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Bill· HRH.R. 4048 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.

United States · United States Congress · 24 February 1977

Amends the Internal Revenue Code to allow an individual income tax credit for 25 percent of the amounts paid or incurred for the purchase and installation of qualified insulative materials or heating equipment in the taxpayer's principal residence. Limits the credit to $375, or $750 in the case of a joint return. Stipulates that to be considered qualified such improvements must meet heat loss reduction or heating efficiency criteria to be established by the Secretary of the Treasury in accordance with standards developed and prescribed by the National Bureau of Standards.

Bill· HRH.R. 4063 (95th)referred

Motor Vehicle Tax Repeal Act

United States · United States Congress · 24 February 1977

Motor Vehicle Tax Repeal Act - Repeals the excise tax on trucks, buses, and tractors and parts and accessories for such vehicles. Provides for the refund or credit of such taxes paid by the manufacturer, producer, or importer on items sold after January 1, 1977.

Bill· HRH.R. 4059 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt certain agricultural aircraft from the aircraft use tax, to provide for the refund of the gasoline tax to the agricultural aircraft operator.

United States · United States Congress · 24 February 1977

Amends the Internal Revenue Code to exempt aircraft used primarily for agricultural operation from the excise tax on civil aircraft. Provides for the refund of the excise tax on gasoline used for farming purposes in an aircraft to the aerial applicator who purchased it.

Bill· HRH.R. 4022 (95th)referred

Accelerated Depreciation Allowance Act

United States · United States Congress · 24 February 1977

Accelerated Depreciation Allowance Act - Amends the Internal Revenue Code to allow taxpayers to elect accelerated amortization (twice the allowable depreciation deduction) for manufacturing property placed in service in States having an unemployment rate which is greater than six percent between October 1, 1976 and October 1, 1981.

Bill· HRH.R. 3952 (95th)referred

Investment Tax Credit Act

United States · United States Congress · 23 February 1977

Investment Tax Credit Act - Amends the Internal Revenue Code to allow an additional investment tax credit for machinery and equipment placed in service on existing manufacturing plants or in nearby areas.

Bill· HRH.R. 3932 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt from Federal income taxation a trust established by a taxpayer for the purpose of providing care for certain mentally incompetent relatives of the taxpayer.

United States · United States Congress · 23 February 1977

Amends the Internal Revenue Code to exclude trusts which are established solely to provide care for individuals who are mentally incapable of caring for themselves from the taxation of trusts. Excludes from the beneficiary's gross income amounts paid from such trust to individuals other than their immediate families for the beneficiary's care and maintenance.

Bill· HRH.R. 3935 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide an additional income tax exemption for a taxpayer supporting a dependent who is mentally retarded.

United States · United States Congress · 23 February 1977

Amends the Internal Revenue Code to provide an additional personal exemption for each of the taxpayer's dependents who suffers from a medically demonstrable mental defect which prevents him from engaging in the mental activity normal to his age group, or in remunerative employment.

Bill· HRH.R. 3881 (95th)referred

Cigarette Health Protection Tax Act

United States · United States Congress · 23 February 1977

Cigarette Health Protection Tax Act - Amends the Internal Revenue Code to substitute a health protection tax on cigarettes manufactured in or imported into the United States for the present tax. Sets forth graduated tax rates based on the tar and nicotine content of each cigarette. Directs the Federal Trade Commission to determine the tar and nicotine content of each brand of cigarettes manufactured in or imported into the United States, and to certify these findings to the Secretary of the Treasury.

Bill· HRH.R. 3902 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt nonprofit volunteer firefighting or rescue organizations from the Federal excise taxes on gasoline, diesel fuel, and certain other articles and services.

United States · United States Congress · 23 February 1977

Amends the Internal Revenue Code to exempt nonprofit volunteer firefighting or rescue organizations from the excise tax on sales of special fuels, automotive parts, petroleum products, and communication services.

Bill· HRH.R. 3853 (95th)referred

Homeowners Tax Relief Act

United States · United States Congress · 23 February 1977

Homeowners Tax Relief Act - Allows a homeowner to depreciate the investment in his home in the same manner as residential property held for rental purposes is depreciated under the Internal Revenue Code. Imposes a tax deduction limitation of $1,500 annually. Provides that, if the taxpayer elects to depreciate his home, his tax basis will be decreased accordingly. Provides that the taxpayer who owns shares in a cooperative housing corporation will have similar depreciation tax relief as proposed for the individual home owner. Enables the taxpayer to deduct under the Internal Revenue Code up to $1,000 for amounts spent for maintenance of property. Enables a taxpayer to deduct as a capital loss, his economic loss on the sale of his home to the extent it does not exceed $5,000. Raises the non-recognition limitation for the sale of a home by persons 65 and over from $35,000 to $40,000. Provides a taxpayer 65 years of age or older with a $1,000 tax deduction if he has a life interest in a retirement home which represents an investment of at least $5,000.

Bill· HRH.R. 3845 (95th)referred

A bill to extend for an additional year (through the fiscal year 1978) the recently enacted 8-percent increase in social services funding for child care under title XX of the Social Security Act, and to provide for further increases in such funding thereafter to reflect rises in the cost of living.

United States · United States Congress · 23 February 1977

Extends through fiscal year 1978 an eight percent increase in social services funding for child care under Title XX (Grants to States for Services) of the Social Security Act. Directs that such funding after 1978 increase according to rises in the cost of living.

Bill· HRH.R. 3858 (95th)referred

A bill to provide that individuals who retired on disability before October 1, 1976, shall be entitled to the exclusion for disability payments under section 105 (d) of the Internal Revenue Code of 1954 without regard to the income limitation in such section.

United States · United States Congress · 23 February 1977

Amends the Tax Reform Act to provide an unlimited exclusion from gross income of disability payments received by persons who retired on or before October 1, 1976, and either retired on disability, or were entitled to retire on disability.

Bill· HRH.R. 3859 (95th)referred

A bill to repeal the carryover basis provisions added by the Tax Reform Act of 1976.

United States · United States Congress · 23 February 1977

Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.

Bill· HRH.R. 3854 (95th)referred

Older Americans Tax Savings Act

United States · United States Congress · 23 February 1977

Older Americans' Tax Savings Act - Allows a reimbursement under the Internal Revenue Code for property taxes to persons 65 and over. Limits such reimbursement to the lesser of $480, or the property taxes accrued, and to claimant whose household income is lower than $5,000.

Bill· HJRESH.J.Res. 280 (95th)referred

Joint resolution to enable the United States to organize and hold an international conference in the United States in fiscal year 1978 and authorize an appropriation therefor.

United States · United States Congress · 23 February 1977

Authorizes the Secretary of Health, Education, and Welfare to organize an international conference on heart disease, cancer, and stroke to be held in Washington, D.C. during fiscal year 1978. Authorizes the appropriation of $5,000,000 to carry out this resolution.

Bill· HRH.R. 3785 (95th)referred

A bill to provide that individuals who retired on disability before October 1, 1976, shall be entitled to the exclusion for disability payments under section 105(d) of the Internal Revenue Code of 1954 without regard to the income limitation in such section.

United States · United States Congress · 22 February 1977

Amends the Tax Reform Act to provide an unlimited exclusion from gross income of disability payments received by persons who retired on or before October 1, 1976, and either retired on disability, or were entitled to retire on disability.

Bill· HRH.R. 3777 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses incurred by a taxpayer in making repairs and improvements to his residence, and to allow the owner of rental housing to amortize at an accelerated rate the cost of rehabilitating or restoring such housing.

United States · United States Congress · 22 February 1977

Allows a tax deduction up to $750 for ordinary and necessary expenses incurred by a taxpayer under the Internal Revenue Code in making repairs and improvements to his residence during the taxable year. Allows the owner of rental housing to amortize at an accelerated rate (over a 60-month period) the cost of rehabilitating or restoring such housing. Authorizes the taxpayer to switch from such accelerated amortization to the regular depreciation deduction allowable under the Internal Revenue Code for property used in a trade or business or held for the production of income.

Bill· HRH.R. 3812 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to treat the residence of a State legislator within the legislative district he represents as his home for tax purposes.

United States · United States Congress · 22 February 1977

Amends the Internal Revenue Code to restrict the amount of the deduction State legislators may take for living expenses while conducting legislative business to the daily dollar limitation to be established by the Secretary of the Treasury for each state legislature.

Bill· HRH.R. 3765 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt certain agricultural aircraft from the aircraft use tax, to provide for the refund of the gasoline tax to the agricultural aircraft operator.

United States · United States Congress · 22 February 1977

Amends the Internal Revenue Code to exempt aircraft used primarily for agricultural operation from the excise tax on civil aircraft. Provides for the refund of the excise tax on gasoline used for farming purposes in an aircraft to the aerial applicator who purchased it.

Bill· HRH.R. 3757 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt from treatment as an industrial development certain bond issues the proceeds of which are used for facilities for the furnishing of water and hydroelectric energy, or either.

United States · United States Congress · 22 February 1977

Amends the Internal Revenue Code to allow an income tax exclusion for the interest on governmental bonds the proceeds of which are used for facilities to furnish hydroelectric energy.

Bill· HRH.R. 3776 (95th)referred

Taxpayer Audit Disclosure Act

United States · United States Congress · 22 February 1977

Taxpayer Audit Disclosure Act - Requires the establishment of formal procedures and criteria for the selection of individual income tax returns for audit. Directs the Secretary of the Treasury or his delegate to provide any individual selected for auditing with a written notice which clearly specifies the reasons for and manner in which the return of such individual was selected for audit. Provides that the Secretary or his delegate shall furnish to such individual a written explanation which describes the audit procedure, the rights which a taxpayer may exercise during such procedure, the right of the taxpayer to make an administrative or judicial appeal from an adverse decision at the end of such procedure, and the right of the taxpayer to claim a refund. Requires the Secretary of the Treasury or his delegate to submit to the Joint Committee on Internal Revenue Taxation before September 30 of each year a report setting forth: (1) the number of individuals whose returns were selected for audit during the previous 12-month period; (2) a classification of individuals whose returns were audited during the previous 12-month period by, among other factors, income levels, geographic distribution, and profession; (3) the number of individuals audited during the previous 12-month period who were found to have made underpayments or overpayments of tax, together with summary statistics reflecting the percentage of such number, by income category, who made underpayments or overpayments of certain ranges of amounts (to be determined by the Secretary or his delegate); and (4) such other information as may be requested by the joint committee in accordance with the purposes of this Act.

Bill· HRH.R. 3778 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that pensions paid to retired policemen or firemen or their dependents, or to the widows or other survivors of deceased policemen or firemen, shall not be subject to the income tax.

United States · United States Congress · 22 February 1977

Amends the Internal Revenue Code to exclude from the income tax, pensions paid to retired policemen and firefighters, or to their survivors to the extent that such benefits are based on full-time service for a governmental entity.

Bill· HRH.R. 3762 (95th)referred

Solar Energy Incentives Act

United States · United States Congress · 22 February 1977

Solar Energy Incentive Act - Allows individuals a limited income tax credit for amounts expended for installation of solar heating and cooling equipment in the taxpayer's principal residence, and for that portion of the real property taxes attributable to such installation.

Bill· HRH.R. 3731 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the mileage rate used to determine the amount allowable as a deduction for the business use of automobiles shall be the same as the rate used to reimburse Federal employees.

United States · United States Congress · 22 February 1977

Amends the Internal Revenue code to limit the mileage rate for the business deduction for the use of automobiles to the same rate used to reimburse Federal employees for the use of automobiles.

Resolution· HCONRESH.Con.Res. 122 (95th)referred

Concurrent resolution revising the congressional budget for the U.S. Government for the fiscal year 1977.

United States · United States Congress · 22 February 1977

Sets forth the congressional budget for the United States Government for the year 1977. Provides that the recommended level of Federal revenues is $347,096,000,000 and the amount by which the aggregate level of Federal revenues should be decreased is $19,000,000,000. States that the appropriate level of total new budget authority is $440,662,000,000. Establishes the appropriate level of the public debt at $708,000,000,000. Sets forth the appropriate level of new budget authority and the estimated budget outlays for each major functional category.

Bill· SS. 928 (95th)referred

A bill to extend through fiscal year 1982 certain child nutrition programs under the National School Lunch Act and the Child Nutrition Act of 1966.

United States · United States Congress · 21 February 1977

Amends the National School Lunch Act to extend the authorization for (1) the Summer Food Service Program for children, (2) the Commodity Distribution Program, and (3) that part of the Act relating to the Trust Territory of the Pacific Islands, through fiscal year 1982. Amends the Child Nutrition Act of 1966 to extend the Nonfood Assistance Program through 1982.

Bill· SS. 749 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.

United States · United States Congress · 21 February 1977

Amends the Internal Revenue Code to exempt trade or business expenses incurred in providing day care services on a regular basis in a taxpayer's dwelling unit from the prohibition on deducting expenses with respect to a dwelling unit which is used by the taxpayer as his residence.

Bill· SS. 750 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for the reduction of certain excise taxes on the transportation of persons and property by air.

United States · United States Congress · 21 February 1977

Amends the Internal Revenue Code to reduce the rate of the airline ticket tax from eight percent to six percent upon the effective date of the imposition of an aircraft noise reduction surcharge approved by the Civil Aeronautics Board under a proposed amendment to title IV of the Federal Aviation Act of 1958 contained in the proposed Aircraft Noise Reduction Act of 1977. Reduces the rate of tax on transportation of property by airline from five percent to three percent upon the effective date of the imposition of the same noise reduction surcharge. Amends the Airport and Airway Revenue Act of 1970 (relating to permissible expenditures from the Airport and Airway Trust Fund) to allow Trust Fund monies to be used for the following two new purposes provided for in amendments to the Airport and Airway Development Act of 1970 contained in the proposed Aircraft Noise Reduction Act of 1977: (1) grants to aircraft operators for the purpose of retrofitting aircraft for noise reduction purposes; and (2) grants to airports under the Airport Development Aid Program for the purchase and installation of noise monitoring equipment.

Bill· HRH.R. 3713 (95th)referred

Investment Tax Credit Act

United States · United States Congress · 21 February 1977

Investment Tax Credit Act - Amends the Internal Revenue Code to allow an additional investment tax credit for machinery and equipment placed in service on existing manufacturing plants located in high unemployment areas, or in nearby areas.

Bill· HRH.R. 3705 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow taxpayers electing the standard deduction to take a separate deduction for charitable contributions and to allow low- and middle-income taxpayers a deduction of up to 200 percent of such contributions.

United States · United States Congress · 17 February 1977

Amends the Internal Revenue Code to allow individuals who elect the standard deduction to take a separate deduction for charitable contributions. Allows taxpayers with incomes of less than $29,000 to take a charitable deduction in excess of the actual amount of charitable contributions made, based on a specified adjustment factor.

Bill· HRH.R. 3688 (95th)referred

A bill to provide that the amendments to section 121 of the Internal Revenue Code of 1954 increasing from $20,000 to $35,000 the amount to which the adjusted sales price of a residence of an individual over age 65 is compared shall apply to taxable years beginning after December 31, 1975.

United States · United States Congress · 17 February 1977

Amends the Internal Revenue Code to provide that the Tax Reform Act's increase tax exclusion of gain on sales of residences of the aged shall apply to sales during, as well as after, 1976.

Bill· HRH.R. 3703 (95th)referred

A bill to repeal the carryover basis provisions added by the Tax Reform Act of 1976.

United States · United States Congress · 17 February 1977

Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.

Bill· HRH.R. 3649 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to encourage the employment of handicapped individuals by providing a tax credit for a certain portion of the wages paid to such individuals.

United States · United States Congress · 17 February 1977

Amends the Internal Revenue Code to allow employers to take the credit for expenses of work incentive programs for wages paid new, full-time handicapped employees over the first cumulative 12 months of their employment.

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