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1,451 records in US in 1999
United States · United States Congress · 6 January 1999
Marriage Penalty Relief Act - Amends the Internal Revenue Code to make the standard deduction on a joint (married) return equal to twice the deduction of a single (not married) return.
United States · United States Congress · 6 January 1999
Taxpayer Fairness Act - Amends the Internal Revenue Code to allow the following as deductions: (1) the Federal Insurance Contributions Act and the Railroad Retirement Tax Act (RRTA) taxes on employees; (2) 50 percent of the tax on self-employment income; and (3) 50 percent of the RRTA tax on employee representatives.
United States · United States Congress · 6 January 1999
Small Business Investment Company Technical Corrections Act of 1999 - Amends the Small Business Investment Act of 1958 to define "interest" for purposes of small business loans granted under the Small Business Investment Company (SBIC) program. Amends the Small Business Act to increase the FY 1999 and 2000 funding levels for such program. Amends the Small Business Investment Act of 1958 to: (1) remove a requirement that at least 50 percent of the annual program level of approved participating securities under the SBIC program be reserved for funding with SBICs having private capital of not more than $20 million; (2) provide for the determination of an eligible small business or smaller enterprise that is not required to pay Federal income tax at the corporate level but that is required to pass income through to its shareholders or partners by using a specified formula to compute its after-tax income; and (3) require the Small Business Administration to issue SBIC guarantees and trust certificates at periodic intervals of not less than 12 (currently six) months.
United States · United States Congress · 6 January 1999
Cuban Humanitarian Trade Act of 1999 - Amends the Foreign Assistance Act of 1961 to exempt from the embargo on trade with Cuba the export of food, medicines, or medical supplies, instruments, or equipment, or any travel incident to delivery of such items. Exempts the same items from the President's authority to restrict exports to Cuba under the Export Administration Act of 1979 or the International Emergency Economic Powers Act. Amends the Internal Revenue Code to terminate the denial of foreign tax credit with respect to income, war profits, or excess profits taxes paid to Cuba that are attributable to activities with respect to the permitted exports, or travel incident to such activities, under this Act. Directs the President to report to the Congress with respect to the uses, and end users, of the permitted exports to Cuba.
United States · United States Congress · 6 January 1999
Truth in Budgeting Act - Prohibits the receipts and disbursements of the Airport and Airway Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of the Federal budget as submitted by the President, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts such trust funds from any general statutory budget outlays limitation. Amends Federal transportation law to require the Secretary of Transportation to estimate annually: (1) what, but for this Act, would be at the close of the next fiscal year the amount of unfunded aviation authorizations; and (2) the net aviation receipts at the close of such year.
United States · United States Congress · 6 January 1999
Puerto Rican Source Tax Fairness Act - Amends specified Federal law (relating to limitations on State income taxation of certain pension income) to provide that retirement income from pension plans of the government of the Commonwealth of Puerto Rico shall be exempt from nonresident taxation by the Commonwealth in the same manner as State pension plans are exempt from State income taxation.
United States · United States Congress · 6 January 1999
Grants a Federal charter to the National Teachers Hall of Fame, Incorporated (a tax-exempt organization incorporated under the laws of Kansas).
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to allow a business tax credit for producing crude oil and natural gas from marginal wells of: (1) $3 per barrel of qualified crude oil production; and (2) $.50 per 1,000 cubic feet of qualified natural gas production. Provides: (1) a formula for reducing such credit in years in which oil and gas prices increase; and (2) an inflation adjustment for such formula. Allows such credit against the regular and minimum tax.
United States · United States Congress · 6 January 1999
Amends the Harmonized Tariff Schedule of the United States to grant duty-free treatment, through January 1, 2003, of the personal effects of, and other equipment imported and used by, participants, their families and associated members, and officials involved in the 1999 International Special Olympics, the 1999 Women's World Cup Soccer, the 2001 International Special Olympics, the 2002 Salt Lake City Winter Olympics, and the 2002 Winter Paralympic Games. Declares that such articles shall be: (1) free of applicable taxes and fees; but (2) not exempt from routine customs inspections.
United States · United States Congress · 6 January 1999
United States Textbook and Technology Trust Fund Act - Amends the Internal Revenue Code to permit an individual to designate on a tax return that there shall be paid into the United States Textbook and Technology Fund (the Fund): (1) one dollar of a tax overpayment; and (2) any cash contribution which the individual includes in the return. Creates such Fund. Makes qualifying public elementary and secondary schools eligible to receive grants from the Fund.
United States · United States Congress · 6 January 1999
TABLE OF CONTENTS: Title I: Demand for Quality Child Care Title II: Supply of Quality Child Care Subtitle A: Tax Benefits for Quality Child Care Subtitle B: Child Care Quality Improvement Incentive Program Subtitle C: Distribution of Information About Quality Child Care Subtitle D: Quality Child Care Through Federal Facilities and Programs Subtitle E: Miscellaneous Provisions Creating Improved Delivery of Child Care: Affordable, Reliable, and Educational Act - CIDCARE Act - Title I: Demand for Quality Child Care - Amends the Internal Revenue Code to modify the amount of the dependent care tax credit. Defines "accredited child care center," "child care credentialing or accreditation entity," and "credentialed child care professional." Makes the credit refundable taxpayers eligible for the earned income credit. Requires an employer to make advance payments (with wage withholding payments) of dependent care amounts. (Sec. 102) Increases the dollar limits on the exclusion from employee gross income of employer payments for dependent care assistance. Includes in the definition of "dependent care assistance" payments to the employee from amounts contributed to the employee's account during the pregnancy paid within one year after contribution and while the employee, the employee's spouse, or one of their parents stays at home to care for a qualifying individual. Requires the Office of Personnel Management to establish and maintain a dependent care assistance program for employees. (Sec. 103) Amends the Social Security Act to require States to have laws requiring that child support orders enforced under certain provisions include an amount for child care services. Title II: Supply of Quality Child Care - Subtitle A: Tax Benefits for Quality Child Care - Amends the Internal Revenue Code to allow a business credit for 50 percent (with a dollar limit) of qualified child care expenses, including the acquisition, construction, rehabilitation, or expansion of property, operating costs, services contracts, and accreditation costs. Terminates the credit after 1999. (Sec. 202) Applies provisions relating to corporate charitable contributions of scientific property used for research to include contributions to: (1) accredited or certified child care centers or their support entities; (2) educational organizations; (3) certain governmental units; and (4) certain scientific research organizations. Allows the donor to repair and refurbish the property. (Sec. 203) Excludes the deduction for the accreditation and credentialing expenses for child care providers from the two-percent floor on miscellaneous itemized deductions. (Sec. 204) Allows for the care of a dependent in a home office without loss of the home office deduction. Subtitle B: Child Care Quality Improvement Incentive Program - Establishes a program of competitive grants to States to improve child care quality. Requires recipient States to: (1) establish a subsidy for certified child care providers; (2) establish a grant program to assist small businesses in operating child care programs; and (3) carry out one or more of seven specified activities. Authorizes appropriations. Subtitle C: Distribution of Information About Quality Child Care - Requires technical assistance and the collection and dissemination of information concerning the importance of high quality child care. Mandates competitive grants to certain child care credentialing or accreditation entities, with the grants used to refine and evaluate the entities' procedures. Authorizes appropriations. (Sec. 222) Mandates a grant to an eligible organization to develop and operate a technology-based child care training infrastructure in order to facilitate accreditation, credentialing, and information dissemination. Regulates grantee fund use. Authorizes appropriations. (Sec. 223) Requires that grantee to establish and operate a child care training revolving fund to make loans to enable the purchase of equipment used to disseminate training through the infrastructure. Subtitle D: Quality Child Care Through Federal Facilities and Programs - Requires the Corporation for National and Community Service and the Departments of Education, Housing and Urban Development, Justice, and Labor to ensure that any child care made available under any Federal financial assistance carried out by those agencies be provided by an accredited child care center or a credentialed child care professional. Amends title XX (Block Grants to States for Social Services) of the Social Security Act to impose similar requirements on child care services made available under certain provisions. (Sec. 233) Amends the Housing and Community Development Act of 1974 to include the establishment of accredited child care centers in activities permitted to be assisted under community development provisions. Subtitle E: Miscellaneous Provisions - Amends the Higher Education Act of 1965 to allow loan repayments or cancellation for individuals employed providing child care services who have a certificate or degree in early childhood education or development. (Sec. 242) Amends part D (Child Support and Establishment of Paternity) of title IV of the Social Security Act to require that each State case registry record include the custodial status of any child covered by the order involved. Requires that the Secretary of the Treasury have access to: (1) the National Directory of New Hires to verify information that is required on a tax return (currently, to verify a claim regarding employment in a tax return); and (2) the Federal Case Registry of Child Support Orders to administer Internal Revenue Code provisions granting tax benefits based on support and residence provided dependent children. Limits the minimum past due support to which offset procedures may be applied to not more than $150. Sets the withholding threshold at $150 (currently, $500).
United States · United States Congress · 6 January 1999
Indian Housing Loan Guarantee Extension Act of 1999 - Amends the Housing and Community Development Act of 1992, with regard to the Indian Housing Loan Guarantee Fund, to extend the: (1) authorization of appropriations; and (2) annual guarantee limitations, but bases such limitations on fiscal year appropriations.
United States · United States Congress · 6 January 1999
Authorizes the Secretary of the Interior to enter into noncompetitive oil and gas production and reclamation contracts with well operators in the Wayne National Forest (Ohio) who meet specified statutory criteria pursuant to private land mineral leases, subject to the same laws and regulations that applied to such leases. Proscribes contractual arrangements authorizing deeper completions or additional drilling. Requires contracts to require contractors to provide a Federal oil and gas bond to ensure complete and timely reclamation of the former lease tract in accordance with regulations of the Bureau of Land Management (BLM) and the Forest Service, unless the Secretary accepts in lieu thereof assurances from the Ohio Department of Natural Resources, Division of Oil and Gas, that: (1) the contractor is in compliance with specified Ohio bonding requirements; (2) the United States is entitled to receive funding under Ohio law to properly plug and restore oil and gas sites and lease tracts; and (3) at least 20 percent of Ohio State severance tax revenues have been allocated to the State of Ohio Orphan Well Fund. Declares that, in entering into any contract under this Act, the Secretary shall reserve the right to require contractor compliance with BLM and Forest Service oil and gas lease bonding requirements whenever the Secretary finds that less than 20 percent of State severance tax revenues has been allocated to such Fund.
United States · United States Congress · 6 January 1999
District of Columbia Democracy 2000 Act - Amends the District of Columbia Code, as amended by the Balanced Budget Act of 1997 and the Taxpayer Relief Act of 1997, to repeal the mandate and authority of the District of Columbia Financial Responsibility and Management Assistance Authority to develop and implement management reform plans. (Thus restores the management and personnel authority of the Mayor of the District of Columbia.) Amends the District of Columbia Code, as amended by the District of Columbia Financial Responsibility and Management Assistance Act of 1995 and the District of Columbia Home Rule Act, to reduce by one consecutive fiscal year the Authority's control period (thus suspending the Authority's control activities after April 15, 1998).
United States · United States Congress · 6 January 1999
Military Retiree Health Care Relief Act - Amends: (1) the Internal Revenue Code to allow a refundable credit for premiums paid by military retirees for Medicare (title XVIII of the Social Security Act) part B (Supplementary Medical Insurance) coverage; and (2) part B of title XVIII of the Social Security Act to eliminate, as specified, the ten percent part B premium penalty.
United States · United States Congress · 6 January 1999
Notch Baby Health Care Relief Act of 1999 - Amends the Internal Revenue Code to allow a credit for premiums paid by a "notch baby" under part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act. Amends such part B to eliminate the part B premium penalty for a "notch baby."
United States · United States Congress · 6 January 1999
College Savings Protection Act - Amends the Internal Revenue Code to revise provisions concerning distributions from State tuition programs to provide for the exclusion from gross income of distributions used for the payment of qualified higher education expenses.
United States · United States Congress · 6 January 1999
TABLE OF CONTENTS: Title I: Benefits and Eligibility Title II: Participation of Physicians, Dentists, Nurses, Hospitals, and Others Title III: Local Administration Title IV: State Administration Title V: National Health Insurance Board; National Advisory Medical Policy Council; General Administrative Provisions Title VI: Eligibility Determinations, Complaints, Hearings, and Judicial Review Title VII: Application of Act to Individuals Covered Under Medicare Program Title VIII: Fiscal Provisions Title IX: Miscellaneous Provisions Title X: Value Added Tax and National Health Care Trust Fund Title XI: Study and Development of Cost Control Mechanisms National Health Insurance Act - Title I: Benefits and Eligibility - Makes medical services available to eligible individuals. (Sec. 102) Authorizes the National Health Insurance Board to limit services when personnel, facilities, or funds are inadequate. (Sec. 103) Allows patient choice of physicians and hospitals. (Sec. 105) Makes Federal grants to States under the Social Security Act available to the States for services for uninsured needy individuals. Title II: Participation of Physicians, Dentists, Nurses, Hospitals, and Others - Authorizes State agreements with individuals or organizations for service provision. (Sec. 208) Regulates payment bases and rates, requiring local adjustments. (Sec. 210) Allows providers to choose their practice locality and, consistent with State law and professional ethics, reject patients. Title III: Local Administration - Decentralizes administration to local administrative committees or officers. (Sec. 303) Requires establishment in each health service area of a local area committee and local professional committees. Title IV: State Administration - Expresses the intent of the Congress that benefit provisions be administered by each State. Provides for Board administration if State plans are not approved and complied with. Title V: National Health Insurance Board; National Advisory Medical Policy Council; General Administrative Provisions - Establishes: (1) in the Department of Health and Human Services the National Health Insurance Board; and (2) the National Advisory Medical Policy Council. Title VI: Eligibility Determinations, Complaints, Hearings, and Judicial Review - Requires that the Secretary of Health and Human Services determine benefit eligibility. (Sec. 602) Describes complaint investigation procedures. Title VII: Application of Act to Individuals Covered Under Medicare Program - Limits, for individuals entitled to benefits under title XVIII (Medicare) of the Social Security Act, benefits under this Act to services for which the individual is not eligible under Medicare. (Sec. 702) Mandates a study of the relationship of this Act's program and Medicare. Title VIII: Fiscal Provisions - Makes National Health Care Trust Fund amounts available for expenditures under this Act. (Sec. 802) Directs the Board to determine amounts to be made available from the Fund and allotments to the States. (Sec. 803) Authorizes grants to: (1) educational institutions regarding the training of personnel providing or administering benefits; and (2) individuals in courses regarding the provision or administration of benefits. Requires that funds be made available. Title IX: Miscellaneous Provisions - Requires that benefits first become available on a specified date. Title X: Value Added Tax and National Health Care Trust Fund - Amends the Internal Revenue Code to impose a tax on each taxable transaction (the sale of property, performance of services, and importing of property by a taxable person in a commercial-type transaction). Sets the tax rate at zero for: (1) retail food, principal residence housing (sale and rental), and medical care; (2) certain transactions involving governmental entities; and (3) certain tax-exempt organizations. Makes the person selling the property or services liable for the tax. (Sec. 1002) Establishes the National Health Care Trust Fund. Appropriates to the Fund amounts received from the value added tax. Allows the Fund to be used only to carry out the program under this Act. Title XI: Study and Development of Cost Control Mechanisms - Directs the Secretary of Health and Human Services to: (1) conduct a study on controlling benefit costs, including malpractice claims and malpractice insurance costs; (2) report to the Congress; and (3) implement the report's recommendations.
United States · United States Congress · 6 January 1999
Women's Investment and Savings Equity Act of 1999 - Amends the Internal Revenue Code to permit retirement contributions to be made for periods during which individuals were on leave for maternity or paternity leave. Permits "catchup contributions" by parents returning to work after periods of nonparticipation in a plan. Defines "catchup contributions."
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to temporarily establish an employer tax credit of up to $2,500 annually for expenses incurred for each full-time employee receiving high technology job training.
United States · United States Congress · 6 January 1999
Affordable Housing Opportunity Act of 1999 - Amends the Internal Revenue Code to increase, and link to the cost-of-living adjustment, the State low-income housing credit ceiling.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to permit penalty-free distributions from an individual retirement account (IRA) for long- term care services and to pay certain medical expenses of certain lineal descendants and ancestors. Excludes from gross income certain distributions which are repaid. Expands penalty-free withdrawals for the unemployed for health insurance premiums. Increases deductible IRA contribution amounts, and provides for inflation indexing. Eliminates the phase-out for individuals who are not active participants in defined contribution plans, and increases applicable dollar amounts for taxpayers other than those married filing separately. Increases 401(k) plan contribution limits. Establishes an alternative method for satisfying nondiscrimination requirements. Excludes inherited IRAs and certain 401(k) plans from a decedent's gross estate. Allows a designated beneficiary of an inherited IRA to hold such IRA free of immediate distribution provisions. Allows inherited 401(k) amounts as nondeductible contributions to a beneficiary's IRA, and excludes such amounts from income if so contributed.
United States · United States Congress · 6 January 1999
Senior Tax Relief Act of 1999 - Amends the Internal Revenue Code (IRC) to repeal the tax increase on social security benefits enacted by the Revenue Reconciliation Act of 1993. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to remove the limitation on the amount of outside income which a beneficiary may earn (earnings test) without incurring a reduction in benefits. Amends the IRC to repeal the estate tax, gift tax, and the tax on generation-skipping transfers.
United States · United States Congress · 6 January 1999
Job Creation Act of 1999 - Amends the Internal Revenue Code to exclude net capital gain from the gross income of taxpayers other than corporations.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to require the disclosure, on employee pay statements, of employer contributions under the Federal Insurance Contributions Act.
United States · United States Congress · 6 January 1999
Self-Employed Health Affordability Act of 1999 - Amends the Internal Revenue Code to increase the deduction allowed for the health insurance costs of self-employed individuals to 100 percent.
United States · United States Congress · 6 January 1999
Small Business and Financial Institutions Tax Relief Act of 1999 - Amends the Internal Revenue Code to permit S corporation eligible shareholders to include individual retirement accounts. (Sec. 3) Excludes investment securities income held by a bank from passive income limits for purposes of S status termination. (Sec. 4) Increases the number of eligible S corporation shareholders. (Sec. 5) States that stock held by a bank director as required by banking regulations (director qualifying stock) shall not be considered a disqualifying second class of S corporation stock. (Sec. 6) Directs the Secretary of the Treasury to modify a certain Regulation to permit an S corporation bank to charge certain bad debt deductions over a related bad debt reserve recapture period. (Sec. 7) Includes all banks within the three-year deduction preference rule.
United States · United States Congress · 6 January 1999
Biennial Budget Act of 1999 - Amends the Congressional Budget Act of 1974 to revise the Federal and congressional budget processes by establishing a two-year budgeting and appropriations cycle and timetable. Revises the timetable with respect to the congressional budget process. (Sec. 4) Amends the Congressional Budget and Impoundment Control Act to define the budget biennium as the two consecutive fiscal years beginning on October 1 of any odd-numbered year. Makes conforming amendments to provisions regarding the congressional budget process. Revises provisions relating to the reconciliation process to: (1) raise the ceiling on debate in the Senate on any reported reconciliation measure from 20 to 100 hours; and (2) provide a point of order against consideration of reconciliation measures in the House of Representatives or the Senate which change any provision of law other than those which provide certain new budget or spending authority relating to Government corporations or gifts made to the United States, relate to revenues, or specify the amount of the public debt limit. (Sec. 5) Conforms provisions governing the President's budget to the biennial framework. (Sec. 6) Requires all Acts making regular appropriations for the support of the Government to be enacted for a biennium and to specify the amount of appropriations provided for each fiscal year in that period. (Sec. 7) Requires the heads of Federal agencies, the Comptroller General, and the heads of specified legislative branch agencies to provide requested information and assistance to the chairmen and ranking minority members of the House and Senate standing committees with respect to program administration. (Sec. 8) Makes conforming amendments regarding the biennial budget cycle to the Rules of the House of Representatives. (Sec. 9) Applies this Act to bienniums beginning after September 30, 2001.
United States · United States Congress · 6 January 1999
Family Retirement Savings Act of 1999 - Amends the Internal Revenue Code to allow a limited credit for contributions to individual retirement accounts.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to repeal the estate tax, gift tax, and the tax on generation-skipping transfers.
United States · United States Congress · 6 January 1999
Businesses Undergoing the Glitch (BUG) Act - Allows a capped deduction from gross income for the business costs of making computers and computer software year 2000 compliant.
United States · United States Congress · 6 January 1999
Surplus Protection Act of 1999 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to provide that the purpose of pay-as-you-go provisions is to ensure that legislation (currently, legislation enacted before FY 2002) affecting direct spending or receipts that results in a net budget increase (currently, increases the deficit) will trigger an offsetting sequestration, except to the extent that the total budget surplus exceeds the social security surplus. Extends pay-as-you-go and other specified provisions through FY 2009. Defines "budget increase" and "budget decrease" to mean, for purposes of pay-as-you-go provisions, an increase or decrease, respectively, in direct spending outlays or a decrease or increase, respectively, in receipts relative to the baseline. Requires a sequestration to offset the amount of any net budget (currently, deficit) increase caused by all direct spending and receipts legislation. Applies a sequestration for a fiscal year only to the extent that any surplus, before the sequestration in the total budget (which includes both on- and off-budget Government accounts), is less than the combined surplus for that year in the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.
United States · United States Congress · 6 January 1999
American Dream Tax Fairness Equity Act of 1997 - Amends the Internal Revenue Code to reduce the three-year capital gains rate to 15 percent. Revises provisions regulating the computation of estate and gift taxes and credits, basing the taxes and credits on capital gains. Requires a trust, on the death of any individual who contributed property to the trust, to recognize gain or loss as if that property was sold for its fair market value on the death date. Provides for the treatment of contributions by partnerships or corporations.
United States · United States Congress · 6 January 1999
Economic Growth Act of 1999 - Amends the Internal Revenue Code to reduce individual capital gains tax rates.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to allow a deduction (for both itemizers and nonitemizers) for health insurance premiums (including Medicare premiums) and for qualified long-term care insurance premiums.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to repeal the estate tax, gift tax, and the tax on generation-skipping transfers.
United States · United States Congress · 6 January 1999
Foreign Oil Displacement Act - Amends the Internal Revenue Code to allow an investment credit for carbonaceous fuels conversion facilities, defined as facilities for producing: (1) oil from shale and tar sands; (2) gas from geopressured brine, Devonian shale, coal seams, or a tight formation, or from biomass; and (3) liquid, gaseous, or solid synthetic fuels from coal (including lignite, standard anthracite, peat, and any byproduct from a coal, culm, or silt preparation facility containing fixed carbon and including such fuels when used as feedstocks). Provides for recapture.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to disregard certain Native American housing assistance in determining whether a building is federally subsidized for low-income housing credit purposes.
United States · United States Congress · 6 January 1999
TABLE OF CONTENTS: Title I: Findings; Need to Replace the Income Tax Title II: Simplified USA Tax for Individuals Title III: Simplified USA Tax for Business Title IV: Deferred Compensation Plans Title V: Repeal of Estate and Gift Taxes Title VI: Technical and Administrative Changes; Effective Dates Simplified USA Tax Act of 1999 - Title I: Findings; Need to Replace the Income Tax - Sets forth findings, the main features of the Simplified USA Tax System, and the concepts and structure of the Simplified USA Tax System. Title II: Simplified USA Tax for Individuals - Establishes a new chapter 1 of the Internal Revenue Code (IRC), "Simplified USA Tax for Individuals." Establishes tax rates at 15, 25, and 30 percent. Sets forth provisions defining gross income, exclusions from gross income, alimony and child support deductions, personal and dependency deductions, the family living allowance, the homeowner deduction, the education deduction (equal, as a general rule, to the sum of all qualified education expenses), the philanthropic transfer deduction, the kiddie tax (concerning taxable income of children), and tax credits (including allowing a payroll tax credit). Sets forth provisions concerning a Roth IRA, a deductible IRA, annuities, endowment contracts, and life insurance contracts. Permits contributions to a Roth IRA of up to the amount of an individual's adjusted gross income. Provides, as a general rule, for the exclusion from gross income of Roth IRA distributions. Sets forth provisions concerning basis, business transactions, and nonrecognition transactions. Establishes rules for exclusion from gross income, rules relating to deductions, and rules for the rental of real estate. Requires a trust or estate to prepay the Simplified USA Tax for individuals. Sets the tax rate at 30 percent on the taxable income of a trust or estate when the taxable income exceeds $3,800. Sets forth rules concerning trusts and estates, including rules for credits, deductions, trust income, distributions, beneficiaries, charitable remainder trusts, reversionary interests, and funeral trusts. Title III: Simplified USA Tax for Businesses - Renumbers the current chapter 2 (Tax on Self-Employment Income) of the IRC as chapter 3. Establishes a new chapter 2, "Simplified USA Tax for Businesses." States that the tax equals the amount by which the business tax exceeds the payroll tax credit. Defines the "business tax" as the sum of: (1) 8 percent of the portion of the gross profits of the business entity for the taxable year that does not exceed $150,000; and (2) 12 percent of such portion of the gross profits of the business entity for the taxable year that exceeds $150,000. Directs the Secretary to prescribe rules under which the gross profits of business entities under common control are aggregated for purposes of applying the benefit of the lower rate. States that such rules shall be similar to rules applicable under IRC sections 1551 (Disallowance of the benefits of the graduated corporate rates and accumulated credit) and 1561 (Limitations on certain multiple tax benefits in the case of controlled corporations). Defines the "payroll tax credit" as a credit for the social security, railroad retirement, and hospital insurance taxes paid by an employer. Sets forth subchapters governing: (1) the basic rules for the business tax; (2) capital contributions, mergers, acquisitions, and distributions; (3) accounting method rules; (4) land and rental property; (5) insurance and financial products; (6) financial intermediation and financial institutions; (7) tax-exempt organizations; (8) cooperatives; (9) sourcing rules; (10) business conducted in a possession; (11) the payroll tax credit; (12) the import tax (as a general rule, eleven percent of the customs value of property or services); and (12) transition, administration, and consolidated returns (permitted, if it would have been permitted under the IRC provisions governing consolidated returns and such provisions were applied by treating each business entity as a corporation and its owners or partners as shareholders). Repeals chapter 6 (Consolidated Returns) of the IRC. Title IV: Deferred Compensation Plans - Provides, in general, that subchapter D (Deferred Compensation) of chapter 1 of the IRC is saved. Title V: Repeal of Estate and Gift Taxes - Repeals Subtitle B (Estate and Gift Taxes) of the IRC. Title VI: Technical and Administrative Changes: Effective Dates - Renames the IRC the "USA Tax Code." Makes other amendments to the IRC which reflect the amendments made by this Act.
United States · United States Congress · 6 January 1999
Congressional Pay For Performance Act - Provides that if the Congress has not passed all general appropriation bills before the beginning of a fiscal year, then the permanent appropriation for the compensation of Members of Congress shall not be effective for such fiscal year. Makes it out of order for either the House of Representatives or the Senate to consider the legislative branch appropriation bill for any fiscal year until other general appropriation bills for such fiscal year have been presented to the President.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to qualify employment of displaced homemakers for the targeted jobs income tax credit. Defines "displaced homemaker" as an individual who: (1) has not worked in the labor force for at least five years but has, during those years, worked in the home providing unpaid services for family members; and (2) has been dependent on public assistance or on the income of another family member but is no longer supported by that income or is receiving public assistance on account of dependent children in the home.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to exclude from gross income any benefit administered by the Secretary of Veterans Affairs. (Current law excludes from gross income only qualified military benefits.)
United States · United States Congress · 6 January 1999
Family Heritage Preservation Act - Amends the Internal Revenue Code to repeal the estate tax, gift tax, and tax on generation-skipping transfers.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to exclude from gross income any benefit administered by the Secretary of Veterans Affairs. (Current law excludes from gross income only qualified military benefits.)
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to accelerate the phase in of the $1 million exclusion from the estate and gift taxes.
United States · United States Congress · 6 January 1999
Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office or the Joint Committee on Taxation, in making estimates for any bill or joint resolution that reduces any rate of Federal taxation, to base the estimate of the effect of such rate reduction on a dynamic estimate of the changes in Federal revenues expected to result from enactment of the tax rate provisions of the legislation. Defines "dynamic estimate" as a projection based in any part on assumptions concerning probable effects of macroeconomic feedback.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to permit: (1) annual carryover of up to $500 of unused nontaxable cafeteria plan and flexible spending arrangement benefits; or (2) such carryover to be distributed as taxable income, or rolled over tax free to certain retirement plans, an education individual retirement plan, or a medical savings account.
United States · United States Congress · 6 January 1999
Caddie Relief Act of 1999 - Amends the Internal Revenue Code to treat golf caddies performing services for nonprofessional golfers as nonemployees for employment tax purposes.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to repeal the tax increase on social security benefits enacted by the Revenue Reconciliation Act of 1993.
United States · United States Congress · 6 January 1999
Amends the Internal Revenue Code to repeal the estate tax, gift tax, and the tax on generation-skipping transfers.