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Bill· HRH.R. 10066 (95th)referred
United States · United States Congress · 8 November 1977
Amends the Internal Revenue Code to impose an additional excise tax on cigarettes to be paid to States not imposing local cigarette taxes to the extent the taxes collected are attributable to those States. Imposes penalties for bootlegging large amounts of cigarettes and provides for the regulation of interstate cigarette dealers and transporters by the Department of the Treasury.
Bill· HRH.R. 10067 (95th)referred
United States · United States Congress · 8 November 1977
Amends the Internal Revenue Code to allow individuals whose income consists solely of employee compensation and interest to elect to have the Internal Revenue Service compute their income tax liability.
Bill· HRH.R. 10017 (95th)referred
United States · United States Congress · 3 November 1977
Amends the Internal Revenue Code to disallow all deductions for entertainment, amusement, or recreation expenses or business meals.
Bill· HRH.R. 10018 (95th)referred
United States · United States Congress · 3 November 1977
Amends the Internal Revenue Code to allow certain individuals to compute the amount of the deduction for retirement savings on the basis of the earned income of their spouses.
Bill· HRH.R. 10011 (95th)referred
United States · United States Congress · 3 November 1977
Delays the effective date for the generation skipping transfers tax imposed by the Tax Reform Act of 1976 until August 5, 1976 (presently, April 30, 1976).
Bill· HRH.R. 9974 (95th)referred
United States · United States Congress · 3 November 1977
Older Americans Property Tax Relief Act - Authorizes, under the Internal Revenue Code, any individual who has attained the age of 65 to take a nonrefundable tax credit for a percentage of the amount of real property taxes or the amount of rent constituting real property taxes paid or accrued by the taxpayer during the taxable year.
Bill· HRH.R. 9991 (95th)referred
United States · United States Congress · 3 November 1977
Interstate Taxation of Depositories Act - Title I: Jurisdiction to Tax - Allows States and political subdivisions to impose a doing-business tax on a depository bank which has a business location in the State or political subdivision during the taxable year. Title II: Maximum Percentage of Income, Receipts, or Capital Attributable to Taxing Jurisdiction - Sets forth an optional formula for apportioning such interstate tax, whereby a State may not impose, for any taxable year on a depository taxable in more than one State, a doing-business tax measured by an amount of net income, gross receipts, or capital in excess of the amount determined by multiplying the depository's base by an apportionment fraction; the numerator of which is the sum of the payroll factor and the receipts factor and the denominator of which is two. Provides that a depository may be taxed in more than one State if the requisite jurisdiction exists. Allows States to require combined reporting, including the combined base and apportionment factors of all corporations affiliated with such depository. Sets forth exceptions to this reporting requirement, including corporations incorporated outside of the United States. Defines the payroll and receipts factors which constitute the apportionment fraction. Excludes from net income and gross receipts; (1) dividends received from a corporation in which such depository owns at least 80 percent of the voting stock, or (2) all income which is considered income from sources outside the United States. Excludes from the capital of a depository, investments in, and advancements to, affiliated corporations. Title III: Definitions and Miscellaneous Provisions - Defines the terms used in this Act. Prohibits discriminatory imposition of a doing-business tax on specified depositories.
Bill· HRH.R. 9946 (95th)referred
United States · United States Congress · 3 November 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. 9893 (95th)referred
United States · United States Congress · 2 November 1977
Amends the Internal Revenue Code to increase the adjusted gross income limitation on the credit for the elderly and the amount of such credit.
Bill· HRH.R. 9905 (95th)referred
United States · United States Congress · 2 November 1977
Cigarette Tax Equalization Act - Amends the Internal Revenue Code to impose an additional excise tax on cigarettes to be paid into a Cigarette Tax Trust Fund in the Treasury and disbursed to States not imposing local cigarette taxes above a certain amount, to the extent the taxes collected are attributable to those States.
Bill· HRH.R. 9901 (95th)referred
United States · United States Congress · 2 November 1977
Amends the Internal Revenue Code to provide for an alternative 12-month period to the existing 60-month period of amortization for a new, identifiable certified pollution control facility acquired, or whose construction began, after December 31, 1976.
Bill· HRH.R. 9923 (95th)referred
United States · United States Congress · 2 November 1977
Investment Tax Credit Act - Amends the Internal Revenue Code to allow an additional investment tax credit for machinery and equipment placed in service in existing manufacturing plants or in nearby areas.
Bill· HRH.R. 9902 (95th)referred
United States · United States Congress · 2 November 1977
Amends the Internal Revenue Code to specify that in certain circumstances the managing of a farm by an agent will satisfy the material participation requirements for the special use valuation for the estate tax.
Bill· HRH.R. 9898 (95th)referred
United States · United States Congress · 2 November 1977
Amends the Internal Revenue Code to allow up to a $200 income tax deduction for one half of the expenses incurred for the installation and purchase of a teletypewriter for use by individuals whose sight, hearing, or speech is impaired.
Bill· HRH.R. 9900 (95th)referred
United States · United States Congress · 2 November 1977
Freedom of Energy Investment Act - Amends the Internal Revenue Code to provide for the nonrecognition of gain from the sale of stock in a domestic corporation engaged in a trade or business related to energy if, within 90 days after the sale, the proceeds are invested in stock of another such company.
Bill· HRH.R. 9907 (95th)referred
United States · United States Congress · 2 November 1977
Individual Housing Act - Amends the Internal Revenue Code to allow individuals an income tax deduction of up to $2,500 annually and $10,000 in a lifetime for contributions to an individual housing account. Makes such accounts tax exempt and allows distributions from such an account to be tax free if such distributions are used exclusively for the purchase of a principal residence for the distributee.
Bill· HRH.R. 9891 (95th)referred
United States · United States Congress · 2 November 1977
Amends the Internal Revenue Code to provide that State and local government retirement systems shall be tax exempt organizations. Exempts these systems from the reporting requirements pertaining to deferred compensation. Treats all such systems as qualified pension plans under the code.
Bill· HJRESH.J.Res. 646 (95th)referred
United States · United States Congress · 2 November 1977
Makes continuing appropriations for the Departments of Labor, and Health, Education, and Welfare, and related agencies through fiscal year 1978 at a rate for operations not in excess of the rate in effect on September 30, 1977.
Resolution· HRESH.Res. 892 (95th)passed
United States · United States Congress · 2 November 1977
Authorizes the consideration of House Joint Resolution 643 (Continuing appropriations).
Bill· HRH.R. 9869 (95th)referred
United States · United States Congress · 1 November 1977
Amends the Internal Revenue Code to lower from 65 to 55 the Age requirement for the exclusion of gain on the sale or exchange of the taxpayer's principal residence.
Bill· HRH.R. 9874 (95th)referred
United States · United States Congress · 1 November 1977
Individual Housing Act - Amends the Internal Revenue Code to allow individuals an income tax deduction of up to $2,500 annually and $10,000 in a lifetime for contributions to an individual housing account. Makes such accounts tax exempt and allows distributions from such an account to be tax free if such distributions are used exclusively for the purchase of a principal residence for the distributee.
Bill· HRH.R. 9866 (95th)referred
United States · United States Congress · 1 November 1977
Amends the Internal Revenue Code to allow taxpayers to deduct all current expenditures for plants and facilities which are otherwise chargeable to capital account and which are certified as required by Federal law and as not significantly increasing the plant's or facility's value or productivity.
Bill· HRH.R. 9879 (95th)referred
United States · United States Congress · 1 November 1977
Amends the Internal Revenue Code to exclude from taxable unrelated income, income derived by tax exempt colleges, universities and their wholly owned corporations from the broadcasting of sporting events.
Law· HJRESH.J.Res. 643 (95th)open
United States · United States Congress · 1 November 1977
Appropriates such amounts as may be necessary for continuing projects or activities, not otherwise provided for, which were conducted in fiscal year 1977 and for which appropriations, funds, or other authority would be available in the District of Columbia Appropriation Act for fiscal year 1978, but at a rate for operations not in excess of the current rate. Stipulates that appropriations and funds made available and authority granted pursuant to this joint resolution shall be available from November 1, 1977, and shall remain available until enactment into law of an appropriation for any project or activity provided for in this joint resolution, or November 30, 1977, whichever first occurs. Stipulates that no appropriation or fund made available or authority granted pursuant to this joint resolution shall be used to initiate or resume any project or activity for which appropriations, funds or other authority were not available during fiscal year 1977.
Bill· SJRESS.J.Res. 97 (95th)referred
United States · United States Congress · 31 October 1977
Makes continuing appropriations for the salaries and benefits of employees of the Departments of Labor and Health, Education, and Welfare, and related agencies through fiscal year 1978.
Bill· HRH.R. 9825 (95th)referred
United States · United States Congress · 31 October 1977
Amends the Internal Revenue Code to provide that all wines which are made exclusively from berries or fruit other than grapes and which contain not less than 12.5 grams of acid for each liter of juice shall be allowed a volume of ameliorating material of up to 60 percent (presently limited to wines made from loganberries, currants, or gooseberries).
Bill· HJRESH.J.Res. 641 (95th)referred
United States · United States Congress · 31 October 1977
Makes continuing appropriations for the salaries and benefits of State Department employees engaged in carrying out foreign assistance programs, the District of Columbia, the Department of Labor, Health, Education, and Welfare, and related agencies until the enactment into law of an appropriation for such programs or agencies or February 28, 1978, whichever occurs first.
Bill· HJRESH.J.Res. 642 (95th)referred
United States · United States Congress · 31 October 1977
Makes continuing appropriations for the salaries and benefits of employees of the Departments of Labor and Health, Education, and Welfare, and related agencies through fiscal year 1978.
Bill· SS. 2264 (95th)referred
United States · United States Congress · 29 October 1977
Amends the Internal Revenue Code to specify the tax status of income earned by tax exempt organizations from the lending of securities.
Bill· HRH.R. 9818 (95th)referred
United States · United States Congress · 28 October 1977
Amends the Internal Revenue Code to allow an income tax deduction by volunteer firefighters for their firefighting clothing expenses.
Bill· HRH.R. 9806 (95th)referred
United States · United States Congress · 28 October 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. 9808 (95th)referred
United States · United States Congress · 28 October 1977
Amends the Internal Revenue Code to limit the type of payments by vendors and purchasers of foreign oil or gas which qualify for the foreign tax credit.
Bill· HRH.R. 9807 (95th)referred
United States · United States Congress · 28 October 1977
Allows certain persons to apply for redetermination of tax liability with respect to certain past joint returns which their spouses were responsible for preparing.
Bill· SS. 2245 (95th)referred
United States · United States Congress · 27 October 1977
Amends the Internal Revenue Code to provide that ordinary promissory notes shall be treated as evidence of indebtedness for purposes of reporting income from certain sales on the installment method.
Bill· HRH.R. 9793 (95th)referred
United States · United States Congress · 27 October 1977
Amends the Internal Revenue Code to allow active participants in a retirement plan an income tax deduction for contributions to an individual retirement account in taxable years prior to the vesting of the individual's rights under the retirement plan.
Bill· HRH.R. 9792 (95th)referred
United States · United States Congress · 27 October 1977
Tax Reduction Act - Amends the Internal Revenue Code to lower individual and corporate income tax rates.
Bill· HRH.R. 9786 (95th)referred
United States · United States Congress · 27 October 1977
Amends the Internal Revenue Code to provide a $5,000 tax exclusion for persons aged 65 or over for amounts received as an annuity, pension, or other retirement benefit, and for all persons receiving retirement benefits under a public retirement system.
Bill· HRH.R. 9791 (95th)referred
United States · United States Congress · 27 October 1977
Amends the Internal Revenue Code to exclude from gross income the first $5,000 received by an individual as a civil service or other Federal retirement annuity.
Bill· SS. 2238 (95th)referred
United States · United States Congress · 26 October 1977
Technical Amendments Act - Amends the Internal Revenue Code with respect to the carryover basis of property passing at death, the estate tax treatment of transfers made within three years of the decedent's death, the material participation requirements for the special use valuation of certain farm property, the extended payment of estate taxes attributable to a closely held business, the deduction of expenses of attending foreign conventions, and the withholding of taxes from certain individuals engaged in fishing.
Bill· HRH.R. 9756 (95th)referred
United States · United States Congress · 26 October 1977
Amends the Internal Revenue Code to authorize any taxpayer to elect to have any portion of any overpayment of tax or any contribution in money which the taxpayer forwards with the return for such taxable year be available, as the taxpayer may designate on such return, for the National Endowment for the Arts or the National Endowment for the Humanities.
Bill· HRH.R. 9763 (95th)referred
United States · United States Congress · 26 October 1977
Amends the Internal Revenue Code to impose an additional excise tax on cigarettes to be disbursed to States not imposing local cigarette taxes to the extent the taxes collected are attributable to those States. Imposes penalties for bootlegging large amounts of cigarettes and provides for the regulation of interstate cigarette dealers and transporters by the Department of the Treasury.
Bill· HRH.R. 9733 (95th)referred
United States · United States Congress · 25 October 1977
Cigarette Tax Equalization Act - Amends the Internal Revenue Code to impose an additional excise tax on cigarettes to be paid into a Cigarette Tax Trust Fund in the Treasury and disbursed to States not imposing local cigarette taxes above a certain amount, to the extent the taxes collected are attributable to those States.
Bill· HRH.R. 9725 (95th)referred
United States · United States Congress · 25 October 1977
Amends the Internal Revenue Code to qualify cooperative housing corporations and condominium housing associations as tax exempt organizations.
Bill· HRH.R. 9732 (95th)referred
United States · United States Congress · 25 October 1977
Amends the Internal Revenue Code to exempt certain farm vehicles from the highway use tax.
Bill· HRH.R. 9722 (95th)referred
United States · United States Congress · 25 October 1977
Amends the Internal Revenue Code to impose an additional excise tax on cigarettes to be paid into a Cigarette Tax Trust Fund in the Treasury and disbursed to States not imposing local cigarette taxes to the extent the taxes collected are attributable to those States. Imposes penalties for bootlegging large amounts of cigarettes and provides for the regulation of interstate cigarette dealers and transporters by the Department of the Treasury.
Bill· HRH.R. 9727 (95th)referred
United States · United States Congress · 25 October 1977
Amends the Internal Revenue Code to provide that the determination of whether amounts received as a government health scholarship are includible in gross income shall be made without regard to certain matters, including agreements to serve in the Armed Forces or the Public Health Service Corps. Provides that no amount shall be included in gross income by reason of a discharge of a government health student loan in return for a promise to perform services in a health manpower shortage area.
Bill· HRH.R. 9719 (95th)referred
United States · United States Congress · 25 October 1977
Amends the Internal Revenue Code to exempt from taxation the interest on industrial development bonds issued for financing non-profit facilities for the production of electricity if such facilities do not use petroleum or natural gas for a fuel.
Bill· SS. 2227 (95th)referred
United States · United States Congress · 20 October 1977
Postpones the effective date of the carryover basis provisions of the Tax Reform Act from 1977 to 1979.
Bill· SS. 2228 (95th)referred
United States · United States Congress · 20 October 1977
Estate and Gift Tax Amendments Act - Amends the Internal Revenue Code to provide that the carryover basis at death provisions added by the Tax Reform Act of 1976 shall apply only to property obtained, or substantial improvements to any property made, after 1976. Increases the minimum basis of carryover property, over a five year period, to correlate the minimum basis with the estate tax exemption equivalent. Provides for a single basis adjustment to carryover basis property for death taxes attributable to appreciation by eliminating the adjustment for State succession taxes paid by transferees. Provides that the adjustments to basis for death taxes, and gift taxes which are attributable to appreciation, shall be determined by computing the difference between the appropriate tax computations made with net appreciation included, and then excluded, instead of the proportionate computation previously used thereby providing that the adjustments shall be made at marginal rates. Provides that the basis of property for which marital and charitable estate deductions are taken shall also be adjusted for estate taxes attributable to appreciation. Provides that the minimum basis adjustment shall be made before the adjustment for estate taxes attributable to appreciation. Exempts executors of gross estates less than the exemption equivalent from the reporting requirements pertaining to carryover basis property. Qualifies copyrights, literary compositions, art and the like, inherited from the creator, as well as crops and animals, as capital assets where they qualify as carryover basis property. Provides that only the gift taxes paid on transfers within three years of death, and not the gifts themselves, shall be included in the gross estate. Deems any retained estates, or incidents of ownership in life insurance policies on the decedent, which are held by the decedent at any time within three years of death, to be held by him at death, and thus a part of his estate. Expands the material participation criteria for the special use valuation of certain farm and other real property to provide for the satisfaction of the requirement where the decedent or his spouse has so participated for any 20 years before the decedent's death. Relaxes the material participation requirement for heirs to allow satisfaction of the requirement by an heir's agents or fiduciaries where the heir is: (1) under 21 years of age; (2) a student; (3) physically or mentally unable to participate; or (4) over 61 years of age and is the decedent's spouse. Allows the estate an income tax deduction for the decedent's unused operating and capital loss carryovers. Provides for the uniform definition of interests in closely held businesses for purposes of qualifying for the alternative time extensions for paying estate taxes on estates consisting mostly of such businesses. Extends the capital gains treatment for redemptions of stock of a closely held business to pay estate taxes to the amount necessary to pay the income taxes generated by the redemption.
Bill· HRH.R. 9693 (95th)referred
United States · United States Congress · 20 October 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.