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1,001 records in US in 2007
United States · United States Congress · 20 March 2007
Amends the Vision 100-Century of Aviation Reauthorization Act to extend the effective period of final orders of the Secretary of Transportation regarding the eligibility of small communities for essential air service subsidies through September 30, 2012.
United States · United States Congress · 20 March 2007
Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.
United States · United States Congress · 20 March 2007
Hurricane and Tornado Mitigation Investment Act of 2007 - Amends the Internal Revenue Code to allow individual and business taxpayers a tax credit for 25% of their qualified hurricane and tornado mitigation property expenditures up to $5,000 for any taxable year. Defines such expenditures as expenditures in a dwelling unit to improve the strength of a roof deck attachment, create a secondary water barrier, improve the durability of a roof covering, brace gable-end walls, reinforce the connections between a roof and supporting wall, protect against windborne debris, or protect exterior doors and garages.
United States · United States Congress · 20 March 2007
College Aid Made EZ Act - Amends the Higher Education Act of 1965 (HEA) to require the Secretary of Education (Secretary) to make the Free Application for Federal Student Aid (FAFSA): (1) consumer-friendly, with 50% fewer data elements within five years of this Act's enactment; (2) available in both paper and (downloadable) electronic formats; (3) flexible enough to permit applicants to enter data years before enrolling and selectively update information; and (4) include data elements relevant to state student aid determinations. Directs the Secretary to develop a simplified paper EZ FAFSA for applicants having no expected family contributions and simplified electronic FAFSAs for applicants to whom a simplified needs test applies. Directs the Secretary to conduct a demonstration program assessing the feasibility and benefits of allowing dependent students to apply for aid in their junior year of high school. Reduces the types of income and benefits which are considered untaxed and thereby included in student need analyses. Excludes untaxed distributions from qualified education benefits as income or assets in computing expected family contributions in student aid calculations. Treats a qualified education benefit as: (1) the parent's asset when considering the family contribution for a dependent student; and (2) the student's asset when considering such contribution for independent students. Excludes from need analyses any untaxed distributions from state prepaid tuition plans or Coverdell education savings accounts. Urges the Secretary and the Secretary of the Treasury to develop a process allowing the Department of Education, with the applicant's permission, to complete the FAFSA by drawing income information directly from the Internal Revenue Service (IRS). Allows the Secretary to use the previous tax year's income information to facilitate this end.
United States · United States Congress · 20 March 2007
Directs the Secretary of Transportation to establish a flexibility incentive grant pilot program to encourage states to establish new sources of revenue for public transportation projects and services and to reward states for creating more flexibility in the use of their existing transportation funds. Requires the Secretary to make a grant for FY2008-FY2011 to: (1) each state whose increase in expenditures for public transportation projects and services over the preceding fiscal year was 10% or more and aggregate expenditures for such projects and services was $1 billion or less; (2) each large state whose increase in expenditures for such projects and services over the preceding fiscal year was 1% or more and aggregate expenditures for such projects and services was more than $1 billion; (3) each state that established in the first preceding fiscal year a dedicated source of revenue (i.e., state motor fuels tax, sales tax, or other specified sources of revenue) for carrying out public transportation projects and services that was not in effect in the second preceding fiscal year and which will result in a 10% increase of state funds expended for such projects and services within two years after such implementation; and (4) each state that in the preceding fiscal year amended state law or the state constitution to allow restricted highway funds to also be used for public transportation projects and services. Sets forth certain grant eligibility requirements. Directs the Secretary to conduct, and report to Congress on, a study to evaluate the pilot program.
United States · United States Congress · 20 March 2007
Clean and Green Renewable Energy Tax Credit Act of 2007 - Amends the Internal Revenue Code to: (1) extend through 2030 the tax credits for investment in solar energy and qualified fuel cell property; (2) modify the percentage rate for the energy tax credit; (3) extend through 2016 the tax credit for residential energy efficient property expenditures; (4) allow accelerated depreciation of solar energy and fuel cell property; (5) extend through 2013 the tax credit for electricity produced from certain renewable resources; (6) allow an energy tax credit and a residential energy efficient property tax credit for certain equipment which uses wind to generate energy; and (7) extend through 2009 the tax credit for nonbusiness energy property expenditures.
United States · United States Congress · 20 March 2007
Death Tax Repeal Act of 2007 - Repeals the federal estate, gift, and generation-skipping transfer taxes.
United States · United States Congress · 20 March 2007
National Defense Authorization Act for Fiscal Year 2008 - Authorizes appropriations for the Department of Defense (DOD) for FY2008. Authorizes appropriations to DOD for: (1) procurement, including for aircraft, missiles, weapons and tracked combat vehicles, ammunition, and shipbuilding and conversion; (2) research, development, test, and evaluation, including ballistic missile defense; (3) operation and maintenance, including for defense working capital funds, the Defense Health Program, drug interdiction and counter-drug activities, and environmental restoration; (4) active and reserve military personnel, including end strengths and the Armed Forces Retirement Home; (5) increased costs for military activities and military construction due to the global war on terror (6) the North Atlantic Treaty Organization Security Investment Program; (7) chemical demilitarization construction; and (8) Guard and reserve forces facilities. Sets forth provisions or requirements concerning: (1) active and reserve military personnel policy; (2) military education and training; (3) military justice; (4) military pay and allowances; (5) retired pay and survivor benefits; (6) military health care; (7) acquisition policy and management; (8) DOD organization and management, including intelligence-related matters; (9) counter-drug activities and matters related to homeland security; (10) civilian personnel matters; (11) matters relating to other nations; and (12) cooperative threat reduction with states of the former Soviet Union. Military Construction Authorization Act for Fiscal Year 2008 - Authorizes appropriations for FY2008 for military construction for the Armed Forces and defense agencies.
United States · United States Congress · 20 March 2007
U.S. Troop Readiness, Veterans' Health, and Iraq Accountability Act, 2007 - Makes emergency supplemental FY2007 appropriations for specified activities related to the global war on terror to the Departments of Agriculture (including food aid to Africa and Afghanistan), of Justice, of Defense (Military, including funds for Iraqi and Afghan security forces), of Defense (military construction and base closure), of Energy, of Homeland Security, of Veterans Affairs (particularly veterans' health programs), and of State (including international peacekeeping operations), and related agencies as well as the House of Representatives. Provides funds to enable military commanders in Iraq and Afghanistan to respond to urgent humanitarian relief and reconstruction requirements. Specifies conditions for assistance to Lebanon. Prohibits the use of funds under this Act to deploy any unit of the Armed Forces to Iraq unless the chief of the military department concerned has certified to the congressional appropriations committees in advance that the unit is fully mission capable. Sets a maximum number of days for deployment in Iraq for military units. Authorizes the President to waive such prohibition and deployment limits on a unit-by-unit basis for reasons of national security. Directs the President to transmit to Congress by specified dates certain determinations and certifications with respect to conditions to be met by the Government of Iraq. Requires redeployment of the armed forces from Iraq if any of such conditions is not met. Directs the President to appoint a Coordinator for Iraq Assistance, by and with the advice and consent of the Senate. Declares that Congress will fully support the needs of members of the Armed Forces who the Commander in Chief has deployed in harm's way in support of Operation Iraqi Freedom and Operation Enduring Freedom, and their families. Declares the sense of Congress that the U.S. Constitution grants: (1) the President the sole role of Commander in Chief; and (2) Congress the sole power to declare war. Declares the sense of Congress that: (1) the commanders of the U.S. armed forces in Iraq should be allowed to conduct the war and manage the movements of the troops; and (2) Congress should remain focused on executing its oversight role. Makes additional appropriations for disaster relief and recovery related to Hurricanes Katrina and Rita to the Departments of Agriculture, of Commerce, of Defense (Civil), of Homeland Security, of Health and Human Services, of Education, and of Housing and Urban Development. Makes appropriations to the Secretary of Agriculture for emergency crop and livestock disaster assistance. Makes additional appropriations for specified purposes to the Legislative Branch and to the Departments of Agriculture, of Commerce, of State, of the Interior and of Agriculture (for wildfire suppression), and of Health and Human Services (for the Low-Income Home Energy Assistance Program (LIHEAP) and for response to an influenza pandemic). Rescinds specified unobligated balances of the Department of Homeland Security (DHS). Prescribes requirements for DHS contracts, subcontracts, and task orders. Requires each federal agency that has awarded at least $1 billion in the preceding fiscal year to develop and implement a plan to minimize the use of no-bid and cost-reimbursement type contracts. Makes appropriations to the Department of Health and Human Services, Centers for Medicare and Medicaid Services, to eliminate the FY2007 shortfall in funding for the State Children's Health Insurance Program (SCHIP). Fair Minimum Wage Act of 2007 - Amends the Fair Labor Standards Act of 1938 to increase the federal minimum wage to: (1) $5.85 an hour, beginning on the 60th day after enactment of this Act; (2) $6.55 an hour, beginning 12 months after that 60th day; and (3) $7.25 an hour, beginning 24 months after that 60th day. Applies federal minimum wage requirements to the Commonwealth of the Northern Mariana Islands and to American Samoa. Small Business Tax Relief Act of 2007 - Amends the Internal Revenue Code to extend and revise: (1) the work opportunity tax credit; (2) expensing for small businesses; and (3) the credit for certain taxes paid with respect to employee cash tips. Waives alternative minimum tax limits on the work opportunity credit and the credit for taxes paid with respect to employee cash tips. Defines qualified joint venture with respect to family business taxes. Makes certain dependents ineligible for the lowest capital gains rate. Lengthens the period of failure to notify a taxpayer of liability before interest and certain penalties must be suspended. Increases the amount of any required installment of estimated tax otherwise due in 2012 from a corporation with assets of at least $1 billion.
United States · United States Congress · 20 March 2007
Emergency Coverage During an Incident of National Significance Act of 2007 - Directs the Office of Personnel Management (OPM) to administer a health insurance program for certain individuals affected by an incident of national significance. Requires OPM to contract with three or more carriers to make available five or more federal health benefits plans (subject to the provisions of this Act) to eligible individuals. Allows an income-related tax credit for amounts paid by eligible individuals for coverage under the health insurance plan established by this Act. Directs the Secretary of the Treasury to establish a program for making payments on behalf of certain individuals to such plan. Requires the Secretary of Homeland Security, other federal officers, and the Director of OPM to submit a plan that: (1) provides for the orderly implementation of the amendments made by this Act; and (2) includes a schedule of actions to be taken to provide for that implementation.
United States · United States Congress · 20 March 2007
Clean Money, Clean Elections Act of 2007 - Amends the Federal Election Campaign Act of 1971 (FECA) with respect to: (1) eligibility and qualifying contribution requirements, seed money limits, and benefits of clean election financing of House election campaigns; (2) establishment of a House Clean Elections Fund; (3) eligibility for Fund allocations as well as such allocations; (4) a seed money contribution requirement; (5) contribution and expenditure requirements; (6) certification of whether or not a federal election candidate is a clean money candidate; (7) benefits for participating candidates; (8) payment of fair fight funds; (9) administration of the House Clean Elections System; (10) reporting requirements for nonparticipating candidates; (11) modification of electioneering communication reporting requirements; (12) limitation on coordinated expenditures by political party committees with participating candidates; and (13) treatment of coordinated expenditures as contributions. Amends the Internal Revenue Code to provide a tax credit for voluntary donations to the House Clean Elections Fund. Establishes the Clean Elections Review Commission. Amends the Communications Act of 1934 to entitle clean money candidates to receive specified free broadcast time and reduced broadcast rates in certain circumstances. Amends federal postal law to prohibit franked mass mailings by Members of Congress (except public meeting notices) during the 90 days before primary and general election periods, unless they are not candidates for re-election to any other federal office. Amends FECA to: (1) empower the Federal Election Commission (FEC) to petition the U.S. Supreme Court for a proceeding on certiorari; and (2) reduce from 48 to 24 hours the deadline for electronic filing with the FEC of reports by each political committee of contributions received within 90 days before an election.
United States · United States Congress · 20 March 2007
Amends the Internal Revenue Code to: (1) increase the allowable amount of the railroad track maintenance tax credit; (2) extend such credit through 2010; and (3) allow such credit against alternative minimum tax liabilities.
United States · United States Congress · 20 March 2007
Amends the Internal Revenue Code to reduce from $18 to $9 (its pre-1991 level) the per-barrel tax on beer.
United States · United States Senate · 19 March 2007
United States · United States Senate · 19 March 2007
United States · United States Congress · 19 March 2007
Economic Development Act of 2007 - Authorizes any state to provide to any person for economic development purposes tax incentives that otherwise would be the cause or source of discrimination against interstate commerce under the Commerce Clause of the Constitution. Disqualifies any incentive that: (1) is dependent upon the state or country of incorporation, commercial domicile, or residence of an individual; (2) requires the recipient to acquire, lease, license, use, or provide services to property created in the state; (3) is reduced or eliminated as a result of an increase in out-of-state activity by the recipient or other person or as a result of such other person not having a taxable presence in the state; (4) results in loss of a compensating tax system, because the tax on interstate commerce exceeds the tax on intrastate commerce; (5) requires that other taxing jurisdictions offer reciprocal tax benefits; or (6) requires that a tax incentive earned with respect to one tax can only be used to reduce a tax burden for, or provide a tax benefit against, any other tax that is not imposed on apportioned interstate activities.
United States · United States Congress · 19 March 2007
America's Better Classroom Act of 2007 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified public school modernization bonds, defined to include: (1) bonds for the construction, rehabilitation, or repair of a public school facility or for the acquisition of land for such facility (qualified school construction bonds); (2) bonds to finance certain academic programs below the postsecondary level in empowerment zones or enterprise communities (qualified zone academy bonds); and (3) bonds for the construction, rehabilitation, or repair of certain Indian tribal schools (qualified tribal school modernization bonds). Establishes a national limitation on the issuance of such bonds and provides for the allocation of bond amounts among the states according to a specified formula. Limits the term of such bonds to 15 years and terminates the authority for issuance of such bonds after September 30, 2008 (December 31, 2013, for qualified tribal school modernization bonds). Amends the General Education Provisions Act to apply certain labor standards to public school construction projects financed by this Act. Amends the Workforce Investment Act of 1998 to require states to establish employment and training programs relating to the construction or reconstruction of public school facilities.
United States · United States Congress · 19 March 2007
Amends the Internal Revenue Code to make permanent the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes.
United States · United States Congress · 19 March 2007
Gasoline Tax Relief Act of 2007 - Amends the Internal Revenue Code to suspend excise taxes on diesel and other highway motor fuels during specified periods when weekly retail gasoline prices as published by the Department of Energy exceed $2.75 per gallon.
United States · United States Congress · 19 March 2007
Armed Forces Tax Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income all compensation received for active service as a member of the Armed Forces, not including pensions and retirement pay. (Terminates the current limited exclusion from gross income for combat pay.)
United States · United States Congress · 19 March 2007
Katrina Housing Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) qualify certain buildings in the Gulf Opportunity Zone, the Rita GO Zone, and the Wilma GO Zone (GO Zones) placed in service before 2011 for a full housing tax credit if such buildings receive (or received) a state or local housing credit allocation in 2006, 2007, or 2008; (2) extend through 2010 the treatment of such GO Zones as difficult development areas eligible for an increased housing tax credit; (3) exclude the receipt of certain federal assistance in determining whether GO Zone buildings eligible for the housing tax credit are federally subsidized and therefore subject to limitations on such credit; and (4) treat qualified GO Zone repair and reconstruction loans provided prior to 2011 as qualified rehabilitation loans financed by tax-exempt bonds.
United States · United States Senate · 16 March 2007
United States · United States Congress · 16 March 2007
Sets forth the congressional budget for the federal government for FY2008, including the appropriate budgetary levels for FY2007 and FY2009-FY2012. Lists recommended budgetary levels and amounts, for FY2007-FY2012, with respect to: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) public debt; and (6) debt held by the public. Lists the appropriate levels of new budget authority, outlays, and administrative expenses for Social Security and specified major functional categories for FY2007-FY2012. Makes it out of order to consider in the Senate any: (1) direct spending or revenue legislation increasing the on-budget deficit or causing an on-budget deficit for any one of specified applicable time periods; (2) reconciliation legislation increasing the deficit or reducing a surplus; or (3) legislation increasing long-term deficits. Continues the supermajority enforcement requirements of the Congressional Budget Act of 1974 as a Senate rule through FY2017. Prohibits Senate legislation that would: (1) require advanced appropriations, with a specified exception; or (2) cause the discretionary spending limits in this resolution to be exceeded. Establishes specified discretionary spending limits in the Senate. Provides for adjustments to discretionary spending limits, budgetary aggregates, and allocations for: (1) continuing disability reviews and Supplemental Security Income (SSI) redeterminations for the Social Security Administration (SSA); (2) Internal Revenue Service (IRS) tax enforcement; (3) health care fraud and abuse control; (4) unemployment insurance improper payments reviews; (5) wildland fire suppression; (6) costs of the global war on terror; and (7) training, equipment, or other matters necessary for the protection of U.S. forces in the global war on terrorism, or activities addressing deficiencies in Walter Reed Army Medical Center and other military medical system facilities. Makes it out of order for the Senate to consider direct spending or revenue legislation that would increase the on-budget deficit in any fiscal year until the President submits to Congress and Congress enacts legislation which would restore 75-year solvency to the Old-Age, Survivors, and Disability Insurance (OASDI) Trust Funds as certified by the SSA actuaries. Provides for certain deficit-neutral reserve funds for legislation concerning: (1) reauthorization of the State Children's Health Insurance Program (SCHIP); (2) care of wounded service members; (3) tax relief; (4) comparative effectiveness research; (5) higher education; (6) the farm bill; (7) energy legislation; (8) Medicare; (9) small business health insurance; (10) reauthorization of the Secure Rural Schools and Community Self-Determination Act of 2000; (11) reauthorization of terrorism risk insurance; (12) affordable housing; (13) receipts from Bonneville Power Administration; (14) Indian claims settlement; (15) the Food and Drug Administration (FDA); (16) health care enhancement; (17) veterans' benefits enhancement; (18) long-term care improvement; (19) health information technology; (20) child care; (21) comprehensive immigration reform; and (22) mental health parity.
United States · United States House of Representatives · 15 March 2007
United States · United States House of Representatives · 15 March 2007
United States · United States Senate · 15 March 2007
United States · United States Senate · 15 March 2007
United States · United States Senate · 15 March 2007
United States · United States Senate · 15 March 2007
United States · United States Congress · 15 March 2007
Academic Partnerships Lead Us to Success Act or the A PLUS Act - Allows each state to enter into a five-year performance agreement with the Secretary of Education permitting it to receive federal funds on a consolidated basis that would otherwise be directed toward specific programs furthering the stated purpose of title I (Improving the Academic Achievement of the Disadvantaged) of the Elementary and Secondary Education Act of 1965. Requires each agreement to be approved by a combination of specified state parties, and list the programs for which consolidated funding is requested. Allows states to use such funds for any educational purpose permitted by state law, but requires states to make certain assurances that they will use fiscal control and fund accounting procedures, abide by federal civil rights laws, and advance educational opportunities for the disadvantaged. Allows amendments to the scope of performance agreements. Requires each agreement state to: (1) maintain an accountability system measuring annual student progress toward state proficiency standards; (2) annually disseminate student performance data disaggregated by specified student groups; and (3) keep aggregate spending on elementary and secondary education at no less than 90% of such spending for the school year coinciding with this Act's enactment. Limits administrative expenses. Requires the inclusion of private schools and teachers in activities funded on a consolidated basis. Directs the Secretary to evaluate each performance agreement midway through its execution. Allows the Secretary to terminate an agreement whose terms are not met for three consecutive school years.
United States · United States Congress · 15 March 2007
Idling Reduction Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow a business tax credit for 25% of the cost of a qualifying idling reduction device, up to $1,000. Defines "qualifying idling reduction device" as any device that is: (1) installed on a heavy-duty diesel-powered on-highway vehicle to provide services that would otherwise require the operation of the main drive engine while the vehicle is temporarily parked or stationary; and (2) certified by the Secretary of Energy to reduce long-duration idling. Directs the Secretary to publish standards for certifying such devices.
United States · United States Congress · 15 March 2007
Alzheimer's Family Assistance Act of 20007 - Amends the Internal Revenue Code to: (1) allow a phased-in tax credit ($1,000 in 2007 increasing by $500 each year until allowing $3,000 in 2011) for family caregivers of spouses and dependents who have long-term care needs; (2) allow a tax deduction for long-term care insurance premiums; and (3) apply certain consumer protection standards to long-term care insurance contracts.
United States · United States Congress · 15 March 2007
Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
United States · United States Congress · 15 March 2007
Capital Gains Inflation Relief Act of 2007 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.
United States · United States Congress · 15 March 2007
Prescription Coverage Now Act of 2007 - Amends part D (Voluntary Prescription Drug Benefit Program) of title XVIII (Medicare) of the Social Security Act to direct the Secretary of Health and Human Service to provide for an expedited process for the qualification for low-income assistance through a request to the Secretary of the Treasury for tax return and other information sufficient to identify: (1) whether the individual involved is likely eligible for subsidies; and (2) the amount of premium and cost-sharing subsidies for which they would qualify based on such information. Provides for modification of resource standards for determination of eligibility for low-income subsidy and revision of income and asset rules. Requires indexing of deductibles and cost-sharing above the annual out-of-pocket threshold for individuals with income below 150% of the poverty line. Requires screening by the Commissioner of Social Security for eligibility under Medicare savings programs. Creates a special enrollment period for subsidy eligible individuals. Waives the late enrollment penalty for subsidy eligible individuals.
United States · United States Congress · 15 March 2007
Married Student Debt Relief Act of 2007 - Amends the Internal Revenue Code to allow a husband and wife filing a joint tax return to each claim the maximum tax deduction of $2,500 for interest on education loans.
United States · United States Congress · 15 March 2007
Academic Partnerships Lead Us to Success Act or the A PLUS Act - Allows each state to submit to the Secretary of Education a declaration of intent, applicable for up to five years, permitting it to receive federal funds on a consolidated basis that would otherwise be directed toward specific programs furthering the stated purpose of title I (Improving the Academic Achievement of the Disadvantaged) of the Elementary and Secondary Education Act of 1965. Requires each declaration to be formulated by a combination of specified State Authorizing Officials or by referendum, and list the programs for which consolidated funding is requested. Allows states to use such funds for any educational purpose permitted by state law, but requires states to make certain assurances that they will use fiscal control and fund accounting procedures, abide by federal civil rights laws, and advance educational opportunities for the disadvantaged. Allows states to amend their declarations. Requires each declaration state to: (1) inform the public of its student achievement assessment system and annually report on student progress toward the state's proficiency standards, disaggregating performance data by specified student groups; and (2) keep aggregate spending on elementary and secondary education at no less than 90% of such spending for the school year coinciding with this Act's enactment. Limits administrative expenses. Requires consolidated funds to be distributed in a manner that allows for the equitable, as determined by each state, participation of private schools.
United States · United States Congress · 15 March 2007
Civil Rights Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) allow an exclusion from gross income for amounts received (either backpay or frontpay or punitive damages) on account of an unlawful discrimination claim; and (2) allow income averaging for backpay and frontpay amounts received from such claims.
United States · United States House of Representatives · 14 March 2007
United States · United States House of Representatives · 14 March 2007
United States · United States House of Representatives · 14 March 2007
United States · United States Senate · 14 March 2007
United States · United States Congress · 14 March 2007
Incentives to Educate American Children (I Teach) Act of 2007 - Amends the Internal Revenue Code to permit a tax credit of $1,000 for: (1) teachers in public elementary or secondary schools or public kindergartens in rural areas or areas with high poverty; and (2) teachers certified by the National Board for Professional Teaching Standards. Grants a credit of $2,000 for a teacher meeting both criteria.
United States · United States Congress · 14 March 2007
Short Line Railroad Investment Act of 2007 - Amends the Internal Revenue Code to: (1) increase the allowable amount of the railroad track maintenance tax credit; (2) extend such credit through 2010; and (3) allow such credit against alternative minimum tax liabilities.
United States · United States Congress · 14 March 2007
Savings for Working Families Act of 2007 - Allows certain low-income individuals between age 18 and 61 to establish tax-exempt individual development accounts (IDAs) to pay for certain qualified expenses, including education expenses, first-time homebuyer costs, and business capitalization or expansion costs. Sets forth rules for the establishment, maintenance, and termination of IDAs. Permits tax-free withdrawals from IDAs for qualified expenses, but requires IDA beneficiaries to complete one or more financial education courses prior to making an IDA withdrawal. Allows certain financial institutions, tax-exempt organizations, and Indian tribes to sponsor and administer IDAs. Amends the Internal Revenue Code to allow such entities a business-related tax credit for the cost of administering IDAs and for making matching contributions to IDAs in parallel accounts. Provides that IDA amounts shall be disregarded for purposes of determining eligibility for assistance under certain means-tested federal programs.
United States · United States Congress · 14 March 2007
Amends the Internal Revenue Code to extend through December 31, 2017, the income tax credit for biodiesel used as fuel and the excise credits for biodiesel mixtures and biodiesel used to produce biodiesel mixtures.
United States · United States Congress · 14 March 2007
Artist-Museum Partnership Act - Amends the Internal Revenue Code to allow taxpayers who create literary, musical, artistic, or scholarly compositions or similar property a fair market value (determined at the time of contribution) tax deduction for contributions of such properties, the copyrights thereon, or both, to certain tax-exempt organizations, if such properties are properly appraised and are donated no sooner than 18 months after their creation. Limits the amount of such deduction based upon the donor's artistic adjusted gross income, as defined by this Act.
United States · United States Congress · 14 March 2007
Savings for Working Families Act of 2007 - Allows certain low-income individuals between age 18 and 61 to establish tax-exempt individual development accounts (IDAs) to pay for certain qualified expenses, including education expenses, first-time homebuyer costs, and business capitalization or expansion costs. Sets forth rules for the establishment, maintenance, and termination of IDAs. Permits tax-free withdrawals from IDAs for qualified expenses, but requires IDA beneficiaries to complete one or more financial education courses prior to making an IDA withdrawal. Allows certain financial institutions, tax-exempt organizations, and Indian tribes to sponsor and administer IDAs. Amends the Internal Revenue Code to allow such entities a business-related tax credit for the cost of administering IDAs and for making matching contributions to IDAs in parallel accounts. Provides that IDA amounts shall be disregarded for purposes of determining eligibility for assistance under certain means-tested federal programs.
United States · United States Senate · 13 March 2007
United States · United States House of Representatives · 13 March 2007