The world's political record
Records whose title is actually about this topic. Use a country filter if the list is still too broad.
101 records in US in 2002
United States · United States Congress · 10 October 2002
Maximum Economic Growth for America Through Innovative Finance Act or MEGA - Amends the Internal Revenue Code to allow a limited credit to a taxpayer holding a qualified highway bond. Limits the amount of such bonds which may be issued.
United States · United States Congress · 10 October 2002
Amends the Internal Revenue Code to: (1) suspend the tax-exempt status an organization designated by an Executive order as a terrorist organization; (2) prohibit taking a deduction for a contribution to any such organization; (3) prohibit challenging such a suspension or denial in any administrative or judicial proceeding relating to Federal tax liability; and (4) treat an erroneous designation as having not been made.
United States · United States Congress · 10 October 2002
Amends the Internal Revenue Code (IRC) to exempt State and local committees of candidates and of political parties from specified notification requirements. Exempts a "qualified State or local political organization" from specified reporting requirements. Defines "qualified State or local political organization." Requires an annual income tax return from political organizations only with respect to political organization taxable income. (Currently, such a return is required with respect to such income or if gross receipts exceed $25,000.) Exempts such returns from disclosure. Requires the filing of an annual information return by a political organization with gross receipts of $25,000 or more or with gross receipts of $100,000 or more in the case of a qualified State or local political organization, except for certain organizations including: (1) a State or local committee of a political party, or political committee of a State or local candidate; (2) a caucus or association of State or local officials; (3) an authorized committee of a candidate for Federal office; (4) a national committee of a political party; or (5) a U.S. House of Representatives or U.S. Senate campaign committee of a political party committee. Requires publicizing the effects of this Act and the interaction of IRC requirements with Federal Election Campaign Act of 1971 requirements. Permits the waiver of an organization's failure to comply tax if due to reasonable cause and not to willful neglect. Makes additional amendments to IRC section 527 (Political Organizations) concerning: (1) unsegregated funds; (2) penalty assessment and collection procedures; (3) electronic filing; (4) public availability of notices and reports; and (5) timing of notice of material change.
United States · United States Congress · 10 October 2002
Amends the Internal Revenue Code to revise the tax treatment of derivative transactions entered into by a corporation with respect to its stock. Provides for nonrecognition of derivative gain, loss, or deduction items (as defined by this Act). Excepts certain forward contracts from such treatment.
United States · United States Congress · 10 October 2002
September 11th Assistance Tax Clarification Act - Amends the Internal Revenue Code to exclude from gross income amounts paid to any person as assistance on account of any property or business damaged by, and for economic revitalization directly related to, the terrorist attacks on the United States that occurred on September 11, 2001.
United States · United States Congress · 10 October 2002
Amends Public Law 107-229 to extend until October 18, 2002, specified continuing appropriations for FY 2003.
United States · United States Congress · 10 October 2002
Amends Public Law 107-229 to extend until November 22, 2002, specified continuing appropriations for FY 2003.
United States · United States Congress · 10 October 2002
Provides for consideration of H.J. Res. 122 (further continuing appropriations for FY 2003).
United States · United States Congress · 10 October 2002
Waives points of order against the conference report to accompany H.R. 5010 (Department of Defense appropriations for FY 2004).
United States · United States Congress · 10 October 2002
Waives all points of order against the conference report to accompany H.R. 5011 (military construction appropriations for FY 2003).
United States · United States Congress · 9 October 2002
Service-Disabled Veterans' Small Business Federal Procurement Preference Act of 2002 - Amends the Small Business Act to treat handicapped individuals as socially disadvantaged individuals for purposes of programs available to such individuals under such Act, unless the Administrator of the Small Business Administration determines that such an individual is not socially disadvantaged. Increases the Government-wide goal of awarding Federal prime contracts and subcontracts to certain small businesses to 28 (currently 23) percent of all such contracts and subcontracts awarded in a fiscal year. Includes small businesses owned by veterans and handicapped individuals as eligible small businesses. Requires contracts and subcontracts so awarded to small businesses owned and controlled by: (1) veterans to comprise at least three percent of such total; (2) socially and economically disadvantaged individuals to comprise at least ten percent; and (3) women to comprise at least five percent. Requires that, of the ten percent required under (2), at least three percent be awarded to small businesses owned and controlled by service-disabled veterans and two percent be awarded to small businesses owned and controlled by handicapped individuals. Establishes the goal for participation by qualified HUBZone small businesses at no less than 2.5 percent of such total for FY 2002 and three percent for FY 2003 and thereafter. Requires each Federal agency to: (1) have annual goals that present the maximum practicable opportunity for eligible small businesses to perform such contracts and subcontracts; and (2) undertake efforts to annually expand small business participation.
United States · United States Congress · 9 October 2002
Amends Public Law 107-229 to extend until November 22, 2002, specified continuing appropriations for FY 2003.
United States · United States Congress · 8 October 2002
See summary of: S. 3081
United States · United States Congress · 8 October 2002
Amends the Internal Revenue Code to: (1) suspend the tax-exempt status of an organization designated by an Executive order as a terrorist organization; (2) prohibit taking a deduction for a contribution to any such organization; (3) prohibit challenging such a suspension or denial in any administrative or judicial proceeding relating to Federal tax liability; and (4) provide any credit or refund due (with interest), in the case of an erroneous designation.
United States · United States Congress · 8 October 2002
Amends the Internal Revenue Code to make the 10 percent additional tax on early distributions of pension plans inapplicable in the case of a "qualified public safety employee" receiving a specified type of benefit (DROP benefit) from a governmental pension plan. Defines "qualified public safety employee."
United States · United States Congress · 8 October 2002
Rural Development Act of 2002 - Amends the Internal Revenue Code to establish a limited rural investment tax credit for each new or existing qualified rural investment building that is part of a qualified rural investment project located in a qualifying county. Directs the Secretary of Education to award rural education initiative grants to States for local educational agencies. Amends the Public Health Service Act to establish a National Physician and Nurse Service Corps Scholarship Program to provide scholarships to individuals seeking medical or nursing education in exchange for service in rural areas.
United States · United States Congress · 8 October 2002
Comprehensive Natural Resources Protection Act of 2002 - Provides, with respect to national parks, lands, forests, resources, wildlife and fisheries, and Native American lands and affairs, for: (1) studies, including studies concerning trail sites, theme sites, heritage sites, park, and other sites; (2) boundary adjustments for recreation, historic, and other sites; (3) memorials, including a memorial to terrorism victims; (4) site designations; (5) land acquisitions, exchanges, and conveyances, including those affecting forest lands and wilderness areas; (6) provisions affecting water resources, oil reserves, and mineral rights; (6) wildlife and fishery management, including provisions affecting the National Sea Grant College Program and the National Oceanic and the Atmospheric Administration commissioned officer corps; (7) provisions affecting U.S. territories; (8) provisions affecting specified Native American tribes' compensation, claims, and lands; and (9) various other provisions concerning, among other things, payments in lieu of taxes (PILT), weed control, and gateway communities.
United States · United States Congress · 8 October 2002
Urges the States by FY 2005 to include in their driver's license exams (including commercial driver's license exams) at least one question regarding highway-rail grade crossings safety.
United States · United States Congress · 7 October 2002
Repeals the expiration date for provisions of the Floyd D. Spence National Defense Authorization Act for Fiscal Year 2001 governing Federal information security and designates such provisions as the Government Information Security Reform Act.
United States · United States Congress · 7 October 2002
States that: (1) empowerment zones in Pulaski County, Arkansas, Oklahoma City, Oklahoma, and Yonkers, New York, shall not include any portion of a central business district (as such term is used for purposes of the most recent Census of Retail Trade) unless the poverty rate for each population census tract in such district is not less than 25 percent; and (2) such exemption shall be considered to have taken affect when the area was designated as an empowerment zone by the Secretary of Housing and Urban Development.
United States · United States Congress · 7 October 2002
Armed Forces Tax Fairness Act of 2002 - Amends the Internal Revenue Code (the Code) to suspend, for members of the uniformed services or of the Foreign Service serving on "qualified official extended duty" (any extended duty while serving at a duty station which is at least 150 miles from the principal residence or while residing under Government orders in Government quarters), the five-year period utilized in determining exclusion of gain from the sale of such residence. Limits the extension of such period to not more than five years. Restores in full the tax-exempt status of death gratuity payments to members of the armed services. Excludes from gross income any fringe benefit qualifying as a "qualified military base realignment and closure fringe." Expands the applicability of rules concerning time for the performance of certain acts under the Code (filing, payment, and etc.) which may be postponed because of service in a combat zone to include service away from a service member's permanent duty station while participating in an operation designated by the Secretary of Defense as a contingency operation. Permits ancestors and lineal descendants of past or present members of the armed forces to be taken into account in determining whether a veterans' organization is exempt from tax. Includes dependent care assistance within the definition of a qualified military benefit which shall be excluded from gross income, thus excluding such assistance from gross income for uniformed service members and former members.
United States · United States Congress · 7 October 2002
Retirement Savings and Security Act of 2002 - Amends the Internal Revenue Code to accelerate, to 2003, increases: (1) to the $5,000 deductible IRA limit; and (2) to the $15,000 pension plan contribution limit. Increases incrementally, from the current of age 70 1/2 to age 75 starting in 2007, the required beginning date for distributions from qualified plans.
United States · United States Congress · 7 October 2002
American Community Renewal Act of 2002 - Amends the Internal Revenue Code to: (1) provide for the designation of 20 additional renewal communities; (2) permit the nonrecognition of gain on proceeds of sales of real property which are invested in qualified renewal community zone assets; and (3) provide for the local allocation of commercial revitalization expenditure amounts if a State fails to adopt a qualified allocation plan.
United States · United States Congress · 7 October 2002
Amends the Internal Revenue Code to modify eligibility for empowerment zone designation by reducing the poverty critieria in the central business districts in Pulaski County, Arkansas, Oklahoma City, Oklahoma, and Yonkers, New York.
United States · United States Congress · 7 October 2002
Seniors' Retirement Recovery Act of 2002 - Amends the Internal Revenue Code to repeal the 1993 income tax increase on Social Security benefits. Appropriates, from the general fund, to the Hospital Insurance Trust Fund amounts equal to the reduction in revenue lost because of the repeal. Increases the age at which pension and retirement distributions must begin from 70 1/2 to 80.
United States · United States Congress · 3 October 2002
No Taxation Without Representation Act of 2002 - Provides for full voting representation in Congress for the residents of the District of Columbia, including two Senators and as many Representatives as a similarly populous State would be entitled to under the law.
United States · United States Congress · 3 October 2002
Amends title XVIII (Medicare) of the Social Security Act with respect to the mechanism for recognizing the costs of new medical services or technologies under the inpatient hospital prospective payment system. Requires the Secretary of Health and Human Services to provide for the addition of new diagnosis and procedure codes on April 1 of each year (beginning with 2004). Declares that the addition of such codes shall not require the Secretary to adjust the payment or diagnosis related group (DRG) classification (if warranted) until the Secretary is able to incorporate such an adjustment into the annual proposed rule for the following fiscal year.
United States · United States Congress · 3 October 2002
Community Disaster Loan Equity Act of 2002 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to: (1) authorize the President to make community disaster loans to State governments; (2) eliminate the $5 million limit on the amount of any such loan; and (3) prohibit the President from requiring the payment of any interest or principal on such a loan made to a State or local government which suffers a substantial loss of tax and other revenues as a result of a major disaster caused by a terrorist attack. Provides that this Act shall apply to any major disaster occurring on or after October 30, 2000.
United States · United States Congress · 3 October 2002
Amends the Internal Revenue Code of 1986 to allow corporations to claim a charitable deduction for the donation of services, calculated at not more than $65 an hour, related to computer design or to computer technology or equipment (as defined by this Act).
United States · United States Congress · 3 October 2002
Penalty and Interest Reform Act of 2002 - Amends the Internal Revenue Code (Code) to move failure to pay estimated tax penalty provisions from chapter 68 (Additions to the Tax, Additional Amounts, and Assessable Penalties) to chapter 67 (Determination of Interest Rate; Compounding of Interest) of the Code while converting such current tax penalty provisions into interest provisions. Exempts from the interest penalty an underpayment of less than $2,000. Excludes from gross income interest paid on any tax overpayment by individuals. Abates interest with respect to: (1) an erroneous refund check without regard to the refund amount (currently $50,000); and (2) taxpayer reliance on written erroneous Internal Revenue Service (IRS) advice. Permits making cash bond deposits to offset potential tax underpayments. Applies the interest netting rules without regard to the 45-day period for individuals. Waives certain penalties for first-time unintentional minor errors for individuals. Establishes a civil penalty, in addition to other penalties provided by law, for certain frivolous tax submissions. Directs the IRS to prescribe a list of frivolous submissions. Gives a person an opportunity to withdraw such submission upon notice by the IRS.
United States · United States Congress · 3 October 2002
Protecting America's Savings Act of 2002 - Amends the Internal Revenue Code (Code) to accelerate increases to: (1) the $5,000 deductible individual retirement account (IRA) contribution limit; and (2) the $15,000 elective deferral and the State, local, and tax-exempt organizations' plan limits, the $10,000 SIMPLE plan limit, and catch-up contribution limits. Increases dollar amount eligibility for IRA and Roth IRA deductibility. Amends Federal law to permit Federal employee Thrift Savings Fund catch-up contributions. Amends the Code to expand and make permanent the credit for elective deferrals and IRA contributions for certain individuals. Increases incrementally, from the current of age 70 1/2 to age 75 the required beginning date for distributions from qualified plans. Establishes: (1) $300,000 amounts not subject to minimum distribution requirements for defined contribution and individual retirement plans; and (2) $0 for defined benefit plans. Permits exempt trust and IRA rollovers to a spouse's retirement plan. Permits rollovers by nonspouse designated beneficiaries for the following retirement plans: (1) State and local government or tax-exempt organization deferred compensation plans; (2) employer-purchased employee annuity plans; and (3) certain tax-exempt organization or public school employee annuities. Provides for certain tax-free changes of "equal periodic payment" annuity determinations. Permits certain nonelective employer contributions to be made for qualifying employee "simple retirement accounts." Imposes a golden parachute excise tax on excessive employee remuneration paid by a corporation after bankruptcy. Provides for a study of defined contribution plan losses due to market volatility.
United States · United States Congress · 3 October 2002
Fairness in Tax Collections Act of 2002 - Amends the Internal Revenue Code to permit the IRS to enter into installment agreements with taxpayers that do not provide for full payment of liabilities. Requires the IRS to review partial payment installment agreements at least every two years. Extends from nine months to two years the period in which proceeds errantly acquired by the IRS may be returned. Authorizes a taxpayer to deposit money in an IRA without regard to the normally applicable limits on IRA contributions and rollovers if the IRS has sent back the money being deposited due to a wrongful levy and it originally came from an IRA. Requires the contribution to be to the same type of IRA from which the amounts were withdrawn. Stipulates that in such a scenario any tax on the withdrawal from the IRA is abated. Considers interest paid by the IRS to the taxpayer part of the original payment and is not counted as gross income. Modifies the suspension date of the statute of limitations for taxpayers suffering significant hardship by applying it only if the date of the decision by the National Taxpayer Advocate is at least seven days after the date of the taxpayer's application. Directs the Secretary to study IRS practices concerning liens and levies. Increases the allocations for low-income taxpayer clinics, from the current $6 million annually, to $15 million annually by 2003.
United States · United States Congress · 3 October 2002
Tax Administration Efficiency and Confidentiality Act of 2002 - Amend the Internal Revenue Code regarding: (1) termination of Internal Revenue Service employees for misconduct; (2) Tax Court authority to apply the doctrine of equitable recoupment; (3) Tax Court jurisdiction over collection due process cases; (4) Office of Chief Counsel review of offers of compromise; (5) delay in due date for electronically filed individual income tax returns; (6) joint return collection activities disclosable to either spouse based on oral request; (7) taxpayer representatives returns not subject to examination on sole basis of taxpayer representation; (8) contractor compliance with confidentiality safeguards; (9) standards for disclosure request and consent; (10) taxpayer notice concerning administrative determination of unlawful inspection of return; (11) disclosure in emergency circumstances; (12) taxpayer communications; (13) enrolled agents; (14) financial management service fees; and (15) Treasury auctions.
United States · United States Congress · 2 October 2002
Eliminating Profiteering Through Illegal Cigarette Sales Act or EPICS Act - Prohibits the sale of tobacco products advertised through the Internet or other means to an individual under the legal age when such products are shipped by carrier in or affecting interstate commerce and the seller fails to comply with each of specified procedures. Includes in such procedures receiving a copy of a government-issued document providing the identity, address, and birth date of the buyer and a signed statement of certain confirmations of an order before any such products are so shipped. Requires tobacco product advertising on the Internet to prominently display a warning label unless cigarettes are being sold to someone in the business of selling tobacco products. Deems violations of provisions of this Act regarding unlawful sales to minors to be unfair or deceptive acts or practices in or affecting commerce under the Federal Trade Commission Act, and imposes criminal penalties. Authorizes a State attorney general and certain other persons to bring a civil action for injunctive relief to restrain a person from engaging, or continuing to engage, in a violation of provisions regarding unlawful sales to minors. Requires a person taking a delivery sale of cigarettes to include a certain statement regarding taxes in a conspicuous manner. Imposes penalties for certain offenses in delivering cigarettes, including for failure to abide by excise and sales tax laws of States. Permits a State attorney general and certain other persons to bring an action in U.S. District Court to prevent and restrain violations of this Act. Classifies cigarettes as nonmailable. Modifies penal provisions regarding trafficking in contraband cigarettes.
United States · United States Congress · 2 October 2002
Stealth Lobbyist Disclosure Act of 2002 - Amends the Lobbying Disclosure Act of 1995 to redefine the term "client" with respect to coalitions and associations on whose behalf a lobbyist must file a registration. Provides that, in the case of a coalition or association that employs or retains other persons to conduct lobbying activities, each of the individual members of the coalition or association, and not the coalition or association itself as under current law, is the client for whom a registration must be filed. Makes an exception for certain tax-exempt associations and for certain members of a coalition or association if the amount reasonably expected to be contributed by such member toward specific legislation-influencing activities of the coalition or association is less than $1,000 per any semiannual period.
United States · United States Congress · 2 October 2002
Amend s the Internal Revenue Code to allow the $25,000 passive loss offset for individuals without any income-based phaseout for investments in wind energy facilities. Exempts such wind energy facility offset from the active participation requirement.
United States · United States Congress · 2 October 2002
Stealth Lobbyist Disclosure Act of 2002 - Amends the Internal Revenue Code to treat certain associations or coalitions as political organizations and thus require disclosure of their lobbying activities. Sets forth disclosure requirements, including notice requirements. Exempts certain tax-exempt organizations from such provisions.
United States · United States Congress · 2 October 2002
District of Columbia Appropriations Act, 2003 - Makes appropriations to the District of Columbia for FY 2003, including amounts for the Federal payments: (1) for District of Columbia Resident Tuition Support; (2) for emergency planning and security costs in the District; (3) to District of Columbia Courts; (4) for Defender Services in District of Columbia Courts; (5) to the Court Services and Offender Supervision Agency for the District of Columbia (including transfer of funds); (6) to the Department of Transportation in the District; (7) to the Chief Financial Officer of the District; (8) to continue improvements on the Potomac Southwest Waterfront; (9) to reimburse Fairfax County, Virginia, for asbestos remediation on the former site of the Lorton Correctional Complex; (10) to the D.C. Fire and Emergency Medical Services Department to repair, renovate, and rehabilitate fire stations in need of capital improvements; (11) to the D.C. Public Education System for special education transportation services and satellite facilities; (12) to the Credit Enhancement Revolving Fund; (13) for the Family Literacy Program; (14) to the D.C. Water and Sewer Authority to begin implementing the Combined Sewer Overflow Long-Term Plan; and (15) for capital infrastructure development. Appropriates specified sums out of the District's general fund and/or other funds for the current fiscal year for: (1) operating expenses (with limitations); (2) governmental direction and support; (3) economic development and regulation; (4) public safety and justice; (5) the public education system (including transfer of funds); (6) human support services (including transfer of funds); (7) public works; (8) the Reserve; (9) the Emergency and Contingency Reserve Fund; (10) repayment of certain loans and interest; (11) repayment of General Fund Recovery Debt; (12) payment of interest on short-term borrowing; (13) for principal and interest payments on the District's Certificates of Participation, issued to finance the ground lease underlying the building located at One Judiciary Square; (14) refunds and for the payment of legal settlements or judgments that have been entered against the District government; (15) the John A. Wilson Building; (16) workforce investments; (17) the Tobacco Settlement Trust Fund; (18) for certain non-departmental agency costs; (19) pay-as-you-go capital in lieu of capital financing; (20) for the District's costs of public safety expenses related to National Special Security Events and for the costs of providing support to respond to immediate and specific terrorist threats or attacks in the District or surrounding jurisdictions; (21) the Water and Sewer Authority; (22) the Washington Aqueduct; (23) the Stormwater Permit Compliance Enterprise Fund; (24) the Lottery and Charitable Games Enterprise Fund; (25) the Sports and Entertainment Commission; (26) the District of Columbia Retirement Board; (27) the Washington Convention Center Enterprise Fund; (28) the National Capital Revitalization Corporation; and (29) capital outlay (including rescissions).
United States · United States Congress · 2 October 2002
Community Disaster Loan Equity Act of 2002 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to: (1) authorize the President to make community disaster loans to State governments; (2) eliminate the $5 million limit on the amount of any such loan; and (3) prohibit the President from requiring the payment of any interest or principal on such a loan made to a State or local government which may suffer a substantial loss of tax and other revenues as a result of a major disaster caused by a terrorist attack. Provides that this Act shall apply to any major disaster occurring on or after October 30, 2000.
United States · United States Congress · 2 October 2002
Provides for consideration of H.J. Res. 112 (making further continuing appropriations for FY 2003).
United States · United States Congress · 1 October 2002
Beneficiary Access to Care and Medicare Equity Act of 2002 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to make a variety of changes with regard to rural health care and such matters as: (1) urban and rural standardized payment amounts under the Medicare inpatient hospital prospective payment system (PPS); (2) disproportionate share hospital (DSH) treatment for rural hospitals and urban hospitals with under 100 beds; (3) a temporary increase in payments for certain services furnished by small rural hospitals and for hospice care furnished in a frontier area; (4) the critical access hospital program; (5) the physician fee schedule geographic adjustment factor; (6) the Medicare incentive payment program; and (7) exclusion of certain rural health clinic and federally qualified health center services from the Medicare PPS for skilled nursing facilities. Amends the Public Health Service Act to give the Secretary the authority to make and guarantee loans from the loan fund to any rural entity for projects for capital improvements. Amends SSA title XVIII with respect to revising updates and restoring payments under: (1) Medicare part A (Hospital Insurance) relating to inpatient hospital services, skilled nursing facility services, and hospice services; (2) Medicare part B (Supplementary Medical Insurance) relating to physicians' and other services; and (3) both parts A and B relating to home health services, eliminating the 15 percent reduction in PPS payment rates. Amends SSA title XVIII part C (Medicare+Choice) with respect to: (1) the minimum percentage increase for 2003 and 2004; (2) authority regarding disapproval of unreasonable beneficiary cost-sharing; (3) specialized Medicare+Choice plans for special needs beneficiaries; and (4) extension of new entry bonus. Revises requirements for Medicare appeals, regulatory procedures, contracting, education and outreach, prepayment review, overpayment recovery, and enforcement. Amends SSA title XIX (Medicaid) with respect to: (1) Medicaid disproportionate share hospital (DSH) allotments; (2) extension of Medicare cost-sharing for part B premiums for certain additional low-income Medicare beneficiaries; and (3) inpatient drug prices in the best price exemptions for the Medicaid drug rebate program. Amends SSA title XXI (State Children's Health Insurance) (SCHIP) with respect to SCHIP allotments. Amends SSA title XI on the process for the development and implementation of Medicaid and SCHIP waivers. Amends SSA title XX (Block Grants to States for Social Services) to provide for additional temporary grants for State fiscal relief. Establishes the Safety Net Organizations and Patient Advisory Commission to review health care safety net programs.
United States · United States Congress · 1 October 2002
Individual and Small Business Tax Simplification Act of 2002 - Amends the Internal Revenue Code, with respect to individuals, to: (1) increase the alternative minimum tax exemption amount and adjust it for inflation; (2) replace the head of household filing status with a new exemption for single parents; (3) allow itemizers and nonitemizers a 50 percent deduction for capital gains; (4) repeal the two percent floor on miscellaneous itemized deductions; (5) accelerate the repeal of the phaseout of the overall limitation on itemized deductions and the phaseout of the personal exemption; (6) exclude means-tested government benefits from determining support for purposes of the dependency exemption; (7) combine the Hope and Lifetime Learning credits into an education credit; and (8) revise the taxation of social security benefits, the deduction for points on a home mortgage, the taxation of minors, the dependent care credit, the additional exemption for qualifying children, and the definition of qualified higher education expenses. Revises provisions concerning small business taxation to: (1) eliminate the S corporation filing category and permit eligible corporations that are not publicly traded to be treated as a partnership; (2) increase expensing under section 179; (3) repeal provisions concerning collapsible corporations; (4) exclude from net earnings from self-employment partnership income attributable to capital; (5) repeal the ability to elect large partnership reporting rules; and (6) revise provisions concerning the exchange of property held for productive use, the definition of qualified corporate partners for purposes of the at risk rules, payments to retiring partners, foreign currency transactions, and a limited entrepreneur with respect to farming.
United States · United States Congress · 1 October 2002
Amends Public Law 107-229 to extend until October 11, 2002, specified continuing appropriations for FY 2003.
United States · United States Congress · 26 September 2002
Maximum Economic Growth for America Through Safety Improvements Act (MEGA Safe Act) - Directs the Secretary of Transportation: (1) before making an apportionment for the Interstate and National Highway System program, the Congestion Mitigation and Air Quality Improvement program, or the Surface Transportation program for a fiscal year, to set aside specified funds to carry out a program to assist local governments in placing fluorescent yellow-green signs to mark school zone crossing and other pedestrian and bicycle highway crossing zones; and (2) to establish a rural local roads safety pilot program to carry out construction, improvement, and maintenance activities that provide a safety benefit. Designates the left lane of each highway on the Interstate System as a national passing lane. Directs the Secretary to provide not less than $1 million to each State and the District of Columbia to inform the public that: (1) passing lanes should be used for passing only; and (2) motor vehicle operators in the left lane should always move to the right to permit other vehicles to pass. Requires the Secretary to provide jointly to the American Trucking Association and the American Automobile Association a $1 million grant to identify the most effective means by which drivers of passenger vehicles and commercial trucks may be educated concerning the hazards, and the safest manner, of driving in each other's presence. Directs the Secretary to require that a trained and certified person be responsible for ensuring the effective administration of any traffic control plan of a highway project that uses Federal funds.
United States · United States Congress · 26 September 2002
Amends the Internal Revenue Code to exclude from income and employment taxes and wage withholding a rebate of real or personal property taxes, or any other benefit, provided by a State or political subdivision on account of services performed as a member of a qualified volunteer emergency response organization.
United States · United States Congress · 26 September 2002
Amends the Internal Revenue Code to exclude from gross income compensation for "covered service" in the U.S. military. Defines "covered service" as service outside the United States in a permanent change of station for which travel, transportation, and housing of dependents at Government expense would generally not be authorized under policies of the Secretary concerned, except in the case of service in such an assignment for which such travel, transportation, and housing is actually authorized as an exception to the applicable policy. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend customs user fees through October 31, 2008.
United States · United States Congress · 25 September 2002
Amends the Omnibus Parks and Public Lands Management Act of 1996 to direct the Secretary of the Interior, acting through the Director of the National Park Service, to establish a program to preserve and restore historic buildings and structures at historically black colleges and universities (institutions). Requires the Secretary, through the National Trust for Historic Preservation, to: (1) assess all such buildings and structures; (2) obtain an independent estimate of the complete cost of restoring them; and (3) determine the fiscal capacity of each institution to complete the restoration. Instructs the Secretary: (1) to award up to 15 grants each fiscal year to pay the Federal share of the cost of restoring such buildings and structures; and (2) in awarding such grants, to consider the relative severity of the threat to such a building's or structure's historic value and status. Requires grant recipients to agree to provide the non-Federal share and, for a period specified by the Secretary, to: (1) make no alteration to the building or structure without the Secretary's approval; (2) allow public access to the restored building or structure for interpretive and educational purposes; and (3) not receive other funds under the National Historic Preservation Act. Requires the non-Federal share of a project's cost to be 30 percent. Waives such non-Federal share for an institution that does not have an endowment or that has an endowment of under $50 million. Applies such waiver to any grant provided to an institution after November 12, 1996.
United States · United States Congress · 25 September 2002
Dividend Payment Incentive Act of 2002 - Amends the Internal Revenue Code to allow dividends as a deduction in the case of a C corporation, except in the case of: (1) a regulated investment company; (2) a real estate investment trust; or (3) an exempt corporation.
United States · United States Congress · 25 September 2002
Restoring Investor Confidence Act of 2002 - Amends the Internal Revenue Code to revise rules concerning capital gain for taxpayers other than corporations to establish a new general rule which provides that if for any taxable year a taxpayer other than a corporation has a capital gain, 55 percent of such gain shall be a deduction from gross income. Excludes from individual gross income 55 percent of dividends received from a domestic corporation.
United States · United States Congress · 25 September 2002
Makes continuing appropriations for FY 2003. Appropriates amounts for continuing, at the current rate of operations, projects or activities which were conducted in FY 2002 and for which appropriations, funds, or other authority was made available in: (1) the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2002; (2) the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2002; (3) the Department of Defense Appropriations Act, 2002; (4) the District of Columbia Appropriations Act, 2002; (5) the Energy and Water Development Appropriations Act, 2002; (6) the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2002; (7) the Department of the Interior and Related Agencies Appropriations Act, 2002; (8) the Departments of Labor, Health and Human Services, and Education and Related Agencies Appropriations Act, 2002; (9) the Legislative Branch Appropriations Act, 2002; (10) the Military Construction Appropriations Act, 2002; (11) the Department of Transportation and Related Agencies Appropriations Act, 2002; (12) the Treasury and General Government Appropriations Act, 2002; and (13) the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2002. Provides funding under this resolution until enactment into law of any covered appropriation or the applicable appropriations Act (without any provision for the covered appropriation) or October 4, 2002, whichever occurs first. Authorizes continuation of other specified activities through such date.