Taxation

THE PRESIDENT'S BUDGET FOR FISCAL YEAR 2006

United States · United States House of Representatives · 8 February 2005

PRESIDENT'S FISCAL YEAR 2006 BUDGET WITH U.S. DEPARTMENT OF THE TREASURY SECRETARY JOHN SNOW

United States · United States House of Representatives · 8 February 2005

DEPARTMENT OF THE INTERIOR AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2006

United States · United States Senate · 8 February 2005

Child Support Distribution Act of 2005

United States · United States Congress · 8 February 2005

Child Support Distribution Act of 2005 - Amends title IV part D (Child Support and Establishment of Paternity) of the Social Security Act (SSA) to revise requirements for: (1) denial of assistance to families that do not assign certain support rights to the State; and (2) the distribution of child support collected by States on behalf of children receiving certain welfare benefits. Reduces from $5,000 to $2,500 the amount of child support arrearage which shall trigger denial of a passport. Revises requirements for the use of the tax refund intercept program to collect past-due child support on behalf of non-minor children. Prohibits garnishment of certain compensation for a service-connected disability paid to a former member of the Armed Forces for: (1) alimony; or (2) child support less than 60 days in arrears. Permits no more than 50 percent of such compensation to be garnished to pay for such child support. Provides for mandatory review and adjustment of child support orders for families receiving TANF. Requires the Secretary to disclose new hire information to a State to assist in the administration of unemployment compensation programs. Provides for a payment rate increase to States for short term training of staff of State-licensed or State-approved child welfare agencies providing services.

A bill to amend the Internal Revenue Code of 1986 to provide that reimbursements for costs of using passenger automobiles for charitable and other organizations are excluded from gross income, and for other purposes.

United States · United States Congress · 8 February 2005

Amends the Internal Revenue to provide that volunteers who use their automobiles for the benefit of a charitable organization may exclude from their gross income reimbursements for their automobile operating expenses at the same level as business employees (i.e. 40.5 cents per mile). Increases criminal sanctions and monetary penalties for: (1) underpayments or overpayments of tax due to fraud; (2) attempts to evade or defeat tax; (3) willful failure to file tax returns, supply information, or pay tax; and (4) fraud and false statements.

Nunn-Lugar Cooperative Threat Reduction Act of 2005

United States · United States Congress · 8 February 2005

Nunn-Lugar Cooperative Threat Reduction Act of 2005 - Amends the Soviet Nuclear Threat Reduction Act of 1991, the Cooperative Threat Reduction Act of 1993, and the National Defense Authorization Act for Fiscal Year 2000, respectively, to repeal specified restrictions on the use of Cooperative Threat Reduction program (program) funds and activities. Amends the the National Defense Authorization Act for Fiscal Year 2004 to modify authority to use program funds outside the former Soviet Union, including transferring such authority from the President to the Secretary of Defense. Directs the Secretary of State to report on each country in which a program is being carried out, including its adherence to arms control and nonproliferation agreements.

A bill to amend the Internal Revenue Code of 1986 to provide for the disposition of unused health benefits in cafeteria plans and flexible spending arrangements.

United States · United States Congress · 8 February 2005

Amends the Internal Revenue Code to permit up to $500 of unused health benefits in a plan or other arrangement that provides for a health flexible spending arrangement to be carried forward to the next year of such health flexible spending arrangement or be contributed to a health savings account without affecting the status of such plan or arrangement as a tax-exempt employee benefit cafeteria plan.

Expanded and Improved Medicare for All Act

United States · United States Congress · 8 February 2005

United States National Health Insurance Act (or the Expanded and Improved Medicare for All Act) - Establishes the United States National Health Insurance Program (the Program) to provide all individuals residing in the United States and in U.S. territories with free health care that includes all medically necessary care, such as primary care and prevention, prescription drugs, emergency care, and mental health services. Prohibits an institution from participating in the Program unless it is a public or nonprofit institution. Allows nonprofit health maintenance organizations (HMOs) that actually deliver care in their own facilities to participate in the Program. Gives patients the freedom to choose from participating physicians and institutions. Prohibits a private health insurer from selling health insurance coverage that duplicates the benefits provided under this Act. Allows such insurers to sell benefits that are not medically necessary, such as cosmetic surgery benefits. Sets forth methods to pay hospitals and health professionals for services. Prohibits financial incentives between HMOs and physicians based on utilization. Authorizes appropriations and provides for appropriated sums to be paid for: (1) by vastly reducing paperwork; (2) by requiring a rational bulk procurement of medications; (3) from existing sources of Government revenues for health care; (4) by increasing personal income taxes on the top five percent income earners; (5) by instituting a modest payroll tax; and (6) by instituting a small tax on stock and bond transactions. Requires the Program to give first priority in retraining and job placement to individuals whose jobs are eliminated due to reduced administration. Establishes a National Board of Universal Quality and Access to advise the Secretary and the Director to ensure quality, access, and affordability. Provides for the eventual integration of the health programs of the Department of Veterans' Affairs and the Indian Health Service into the Program.

NAFTA-Impacted Communities Relief Act

United States · United States Congress · 8 February 2005

NAFTA-Impacted Communities Relief Act - Amends the Internal Revenue Code to: (1) provide for the designation of communities as impacted by the North American Free Trade Agreement (NAFTA) based upon job loss and unemployment resulting from NAFTA; (2) allow employers in such NAFTA-impacted communities a business tax credit for up to 8.5 percent of wages paid to employees; (3) increase depreciation expensing levels for business assets located in NAFTA-impacted communities; and (4) direct the Secretary of Labor to provide grants to States containing NAFTA-impacted communities for education and job training assistance.

To designate Poland as a program country under the visa waiver program established under section 217 of the Immigration and Nationality Act, subject to special conditions.

United States · United States Congress · 8 February 2005

Temporarily designates Poland as a program country for purposes of the Immigration and Nationality Act's visa waiver program (VWP), notwithstanding designation requirements of current law. Requires the Secretary of Homeland Security to determine the nonimmigrant visa overstay rate for Polish nationals for the elapsed period of temporary designation and, based on such calculation, to determine whether Poland shall be designated permanently but conditionally for VWP purposes. States that, if permanently but conditionally designated, Poland shall remain a VWP country as long as the annual overstay rate remains below three percent. Requires the Secretary to: (1) suspend VWP designation for one year if the overstay rate exceeds three percent; and (2) terminate VWP designation if the overstay rate exceeds three percent for any two fiscal years, with the possibility of redesignation.

Flu Protection Act of 2005

United States · United States Congress · 8 February 2005

Flu Protection Act of 2005 - Amends the Public Health Act to require the Secretary of Health and Human Services, acting through the Director of the Centers for Disease Control and Prevention (CDC), to conduct, annually, a public influenza awareness campaign and education and outreach efforts preceding the flu season. Requires the Administrator of the Centers for Medicare & Medicaid Services to urge early and full preordering of the influenza vaccine by Medicare providers. Requires the Director to: (1) work with the Administrator to publish influenza immunization rates among Medicare recipients; (2) support the development of State adult immunization programs that emphasize improving influenza vaccine delivery to high-risk populations and the general population; and (3) work with appropriate agencies to assess the efficacy of the influenza vaccine. Amends the Internal Revenue Code to establish a vaccine manufacturing facilities investment tax credit (20 percent of qualifying property per year) for property placed in service by December 31, 2009. Requires the Director to: (1) enter into contracts with manufacturers to produce additional necessary doses of the influenza vaccine; and (2) develop a contingency plan for maximizing influenza immunization for high-risk populations in the event of a delay or shortage of the vaccine. Requires the Secretary, acting through the Director, to establish a protocol to prevent, prepare for, and respond to an influenza pandemic or epidemic. Requires a manufacturer that receives Federal authority to distribute a vaccine to provide the Department of Health and Human Services (HHS) with advance notice of such manufacturer's intent to stop marketplace distribution of the vaccine.

Renewable Energy Production Incentive Reform Act

United States · United States Congress · 8 February 2005

Renewable Energy Production Incentive Reform Act - Amends the Energy Policy Act of 1992 to modify renewable energy production incentive payment guidelines to provide that if there are insufficient appropriations to make full payments for electric production from all qualified renewable energy facilities in any given year, the Secretary of Energy shall assign 60 percent of appropriated funds for that year to facilities that use solar, wind, geothermal, or closed-loop (dedicated energy crops) biomass technologies to generate electricity, and assign the remaining 40 percent to other projects. Redefines a qualified renewable energy facility as one: (1) owned by certain tax-exempt electricity-generating cooperatives, certain public utilities, a State, territorial, or local governments or an Indian tribal government; and (2) which may involve electricity generation by landfill gas. Extends through FY 2015 the deadline for first use of a facility eligible for incentive payments.

Social Security Truth in Budgeting Act of 2005

United States · United States Congress · 8 February 2005

Social Security Truth in Budgeting Act of 2005 - Amends title II (Old Age, Survivors and Disability Insurance) 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 and Congressional Budget Office budget pronouncements.

Agricultural Bond Improvement Act of 2005

United States · United States Congress · 8 February 2005

Agricultural Bond Improvement Act of 2005 - Amends the Internal Revenue Code to: (1) exempt agricultural bonds from the volume cap applicable to private activity bonds; (2) permit a Federal guarantee of an agricultural bond under the Consolidated Farm and Rural Development Act without a loss of tax exemption; (3) increase the loan limit on agricultural bonds to $450,000 and index such amount for inflation after 2005; and (4) eliminate the dollar limitation in the definition of substantial farmland used for agricultural bonds.

Guardsmen and Reservists Financial Relief Act of 2005

United States · United States Congress · 8 February 2005

Guardsmen and Reservists Financial Relief Act of 2005 - Amends the Internal Revenue Code to exempt from the ten percent penalty on early distributions from tax-exempt retirement plans, withdrawals made by military reservists or national guardsmen called to active duty for a period in excess of 179 days or for an indefinite period. Permits reimbursement of such withdrawals within two years after the end of the active duty period. Applies the provisions of this Act to individuals ordered or called to active duty after September 11, 2001, and before September 12, 2007, for retirement plan distributions made after September 11, 2001.

Family Farm Preservation Act of 2005

United States · United States Congress · 8 February 2005

Family Farm Preservation Act of 2005 - Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of qualified farmland development rights to a tax-exempt conservation organization. Defines "qualified farmland development rights" as a restriction limiting farmland to use as a farm for farming purposes or for exclusively conservation purposes.

Fuel Tax Equalization Credit for Substantial Power Takeoff Vehicles Act of 2005

United States · United States Congress · 8 February 2005

Fuel Tax Equalization Credit for Substantial Power Takeoff Vehicles Act of 2005 - Amends the Internal Revenue Code to provide a $250 business tax credit for each qualified commercial power takeoff vehicle (certain highway vehicles designed to deliver ready mixed concrete or collect refuse or recyclables) owned by a taxpayer at the end of the year. Stipulates that such credit shall not be available for a vehicle used during the year by a governmental entity or a tax-exempt organization.

To amend the Internal Revenue Code of 1986 to allow the Hope Scholarship Credit to cover fees, books, supplies, and equipment and to exempt Federal Pell Grants and Federal supplemental educational opportunity grants from reducing expenses taken into account for the Hope Scholarship Credit.

United States · United States Congress · 8 February 2005

Amends the Internal Revenue Code to: (1) include certain additional expenses, such as fees, books, supplies and equipment, as qualified tuition and related expenses for purposes the Hope Scholarship Tax Credit; (2) exclude Federal Pell Grant and Supplemental Educational Opportunity Grant payments as mandatory reductions to expenses eligible for the Hope Scholarship Tax Credit; and (3) exempt the additional expenses allowed by this Act from certain tax reporting requirements.

VEHICLE Technology Act of 2005

United States · United States Congress · 8 February 2005

Volume Enhancing Hardware Incentives for Consumer Lowered Expenses Technology Act of 2005 or the VEHICLE Technology Act of 2005 - Amends the Internal Revenue Code to repeal the phaseouts of the tax credit for qualified electric vehicles and of the tax deduction for clean-fuel vehicles. Allows a tax credit for investment in certain alternative motor vehicles, including fuel cell vehicles, advanced lean burn technology motor vehicles, hybrid motor vehicles, alternative fuel motor vehicles, and mixed-fuel vehicles. Sets forth formulae for determining the amount of such credit based on various factors, including vehicle weight and fuel efficiency ratings. Modifies the tax deduction for clean-fuel vehicles and certain refueling property to: (1) extend the terminating date for such deduction through 2009, and through 2012 for hydrogen-related property; (2) increase to $150,000 the cost limitation for such deduction; and (3) extend the deduction to nonbusiness property.

Community Restoration and Revitalization Act of 2005

United States · United States Congress · 8 February 2005

Community Restoration and Revitalization Act of 2005 - Amends the Internal Revenue Code to: (1) allow an increased rehabilitation tax credit for certain low-income buildings; (2) allow a basis reduction adjustment for property eligible for the credit; (3) increase the credit for certain smaller buildings; (4) allow property eligible for the credit to be used for lodging purposes; (5) modify placed-in-service rules for credit property; (6) modify qualification rules for credit property that is tax-exempt use property; and (7) increase the credit for buildings in high cost areas.

American Samoa Possession Tax Credit Act of 2005

United States · United States Congress · 8 February 2005

American Samoa Possession Tax Credit Act of 2005 - Amends Internal Revenue Code provisions to extend the possession tax credit, with respect to American Samoa, until December 31, 2016.

A bill to amend the Internal Revenue Code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment.

United States · United States Congress · 7 February 2005

Amends the Internal Revenue Code to increase the income tax deduction for business meals and entertainment expenses from 50 percent to 70 percent in calendar year 2005, 75 percent in 2006, and 80 percent in 2008 and thereafter.

Foundation for the National Institutes of Health Improvement Act

United States · United States Congress · 7 February 2005

Foundation for the National Institutes of Health Improvement Act - Amends the Public Health Service Act to revise provisions regarding the National Foundation for Biomedical Research. Allows the National Institutes of Health (NIH) to accept transfers of funds from the Foundation. Requires the Director of NIH to transfer not less than $500,000 to the Foundation from amounts appropriated to NIH for each fiscal year.

A bill to amend the Social Security Act and the Internal Revenue Code of 1986 to exempt certain employment as a member of a local governing board from social security coverage.

United States · United States Congress · 7 February 2005

Amends the Internal Revenue Code and the Social Security Act to exempt from social security taxes remuneration paid to any elected or appointed member of the general governing board of any political subdivision of a State if such remuneration is not more than $1,000 and is paid for service performed on or after January 1, 2006.

Social Security Right to Know Act

United States · United States Congress · 3 February 2005

Social Security Right To Know Act - Amends the Social Security Act to require Social Security account statements to contain additional information, such as: (1) a statement of the current Social Security tax rates applicable to wages and self-employment income, including an indication of the combined total of such rates of employee and employer taxes with respect to wages; and (2) a comparison of total annual Social Security tax inflows with the total annual benefits paid.

Summer Operations and Seasonal Equity Act of 2005

United States · United States Congress · 3 February 2005

Summer Operations and Seasonal Equity Act of 2005 - Amends the Immigration and Nationality Act to require that no less than 12,000 of the total H-2B visas (temporary nonagricultural workers) available for any fiscal year (currently, up to 66,000) must be made available in each quarter of such year. States that an alien counted toward the numerical limitations applicable to such visas within the three years prior to the approval of a petition for an H-2B temporary worker shall not be counted again toward such limitations. Makes this provision effective as if enacted on October 1, 2004. Provides for its expiration on October 1, 2007. Amends the American Competitiveness and Workforce Improvement Act of 1998 to require the Secretary of Homeland Security to submit to the Committees on the Judiciary of the House of Representatives and the Senate information regarding: (1) the numbers of aliens granted H-2B status or terminated from H-2B status, on a quarterly basis; and (2) the countries of origin, occupations of, and compensation paid to aliens granted H-2B status, the number of aliens terminated from such status, and the number of aliens provided such status during both the fiscal year reported and the preceding fiscal year, on an annual basis.

A bill to amend the Internal Revenue Code of 1986 to exclude from gross income certain hazard mitigation assistance.

United States · United States Congress · 3 February 2005

Amends the Internal Revenue Code to exclude from gross income hazard mitigation payments received under the Robert T. Stafford Disaster Relief and Emergency Assistance Act or the National Flood Insurance Act.

A bill to amend the Internal Revenue Code of 1986 to provide for the amortization of delay rental payments and geological and geophysical expenditures.

United States · United States Congress · 3 February 2005

Amends the Internal Revenue Code to allow the amortization, over a 24-month period, of: (1) delay rental payments for the development of oil or gas wells in the United States; and (2) geological and geophysical expenses incurred in the exploration for, or development of, oil or gas in the United States.

A bill to authorize an annual appropriation of $10,000,000 for mental health courts through fiscal year 2011.

United States · United States Congress · 3 February 2005

Amends the Omnibus Crime Control and Safe Streets Act of 1968 to authorize appropriations for mental health courts from FY 2006 through 2011.

Social Security Lock-Box Act of 2005

United States · United States Congress · 3 February 2005

Social Security Lock-Box Act of 2005 - Amends the Congressional Budget Act of 1974 to provide a point of order against consideration of any: (1) budget resolution that sets forth totals for any fiscal year with respect to the Social Security Trust Funds that are less than the totals of the Social Security Trust Funds for that fiscal year as calculated in accordance with a current services baseline; or (2) spending or tax legislation that would cause any totals to be less than the Funds totals for the covered fiscal year. Makes the point of order described in (2) above inapplicable to Social Security reform legislation. Requires any Federal budget submitted by the President that recommends totals for any fiscal year with respect to the Funds that are less than the totals of the Funds for that fiscal year to include a detailed proposal for Social Security reform legislation. Makes this Act inapplicable upon the enactment of such legislation. Defines "Social Security reform legislation" as a bill or joint resolution to save Social Security that specifies that it constitutes reform legislation.

Hunger Relief Trucking Tax Credit Act

United States · United States Congress · 3 February 2005

Hunger Relief Trucking Tax Credit Act - Amends the Internal Revenue Code to allow a tax credit for the cost of transporting food to assist hunger relief efforts of certain charitable organizations.

A bill to require the Congressional Budget Office and the Joint Committee on Taxation to use dynamic economic modeling in the preparation of budgetary estimates of proposed changes in Federal revenue law.

United States · United States Congress · 3 February 2005

Expresses the sense of the Congress that it is necessary to ensure that the Congress is presented with reliable information from the Congressional Budget Office (CBO) and the Joint Committee on Taxation as to the dynamic macroeconomic feedback effects to changes in Federal law and the probable behavioral responses of taxpayers, businesses, and other parties to such changes. Requires the Joint Committee and CBO to prepare fiscal estimates of each proposed change in Federal revenue law on the basis of assumptions that estimate the probable behavioral responses of personal and business taxpayers and other relevant entities to such change and its dynamic macroeconomic feedback effects. Applies such requirement only to proposed changes that, pursuant to static fiscal estimates, have a fiscal impact exceeding $250 million in any fiscal year.

Neotropical Migratory Bird Conservation Improvement Act of 2006

United States · United States Congress · 2 February 2005

Neotropical Migratory Bird Conservation Improvement Act of 2005 - Amends the Neotropical Migratory Bird Conservation Act (NMBCA) to increase the Federal share of costs for projects funded under that Act. Prescribes the form of payment for such projects undertaken in the United States and Canada versus Latin America and the Caribbean. Requires the Secretary of the Interior to convene an advisory group to assist in carrying out NMBCA (currently, discretionary). Establishes the Neotropical Migratory Bird Conservation Fund. Increases the amount of funds that the Secretary may expend to administer the NMBCA. Authorizes the Secretary of the Treasury to transfer to the Fund amounts that were in the Neotropical Migratory Bird Conservation Account immediately before the enactment of this Act. Authorizes appropriations. Requires not less than 75 percent of such appropriations to be used for projects outside the United States. Prohibits expenditures for projects in Canada during a fiscal year unless the amount available to carry out the NMBCA exceeds $10 million for that year.

Individual Social Security Investment Program Act of 2005

United States · United States Congress · 2 February 2005

Individual Social Security Investment Program Act of 2005 - Amends title II (Old Age, Survivors, and Disability Insurance) (OASDI) of the Social Security Act to add a new part B (Individual Social Security Investment Program) to change Social Security into a system of individual accounts where workers born on or after January 1, 1984, as well as electing participants born between January 1, 1951, and January 1, 1984, have ownership of and control over the investment of their retirement funds in various investment vehicles: (1) Tier I Investment Fund; (2) Tier II Investment Fund; and (3) Tier III Investment Accounts. Allows participating workers choosing the individual account option to have 100 percent of their redirected Social Security contribution for the calendar year (6.2 percent of the sum of the total wages paid to, and self-employment income derived by, the participant) deposited into the Tier I Investment Fund. Provides for transfer of any amount held in the Tier I Investment Fund into the Tier II Investment Fund, and for an individual's first election of a Tier III investment account once the total balance of the Tier II account exceeds the minimum deposit balance of $10,000. Directs the Executive Director to establish and maintain a part B totalization account for each participant. Provides workers choosing the individual account under the Tier II option with a variety of investment options, with the initial default option set at 60 percent stocks, and 40 percent bonds. Provides for retirement distributions, including purchase of annuities. Provides that workers who choose the individual account option shall receive a recognition bond, redeemable upon reaching retirement age, based on the accrued value of their lifetime to date benefits. Provides that, in any case in which a participant is entitled to, or eligible for, need-based cash benefits for any month, the supplemental minimum benefit payments otherwise payable to such participant for such month shall be reduced by the total amount of such recognized governmental cash benefits for such month. Establishes in the executive branch of the Government an Individual Investment Board to administer the program established under this Act. Amends the Internal Revenue Code to exempt from income taxation any fund created, account established, or annuity under part B of title II of the Social Security Act, unless subject to taxes on unrelated business income of charitible organizations. Excludes from the gross income of a distributee or payee: (1) any fund or account distribution or any annuity payment; or (2) the value of a recognition bond issued to a participant, or the proceeds from its sale or redemption. Amends SSA title II to provide that, except with respect to determination of disability insurance benefits, a participant shall not be credited with wages or self-employment income under part B of SSA title II. Provides for: (1) consumer price indexing of benefits for non-disability part A beneficiaries; and (2) the maintance of adequate balances in the Social Security trust funds.

To provide for the Secretary of Veterans Affairs to conduct a pilot program to determine the effectiveness of contracting for the use of private memory care facilities for veterans with Alzheimer's Disease.

United States · United States Congress · 2 February 2005

Directs the Secretary of Veterans Affairs to conduct during fiscal years 2005 and 2006 a pilot program to determine the effectiveness of contracting with private memory care facilities to provide services for veterans suffering from Alzheimer's disease as an alternative to the provision by the Secretary of inpatient or home health care for such veterans. Requires the pilot program to be conducted through five medical centers of the Veterans Health Administration selected by the Secretary.

Prescription Drug Affordability Act

United States · United States Congress · 2 February 2005

Prescription Drug Affordability Act - Amends the Internal Revenue Code to allow a nonrefundable tax credit for 80 percent of the amount paid for a prescribed drug during the taxable year (and not compensated for by insurance or otherwise) by a taxpayer who has attained social security retirement age. Amends the Federal Food, Drug, and Cosmetic Act (FFDCA) to repeal provisions restricting the importation of prescription drugs. Allows a person who meets applicable legal requirements to be an importer of prescription drugs upon application to the Secretary of Health and Human Services. Requires the Secretary to approve such an application if the drug meets all FFDCA requirements for admission into the United States, including that the drug has been approved by the Food and Drug Administration (FDA) and is not adulterated or misbranded. Prohibits the Secretary from taking any action against any of the persons involved with the interstate sale of a prescription drug through an Internet site if: (1) the sale was made in compliance with applicable Federal and State laws; and (2) accurate information regarding compliance with such laws is posted on the Internet site.

Tax Equity Act

United States · United States Congress · 2 February 2005

Tax Equity Act - Amends the Internal Revenue Code to provide regional cost-of-living adjustments in individual income tax rates. Directs the Secretary of Labor to produce a regional cost-of-living index.

Water Conservation Incentive Act

United States · United States Congress · 2 February 2005

Water Conservation Incentive Act - Amends the Internal Revenue Code to allow a refundable tax credit for the cost of qualified water conservation property installed in a principal residence and which has a useful life of at least five years. Defines "qualified water conservation property" to include smart dual or multi program irrigation clocks, low-flow shower heads, ultra low-flush toilets, and high-efficiency clothes washing machines. Limits the amount of such credit to $1,000 for a taxable year. Allows certain small business employers (100 or fewer employees) a business tax credit for ten percent of the cost of qualified water conservation property installed in or in connection with such employer's principal place of business.

Say No to Drug Ads Act

United States · United States Congress · 2 February 2005

Say No to Drug Ads Act - Amends the Internal Revenue Code to prohibit a tax deduction for any amount paid or incurred for a direct-to-consumer advertisement of a prescription drug.

To lift the trade embargo on Cuba, and for other purposes.

United States · United States Congress · 2 February 2005

Amends the Foreign Assistance Act of 1961 and other specified Federal law to repeal the embargo placed upon all trade with Cuba. Amends the Internal Revenue Code to declare the denial of foreign tax credit inapplicable to Cuba. Permits: (1) installation and maintenance of telecommunications equipment and facilities in Cuba, including telecommunications services between the United States and Cuba; and (2) travel to and from Cuba by U.S. citizens or residents. Requires the U.S. Postal Service to provide direct mail service to and from Cuba. Prohibits U.S. assistance to Cuba, including assistance by the Export-Import Bank, the Overseas Private Investment Corporation, and the Commodity Credit Corporation, and any exchange, reduction, or forgiveness of Cuban debt.

Assured Funding for Veterans Health Care Act of 2005

United States · United States Congress · 2 February 2005

Assured Funding for Veterans Health Care Act of 2005 - Requires the Secretary of the Treasury to make available to the Secretary of Veterans Affairs for programs, functions, and activities of the Veterans Health Administration for FY 2007 130 percent of the amount obligated during FY 2005. Adjusts the amount provided for fiscal years after FY 2007 based on the number of enrolled veterans and the number of other persons eligible but not enrolled who are provided care, multiplied by the per capital baseline amount for FY 2005, as increased by the percentage increase in the Consumer Price Index. Prohibits the availability of such funds for: (1) construction, acquisition, or alteration of veterans' medical facilities (other than for repairs provided for before the date of enactment of this Act); or (2) grants for the construction of State home facilities for the furnishing of veterans' domiciliary, nursing home, and hospital care.

To repeal the per-State limitation applicable to grants made by the National Endowment for the Arts from funds made available for fiscal year 2005.

United States · United States Congress · 2 February 2005

Amends general provisions (title III) of the Department of the Interior and Related Agencies Appropriations Act, 2005 (which is division E of the Consolidated Appropriations Act, 2005, Public Law 108-447) to repeal a limitation on the portion of National Endowment for the Arts grant funds which may be made available to any single State.

Corporate Charitable Disclosure Act of 2005

United States · United States Congress · 2 February 2005

Corporate Charitable Disclosure Act of 2005 - 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.

To amend the Internal Revenue Code of 1986 to permanently extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.

United States · United States Congress · 2 February 2005

Amends the Internal Revenue Code to permanently extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.

To amend the Internal Revenue Code of 1986 to provide a credit to businesses whose employees teach at community colleges.

United States · United States Congress · 2 February 2005

Amends the Internal Revenue Code to allow employers a business tax credit of $1,000 for each of their employees who teaches a course at an accredited community college for which the employee receives no compensation.

Common Sense Spending Act of 2005

United States · United States Congress · 2 February 2005

Common Sense Spending Act of 2005 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend discretionary spending limits through FY 2010. 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 FY 2011 affecting direct spending (currently, direct spending and 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 $8.4 billion before making such calculations for FY 2005. States that, with respect to eliminating a deficit increase, accounts shall be assumed to be at the level in the baseline for FY 2006 and for FY 2007 through 2010 at the baseline after adjusting for any sequester in FY 2005. Revises the definition of baseline to exclude emergency appropriations and legislation. Prohibits such emergency appropriations 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.

Permanent Sales Tax Deduction Act of 2005

United States · United States Congress · 2 February 2005

Permanent Sales Tax Deduction Act of 2005 - Amends the Internal Revenue Code to make provisions authorizing a taxpayer election to deduct State and local sales taxes in lieu of State and local income taxes permanent.

CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2006

United States · United States Senate · 1 February 2005

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

United States · United States Congress · 1 February 2005

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 - Amends Federal bankruptcy law governing: (1) conversion of bankruptcy petitions; (2) abusive creditor practices; (3) domestic support obligations; (4) consumer protections, including protection of personally identifiable information; (5) measures to discourage bankruptcy abuse, including reduction of the homestead exemption for fraud; (6) guidelines for general and small business bankruptcies, including appointment of a committee of retired employees; (7) bankruptcy data dissemination and bankruptcy tax provisions; (8) ancillary and other cross-border cases to incorporate the Model Law on Cross-Border Insolvency; and (9) financial contracts and transfers entered into with an insolvent insured depository institution before its conservatorship or receivership. Reenacts Chapter 12, Adjustment of Debts of a Family Farmer with Regular Annual Income. Brings family fishermen within the purview of Federal bankruptcy protection. Prescribes guidelines for insolvent health care businesses and related patients' rights. Bankruptcy Judgeship Act of 2005 - Amends the Federal Judicial Code to mandate appointments for additional temporary bankruptcy judgeships in designated States. Prescribes additional consumer credit disclosures, including open end credit plans and introductory rates.

Rural Economic Investment Act of 2005

United States · United States Congress · 1 February 2005

Rural Economic Investment Act of 2005 - Amends the Internal Revenue Code to exclude from gross income interest received by a bank or savings association that is insured under the Federal Deposit Insurance Act on a loan secured by agricultural real estate or by a leasehold mortgage on agricultural real estate (real property used for agricultural production or certain single family rural residences).