Taxation

FHA Emergency Fiscal Solvency Act of 2013

United States · United States Congress · 13 March 2013

FHA Emergency Fiscal Solvency Act of 2013 - Amends the National Housing Act (NHA) to direct the Secretary of Housing and Urban Development (HUD) (who currently is authorized) to establish and collect additional annual premium payments for the first 11 years of the term of an insured mortgage in an amount between 0.55% and 2% of the remaining insured principal balance (with certain adjustments) for certain periods. Increases from 1.55% to 2.05% the 30-year annual premium for an insured mortgage whose original principal obligation exceeds 95% of the remaining principal balance. Revises conditions for the Secretary's exercise of authority to require indemnification for an insurance loss claim paid on a mortgage insured by a mortgagee to which the Secretary delegated insuring authority. Extends the Secretary's authority to require such an indemnification to a mortgage executed by a mortgagee approved under the direct endorsement program. Revises the conditions invoking indemnification authority to cover a circumstance where the mortgagee knew, or should have known, of a serious or material violation of the pertinent mortgage requirements, regardless of whether the violation caused the mortgage default. Makes similar revisions to the Secretary's indemnification authority in the circumstance where fraud or misrepresentation was involved in connection with the origination or underwriting and the mortgagee knew or should have known about it. Directs the Secretary to establish a process for mortgagees to appeal indemnification determinations. Directs the Secretary to establish a program to: (1) review the cause of each early period delinquency on a mortgage that is an obligation of the Mutual Mortgage Insurance Fund (Fund); (2) require indemnification of the Secretary for a loss associated with any such delinquency that results from a material violation of any guideline established or promulgated under NHA; and (3) report publicly a summary of the results of all early period reviewed delinquencies, any indemnifications required, and the financial impact on the Fund of any such indemnifications. Requires semiannual independent studies and reports during periods of capital depletion of the Fund. Directs the Secretary to analyze the cost and feasibility of an independent quarterly actuarial study of the Fund. Authorizes the Secretary to terminate the approval of the mortgagee to originate or underwrite single family mortgages for more than one area or on a nationwide basis, if the mortgagee has an excessive rate of early defaults and claims. Revises the criteria for the eligibility of a mortgage for Federal Housing Administration (FHA) insurance to authorize the participation of certain persons or entities approved by the Secretary in the origination of single family mortgages and/or home equity conversion mortgages for elderly homeowners. Directs the Secretary to require each mortgagee, as a condition for approval to originate or underwrite mortgages on HUD-insured single family or multifamily housing, to notify the Secretary of the action taken, and the reasons for it, if the mortgagee: (1) engages in the purchase of mortgages insured by the Secretary and originated by other mortgagees, or in the purchase of the servicing rights to such mortgages; and (2) at any time takes action to terminate or discontinue such purchases from another mortgagee based on any determination or evidence of fraud or material misrepresentation in connection with the origination of such mortgages. Includes among the information the Secretary is required to collect regarding early defaults on insured mortgages all data on the number of claims paid to each servicing mortgagee during each calendar quarter occurring during the applicable collection period. Establishes within FHA a Deputy Assistant Secretary for Risk Management and Regulatory Affairs, who shall be responsible for all matters relating to: (1) managing and mitigating risk to HUD mortgage insurance funds, and (2) ensuring the performances of HUD-insured mortgages. Amends the Department of Housing and Urban Development Act to establish within HUD a Chief Risk Officer for the Government National Mortgage Association (Ginnie Mae). Directs the Secretary to: (1) examine mortgage servicer compliance with the loan servicing, loss mitigation, and insurance claim submission guidelines of the FHA mortgage insurance programs; (2) estimate the annual costs to the Fund, since 2008, resulting from any failures by mortgage servicers to comply with such guidelines; and (3) develop an emergency capital plan for the restoration of the Fund's fiscal solvency. Directs the Comptroller General to provide for third party review of: (1) the financial safety and soundness of HUD mortgage insurance programs and funds, and (2) the extent of their loan loss reserves and capital adequacy. Directs the Secretary to review and revise all standards and requirements relating to disclosure of information on the mortgage insurance programs and funds. Directs the Secretary to examine all the mortgage insurance and any other FHA programs to: (1) identify the level of use and need for such programs; (2) any such programs that are unused or underused; and (3) methods for streamlining, consolidating, simplifying, increasing the efficiency of, and reducing the number of such programs.

Family Friendly HSA Improvement Act of 2013

United States · United States Congress · 13 March 2013

Family Friendly HSA Improvement Act of 2013 - Amends the Internal Revenue Code, with respect to health savings accounts (HSAs), to increase (up to age 27) the age limit for dependents whose medical expenses may be paid from such accounts.

Veterinary Medicine Loan Repayment Program Enhancement Act

United States · United States Congress · 13 March 2013

Veterinary Medicine Loan Repayment Program Enhancement Act - Amends the Internal Revenue Code to exclude from gross income payments under the federal veterinary medicine loan repayment program or any other state loan repayment or forgiveness program that is intended to provide for increased access to veterinary services in such state.

Business Should Mind Its Own Business Act

United States · United States Congress · 13 March 2013

Business Should Mind Its Own Business Act - Amends the Internal Revenue Code to impose on corporations a 500% excise tax on the total amount of their campaign contributions and electioneering communications on behalf of a candidate for federal office. Denies such corporations a tax deduction for payment of such taxes.

Celebrating the history of municipal bonds, the 100-year precedent of the Federal tax exemption for municipal bond interest, and the important contribution municipal bonds have made to economic growth and wellbeing in each State and municipality in our great Nation.

United States · United States Congress · 13 March 2013

Celebrates the history of municipal bonds, the 100-year precedent of the federal tax exemption for municipal bond interest, and the important contribution municipal bonds have made to economic growth and wellbeing in each state and municipality.

Rural Heritage Conservation Extension Act of 2013

United States · United States Congress · 12 March 2013

Rural Heritage Conservation Extension Act of 2013 - Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes; and (2) prohibit any such deduction for contributions of an easement for use on, or intended use on, a golf course.

To amend the Patient Protection and Affordable Care Act to provide for savings to the Federal Government by permitting pass-through funding for State authorized public entity health benefits pools.

United States · United States Congress · 12 March 2013

Amends the Patient Protection and Affordable Care Act (PPACA) to allow a state-authorized public entity benefits pool to apply to the Secretary of Health and Human Services (HHS) for pass-through funding with respect to health care benefits provided through the pool for coverage years beginning on or after January 1, 2014. Requires the Secretary to approve such a pool if the health care benefits provided through it will: (1) provide at least the essential health benefits, (2) provide coverage and cost-sharing protections against excessive out-of-pocket spending that are at least as affordable as the health insurance requirements of PPACA would provide, and (3) result in cost savings to the federal government because the cost of coverage through the pool is less than the cost of coverage through an exchange. Treats an individual covered under such a plan as having minimum essential coverage for purposes of the Internal Revenue Code. Requires the Secretary to provide for an alternative means by which an aggregate amount shall be paid to the pool annually based on the premium tax credits, cost-sharing reductions, and small business credits that would have been provided to an exchange plan. Gives the Secretary 180 days to make a determination on an application under this Act.

Offshoring Prevention Act

United States · United States Congress · 12 March 2013

Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

President's Salary SUBMIT Act

United States · United States Congress · 12 March 2013

President's Salary Suspended Unless Budget Measure Is On Time Act or President's Salary SUBMIT Act - Requires the payroll administrator responsible for the disbursement of the President's compensation to deposit in an escrow account all such payments otherwise required to be made, if by the first Monday in February of a year the President has not submitted his budget for the succeeding fiscal year. Requires the deposits to begin the day after such Monday and to be released to the President on the earlier of: the day on which he submits the budget, or the last day of his term of office in which such first Monday occurs. Makes this requirement inapplicable to a budget required to be submitted by the President within 30 days after: the commencement date of the term for which the President is elected; or the date as of which a successor fills a vacancy in the office of the President which resulted from his removal from office, death, resignation, or inability to discharge the powers and duties of such office.

Consumer Mortgage Choice Act

United States · United States Congress · 12 March 2013

Consumer Mortgage Choice Act - Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% percent of the total loan amount or $400, whichever is greater. (Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.) Excludes from the computation of such points and fees: (1) the amount of any loan level price adjustment payment set by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal Housing Administration (FHA), or similar government entity or government-sponsored enterprise; (2) any compensation paid by a mortgage originator or a creditor to an individual person employed by the mortgage originator or creditor; and (3) any escrow for future payment of insurance. Modifies the inclusion in the computation of points and fees of all compensation paid to mortgage brokers. Specifies instead all compensation paid directly by a consumer to a mortgage originator, including a mortgage originator that is also the creditor in a table-funded transaction, but not including compensation paid by a mortgage originator or a creditor to an individual employed by the mortgage originator or creditor. Modifies the criteria for exclusion from the computation of points and fees of certain reasonable charges elsewhere exempted from the computation of the finance charge in extensions of credit secured by an interest in real property. Excludes from points and fees any such reasonable charges even though a creditor receives compensation, but only in so far as the creditor or its affiliate retains the compensation as a result of their participation in an affiliated business arrangement. (An "affiliated business arrangement" is one in which: (1) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1% in a provider of settlement services; and (2) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the provider's selection.) Revises the additional requirement that such a reasonable charge be paid to a third party unaffiliated with the creditor. Requires the charge to be: (1) a bona fide third party charge not retained by the mortgage originator, creditor, or an affiliate; or (2) a fee or premium for title examination, title insurance, or similar purposes. Modifies the conditions under which federal departments and agencies may exempt refinancings under a streamlined refinancing from an income verification requirement that, at the time a refinancing is consummated, the consumer has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments. Repeals the exception for bona fide third party charges not retained by the mortgage originator, creditor, or an affiliate from the requirement that total points and fees not exceed 3% of the total new loan amount. (Thus subjects such charges to the same 3% ceiling.)

STATE Act

United States · United States Congress · 12 March 2013

Surface Transportation and Taxation Equity Act or the STATE Act - Amends the Internal Revenue Code to reduce the federal excise tax on gasoline and special fuels (but not below two cents per gallon) by corresponding increases in fuel taxes imposed by states as of March 12, 2013 (the date of introduction of this Act).

EXCEL Act

United States · United States Congress · 11 March 2013

Expanding Access to Capital for Entrepreneurial Leaders Act or the EXCEL Act - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Authorizes annual inflationary adjustments of such limits. Directs the Administrator to make publicly available on the SBA website specified fiscal and related information with respect to each SBIC. Allows SBIC licensing fees to be used by the SBA for SBIC program needs other than the costs of licensing examinations. Expresses the sense of Congress that SBICs would benefit from partnerships with community banks and other lenders, and that the Administrator should: (1) increase outreach to such banks and lenders for investment in SBICs; (2) use the Internet to publicize which SBICs are soliciting and making investments in small businesses; (3) partner with governors, mayors, states, and municipalities to increase outreach by SBICs to underserved and rural areas; and (4) revise and update the SBIC program webpage to make it more prominent and user-friendly.

PRE-K Act

United States · United States Congress · 11 March 2013

Providing Resources Early for Kids Act of 2013 or the PRE-K Act - Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to award matching grants to states to enhance or improve state-funded preschool programs. Sets forth a grant formula favoring states that: (1) have curricula aligned with state early learning standards; (2) use nationally-established, or better, best practices for class size and teacher-to-student ratios; (3) require each teacher to have at least an associate degree in early childhood education or a related field; (4) require such programs to operate for at least a full academic year; and (5) have a plan for meeting the requirement, within five years of receiving such grant, that teachers have at least a baccalaureate degree in early childhood education or have such degree in a related field, but have also completed specialized training in early childhood education. Directs the Secretary to establish a competitive process for awarding grants to other states that demonstrate that they will meet such requirements within two fiscal years. Prohibits state grantees from reducing their preschool or child care expenditures. Requires states to give priority, in using grant funds, to preschool programs in communities with high concentrations of impoverished children. Includes among grant uses: (1) increasing the qualifications of, and benefits provided to, teachers, teacher aides, and program directors; (2) decreasing class size and improving teacher-to-student ratios; (3) providing certain comprehensive services that support healthy child development; (4) extending program duration; (5) improving program monitoring and learning environments; and (6) providing classroom supplies or equipment. Reserves funds for competitive grants to Indians for their preschool programs.

TALENT Act

United States · United States Congress · 11 March 2013

To Aid Gifted and High-Ability Learners by Empowering the Nation's Teachers Act or the TALENT Act - Amends the Elementary and Secondary Education Act of 1965 to require state assessments of student proficiency to measure individual academic achievement, including above grade level achievement. Requires states to: (1) recognize local educational agencies (LEAs) that significantly increase the proportion of their students, overall and in specified student subgroups, that score at or above the advanced level of achievement on such assessments; (2) assist their LEAs and schools in providing additional educational assistance to advanced, gifted, and talented students; and (3) report annually a comparison of the performance of students between different LEAs at each level of achievement, disaggregated by specified student subgroups. Requires LEAs receiving school improvement funds to identify gifted and talented students and support their learning needs. Requires LEAs and partnerships that receive funding under the Teacher and Principal Training and Recruiting Fund program to train educators to identify gifted and talented students and implement instructional practices that support their education. Authorizes LEAs to use funding under: (1) the small rural school achievement program to support gifted and talented students, and (2) the rural and low-income school program to train teachers to meet the unique learning needs of gifted and talented students. Directs the Secretary, through the Director of the Institute of Education Sciences, to: (1) continue research and development activities regarding the education of gifted and talented students; (2) support a National Research and Dissemination Center on the Gifted and Talented; (3) administer demonstration grants that enhance the ability of educators to support gifted and talented students; and (4) ensure that statistical data regarding the education of gifted and talented children is collected, reported, analyzed, and disseminated. Amends the America COMPETES Reauthorization Act of 2010 to require the committee established to coordinate federal STEM (Science, Technology, Engineering, and Mathematics) education programs to encourage participating agencies to develop and implement programs for advanced students. Amends the National Defense Authorization Act for Fiscal Year 1991 to require the Secretary of Energy to use academic achievement as the basis for student participation in the Department of Energy's (DOE's) mathematics and science education programs for elementary and secondary school students and its prefreshman science, mathematics, and technology enrichment program for middle school students. Amends the America COMPETES Act to give Advanced Placement (AP) program and International Baccalaureate (IB) program grant priority to eligible entities that are part of a statewide strategy to increase the availability of AP or IB mathematics, science, and critical foreign language courses by making such courses available earlier than usual to students who are prepared for the work.

PRE-K Act

United States · United States Congress · 11 March 2013

Providing Resources Early for Kids Act of 2013 or the PRE-K Act - Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to award matching grants to states to enhance or improve state-funded preschool programs. Sets forth a grant formula favoring states that: (1) have curricula aligned with state early learning standards; (2) use nationally-established, or better, best practices for class size and teacher-to-student ratios; (3) require each teacher to have at least an associate degree in early childhood education or a related field; (4) require such programs to operate for at least a full academic year; and (5) have a plan for meeting the requirement, within five years of receiving such grant, that teachers have at least a baccalaureate degree in early childhood education or have such degree in a related field, but have also completed specialized training in early childhood education. Directs the Secretary to establish a competitive process for awarding grants to other states that demonstrate that they will meet such requirements within two fiscal years. Prohibits state grantees from reducing their preschool or child care expenditures. Requires states to give priority, in using grant funds, to preschool programs in communities with high concentrations of impoverished children. Includes among grant uses: (1) increasing the qualifications of, and benefits provided to, teachers, teacher aides, and program directors; (2) decreasing class size and improving teacher-to-student ratios; (3) providing certain comprehensive services that support healthy child development; (4) extending program duration; (5) improving program monitoring and learning environments; and (6) providing classroom supplies or equipment. Reserves funds for competitive grants to Indians for their preschool programs.

Flat Tax Act

United States · United States Congress · 11 March 2013

Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing income tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs. Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter. Repeals the estate, gift, and generation-skipping transfer taxes. Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.

BUILD Act

United States · United States Congress · 7 March 2013

Brownfields Utilization, Investment, and Local Development Act of 2013 or the BUILD Act - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) to include among entities eligible for brownfields revitalization funding: (1) a tax-exempt charitable organization, (2) a limited liability corporation in which all managing members are tax-exempt charitable organizations or limited liability corporations whose sole members are such organizations, (3) a limited partnership in which all general partners are tax-exempt charitable organizations or limited liability corporations whose sole members are such organizations, or (4) a qualified community development entity. Requires the Administrator of the Environmental Protection Agency (EPA) to establish a program to provide multipurpose grants to carry out inventory, characterization, assessment, planning, or remediation activities at brownfield sites in a proposed area. Revises the brownfield site characterization and assessment grant program to authorize an eligible entity that is a governmental entity to receive a grant for property acquired by such governmental entity prior to January 11, 2002, even if the governmental entity does not qualify as a bona fide prospective purchaser as defined under such Act. Increases the maximum amount the President may give in grants and loans to eligible entities for brownfield remediation. Repeals prohibitions on giving grants and loans for brownfields revitalization for administrative costs and the cost of complying with federal law. Excludes from the meaning of "administrative costs" costs for investigating and identifying the extent of the contamination, designing and performing a response action, or monitoring a natural resource. Requires the Administrator to give priority to small communities, Indian tribes, rural areas, or low-income areas with a population of not more than 15,000 in providing assistance to facilitate the inventory of brownfield sites, site assessments, remediation of brownfield sites, community involvement, or site preparation. Requires the Administrator, in giving grants for brownfields revitalization, to give consideration to waterfront brownfield sites. Requires the Administrator to establish a program to provide grants to: (1) carry out inventory, characterization, assessment, planning, feasibility analysis, design, or remediation activities to locate a clean energy project at brownfield sites; and (2) capitalize a revolving loan fund for such purposes. Authorizes the Administrator to provide grants for state response programs. Extends the authorizations of appropriations for brownfields revitalization funding and state response programs.

Volunteer Emergency Services Recruitment and Retention Act of 2013

United States · United States Congress · 7 March 2013

Volunteer Emergency Services Recruitment and Retention Act of 2013 - Amends the Internal Revenue Code to allow sponsors of certain deferred compensation plans to elect to include length of service award plans for bona fide volunteers providing firefighting and fire prevention services, emergency medical services, ambulance services, and emergency rescue services. Directs the Secretary of Labor to issue regulations exempting a length of service award program from treatment as an employee pension benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA).

Volunteer Responder Incentive Protection Reauthorization Act of 2013

United States · United States Congress · 7 March 2013

Volunteer Responder Incentive Protection Reauthorization Act of 2013 - Amends Internal Revenue Code, with respect to the tax exclusion for benefits paid to volunteer firefighters and emergency medical providers by states and local governments, to: (1) increase the amount of benefits excludible; and (2) make such tax exclusion available for taxable years beginning in 2014, 2015, or 2016.

Keeping Our Social Security Promises Act

United States · United States Congress · 7 March 2013

Keeping Our Social Security Promises Act - Amends the Internal Revenue Code to apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000.

A bill to amend the Internal Revenue Code of 1986 to expand the types of livestock for which bonus depreciation is available.

United States · United States Congress · 7 March 2013

Amends the Internal Revenue Code to allow the special depreciation allowance (bonus depreciation) for dairy producing calves and cows purchased for business use, regardless of whether the original use of such livestock commenced with another taxpayer.

Dairy Augmentation for Increased Retail in Yogurt products (DAIRY) Act

United States · United States Congress · 7 March 2013

Dairy Augmentation for Increased Retail in Yogurt products (DAIRY) Act - Amends the Internal Revenue Code to: (1) establish tax-exempt dairy farm savings accounts to allow taxpayers engaged in the trade or business of dairy farming to use distributions from such accounts to pay business expenses; (2) allow a deduction from gross income for cash contributions to such accounts; and (3) set forth tax rules relating to, and penalties for, account distributions, excess contributions, and prohibited transactions.

Mobile Mammography Promotion Act of 2013

United States · United States Congress · 7 March 2013

Mobile Mammography Promotion Act of 2013 - Amends the Internal Revenue Code to exempt from the motor fuel excise tax fuel used in any highway vehicle designed exclusively to provide mobile mammography services.

Social Security Protection and Truth in Budgeting Act of 2013

United States · United States Congress · 7 March 2013

Social Security Protection and Truth in Budgeting Act of 2013 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to prohibit the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security trust funds) from being included in the federal budget baseline for any fiscal year and from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of offsetting any tax decrease or spending increase. Excludes Social Security trust fund receipts and disbursements totals from official Office of Management and Budget (OMB) and Congressional Budget Office (CBO) budget pronouncements. Makes proceeds to the Social Security trust funds from Social Security taxes available solely for OASDI purposes. Prohibits their availability for the establishment or funding of private accounts.

Making College Affordable Act of 2013

United States · United States Congress · 7 March 2013

Making College Affordable Act of 2013 - Amends the Internal Revenue Code, with respect to Coverdell education savings accounts, to: (1) increase the age limit for beneficiaries of such accounts after which contributions may not be made from age 18 to age 26, (2) increase the maximum contribution limit in any taxable year from $2,000 to $10,000, and (3) allow an annual inflation adjustment to the increased contribution limit for taxable years beginning in a calendar year after 2013.

No Loopholes in Social Security Taxes Act

United States · United States Congress · 7 March 2013

No Loopholes in Social Security Taxes Act - Amends the Internal Revenue Code to apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000.

Small Business Efficiency Act

United States · United States Congress · 6 March 2013

Small Business Efficiency Act - Amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer). Sets forth IRS certification requirements for PEOs, including financial review and reporting requirements. Requires a PEO to post a bond each year, up to $1 million, to guarantee payment of employment taxes.

Swaps Regulatory Improvement Act

United States · United States Congress · 6 March 2013

Swaps Regulatory Improvement Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to the prohibition against certain federal assistance to swaps entities, namely the use of any advances from specified Federal Reserve credit facilities or discount windows, or Federal Deposit Insurance Corporation (FDIC) insurance or guarantees, for the purpose of: (1) making any loan to, or purchasing any stock, equity interest, or debt obligation of, any swaps entity; (2) purchasing the assets of any swaps entity; (3) guaranteeing any loan or debt issuance of any swaps entity; or (4) entering into any assistance arrangement (including tax breaks), loss sharing, or profit sharing with any swaps entity. Extends to any major swap participant or major security-based swap participant that is an uninsured U.S. branch or agency of a foreign bank the exemption from the prohibition against federal assistance to swaps entities which is currently limited to any major swap participant or major security-based swap participant that is an FDIC-insured bank or savings association. Designates both uninsured U.S. branches or agencies of a foreign bank and insured depository institutions as "covered depository institutions." Requires any covered depository institution exempted from the prohibition to limit its swap and security-based swap activities to hedging and similar risk mitigating activities (as under current law), non-structured finance swap activities, or certain structured finance swap activities. (Defines "structured finance swap" as a swap or security-based swap based on an asset-backed security [or group or index primarily composed of asset-backed securities].) Qualifies a structured finance swap activity for the exemption if: (1) it is undertaken for hedging or risk management purposes, or (2) each asset-backed security underlying the structured finance swap is of a credit quality and of a type or category with respect to which the prudential regulators have jointly adopted rules authorizing such a swap or security-based swap activity by covered depository institutions. Repeals the exemption from the prohibition for any insured depository institution that limits its swap and security-based swap activities to acting as a swaps entity for: (1) swaps or security-based swaps involving rates or reference assets that are permissible for investment by a national bank; or (2) credit default swaps, including those referencing the credit risk of asset-backed securities unless they are cleared by a derivatives clearing organization or a clearing agency registered, or exempt from registration, under the Commodity Exchange Act or the Securities Exchange Act.

CARE Act

United States · United States Congress · 6 March 2013

Coal Accountability and Retired Employee Act of 2013 or CARE Act - Amends the Surface Mining Control and Reclamation Act of 1977 to transfer specified excess funds derived from coal mine operator-paid reclamation fees to the trustees of the 1974 United Mine Workers of America (UMWA) Pension Plan for use solely to pay pension benefits required under such Plan. Amends the Internal Revenue Code to revise 1992 UMWA Benefit Plan eligibility requirements. Makes eligible for health benefits from the 1992 UMWA Benefit Plan an individual who would be eligible to receive benefits from the 1974 UMWA Benefit Plan (with a specified exception) following a bankruptcy or other insolvency proceeding of a coal mine operator, but who does not receive from that operator or any related person health benefits at least equal to those received under the Multiemployer Health Benefit Plan of the Surface Mining Control and Reclamation Act of 1977. Prescribes a special rule to state that employer contributions to an employees' trust or annuity benefit plan providing supplemental benefits solely to participants in a pension plan are neither deductible nor nondeductible as such from the employer's gross income. Subjects such contributions, on the other hand, to the requirements for deduction as an allowable trade or business expense. Treats a trust holding the assets of such a pension benefit plan as a tax-exempt organization. Excludes from wages any payments made to, or on behalf of, an employee or his or her beneficiary under such a plan.

A concurrent resolution supporting the Local Radio Freedom Act.

United States · United States Congress · 6 March 2013

Declares that Congress should not impose any new performance fee, tax, royalty, or other charge relating to the public performance of sound recordings on a local radio station for broadcasting sound recordings over-the-air, or on any business for such public performance of sound recordings.

Swaps Regulatory Improvement Act

United States · United States Congress · 6 March 2013

Swaps Regulatory Improvement Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to the prohibition against certain federal assistance to swaps entities, namely the use of any advances from specified Federal Reserve credit facilities or discount windows, or Federal Deposit Insurance Corporation (FDIC) insurance or guarantees, for the purpose of: (1) making any loan to, or purchasing any stock, equity interest, or debt obligation of, any swaps entity; (2) purchasing the assets of any swaps entity; (3) guaranteeing any loan or debt issuance of any swaps entity; or (4) entering into any assistance arrangement (including tax breaks), loss sharing, or profit sharing with any swaps entity. Extends to any major swap participant or major security-based swap participant that is an uninsured U.S. branch or agency of a foreign bank the exemption from the prohibition against federal assistance to swaps entities which is currently limited to any major swap participant or major security-based swap participant that is an FDIC-insured bank or savings association. Designates both uninsured U.S. branches or agencies of a foreign bank and insured depository institutions as "covered depository institutions." Requires any covered depository institution exempted from the prohibition to limit its swap and security-based swap activities to hedging and similar risk mitigating activities (as under current law), non-structured finance swap activities, or certain structured finance swap activities. (Defines "structured finance swap" as a swap or security-based swap based on an asset-backed security [or group or index primarily composed of asset-backed securities].) Qualifies a structured finance swap activity for the exemption if: (1) it is undertaken for hedging or risk management purposes, or (2) each asset-backed security underlying the structured finance swap is of a credit quality and of a type or category with respect to which the prudential regulators have jointly adopted rules authorizing such a swap or security-based swap activity by covered depository institutions. Repeals the exemption from the prohibition for any insured depository institution that limits its swap and security-based swap activities to acting as a swaps entity for: (1) swaps or security-based swaps involving rates or reference assets that are permissible for investment by a national bank; or (2) credit default swaps, including those referencing the credit risk of asset-backed securities unless they are cleared by a derivatives clearing organization or a clearing agency registered, or exempt from registration, under the Commodity Exchange Act or the Securities Exchange Act.

Volunteer Emergency Services Recruitment and Retention Act of 2013

United States · United States Congress · 6 March 2013

Volunteer Emergency Services Recruitment and Retention Act of 2013 - Amends the Internal Revenue Code to allow sponsors of certain deferred compensation plans to elect to include length of service award plans for bona fide volunteers providing firefighting and fire prevention services, emergency medical services, ambulance services, and emergency rescue services. Directs the Secretary of Labor to issue guidance clarifying that a length of service award program is not an employee pension benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA).

Humphrey-Hawkins Full Employment and Training Act

United States · United States Congress · 6 March 2013

Humphrey-Hawkins Full Employment and Training Act - Directs the Secretary of Labor to establish a Full Employment National Trust Fund with two separate accounts for: (1) Employment Opportunity Grants to states, local governments, and Indian tribes for job-creating activities in communities whose economy is not at a level of full employment; and (2) Workforce Investment programs. Establishes arbitration procedures for resolution of disputes for grant recipients. Requires the Secretary of Labor to post a whistleblower hotline on the Department of Labor's website for the public to report noncompliance with the Act's requirements. Directs the Secretary to convene a national employment conference to bring together leaders of small, medium, and large businesses, labor, government, and other parties to discuss employment, with particular attention to structural unemployment and the plight of disadvantaged youth. Amends the Workforce Investment Act of 1998 to revise member composition requirements for state and local workforce investment boards to include at least 25% of the chief executive officers of minority-serving, community-based organizations. Amends the Internal Revenue Code to impose a tax on certain covered securities transactions, payable by trading facilities or purchasers that deal in such transactions. Requires a transferor with respect to any outbound securities transaction to deduct and withhold a tax equal to the tax imposed on covered securities transactions.

CARE Act

United States · United States Congress · 6 March 2013

Coal Accountability and Retired Employee Act of 2013 or CARE Act - Amends the Surface Mining Control and Reclamation Act of 1977 to transfer specified excess funds derived from coal mine operator-paid reclamation fees to the trustees of the 1974 United Mine Workers of America (UMWA) Pension Plan for use solely to pay pension benefits required under such Plan. Amends the Internal Revenue Code to revise 1992 UMWA Benefit Plan eligibility requirements. Makes eligible for health benefits from the 1992 UMWA Benefit Plan an individual who would be eligible to receive benefits from the 1974 UMWA Benefit Plan (with a specified exception) following a bankruptcy or other insolvency proceeding of a coal mine operator, but who does not receive from that operator or any related person health benefits at least equal to those received under the Multiemployer Health Benefit Plan of the Surface Mining Control and Reclamation Act of 1977. Prescribes a special rule to state that employer contributions to an employees' trust or annuity benefit plan providing supplemental benefits solely to participants in a pension plan are neither deductible nor nondeductible as such from the employer's gross income. Subjects such contributions, on the other hand, to the requirements for deduction as an allowable trade or business expense. Treats a trust holding the assets of such a pension benefit plan as a tax-exempt organization. Excludes from wages any payments made to, or on behalf of, an employee or his or her beneficiary under such a plan.

Community Post Office Relocation Act

United States · United States Congress · 6 March 2013

Community Post Office Relocation Act - Authorizes the U.S. Postal Service (USPS) to sell, at fair market value, to certain tax-exempt private organizations fee simple title to USPS-owned post office buildings containing an office subject to relocation. Requires such tax-exempt private organizations, in order to be considered an eligible buyer, to have operated primarily within the geographic area served by the relevant post office building for at least five years prior to a USPS announcement that the building will be available for sale. Sets forth a procedure for the USPS to enter negotiations with eligible buyers in the order in which buyers submit their offers. Directs the USPS to sell such a building to the first organization submitting an offer for fair market value if all other relevant conditions are met within specified time periods. Permits the USPS, after the sale of a building under this Act, to lease the building from the buyer at fair market value for purposes of operating a post office. Requires the USPS, if a buyer under this Act makes the building available for sale, to maintain a right of first refusal to purchase the building back from the buyer at the lesser of fair market value or the purchase price plus any improvements.

To amend the Internal Revenue Code of 1986 to reduce the holding period used to determine whether horses are section 1231 assets to 12 months.

United States · United States Congress · 6 March 2013

Amends the Internal Revenue Code, with respect to the preferential tax treatment of gains and losses from the sale of depreciable property used in a trade or business, to eliminate "horses" from the definition of "livestock" (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement).

[H.A.S.C. No. 113-14] HEARING ON NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2014 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED THIRTEENTH CONGRESS FIRST SESSION

United States · United States House of Representatives · 5 March 2013

DEPARTMENT OF DEFENSE AUTHORIZATION FOR APPROPRIATIONS FOR FISCAL YEAR 2014 AND THE FUTURE YEARS DEFENSE PROGRAM

United States · United States Senate · 5 March 2013

Coordination of Pro Bono Medically Recommended Dental Care Act

United States · United States Congress · 5 March 2013

Coordination of Pro Bono Medically Recommended Dental Care Act - Amends the Public Health Service Act to direct the Secretary of Health and Human Services (HHS) to award competitive grants to, or enter into contracts with, eligible entities to fund the employment costs of professionals who will use grant or contract funds to: (1) coordinate the provision of medically recommended dental care to eligible low-income individuals by volunteer dentists in a manner consistent with state licensing laws; and (2) verify the medical, dental, and financial needs of individuals who may be eligible for free dental services. Requires an eligible: (1) entity to be tax-exempt and provide for the participation of eligible individuals in a free dental services program on a national basis; and (2) individual to be entitled to benefits or be enrolled under Medicare, Medicaid, or a state plan or waiver under the State Children's Health Insurance Program (CHIP).

Seniors' Tax Simplification Act of 2013

United States · United States Congress · 5 March 2013

Seniors' Tax Simplification Act of 2013 - Directs the Secretary of the Treasury to make available a new federal income tax Form 1040SR (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.

Religious Freedom Tax Repeal Act of 2013

United States · United States Congress · 5 March 2013

Religious Freedom Tax Repeal Act of 2013 - Amends the Internal Revenue Code to exempt an employer opposed by reason of adherence to a religious belief or moral conviction from the tax penalty imposed for failure of a group health plan to cover required women's preventive care and screenings. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to prohibit the Secretary of Labor from bringing an action against a plan to enforce any requirement to provide such coverage to which an employer is opposed by reason of adherence to a religious belief or moral conviction. Exempts group health plans from penalties under state and federal enforcement provisions of the Public Health Service Act for failure to meet such women's health requirements insofar as they concern coverage to which an employer is opposed on the basis of religious belief or moral conviction.

Coordination of Pro Bono Medically Recommended Dental Care Act

United States · United States Congress · 5 March 2013

Coordination of Pro Bono Medically Recommended Dental Care Act - Amends the Public Health Service Act to direct the Secretary of Health and Human Services (HHS) to award competitive grants to, or enter into contracts with, eligible entities to maximize the number of eligible low-income individuals receiving dental care. Requires an entity to use amounts received under a grant or contract to fund the employment costs of a program to: (1) coordinate the provision of free, medically recommended dental care to eligible low-income individuals by volunteer dentists in a manner consistent with state licensing laws; and (2) verify the medical, dental, and financial needs of individuals who may be eligible for such dental services. Requires an eligible: (1) entity to be tax-exempt and provide for the participation of eligible individuals in a free dental services program; and (2) individual to be entitled to benefits or be enrolled under Medicare, Medicaid, or a state plan or waiver under the State Children's Health Insurance Program (CHIP).

Elimination of Single Parent Tax Act of 2013

United States · United States Congress · 5 March 2013

Elimination of Single Parent Tax Act of 2013 - Amends part D (Child Support and Establishment of Paternity) of title IV of the Social Security Act to prohibit states from retaining a $25 annual collection fee from support collected on behalf of an individual applying for child support collection services.

Women WIN Jobs

United States · United States Congress · 5 March 2013

Women and Workforce Investment for Nontraditional Jobs or Women WIN Jobs - Requires the Secretary of Labor, in any fiscal year in which the total authorization of appropriations to carry out this Act exceeds $50 million, to allocate grants to states with approved state plans to provide funding to eligible entities (partnerships) to increase low-income women's participation in high-wage, high-demand occupations in which women make up less than 25% of the current workforce. Authorizes states to use grants for statewide activities, including to: (1) provide technical assistance to eligible entities and to state registered apprenticeship programs and sponsors and joint apprenticeship training councils in meeting their enrollment goal for low-income women in nontraditional occupations, (2) develop policies and protocols that set goals for hiring specific percentages of women into registered apprenticeships and permanent employment openings in publicly assisted projects, and (3) engage in outreach activities and provide training to overcome stereotypes about women in nontraditional occupations as well as gender inequity among employers. Authorizes the allocation of grant funds to eligible entities to support the recruitment, training, placement, and retention of low-income women in nontraditional occupations. Directs the Secretary to convene a national commission to examine and make recommendations for improving the status of women in high-demand, high-wage nontraditional occupations. Directs the Bureau of Labor Statistics (BLS) to collect data on the status of women's participation in underrepresented sectors of the economy, and examine the status of women in relation to that of men. Directs the Secretary to establish a national clearinghouse to collect and distribute best practices.

Invest in American Jobs Act of 2013

United States · United States Congress · 5 March 2013

Invest in American Jobs Act of 2013 - Revises Buy American requirements with respect to federal-aid highways, capital investment grants to support intercity passenger rail service (rail grants), and Amtrak, particularly the handling of waiver requests. Revises similar Buy American requirements with respect to public transportation, particularly rolling stock. Requires the cost of rolling stock components and subcomponents produced in the United States to increase from 60% in FY2013 by 10% annual increments up to 100% for FY2017 and ensuing fiscal years. Revises waiver requirements as well to mirror those for federal-aid highways. Applies the rail grant Buy American requirements under this Act to recipients of rail loans and loan guarantees with respect to railroad rehabilitation and improvement. Prescribes Buy American requirements for procurement of a facility or equipment under federal aviation programs similar to those for rolling stock. Requires the Secretary of Transportation (DOT) to report annually to Congress on: (1) each project for which a waiver of Buy American requirements was issued; and (2) the country of origin and product specifications for steel, iron, or manufactured goods acquired pursuant to each waiver. Amends the Federal Water Pollution Control Act to prescribe Buy American requirements for steel, iron, and manufactured goods used in the construction of a publicly owned wastewater treatment works. Adds similar Buy American requirements to the Public Works and Economic Development Act of 1965, with respect to economic development programs, and to the Robert T. Stafford Disaster Relief and Emergency Assistance Act, with respect to the Federal Emergency Management Agency (FEMA) Hazard Mitigation Grant Program. Amends the Truman-Hobbs Act to prescribe Buy American requirements for steel, iron, and manufactured goods used in the alteration of a bridge over U.S. navigable waters. Declares that only a vessel owned by a U.S. citizen for which a certificate of documentation with a registry endorsement is issued may engage in support of exploration, development, or production of resources in, on, above, or below the exclusive economic zone (EEZ), or any other activity in the EEZ, to the extent that the regulation of such activity is not prohibited under customary international law. Exempts from this requirement any activities requiring either a coastwise endorsement or a fishery endorsement. Subjects to U.S. shipping law any vessels operating in the EEZ, to the extent that the regulation of such operation is not prohibited under customary international law. Directs the Secretary of the department in which the Coast Guard is operating to establish a program to provide Coast Guard personnel with the training necessary for implementation of U.S. shipping law in the EEZ.

PHIT Act of 2013

United States · United States Congress · 5 March 2013

Personal Health Investment Today Act of 2013 or the PHIT Act of 2013 - Amends the Internal Revenue Code to allow a medical care tax deduction for up to $1,000 ($2,000 for married couples filing jointly or heads of household) of qualified sports and fitness expenses. Defines "qualified sports and fitness expenses" as amounts paid for fitness facility memberships, physical exercise programs, and exercise equipment.

Main Street Revival Act

United States · United States Congress · 5 March 2013

Main Street Revival Act - Amends the Internal Revenue Code to allow a specified small business to pay its first-year employment taxes in four annual installments. Defines "specified small business" as any HUBZone business (a business operating in a historically underutilized business zone as defined by the Small Business Act) that is not reasonably expected to employ more than 25 full-time employees in its first year of operation.

PACE Act

United States · United States Congress · 5 March 2013

Protecting America's Civilian Employees Act or PACE Act - Requires the Director of the Office of Management and Budget (OMB) to report to Congress, within 30 days after enactment of this Act, on how amounts could be transferred within federal agencies and departments for FY2013 to avoid all furloughs or reductions in force without increasing the federal deficit for that fiscal year.

Small Business Accounting and Tax Simplification Act

United States · United States Congress · 5 March 2013

Small Business Accounting and Tax Simplification Act - Amends the Internal Revenue Code to exempt certain small business taxpayers from the requirements of using the accrual method of accounting and of using inventories. Allows such taxpayers to use a cash method of accounting if they meet the gross receipts test and are not engaged in farming as a corporation. Increases the amount of the gross receipts test to $10 million (currently, $5 million) and permits an annual inflation adjustment of that amount.

Providing for consideration of the bill (H.R. 933) making appropriations for the Department of Defense, the Department of Veterans Affairs, and other departments and agencies for the fiscal year ending September 30, 2013, and for other purposes.

United States · United States Congress · 5 March 2013

Sets forth the rule for consideration of the bill (H.R. 933) making appropriations for the Department of Defense, the Department of Veterans Affairs, and other departments and agencies for the fiscal year ending September 30, 2013.