (NRC) to exempt from the federal civil service pension offset any annuitants with critical skills who were formerly a NRC employees but are hired as consultants. Amends the Energy Reorganization Act of 1974 to extend whistleblower protections to employees of NRC contractors or subcontractors. Allows federal agencies to qualify for a waiver of the requirement for the use of alternative fuels by dual-fueled vehicles in a particular geographic area where the alternative fuel is not reasonably available or its cost is unreasonably more expansive compared to gasoline. Amends the Department of Energy Organization Act to create an additional Assistant Secretary position for management of nuclear energy issues. Directs the Secretary of Energy to study and report to Congress on the energy conservation implications of the widespread adoption of telecommuting by federal employees in the United States.

Collegiate Housing and Infrastructure Act of 2005

United States · United States Congress · 8 April 2005

Collegiate Housing and Infrastructure Act of 2005 - Amends the Internal Revenue Code to permit organizations organized and operated exclusively for charitable or educational purposes and which make collegiate housing and infrastructure improvement grants to continue to be treated as tax-exempt organizations so long as all of the active members of the recipient organization are full-time students at the college or university with which the recipient organization is associated.