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Bill· HRH.R. 7116 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to permit an exemption of the first $10,000 of retirement income received by a taxpayer under a public retirement system or any other system if the taxpayer is at least 65 years of age, is disabled, or is handicapped.

United States · United States Congress · 15 September 1982

Amends the Internal Revenue Code to allow pensioners under a public retirement system, other retirees who are aged 65 or over, and disabled or handicapped a $10,000 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.

Bill· SJRESS.J.Res. 245 (97th)open

A joint resolution making an urgent supplemental appropriation for the Department of Labor for the fiscal year ending September 30, 1982.

United States · United States Congress · 14 September 1982

Makes supplemental appropriations to the Department of Labor. Appropriates to the Department a sum equal to five percent of the latest estimated cost to the Government of unemployment compensation for the current fiscal year, to remain available until December 31, 1982. Requires that, of such sum: (1) 85 percent shall be available to provide productive jobs for unemployed individuals; and (2) 15 percent shall be available for the Department's youth and training programs. Prohibits individuals assisted with funds under this Act from being: (1) eligible for unemployment compensation during the period of productive job employment; or (2) paid except upon written certification by the supervisor that such job was performed. Sets forth requirements for individual eligibility, wage rates, and employment benefits and conditions with respect to such jobs. Prohibits any displacement of currently employed workers by individuals employed with funds under this Act. Limits the percentage of funds which may be used for administration and equipment costs. Permits funds to be used to provide unemployed individuals with temporary employment for not more than six months in repair, maintenance, and rehabilitation of public facilities and conservation, rehabilitation, and improvement of public lands. Sets forth provisions for allocation of such funds. Allocates 83 percent of such funds among eligible entities with unemployment above the national average rate for the preceding three months. Provides that 50 percent of such allocation shall be based on the relative number of unemployed, 25 percent on the number of unemployed living in areas of substantial unemployment, and 25 percent on the number of unemployed in excess of four and one-half percent of the labor force. Allocates two percent of such funds among Native American tribes, bands, and groups. Allocates the remainder to specified entities to serve localities which have had: (1) a large scale loss of jobs caused by the closing of a facility, mass layoffs, natural disasters, or similar circumstances; or (2) a sudden or severe economic dislocation. Sets forth requirements for eligible entities, including States, local governments, and rural area concentrated employment program grantees. Directs the Secretary of Labor, within 30 days after enactment of this Act, to: (1) notify recipients of the allocation of funds; and (2) promulgate necessary rules and regulations to carry out this Act.

Law· HRH.R. 7093 (97th)enacted

An act to amend the Internal Revenue Code of 1954 to reduce the rate of certain taxes paid to the Virgin Islands on Virgin Islands source income, to amend the Social Security Act to provide for a temporary period that payment of disability benefits may continue through the hearing stage of the appeals process, and for other purposes.

United States · United States Congress · 14 September 1982

Amends the Internal Revenue Code to reduce to ten percent the income tax rate on Virgin Islands source income and provide for corresponding reductions in tax withholding.

Bill· HRH.R. 7099 (97th)referred

A bill to repeal the provisions of the Omnibus Budget Reconciliation Act of 1982 which reduce the pay of certain Federal employees who are retired members of the uniformed services by the amount of the cost-of-living adjustments in their retired or retainer pay during fiscal years 1983, 1984, and 1985.

United States · United States Congress · 14 September 1982

Repeals specified provisions of the Omnibus Budget Reconciliation Act of 1982 which reduce the pay of members or former members of the uniformed services holding Federal civilian positions by the amount of any cost of living increase in their retired or retainer pay during FY 1983 through 1985.

Bill· HRH.R. 7092 (97th)open

Highway Revenue Act of 1982

United States · United States Congress · 14 September 1982

Highway Revenue Act of 1982 - Amends the Internal Revenue Code to extend for one year from 1984 to 1985 the excise taxes on: (1) diesel fuel and special motor fuels; (2) trucks, buses, etc.; (3) parts and accessories; (4) tires and tubes; (5) gasoline; (6) use of highway motor vehicles; and (7) gasoline used for nonhighway purposes or by local transit systems. Transfers current provisions relating to the Highway Trust Fund to the Trust Fund Code of the Internal Revenue Code. Sets forth rules for the administration of such trust fund.

Bill· HRH.R. 7090 (97th)referred

A bill to repeal the provisions of the Omnibus Budget Reconciliation Act of 1982 which, for fiscal years 1983, 1984, and 1985, reduce and delay cost-of-living increases in annuities and retired or retainer pay based on Government service and reduce, in relation to the amount of such increases, the pay of members and former members of the uniformed services for their service in Federal civilian positions.

United States · United States Congress · 13 September 1982

Repeals specified provisions of the Omnibus Budget Reconciliation Act of 1982 which for FY 1983 through 1985: (1) reduce and delay cost of living increases in annuities and retired or retainer pay based on Government service; and (2) reduce, in relation to the amount of such increases, the pay of members and former members of the uniformed services holding Federal civilian positions.

Bill· SS. 2890 (97th)open

Severance Tax Equity Act of 1982

United States · United States Congress · 10 September 1982

Severance Tax Equity Act of 1982 - Limits the amount of severance taxes imposed by States on oil, natural gas, and coal. Sets such limit at the amount of costs incurred by a State which are directly attributable to the production within the State of crude oil, natural gas or coal. Sets forth enforcement procedures. Allows the Attorney General or any person who pays a severance tax to bring a civil action in a district court of the United States in order to enforce such limitation.

Bill· SS. 2887 (97th)open

Personal Income Tax Reform Act of 1982

United States · United States Congress · 9 September 1982

Personal Income Tax Reform Act of 1982 - Title I: Reduction of Income Tax Rates - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of 12 percent for all individuals, estates, and trusts. Imposes a surtax (ranging from eight to 24 percent) on the adjusted gross income of single taxpayers earning over $25,000 and married taxpayers earning over $40,000. Reduces the personal holding company tax from 50 to 36 percent. Repeals the 1985 indexation of tax rates. Redefines "adjusted gross income" to repeal the deductions for: (1) long-term capital gains; (2) amortization of reforestation expenses; and (3) two-earner married couples. Provides that certain special deductions for estate and trusts shall be subtracted from adjusted gross income. Increases the amount of the personal exemption to $1500 for single taxpayers and $1750 for heads of households. Allows an additional $1000 exemption for the dependent spouse of a taxpayer filing a joint return. Increases the zero bracket amount from $3400 to $4600 for taxpayers filing joint returns and surviving spouses. Repeals the direct charitable contribution deduction. Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to revise tax return filing requirements to reflect the increased personal exemption, in the case of 65-year-old taxpayers and taxpayers filing joint returns. Revises requirements for withholding allowances to correspond with the increased personal exemption. Repeals the minimum tax on individual taxpayers. Repeals provisions which allow income averaging. Title II: Broadening of the Income Tax Base - Repeals the tax credits for: (1) the elderly; (2) political contributions; and (3) residential energy conservation. Limits the availability of the following tax credits to certain corporations: (1) the investment tax credit; (2) the new employee credit; (3) the credit for producing fuel from a nonconventional source; (4) the alcohol fuel credit; and (5) the credit for increasing research activities. Repeals the exclusion from gross income of employer-provided premiums on group-term life insurance and the exclusion of unemployment compensation benefits. Requires the inclusion in gross income of interest income on life insurance, annuity or endowment contracts. Repeals the following tax exclusions: (1) dividends received by individuals; (2) employer-provided group legal services; (3) employer-provided transportation expenses; (4) employer-provided educational assistance; and (5) interest received after 1984. Repeals the tax exclusion of: (1) employer-provided child care assistance; (2) earned income of U.S. citizens living abroad; (3) certain disability payments; (4) dividend reinvestment in public utility stock; and (5) interest on industrial development bonds and veterans' mortgage bonds received by individual taxpayers. Requires the inclusion in gross income of one-third of employer contributions to medical care plans (other than workmen's compensation). Modifies the exclusion of scholarship and fellowship grants to require that an eligible recipient be a degree candidate at a tax-exempt educational institution. Disallows the exclusion of payments for teaching, research, or other services unless all degree candidates are required to perform such services. Repeals the tax deductions for: (1) two-earner married couples; (2) adoption expenses; and (3) long-term capital gains. Provides that no distinction shall be made between short-term and long-term capital gains in the case of individual taxpayers. Disallows the tax deductions to individual taxpayers for: (1) amortization of pollution control facilities; (2) amortization of reforestation expenditures; (3) intangible drilling and development costs for oil, gas, and geothermal wells; (4) percentage depletion; (5) mineral development and mine exploration expenses; and (6) certain State and local taxes. Repeals the tax deduction for the casualty and theft losses of individuals. Limits the deduction for interest on investment indebtedness for individual taxpayers to the amount of investment income. Provides that such limitation shall not apply to trade or business indebtedness and indebtedness incurred in acquiring or rehabilitating a qualified dwelling or principal residence of the taxpayer. Modifies the accelerated cost recovery schedules to provide that increased percentages for property placed in service after 1984 and after 1985 shall only be available to certain corporations. Reduces the depreciation deduction for 15-year real property in the case of individual taxpayers. Repeals the business expense deduction for business meals. Repeals the tax credit for household and dependent care services necessary for gainful employment and replaces such credit with a tax deduction for employment-related expenses. Limits such deduction to $2,400 for taxpayers with one dependent and $4,800 for taxpayers with two or more dependents. Revises requirements for the deduction for $125,000 of gain from the sale of a principal residence by an individual over age 55. Revises the definition of "Section 11 corporation". Title III: Taxation of Individual Retirement Accounts and Qualified Pension, Profit-Sharing, and Stock Bonus Plans - Imposes a 14 percent tax on the investment income of retirement trusts, including pensions, individual retirement accounts, and other retirement plans. Repeals the tax-exempt status of certain pension, profit-sharing, stock bonus plans, and individual retirement accounts. Repeals the tax on lump-sum distributions from qualified pension plans. Title IV: Conforming Amendments; Effective Dates - Directs the Secretary of the Treasury to submit a legislative proposal for implementing this Act to Congress. Sets forth effective dates for the provisions of this Act.

Law· HRH.R. 7072 (97th)enacted

A bill making appropriations for Agriculture, Rural Development, and Related Agencies programs for the fiscal year ending September 30, 1983, and for other purposes.

United States · United States Congress · 9 September 1982

Title I: Agricultural Programs - Appropriates FY 1983 Department of Agriculture (USDA), rural affairs, and related program funds for: (1) the Office of the Secretary of Agriculture; (2) standard level user fees; (3) advisory committees; (4) administrative expenses; (5) the Office of Governmental and Public Affairs; (6) the Office of Congressional Affairs; (7) the Office of the Inspector General; (8) the Office of the General Counsel; (9) the Federal Grain Inspection Service; (10) inspection and weighing services; (11) the Agricultural Research Service (ARS); (12) ARS buildings and facilities; (13) overseas scientific activities (foreign currency program); (14) the Cooperative State Research Service; (15) the Extension Service; (16) the National Agricultural Library; (17) the Animal and Plant Health Inspection Service; (18) buildings and facilities, generally; (19) the Food Safety and Inspection Service; (20) the Economic Research Service; (21) the Statistical Reporting Service; (22) the Agricultural Cooperative Service; (23) the World Agricultural Outlook Board; (24) the Agricultural Marketing Service (marketing services, administrative expenses, market strengthening, transportation office, and payments to States and possessions); (25) the Packers and Stockyards Administration; (26) the Agricultural Stabilization and Conservation Service (salaries and expenses and the dairy indemnity program); (27) the Federal Crop Insurance Corporation (administrative expenses, capital stock subscription, and the Federal Crop Insurance Corporation Fund); and (28) the Commodity Credit Corporation (net losses reimbursement and direct loan levels). Title II: Rural Development Programs - Appropriates FY 1983 funds for: (1) the Office of Rural Development Policy; (2) the Farmers Home Administration (Rural Housing Insurance Fund, Agricultural Credit Insurance Fund, Rural Development Insurance Fund, Rural Water and Waste Disposal Grants, Very-Low Income Housing Repair Grants, Rural Housing for Domestic Farm Labor, Mutual and Self-Help Housing, Rural Community Fire Protection Grants, construction defects compensation, and salaries); (3) Rural Electrification Administration (Rural Electrification and Telephone Revolving Fund, Rural Telephone Bank, Rural Communication Development Fund, and salaries and expenses); (4) Soil Conservation Service (operations, river basin surveys, watershed planning and flood prevention, resource conservation, and Great Plains Conservation Program); and (5) Agricultural Stabilization and Conservation Service (agricultural conservation, forestry incentive program, and water bank program). Title III: Domestic Food Programs - Appropriates FY 1983 funds for: (1) the Food and Nutrition Service (child nutrition programs, special milk program, WIC (women, infants, and children) feeding program, commodity supplemental food program, food stamps, nutrition assistance for Puerto Rico, food donation programs, and administrative expenses); and (2) the Human Nutrition Information Service. Title IV: International Programs - Appropriates FY 1983 funds for: (1) the Foreign Agricultural Service (including the general sales manager); (2) Public Law 480; and (3) the Office of International Cooperation and Development. Title V: Related Agencies - Appropriates FY 1983 funds for: (1) the Food and Drug Administration (salaries, and standard level user charges); (2) the Commodity Futures Trading Commission; and (3) the Farm Credit Administration. Title VI: General Provisions - Requires consulting contracts to be available for public inspection unless otherwise provided for. Makes funds available for: (1) vehicle purchases; (2) uniforms and allowances; (3) research and service contracts; (4) Working Capital Fund transfers; and (5) publications translation, orientation, and language training. Prohibits funds to be paid to any person who harvests marihuana or drug-producing plants for illegal use. Prohibits appropriations remaining available beyond FY 1983 unless expressly provided for. Authorizes the use of USDA employees as needed on an intermittent basis among the various agencies of the USDA. Excludes overtime and disaster periods from consideration with respect to ceilings on full-time equivalent staff years. States that specified beneficial home ownership certificates sold by the Farmers Home Administration shall not be less than 75 percent of the value of the loans closed during FY 1983. Prohibits funds from being used to: (1) phase out the Resource Conservation and Development Program; and (2) pay more than ten percent of the indirect cost rates of specified cooperative agreements between the USDA and nonprofit institutions. Exempts specified watershed projects from the requirements of Executive Orders 12113 and 12141. Authorizes the distribution of surplus agricultural commodities to needy persons. Prohibits Federal funds from being paid in FY 1983 on any form of U.S. loan guarantee with respect to credits on loans made to Poland unless: (1) Poland has been declared in default to the particular creditor; or (2) the President has provided Congress with a monthly written report explaining how U.S. national interest has been served by payments made on such Polish loans in the absence of a declaration of default. Prohibits standard level user charge reimbursements to the General Services Administration in excess of 1982 levels.

Bill· HRH.R. 7087 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a refundable tax credit for taxpayers who maintain households which include elderly persons who are determined by a physician to be disabled.

United States · United States Congress · 9 September 1982

Amends the Internal Revenue Code to allow an income tax credit to any individual who maintains a household which includes one or more elderly qualified persons. Sets the amount of such credit at $1,000 for each such elderly person living in the household. Limits the aggregate amount creditable to $2,000 on any return for the taxable year. Defines "qualified elderly person" as any individual who: (1) has attained age 65; (2) has an impairment which, as determined by a physician, renders such individual physically or mentally incapable of caring for himself and has lasted or is expected to last six months or longer; and (3) has as a principal place of abode for more than half of the taxable year the home of the taxpayer.

Bill· HRH.R. 7075 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a one-time exclusion of gain from the sale of a principal residence by a taxpayer who engages in such sale because he or a member of his family has become disabled, and for other purposes.

United States · United States Congress · 9 September 1982

Amends the Internal Revenue Code to extend the one-time exclusion of gain from the sale of a principal residence for persons aged 55 or over to a taxpayer who sells because the taxpayer or a member of the taxpayer's family has become disabled.

Bill· HRH.R. 7074 (97th)referred

A bill to amend section 151 of the Internal Revenue Code of 1954 to provide an additional exemption for disabled individuals who need assistance in the form of attendant care services or medical devices in order to be employed or whose disabilities are so severe that such assistance would not enable such individuals to be employed.

United States · United States Congress · 9 September 1982

Amends the Internal Revenue Code to allow an additional personal tax exemption for a taxpayer or spouse who is disabled. Defines disability to mean any disability (other than blindness) which is expected to last for a continuous period of at least 12 months or to result in death and which results in a functional limitation to employment.

Law· HRH.R. 7065 (97th)enacted

A bill to amend the Community Services Block Grant Act to clarify the authority of the Secretary of Health and Human Services to designate community action agencies for certain community action programs administered by the Secretary for fiscal year 1982, and for other purposes.

United States · United States Congress · 8 September 1982

Amends the Community Services Block Grant Act to authorize the Secretary of Health and Human Services to designate a replacement agency for a community action agency terminated or denied funding by the Secretary during FY 1982. States that such designated replacement agency shall receive community services block grant funds through FY 1983. Permits reinstatement of a replaced agency if a final determination to restore funding is made before the State begins operating programs with the designated new agency.

Bill· HRH.R. 7067 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that in the case of individuals who attain age 62 no penalty shall be imposed for failure to pay estimated income tax where taxable income for the taxable years is less than $20,000 ($30,000 in the case of a married couple filing a joint return), and more than 50 percent of such income is retirement income.

United States · United States Congress · 8 September 1982

Amends the Internal Revenue Code to exempt from the penalty for failure to pay estimated income tax individuals who have attained age 62 if: (1) the taxable income of such individual is less than $20,000 ($30,000 in the case of a joint return); and (2) more than 50 percent of the gross income of such individual is retirement income. Defines "retirement income" as income from: (1) pensions and annuities; (2) interest; (3) rents; (4) dividends; (5) qualified bond purchase plans; (6) individual retirement accounts; and (7) individual retirement annuities.

Bill· SS. 2871 (97th)open

A bill to provide that the moratorium on fringe benefit taxation (P.L. 95-427) applies to the value of certain campus housing furnished by educational institutions to their employees.

United States · United States Congress · 20 August 1982

Provides that the moratorium on fringe benefit taxation applies to the value of housing furnished by educational institutions to their employees if: (1) the housing is located on a campus of, or in the proximity of, such institution; and (2) such institution has a reasonable basis for not treating the value of such housing as subject to taxation.

Bill· SS. 2872 (97th)open

A bill to amend the Internal Revenue Code to clarify the exclusion from income for the value of lodging located in the proximity of an educational institution and furnished by such institution to its employees.

United States · United States Congress · 20 August 1982

Amends the Internal Revenue Code to exclude from the gross income of an employee of an educational institution the value of lodging: (1) located on, or in the proximity of, a campus of such institution; and (2) furnished to the employee, his spouse, or any of his dependents by or on behalf of such institution.

Bill· HRH.R. 7053 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for individual education accounts, and for other purposes.

United States · United States Congress · 19 August 1982

Amends the Internal Revenue Code to allow an income tax deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the higher or vocational educational expenses of the taxpayer or the taxpayer's spouse, child, grandchild, or ward. Limits the amount of such deduction to $2,000 per year ($2,250 in the case of a joint return). Excludes such accounts from taxation. Excludes distributions from such accounts so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational expenses.

Bill· HRH.R. 7043 (97th)referred

Jobs Incentive Act of 1982

United States · United States Congress · 19 August 1982

Jobs Incentive Act of 1982 - Amends the Internal Revenue Code to allow an income tax credit for each new employee position created by an employer in an area of substantial unemployment. Sets the amount of such credit at $1,000 for each new permanent employee position and $500 for each new temporary employee position. Defines "area of substantial unemployment" as any county, within the United States, in which the local unemployment rate exceeds the national unemployment rate.

Bill· HRH.R. 7042 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide for the establishment of, and the deduction of contributions to, education savings accounts.

United States · United States Congress · 19 August 1982

Amends the Internal Revenue Code to allow an income tax deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the higher or vocational educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $2,000 per year, adjusted for inflation. Limits eligibility for such deduction to the taxpayer or the taxpayer's dependent child unless such child has attained age 21 or has attended an institution of higher education as a full-time student for more than four weeks in the year of his or her twenty-first birthday. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions.

Resolution· HRESH.Res. 577 (97th)referred

A resolution expressing the sense of the House of Representatives that the President should request levels of funding for national defense in his budget requests for fiscal years 1984 and 1985 that are not in excess of the target levels for defense spending for those fiscal years adopted by Congress in the first concurrent resolution on the budget for fiscal year 1983.

United States · United States Congress · 19 August 1982

Expresses the sense of the House of Representatives that the President should request funding levels for national defense for FY 1984 and 1985 not in excess of the levels targeted in the first concurrent budget resolution for FY 1983, S. Con. Res. 92.

Bill· HRH.R. 7007 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to extend the credit for the employment of certain new employees, to include as a targeted group for purposes of such credit certain individuals who have exhausted their rights to unemployment benefits, and for other purposes.

United States · United States Congress · 18 August 1982

Amends the Internal Revenue Code to extend the targeted jobs tax credit from 1982 to 1987. Treats as members of a targeted group certain individuals who have either: (1) exhausted rights to extended unemployment compensation during 1982 to 1983; or (2) exhausted rights to regular benefits during 1982 or 1983 and are eligible for trade adjustment allowances.

Bill· HRH.R. 7008 (97th)referred

A bill to clarify the taxation of cooperative apartments.

United States · United States Congress · 18 August 1982

Amends the Internal Revenue Code to repeal the requirement that 80 percent or more of the gross income of a cooperative housing corporation must be derived from tenant-stockholders in order to allow such stockholders a tax deduction for a proportionate share of interest, real estate taxes, and business depreciation. Requires a reduction in the amount of such deduction in the case of a cooperative housing corporation which derives less than 80 percent of its gross income from tenant-shareholders. Repeals the three-year limit on the taking of such deduction by: (1) lending institutions which acquire stock in a cooperative housing corporation through foreclosure; and (2) persons who acquire stock by sale of property to such a corporation. Treats any legal entity which holds stock in a cooperative housing corporation as a tenant-stockholder eligible for such deduction (present law restricts such treatment to individuals).

Bill· HRH.R. 6989 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a refundable tax credit for taxpayers who maintain households which include elderly persons who are determined by a physician to be disabled.

United States · United States Congress · 13 August 1982

Amends the Internal Revenue Code to allow an income tax credit to any individual who maintains a household which includes one or more elderly qualified persons. Sets the amount of such credit at $1,000 for each such elderly person living in the household. Limits the aggregate amount creditable to $2,000 on any return for the taxable year. Defines "qualified elderly person" as any individual who: (1) has attained age 65; (2) has an impairment which, as determined by a physician, renders such individual physically or mentally incapable of caring for himself and has lasted or is expected to last six months or longer; and (3) has as a principal place of abode for more than half of the taxable year the home of the taxpayer.

Resolution· HRESH.Res. 559 (97th)passed

A resolution waiving certain points of order against the bill (H.R. 6956) making appropriations for the Department of Housing and Urban Development, and for sundry independent agencies, boards, commissions, corporations, and offices for the fiscal year ending September 30, 1983, and for other purposes.

United States · United States Congress · 12 August 1982

Sets forth the rule for the consideration of H.R. 6956 (Department of Housing and Urban Development funding).

Bill· HRH.R. 6970 (97th)referred

A bill to limit the obligation of funds by Federal agencies during the last two months of a fiscal year.

United States · United States Congress · 11 August 1982

Prohibits any executive agency from obligating, during the last two calendar months of FY 1983, 1984, or 1985, more than 20 percent of its total controllable budgetary resources, as defined by this Act, for such fiscal year. Authorizes the Director of the Office of Management and Budget to waive such spending limitation upon determining that it would seriously disrupt an agency program or operation, if the Director reports on such waiver to Congress before the agency violates such limitation. Requires the head of each agency to submit a report to the President and the Congress not later than 90 days after the close of each such fiscal year describing the department's or agency's compliance with this Act. Permits the Director to apportion annual appropriations and set aside reserves in a manner consistent with the purposes and requirements of this Act. Exempts reserves established to comply with a spending limitation under this Act from reporting requirements of the Impoundment Control Act of 1974.

Bill· HRH.R. 6975 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt from rules relating to foreign conventions all conventions, et cetera, held on domestic cruise ships and on certain foreign cruise ships which port in qualified Caribbean Basin countries.

United States · United States Congress · 11 August 1982

Amends the Internal Revenue Code to revise requirements for the deduction of expenses incurred in attending a convention, seminar, or other meeting held on a domestic cruise ship and to extend eligibility for such deduction to a foreign cruise ship in specified Caribbean Basin countries. Permits the President to disqualify countries under certain conditions.

Bill· HRH.R. 6959 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from the Federal estate tax 50 percent of the value of farmland having no significant degradation of agricultural productivity in each of the 5 years ending before the date of the decedent's death.

United States · United States Congress · 10 August 1982

Amends the Internal Revenue Code to exclude from estate taxation 50 percent of the value of farmland which has had no significant degradation of agricultural productivity for the five years preceding the decedent's death.

Bill· SS. 2817 (97th)open

Fair Tax Act of 1982

United States · United States Congress · 5 August 1982

Fair Tax Act of 1982 - Title I: Reduction of Income Tax Rates - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of 14 percent for all individuals, estates, and trusts. Imposes a surtax (ranging from six to 14 percent) on the adjusted gross income of single taxpayers earning over $25,000 and married taxpayers earning over $40,000. Reduces the personal holding company tax from 50 to 28 percent. Repeals the 1985 indexation of tax rates. Redefines "adjusted gross income" to repeal the deductions for: (1) long-term capital gains; (2) amortization of reforestation expenses; and (3) two-earner married couples. Provides that certain special deductions for estate and trusts shall be subtracted from adjusted gross income. Increases the amount of the personal exemption to $1500 for single taxpayers and $1750 for heads of households. Allows an additional $1000 exemption for the dependent spouse of a taxpayer filing a joint return. Increases the zero bracket amount from $3400 to $4600 for taxpayers filing joint returns and surviving spouses. Repeals the direct charitable contribution deduction. Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to revise tax return filing requirements to reflect the increased personal exemption in the case of 65-year-old taxpayers and taxpayers filing joint returns. Revises requirements for withholding allowances to correspond with the increased personal exemption. Repeals the minimum tax on individual taxpayers. Repeals provisions which allow income averaging. Title II: Broadening of the Income Tax Base - Repeals the tax credits for: (1) the elderly; (2) political contributions; and (3) residential energy conservation. Limits the availability of the following tax credits to certain corporations: (1) the investment tax credit; (2) the new employee credit; (3) the credit for producing fuel from a nonconventional source; (4) the alcohol fuel credit; and (5) the credit for increasing research activities. Repeals the exclusion from gross income of employer-provided premiums on group-term life insurance and the exclusion of unemployment compensation benefits. Requires the inclusion in gross income of interest income on life insurance, annuity or endowment contracts. Repeals the following tax exclusions: (1) dividends received by individuals; (2) employer-provided group legal services; (3) employer-provided transportation expenses; (4) employer-provided educational assistance; and (5) interest received after 1984. Repeals the tax exclusion of: (1) employer-provided child care assistance; (2) earned income of U.S. citizens living abroad; (3) certain disability payments; (4) dividend reinvestment in public utility stock; and (5) interest on industrial development bonds and veterans' mortgage bonds received by individual taxpayers. Requires the inclusion in gross income of one-third of employer contributions to medical care plans (other than workmen's compensation). Modifies the exclusion of scholarship and fellowship grants to require that an eligible recipient be a degree candidate at a tax-exempt educational institution. Disallows the exclusion of payments for teaching, research, or other services unless all degree candidates are required to perform such services. Repeals the tax deductions for: (1) two-earner married couples; (2) adoption expenses; and (3) long-term capital gains. Provides that no distinction shall be made between short-term and long-term capital gains in the case of individual taxpayers. Disallows the tax deductions to individual taxpayers for: (1) amortization of pollution control facilities; (2) amortization of reforestation expenditures; (3) intangible drilling and development costs for oil, gas, and geothermal wells; (4) percentage depletion; (5) mineral development and mine exploration expenses; and (6) certain State and local taxes. Repeals the tax deduction for the casualty and theft losses of individuals. Limits the deduction for interest on investment indebtedness for individual taxpayers to the amount of investment income. Provides that such limitation shall not apply to trade or business indebtedness and indebtedness incurred in acquiring or rehabilitating a qualified dwelling or principal residence of the taxpayer. Modifies the accelerated cost recovery schedules to provide that increased percentages for property placed in service after 1984 and after 1985 shall only be available to certain corporations. Reduces the depreciation deduction for 15-year real property in the case of individual taxpayers. Limits the tax deduction for medical and dental expenses to amounts in excess of ten percent of adjusted gross income (previously three percent). Repeals the separate deduction for up to $150 of health insurance. Repeals the tax credit for household and dependent care services necessary for gainful employment and replaces such credit with a tax deduction for employment-related expenses. Limits such deduction to $2,400 for taxpayers with one dependent and $4,800 for taxpayers with two or more dependents. Allows a deduction for $125,000 of gain from the sale of a principal residence by an individual over age 55. Repeals the exclusion of such gain. Revises the definition of "Section 11 corporation". Title III: Taxation of Individual Retirement Accounts and Qualified Pension, Profit-Sharing, and Stock Bonus Plans - Imposes a 14 percent tax on the investment income of retirement trusts, including pensions, individual retirement accounts, and other retirement plans. Repeals the tax- exempt status of certain pension, profit-sharing, stock bonus plans, and individual retirement accounts. Repeals the tax on lump-sum distributions from qualified pension plans. Title IV: Conforming Amendments; Effective Dates - Makes technical and conforming amendments. Sets forth effective dates for the provisions of this Act.

Bill· SS. 2812 (97th)open

National Security Programs Authorization Act for Fiscal Year 1983

United States · United States Congress · 5 August 1982

National Security Programs Authorization Act for Fiscal Year 1983 - Title I: National Security Programs - Authorizes appropriations for FY 1983 to the Department of Energy for operating expenses incurred in carrying out national security programs, including scientific research and development, strategic and critical materials necessary for common defense, military applications of nuclear energy, and additional authorizations for specific projects. Title II: General Provisions - Prohibits the use of funds authorized under this Act, without notice to Congress, where the costs of the program exceed 105 percent of the program authorization or the costs exceed by more than $10,000,000 the amount authorized by this Act, whichever is the lesser. Prohibits the use of funds authorized by this Act, without notice to Congress, for programs which have not been presented to, or requested of, Congress. Allows the use of such funds after 30 calendar days have elapsed since the Secretary of Energy has presented to all the appropriate congressional committees a full and complete statement of the action proposed. Allows the written waiver of such requirement where such waiver is approved in writing by each appropriate committee of Congress. Authorizes the Secretary to start any general plant project only if the maximum estimated cost of such project does not exceed $1,000,000. Sets forth procedures for approval of construction projects that exceed their authorization or their estimated cost by over 25 percent, and exempts from such procedures any project which has an estimated cost of less than $5,000,000. Allows the transfer of funds from specified projects to other Government agencies for the performance of work for which the appropriation is made. Authorizes the Secretary to perform construction design services for construction projects in support of national security programs as appropriated under this Act. Directs the Secretary to notify the appropriate committees of Congress in writing of specific cost overruns. Limits the cost of such design services.

Bill· HRH.R. 6944 (97th)referred

Fair Tax Act of 1982

United States · United States Congress · 5 August 1982

Fair Tax Act of 1982 - Title I: Reduction of Income Tax Rates - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of 14 percent for all individuals, estates, and trusts. Imposes a surtax (ranging from six to 14 percent) on the adjusted gross income of single taxpayers earning over $25,000 and married taxpayers earning over $40,000. Reduces the personal holding company tax from 50 to 28 percent. Repeals the 1985 indexation of tax rates. Redefines "adjusted gross income" to repeal the deductions for: (1) long-term capital gains; (2) amortization of reforestation expenses; and (3) two-earner married couples. Provides that certain special deductions for estate and trusts shall be subtracted from adjusted gross income. Increases the amount of the personal exemption to $1,500 for single taxpayers and $1,750 for heads of households. Allows an additional $1,000 exemption for the dependent spouse of a taxpayer filing a joint return. Increases the zero bracket amount from $3,400 to $4,600 for taxpayers filing joint returns and surviving spouses. Repeals the direct charitable contribution deduction. Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to revise tax return filing requirements to reflect the increased personal exemption, in the case of 65-year-old taxpayers and taxpayers filing joint returns. Revises requirements for withholding allowances to correspond with the increased personal exemption. Repeals the minimum tax on individual taxpayers. Repeals provisions which allow income averaging. Title II: Broadening of the Income Tax Base - Repeals the tax credits for: (1) the elderly; (2) political contributions; and (2) residential energy conservation. Limits the availability of the following tax credits to certain corporations: (1) the investment tax credit; (2) the new employee credit; (3) the credit for producing fuel from a nonconventional source; (4) the alcohol fuel credit; and (5) the credit for increasing research activities. Repeals the exclusion from gross income of employer-provided premiums on group-term life insurance and the exclusion of unemployment compensation benefits. Requires the inclusion in gross income of interest income on life insurance, annuity, or endowment contracts. Repeals the following tax exclusions: (1) dividends received by individuals; (2) employer-provided group legal services; (3) employer-provided transportation expenses; (4) employer-provided educational assistance; and (5) interest received after 1984. Repeals the tax exclusion of: (1) employer-provided child care assistance; (2) earned income of U.S. citizens living abroad; (3) certain disability payments; (4) dividend reinvestment in public utility stock; and (5) interest on industrial development bonds and veterans' mortgage bonds received by individual taxpayers. Requires the inclusion in gross income of one-third of employer contributions to medical care plans (other than workmen's compensation). Modifies the exclusion of scholarship and fellowship grants to require that an eligible recipient be a degree candidate at a tax-exempt educational institution. Disallows the exclusion of payments for teaching, research, or other services unless all degree candidates are required to perform such services. Repeals the tax deductions for: (1) two-earner married couples; (2) adoption expenses; and (3) long-term capital gains. Provides that no distinction shall be made between short-term and long-term capital gains in the case of individual taxpayers. Disallows the tax deductions to individual taxpayers for: (1) amortization of pollution control facilities; (2) amortization of reforestation expenditures; (3) intangible drilling and development costs for oil, gas, and geothermal wells; (4) percentage depletion; (5) mineral development and mine exploration expenses; and (6) certain State and local taxes. Repeals the tax deduction for the casualty and theft losses of individuals. Limits the deduction for interest on investment indebtedness for individual taxpayers to the amount of investment income. Provides that such limitation shall not apply to trade or business indebtedness and indebtedness incurred in acquiring or rehabilitating a qualified dwelling or principal residence of the taxpayer. Modifies the accelerated cost recovery schedules to provide that increased percentages for property placed in service after 1984 and after 1985 shall only be available to certain corporations. Reduces the depreciation deduction for 15-year real property in the case of individual taxpayers. Limits the tax deduction for medical and dental expenses to amounts in excess of ten percent of adjusted gross income (previously three percent). Repeals the separate deduction for up to $150 of health insurance. Repeals the tax credit for household and dependent care services necessary for gainful employment and replaces such credit with a tax deduction for employment-related expenses. Limits such deduction to $2,400 for taxpayers with one dependent and $4,800 for taxpayers with two or more dependents. Allows a deduction for $125,000 of gain from the sale of a principal residence by an individual over age 55. Repeals the exclusion of such gain. Revises the definition of "Section 11 corporation". Title III: Taxation of Individual Retirement Accounts and Qualified Pension, Profit-Sharing, and Stock Bonus Plans - Imposes a 14 percent tax on the investment income of retirement trusts, including pensions, individual retirement accounts, and other retirement plans. Repeals the tax- exempt status of certain pension, profit-sharing, stock bonus plans, and individual retirement accounts. Repeals the tax on lump-sum distributions from qualified pension plans. Title IV: Conforming Amendments; Effective Dates - Makes technical and conforming amendments. Sets forth effective dates for the provisions of this Act.

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