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1,401 records in US in 1977

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Records

Bill· HRH.R. 452 (95th)referred

A bill to amend the Social Security Act to improve the survey and certification process, rate setting and fiscal audit methods, and general regulation of nursing homes and intermediate care facilities under the medicaid program, and to provide for medical, psychological, and social assessment of long-term care patients under both the medicare and medicaid programs.

United States · United States Congress · 4 January 1977

Title I: Survey and Certification, Rate-Setting and Audit, and General Regulation of Long Term Care Facilities Under Medicaid Programs - Directs that State plans under Title XIX (Medicaid) of the Social Security Act must provide that no skilled nursing facility may receive payments under such plan unless and until it is approved to receive payments under Title XVIII (Medicare) of the Social Security Act. Requires the State plan to give the State agency the power to terminate reimbursement to a skilled nursing or intermediate care facility which such agency has found has violated its provider agreement. States that payment of the skilled nursing facility and intermediate care facility services shall be based upon a prospective cost based method of computation in which the audited costs of rendering service in such facilities in a prior year is updated through the use of economic indices to the year in which payment is made. Requires that any skilled nursing facility or intermediate care facility receiving payments under such plan be required to maintain with the State agency a bond in such amount, under such terms, and in such form as the State agency may direct. Title II: Medical, Psychological, and Social Assessment of Patients In Need of Long Term Care under Medicare and Medicaid Programs - Directs that payments for services furnished an individual may be made only to eligible providers of services and only if a physician certifies that such services are necessary, based on such patient assessment criteria as the Secretary may require.

Bill· HRH.R. 459 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow individuals who have attained age 65 a nonrefundable tax credit for property taxes paid by them on their principal residences or for a certain portion of the rent they pay for their principal residences.

United States · United States Congress · 4 January 1977

Authorizes, under the Internal Revenue Code, any individual who has attained the age of 65 to take a nonrefundable tax credit for a percentage of the amount of real property taxes or the amount of rent constituting real property taxes paid or accrued by the taxpayer during the taxable year. Defines the applicable percentage as 50 percent reduced by two percent for each $1,000 by which the adjusted gross income of such taxpayer exceeds $5,000.

Bill· HRH.R. 438 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the four-percent excise tax on the net investment income of a private foundation shall not apply to a private foundation organized and operated exclusively as a library, museum, or similar educational institution.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to provide that the excise tax on the investment income of tax exempt foundations shall not apply to any private foundation organized and operated exclusively as a library, museum or similar educational institution, and which is not directly or indirectly controlled by substantial contributors or their families.

Bill· HRH.R. 439 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a tax credit for certain contributions of literary, musical or artistic compositions.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow a limited credit against the income tax for contributions of the taxpayer's literary, musical or artistic compositions to certain tax exempt organizations. Limits the credit allowed for any one year to the amount of tax on past gross income attributable to the sale of such compositions. Disallows any credit for letters, memoranda, or similar property relating to the duties of any governmental office held by the taxpayer when they were composed. Limits the credit taken in any taxable year to the greater of $2,500 or 50 percent of the taxpayer's income tax liability for the year. Disallows a credit to the extent that the total value of contribution exceeds $35,000. Allows a five-year carry-over of any credit disallowed by the previous two limitations. Requires that the donee certify to the taxpayer that the contribution is material of literary, artistic or musical significance and its use will be related to the purpose upon which the donee's tax exempt status is based.

Bill· HRH.R. 427 (95th)referred

Jobs Creation Act

United States · United States Congress · 4 January 1977

Jobs Creation Act - Amends the Internal Revenue Code to reduce the individual income tax rates. Allows a credit against the income tax up to $1,000, for ten percent of the increase in the total savings deposits and investments since the end of the previous year. Excludes all corporate dividends received by individuals from gross income. Reduces the corporate normal tax rate to 20 percent. Allows the taxpayer to take a deduction for specified percentages of the acquisition costs of certain types of property, with a corresponding reduction in basis, in lieu of a depreciation deduction. Doubles the corporate surtax exemption to $100,000.

Bill· HRH.R. 377 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction with respect to the exhaustion of geothermal steam and geothermal resources.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow as a deduction an amount equal to 25 percent of the gross income from geothermal steam and geothermal resources property. Limits such deduction to a maximum of 50 percent of the taxpayer's taxable income from the geothermal steam and geothermal resources property for the taxable year. Directs the Secretary of the Treasury to adopt regulations which allow the same deduction for intangible dwelling and development costs for geothermal steam and geothermal resources as are presently available for the development of oil and gas wells.

Bill· HRH.R. 376 (95th)referred

Small Corporate Employers Retirement Pension Plans Act

United States · United States Congress · 4 January 1977

Small Corporate Employers Retirement Pension Plans Act - Authorizes small corporate employers to establish a qualified trust, or annuity plan for their employees by complying with a plan which prescribes minimum participation standards, minimum vesting standards, and minimum funding standards different from those presently applicable to qualifying trusts under the Internal Revenue Code. Allows an employer to take a tax deduction for contributions to an employees' trust or annuity for an amount in excess of such contributions, up to a contribution level of $25,000.

Bill· HRH.R. 378 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction with respect to the exhaustion of geothermal steam and geothermal resources.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow as a deduction an amount equal to 25 percent of the gross income from geothermal steam and geothermal resources property. Limits such deduction to a maximum of 50 percent of the taxpayer's taxable income from the geothermal steam and geothermal resources property for the taxable year.

Bill· HRH.R. 383 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a tax credit on houses or apartments for a portion of the real estate taxes paid or incurred by their landlords.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow an income tax credit for 25 percent of the amount of rent paid by the taxpayer which is equal to the taxpayer's proportionate share of the local and State property taxes imposed on the land and building in which his dwelling unit is located.

Bill· HRH.R. 379 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt certain agricultural aircraft from the aircraft use tax, to provide for the refund of the gasoline tax to the agricultural aircraft operator with the consent of the farmer.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to exempt aircraft used primarily for agricultural operation from the excise tax on civil aircraft. Provides for the refund of the excise tax on gasoline used for farming purposes in an aircraft to the aerial applicator who purchased it.

Bill· HRH.R. 375 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction of intangible drilling and development costs in the case of geothermal resources.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to provide a deduction for the intangible drilling and development costs for wells drilled for geothermal steam and geothermal resources. Removes the 22 percent limitation on deductions for depreciation of geothermal resources. Allows the deduction of geothermal exploration expenditures where intangible drilling and development costs may be deducted under this Act.

Bill· HRH.R. 359 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to remove the dollar limitation on the exclusion for certain disability payments and to allow such exclusion in the case of public safety officers who are partially disabled as the result of injuries sustained in the line of duty.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to provide an unlimited exclusion from gross income of disability payments received by totally disabled persons and retired public safety officers who were disabled on active duty.

Bill· HRH.R. 301 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the first $5,000 of interest received on certain savings deposits in the case of individuals over 65 years of age.

United States · United States Congress · 4 January 1977

Allows an individual who has attained the age of 65 before the close of the taxable year to exclude up to $5,000 of the interest received on savings from gross income under the Internal Revenue Code. Reduces the $5,000 limitation by so much of the adjusted gross income as tax exceeds $10,000. Requires married taxpayers to file a joint return to be eligible for the tax exclusion.

Bill· HRH.R. 297 (95th)referred

Small Business Growth and Job Creation Act

United States · United States Congress · 4 January 1977

Small Business Growth and Job Creation Act - Title I: Small Business Independence and Continuation - Amends the Internal Revenue Code to establish graduated corporate income tax rates. Establishes a new alternative tax on capital gains. Establishes an estate tax exemption of $180,000. Establishes a new rate schedule for the estate tax. Provides a gift tax exclusion of $9,000, and a gift tax exemption of $90,000. Provides that a distribution of property by a corporation in redemption of stock to pay death taxes shall be treated as a distribution in full payment in exchange for the stock if all of the stock of such corporation which is included in determining the value of the decedent's gross estate is either, (1) more than 20 percent of the value of the gross estate of such decedent, or (2) more than 40 percent of the taxable estate of such decedent. Provides that if stock in a corporation is sold by a shareholder owning stock representing more than 30 percent of the fair market value of all outstanding stock of the corporation whose stock is being sold, the gain from such sale shall be recognized only to the extent that the taxpayer's sale price exceeds the cost of replacement property purchased by the taxpayer within two years. Defines "replacement property" as property which is held for the production of income or which is held for investment. Allows the executor of an estate involving an interest in a closely held business to elect to include in the value of the gross estate the decedent's basis in such business rather than the fair market value of such interest. States that the basis of property acquired from a decedent as to which such an election was made shall be the decedent's basis in such property rather than the fair market value of such interest. Allows the marital deduction of the estate tax to exceed 50 percent of the value of the adjusted gross estate when an interest in a specially defined small business is included in the estate. Title II: Small Business Growth Incentives - Allows a taxpayer to choose the cash method of accounting in any case where inventory is an income determining factor and the ending inventory for the taxable year does not exceed $200,000. Provides a deferred tax credit against taxable income for unincorporated businesses. Establishes a graduated investment tax credit. Amends the definition of a small business corporation to allow domestic corporations with up to 20 shareholders to qualify for subchapter S treatment. Allows a small business to make a subchapter S election at any time during the taxable year. Allows to a business a credit equal to 50 percent of the wages paid during the taxable year to new employees, up to two employees and $20,000 for the taxable year. Allows a similar credit for new disadvantaged employees up to a maximum of $60,000 per taxable year. Allows the practical cost recovery method to be used in computing depreciation. Title III: Small Business Tax Simplification - Allows a corporation to file an application for refund of overpayment of estimated income tax at any time during the taxable year. Provides a special rule for treatment of net operating loss adjustments in the case of new corporations. Increases the minimum credit on accumulated earnings from $150,000 to $500,000. Redefines "section 1244 stock" to mean common stock in a corporation if: (1) such corporation during its preceding taxable year derived more than 50 percent of its aggregate gross receipts from sources other than royalties, rents, dividends, interest, annuities, and sales or exchanges of stock or securities; and (2) the equity capital of such corporation does not exceed $1,000,000. Increases the losses on section 1244 stock which may be treated as ordinary losses (rather than capital losses) from $25,000 to $50,000.

Bill· HRH.R. 304 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide income tax incentives for the modification of certain facilities and vehicles so as to remove architectural and transportational barriers to the handicapped and elderly.

United States · United States Congress · 4 January 1977

Authorizes a taxpayer, under the Internal Revenue Code, to elect to treat qualified architectural and transportational barrier removal expenses which are paid or incurred during the taxable year as expenses which are not chargeable to capital account. Deems such expenses so treated as allowable tax deductible expenditures.

Bill· HRH.R. 306 (95th)referred

Taxpayer Audit Disclosure Act

United States · United States Congress · 4 January 1977

Taxpayer Audit Disclosure Act - Requires the establishment of formal procedures and criteria for the selection of individual income tax returns for audit. Directs the Secretary of the Treasury or his delegate to provide any individual selected for auditing with a written notice which clearly specifies the reasons for and manner in which the return of such individual was selected for audit. Provides that the Secretary or his delegate shall furnish to such individual a written explanation which describes the audit procedure, the rights which a taxpayer may exercise during such procedure, the right of the taxpayer to make an administrative or judicial appeal from an adverse decision at the end of such procedure, and the right of the taxpayer to claim a refund. Requires the Secretary of the Treasury or his delegate to submit to the Joint Committee on Internal Revenue Taxation before September 30 of each year a report setting forth: (1) the number of individuals whose returns were selected for audit during the previous 12-month period; (2) a classification of individuals whose returns were audited during the previous 12-month period by, among other factors, income levels, geographic distribution, and profession; (3) the number of individuals audited during the previous 12-month period who were found to have made underpayments or overpayments of tax, together with summary statistics reflecting the percentage of such number, by income category, who made underpayments or overpayments of certain ranges of amounts (to be determined by the Secretary or his delegate); and (4) such other information as may be requested by the joint committee in accordance with the purposes of this Act.

Bill· HRH.R. 300 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a tax credit with respect to housing senior citizens in the principal residence of the taxpayer.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow a limited tax credit in an amount of $250 for each individual who is at least 61 years of age before the beginning of the taxable year, whose principal place of abode during the taxable year is the principal residence of the taxpayer, and who is not a lodger with the taxpayer.

Bill· HRH.R. 302 (95th)referred

A bill to provide an income tax credit for savings for the payment of post-secondary educational expenses.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow a credit against the income tax for 20 percent of the first $250 deposited for the taxpayer and of the first $250 deposited for each dependent in a special savings account maintained to meet the future higher education needs of a beneficiary not presently enrolled in an institution of higher education. Provides for recapture of tax credits from amounts expended from such accounts for noneducational purposes' and from amounts remaining in such accounts when the beneficiary attains the age of 25, or if enrolled in an institution of higher education at that time, when the beneficiary's enrollment terminates.

Bill· HRH.R. 298 (95th)referred

A bill to amend section 167 of the Internal Revenue Code of 1954 to encourage landlords to meet minimal housing standards by disallowing the depreciation deduction to a landlord who has been convicted of violating a housing code.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to prohibit any deduction for the depreciation of property for a taxable year during which a housing code violation existed for such property for which the owner or his agent was convicted. Provides that the adjusted basis of such property will be determined as though the disallowed deduction were taken.

Bill· HRH.R. 296 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for certain expenses incurred in higher education.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow taxpayers to credit against the income tax specified higher education expenses, including tuition, fees, books, and supplies, incurred by the taxpayer for himself or any dependent. Limits the credit to 100 percent of the first $200 for any individual, 25 percent of the next $300, and 5 percent of the next $1,000. Limits the credit to expenses incurred by full time students at institutions of vocational and higher education, minus scholarships and veterans' benefits. Limits the total credit allowed the taxpayer to his income tax liability minus the sum of all other credits applied thereto. Disallows any deduction of educational expenses used to determine the amount of the credit allowed by this Act.

Bill· HRH.R. 303 (95th)referred

A bill to provide for the conservation of energy by amending the Internal Revenue Code of 1954 to allow a refundable tax credit for certain building insulation and heating improvements.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow a credit against the individual income tax up to $1,000, for expenses paid or incurred for qualified heating and insulation improvements in any building owned by the taxpayer in the United States. Defines qualified improvements as storm windows, insulation, heat exchangers, ducting or other items certified by the Administrator of the Federal Energy Administration as achieving a significant reduction in a building's heating or cooling loss, or which is designed and capable of improving a heating plant's efficiency. Limits the credit to expenses paid or incurred between enactment and January 1, 1979. Provides that the maximum credit allowed for expenses incurred by a subchapter S corporation, controlled groups, and trusts or estates shall be proportionately divided between entity, the owners, or the members or the beneficiaries as the case may be. Provides for a reduction in a building's basis in the same amounted as the credit taken.

Bill· HRH.R. 254 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide an additional personal exemption for certain elderly individuals whose spouses have died.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to provide a $750 personal exemption for taxpayers between 60 and 65 years of age, and a $500 exemption for taxpayers over the age of 65, where the taxpayer's spouse has died since the taxpayer attained the age of 55, and the taxpayer has not since married.

Bill· HRH.R. 213 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for certain expenses incurred in providing higher education.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow as a credit against the income tax specified higher education expenses, including tuition and fees, paid or incurred by an individual during the taxable year for himself and for any other individual. States that for each individual's expenses, the credit shall be: (1) 100 percent of such expenses as does not exceed $200; (2) 75 percent of such expenses as exceeds $200 but not $500; and (3) 25 percent of such expenses as exceeds $500 but does not exceed $1,500. Disallows the deduction of any education expenses taken into account in determining the amount of such credit.

Bill· HRH.R. 202 (95th)referred

Commuters Tax Act

United States · United States Congress · 4 January 1977

Commuters Tax Act- Amends the Internal Revenue Code to allow a tax credit for an amount equal to the amounts paid by such individual during the taxable year for reasonable public transit transportation between his or her place of residence and place of employment. Provides that the maximum credit allowed for a taxable year shall be limited to $200. Allows an income tax credit for disabled individuals for the cost of transportation to and from work to a maximum of $750 per taxable year. Defines "disabled individual as a person who is Blind, or has lost the use of one or more of his extremities, or is otherwise disabled to such an extent that in order to avoid undue hardship or danger he must use something other than public transportation, or has a Veterans' Administration disability rating of 40 percent or more. Allows an individual to take an income tax deduction in lieu of a tax credit for the expense of public transportation to and from work, such deduction to be limited to a maximum of $800. Allows a disabled individual to take an income tax deduction in lieu of a tax credit for the expense of transportation to and from work, such deduction to be limited to a maximum of $3,000.

Bill· HRH.R. 165 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow an income tax credit for tuition expenses of the taxpayer or his spouse or a dependent at an institution of higher education, and an additional credit for gifts or contributions made to any institution of higher education.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow as a credit sums paid for tuition to an institution of higher education by a taxpayer for himself, his spouse or a dependent. Limits such credit to $300 per student for each taxable year. Allows individuals a credit for charitable contributions to institution of higher education. Limits such credit to 20 percent of the taxpayer's total tax liability or $500, whichever is less. Stipulates that no amounts taken into account in calculating such credit shall be allowed as a charitable deduction.

Bill· HRH.R. 168 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow certain individuals a deduction for the expenses of operating a motor vehicle to transport their children to public school.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow an income tax deduction for expenses and depreciation attributable to the operation of the taxpayer's motor vehicle to transport a child to a public primary or secondary school which does not provide transportation from the child's principal residence. Limits the deduction to transportation of a child sharing the taxpayer's principal residence to a school more than one mile away. Provides that the Secretary of the Treasury may establish a standard mileage allowance, not less than 15 cents per mile, for computing such transportation expenses.

Bill· HRH.R. 128 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow individuals who have attained age 65 a nonrefundable tax credit for property taxes paid by them on their principal residences or for a certain portion of the rent they pay for their principal residences.

United States · United States Congress · 4 January 1977

Authorizes, under the Internal Revenue Code, any individual who has attained the age of 65 to take a nonrefundable tax credit for a percentage of the amount of real property taxes or the amount of rent constituting real property taxes paid or accrued by the taxpayer during the taxable year. Defines the applicable percentage as 50 percent reduced by two percent for each $1,000 by which the adjusted gross income of such taxpayer exceeds $5,000.

Bill· HRH.R. 114 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow persons covered by certain other retirement plans to establish personal savings for retirement.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow a limited deduction for amounts paid by or on behalf of an individual for an individual retirement account, an individual retirement annuity, an individual retirement bond, an employee's trust, or an annuity contract.

Bill· HRH.R. 127 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow individuals a credit against income tax for expenses paid by a taxpayer in connection with his education or the education of his spouse or any of his dependents at an institution of higher learning.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow an income tax credit for the expenses paid for the higher education of the taxpayer or a dependent. Limits the credit taken for the education of any one individual to either $1,500 or one half of the individual's expenses, whichever is less. Restricts application of the credit to expenses incurred by full-time students at institutions providing credit towards a bachelor's or higher degree.

Bill· HRH.R. 61 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a tax credit for expenditures by a taxpayer for solar heating and cooling equipment installed in new or existing residential buildings, to provide a tax credit for expenditures by an individual for insulation in such individual's principal residence, and to make certain changes in the investment tax credit.

United States · United States Congress · 4 January 1977

Allows, as a credit against the income tax, 25 percent of the expenditures paid between December 31, 1976, and January 1, 1982, for the installation of solar heating or cooling equipment in any residential building owned by the taxpayer and which is not used in a trade or business or held for the production of income. Limits the expenditure claimed by any taxpayer, for any building, to $8,000. Prorates the allowable credit among joint owners and tenant stockholders. Prohibits any increase in the structure's basis to the extent that this credit is claimed. Defines "solar heating and cooling equipment" as equipment meeting the criteria of the Solar Heating and Cooling Demonstration Act, with a useful life of at least three years, and which is originally used by the taxpayer. Allows, as a credit against the income tax, 25 percent of the expenditures paid for insulating the taxpayer's residence between December 31, 1976, and January 1, 1979. Limits the expenditures claimed during this period to $1,000 for any individual or building. Prorates the allowable credit among joint owners and tenant stockholders. Prohibits any increase in the basis of such residence to the extent that this credit is taken. Applies these provisions to buildings in use as residences on January 1, 1977. Allows an investment tax credit for expenditures paid or incurred after January 1, 1977, for insulation installed before January 1, 1979, and solar energy equipment installed before January 1, 1982, in structures used for a trade or business or held for the production of income. Extends this investment credit to structures used as lodging facilities. Directs the Secretary of the Treasury to draft additional criteria defining solar energy equipment for the purposes of the investment tax credit.

Bill· HRH.R. 84 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a tax credit on houses or apartments for a portion of the real estate taxes paid or incurred by their landlords.

United States · United States Congress · 4 January 1977

Amends the Internal Revenue Code to allow an income tax credit for 25 percent of the amount of rent paid by the taxpayer which is equal to the taxpayer's proportionate share of the local and State property taxes imposed on the land and building in which his dwelling unit is located.

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