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1,451 records in US in 2009

Records

Bill· HRH.R. 313 (111th)referred

Customs Business Fairness Act of 2009

United States · United States Congress · 8 January 2009

Customs Business Fairness Act of 2009 - Amends bankruptcy law to establish an 11th priority in a debtor's relief plan for the payment of unsecured claims of customs brokers and sureties for duties, taxes, or other charges paid by them to U.S. Customs and Border Protection on behalf of a debtor that imports merchandise entered for consumption within one year before the debtor's filing of a petition for relief.

Bill· HRH.R. 309 (111th)referred

American Heroes' Homeownership Assistance Act of 2009

United States · United States Congress · 8 January 2009

American Heroes' Homeownership Assistance Act of 2009 - Amends the Internal Revenue Code to allow current or former members of the Uniformed Services who perform duty in a combat zone between 2001 and 2010, or their surviving spouses, a one-time tax credit for 10% of the purchase price of a principal residence, up to $7,500. Limits such credit to residences purchased before January 1, 2011.

Bill· HRH.R. 308 (111th)referred

Hurricane and Tornado Mitigation Investment Act of 2009

United States · United States Congress · 8 January 2009

Hurricane and Tornado Mitigation Investment Act of 2009 - Amends the Internal Revenue Code to allow individual and business taxpayers in certain states a tax credit for 25% of their qualified hurricane and tornado mitigation property expenditures up to $5,000 for any taxable year. Defines such expenditures as expenditures in a dwelling unit to improve the strength of a roof deck attachment, create a secondary water barrier, improve the durability of a roof covering, brace gable-end walls, reinforce the connections between a roof and supporting wall, protect against windborne debris, or protect exterior doors and garages.

Bill· HRH.R. 342 (111th)referred

Heritage Homes Tax Incentive Act of 2009

United States · United States Congress · 8 January 2009

Heritage Homes Tax Incentive Act of 2009 - Amends the Internal Revenue Code to grant a tax deduction (whether or not the taxpayer itemizes deductions) for 125 percent of residence interest paid or accrued on acquisition indebtedness for heritage homes. Defines a "heritage home" as a taxpayer's principal residence that is at least 50 years old and a certified historic structure in a registered historic district.

Bill· HRH.R. 312 (111th)referred

Clean Energy Investment Act of 2009

United States · United States Congress · 8 January 2009

Clean Energy Investment Act of 2009 - Amends the Internal Revenue Code to extend through 2016 the tax credit for producing electricity from renewable resources.

Bill· SS. 24 (111th)referred

Strengthen the Earned Income Tax Credit Act of 2009

United States · United States Congress · 7 January 2009

Strengthen the Earned Income Tax Credit Act of 2009 - Amends the Internal Revenue Code to: (1) make permanent the reduction in the marriage penalty applicable to the earned income tax credit; (2) increase the rate of such credit for families with three or more children and for individuals without children; (3) modify earned income tax credit requirements relating to abandoned spouses and qualifying children; and (4) repeal provisions denying such credit for individuals with excessive investment income.

Bill· SS. 29 (111th)referred

Coverage Continuity Act

United States · United States Congress · 7 January 2009

Coverage Continuity Act - Amends the Internal Revenue Code to: (1) increase from 65 to 85% the rate of the tax credit for the health insurance costs of taxpayers who are Trade Adjustment Assistance (TAA) or Pension Benefit Guaranty Corporation (PBGC) benefit recipients; and (2) extend such tax credit to certain individuals who are eligible for health insurance continuation benefits under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Allows individuals whose eligibility for COBRA continuation coverage terminates between January 1, 2009, and December 31, 2009, to extend such coverage for an additional 12 months.

Bill· SS. 26 (111th)referred

Working Family Child Assistance Act

United States · United States Congress · 7 January 2009

Working Family Child Assistance Act - Amends the Internal Revenue Code to: (1) lower the income threshold used to calculate the refundable portion of the child tax credit; and (2) repeal the annual inflation adjustment to such threshold amount. Makes provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 modifying the child tax credit permanent.

Bill· HRH.R. 264 (111th)referred

Save America Comprehensive Immigration Act of 2009

United States · United States Congress · 7 January 2009

Save America Comprehensive Immigration Act of 2009 - Amends the Immigration and Nationality Act (INA) to provide increased protections and eligibility for family-sponsored immigrants. Directs the Secretary of State to establish a Board of Family-based Visa Appeals within the Department of State. Authorizes the Secretary of Homeland Security (Secretary) to deny a family-based immigration petition by a U.S. petitioner for an alien spouse or child if: (1) the petitioner is on the national sex offender registry for a conviction that resulted in more than one year's imprisonment; (2) the petitioner has failed to rebut such information within 90 days; and (3) granting the petition would put a spouse or child beneficiary in danger of sexual abuse. Directs the Secretary to establish the Task Force to Rescue Immigrant Victims of American Sex Offenders. Authorizes the Secretary to adjust the status of aliens who would otherwise be inadmissible (due to unlawful presence, document fraud, or other specified grounds of inadmissibility) if such aliens have been in the United States for at least five years and meet other requirements. Authorizes the emergency deployment of Border Patrol agents to a requesting border state. Sets forth provisions for Border Patrol acquisition and use of specified equipment. Directs the Secretary to: (1) provide for additional detention space for illegal aliens; (2) increase Border Patrol agents, airport and land border immigration inspectors, immigration enforcement officers, and fraud and document fraud investigators; (3) enhance Border Patrol training and operational facilities; (4) establish immigration, customs, and agriculture inspector occupations within the Bureau of Customs and Border Protection; (5) reestablish the Border Patrol anti-smuggling unit; (6) establish criminal investigator occupations within the Department of Homeland Security (DHS); (7) increase Border Patrol agent and investigator pay; (8) require foreign language training for appropriate DHS employees; and (9) establish the Fraudulent Documents Task Force. Redefines the term "law enforcement officer" under provisions of the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS) to include: (1) federal employees not otherwise covered by such term whose duties include the investigation or apprehension of suspected or convicted individuals and who are authorized to carry a firearm; and (2) Internal Revenue Service (IRS) employees whose duties are primarily the collection of delinquent taxes and the securing of delinquent returns. Authorizes S (witness or informant) nonimmigrant status for aliens in possession of critical reliable information concerning commercial alien smuggling or trafficking in immigration documents. Establishes a reward program to assist in eliminating immigration-related commercial document fraud operations. Sets forth unfair immigration-related employment practices. Requires petitioners for nonimmigrant labor to describe their efforts to recruit lawful permanent residents or U.S. citizens. Makes permanent an INA provision allowing adjustment of status of certain aliens for whom family-sponsored or employment-based applications or petitions were filed by a specified date. Lessens immigration consequences for minor criminal offenses. Eliminates retroactive changes in grounds of inadmissibility and removal. Amends criminal offense removal-related provisions. Increases the worldwide level of diversity immigrants. Authorizes adjustment of status for certain nationals or citizens of Haiti. Eliminates mandatory detention in expedited removal proceedings. Amends the Haitian Refugee Immigration Fairness Act of 1998 to: (1) waive document fraud as a ground of inadmissibility; and (2) address determinations with respect to children. Eliminates the one-year filing requirement for asylum applicants. Includes gender persecution within the particular social group category of persecution. Provides for the permanent resident status adjustment of certain temporary protected status persons. Amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to eliminate a provision prohibiting restrictions on the communication of immigration status information by a government entity. Replaces the existing fashion model H-1B visa classification with an O-visa classification.

Bill· HRH.R. 267 (111th)referred

Expanding Tax Assistance Act of 2009

United States · United States Congress · 7 January 2009

Expanding Tax Assistance Act of 2009 - Amends the Internal Revenue Code to direct the Secretary of the Treasury, subject to available funding, to expand Taxpayer Assistance Centers with the goal of providing at least one Center in each congressional district. Authorizes the use of volunteers and private contractors and grants to accomplish the expansion of such Centers.

Bill· HRH.R. 271 (111th)referred

To amend the Internal Revenue Code of 1986 to increase the standard charitable mileage rate for delivery of meals to elderly, disabled, frail and at risk individuals.

United States · United States Congress · 7 January 2009

Amends the Internal Revenue Code to increase to 58.5 cents per mile the standard mileage rate for the tax deduction for the charitable use of a passenger automobile to deliver meals to homebound individuals who are elderly, disabled, frail, or at risk.

Bill· HRH.R. 237 (111th)referred

Military Retiree Health Care Relief Act of 2009

United States · United States Congress · 7 January 2009

Military Retiree Health Care Relief Act of 2009 - Amends the Internal Revenue Code to allow a refundable tax credit for premiums paid to enroll military retirees and their spouses and surviving spouses for supplementary medical insurance under part B of title XVIII (Medicare) of the Social Security Act.

Bill· HRH.R. 273 (111th)referred

To amend the Internal Revenue Code of 1986 to modify the treatment of qualified restaurant property as 15-year property for purposes of the depreciation deduction.

United States · United States Congress · 7 January 2009

Amends the Internal Revenue Code to make permanent the 15-year recovery period for purposes of the tax deduction for depreciation of qualified restaurant property. Revises the term "qualified restaurant property" to include existing buildings as well as improvements to buildings.

Bill· HRH.R. 282 (111th)referred

Delay Congressional Pay Raise Act

United States · United States Congress · 7 January 2009

Delay Congressional Pay Raise Act - Declares that no automatic pay adjustment shall be considered to have taken effect in FY2010 in the rates of basic pay for Members of Congress under the General Schedule (thus eliminating the pay adjustment for Members for such fiscal year).

Bill· HRH.R. 240 (111th)referred

Individual AMT Repeal Act of 2009

United States · United States Congress · 7 January 2009

Individual AMT Repeal Act of 2009 - Amends the Internal Revenue Code to eliminate the alternative minimum tax on individual taxpayers for taxable years beginning after 2008.

Bill· HRH.R. 272 (111th)referred

Freight Rail Infrastructure Capacity Expansion Act of 2009

United States · United States Congress · 7 January 2009

Freight Rail Infrastructure Capacity Expansion Act of 2009 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property; and (2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2012.

Bill· HJRESH.J.Res. 7 (111th)referred

Proposing an amendment to the Constitution to provide for a balanced budget for the United States Government and for greater accountability in the enactment of tax legislation.

United States · United States Congress · 7 January 2009

Constitutional Amendment - Requires Congress and the President, before each fiscal year, to agree on an estimate of total receipts for that fiscal year by enactment into law of a joint resolution devoted solely to that subject. Prohibits outlays for such fiscal year (except those for repayment of debt principal) from exceeding such estimated receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths rollcall vote of each chamber, authorizes a specific excess of outlays over estimated receipts. Provides that whenever actual outlays exceed actual receipts for any fiscal year, Congress shall, in the ensuing fiscal year, provide by law for the repayment of such excess. Requires a three-fifths rollcall vote of each chamber to increase the public debt limit. Directs the President to submit a balanced budget to Congress annually. Prohibits any bill to increase revenue from becoming law unless approved by a majority of each chamber by rollcall vote. Authorizes waivers of these provisions when a declaration of war is in effect.

Bill· SS. 155 (111th)referred

Unemployment Benefit Tax Suspension Act of 2009

United States · United States Congress · 6 January 2009

Unemployment Benefit Tax Suspension Act of 2009 - Amends the Internal Revenue Code to suspend, for taxable years beginning after December 31, 2007, and before January 1, 2010, the taxation of unemployment compensation.

Bill· SS. 154 (111th)referred

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

United States · United States Congress · 6 January 2009

Expresses the sense of Congress that it is necessary to ensure that 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, using among other methods dynamic estimating techniques, 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.

Bill· SS. 157 (111th)referred

Retirement Account Distribution Improvement Act of 2009

United States · United States Congress · 6 January 2009

Retirement Account Distribution Improvement Act of 2009 - Amends the Internal Revenue Code to suspend in 2008, 2009, and 2010 requirements for minimum distributions from tax-deferred retirement plans. Permits taxpayers who have already received a minimum distribution in 2008 or before July 1, 2009, to recontribute such distribution to their retirement plans by July 1, 2009.

Bill· SS. 143 (111th)referred

College Opportunity Tax Credit Act of 2009

United States · United States Congress · 6 January 2009

College Opportunity Tax Credit Act of 2009 - Amends the Internal Revenue Code to increase in 2009 and 2010: (1) the Hope Scholarship tax credit to allow a refundable credit for 100% of qualified tuition and related expenses up to $2,000 and for 50% of such expenses between $2,000 and $6,000; and (2) the lifetime learning tax credit to allow a nonrefundable tax credit for 40% of qualified tuition and related expenses up to $1,000 and for 20% of such expenses between $1,000 and $3,000. Allows the Hope Scholarship tax credit for four years of undergraduate coursework (currently, two years).

Bill· SS. 85 (111th)referred

Title X Family Planning Act

United States · United States Congress · 6 January 2009

Title X Family Planning Act - Amends the Public Health Service Act to prohibit federal family planning funds from being awarded to any grantees who perform abortions or whose subgrantees perform abortions, except where a woman suffers from a physical disorder, physical injury, or physical illness that would, as certified by a physician, place the woman in danger of death unless an abortion is performed. (Current law prohibits such funds from being used in programs where abortion is a method of family planning.) Excludes hospitals from such provisions as long as the hospital does not subgrant to a non-hospital entity that performs abortions. Requires the Secretary of Health and Human Services to submit to Congress a list of grantees who perform abortions, regardless of how such abortions are funded. Makes such a grantee ineligible for family planning funds for subsequent fiscal years unless the grantee certifies that neither the grantee nor any subgrantee performs abortions that are not explicitly permitted under this Act.

Bill· SS. 94 (111th)referred

Long-Term Care Family Accessibility Act

United States · United States Congress · 6 January 2009

Long-Term Care Family Accessibility Act - Amends the Internal Revenue Code to allow an income-based tax credit for 50% of the first $4,000 of premiums paid for long-term care insurance coverage of a taxpayer or a taxpayer's family member or dependent.

Bill· SS. 74 (111th)referred

Permanent Marriage Penalty Relief Act of 2009

United States · United States Congress · 6 January 2009

Permanent Marriage Penalty Relief Act of 2009 - Makes permanent provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Working Families Tax Relief Act of 2004 that eliminate the marriage penalty in the standard deduction, the 15-percent tax bracket, and the earned income tax credit.

Bill· SS. 91 (111th)referred

A bill to reduce the amount of financial assistance provided to the Government of Mexico in response to the illegal border crossings from Mexico into the United States, which serve to dissipate the political discontent with the higher unemployment rate within Mexico.

United States · United States Congress · 6 January 2009

Directs the Secretary of State to: (1) annually estimate the number of illegal border crossings along the southern U.S. land border; and (2) reduce financial assistance to the government of Mexico by a total of $1,000 for each illegal border crossing from Mexico to the United States during the previous fiscal year. Authorizes the Secretary to not reduce appropriations for the government of Mexico from the International Military Education and Training Fund, the International Narcotics Control and Law Enforcement Fund, and the fund to carry out nonproliferation, anti-terrorism, demining, and related programs and activities.

Bill· SS. 99 (111th)referred

Ethical Stem Cell Research Tax Credit Act of 2009

United States · United States Congress · 6 January 2009

Ethical Stem Cell Research Tax Credit Act of 2009 - Amends the Internal Revenue Code to allow a tax credit for 30% of qualified stem cell research expenses paid or incurred in a taxable year. Defines "qualified stem cell research expenses" as expenses for carrying out basic and applied research to develop techniques for the isolation, derivation, production, testing, and human clinical use of stem cells that may result in improved understanding of or treatments for diseases and other adverse health conditions. Prohibits a tax credit for any research expenses that may involve: (1) the creation of a human embryo for research purposes; (2) the destruction of or discarding of, or risk of injury to, a human embryo; or (3) the use of any stem cell for prohibited purposes.

Bill· SS. 71 (111th)referred

Telephone Excise Tax Repeal Act of 2009

United States · United States Congress · 6 January 2009

Telephone Excise Tax Repeal Act of 2009 - Amends the Internal Revenue Code to repeal the excise tax on communication services (i.e., local telephone service, toll telephone service, and teletypewriter exchange service).

Bill· SS. 158 (111th)referred

A bill to amend the Internal Revenue Code of 1986 to expand the availability of industrial development bonds to facilities manufacturing intangible property.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to: (1) qualify manufacturing facilities that create intangible property for tax-exempt bond financing; and (2) revise the definition of "manufacturing facility" for purposes of certain limitations on tax-exempt bond financing to include facilities which are functionally related and subordinate to a manufacturing facility.

Bill· SS. 5 (111th)open

Cleaner, Greener, and Smarter Act of 2009

United States · United States Congress · 6 January 2009

Cleaner, Greener, and Smarter Act of 2009 - Calls for the enactment of legislation to improve the economy and the security of the United States by reducing U.S. dependence on foreign and unsustainable energy sources and the risks of global warming by: (1) making and encouraging significant investments in green job creation and clean energy across the economy; (2) diversifying and rapidly expanding the use of secure, efficient, and environmentally friendly energy supplies and technologies; (3) transforming U.S. infrastructure to make the infrastructure sustainable and the United States more competitive globally, including transmission grid modernization and transportation sector electrification; (4) requiring reductions in emissions of greenhouse gases (GHG) in the United States and achieving reductions in emissions of GHGs abroad; (5) protecting consumers from volatile energy prices through better market oversight and enhanced energy efficiency standards and incentives; and (6) eliminating wasteful and unnecessary tax breaks and giveaways that fail to move the United States toward a more competitive and cleaner energy future.

Bill· SS. 33 (111th)open

A bill to amend the Internal Revenue Code of 1986 with respect to the proper tax treatment of certain indebtedness discharged in 2009 or 2010, and for other purposes.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to allow an exclusion from gross income for income attributable to the discharge of indebtedness relating to securities issued by certain financial entities and discharged after December 31, 2008, and before January 1, 2011.

Bill· SS. 7 (111th)open

Education Opportunity Act of 2009

United States · United States Congress · 6 January 2009

Education Opportunity Act of 2009 - Expresses the sense of Congress that it should pass, and the President should sign into law, legislation that expands educational opportunities for all Americans by enhancing: (1) access to high-quality early childhood education, child care, and after school and extended learning services; (2) secondary and post-secondary graduation rates; (3) educational innovation, standards, and assessments; (4) the recruitment and retention of high-quality teachers by high-need schools; (5) mathematics and science instruction; and (6) federal grant aid and tax incentives to make higher education more affordable.

Bill· SS. 1 (111th)open

American Recovery and Reinvestment Act of 2009

United States · United States Congress · 6 January 2009

American Recovery and Reinvestment Act of 2009 - Calls for the enactment of legislation to create jobs, restore economic growth, and strengthen America's middle class through measures that: (1) modernize the nation's infrastructure; (2) enhance America's energy independence; (3) expand educational opportunities; (4) preserve and improve affordable health care; (5) provide tax relief; and (6) protect those in greatest need.

Bill· SS. 3 (111th)open

Homeowner Protection and Wall Street Accountability Act of 2009

United States · United States Congress · 6 January 2009

Homeowner Protection and Wall Street Accountability Act of 2009 - Expresses the sense of Congress that Congress should enact, and the President should sign, legislation to: (1) stabilize the housing market and assist homeowners by imposing a temporary moratorium on foreclosures, removing impediments to the modification of distressed mortgages, creating tax and other incentives to help prevent foreclosures and encourage refinancing into affordable and sustainable mortgage solutions, and pursuing other foreclosure-prevention policies through the Troubled Asset Relief Program (TARP) or other programs; (2) ensure the safety and soundness of the U.S. financial system for investors by reforming the financial-regulatory system, strengthening systemic-risk regulation, enhancing market transparency, and increasing consumer protections in financial regulation to prevent predatory lending practices; (3) ensure credit-card accountability, responsibility, and disclosure; and (4) stabilize credit markets for small-business lenders to enhance their ability to make loans to small firms, and stimulate the small-business loan markets by temporarily streamlining and investing in the loan programs of the Small Business Administration (SBA).

Bill· SS. 44 (111th)referred

A bill to amend the Internal Revenue Code of 1986 to treat income earned by mutual funds from exchange-traded funds holding precious metal bullion as qualifying income.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to treat income earned by mutual funds from interests holding certain gold, silver, platinum, or palladium bullion that are regularly traded on an established U.S. securities market as qualifying income (i.e., passed through and taxed at individual income tax rates).

Bill· SS. 83 (111th)referred

A bill to amend the Internal Revenue Code of 1986 to expand the Coverdell education savings accounts to allow home school education expenses, and for other purposes.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to allow: (1) payment of home school expenses from Coverdell education savings accounts; and (2) an annual inflation adjustment after 2009 to the contribution limit amount for such accounts. Makes permanent provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 relating to Coverdell education savings accounts, including an increase in the contribution limit amount for such accounts.

Bill· SS. 138 (111th)referred

A bill to amend the Internal Revenue Code of 1986 to repeal alternative minimum tax limitations on private activity bond interest, and for other purposes.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to exempt interest earned on tax-exempt private activity bonds from the alternative minimum tax (AMT) and to exclude such interest as an adjustment to current earnings for purposes of computing alternative minimum taxable income.

Bill· SS. 47 (111th)referred

Telephone Excise Tax Repeal Act of 2009

United States · United States Congress · 6 January 2009

Telephone Excise Tax Repeal Act of 2009 - Amends the Internal Revenue Code to repeal the excise tax on communication services (i.e., local telephone service, toll telephone service, and teletypewriter exchange service).

Bill· SS. 31 (111th)referred

A bill to amend the Internal Revenue Code of 1986 with respect to the proper tax treatment of certain indebtedness discharged in 2009 or 2010, and for other purposes.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to allow an exclusion from gross income for income attributable to the discharge of indebtedness relating to securities issued by certain financial entities and discharged after December 31, 2008, and before January 1, 2011.

Bill· SS. 43 (111th)referred

Permanent Internet Tax Freedom Act of 2009

United States · United States Congress · 6 January 2009

Permanent Internet Tax Freedom Act of 2009 - Amends the Internet Tax Freedom Act to make permanent the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce.

Bill· SS. 156 (111th)referred

Small Business Stimulus Act of 2009

United States · United States Congress · 6 January 2009

Small Business Stimulus Act of 2009 - Amends the Internal Revenue Code to: (1) extend through 2010 the increased expensing allowance for depreciable business assets; and (2) extend from two to five years the carryback period for net operating losses incurred in 2008 or 2009.

Bill· SS. 78 (111th)referred

Invest in Small Business Act of 2009

United States · United States Congress · 6 January 2009

Invest in Small Business Act of 2009 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of gain from the sale or exchange of qualified small business stock from 50 to 100 % of such gain and to reduce the required holding period for such stock from five to four years; (2) deny a tax exclusion for small business stock held by a 25% controlled corporate group; (3) repeal as an item of tax preference under the alternative minimum tax the exclusion of gain from the sale of small business stock; (4) repeal the 28% income tax rate on the gain from the sale of small business stock which is not excluded from gross income; (5) revise the definition of "qualified small business" for certain tax purposes to mean a C corporation with aggregate gross assets not exceeding $100 million (currently, $50 million); and (6) provide for an annual inflation adjustment to the small business aggregate gross asset amount after 2009.

Bill· SS. 58 (111th)referred

A bill to amend the Internal Revenue Code of 1986 to modify the application of the tonnage tax on vessels operating in the dual United States domestic and foreign trades, and for other purposes.

United States · United States Congress · 6 January 2009

Amends the Internal Revenue Code to modify the alternative tax on qualifying shipping activities to treat a corporation electing such tax as continuing to use a qualifying vessel in the U.S. foreign trade during any period of use in the U.S. domestic trade, thus eliminating the 30 day limitation on operating in U.S. domestic trade under current law.

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