Taxation

Social Security Number Fraud and Identity Theft Prevention Act

United States · United States Congress · 28 February 2007

Social Security Number Fraud and Identity Theft Prevention Act - Amends the Immigration and Nationality Act to authorize the Secretary of the Department of Homeland Security (DHS), the Secretary of Labor, and the Attorney General to require an individual to provide the individual's Social Security account number for inclusion in any: (1) record of the individual maintained by either such Secretary or the Attorney General; or (2) any application, document, or form provided under or required by the immigration laws. (Currently, the Attorney General is authorized to require any alien to provide a Social Security account number for inclusion in any record maintained by the Attorney General or the Bureau of Citizenship and Immigration Services.) Requires the Commissioner of Social Security, if a Social Security account number has been used multiple times, to provide the DHS Secretary with information regarding: (1) the name, date of birth, and address of each individual who used the same Social Security account number; and (2) the name and address of the person reporting the earnings for each such individual. Requires the Commissioner to provide such information to the DHS Secretary, in an electronic form, if more than one person reports earnings for an individual during a single tax year. Directs the Commissioner, at the DHS Secretary's request and expense, to perform and report on a search or manipulation of Social Security Commission records if the Secretary certifies that the purpose is to obtain information likely to assist in identifying individuals (and their employers) who are: (1) using false names or Social Security account numbers; (2) sharing a single valid name and Social Security account number among multiple individuals; (3) using the Social Security account number of a person who is deceased, too young to work, or not authorized to work; or (4) otherwise engaged in a violation of the immigration laws. Declares inadmissible to receive visas and to be admitted to the United States any alien who falsely represents himself or herself to be a U.S. national for any purpose or benefit under immigration and nationality or any other federal or state law.

Strategic Energy Fund Act of 2007

United States · United States Congress · 28 February 2007

Strategic Energy Fund Act of 2007 - Amends the Internal Revenue Code to establish in the Treasury the Strategic Energy Fund to finance the energy conservation and research initiatives set forth by this Act. Increases the tax credits for: (1) investment in alternative fuel vehicle refueling property; (2) small ethanol producers of sucrose or cellulosic ethanol; and (3) investment in advanced coal projects. Extends tax credits for: (1) alcohol used as fuel through 2012; (2) electricity produced from certain renewable resources through 2013; and (3) solar energy property through 2014. Increases the number of hybrid and advanced lean burn technology vehicles eligible for the full amount of the tax credit for alternative motor vehicles. Extends through 2015: (1) the tax credits for biodiesel used as fuel, investment in fuel cell property, new energy efficient home expenditures; and (2) the tax deduction for energy efficient commercial property expenditures. Allows new tax credits for the manufacture of advanced technology motor vehicles, including plug-in hybrid vehicles and investment in small wind energy property. Directs the Administrator of the Environmental Protection Agency to establish a grant program for geological disposal deployment projects. Directs the Secretary of Energy to establish the position of Assistant Secretary for Advanced Energy Research, Technology Development, and Deployment to implement innovative programs for energy conservation. Imposes for taxable years beginning during 2007 or 2008 a 50% excise fee on the excess profit of certain integrated oil companies and producers or refiners of crude oil with gross receipts exceeding $100 million. Provides for the transfer of excise fees to the Strategic Energy Fund. Eliminates certain tax benefits for major oil companies, producers, or refiners, including: (1) the tax deductions for intangible drilling and development costs and for income attributable to domestic production of oil, natural gas, or related products; (2) accelerated amortization of geological and geophysical expenditures; and (3) the tax credit for enhanced oil recovery expenditures and certain foreign tax credits and deferrals. Grants the Secretary of the Interior authority to suspend royalty relief for lessees of federal oil-producing properties and to renegotiate leases based upon price thresholds for oil and natural gas. Places limits on depreciation of certain non-farm heavy passenger motor vehicles.

Commuter Benefits Equity Act of 2007

United States · United States Congress · 28 February 2007

Commuter Benefits Equity Act of 2007 - Amends the Internal Revenue Code to equalize and increase to $200, with a modified cost-of-living adjustment, the tax exclusion for both transportation and parking fringe benefits. Extends such benefits to federal employees.

Endangered Species Recovery Act of 2007

United States · United States Congress · 28 February 2007

Endangered Species Recovery Act of 2007- Amends the Internal Revenue Code to allow certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs relating to habitat protection easements and restoration. Places limits on the amount of such credit for calendar years 2008, 2009, 2010, 2011, and 2012. Directs the Comptroller General of the United States to study and report to Congress on the effectiveness of such credit. Allows a tax deduction for expenditures related to recovery plans approved by the Endangered Species Act of 1973. Excludes from gross income certain payments under: (1) the Partners for Fish and Wildlife Program authorized by the Partners for Fish and Wildlife Act; and (2) the Landowner Incentive Program, the State Wildlife Grants Program, and the Private Stewardship Grants Program authorized by the Fish and Wildlife Act of 1956.

Mitigating the Impact of Uncompensated Service and Time Act of 2007

United States · United States Congress · 28 February 2007

Mitigating the Impact of Uncompensated Service and Time Act of 2007 - Amends the Internal Revenue Code to allow certain physicians a bad debt tax deduction for their costs in providing uncompensated care as required under the Social Security Act to emergency room patients and pregnant women in labor.

EXPENSE Act of 2007

United States · United States Congress · 28 February 2007

Expensing Property Expands our Nation's Strong Economy Act of 2007 or the EXPENSE Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the limitations on the expensing of depreciable business assets; and (2) allow taxpers to elect a two-year recovery period for depreciable property.

SUPPLEMENTAL APPROPRIATIONS FOR FISCAL YEAR 2007

United States · United States Senate · 27 February 2007

AGRICULTURE, RURAL DEVELOPMENT, FOOD AND DRUG ADMINISTRATION AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2008

United States · United States Senate · 27 February 2007

PROPOSED FISCAL YEAR 2008 BUDGET REQUEST FOR THE DEPARTMENT OF INTERIOR'S OFFICE OF INSULAR AFFAIRS

United States · United States House of Representatives · 27 February 2007

Good Samaritan Hunger Relief Tax Incentive Extension Act of 2007

United States · United States Congress · 27 February 2007

Good Samaritan Hunger Relief Tax Incentive Extension Act of 2007 - Amends the Internal Revenue Code to modify the tax deduction for charitable contributions of food inventory by allowing a fair market valuation of the contributed food and by making such deduction permanent.

Commercial Fishermen Safety Act of 2007

United States · United States Congress · 27 February 2007

Commercial Fishermen Safety Act of 2007 - Amends the Internal Revenue Code to allow commercial fishermen a business tax credit for up to 75 percent of the cost of certain fishing safety equipment. Limits the annual amount of such credit to $1,500.

Corporate Charitable Disclosure Act of 2007

United States · United States Congress · 27 February 2007

Corporate Charitable Disclosure Act of 2007 - Amends the Securities and Exchange Act of 1934 to require disclosure of: (1) corporate charitable contributions whose value exceeds what the issuer made during the previous year to any nonprofit organization of which a director, officer, or controlling person of the issuer (or a spouse) was a director or trustee (insider affiliated charity); (2) the name of such nonprofit organization and the value of the contribution; (3) the total value of contributions made by the issuer to nonprofit organizations during its previous fiscal year; and (4) the organization name and the value of contributions if the value to any one organization exceeds the amount designated by Securities and Exchange Commission rule.

Intelligence Authorization Act for Fiscal Year 2007

United States · United States Congress · 27 February 2007

Intelligence Authorization Act for Fiscal Year 2007 - Authorizes appropriations for FY2007 for the conduct of intelligence and intelligence-related activities of the: (1) Office of the Director of National Intelligence; (2) Central Intelligence Agency (CIA); (3) Department of Defense (DOD); (4) Defense Intelligence Agency (DIA); (5) National Security Agency (NSA); (6) Departments of the Army, Navy, and Air Force; (7) Departments of State, the Treasury, Energy, and Justice; (8) Federal Bureau of Investigation (FBI); (9) National Reconnaissance Office; (10) National Geospatial-Intelligence Agency; (11) Coast Guard; (12) Department of Homeland Security; and (13) Drug Enforcement Administration (DEA). Specifies that the amounts authorized and the authorized personnel ceilings as of September 30, 2007, for such activities are those specified in the classified Schedule of Authorizations, which shall be made available to the Senate and House Appropriations Committees and the President. Allows the Director of Central Intelligence, with the approval of the Director of the Office of Management and Budget, to authorize employment of civilian personnel in excess of the number authorized for FY2007 when necessary for the performance of important intelligence functions. Requires notification of the congressional intelligence committees on the use of such authority. Authorizes appropriations for the Intelligence Community Management Account for FY2007, as well as for full-time personnel for elements within such Account. Authorizes appropriations for FY2007 for the Central Intelligence Agency Retirement and Disability Fund. Specifies that the authorization of appropriations by this Act shall not be deemed to constitute authority for the conduct of any intelligence activity which is not otherwise authorized by the Constitution of laws of the United States.

REWARD Act of 2007

United States · United States Congress · 27 February 2007

Ready Employers Willing to Assist Reservists' Deployment Act of 2007 or the REWARD Act of 2007 - Amends the Internal Revenue Code to allow employers a tax credit for 50% of the wages paid to their employees on active military duty for more than 90 days as Ready Reserve or National Guard and for 50% of the wages paid to temporary replacement employees.

527 Transparency Act of 2007

United States · United States Congress · 27 February 2007

527 Transparency Act of 2007 - Amends the Internal Revenue Code to revise disclosure requirements for tax-exempt political organizations (527 organizations) to require monthly reporting of contributions and expenditures. Imposes a penalty tax on political organizations that fail to meet disclosure requirements. Denies a gift tax exclusion for donations to political organizations that fail to meet disclosure requirements. Requires political organizations to file disclosure reports simultaneously with the Secretary of the Treasury and the Federal Election Commission (FEC).

Telephone Excise Tax Repeal Act of 2007

United States · United States Congress · 27 February 2007

Telephone Excise Tax Repeal Act of 2007 - Amends the Internal Revenue Code to repeal the excise tax on communication services (i.e., local telephone service, toll telephone service, and teletypewriter exchange service).

CAFO Tax Credit Act of 2007

United States · United States Congress · 27 February 2007

CAFO Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow owners or operators of a concentrated animal feeding operation a business-related tax credit, up to $500,000 in a taxable year, for the cost of compliance with a national pollutant discharge elimination system permit issued under the Federal Water Pollution Control Act. Terminates such credit after 2014.

To amend the Internal Revenue Code of 1986 to impose an excise tax on any tax-exempt organization which accepts any contribution which may be used to relocate property held by the organization if the relocation is contrary to the intent of the donor of the property.

United States · United States Congress · 27 February 2007

Amends the Internal Revenue Code to impose an excise tax penalty on contributions received by a tax-exempt charitable organization used to relocate donated property contrary to the intent of the donor of such property. Allows an exemption from such penalty if a court determines that the relocation is the only viable alternative to preserve and protect the property.

To authorize the National Park Service to pay for services rendered by subcontractors under a General Services Administration Indefinite Deliver/Indefinite Quantity Contract issued for work to be completed at the Grand Canyon National Park.

United States · United States Congress · 27 February 2007

Authorizes the Secretary of the Interior to pay the amount owed to the subcontractors of Pacific General, Inc., for work performed at the Grand Canyon National Park between fiscal years 2002 and 2003 under a General Services Administration (GSA) indefinite deliver/indefinite quantity contract.

American Health Security Act of 2007

United States · United States Congress · 27 February 2007

American Health Security Act of 2007 - Establishes the State-Based American Health Security Program to provide every U.S. resident who is a U.S. citizen, national, or lawful resident alien with health care services. Requires each participating state to establish a state health security program. Eliminates benefits under: (1) titles XVIII (Medicare), XIX (Medicaid), and XXI (State Children's Health Insurance) (SCHIP) of the Social Security Act; (2) the Federal Employees Health Benefits Program; and (3) the Civilian Health and Medical Program of the Uniformed Services (CHAMPUS). Requires each state health security program to prohibit the sale of health insurance in that state that duplicates benefits provided under the program. Establishes the American Health Security Standards Board to: (1) develop policies, procedures, guidelines and requirements to carry out this Act; (2) establish uniform reporting requirements; (3) provide for an American Health Security Advisory Council and an Advisory Committee on Health Professional Education; and (4) establish a national health security budget specifying the total Federal and State expenditures to be made for covered health care services. Establishes the American Health Security Quality Council to: (1) review and evaluate practice guidelines, standards of quality, performance measures, and medical review criteria; and (2) develop minimum competence criteria. Establishes the Office of Primary Care and Prevention Research within the Office of the Director of the National Institutes of Health (NIH). Amends the Internal Revenue Code to create the American Health Security Trust Fund and appropriates to the Fund specified tax liabilities and current health program receipts.

Proposing an amendment to the Constitution of the United States to authorize the line item veto.

United States · United States Congress · 27 February 2007

Constitutional Amendment - Authorizes the President, in the case of any bill, order, resolution, or vote presented by the House of Representatives and the Senate, to decline to approve in whole any dollar amount of discretionary budget authority, any item of new direct spending, or any tax benefit.

FIELD HEARINGS FOR FISCAL YEAR 2008

United States · United States Senate · 20 February 2007

Stop Tax Haven Abuse Act

United States · United States Congress · 17 February 2007

Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; and (5) disallow tax advisor opinions validating transactions in offshore secrecy jurisdictions. Amends the Securities Exchange Act of 1934 and other federal enactments to impose a penalty for failure to disclose holdings or transactions involving a foreign entity. Requires the Secretary of the Treasury to publish a final rule requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs and to submit suspicious activity reports. Modifies requirements for certain third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (John Doe summons). Increases penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability. Prohibits tax advisor contingent fee agreements for obtaining tax savings or benefits. Allows increased disclosure of tax information for enforcement purposes. Directs the Secretary to impose standards for written tax opinions by tax practitioners. Denies tax deductions for certain fines and penalties for violations of law and for interest paid on certain understatements of tax. Sets forth rules for the application of the economic substance doctrine and imposes penalties for underpayments of tax due to transactions lacking economic substance.

Rural Wind Energy Development Act

United States · United States Congress · 16 February 2007

Rural Wind Energy Development Act - Amends the Internal Revenue Code to allow: (1) a tax credit for the installation of wind energy property; and (2) an accelerated depreciation allowance for such property.

Oil Industry Tax Break Repeal Act of 2007

United States · United States Congress · 16 February 2007

Oil Industry Tax Break Repeal Act of 2007 - Amends the Internal Revenue Code to: (1) increase the amortization period for the geological and geophysical expenditures of certain large integrated oil companies (defined as having an average daily worldwide crude oil production level of at least 500,000 barrels and more than $1 billion in gross receipts) from five to seven years; (2) limit the oil depletion allowance; (3) terminate accelerated depreciation of natural gas distribution lines and Alaska natural gas pipelines, expensing of equipment used in refining of liquid fuels, the tax deduction for intangible drilling and development costs, and the tax credits for enhanced oil recovery and for producing oil and gas from marginal wells; (4) classify natural gas gathering lines as 15-year property for depreciation purposes; and (5) deny large integrated oil companies the tax deduction for income attributable to the domestic production of oil, natural gas, or related products. Requires large integrated oil companies to revalue their LIFO inventories of crude oil, natural gas, or other petroleum products according to a specified formula. Denies such oil companies a foreign tax credit for payments to certain foreign countries from which they receive a specified economic benefit as a dual capacity taxpayer. Establishes in the Treasury the Energy Trust Fund and directs the transfer to such Fund of revenues resulting from the repeal of oil industry tax benefits by this Act.

Rural Community Renewable Energy Bonds Act

United States · United States Congress · 16 February 2007

Rural Community Renewable Energy Bonds Act - Amends the Internal Revenue Code to allow the issuance of tax-exempt facility bonds to finance qualified renewable energy facilities (facilities using wind, biomass, solar power, hydropower and other renewable sources to produce electricity).

Student Achievement and Successful Schools Act of 2007

United States · United States Congress · 16 February 2007

Student Achievement and Successful Schools Act of 2007 - Expresses the sense of Congress that: (1) full funding should be provided to schools to allow them to satisfy federal mandates required under the No Child Left Behind Act of 2001 (NCLBA), which amended the Elementary and Secondary Education Act of 1965 (ESEA); and (2) states and school districts should have the necessary flexibility in implementing NCLBA to ensure that all students are successful and achieve all of the goals of the law. Amends ESEA to revise requirements relating to: (1) adequate yearly progress (AYP); (2) measurements of student achievement, allowing such measurements to be made on a longitudinal basis; (3) supplemental educational services; (4) deadlines for evaluating teachers and paraprofessionals as highly qualified; and (5) the process by which teachers of multiple subjects may demonstrate such competence. Directs the Secretary of Education to: (1) allocate federal funds to pay for administrative costs of demonstrating AYP and for paraprofessional training; and (2) make performance bonus grants to eligible states for non-administrative functions by schools that have closed achievement gaps to a certain degree between specified subgroups. Authorizes state and local educational agencies and schools to defer implementation of certain ESEA requirements in any fiscal year when the amount appropriated under ESEA and the Individuals with Disabilities Act does not equal or exceed a specified authorized amount. Directs the Comptroller General to study and report on certain topics concerning how costs of NCLBA mandates may affect adequate funding for ESEA.

At-Risk Youth Protection Act of 2007

United States · United States Congress · 16 February 2007

At-Risk Youth Protection Act of 2007 - Authorizes the Secretary of Education to make grants to states for subgrants to alternative public schools or programs that serve the needs of students at risk of educational failure. Requires subgrantees to require their secondary school students to perform at least 100 hours of community service each school year and receive training or counseling on conflict resolution as a prerequisite to performing such service. Amends the Internal Revenue Code to provide a tax deduction to a business of: (1) $750 per 100 hours of community service provided by such a student through such business during the taxable year; and (2) $2,000 for each graduate of such alternative school or program who completes one year of employment with such business.

Freedom through Renewable Energy Expansion (FREE) Act

United States · United States Congress · 16 February 2007

Freedom through Renewable Energy Expansion (FREE) Act - Amends the Energy Policy Act of 2005 to repeal provisions regarding: (1) the next generation nuclear plant project; (2) standby support for certain nuclear plant delays; and (3) incentives for oil and gas production from federal lands. Amends the Internal Revenue Code (IRC) to repeal: (1) the credit for production from advanced nuclear power facilities; (2) the election to expense certain refineries; (3) treatment of natural gas distribution lines as 15-year property; (4) treatment of natural gas gathering lines as seven-year property; (5) the rule for determining the small refiner exception to the oil depletion deduction; and (6) the amortization of geological and geophysical expenditures. Amends the Outer Continental Shelf Lands Act and the Naval Petroleum Reserves Production Act of 1976 to repeal the suspension of: (1) offshore royalties pertaining to the Planning Areas offshore Alaska; and (2) the royalty with respect to the national petroleum reserve in Alaska. Sets forth price thresholds for royalty suspension provisions affecting leases in Central and Western Gulf of Mexico. States that Congress reaffirms the authority of the Secretary of the Interior to vary, based on the price of production from an oil lease, the suspension of royalties (in effect, impose price thresholds for certain lease sales) under any lease subject to the Outer Continental Shelf Deep Water Royalty Relief Act. Sets forth prerequisites for issuance of new leases in the Gulf of Mexico, and for lease transfers. Directs the Secretary of the Interior to establish conservation of resources fees for federal oil and gas leases in the Gulf of Mexico. Amends federal transportation law to direct the Secretary of Transportation to promulgate certain average fuel economy standards for passenger automobiles manufactured after model year 2009. Amends the IRC to extend the credit for: (1) renewable electricity production; (2) solar energy property, qualified fuel cell property, and geothermal property; and (3) residential energy efficient property. Allows a tax credit for wind energy property installed in residences and businesses. Authorizes appropriations for geothermal research. Amends the Public Utility Regulatory Policies Act of 1978 to prescribe a federal renewable portfolio standard. Amends the Energy Policy Act of 2005 to revise certain federal energy purchase requirements. Instructs the Secretary of Energy to establish a grant program for local schools and school districts to promote the use of renewable energy sources in school facilities.

Kids Come First Act of 2007

United States · United States Congress · 16 February 2007

Kids Come First Act of 2007 - Amends title XIX of the Social Security Act (SSA) to give states the option to receive 100% Federal Medicaid Assistance Percentages (FMAPs) for medical assistance for children in poverty in exchange for expanded coverage of children in working poor families under Medicaid (SSA title XIX) or SCHIP (SSA title XXI (State Children's Health Insurance)). Eliminates the cap on SCHIP funding for states that expand eligibility for children. Gives states the option to: (1) provide wrap-around SCHIP coverage to children who have other health coverage; (2) enroll low-income children of state employees in SCHIP; (3) provide optional coverage of legal immigrant children under Medicaid and SCHIP; and (4) provide for passive renewal of eligibility for children under Medicaid and SCHIP. Amends the Internal Revenue Code to provide for: (1) a refundable income tax credit for health insurance coverage of children; and (2) forfeiture of the personal tax exemption for any child not covered by health insurance. Amends the Employee Retirement Income Security Act of 1974 and the Public Health Service Act to require group market health insurers to offer a dependent coverage option for workers and other individuals with children.

To provide for a temporary increase in the number of Iraqi and Afghan translators in the United States Armed Forces who may be provided status as special immigrants.

United States · United States Congress · 16 February 2007

Amends the National Defense Authorization Act for Fiscal Year 2006 to increase from 50 to 300, for FY2007-FY2009 only, the number of Iraqi and Afghan translators working directly with U.S. Armed Forces who may be provided special immigrant status under the Immigration and Nationality Act.

REIT Investment Diversification and Empowerment Act of 2007

United States · United States Congress · 16 February 2007

REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.

Government Waste Reduction Act of 2007

United States · United States Congress · 16 February 2007

Government Waste Reduction Act of 2007 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend discretionary spending limits through FY2012. Repeals requirements for inclusion in a sequestration report of adjustments to discretionary limits for: (1) continuing disability reviews by the Social Security Administration; (2) specified allowances for the International Monetary Fund and international arrearages; (3) any earned income tax credit compliance initiative; (4) adoption incentive payments; and (5) conservation spending. Requires an adjustment to discretionary spending limits equal to the estimated resulting reduction in mandatory budget authority and outlays utilizing accrual methods, if enacted legislation charges federal agencies for the full cost of accrued federal retirement and health benefits, and an appropriations Act provides new budget authority to carry out such legislation. Revises PAYGO requirements to remove receipts from the requirement that any legislation enacted before FY2013 affecting direct spending (currently, direct spending or receipts) that increases the deficit will trigger an offsetting sequestration. Revises the formula for calculating the amount of deficit increase or decrease by the Office of Management and Budget (OMB). Requires OMB to assume an automatic deficit increase of $33.485 billion before making such calculations for FY2008. Repeals the cap on the amount by which Medicare programs must be reduced. States that, with respect to eliminating a deficit increase, accounts shall be assumed to be at the level in the baseline (as under current law) for FY2009, but for FY2010-FY2013 at the baseline only after adjusting for any sequester in FY2008. Repeals the exemption of agricultural crop disaster assistance from the application of emergency legislation requirements (thus including agricultural crop disaster assistance as direct spending the President may designate as an emergency requirement). Revises the definition of baseline to exclude emergency appropriations and legislation. Prohibits such emergency appropriations and legislation from being extended in the baseline. Amends the Congressional Budget Act of 1974 to require that the committee report and any statement of managers accompanying proposed legislation analyze whether a proposed emergency requirement meets a specified definition of "emergency." Prohibits the consideration of any such legislation that does not meet this "emergency" definition.

To amend the Internal Revenue Code of 1986 to allow section 1031 treatment for exchanges involving certain mutual ditch, reservoir, or irrigation company stock.

United States · United States Congress · 16 February 2007

Amends the Internal Revenue Code to allow tax-free exchanges of shares in certain mutual ditch, reservoir, or irrigation companies.

Open Space Preservation Promotion Act of 2007

United States · United States Congress · 16 February 2007

Open Space Preservation Promotion Act of 2007 - Amends the Internal Revenue Code to allow installment sales treatment for land sold to a governmental unit or tax-exempt charitable organization for conservation purposes even though the purchase funds for such sale are held in a sinking or similar fund, as required by state law.

Emergency Spending Control Act of 2007

United States · United States Congress · 16 February 2007

Emergency Spending Control Act of 2007 - Amends the Congressional Budget Act of 1974 (CBA) to revise the contents of the annual concurrent resolution on the budget (eliminating certain matters in an effort to keep such resolution to one page). Requires the report accompanying the budget resolution to include: (1) new budget authority and outlays for each major functional category, based on allocations of the total levels set forth in the resolution; and (2) with respect to each major functional category, an estimate of total new budget authority and total outlays, with the estimates divided between discretionary and direct (currently, mandatory) spending amounts. Allows reconciliation directives to be included in the report. Modifies the President's budget request to Congress to eliminate most current requirements and include only: (1) totals of new budget authority and outlays; (2) total federal revenues and the amount, if any, by which their aggregate level should be increased or decreased by bills and resolutions to be reported by the appropriate committees; (3) the surplus or deficit in the budget; (4) subtotals of new budget authority and outlays for nondefense and defense discretionary spending, direct spending (excluding interest), interest, and emergencies (for the reserve fund and for military operations in the Act); (5) the public debt; and (6) as a separately delineated statement, the levels required in (1) through (5) for at least each of the four ensuing fiscal years. Repeals sequestration requirements of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) regarding: (1) adjustments for emergency appropriations (except those covering agricultural crop disaster assistance); (2) emergency legislation; and (3) the scope of estimates of such legislation. Eliminates adjustments of appropriations designated as emergency requirements under the CBA. Amends the Congressional Budget and Impoundment Control Act of 1974 to define "emergency" as an unanticipated situation that requires new budget authority and outlays (or new budget authority and the outlays flowing therefrom) for the prevention or mitigation of, or response to, loss of life or property, or a threat to national security. Amends the CBA to set forth requirements with respect to: (1) the President's budget request for reserve funds for emergencies; (2) treatment of emergency legislation to fund both nonmilitary emergencies and certain military operations; and (3) committee notification of any emergency legislation. Prohibits floor amendments to amendments reported by the Committee on the Budget (or from the consideration of which the Committee has been discharged) with respect to legislation for emergency reserve funds for certain military operations. Requires congressional summary budget scorekeeping reports to include an up-to-date tabulation of amounts remaining in the reserve fund for emergencies.

Stealth Tax Relief Extension Act of 2007

United States · United States Congress · 16 February 2007

Stealth Tax Relief Extension Act of 2007 - Amends the Internal Revenue Code to: (1) increase the exemption from the alternative minimum tax for individual taxpayers in 2007; and (2) extend through 2007 the allowance of certain nonrefundable tax credits against alternative minimum tax liability.

To amend the Internal Revenue Code of 1986 to allow Federal civilian and military retirees to pay health insurance premiums on a pretax basis and to allow a deduction for TRICARE supplemental premiums.

United States · United States Congress · 16 February 2007

Amends the Internal Revenue Code to permit: (1) federal civilian and military retirees to pay Federal Employees Health Benefits Program (FEHBP) and TRICARE supplemental premiums on a pretax basis (i.e., exclude premiums from gross income); and (2) a tax deduction (available to itemizers and nonitemizers) for TRICARE supplemental premiums or enrollment fees. Directs the Director of the Office of Personnel Management (OPM) and the Secretary of Defense to ensure that the option of paying FEHBP and TRICARE supplemental premiums on a pretax basis is available to federal civilian and military retirees for the first open enrollment period beginning not less than 90 days after the enactment of this Act.

[H.A.S.C. No. 110-20]FISCAL YEAR 2008 NATIONAL DEFENSE AUTHORIZATION ACT--BUDGET REQUEST ON OVERVIEW OF RECRUITING AND RETENTION STATEMENTS PRESENTED BY MEMBERS OF CONGRESS

United States · United States House of Representatives · 15 February 2007

U.S. DEPARTMENT OF AGRICULTURE FISCAL YEAR 2008 BUDGET PRIORITIES

United States · United States House of Representatives · 15 February 2007

THE NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY'S ROLE IN SUPPORTING ECONOMIC COMPETITIVENESS IN THE 21ST CENTURY: THE FISCAL YEAR 2008 BUDGET REQUEST

United States · United States House of Representatives · 15 February 2007

FISCAL YEAR 2008 BUDGET

United States · United States Senate · 15 February 2007

PROPOSED FISCAL YEAR 2008 BUDGET REQUEST FOR THE DEPARTMENT OF THE INTERIOR

United States · United States Senate · 15 February 2007

Reduce Wasteful Tax Forms Act of 2007

United States · United States Congress · 15 February 2007

Reduce Wasteful Tax Forms Act of 2007 - Amends the Internal Revenue Code to extend until February 15 the annual deadline for reporting certain investment income to the Internal Revenue Service.

National Guard and Reserve Retirement Modernization Act

United States · United States Congress · 15 February 2007

National Guard and Reserve Retirement Modernization Act - Amends federal law concerning receipt of retired pay for non-regular service to provide that, in the case of a member of the Ready Reserve who serves on active duty after September 11, 2001, in support of a contingency operation or in response to a national emergency, retirement eligibility age shall be reduced below 60 by three months for each aggregate of 90 days during which the member so performs in any fiscal year after such date. Prohibits such retirement eligibility date from being reduced below age 50. Continues age 60 as the minimum eligibility age for DOD-authorized health care for such retirees.

Collegiate Housing and Infrastructure Act of 2007

United States · United States Congress · 15 February 2007

Collegiate Housing and Infrastructure Act of 2007 - Amends the Internal Revenue Code to allow tax-exempt charitable or educational organizations to make collegiate housing and infrastructure improvement grants to certain tax-exempt social clubs (e.g., college fraternities and sororities) so long as all of the active members of such clubs are full-time students at the college or university with which such clubs are associated. Defines "collegiate housing and infrastructure grants" to include grants to provide, improve, operate, or maintain collegiate housing.

Middle Class Opportunity Act of 2007

United States · United States Congress · 15 February 2007

Middle Class Opportunity Act of 2007 - Amends the Internal Revenue Code to: (1) increase the child tax credit for the first year in which a child is claimed as a qualifying child; (2) expand eligibility for the dependent care tax credit and allow such credit for expenses to care for parents (and ancestors of such parents) not residing with the taxpayer; and (3) provide for an increased alternative minimum tax exemption amount through 2008 Replaces the Hope and Lifetime Learning tax credits with an expanded education tax credit which provides for a 100% education tax credit for qualified tuition and related expenses (including a certain allowance for books) up to $1,000, 50% for such expenses between $1,000 and $3,000, and 20% of such expense between 3,000 and $5,500. Reduces credit amounts for taxpayers with modified adjusted gross incomes over $70,000 ($140,000 in the case of a joint tax return). Allows an inflation adjustment to credit amounts beginning after 2008. Limits such credit to three eligible students per taxpayer in any taxable year and for four taxable years. Denies such credit for certain part-time students and for students convicted of a felony drug offense. Repeals the tax deduction for qualified tuition and related expenses.

To amend the High-Performance Computing Act of 1991.

United States · United States Congress · 15 February 2007

Amends the High-Performance Computing Act of 1991 to revise program requirements for the National High-Performance Computing Program. Requires the Director of the Office of Science and Technology Policy to: (1) establish the goals and priorities for federal high-performance computing research, development, networking, and other activities; (2) establish Program Component Areas that implement such goals and identify the Grand Challenges (i.e., fundamental problems in science or engineering, with broad economic and scientific impact, whose solutions will require the application of high-performance computing resources) that the Program should address; and (3) develop and maintain a research, development, and deployment road map for the provision of high-performance computing systems. Requires the advisory committee on high-performance computing to conduct periodic evaluations of the funding, management, coordination, implementation, and activities of the Program, and report at least once every two fiscal years to specified congressional committees. Prohibits applying provisions for the termination, renewal, and continuation of federal advisory committees under the Federal Advisory Committee Act to such advisory committee.

Strengthening America's Military Families Act of 2007

United States · United States Congress · 15 February 2007

Strengthening America's Military Families Act of 2007 - Amends the Internal Revenue Code to allow spouses of members of the Armed Forces to exclude from their gross income an amount equal to that amount which such members are able to exclude as combat zone compensation.

Law Enforcement Officers Equity Act

United States · United States Congress · 15 February 2007

Law Enforcement Officers Equity Act - Amends the definition of the term "law enforcement officer" under provisions of the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS) to include: (1) federal employees not otherwise covered by such term whose duties include the investigation or apprehension of suspected or convicted individuals and who are authorized to carry a firearm; and (2) such employees of the Internal Revenue Service (IRS) whose duties are primarily the collection of delinquent taxes and the securing of delinquent returns. Requires such service that is performed by an incumbent law enforcement officer: (1) after enactment of this Act to be treated as service performed as a law enforcement officer for federal retirement purposes; and (2) before, on, or after enactment as service performed as such an officer for federal retirement purposes only if an appropriate written election is submitted to the Office of Personnel Management (OPM) within five years after enactment or before separation from government service, whichever is earlier. Provides that nothing under current law respecting mandatory separation from government service under CSRS or FERS shall cause the involuntary separation of an officer before the end of the three-year period following enactment.