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101 records in US in 1988
United States · United States Congress · 11 August 1988
Expresses the sense of the Senate that Federal law governing the taxation of State and local government bonds should not be changed in order to increase Federal revenues.
United States · United States Congress · 11 August 1988
Extends from December 31, 1988, to December 31, 1990, the 11 percent energy percentage used pursuant to the Internal Revenue Code to determine the investment tax credit with respect to energy property associated with the Island Park Dam hydropower project in Idaho.
United States · United States Congress · 11 August 1988
Excludes from the gross income of certain employees, for income tax purposes, the value of stock transferred to them on March 17, 1981, in connection with services performed for Delta U.S. Corporation (formerly Delta Drilling Company) in Texas.
United States · United States Congress · 11 August 1988
Low-Income Housing Revitalization Act - Amends Internal Revenue Code (IRC) provisions relating to the low-income housing credit to: (1) increase the credit from four percent to nine percent with respect to new buildings that are federally subsidized; (2) reallocate unused credit amounts among other States for their housing credit agencies; and (3) permit carryover to the succeeding year of a housing credit amount, if it is reasonably likely that the building will be put into service then. Extends the low-income housing credit through 1991. Amends IRC accounting provisions to exempt low-income housing credit activities from limitations on passive losses. Revises the accelerated cost recovery system in connection with low-income residential rental property to reduce the applicable recovery period from 27.5 to 20 years. Disallows an income tax deduction for any expense relating to residential rental units that violate State or local building, health, or safety codes and are not brought into compliance. Requires the regulatory agency that notifies a taxpayer of the substandard conditions to file an information return with respect to affected taxpayers. Excludes deductions for business expenses, interest on indebtedness, and taxes from calculations to determine the passive loss limitation in connection with rental real estate activity relating to a qualified low-income housing project in which a noncorporate taxpayer actively or materially participates.
United States · United States Congress · 11 August 1988
Family Equity Act of 1988 - Amends the Internal Revenue Code to allow an individual taxpayer a refundable income tax credit, in an amount based on adjusted gross income (minimum credit of $150), for each dependent below the age of compulsory school attendance in the State where the taxpayer resides. Sets the maximum credit amount as the total employee tax withheld from the taxpayer's wages during the year under the Federal Insurance Contributions Act. Increases to $2,900 the amount permitted as a deduction for personal exemptions. Repeals the employment-related dependent care tax credit as of tax year 1989. Revises the earned income tax credit to: (1) increase from $5,714 to $7,143 the amount of earned income subject to the credit; and (2) increase the credit percentage incrementally from 14 percent to 35 percent, adjusted annually for inflation, as the number of the taxpayer's dependent children increases from one to four or more. Repeals provisions of the Tax Reform Act of 1986 that eliminated the income tax deduction for two-earner married couples. Repeals provisions: (1) that limit the tax deduction for participation in certain pension plans; and (2) governing nondeductible contributions to individual retirement plans. Excludes from the gross income of an individual any amounts distributed out of an individual retirement plan that are: (1) used within 60 days of receipt to pay long-term care expenses of the taxpayer, spouse, or dependent; (2) used to pay the educational expenses of a student at an institution of higher education or postsecondary vocational school; or (3) used within 60 days of receipt by an individual in connection with the acquisition of a first principal residence. Permits an income tax deduction for expenditures of the taxpayer to provide otherwise uncompensated custodial care for a parent, grandparent, or dependent aged 65 or older. Excepts this deduction from the two percent floor limitation. Excludes all Social Security and Tier 1 railroad retirement benefits from taxable income for income tax purposes. Excludes from gross income any earnings and distributions in connection with any deposit of money with an institution of higher education intended to pay the educational expenses of a beneficiary attending the institution. Applies the exclusion only if payments or distributions are used within 60 days to pay these expenses.
United States · United States Congress · 11 August 1988
Sets forth the rule for the consideration of H.R. 4417 (National Bureau of Standards (National Institute of Standards and Technology) funding and technology policies).
United States · United States Congress · 11 August 1988
Makes it in order to take from the Speaker's table H.R. 5026 (emergency supplemental appropriations), with Senate amendments thereto, and to consider a motion disposing of such amendments.
United States · United States Congress · 10 August 1988
Amends the Internal Revenue Code to allow an individual taxpayer an income tax deduction for cash contributions to a savings account established to pay the educational expenses (tuition, supplies, meals, and lodging) of a single beneficiary at an institution of higher education or a vocational school. Limits the amount of the deduction to the lesser of $1,000 or the earned income includible in the taxpayer's gross income for the year. Disallows the deduction for contributions to an account maintained for any individual who has attained age 21. Prohibits an individual from being a beneficiary of more than one account. Permits the exclusion from gross income of payments and distributions from an education savings account as long as they are used exclusively for the educational expenses of the eligible beneficiary or are distributions of excess contributions before the due date of the tax return. Exempts the accounts themselves from taxation (except for the tax on unrelated business income of a charitable organization) unless they cease to be proper education savings accounts because either the contributor-taxpayer engages in prohibited transactions or the account's beneficiary pledges the account as security. Imposes penalties in the form of additional tax when account funds or distributions are used for other than educational purposes. Requires the trustee of an education savings account to report to the Secretary of the Treasury and to the account's beneficiary on the maintenance of the account. Extends the deduction for contributions to an educational savings account to taxpayers who do not otherwise itemize deductions. Imposes a six percent excise tax on excess contributions to an education savings account. Imposes a five percent excise tax on amounts connected with any prohibited transaction with respect to an education savings account. Imposes a penalty for failure to file required reports concerning the education savings account. Excludes from the gross income of an individual any distributions from an education savings account used exclusively for that individual's educational expenses.
United States · United States Congress · 10 August 1988
Child Care Tax Incentive Act of 1988 - Amends the Internal Revenue Code to increase from 30 to 40 percent the percentage used to determine the dependent care income tax credit for employment-related expenses in connection with non-handicapped taxpayer dependents under age 15. Reduces the credit (but not below 20 percent) when adjusted gross income exceeds $10,000. Disallows government-subsidized child care expenses in credit calculations. Directs the Secretary of the Treasury to prescribe tables to permit credit payments by employers through payroll withholding mechanisms. Treats 70 percent of the 30 percent dependent care credit for taxpayers with adjusted gross income of $40,000 or less as a refundable credit, administered through the earned income credit.
United States · United States Congress · 10 August 1988
Prohibits Senate offices from incurring official mail costs for FY 1989 in excess of the amounts allocated to such offices in accordance with this resolution. Requires the Committee on Rules and Administration to determine such costs. Urges the House of Representatives to make similar expenditure limitations. Directs the Committee to prescribe: (1) a recordkeeping system to ensure that allocated amounts are not exceeded; and (2) a procedure to transfer portions of an allocation from one Senate office to another.
United States · United States Congress · 10 August 1988
Waives points of order against the conference report on H.R. 2342 (Coast Guard and marine transportation) and against its consideration.
United States · United States Congress · 9 August 1988
National Bureau of Standards Authorization Act for Fiscal Year 1989 - Title I: National Bureau of Standards Authorization Authorizations for Program Activities - Authorizes appropriations to the Secretary of Commerce for FY 1989 to carry out the following activities of the National Bureau of Standards (NBS) (now the National Institute of Standards and Technology (NIST)) (1) measurement research and standards; (2) materials science and engineering; (3) engineering measurements and standards; (4) computer science and technology; (5) technology services; and (6) research support activities. Permits transfers of funds among such activities under specified conditions. Authorizes specified amounts from such funds solely for: (1) steel technology; (2) the Center for Building Technology; (3) the Center for Fire Research; (4) support of Regional Centers for the Transfer of Manufacturing Technology; (5) the evaluation of non-energy related inventions and related technology extension activities; and (6) technical competence programs. Prohibits the merger of the Center for Building Technology and the Center for Fire Research. Authorizes additional appropriations for FY 1989 for: (1) activities of the Office of Under Secretary of Commerce for Technology; (2) activities of the Office of Technology Policy; (3) implementation of the purposes of the Japanese Technical Literature Act of 1986; and (4) salary adjustments. Mandates that the Research Information Center of the NBS be maintained as a governmental activity. Instructs the Director of the NBS (NIST) to undertake, as appropriate, a variety of activities in the interest of extending and transferring technical services and other expertise to the States and to businesses, including improving access to Federal laboratories and evaluating inventions from small businesses or individuals that have significant potential for improving competitiveness. Directs the Director of the NBS (NIST) to study public and private sector needs for evaluated engineering data and to report to the Congress, recommending appropriate roles for the NBS (NIST) other relevant government and professional entities in collecting, evaluating, and disseminating such data. Instructs the Director to report to specified congressional committees on post-1986 domestic technology transfer accomplishments, trends, and plans of the agency. Describes required report contents. Title II: National Technology Administration in Department of Commerce Technology Administration - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to establish in the Department of Commerce a Technology Administration comprising: (1) the National Bureau of Standards (National Institute of Standards and Technology); (2) the National Technical Information Service; (3) such other agencies, programs, and activities of the Department of Commerce as the Secretary of Commerce determines should be transferred to the entity; and (4) an Office of Technology Policy, a policy analysis entity. Describes duties of the Administration, including assuming the functions currently assigned to the Office of Productivity, Technology, and Innovation. Directs the President to appoint, with the advice and consent of the Senate, an Under Secretary of Commerce for Technology and an Assistant Secretary of Commerce for Technology Policy. Describes the duties of these officials. Title III: National Technical Information Service - National Technical Information Act of 1988 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to establish the National Technical Information Service (NTIS) as a Government corporation. Assigns to it the duties performed by the existing National Technical Information Service, as well as additional functions, including making its products available to depository libraries as part of the Government Printing Office Depository Library Program and making available in English unclassified foreign technical information. Directs the President to appoint, with the advice and consent of the Senate, an Administrator to manage the NTIS. Establishes an NTIS Advisory Board. Requires annual reporting and auditing in connection with NTIS activities. Title IV: Miscellaneous Amendments to Stevenson-Wydler Technology Innovation Act of 1980 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to: (1) make specific provision for intellectual property within the context of cooperative research and development agreements; (2) authorize cash awards to scientific, engineering, and technical personnel for computer software; and (3) revise provisions regarding the distribution to inventors of royalties received by Federal agencies. Makes this final amendment retroactive to October 20, 1986.
United States · United States Congress · 9 August 1988
Title I: National Institute of Standards and Technology Authorization - National Institute of Standards and Technology Authorization Act for Fiscal Year 1989 - Authorizes appropriations to the Secretary of Commerce for FY 1989 to carry out the following activities of the National Institute of Standards and Technology (NIST) (formerly the National Bureau of Standards): (1) measurement research and standards; (2) materials science and engineering; (3) engineering measurements and standards; (4) computer science and technology; (5) research support activities; (6) the Cold Neutron Source Facility; and (7) technology services. Permits transfers of funds among such activities under specified conditions. Authorizes specified amounts from such funds solely for: (1) steel technology; (2) the Center for Building Technology; (3) the Center for Fire Research; (4) technical competence programs; (5) support of Regional Centers for the Transfer of Manufacturing Technology and assistance to State technology programs (only for research cooperative agreements subject to a specified competitive process); and (6) the evaluation of non-energy related inventions and related technology extension activities. Prohibits the merger of the Center for Building Technology and the Center for Fire Research. Authorizes additional appropriations for FY 1989 for: (1) activities of the Office of Under Secretary of Commerce for Technology; (2) activities of the Office of Technology Policy; (3) implementation of the purposes of the Japanese Technical Literature Act of 1986; and (4) salary adjustments. Mandates that the Research Information Center be maintained as a governmental activity under the NIST. Instructs the Director of the NIST to study public and private sector needs for evaluated engineering data and to report to the Congress recommending appropriate roles for the NIST and other relevant government and professional entities in collecting, evaluating, and disseminating such data. Instructs the NIST Director to undertake, as appropriate, a variety of activities in the interest of extending and transferring technical services and other expertise to the States and to businesses, including improving access to Federal laboratories and evaluating inventions from small businesses or individuals that have significant potential for improving competitiveness. Instructs the Director to report to specified congressional committees on post-1986 domestic technology transfer accomplishments, trends, and plans of the agency. Describes required report contents. Requires the NIST annually to submit to the Congress, at the time the President's budget is released, three-year budget estimates for all major accounts and new initiatives. Title II: Technology Administration in the Department of Commerce - Subtitle A: Technology Administration - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to establish in the Department of Commerce a Technology Administration comprising: (1) the National Institute of Standards and Technology; (2) the National Technical Information Service; and (3) the Office of Technology Policy, a policy analysis entity. Describes duties of the Administration, including assuming the functions currently assigned to the Office of Productivity, Technology, and Innovation. Directs the President to appoint, with the advice and consent of the Senate, an Under Secretary of Commerce for Technology and an Assistant Secretary of Commerce for Technology Policy. Describes the duties of these officials. Subtitle B: National Technical Information Service - National Technical Information Act of 1988 - Authorizes the Secretary of Commerce, acting through the Director of the National Technical Information Service (NTIS), to enter into contracts, cooperative agreements, joint ventures, and other transactions necessary for NTIS purposes. Prohibits the contracting out of certain functions and activities currently performed by NTIS personnel. Requires congressional notification with respect to certain contracts. Directs the President to appoint, with the advice and consent of the Senate, a Director to manage the NTIS. Establishes a NTIS Advisory Board. Assigns to the Secretary of Commerce, acting through the NTIS, the duties performed by the current NTIS, as well as additional functions, including making its products available to depository libraries as part of the Government Printing Office Depository Library Program and making available in English unclassified foreign technical information. Requires annual auditing in connection with NTIS activities. Requires both the Secretary and the Director to keep appropriate congressional committees informed about NTIS activities. Directs the Secretary, within 90 days of this Act's enactment, to report to the Congress on the NTIS fee structure. Directs the Secretary to report annually to the Congress on NTIS activities and, in addition, to give detailed advanced notice of not less than 30 days of: (1) any proposed reduction-in-force; (2) any joint venture or cooperative agreement involving a financial incentive to the joint venturer or contractor; and (3) any changes in the NTIS operating plan that would result in more than a ten percent variation of expense. Title III: Miscellaneous Amendments to Stevenson-Wydler Technology Innovation Act of 1980 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to: (1) make specific provision for intellectual property within the context of cooperative research and development agreements; (2) authorize cash awards to scientific, engineering, and technical personnel for computer software; and (3) revise provisions regarding the distribution to inventors of royalties received by Federal agencies. Makes this final amendment retroactive to October 20, 1986. Title IV: Drug-Free Workplace - Prohibits: (1) the obligation or expenditure of any funds authorized to be appropriated for the NIST unless the NIST implements a written policy designed to ensure that its officers and employees do not use, possess, or distribute controlled substances in the workplace; and (2) grant or contract payments to secondary NIST fund recipients unless they adopt a written policy ensuring a drug-free workplace.
United States · United States Congress · 9 August 1988
Amends the Internal Revenue Code to permit an income tax deduction for State and local general sales taxes.
United States · United States Congress · 8 August 1988
Makes continuing appropriations for FY 1988 under the terms and conditions set forth in applicable appropriations Acts for FY 1988, and as provided for in H.R. 5026 as it passed the House on July 27, 1988. Appropriates funds to the following entities for use in the indicated programs and activities: (1) Department of Labor for State unemployment insurance and employment service operations (from the Employment Security Administration account in the Unemployment Trust Fund); (2) Black Lung Disability Trust Fund; (3) trade adjustment assistance; (4) Small Business Administration (transfers from the Business Loan and Investment Fund); (5) Department of Transportation for the Coast Guard; (6) Department of Justice for legal activities in support of U.S. prisoners, salaries and expenses of the Community Relations Service and of the Federal Prison System, and correctional facilities; (7) Department of Agriculture for the Agricultural Stabilization and Conservation Service, watershed and flood prevention operations of the Soil Conservation Service, and actions to enable farmers to stay in business and prevent foreclosure; (8) the President, to be used by the Department of State for refugee assistance (U.S. Emergency Migration and Refugee Assistance Fund); and (9) Department of Defense-Civil for emergency drought activities of the Corps of Engineers-Civil. Makes appropriations, funds, and authority granted by this Act available until the earliest of: (1) enactment into law of an appropriation for the relevant project or activity; (2) enactment of the applicable appropriations Act by both the House and the Senate without any provision for the project or activity; or (3) September 30, 1988.
United States · United States Congress · 5 August 1988
Amends accounting provisions of the Internal Revenue Code to provide that the percentage completion method shall not be required in the case of any residential construction contract that the taxpayer expects to be completed within one year.
United States · United States Congress · 4 August 1988
Amends the Internal Revenue Code to treat as a tax preference for minimum tax purposes any exempt-interest dividend on a loan to a corporation or employee stock ownership plan (ESOP) that is used to acquire employer securities. Requires any pension plan with respect to which there are substantial ESOP holdings in the employer (at least 35 percent of the employer's stock is held by one or more ESOPs) to provide for a passthrough of voting rights to plan participants and beneficiaries.
United States · United States Congress · 4 August 1988
Amends Internal Revenue Code provisions relating to the income tax deduction for the health insurance costs of self-employed individuals to: (1) increase from 25 percent to 100 percent the allowable deduction; and (2) make the deduction permanent (under current law it will expire after tax year 1989).
United States · United States Congress · 4 August 1988
Jobs Relocation Incentives Act of 1988 - Amends the Internal Revenue Code to permit an income tax credit to a corporation for qualified expenses incurred in discontinuing a wholly-owned foreign operation and relocating its activity to a U.S. labor surplus area within two years. Requires the business activity to employ at least 500 individuals full time. Permits a ten percent credit for the first taxable year and five percent for the nine succeeding years. Disallows the credit if bankruptcy results from the relocation or if employee numbers decrease to a specified threshold within five years of the new operation's commencement. Recaptures credit amounts if the corporation ceases operation of the new domestic enterprise within five years of its beginning. Terminates the credit five years after this Act's enactment.
United States · United States Congress · 3 August 1988
Amends accounting provisions of the Internal Revenue Code to provide that the percentage completion method shall not be required in the case of any residential construction contract that the taxpayer expects to be completed within one year.
United States · United States Congress · 3 August 1988
Long-Term Care Insurance Promotion Act of 1988 - Amends the Internal Revenue Code to treat qualified long-term health care insurance contracts as health insurance contracts and their benefits as benefits for personal injuries or sickness for all tax purposes. Applies this provision to policies whose coverage is limited to the necessary diagnostic, preventive, therapeutic, rehabilitative, and personal care services provided to a chronically ill individual in a qualified health care facility or at home. Allows an income tax deduction of long-term care expenditures. States that benefits provided under certain employer funded long-term health care insurance shall not be treated as deferred compensation plans for purposes of the tax deduction available for employer contributions to benefit plans. Permits a taxpayer a refundable 20 percent income tax credit for long-term care insurance expenditures. Reduces the credit percentage as income increases above $25,000 ($40,000 joint). Permits a maximum credit of between $200 and $2,000, based upon the age of the affected individual and indexed annually to reflect the medical care component of the Consumer Price Index. Allows early distributions from a qualified retirement plan, without penalty, to an individual aged 50 or older who uses the funds to purchase long-term care insurance within 60 days of the distribution. Considers as nontaxable any exchange by an individual aged 50 or older of a life insurance or annuity contract for a long-term care insurance contract.
United States · United States Congress · 2 August 1988
Requires reimbursement for Federal employees detailed to the White House Office, the Executive Residence at the White House, the Office of the Vice President, the Domestic Policy Staff, and the Office of Administration for the time such employees are so detailed. (Current provisions of law require such reimbursement for periods of details in excess of 180 calendar days.)
United States · United States Congress · 29 July 1988
Amends the Internal Revenue Code to permit cooperatives (farmers' cooperatives, cooperative banks, mutual insurance companies, and rural electric and telephone cooperatives) to: (1) elect to treat as ordinary income or loss any gain or loss from the sale or other disposition of any asset used by the organization to facilitate the conduct of business done with or for patrons; and (2) include such gain or loss in net earnings of the organization from business done with or for patrons.
United States · United States Congress · 28 July 1988
Amends the Internal Revenue Code to provide that the income tax rules requiring cost capitalization shall not apply in connection with the qualified artistic work expenses of freelance writers, artists, and photographers. Excludes from qualified expenses those related to printing, photographic plates, motion picture films, video tapes, and similar items. Applies the same exemption with respect to qualified indirect costs of certain film producers, not including any direct costs of a motion picture film or video tape.
United States · United States Congress · 28 July 1988
Day Care Reduction Tax Credit Act of 1988 - Amends the Internal Revenue Code to permit an employer tax credit for one-third of the aggregate wages (to a maximum of $6,000) attributable to services performed by a full-time employee of the taxpayer who is permitted to work at home or during nonbusiness hours solely in order to reduce dependent care needs. Requires that there be at least a 20 percent reduction in the time of dependent care provided outside the employee's home.
United States · United States Congress · 28 July 1988
Expresses the sense of the Congress that the current income tax deduction for residential mortgage interest should not be changed.
United States · United States Congress · 27 July 1988
Amends Internal Revenue Code provisions relating to the exclusion ratio, permitting a ten-year basis recovery for amounts received as annuities under governmental plans.
United States · United States Congress · 27 July 1988
Sets forth the rule for the consideration of H.R. 4200 (maritime programs).
United States · United States Congress · 26 July 1988
Job Enhancement for Families Act - Amends Internal Revenue Code provisions governing the earned income tax credit to: (1) increase from $5,714 to $7,143 the amount of earned income subject to the credit; and (2) increase the credit percentage incrementally from 14 percent to 35 percent, adjusted annually for inflation, as the number of the taxpayer's dependent children increases from one to four or more.
United States · United States Congress · 26 July 1988
Amends the Internal Revenue Code to treat as tax-excludible compensation for injuries or sickness any amounts received as health care benefits under a life insurance contract that are used in connection with: (1) a physical or mental condition requiring hospitalization for 150 days or longer; or (2) long-term or terminal physical or mental impairment of the taxpayer.
United States · United States Congress · 26 July 1988
Repeals specified provisions of the Tax Reform Act of 1986 that eliminated income averaging. Provides that the Internal Revenue Code (IRC) be applied and administered as if such provisions had not been enacted. Amends the IRC to restore income averaging for a person: (1) actively engaged in the trade or business of farming, including aquaculture; and (2) whose average annual gross income for the three preceding taxable years is at least 50 percent attributable to farming.
United States · United States Congress · 25 July 1988
Amends the Tax Reform Act of 1986 to create a special rule for the income tax treatment of amounts received, but not as an annuity, under an annuity, endowment, or life insurance contract in connection with certain State plans permitting employee withdrawals of their contributions.
United States · United States Congress · 14 July 1988
American Partnership for Our Children's Future Act of 1988 - Title I: Income Tax Provisions - Amends the Internal Revenue Code to allow an individual taxpayer a refundable income tax credit, in an amount based on adjusted gross income (minimum credit of $150), for each dependent below the age of compulsory school attendance in the State where the taxpayer resides. Sets the maximum credit amount as the total employee tax withheld from the taxpayer's wages during the year under the Federal Insurance Contributions Act. Disallows application of the nonrefundable dependent care income tax credit with respect to a taxpayer's dependents under age 15, unless the child is physically or mentally incapable of self-care. Title II: Employer Income Tax Incentives - Amends the Internal Revenue Code to exclude from gross income amounts spent by an employer in providing employee child care, comprehensive parental and medical leave programs, or both.
United States · United States Congress · 14 July 1988
Amends the Internal Revenue Code to exempt from the applicable occupational tax the proprietor of any distilled spirits plant exclusively producing alcohol for fuel use.
United States · United States Congress · 14 July 1988
Amends the Internal Revenue Code to revise the permitted amount of the standard deduction for a taxpayer's dependent who: (1) is either under age 19 or a student; and (2) has income and files a separate return. Makes the standard deduction equal to the individual's earned income plus $500, up to the regular standard deduction amount for individuals. (Under current law, this limitation is equal to the greater of $500 or the dependent's actual earned income.)
United States · United States Congress · 14 July 1988
Anti-Drug Resource Enhancement Act of 1988 - Amends the Internal Revenue Code to increase alcohol excise taxes as follows: (1) from 17 cents to 32 cents per gallon on wines containing not more than 14 percent alcohol; (2) from 67 cents to 82 cents per gallon on wines containing between 14 percent and 21 percent alcohol; (3) from $2.25 to $2.40 per gallon on wines containing between 21 percent and 24 percent alcohol; (4) from $3.40 to $3.55 per gallon on champagne and other sparkling wines; (5) from $2.40 to $2.55 per gallon on artificially carbonated wines; and (6) from $9 to $12.30 per barrel on beer. Increases the cigarette excise tax from: (1) $8 to $9 per thousand for small cigarettes; and (2) $16.80 to $18.90 per thousand for large cigarettes. Establishes in the Treasury the Anti-Drug Resource Enhancement Trust Fund, comprising an Anti-Illicit Drug Account and an Alcohol and Tobacco-Related Addiction Account. Appropriates to the former account 90 percent of the revenue attributable to the excise tax increases mandated in this Act, such amounts to be used to decrease the supply and demand for illicit narcotics through various anti-drug education, law enforcement, and treatment programs. Appropriates the remaining increased revenue to the latter account for research, prevention, education, treatment, and other programs for individuals addicted to alcohol or tobacco.
United States · United States Congress · 14 July 1988
Amends the Internal Revenue Code to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses (tuition, fees, books, supplies, reasonable living expenses) of the taxpayer, spouse, or dependent. Permits an exclusion from gross income of scholarship amounts used for a student's reasonable living expenses while attending school away from home.
United States · United States Congress · 14 July 1988
Amends the Internal Revenue Code to impose a 100 percent short-term capital gains tax on gain from any stocks, options, or futures that are held by an individual or corporate taxpayer for less than one year.
United States · United States Congress · 13 July 1988
Permits the legalization, ratification, or confirmation of certain State taxes imposed before July 5, 1983, on commercial bank and trust company investments, notwithstanding Federal law exempting U.S. obligations from State or local taxation.
United States · United States Congress · 13 July 1988
Provides for emergency advances to the Black Lung Disability Trust Fund and for Trade Adjustment Assistance for FY 1988 from balances in the revolving fund of the Employment Security Administration Account in the Unemployment Trust Fund.
United States · United States Congress · 12 July 1988
Amends the Internal Revenue Code to permit an income tax deduction for jury duty pay that a taxpayer-employee remits to an employer in exchange for continuing the employee's normal compensation during the jury duty period. Permits the same amount as an exclusion from the gross income of taxpayers who do not itemize deductions.
United States · United States Congress · 12 July 1988
Suspends imposition of the Inland Waterways Trust Fund financing rate (a tax of ten cents per gallon of fuel used in inland waterway transportation) between July 1, 1988, and December 31, 1988. Requires continued suspension, through June 30, 1989, if the Secretary of the Treasury determines that continuing adverse effects of the 1988 drought warrant it.
United States · United States Congress · 12 July 1988
Waives points of order against the conference report on H.R. 4264 (armed forces funding) and against its consideration.
United States · United States Congress · 11 July 1988
Amends the Revenue Act of 1978 with respect to the employment status, for income and employment tax purposes, of providers of technical services, such as engineering, drafting, and computer programming, under third-party arrangements. Declares that the service provider will not be considered as an employee of the broker or service recipient and the broker or service recipient will not be treated as an employer of the service provider if: (1) the services are provided in accordance with a qualified written contract between the provider and the broker; and (2) the provider provides no more than 18 months of substantial continuous services for the same recipient. Applies these provisions only if the broker elects such application and does not compensate the provider when not providing services during the relevant time period. Treats the broker as the employer for withholding tax purposes, requiring tax withholding at the rate of ten percent of payments to the provider for the technical services.
United States · United States Congress · 11 July 1988
Amends the Water Resources Research Act of 1984 to reauthorize the grant program for water resources research and technology institutes on a dollar-for-dollar matching basis for FY 1989 through 1993. Requires that such funds be used only for the reimbursement of direct cost expenditures incurred for the conduct of the water resources research program. Directs the Secretary of the Interior to conduct an evaluation of each institute every five years to determine if it qualifies for further support. (Currently the Secretary must make such determination every four years.) Extends the authorization of appropriations for the grant program from FY 1989 through 1993. Authorizes appropriations for FY 1989 through 1993 only for the reimbursement of the direct cost expenses of additional research by institutes which focuses on water problems and issues of a regional or interstate nature beyond those of concern only to a single State and which related to specific program priorities identified jointly by the Secretary and the institutes. Requires such funds when appropriated to be matched on a not less than dollar-for-dollar basis by non-Federal sources. Extends the authorization of appropriations from FY 1989 through 1993 for the matching grant research program concerning any aspect of a water resource-related problem which the Secretary deems to be in the national interest. Authorizes appropriations to extend the technology grant program from FY 1989 through 1993.
United States · United States Congress · 7 July 1988
Amends the Great Lakes Shoreline Mapping Act of 1987 to authorize appropriations for FY 1989 instead of FY 1988 for preparing maps of the shoreline of the Great Lakes.
United States · United States Congress · 30 June 1988
Expresses the sense of the House of Representatives that Federal law governing the taxation of State and local government bonds should not be changed in order to increase Federal revenues.
United States · United States Congress · 29 June 1988
Amends the Trade Act of 1974 to authorize appropriations for FY 1989 for the Office of the United States Trade Representative. Amends the Tariff Act of 1930 to authorize appropriations for FY 1989 for the United States International Trade Commission. Amends the Customs Procedural Reform and Simplification Act of 1978 to authorize appropriations for FY 1989 for the United States Customs Service for: (1) salaries and expenses incurred in its noncommercial operations; (2) the Customs User Fee Account for salaries and expenses incurred in its commercial operations; and (3) the operation (including salaries and expenses) and maintenance of its air interdiction program. Authorizes appropriations to the Secretary of the Treasury for FY 1989 for the Customs Cooperation Council. Increases the number of employees at the Service. Amends the Tariff Act of 1930 to set forth procedures for reconciliation of inconsistent decisions made by customs officers with respect to merchandise.
United States · United States Congress · 29 June 1988
Repeals the provision of the Internal Revenue Code that requires a taxpayer to include a tax identification number for each dependent of age five or older claimed on an income tax return.
United States · United States Congress · 29 June 1988
Amends the Internal Revenue Code to permit, as a component of the general business credit, a ten percent income tax credit for expenditures, to a maximum of $30 per employee, in connection with employee assistance programs designed to assist in identifying and resolving personal problems that could adversely affect job performance, including drug and alcohol abuse, marital problems, physical and mental health, and legal and financial concerns. Describes required features of eligible programs.