Taxation

ENERGY AND WATER, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 7 April 2005

DEPARTMENTS OF TRANSPORTATION, TREASURY, THE JUDICIARY, HOUSING AND URBAN DEVELOPMENT, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 7 April 2005

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 6 April 2005

DEPARTMENT OF DEFENSE APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 6 April 2005

DEPARTMENTS OF LABOR, HEALTH AND HUMAN SERVICES, EDUCATION, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 6 April 2005

Tribal Colleges and Universities Faculty Loan Forgiveness Act

United States · United States Congress · 6 April 2005

Tribal Colleges and Universities Teacher Loan Forgiveness Act - Amends the Higher Education Act of 1965 to provide for the cancellation of a specified percentage of the total amount of any Federal Perkins loan, Federal Family Education loan, or direct student loan for each year of employment (up to five) as a full-time teacher at a tribal college or university if the borrower is not in default on such loan. Prohibits a borrower from receiving, for the same service, both a benefit from this Act and a benefit from the National Community Service Act of 1990. Amends the Public Health Service Act to provide for repayment by the Secretary of Health and Human Services of educational loans for nurse training costs on behalf of nursing instructors at tribal colleges or universities, or any land-grant institution listed in the Equity in Educational Land-Grant Status Act of 1994. Provides that the amount of any loan forgiven under this Act shall not be treated as gross income for federal tax purposes.

Junk Fax Prevention Act of 2005

United States · United States Congress · 6 April 2005

Junk Fax Prevention Act of 2005 - Amends the Communications Act of 1934 to prohibit a person from using any telephone facsimile (fax) machine, computer, or other device to send, to another fax machine, an unsolicited advertisement to a person who has requested that such sender not send such advertisements, or to any other person unless: (1) the sender has an established business relationship with the person; and (2) the advertisement contains a conspicuous notice on its first page that the recipient may request not to be sent any further unsolicited advertisements, and includes a domestic telephone and fax number (neither of which can be a pay-per-call number) for sending such a request. Requires the Federal Communications Commission (FCC) to provide that a request not to send unsolicited advertisements complies with FCC requirements if: (1) the request identifies the recipient fax number to which the request relates; (2) the request is made to the telephone or fax number of the sender; and (3) the person making the request has not subsequently provided express invitation or permission to have such advertisements sent. Authorizes the FCC to allow professional tax-exempt trade associations to send unsolicited advertisements to their members in furtherance of association purposes. Requires the: (1) FCC to report annually to Congress on the enforcement of the above requirements; and (2) Comptroller General to study, and report to specified congressional committees on, complaints received by the FCC concerning unsolicited advertisements sent to fax machines.

Paperwork Relief for Small Business Act of 2005

United States · United States Congress · 6 April 2005

Paperwork Relief for Small Business Act of 2005 - Amends the Internal Revenue Code to permit taxpayers who reasonably expect to owe not more than $50,000 in annual taxes on wines and beer to make quarterly (rather than semimonthly) payments of such tax.

Safe, Accountable, Flexible, and Efficient Transportation Equity Act of 2005

United States · United States Congress · 6 April 2005

Safe, Accountable, Flexible, and Efficient Transportation Equity Act (SAFETEA) of 2005 - Reauthorizes the Federal-aid surface transportation program through FY 2009. Reauthorizes appropriations from the Highway Trust Fund (HTF) through FY 2009 for: (1) specified Federal-aid highway programs; (2) administrative expenses of the Federal Highway Administration; and (3) surface transportation research. Amends Federal highway law to establish the Equity bonus program to ensure that States receive a minimum 92 percent rate of return on the portion of excise fuel taxes it sends to the HTF with respect to the allocation of Federal funds to such States for specified highway projects. Directs the Secretary of Transportation to establish: (1) an infrastructure performance and maintenance program; (2) a freight transportation gateways program; (3) a uniform system to service Federal credit instruments; (4) a National Commission on Future Revenue Sources to Support the HTF and Finance the Needs of the Surface Transportation System; (5) a highway safety improvement program; (6) a safe routes to school program; (7) a surface transportation project delivery pilot program; (8) a planning capacity building initiative; (9) a highway stormwater discharge mitigation program; (10) a transportation systems management and operations program; (11) a real-time system management information program; (12) a multistate corridor program; (13) a border planning, operations, technology, and capacity improvement program; (14) a Puerto Rico highway program; (15) a transportation and community and system preservation program; (16) a commercial truck parking pilot program (including an interstate oasis program); (17) a Delta Region transportation development program; (18) a multistate international corridor development program; (19) centers for surface transportation excellence; and (20) an intelligent transportation system research and technical assistance program. Provides set-asides for FY 2005 through 2009 for interstate discretionary projects. Establishes a Surface Transportation Research Technology Advisory Committee. Requires the National Research Council to establish a new strategic highway research program. Authorizes the Secretary to provide grants to nonprofit institutions of higher learning to establish university transportation centers. Directs the Secretary to continue the deployment of the Transportation Analysis Simulation System (TRANSIMS). Sport Fishing and Recreational Boating Safety Act - Amends the Federal Aid in Sport Fish Restoration Act to provide for distribution of FY 2004 through 2009 appropriations, including those for the multistate conservation grant program. Amends the Solid Waste Disposal Act to direct the Administrator of the Environmental Protection Agency and each agency head to implement fully all procurement requirements and incentives, including Federal procurement guidelines, that provide for the use of cement and concrete incorporating recovered mineral component in cement or concrete projects.

A bill to amend the Internal Revenue Code of 1986 to reduce the tax on beer to its pre-1991 level.

United States · United States Congress · 6 April 2005

Amends the Internal Revenue Code to reduce from $18 to $9 (its pre-1991 level) the per-barrel tax on beer.

Wind Power Tax Incentives Act of 2005

United States · United States Congress · 6 April 2005

Wind Power Tax Incentives Act of 2005 - Amends the Internal Revenue Code to permit: (1) individual taxpayers with adjusted gross incomes (taxable incomes in the case of corporate taxpayers) of $1 million or less to offset passive activity losses and credits from energy-producing wind facilities against regular income; and (2) tax-exempt cooperative organizations (including farmers' cooperatives) to apportion pro rata among their shareholders tax credits received for investment in energy-producing wind facilities.

SIMPLE Cafeteria Plan Act of 2005

United States · United States Congress · 6 April 2005

SIMPLE Cafeteria Plan Act of 2005 - Amends the Internal Revenue Code to establish a new employee benefit cafeteria plan to be known as a Simple Cafeteria Plan. Defines "Simple Cafeteria Plan" as a cafeteria plan which: (1) is established and maintained by an employer with an average of 100 or fewer employees during a two-year period; (2) requires employers to make contributions or match employee contributions to the plan; (3) requires participating employees to have at least 1,000 hours of service for the preceding plan year and allows such employees to elect any benefit available under the plan; (4) permits participation by self-employed individuals; and (5) includes long-term care insurance as a qualified benefit. Exempts employers who make contributions for employees under a simple cafeteria plans from pension plan nondiscrimination requirements applicable to highly compensated and key employees. Modifies rules applicable to employee benefit flexible spending arrangements, including health and dependent care arrangements, to permit participants to make or modify elections regarding covered benefits and to carry over up to $500 (indexed for inflation) of unused benefits to the succeeding year or transfer such unused amounts to another plan, including an individual retirement plan or a health savings account. Allows an exclusion from the gross income of an employee of up to $7,500 ($10,000 for employees with one or more dependents) for employer contributions to a flexible spending arrangement. Provides for a cost-of-living adjustment to such exclusion amounts beginning in calendar year 2006.

Collegiate Housing and Infrastructure Act of 2005

United States · United States Congress · 6 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.

Tax Incentives for the Natural Gas Price Reduction Act of 2005

United States · United States Congress · 6 April 2005

Tax Incentives for the Natural Gas Price Reduction Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for: (1) investment in combined heat and power system property; (2) 30 percent of qualified photovoltaic property or solar heating property expenditures, up to $7,500; (3) 20 percent of qualified fuel cell property installed in residences and businesses; (4) up to 20 percent for qualified energy efficiency improvements to existing homes; (5) the installation of energy efficient property installed in new homes; (6) energy efficient appliances; and (7) investment in qualifying gasification combined cycle technology facilities. Increases the energy tax credit for solar equipment to 30 percent in 2006 through 2010. Extends until 2007 the tax credit for the production of electricity from renewable resources. Permits specified organizations, including tax-exempt organizations, public utilities, States and local governments, Indian tribal governments, or the Tennessee Valley Authority (TVA) to transfer tax credit amounts for investment in gasification combined cycle technology facilities to any person without regard to the tax-exempt status of such person. Allows a tax deduction for the cost of energy efficient commercial building property. Limits the amount of such deduction to $1.50 times the square footage of the building.

Youth Exchange Support Act of 2005

United States · United States Congress · 6 April 2005

Youth Exchange Support Act of 2005 - Amends the Internal Revenue Code to: (1) increase, from $50 to $200 per month, the tax deduction for the expenses of certain students living in a taxpayer's household; and (2) provide an inflation adjustment, beginning in 2006, for such amount.

401(k) Automatic Enrollment Act of 2005

United States · United States Congress · 6 April 2005

401(k) Automatic Enrollment Act of 2005 - Amends the Internal Revenue Code and the Employee Retirement Income Security Act (ERISA) to permit 401(k) pension plans to include an automatic enrollment arrangement. Preempts State laws that would preclude automatic enrollments or automatic rollovers in tax-exempt pension plans. Limits the duties and liabilities of fiduciaries with respect to automatic rollovers of 401(k) pension plan assets. Requires notice applicable to alternative methods of meeting nondiscrimination requirements for matching contributions to 401(k) plans semiannually (currently, annually). Directs the Secretaries of the Treasury and of Labor to report jointly to Congress on low-cost individual retirement plans.

Ending Tax Breaks for Discrimination Act of 2005

United States · United States Congress · 6 April 2005

Ending Tax Breaks for Discrimination Act of 2005 - Amends the Internal Revenue Code to deny all tax deductions for business expenses (including advertising expenses) associated with the use of a private club that discriminates on the basis of sex, race, or color.

To amend the Internal Revenue Code of 1986 to provide a 5-year extension of the credit for electricity produced from wind.

United States · United States Congress · 6 April 2005

Amends the Internal Revenue Code to extend until January 1, 2011, the tax credit for electricity produced from a qualified wind facility.

Family Friendly Employers Act of 2005

United States · United States Congress · 6 April 2005

Family Friendly Employers Act of 2005 - Amends the Internal Revenue Code to expand the tax exclusion for employer-provided educational assistance to include assistance provided to dependents of an employee. Limits the annual amount of the exclusion for such dependents to $2,500.

Paperwork Relief for Small Businesses Act of 2005

United States · United States Congress · 6 April 2005

Paperwork Relief for Small Businesses Act of 2005 - Amends the Internal Revenue Code to permit taxpayers who reasonably expect to owe $50,000 or less in annual taxes on distilled spirits, wines, and beer to make quarterly (rather than semimonthly) tax payments.

Realistic Roofing Tax Treatment Act of 2005

United States · United States Congress · 6 April 2005

Realistic Roofing Tax Treatment Act of 2005 - Amends the Internal Revenue Code to classify any roof system as 20-year property for depreciation purposes.

Investment Tax Simplification Act of 2005

United States · United States Congress · 6 April 2005

Investment Tax Simplification Act of 2005 - Makes permanent the reduction in individual capital gains tax rates enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to reduce the maximum capital gains tax rates for individuals and corporations.

Heroes Earned Retirement Opportunities Act

United States · United States Congress · 6 April 2005

Heroes Earned Retirement Opportunities Act - Amends the Internal Revenue Code to include combat zone compensation (otherwise excludable from gross income) as earned income for purposes of calculating the tax deduction for contributions to retirement savings plans.

Coastal Preservation Act of 2005

United States · United States Congress · 6 April 2005

Coastal Preservation Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for expenditures for U.S. Army Corps of Engineers-approved projects for the control or abatement of shoreline erosion in the United States greater than two feet per year (based on data published by the Bureau of Economic Geology of the University of Texas).

Social Security Benefits Tax Relief Act of 2005

United States · United States Congress · 6 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.

Better Future for American Families Act

United States · United States Congress · 6 April 2005

Better Future for American Families Act - Amends the Internal Revenue Code to rename the Credit for Elective Deferrals and IRA Contributions as the Saver's Credit. Revises the applicable percentage of an eligible individual's qualified retirement savings contributions for determining the amount of such credit. Makes the credit refundable and permanent.

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 5 April 2005

Higher Education Opportunity Through Pell Grant Expansion Act

United States · United States Congress · 5 April 2005

Higher Education Opportunity Through Pell Grant Expansion Act - Expresses the sense of the Senate that: (1) eligible undergraduate students should receive the maximum Federal Pell Grant amount established by this Act's amendment to the Higher Education Act of 1965 (HEA); and (2) sufficient funds should be appropriated to allow the awarding of such amount. Authorizes and makes additional appropriations in a specified amount for FY 2006 to carry out HEA provisions for Federal Pell Grants. Amends HEA to revise the maximum amount of a Federal Pell Grant to $5,100 for academic year 2005-2006. Directs the Secretary of Education to adjust such maximum amount cumulatively every two academic years to account for any percentage increase in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor. Prohibits the application of the annual updates (published in the Federal Register on December 23, 2004) to the allowance for State and other taxes in the tables used in the Federal Needs Analysis Methodology to determine a student's expected family contribution for the award year 2005-2006, to the extent such updates will reduce the amount of Federal student assistance for which the student is eligible. Terminates special allowance payments for lenders or holders of student loans: (1) made or purchased after enactment of this Act; (2) not qualified for such payments before such enactment; or (3) made or purchased before such enactment, but having retired or defeased obligations after such enactment, or having a maturity or retirement date extended after such enactment. Requires windfall profit offset payments from eligible lenders of student loans.

A bill to amend the Internal Revenue Code of 1986 to repeal the occupational taxes relating to distilled spirits, wine, and beer.

United States · United States Congress · 5 April 2005

Amends the Internal Revenue Code to repeal specified occupational taxes relating to distilled spirits, wine, and beer. Revises recordkeeping requirements for wholesale and retail liquor dealers. Requires liquor dealers who are subject to recordkeeping requirements to register with the Secretary of the Treasury. Makes it unlawful for any liquor dealer to purchase distilled spirits for resale from any person other than a wholesale dealer in liquor subject to recordkeeping requirements.

Federal Housing Finance Reform Act of 2005

United States · United States Congress · 5 April 2005

Federal Housing Finance Reform Act of 2005 - Amends the Housing and Community Development Act of 1992 to establish: (1) the Federal Housing Finance Agency, which shall have supervisory and regulatory authority over the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal Home Loan Banks, and the Federal Home Loan Bank Finance Corporation; and (2) the Housing Finance Oversight Board. Sets forth operations and administrative provisions, including provisions respecting: (1) capital levels, classifications, and undercapitalized entities; (2) loan levels; (3) housing goals; and (4) enforcement and compliance. Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation, which shall: (1) issue and service the consolidated obligations of the Federal Home Loan Banks; and (2) perform all other necessary functions in relation to the issuance and service of such obligations as fiscal agent on behalf of the Federal Home Loan Banks. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to the Corporation. Amends the Federal Home Loan Bank Act to increase total asset requirements for community financial institution members. Abolishes the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) and transfers its functions, personnel, and property to the Federal Housing Finance Agency.

Interstate Transmission Act

United States · United States Congress · 5 April 2005

Interstate Transmission Act - Amends the Federal Power Act to direct the Federal Energy Regulatory Commission (FERC) to establish, by rule, incentive-based, performance-based, participant-funded, and cost-based rate treatments for the transmission of electric energy in interstate commerce by public utilities. Grants FERC jurisdiction over an Electric Reliability Organization (ERO) certified by FERC, regional entities, and all users, owners, and operators of the bulk-power system, for purposes of approving reliability standards and enforcing compliance with this Act. Prescribes guidelines for ERO certification and reliability standards. Urges the President to negotiate international agreements with the governments of Canada and Mexico to provide for: (1) effective compliance with reliability standards; and (2) the effectiveness of the ERO in the United States and Canada or Mexico. Instructs FERC to establish a regional advisory body on the petition of at least two-thirds of the States within a region that have more than one-half of their electric load served within the region. Exempts Hawaii and Alaska from application of electric reliability standards under this Act. Repeals the requirement for FERC prior authorization of the disposition of public utility facilities. Prescribes FERC preferences for the formation of a transmission organization. Prescribes guidelines for the designation as a national interest electric transmission corridor of any geographic area experiencing or likely to experience electric energy transmission capacity constraints or congestion that adversely affects consumers. Grants FERC permitting authority for the construction or modification of electric transmission facilities in a national interest electric transmission corridor. Grants the consent of Congress to three or more contiguous States to enter into an interstate compact establishing regional transmission siting agencies to facilitate siting of future electric energy transmission facilities within such States and to carry out the electric energy transmission siting responsibilities of such States. Amends the Internal Revenue Code to treat electric transmission property as 15-year property for depreciation income tax deduction purposes under the accelerated cost recovery system.

To amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low income housing tax credit program.

United States · United States Congress · 5 April 2005

Amends the Internal Revenue Code to repeal provisions of the low income housing tax credit requiring a bond to cover recapture amounts from the disposition, prior to a 15-year compliance period, of a building (or interest therein) eligible for the credit. Provides for a three-year statute of limitation (from the end of the compliance period) for assessing a recapture deficiency. Requires owners of buildings eligible for the low income housing tax credit to file informational returns with the Secretary of the Treasury upon the occurrence of a recapture event and to provide persons who are named in such returns with specified information. Imposes penalties for failure to file required returns.

To amend the Internal Revenue Code of 1986 to provide a tax credit to individuals who make contributions to finance the non-Federal share of projects of the Army Corps of Engineers.

United States · United States Congress · 5 April 2005

Amends the Internal Revenue Code to allow a tax credit for contributions to a governmental entity for the non-Federal share of any water resources project carried out by the Secretary of the Army acting through the Chief of Engineers.

Telecommunications Ownership Diversification Act of 2005

United States · United States Congress · 5 April 2005

Telecommunications Ownership Diversification Act of 2005 - Amends the Internal Revenue Code to allow a taxpayer election to exclude from gross income a portion of the gain from the sale of the assets of a telecommunications business to an eligible purchaser. Defines "eligible purchaser" as: (1) any economically and socially disadvantaged business as designated by the Secretary of the Treasury using specified criteria; or (2) a corporation or partnership which, following the sale of a telecommunications business, owns substantially all of the assets of such business and is at least five percent owned by the Telecommunications Development Fund established under the Communications Act of 1934. Allows an investment tax credit of ten percent of the taxable income of any local exchange carrier that is not a Bell operating company and is headquartered in an area designated as an empowerment zone by the Secretary of Housing and Urban Development. Allows the exclusion from gross income of 50 percent of the gain from the sale or exchange of stock, held for more than five years, in an eligible purchaser engaged in a telecommunications business. Directs the Comptroller General, not later than January 1, 2007, and two years thereafter, to audit and report on the administration of this Act.

Uniformed Services Differential Pay Protection Act

United States · United States Congress · 5 April 2005

Uniformed Services Differential Pay Protection Act - Amends the Internal Revenue Code to treat differential wage payments as a payment of wages by an employer to an employee for income tax purposes. Defines "differential wage payment" as any employer payment to an individual serving on active duty in the uniformed services for more than 30 days which represents wages such individual would have received if such individual were performing services for the employer. Treats an individual receiving differential wage payments as an employee and treats differential wage payments as compensation for retirement plan purposes.

To amend the Internal Revenue Code of 1986 to restore the deduction for the travel expenses of a taxpayer's spouse who accompanies the taxpayer on business travel.

United States · United States Congress · 5 April 2005

Amends the Internal Revenue Code to repeal the restrictions on the tax deduction for the travel expenses of a taxpayer's spouse, dependent, or other individual accompanying the taxpayer on business travel.

A bill to amend the Workforce Investment Act of 1998 to provide for a job training grant pilot program.

United States · United States Congress · 4 April 2005

Amends the Workforce Investment Act of 1998 to establish a job training grant pilot program. Directs the Secretary of Labor to make such grants to qualified training programs in the following forms: (1) placement grants, upon placement of a qualified graduate in qualifying employment; and (2) retention grants, in an additional amount, upon retention of a qualified graduate in qualifying employment for one year. Requires the Secretary, in determining the amount of such grants, to consider the economic benefit received by the Government from the employment of the qualified graduate, including increased tax revenue and decreased unemployment benefits or other support obligations. Sets forth criteria for qualified job training programs, qualified graduates, and qualifying employment.

A bill to amend the Internal Revenue Code of 1986 to clarify the excise tax exemptions for aerial applicators of fertilizers or other substances.

United States · United States Congress · 4 April 2005

Amends the Internal Revenue Code to provide that an aerial applicator of agricultural fertilizer or other substances who is the ultimate purchaser of gasoline used on farms may qualify for an excise tax exemption for such gasoline without the necessity of a waiver by farm owners, operators, or tenants of their right to be treated as users and ultimate purchasers of such gasoline. Includes within such tax exemption gasoline used for the direct flight between the airfield and one or more farms. Exempts fixed-wing aircraft used for forestry purposes from the passenger air transportation excise tax.

FISCAL YEAR 2006 FIELD HEARING

United States · United States Senate · 23 March 2005

To amend the Internal Revenue Code of 1986 to make the credit for increasing research activities permanent.

United States · United States Congress · 20 March 2005

Amends the Internal Revenue Code to make permanent the tax credit for increasing research activities.

COAST GUARD READINESS, MISSION BALANCE, AND FISCAL YEAR 2006 BUDGET REQUEST

United States · United States Senate · 17 March 2005

FISCAL AND MANAGEMENT PRACTICES OF THE U.S. COMMISSION ON CIVIL RIGHTS

United States · United States House of Representatives · 17 March 2005

United States Tax Court Modernization Act

United States · United States Congress · 17 March 2005

United States Tax Court Modernization Act - Amends the Internal Revenue Code to revise and add provisions relating to the U.S. Tax Court, including: (1) granting exclusive jurisdiction to the Tax Court over collection due process case appeals; (2) permitting the assignment of cases involving small employment tax disputes ($50,000 or less) to special trial judges; (3) confirming that the Tax Court may apply the doctrine of equitable recoupment to the same extent that it is available in civil tax cases before the U.S. District Courts and the U.S. Court of Federal Claims; (4) applying the filing fee for Tax Court petitions to all petitions filed in such Court; (5) permitting the Tax Court to establish its own personnel management system, including merit system and nondiscrimination requirements; and (6) requiring a portion of Tax Court practitioner fees to be used for services to pro se taxpayers. Revises and adds personnel provisions for Tax Court judges and employees, including: (1) allowance of indexed payments for survivors of assassinated judges with less than five years of service; (2) inclusion of active and retired Tax Court judges in the Federal employees group life insurance program (FEGLI); (3) authorizing the Tax Court to pay increases in the costs of FEGLI coverage for judges age 65 or over; (4) allowing Tax Court judges to participate in the Thrift Savings Plan (TSP); and (5) expanding the role of, and benefits for, active and retired magistrate judges.

A bill to amend the Internal Revenue Code of 1986 to allow a credit against income tax for certain fuel cell property.

United States · United States Congress · 17 March 2005

Amends the Internal Revenue Code to allow a tax credit for energy-efficient building property. Limits the amount of such credit to the lesser of 30 percent (10 percent for other energy property) of the basis of such energy-efficient building property or $1,000 for each kilowatt of capacity of such property. Defines "energy-efficient building property" as a fuel cell power plant which generates at least 0.5 kilowatt of electricity using an electrochemical process. Allows a similar tax credit for the installation of qualified energy-efficient building property in a taxpayer's residence. Terminates both tax credits after December 31, 2009.

Efficient Energy Through Certified Technologies and Electricity Reliability (EFFECTER) Act of 2005

United States · United States Congress · 17 March 2005

Efficient Energy Through Certified Technologies and Electricity Reliability (EFFECTER) Act of 2005 - Amends the Internal Revenue Code to provide tax incentives affecting: (1) energy efficient commercial building property; (2) new energy efficient homes; (3) certain energy efficient property used in business; (4) nonbusiness energy property; and (5) combined heat and power system property; and (6) energy efficient appliances. Amends the Energy Policy and Conservation Act to expand the scope of consumer products that fall within the Energy Conservation Program (other than automobiles), including: (1) commercial package air conditioning and heating equipment; and (2) commercial refrigerators, freezers, and refrigerator-freezers. Directs the Federal Trade Commission to initiate a rulemaking regarding: (1) the effectiveness of the current consumer products labeling program in assisting consumers to make purchasing decisions and to improve energy efficiency; and (2) changes to the labeling rules that would improve the effectiveness of consumer product labels. Amends the National Energy Conservation Policy Act to prescribe guidelines under which the head of an executive agency shall procure either an Energy Star product or a Federal Energy Management Program (FEMP)-designated product in order to meet agency requirements for an energy consuming product. Repeals the termination of authority to enter into new energy savings performance contracts (thereby making such authority permanent). Amends the Energy Conservation and Production Act to direct the Secretary of Energy to establish certain revised Federal building energy efficiency performance standards. Amends the United States Housing Act of 1937 to include within the mandatory activities funded by the Capital Fund: (1) installing fixtures and fittings to improve energy and water-use efficiency; and (2) integrated utility management and capital planning to maximize energy conservation and efficiency measures. Amends the Cranston-Gonzalez National Affordable Housing Act to direct the Secretary of Housing and Urban Development and the Secretary of Agriculture to promulgate energy efficiency standards for rehabilitation and new construction of certain public and assisted housing. Amends the Federal Power Act to grant the Federal Energy Regulatory Commission (FERC) jurisdiction over the FERC-certified Electric Reliability Organization, including any regional entities, and all users, owners and operators of the bulk-power system for purposes of approving specified reliability standards.

New Homestead Act of 2005

United States · United States Congress · 17 March 2005

New Homestead Act of 2005 - Directs the Secretary of Education to repay a specified percentage (up to $2,000 per year) of certain education loans to an individual who completes a degree and both resides and is employed for at least five years in an area outside a metropolitan statistical area which for 20 years has a net out-migration of inhabitants of at least ten percent of the county population (qualifying county). Amends the Internal Revenue Code to allow a: (1) tax credit for the lesser of $5,000 or ten percent of the purchase price of a principal residence in a qualifying county; and (2) capital loss deduction with respect to a sale or exchange of a principal residence in a qualifying county. Provides for the creation of tax-exempt individual homestead accounts, funded by individual cash contributions and matching Federal contributions according to a specified formula, whose tax-free distributions after five years are used by residents of qualifying counties for qualified higher education or medical expenses, first-time homebuyer or business capitalization costs, or rollovers. Establishes a rural investment tax credit of 70 percent of the present value of new buildings (including rehabilitation projects) or 30 percent of the present value of existing buildings. Establishes a qualified rural small business investment credit of 30 percent of expenditures for starting or expanding a business, including costs for capital, plant and equipment, inventory expenses, and wages, but not including interest costs. Provides for accelerated depreciation of business property in rural investment projects. New Homestead Venture Capital Fund Act - Amends the Consolidated Farm and Rural Development Act to establish the New Homestead Venture Capital Fund (Fund), owned by private investors, to generate and provide equity capital to rural businesses in qualifying counties. Directs the Secretary of Agriculture to provide funding and guarantees for private investors in the Fund.

Hydrogen and Fuel Cell Technology Act of 2005

United States · United States Congress · 17 March 2005

Hydrogen and Fuel Cell Technology Act of 2005 - Renames the Spark M. Matsunaga Hydrogen Research, Development, and Demonstration Act of 1990 as the Spark M. Matsunaga Hydrogen Research, Development, and Demonstration Act of 1990. Directs the Secretary to: (1) conduct a research and development program on technologies relating to the production, purification, distribution, storage, and use of hydrogen energy, fuel cells, and related infrastructure; (2) establish an interagency Hydrogen and Fuel Cell Technical Task Force to advise on program implementation; and (3) implement certain technology transfer programs. Instructs the Secretary to carry out a program to demonstrate developmental hydrogen and fuel cell systems for mobile, portable, and stationary uses, using improved versions of the learning demonstrations program concept. Prescribes implementation guidelines for Federal procurement of fuel cell vehicles and hydrogen energy systems, including Federal procurement of stationary, portable, and micro fuel cells. Directs the Secretary to provide grants to, or offer to enter into contracts with, entities the Secretary determines appropriate to support timely and extensive development of safety codes and standards relating to fuel cell vehicles, hydrogen energy systems, and stationary, portable, and micro fuel cells. Expresses the sense of the Senate that Congress should provide any necessary tax incentives to encourage investment in and production and use of hydrogen and fuel cell systems during critical stages of market growth.

Equity for Our Nation's Self Employed Act of 2005

United States · United States Congress · 17 March 2005

Equity for Our Nation's Self Employed Act of 2005 - Amends the Internal Revenue Code to allow self-employed individuals to deduct health insurance costs in computing the tax on self-employment income.

Domestic Spirits Tax Equity Act of 2005

United States · United States Congress · 17 March 2005

Domestic Spirits Tax Equity Act of 2005 - Amends the Internal Revenue Code to allow wholesalers of distilled spirits a business tax credit for the financing costs of the Federal excise tax on such spirits.

Central Contractor Registry Act of 2005

United States · United States Congress · 17 March 2005

Central Contractor Registry Act of 2005 - Directs the Secretary of Defense to maintain a centralized, electronic database, to be known as the Central Contractor Registry, for the registration of sources of property and services (contractors) who seek to participate in contracts and other procurements entered into by various Federal procurement officials. Requires the Registry to include certain tax-related information for each contractor, including their taxpayer identification numbers and authorization for the Secretary of Defense to obtain verification of such numbers from the Commissioner of Internal Revenue. Makes contractors who do not register such information, or who register invalid information, ineligible for contracts entered into under the Federal Property and Administrative Services Act of 1949.