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Bill· SS. 3679 (110th)referred
United States · United States Congress · 2 October 2008
Amends the Internal Revenue Code to modify the tax credit for producing electricity from closed or open-loop biomass facilities equipped with a metering device to determine electricity consumption or sale to allow a tax credit after 2008 for electricity produced and consumed at such facilities and to extend the credit period for such production.
Bill· HRH.R. 7249 (110th)referred
United States · United States Congress · 2 October 2008
Renewable Power for Agriculture Incentive Program Act of 2008 - Amends the Internal Revenue Code to allow a business-related tax credit for excessive fuel costs for creditable fuel (i.e., fossil fuel or electricity) used by a taxpayer in the trade or business of farming. Defines "excessive fuel cost" as the excess amount paid for creditable fuel over the adjusted base price for such fuel (the average price for such fuel on September 6, 2004, for the region in which the taxpayer purchased such fuel). Terminates such credit after 2013.
Bill· HRH.R. 7251 (110th)referred
United States · United States Congress · 2 October 2008
Land-In-Trust Impact Aid and PILT Equity Act of 2008 - Amends the Elementary and Secondary Education Act of 1965 to ensure that local educational agencies (LEAs) receive full payment under the Impact Aid program, which compensates LEAs for the financial burden of federal activities affecting their school districts, for federal property within their districts that is held in trust for federally recognized Indian tribes or individual Indians. Directs the Secretary of the Interior to make full payments in lieu of taxes (PILT) to local governments that have federal lands within their areas that are held in trust for federally recognized Indian tribes or individual Indians.
Bill· HRH.R. 7242 (110th)referred
United States · United States Congress · 2 October 2008
Pension Protection Act IRC Amendments of 2008 - Makes technical corrections to various pension-related provisions of the Internal Revenue Code, including provisions relating to: (1) the interest rate assumption for applying pension plan benefit limitations; (2) minimum individual retirement account (IRA) distribution requirements; (3) employer-owned life insurance contracts; (4) the deductibility of contributions to defined benefit and contribution plans; (5) the treatment of distributions from governmental retirement plans for health and long-term care insurance for public safety officers; (6) safe harbor rules for combined pension plans; and (7) the inclusion of employee stock ownership plans (ESOPs) in combined pension plans. Directs the Secretary of the Treasury to issue guidance for allowing a nonspouse pension beneficiary to use a specified life expectancy rule.
Resolution· HCONRESH.Con.Res. 442 (110th)passed
United States · United States Congress · 2 October 2008
Directs the Secretary of the Senate to correct the enrollment of S. 3001 (Duncan Hunter National Defense Authorization Act for Fiscal Year 2009) by: (1) changing the amount authorized to be appropriated for the Army from $11,045,052,000 to $10,943,840,000; and (2) changing the amount of authorized funds available for the Defense Science and Technology Program from $11,799,660 to $11,799,660,000.
Bill· SS. 3676 (110th)referred
United States · United States Congress · 1 October 2008
Volunteer Firefighter and EMS Support Act of 2008 - Amends the Federal Fire Prevention and Control Act of 1974 to direct the Secretary of Homeland Security to establish a program to provide funds to a state or local government, nonprofit firefighter association, or governmental or nongovernmental emergency medical services (EMS) organization, that carries out a volunteer firefighter incentive program in accordance with this Act. Directs the Secretary, for each fiscal year in which a state or local government, nonprofit firefighter association, or governmental or nongovernmental EMS organization carries out a volunteer firefighter incentive program, to pay such government, association, or organization (organization), out of any money in the Treasury not otherwise appropriated for such fiscal year, a sum equal to the total expenditures of funds not received from the federal government made by such organization for that fiscal year to carry out the program. Declares that this constitutes budget authority in advance of appropriations Acts and represents the obligation of the federal government to provide payment to a state or local government, nonprofit firefighter association, or governmental or nongovernmental EMS organization any amount so provided. Requires reports from recipients, and from the Secretary annually, to Congress.
Bill· SS. 3678 (110th)referred
United States · United States Congress · 1 October 2008
Vietnam Human Rights Act of 2008 - Prohibits the federal government from providing the government of Vietnam with nonhumanitarian development, trade, economic, and security assistance during any fiscal year that exceeds the amount of such assistance provided during FY2008, unless such increases are matched or exceeded by additional funding for programs focusing on human rights and democracy promotion. Authorizes the President to waive such requirements if increased U.S. nonhumanitarian assistance would promote the purposes of this Act or it is otherwise in the U.S. national interest. Prohibits the President from providing certain duty-free treatment for Vietnam until the President certifies to Congress that the government of Vietnam protects freedom of association and does not engage in violations of workers' rights. Authorizes the President to provide U.S. assistance through appropriate nongovernmental organizations and the Human Rights Defenders Fund for the support of individuals and organizations to promote human rights in Vietnam. Expresses the sense of Congress regarding diplomacy with the government of Vietnam. Declares it is U.S. policy: (1) to take such measures as are necessary to overcome the jamming of Radio Free Asia by the government of Vietnam; and (2) that educational and cultural exchange programs with Vietnam should promote progress toward freedom and democracy. Declares it is U.S. policy to offer refugee resettlement to Vietnam nationals (including members of the Montagnard ethnic minority groups) who were eligible for the Humanitarian Resettlement program, the Orderly Departure program, the Resettlement Opportunities for Vietnamese Returnees program, the Amerasian Homecoming Act of 1988, or any other U.S. refugee program, but who were deemed ineligible for reasons of administrative error or certain circumstances beyond their control.
Bill· SS. 3669 (110th)referred
United States · United States Congress · 1 October 2008
Harmonizing America's Energy, Economy, Environment, and National Security Act of 2008 - Terminates all federal prohibitions on the expenditure of appropriated funds to conduct natural gas, oil, oil shale, and other energy production leasing, preleasing, and related activities on federal lands. Revokes withdrawals of federal submerged lands of the Outer Continental Shelf (OCS) from leasing for natural gas and oil exploration, development, and production. Amends the Gulf of Mexico Energy Security Act of 2006 to repeal the moratorium on oil and gas leasing in specified areas of the Gulf of Mexico. Amends the Outer Continental Shelf Lands Act to: (1) require the Secretary of the Interior (Secretary) to consult with the Secretary of Defense to resolve conflicts between military operation needs for the OCS and leasing under such Act; (2) provide for the allocation of sums collected by the United States under qualified leases on submerged lands made available for leasing under such Act; and (3) modify state seaward boundaries requirements. Authorizes the exploration, leasing, development, production, and transportation of oil and gas in and from the Coastal Plain in Alaska. Instructs the Secretary to establish a competitive oil and gas leasing program for oil and gas exploration, development, and production in the Coastal Plain. Amends the Alaska National Interest Lands Conservation Act to repeal the prohibition against production of oil and gas from Arctic National Wildlife Refuge. Authorizes the Secretary to designate not more than 45,000 acres of the Coastal Plain (including the Sadlerochit Spring area) as a special area requiring special management and regulatory protection. Prohibits surface occupancy of land comprising the special area if the Secretary leases all or a portion of it for oil and gas exploration and development. Authorizes the Secretary to lease all or a portion of a special area under terms that permit the use of horizontal drilling technology from sites on leases located outside the special area (directional drilling). Sets forth procedures for lease sales and lease grants. Prohibits the Secretary from closing land within the Coastal Plain to oil and gas leasing, exploration, development, or production except in accordance with this Act. Sets forth provisions concerning: (1) Coastal Plain environmental protection; (2) rights-of-way and easements; and (3) local government impact aid and community service assistance. Amends the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008 to repeal the prohibition against using funds to: (1) promulgate regulations regarding a commercial leasing program for oil shale (and tar sands) resources on public lands pursuant to requirements of the Energy Policy Act of 2005 with regard to a programmatic environmental impact statement for such program; or (2) conduct an oil shale lease sale. Establishes the Conservation Reserve Account and the Renewable Energy Reserve Account to offset the cost of legislation enacted after this Act for, respectively: (1) conservation programs and tax credits and deductions for energy efficiency in residential, commercial, industrial, and public sectors; and (2) accelerating the use of cleaner domestic energy resources and alternative fuels, promoting the use of energy-efficient products and practices, and increasing research, development, and deployment of clean renewable energy and efficiency technologies and job training programs. Amends the Energy Independence and Security Act of 2007 to repeal the prohibition against federal agencies procuring alternative or synthetic fuel for mobility-related uses, other than for research or testing, unless the associated lifecycle GHG emissions will be less than or equal to emissions from fuel from conventional petroleum sources.
Bill· SS. 3659 (110th)referred
United States · United States Congress · 1 October 2008
Corporate Transparency Act of 2007 [ sic ] - Amends the Internal Revenue Code to require the Secretary of the Treasury to: (1) disclose to the Securities and Exchange Commission (SEC) certain tax return information of public entities whose securities are required to be registered under the Securities and Exchange Act of 1934 relating to the reconciliation of financial income statements with income tax returns (i.e., Schedule M-3); and (2) post on the Internet certain identifying and financial information for such entities. Imposes penalties on entities that fail to file required information. Requires the Secretary to study and report to Congress on the reconciliation of differences between financial income statements of public entities with income tax returns.
Bill· SS. 3675 (110th)referred
United States · United States Congress · 1 October 2008
Compensation Fairness Act of 2008 - Amends the Internal Revenue Code to: (1) allow an annual inflation adjustment to the $1 million limitation on the tax deduction for employee remuneration; and (2) repeal exceptions to such limitation for remuneration payable on a commission basis and for other performance-based compensation.
Bill· SS. 3670 (110th)referred
United States · United States Congress · 1 October 2008
Prohibits a state from imposing any tax on electronic commerce (i.e., transactions conducted over the Internet or through Internet access) of any person unless that person has a physical presence in the state during the period to which such tax applies or is incorporated or domiciled in such state. Sets forth criteria for determining physical presence, including: (1) being physically in a state or assigning one or more employees to a state; (2) using the services of an agent to establish or maintain the electronic commerce in the state; or (3) leasing or owning tangible personal or real property in the state. Exempts from the definition of "physical presence" entering into an agreement to share revenue generated by the electronic commerce of another person, presence in the state for less than 15 days in a taxable year, and presence in a state to conduct limited or transient business activity.
Bill· SS. 3655 (110th)referred
United States · United States Congress · 30 September 2008
Affordable Tutoring of Our Children Act - Amends the Internal Revenue Code to expand the tax exclusion for employer-provided dependent care assistance to allow employees an additional exclusion for payments of supplemental instructional services assistance to their dependents between the ages of 5 and 19 who have not obtained a high school diploma or been awarded a general education degree. Defines "supplemental instructional services assistance" to include instructional or other academic enrichment services that are: (1) in addition to instruction provided during the school day; (2) specifically designed to increase academic achievement; (3) in the core academic studies of English, reading or language arts, mathematics, science, foreign languages, civics and government, economics, arts, social studies, and geography; and (4) provided by a state certified instructor or accredited organization.
Bill· HRH.R. 7236 (110th)referred
United States · United States Congress · 29 September 2008
Small Business Start-Up Support Act of 2008 - Amends the Internal Revenue Code to increase from $5,000 to $10,000 the dollar amount of the tax deduction for trade or business start-up expenditures.
Bill· HRH.R. 7238 (110th)referred
United States · United States Congress · 29 September 2008
Amends the Internal Revenue Code to allow: (1) a residential energy efficient tax credit for 30% of the cost of qualified energy storage air conditioner property installed in a principal residence; and (2) an energy tax credit for 30% of qualified energy storage air conditioner property installed before January 1, 2015. Defines "qualified energy storage air conditioner property" as a cooling system that: (1) consists of thermal or ice storage components that create, store, and supply cooling energy to reduce peak electricity demand; (2) can deliver a minimum of 29,000 Btu and a maximum of 240,000 Btu of cooling capacity; (3) is designed to deliver such cooling capacity for a minimum continuous period of three hours; (4) is designed to reduce peak kilowatt demand by 90% for the cooling load served; and (5) is designed not to exceed the 24-hour energy consumption of conventional cooling equipment by more than 10%.
Bill· HRH.R. 7239 (110th)referred
United States · United States Congress · 29 September 2008
American Energy, American Innovation Act of 2008 - Directs the Secretary of Energy to publish a plan for the sale and replacement of oil from the Strategic Petroleum Reserve (SPR). Amends the Commodity Exchange Act to extend the jurisdiction of the Commodity Future Trading Commission (CFTC) to energy commodities. Establishes the National Commission on Energy Independence in the legislative branch. Amends the Public Utility Regulatory Policies Act of 1978 to establish a national renewable electricity standard. Declares the sense of the Senate that by calendar 2030 the United States should be energy independent. Amends the Internal Revenue Code to establish a tax credit for qualified plug-in electric drive motor vehicles and fuel-efficient motor vehicles placed in service by a taxpayer. Directs the Secretary of Energy to conduct a program of alternative fuel transportation technology research, development, demonstration, and commercial application. Increases and revises the formula for corporate fuel economy standards. Prescribes tax credits and exclusions for: (1) enhancing the efficiency of specified conventional vehicles; (2) advanced coal and coal gasification (carbon mitigation) project investments; and (3) qualified energy conservation bonds. Extends tax credits for specified alternative fuels and biofuels and qualified green buildings and sustainable design projects. Prescribes renewable energy and geothermal tax incentives. Prohibits oil or natural gas leasing in any except specified areas of the Outer Continental Shelf (OCS), and only according to certain requirements. Directs the Secretary of the Interior to establish Federal OCS Joint Regional Permitting Offices. Amends the Energy Policy Act of 1992 to require the Secretary of Energy to carry out a coal innovation direct loan program. Authorizes appropriations to the Nuclear Regulatory Commission (NRC) to establish an additional 60 full-time equivalent positions to expedite and streamline the processing of applications for new nuclear plants. Establishes an interagency working group to make recommendations to coordinate federal government actions and programs to promote increasing domestic manufacturing capacity and export of domestic nuclear energy products and services. Amends the Internal Revenue Code to allow a tax credit for carbon dioxide sequestration. Offsets expenditures under this Act by terminating specified tax deductions and credits. Includes in gross income any compensation deferred under a nonqualified deferred compensation plan of a nonqualified entity when there is no substantial risk of forfeiture of the rights to such compensation.
Bill· HRH.R. 7223 (110th)referred
United States · United States Congress · 29 September 2008
Free Market Protection Act of 2008 - Government-Sponsored Enterprises Free Market Reform Act of 2008 - Directs the Director of the Federal Housing Finance Agency (FHFA) to: (1) determine the financial viability of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs); (2) terminate the conservatorship of a GSE that is financially viable; or (3) appoint the FHFA as receiver for a GSE that is not financially viable. Amends the Housing and Community Development Act of 1992 to limit the mortgage assets held by a GSE upon its emergence from conservatorship, including an increase in its minimum capital requirements. Amends the Economic Stimulus Act of 2008 to repeal the temporary increase in conforming loan limits applicable to the GSEs. Prohibits the GSEs from purchasing mortgages that exceed the median area home price. Requires the GSEs to pay state and local taxes. Directs the Comptroller General to study and report to Congress on recoupment of costs for the federal guarantee regarding the GSEs. Requires the wind down of operations and dissolution of a GSE whose charter has not been renewed. Price Stability Act of 2008 - Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to: (1) establish an explicit numerical definition of "price stability"; and (2) maintain a monetary policy that promotes long-term price stability. Repeals the Full Employment and Balanced Growth Act of 1978 (Humphrey-Hawkins Act). Amends the Employment Act of 1946 and the Congressional Budget Act of 1974 to reflect the changes made by this Act. Amends the Internal Revenue Code to: (1) prescribe a temporary zero percent capital gains rate for individuals and corporations; (2) substitute an indexed basis for the adjusted basis of certain assets in order to determine gain or loss upon disposition; (3) provide a five-year carryback of certain losses for taxable years ending during 2007, 20008, and 2009; and (4) modify the deduction for dividends received from controlled foreign corporations. Directs the Securities and Exchange Commission to suspend the application of fair value reporting standards to troubled assets held by financial institutions. Directs the General Accountability Office to analyze and report to certain congressional committees on the effect of fair value accounting standards upon financial institutions. Makes the Secretary of the Treasury responsible to determine the terms of a program to insure payment of up to 100% of principal and interest on each mortgage-backed security held by a financial institution on or before September 24, 2008. Establishes a Mortgage-Backed Securities Fund. Treats gain or loss from the sale or exchange of preferred GSE stock by specified financial institutions as ordinary income or loss. Requires an officer of an institution to pay to the Department of the Treasury any funds received as incentive-based or equity-based compensation during a specified period before the year in which the institution is subject to government intervention.
Bill· HRH.R. 7229 (110th)referred
United States · United States Congress · 29 September 2008
Children's Budget Act - Requires the President's annual budget to Congress to include a detailed, separate analysis for the prior fiscal year, the current fiscal year, the fiscal year for which the budget is submitted, and the ensuing fiscal year identifying the amounts of gross and net appropriations or obligational authority and outlays directed to children and children's programs within the United States and territories.
Bill· HRH.R. 7237 (110th)referred
United States · United States Congress · 29 September 2008
Middle Class Dependent Care Fairness Act of 2008 - Amends the Internal Revenue Code to eliminate the mandatory reduction in the rate of the tax credit for household and dependent care services for taxpayers whose adjusted gross incomes exceed $15,000.
Bill· HRH.R. 7227 (110th)referred
United States · United States Congress · 29 September 2008
Death in Custody Reporting Act of 2008 - Requires states that receive certain criminal justice assistance grants to report to the Attorney General on a quarterly basis certain information regarding the death of any person who is detained, under arrest, en route to incarceration, or incarcerated in state or local facilities or a boot camp prison. Imposes penalties on states that fail to comply with such reporting requirements. Requires the Attorney General to: (1) study the information obtained from states relating to deaths in custody; and (2) collect information regarding the death of any person in custody for each fiscal year.
Law· HRH.R. 7222 (110th)enacted
United States · United States Congress · 29 September 2008
Amends the Andean Trade Preference Act (ATPA) to extend the ATPA program through December 31, 2009. Extends through FY2010 preferential treatment for apparel articles assembled in one or more beneficiary countries from regional fabrics or regional components, and specified other type apparel (brassieres). Amends the Dominican Republic-Central America-United States Free Trade Agreement Implementation Act to direct the Secretary of Commerce to establish a program to provide earned import allowance certificates to any producer or entity controlling production of eligible apparel articles in an eligible country, based on specified elements. Declares that eligible apparel articles wholly assembled in an eligible country and imported directly from an eligible country shall enter the United States free of duty, without regard to the source of the fabric or yarns from which the articles are made, if such apparel articles are accompanied by an earned import allowance certificate reflecting the amount of credits equal to the total square meter equivalents of fabric in such apparel articles. Amends the African Growth and Opportunity Act to repeal certain special rules for fabrics and yarns in commercial quantities in Africa. Adds Mauritius as a lesser developed beneficiary sub-Saharan African country (LDC) for purposes of the application of preferential treatment to apparel articles wholly assembled, or knit-to-shape and wholly assembled, or both, in one or more LDCs, regardless of the country of origin of the fabric or the yarn used to make such articles, that are imported into the United States. Directs the U.S. International Trade Commission (ITC) to review, identify, and report to the appropriate congressional committees and the Comptroller General on yarns, fabrics, and other textile and apparel inputs that through new or increased investment or other measures can be produced competitively in beneficiary sub-Saharan African countries. Amends the Trade Act of 1974 to extend the Generalized System of Preferences program through December 31, 2009. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States. Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase by 2.25% the amount in effect on the date of enactment of this Act of any corporate estimated tax installment otherwise due by a corporation with assets of not less than $1 billion in July, August, or September 2013.
Bill· HRH.R. 7220 (110th)referred
United States · United States Congress · 29 September 2008
Amends the Andean Trade Preference Act (ATPA) to extend the ATPA program through December 31, 2009. Extends through FY2010 preferential treatment for apparel articles assembled in one or more beneficiary countries from regional fabrics or regional components, and specified other type apparel (brassieres). Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States. Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase by 0.5% the amount in effect on the date of enactment of this Act of any corporate estimated tax installment otherwise due by a corporation with assets of not less than $1 billion in July, August, or September 2013.
Bill· HRH.R. 7206 (110th)referred
United States · United States Congress · 28 September 2008
Spending Reform Act of 2008 - Amends the Congressional Budget Act of 1974 to require the concurrent budget resolution to include discretionary spending limit for five successive fiscal years. Sets forth points of order against consideration of legislation in Congress (currently, only the Senate) that would exceed for any fiscal year discretionary spending limit established in the most recent concurrent budget resolution for that fiscal year (currently, the Balanced Budget and Deficit Control Act of 1985 [Gramm-Rudman-Hollings Act]). Makes such point of order inapplicable if a declaration of war by Congress is in effect. Sets forth points of orders for consideration of certain concurrent budget resolutions. Establishes discretionary spending limit for FY2009 as the number set forth in the FY2009 budget resolution. Permits waivers or suspension of such requirements, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate. Establishes the Federal Agency Sunset Commission to review and report to Congress on the efficiency and public need for each federal agency, recommending abolishment or reorganization. Provides for relocation of federal employees if their agency is abolished. Requires the Comptroller General and the Director of Congressional Budget Office (CBO), in cooperation with the Director of the Congressional Research Service (CRS), to inventory federal programs to advise and assist Congress and the Commission in carrying out such requirements. Establishes a Joint Select Committee on Earmark Reform. Sets forth a point of order against consideration of legislation containing a congressional earmark or limited tax or tariff benefit. Establishes the Securing America's Future Economy Commission to examine the long-term fiscal challenges facing the United States and develop legislation designed to address specified issues. Authorizes the President and the House and Senate Budget Committees to propose alternative legislation. Requires the long-term CBO cost estimate of such proposals to be published in the Congressional Record.
Bill· HRH.R. 7211 (110th)referred
United States · United States Congress · 28 September 2008
Minerals Management Service Improvement Act of 2008 - Prohibits any employee of the Minerals Management Service of the Department of the Interior from: (1) knowingly accepting a gift from an entity engaged in the business of mineral mining or from being employed by such an entity while employed in the Service; and (2) accepting employment from an entity engaged in the business of mineral mining during the one-year period after termination of employment with the Service. Makes violations of such prohibitions a felony. Requires financial disclosure by employees of the Service in positions equivalent to GS-13 or higher. Suspends the authority of the Secretary of the Interior to carry out royalty-in-kind programs (payment of royalties from oil and gas leases in the form of production rather than cash) until the Secretary certifies that a comprehensive review of such programs has been conducted, implements an ethics training program for employees of the Minerals Management Service, and creates an ombudsman position to monitor the progress of the Service in carrying out reforms. Requires the Secretary to perform at least 550 audits in each fiscal year of oil and gas leases for which payment is made under a royalty-in-kind program. Amends the Energy Policy Act of 2005 to repeal the authority of the Secretary to pay salaries and other administrative costs related to a royalty-in kind program from royalty-in-kind sales revenues.
Bill· HRH.R. 7202 (110th)referred
United States · United States Congress · 28 September 2008
Temporary Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend through 2009: (1) the tax deductions for state and local sales taxes, qualified tuition and related expenses, and certain expenses of elementary and secondary school teachers; (2) the exemption from withholding of tax of interest-related and short-term capital gain dividends received from a regulated investment company (RIC) and the special rule for RIC stock held in the estate of nonresidents; (3) tax-free distributions from individual retirement plans for charitable purposes; (4) the inclusion of an RIC within the definition of "qualified investment entity" for income tax purposes; and (5) the additional standard tax deduction for real property taxes. Extends through 2009 certain business-related tax provisions, including: (1) the tax credits for increasing research activities, Indian employment, railroad track maintenance, and the new markets tax credit; (2) accelerated depreciation for qualified leasehold and restaurant improvements, for motorsports racing track facilities, and for business property on Indian reservations; (3) expensing of environmental remediation and film and television production costs; (4) the tax deduction for income attributable to domestic production activities in Puerto Rico; (5) special rules for related controlled foreign corporations and for the tax treatment of certain payments to tax-exempt organizations by a controlled subsidiary; (6) issuance authority for qualified zone academy bonds; (7) tax incentives for investment in the District of Columbia; (8) the economic development credit for American Samoa; (9) the expanded tax deductions for charitable contributions of food and book inventories by noncorporate taxpayers; (10) the tax deduction for contributions of computer technology and equipment for educational purposes; (11) the special rule for reductions in the basis of S corporation stock for charitable contributions; (12) work opportunity tax credit eligibility for Hurricane Katrina employees (through August 28, 2009); (13) the subpart F income exemption for active financing income; and (14) the increase in alcohol excise taxes payable to Puerto Rico and the Virgin Islands. Makes permanent the authority of the Internal Revenue Service (IRS) to: (1) disclose tax return information related to terrorist activities; and (2) conduct undercover operations. Lowers in 2008 (from $10,000 to $8,500) the earned income threshold amount for determining the refundable portion of the child tax credit. Modifies certain provisions relating to the tax deduction for domestic film and television productions. Exempts from the excise tax on bows and arrows certain arrow shafts. Modifies the standards for imposing penalties on tax return preparers for understatements of tax. Modifies provisions of the Secure Rural Schools and Community Self-Determination Act of 2000 and authorizes appropriations for such Act. Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 - Amends the Employee Retirement Income Security Act of 1974 (ERISA), the Public Health Service Act, and the Internal Revenue Code to require a group health plan that provides both medical and surgical benefits and mental health or substance use disorder benefits to ensure parity in the provision of such benefits. Extends through 2009 the 0.2% Federal Unemployment Tax Act (FUTA) surtax. Increases and extends through 2017 the Oil Spill Liability Trust Fund financing rate. Requires the inclusion in gross income for income tax purposes of employee compensation deferred under a nonqualified deferred compensation plan of certain foreign entities when there is no substantial risk of forfeiture of the rights to such compensation. Delays until 2018 the application of special rules for the worldwide allocation of interest for purposes of computing the limitation on the foreign tax credit. Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase the estimated tax payment due in the third quarter of 2012 for corporations with assets of at least $1 billion.
Bill· HRH.R. 7201 (110th)reported
United States · United States Congress · 28 September 2008
Energy Improvement and Extension Act of 2008 - Amends the Internal Revenue Code to provide incentives for energy production and conservation, extend expiring energy-related tax provisions, and provide for revenue enhancements. Extends the tax credit: (1) for producing electricity from wind facilities through 2009; and (2) for closed and open-loop biomass, geothermal, small irrigation power, landfill gas, trash combustion, and hydropower facilities through FY2011. Imposes a limit on such tax credit based upon investment in renewable resource facilities placed in service after 2009 in lieu of the current phaseout provisions for such credit. Expands the definitions of and rules for "open and closed-loop biomass facility," "qualified trash combustion facility," and "nonhydroelectric dam" for purposes of such credit. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of the tax credit for producing electricity from renewable resources. Extends through 2016 the energy tax credit for solar energy, fuel cell, and microturbine property. Allows a new energy tax credit for combined heat and power system property. Increases to $1,500 the credit limitation for fuel cell property. Modifies energy tax credit rules to allow: (1) offsets of tax credit amounts against alternative minimum tax (AMT) liabilities; and (2) public utility property to qualify for such credit. Increases and extends through 2016 the tax credit for residential energy efficient property. Eliminates the limitation on the tax credit for solar electric property. Allows a new tax credit for 30% of expenditures for wind turbines used to generate electricity in a residence and for geothermal heat pumps. Extends deferral provisions for the gain on sales of transmission property by vertically-integrated electric utilities to independent transmission companies approved by the Federal Energy Regulatory Commission (FERC). Allows a 30% investment tax credit rate for advanced coal-based generation technology projects and increases the maximum credit amounts allocable for such projects to $2.55 billion. Increases to 30% the investment tax credit rate for coal gasification projects. Extends the excise tax on coal through December 31, 2018. Sets forth special rules for refund claims of coal excise tax by certain coal producers and exporters. Requires the Secretary of the Treasury to undertake a comprehensive review of Internal Revenue Code provisions that have the largest effects on carbon and other greenhouse gas emissions and provide an estimate of the magnitude of such effects. Includes cellulosic biofuel within the definition of "biomass ethanol plant property" for purposes of bonus depreciation. Extends through 2009 income and excise tax credits for biodiesel and renewable diesel used as fuel. Increases the rates of such credits. Disqualifies foreign-produced fuel that is used or sold for use outside the United States for the income and excise tax credits for alcohol, biodiesel, and alternative fuel production. Allows a new tax credit for the production of qualified plug-in electric drive motor vehicles. Allows an exclusion from the heavy truck excise tax for idling reduction devices and advanced insulation used in certain heavy trucks and trailers. Allows employees to exclude reimbursements for bicycle commuting expenses from gross income. Increases and extends the tax credit for residential and commercial alternative fuel refueling property expenditures. Treats certain income and gains relating to alcohol, biodiesel, and alternative fuels and mixtures as qualifying income for publicly traded partnerships. Extends the tax credit for nonbusiness energy property expenditures through 2008. Includes energy-efficient biomass fuel stoves as property eligible for such tax credit. Extends through 2013 the tax deduction for energy efficient commercial building expenditures. Modifies tax credit amounts for energy efficient household appliances produced after 2007. Allows an accelerated 10-year recovery period for the depreciation of qualified smart electric meters and smart electric grid systems. Extends through FY2012 the authority to issue tax-exempt green building and sustainable design projects bonds. Provides for revenue enhancements by: (1) limiting the tax deduction for income attributable to domestic production activities for taxpayers with gross receipts derived from oil, gas, or any primary products thereof; (2) conforming the tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) requiring investment brokers to report information relating to customer basis in securities transactions; (4) increasing and extending the Oil Spill Liability Trust Fund financing rate; and (5) increasing estimated tax payments for certain large corporations.
Resolution· HRESH.Res. 1516 (110th)open
United States · United States Congress · 28 September 2008
Sets forth the rule for consideration of the bill (H.R. 7201) to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, and for other purposes and providing for consideration of the bill (H.R. 7202) to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, to provide individual income tax relief.
Resolution· HRESH.Res. 1517 (110th)passed
United States · United States Congress · 28 September 2008
Sets forth the rule for consideration of the Senate amendment to the bill (H.R. 3997) to amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers.
Bill· HRH.R. 7188 (110th)referred
United States · United States Congress · 27 September 2008
Tax Refund Anticipation Loan Consumer Protection Act - Amends the Truth in Lending Act to prescribe advertising and disclosure requirements for tax refund anticipation loans. Prohibits an advertisement for an income tax refund anticipation loan from: (1) describing such a loan as a tax refund or rebate; or (2) advertising or soliciting tax preparation services as including the possibility of obtaining an immediate or rapid income tax refund or rebate if the refund or rebate involves an income tax refund anticipation loan origination. Requires an advertisement for an income tax refund anticipation loan to disclose: (1) fees imposed by the originator in connection with the loan origination; (2) the applicable annual percentage rate (APR) and fees; and (3) the name of the creditor if other than the originator. Sets forth contract and disclosure requirements for income tax refund anticipation loan origination services. Instructs the Board of Governors of the Federal Reserve System to publish model disclosure forms to implement this Act.
Bill· HRH.R. 7194 (110th)referred
United States · United States Congress · 27 September 2008
Climate Change Rebate Act of 2008 - Requires that 35% of the total value of greenhouse gas emission allowances created by federal legislation limiting such emissions be auctioned each year to finance the purposes of this Act. Amends the Internal Revenue Code to allow certain low-income taxpayers a refundable tax credit for energy cost increases attributable to carbon regulation (climate change tax credit). Requires the Administrator of the Environmental Protection Agency (EPA) to: (1) formulate and administer a Climate Change Rebate Program to provide monthly rebates based on energy cost increases to low-income families and families receiving federal assistance; (2) establish a schedule and standards to implement such Program. Requires receipts from the auction of greenhouse gas emission allowances to be used equally for the Low-Income Home Energy Assistance Program and the Weatherization Assistance Program under the Energy Conservation and Production Act.
Bill· HRH.R. 7189 (110th)referred
United States · United States Congress · 27 September 2008
Public-Private Partnerships Community Stabilization Act of 2008 - Directs the Secretary of the Treasury, in carrying out any Act that provides authority to purchase troubled assets from financial institutions, to provide systematically for purchases from the Secretary, by public-private partnerships established at the community, local, and regional levels, of vacant residential properties the Secretary owns, holds, or controls by reason of purchases of troubled assets. Requires any federal property manager to provide for purchases by such partnerships of properties owned, held, or controlled by the manager, for the purpose of retaining the value of such properties, stabilizing communities, and minimizing the fiscal impacts of such Act on taxpayers.
Resolution· HRESH.Res. 1515 (110th)referred
United States · United States Congress · 27 September 2008
Amends Rule XXI (Restrictions on Certain Bills) of the Rules of the House of Representatives to require that: (1) a list of congressional earmarks or limited tax or tariff benefits (and the name of the requesting Member), required for legislation reported by a committee, be certified by the chairman of the relevant committee as the official action of the referring committee on such legislation; and (2) such list or required statement that the proposition contains no such items be printed in the Congressional Record and made publicly accessible on a list via the Internet on the website of the Clerk of the House in a searchable format at least 48 hours before its consideration by the full House. Requires, if legislation is not reported by a committee, the chairman of the conference committee (currently, each committee of initial referral) that reports such measure to the House, to cause such list (and the name of the requesting Member, along with such certification) or disclaimer to be made accessible on the Clerk's website in the same manner. Requires lists of congressional earmarks required by Rule XXI to include for each earmark: (1) the name of its requesting Member; (2) the total amount of new budget authority provided for it; (3) the name of the recipient of such earmark funds; and (4) a brief, accurate description of the purpose or program for which those funds shall be expended. Declares that it is the sense of the House that there is no legislative intent for any federal agency to obligate funds for any congressionally earmarked funds unless they are in full compliance with these rules and included on the required list. Allows a point of order for any inaccuracy in a list of earmarks or limited tax or tariff benefits. Makes it out of order to consider any bill, joint resolution, amendment, or conference report if any earmark contained in it: (1) does not appear on the required list on the Internet; (2) is sought by any individual, including any entity employing or retaining such individual, who was employed by the requesting Member within the prior 18 months; (3) will financially benefit the requesting Member, a staff member, or any family member of either; or (4) will benefit any entity established by or at the request or with the assistance of the requesting Member. Makes it out of order to consider a conference report to accompany a general appropriation bill unless the joint explanatory statement includes a list of all congressional earmarks in the conference report or joint statement (and the name of the requesting Member or Senator) that were: (1) not committed to the conference committee by either chamber; (2) not in a report on such bill; and (3) not in a Senate report on a companion measure. Requires the Clerk to establish a website, accessible to and searchable by the public, upon which shall appear a list of every congressional earmark or limited tax or tariff benefit: (1) requested by any Member or Senator; and (2) included in any reported bill or joint resolution or its accompanying report, conference report, or joint explanatory statement. Requires the chairman of any committee reporting a bill or joint resolution and the Member who submits a conference report to submit immediately to the Clerk a list of its congressional earmarks or limited tax or tariff benefits (as well as the name of the requesting Member or Senator). Amends Rule XIII (Calendars and Committee Reports) to prohibit the Committee on Rules from reporting a rule or order that waives the application of: (1) Rule XXI allowing a point of order against consideration of a bill, joint resolution, amendment, or conference report that provides for the designation or redesignation of a public work in honor of a current Member or Senator; or (2) this resolution. Amends Rule XXIII (Code of Official Conduct) to require any Member requesting a congressional earmark or limited tax or tariff benefit, who is also a candidate for election for any public office, to include in the required statement to the chairman and ranking minority member of the committee of jurisdiction the name and address of any person who asked the Member to request the earmark and made a contribution to the Member's election campaign during the 18-month period leading up to the date of such request.
Bill· SS. 3626 (110th)referred
United States · United States Congress · 26 September 2008
Family and Retirement Health Investment Act of 2008 - Amends Internal Revenue Code provisions relating to health savings accounts (HSAs) to: (1) permit holders of HSAs and their spouses who are age 55 or older to make an additional (catch-up) contribution to a joint HSA; (2) allow Medicare beneficiaries to continue to contribute to HSA accounts after reaching age 65 and to make contributions to medical savings accounts; (3) permit veterans with service-connected disabilities and Native Americans to contribute to an HSA regardless of utilization of Department of Veteran Affairs (VA) medical services or Indian Health Service or tribal medical services; (4) allow increased rollovers from flexible spending arrangements or health reimbursement arrangements into HSAs; (5) permit the payment of Medicare premiums for a spouse on Medicare from an HSA even though the HSA account holder is not age 65; (6) allow the payment of medical expenses from an HSA as long as the HSA is established by the tax return due date in the following taxable year; (7) expand the definition of "preventive care" to include medications that prevent the worsening of a chronic condition; and (8) treat as medical care for tax deduction and HSA purposes payments for exercise and physical fitness programs and certain nutritional and dietary supplements, up to $1,000 per year, and the payment of fees paid in advance to a primary physician for the right to receive medical services on an as-needed basis.
Bill· SS. 3615 (110th)referred
United States · United States Congress · 26 September 2008
Church Plan Clarification Act of 2008 - Amends Internal Revenue Code pension plan provisions to: (1) apply a special rule for determining the status of an employer participating in a church plan as a member of a controlled group of entities; and (2) allow certain tax-free transfers to and mergers of church plans that are maintained by the same church or association of churches. Amends the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) to apply limitations on benefits and contributions under qualified employee plans to certain church defined benefit plans. Allows church plans and their supporting organizations to invest plan assets in a group trust (as defined by Internal Revenue Service Revenue Rulings).
Bill· HRH.R. 7123 (110th)open
United States · United States Congress · 26 September 2008
Middle Class Investor Relief Act - Amends the Internal Revenue Code to increase to $20,000 the limitation on the amount of losses from the sale or exchange of capital assets that an individual taxpayer may deduct in a taxable year.
Bill· HRH.R. 7166 (110th)referred
United States · United States Congress · 26 September 2008
American Health Care Access Improvement, Portability, and Cost Reduction Act of 2008 - Amends the Internal Revenue Code (IRC) to allow qualified primary care physicians or qualified nurse practitioners a tax credit of $1,000 for each month such providers provide services in a health professional shortage area. Amends title XVIII (Medicare) of the Social Security Act to make changes to the conversion factor for FY2010 for physicians Medicare payments. Allows a refundable tax credit for qualified health insurance coverage. Provides for advance payment of such credit. Revises IRC provisions relating to health savings accounts (HSAs) to: (1) allow HSAs to incorporate flexible spending and health reimbursement arrangements; (2) increase the annual HSA contribution limitation; (3) permit the use of HSAs to purchase health insurance; (4) allow the payment of certain medical expenses incurred before the establishment of an HSA; (5) allow veterans eligible for service-connected disability benefits to establish an HSA; and (6) allow spouses to make increased catch-up contributions to a single HSA. Requires the inclusion of education information about advance directives in the annual notice of Medicare benefits sent to eligible individuals. Revises provisions concerning Medicare+Choice private fee-for-service plans related to access standards under the plans and utilization.
Bill· HRH.R. 7117 (110th)referred
United States · United States Congress · 26 September 2008
National Freight Mobility Infrastructure Act - Directs the Secretary of Transportation to establish a program to award grants, on a competitive basis, to states and designated entities for projects to improve the efficiency of freight mobility in the United States. Establishes the National Freight Mobility Infrastructure Fund to carry out projects under this Act. Amends the Internal Revenue Code to impose a tax on taxable ground transportation of property equal to 1% of the fair market value of such transportation. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to direct the Secretary of the Treasury to charge and collect a freight mobility customs fee. Requires deposit into the Fund of amounts equivalent to: (1) the tax imposed on taxable ground transportation of property; and (2) freight mobility customs fees.
Bill· HRH.R. 7134 (110th)referred
United States · United States Congress · 26 September 2008
Amends the Internal Revenue Code to allow an individual taxpayer an exclusion from gross income of the gain from the sale or exchange of up to two residences (other than a principal residence) acquired after December 31, 2007, and before January 1, 2013. Limits the amount of such exclusion to $250,000 ($500,000 for married taxpayers filing a joint return). Allows a $500,000 exclusion amount for a surviving spouse who sells a residence within two years of the death of a spouse.
Bill· HRH.R. 7155 (110th)referred
United States · United States Congress · 26 September 2008
Guard and Reserve Financial Stability Act of 2008 - Amends the Internal Revenue Code to allow small employers (employers with 50 or fewer employees) a business tax credit for 50 percent of the lesser of: (1) actual compensation paid to each Ready Reserve-National Guard employee while on active duty or hospitalized incident to such duty; or (2) $30,000. Terminates such credit after 2009. Allows employers a work opportunity tax credit for the hiring of temporary employees to replace Ready Reserve-National Guard employees for the period such employees are on active duty.
Bill· HRH.R. 7145 (110th)referred
United States · United States Congress · 26 September 2008
People for the Planet Act of 2008 - Amends the Internal Revenue Code to establish in the Treasury the Environmental Protection Trust Fund to promote ecosystem restoration, reforestation, reclamation of timber roads in national forests, watershed protection, preservation of Great Lakes and other bodies of water, and funding of biodiversity partnerships. Allows individual taxpayers (other than nonresident aliens) to designate on their income tax returns a payment of $3 of their income tax liability to such Trust Fund. Makes permanent the tax deduction for individual and corporate contributions of conservation easements. Allows a tax deduction for reforestation expenditures. Expresses the sense of Congress that the government should encourage biodiversity partnerships.
Bill· HRH.R. 7125 (110th)referred
United States · United States Congress · 26 September 2008
Let Wall Street Pay for Wall Street's Illiquid Assets Act of 2008 - Amends the Internal Revenue Code to impose an excise tax on securities or commodity transactions equal to 0.25% of the value of the instruments involved in such transactions. Makes such tax payable by the trading facility on which such transactions occur.
Bill· HRH.R. 7170 (110th)referred
United States · United States Congress · 26 September 2008
Transportation Flexible Savings Accounts Act of 2008 - Amends the Internal Revenue Code to allow certain employer-provided transportation benefits (i.e., commuting and parking costs, transit passes) under tax-qualified flexible spending arrangements.
Resolution· HRESH.Res. 1507 (110th)passed
United States · United States Congress · 26 September 2008
Sets forth the rule for consideration of the bill (H.R. 7110) making supplemental appropriations for job creation and preservation, infrastructure investment, and economic and energy assistance for the fiscal year ending September 30, 2009.
Law· SS. 3597 (110th)enacted
United States · United States Congress · 25 September 2008
Amends the Food, Conservation, and Energy Act of 2008 to replace "Food and Nutrition Act of 2008" with "Food Stamp Act of 1977" in a provision reauthorizing grant funds to assist eligible private nonprofit entities to establish and carry out community food projects. Makes such grant funds for FY2008 available until September 30, 2009, to fund proposals solicited in FY2008.
Bill· SS. 3593 (110th)referred
United States · United States Congress · 25 September 2008
Frank Melville Supportive Housing Investment Act of 2008 - Amends the Cranston-Gonzalez National Affordable Housing Act (the Act) to revise requirements for supportive housing for persons with disabilities. (Retains authority to provide such assistance to private nonprofit organizations to expand the supply of such housing.) Repeals the authority of the Secretary of Housing and Urban Development to provide tenant-based rental assistance directly to eligible persons with disabilities. Authorizes appropriations for such assistance under section 8 (rental voucher program) of the United States Housing Act of 1937 for persons with disabilities in FY2009. Modifies project rental assistance contract requirements, including renewal of, and increases in, annual contract amounts. Requires initial contracts with the sponsor of a project assisted with any low-income housing tax credit or with any tax-exempt housing bonds to have an initial term of up to 360 months and to provide funding for 60 months. Revises the requirement that all units in housing assisted by capital advances and project rental assistance contracts be made available for occupancy by very low-income persons with disabilities for at least 40 years. Requires the Secretary, within 30 days of issuing certain capital advances for multifamily projects (except group homes or independent living facilities), to delegate review and processing of such projects to a state or local housing agency meeting specified criteria. Revises tenant selection procedures. Requires a lease between a tenant and a housing owner to be for at least one year. Revises the application of cost limitations developed by the Secretary to supportive housing. Authorizes the Secretary to waive such limitations. Requires the Secretary to: (1) establish a minimum percentage of capital advances per fiscal year for multifamily projects; and (2) carry out a project rental assistance competitive demonstration program to expand the supply of supportive housing for non-elderly adults with disabilities and with extremely low-incomes or for extremely low-income households that include at least one disabled person. Requires the Comptroller General to study and report to Congress on the program's adequacy and effectiveness in assisting households of persons with disabilities.
Bill· SS. 3574 (110th)referred
United States · United States Congress · 25 September 2008
Honorable Stephanie Tubbs Jones College Fire Prevention Act - Directs the Secretary of Education to make competitive demonstration grants to institutions of higher education (IHEs), fraternities, and sororities for up to half the cost of installing fire sprinkler systems, or other fire suppression or prevention technologies, in student housing and dormitories owned or controlled by such entities. Gives grant priority to applicants that demonstrate the greatest financial need. Reserves the following portions of grant funds made available for each fiscal year: (1) at least 10% for historically Black colleges and universities, Hispanic-serving institutions, tribally controlled colleges and universities, Alaska Native and Native Hawaiian-serving institutions, and IHEs that are eligible for Institutional Aid under the Higher Education Act of 1965; and (2) at least 10% for social fraternities and sororities. Provides that any application for assistance under this Act, any negative determination on the part of the Secretary with respect to such application, or any statement of reasons for the determination, shall not be admissible as evidence in any proceeding of any court, agency, board, or other entity (except a proceeding to enforce an agreement entered into between the Secretary and a grantee under this Act).
Bill· SS. 3600 (110th)referred
United States · United States Congress · 25 September 2008
Patent Reform Act of 2008 - Amends federal patent law to define terms, including "inventor," "joint inventor," and "effective filing date of a claimed invention." Modifies the conditions under which a patent may be obtained, including basing patent granting in part on filing dates (often referred to as a "first-to-file" system). Repeals provisions relating to inventions made abroad and provisions allowing statutory invention registration. Requires that a subsequent patent application which names an inventor or joint inventor in a previous application apply as though filed on the date of the previous application. Repeals provisions providing for interfering patent civil actions. Allows an applicant to request a derivation proceeding. Allows a third party assignee or a person with a proprietary interest to file a patent application. Allows tripling of royalty damages. Sets forth criteria for calculating reasonable royalties. Replaces provisions relating to optional inter partes reexamination procedures with post-grant review procedure provisions. Replaces the Board of Patent Appeals and Interferences with the Patent Trial and Appeal Board and specifies its responsibilities. Revises civil action venue requirements. Allows the United States Patent and Trademark Office (USPTO) to set its fees. Prohibits, subject to exception, holding a patent invalid or unenforceable based on misconduct before the USPTO, but allows a court to order a reissue application. Allows a civil penalty for intentional, materially deceptive conduct. Shields a financial institution that infringes by using a check collection system from the infringement remedies of civil actions, injunctions, damages, and attorney's fees. Applies the amendment made by this paragraph to any civil action for infringement pending or filed on or after enactment of this Act. Establishes the United States Patent and Trademark Office Public Enterprise Fund, transfers to it the amounts in the Patent and Trademark Office Appropriation Account, and makes Fund amounts available without fiscal year limitation for all ordinary and reasonable expenses.
Bill· HRH.R. 7096 (110th)referred
United States · United States Congress · 25 September 2008
Tax Incentives for Growth, Expansion and Revitalization Act of 2008 - Amends the Internal Revenue Code to allow employers in a high-job loss area a tax deduction for 50% of the income attributable to trade or business activities conducted in such area. Designates an area as a high-job loss area based upon standards relating to employment, annual payroll, and business establishments. Makes such tax deduction applicable to taxable years beginning after December 31, 2008, and before January 1, 2014.
Bill· HRH.R. 7098 (110th)referred
United States · United States Congress · 25 September 2008
Amends the Internal Revenue Code to exclude from gross income discharges of student loan indebtedness based on repayments which are income contingent or income based.
Bill· HRH.R. 7066 (110th)referred
United States · United States Congress · 25 September 2008
Amends the Internal Revenue Code to allow the work opportunity tax credit for the employment of a disconnected youth. Defines "disconnected youth" as an individual: (1) between the ages of 16 and 25 on the hiring date; (2) not regularly employed or attending a school during the six-month period before the hiring date; and (3) not readily employable due to a lack of basic skills.
Law· HRH.R. 7082 (110th)enacted
United States · United States Congress · 25 September 2008
Inmate Tax Fraud Prevention Act of 2008 - Amends the Internal Revenue Code to authorize the Secretary of the Treasury to disclose to the head of the Federal Bureau of Prisons, subject to certain restrictions, tax return information of prisoners whom the Secretary has determined may have filed or facilitated the filing of a false tax return.