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151 records in US in 2003
United States · United States Congress · 30 October 2003
Amends the Internal Revenue Code to exempt water and sewage facility bonds from the volume cap on private activity bonds.
United States · United States Congress · 30 October 2003
Waives points of order against the consideration of the conference report on H.R. 3289 (Emergency Supplemental Appropriations Act for Defense and for the Reconstruction of Iraq and Afghanistan, 2004)
United States · United States Congress · 29 October 2003
Individual Investment Account Act of 2003 - Amends the Internal Revenue Code to allow a deduction for amounts contributed to individual investment accounts. Allows tax-free account distributions, limited to $15,000 for all taxable years, for use in the purchase of a principal residence by a first-time homebuyer. Makes such accounts tax-exempt unless the individual engages in prohibited transactions. Allows such deduction in determining adjusted gross income. Exempts such accounts from estate tax. Excludes from gross income gain from the sale or exchange of property if, during the five-year period ending on the date of the sale or exchange, such property has been owned and used by the taxpayer as a principal residence for periods aggregating two years or more. Limits such exclusion to the amount paid to an individual investment account during the one-year period beginning on the date of the sale or exchange. Provides for basis adjustment of a residence acquired through the use of an individual investment account.
United States · United States Congress · 29 October 2003
Lower Regulatory Burden for Homeowners Act of 2003 - Amends the Internal Revenue Code to include customer connection fees (including fees to connect a customer's water service line or sewer lateral line to the utility's distribution or collection system or extend a main water or sewer line to provide service to a customer) as an excludable corporate income item within the definition of "contribution in aid of construction."
United States · United States Congress · 28 October 2003
College Quality, Affordability, and Diversity Improvement Act of 2003 - Amends the Higher Education Act of 1965 (HEA) and Internal Revenue Code (IRC) to set forth provisions relating to: (1) access to college for all; (2) teacher quality enhancement; (3) diversity, retention, and enriched academics for matriculating students; (4) opportunities at Hispanic-serving institutions; (5) historically Black colleges and universities; and (6) recruitment of teachers to teach at tribal colleges or universities. Makes appropriations in a specified amount to carry out the HEA Pell Grant program. Increases the maximum amount of an individual Pell Grant to: $4,500 for academic year 2004-5; $7,600 for 2005-6; $8,600 for 2006-7; $9,600 for 2007-8; $10,600 for 2008-9; and $11,600 for 2009-10. Revises the IRC Hope Scholarship program to: (1) make it a refundable tax credit; (2) increase the maximum amount; and (3) make it available for four years. Eliminates origination fees under HEA student loan programs. Directs the Secretary of Education to adjust fees and terms for Federal Direct Unsubsidized Loans to equal those for Unsubsidized Stafford Loans for middle-income borrowers. Direct Loan Reward Act - Amends HEA to require the Secretary to carry out a Direct Loan Reward Program to encourage institutions of higher education (IHEs) to participate in the Federal Direct Loan Program for student loans. Authorizes the Secretary to award competitive grants under HEA to university consortia to engage in endeavors to reduce college costs. Directs the Secretary to convene a college cost summit with representatives of competing peer IHEs to negotiate voluntarily agreed upon limits on future college tuition and fee increases (which require the Secretary's approval, and to which antitrust laws shall not apply). Requires a certain maintenance of effort by States in supporting public IHEs, upon penalty of lowering of Federal assistance levels for Pell Grant and student loan programs at such IHEs. Requires IHEs that receive Federal funds and are eligible for assistance under HEA title IV (Student Assistance) to include certain truth-in-tuition disclosures in their admissions applications. Directs the Bureau of Labor Statistics to develop a higher education cost index that tracks inflation changes in the necessary costs associated with higher education. Amends IRC to provide a nonrefundable tax credit for interest on higher education loans. Amends HEA to provide refinancing authority for Federal Direct Consolidation Loans. Repeals a HEA provision regarding a rate of special allowance for certain holders of student loans. Sets a quarterly rate of special allowance for holders of loans funded through tax-exempt securities. Requires windfall profit offset payments from eligible lenders of student loans. Exempts from student aid need formula determinations earnings up to: (1) $9,000 by dependent students; (2) $13,000 by independent students with no dependents (other than spouse); and (3) $18,000 by independent students with dependents (other than spouse). Repeals provisions suspending individual eligibility for HEA student assistance on the basis of convictions for drug-related offenses. Increases levels of authorizations of appropriations for FY 2004 through 2009 for the following Federal campus-based aid programs: (1) Supplemental Educational Opportunity Grants; (2) Work-Study; and (3) Perkins Loans. Increases and extends through FY 2009 the authorization of appropriations for special programs for students whose families are engaged in migrant and seasonal farmwork. Provides for increased amounts of forgiveness and cancellation under HEA student loan programs for certain teachers. Provides such additional amounts for highly qualified teachers in mathematics, science, special education, or bilingual education. Establishes new programs of forgiveness or cancellation of Federal Family Education Loans or of Direct Loans for early education teachers in Head Start, Early Head Start, or comparable pre-kindergarten programs. Directs the Secretary to revise a certain tax table involved in student aid calculations only after consultation with appropriate congressional committees. Provides student loan forgiveness after certain public sector employees have made 120 payments under an income contingent repayment plan. Allows borrowers to return to a standard repayment plan from an income contingent one. Revises provisions and reauthorizes appropriations for HEA title II (Teacher Quality Enhancement): (1) teacher quality enhancement grants for States and partnerships; and (2) preparing tomorrow's teachers to use technology. Establishes a new program for innovative strategies to recruit, train, and retain high quality teachers and principals. Establishes a HEA program for college admissions test preparation for low-income students. Revises HEA title IV to require IHEs to: (1) include in student aid applications certain information on admissions and retention for prospective students; and (2) provide certain support services to increase student retention. Directs the Secretary to make: (1) competitive grants, to IHEs where at least 40 percent of students are eligible for Pell Grants, to increase student retention and promote articulation agreements; and (2) supplemental grants, to States in partnership with IHEs and other entities, for certain access and persistence activities relating to low-income students. Revises provisions and extends authorizations of appropriations for the following HEA title IV programs of support services for low-income students: (1) Federal Trio; (2) GEAR UP; and (3) LEAP. Revises provisions for Hispanic-serving institutions (HSIs) under HEA title V (Developing Institutions). Establishes a program of competitive grants to eligible HSIs that offer postbaccalaureate certifications or degrees (part B grants). Limits a part B grant award's duration to five years. Prohibits the Secretary of Education from awarding more than one part B grant to an HSI in any one fiscal year. Authorizes appropriations for FY 2005 through FY 2009 for: (1) the current program of part A grants to HSIs that offer baccalaureate degrees or are junior or community colleges; and (2) the new part B grants to HSIs that offer postbaccalaureate certifications or degrees. Eliminates the requirement that an eligible HSI provide assurances that at least 50 percent of its Hispanic students be low-income students. Includes, among authorized activities under part A grants, articulation agreements and student support programs to help transfers from two-year to four-year institutions. Eliminates the two-year wait-out period between any two five-year part A grants to an HSI. Extends and increases authorization of appropriations for HEA title V part B programs for strengthening historically Black Colleges and universities (HBCUs). Revises HBCU requirements for professional or graduate institutions to: (1) include business administration, computer or information science, and nursing and allied health among types of study; (2) add specified institutions; and (3) revise funding rules. Establishes an HBCU graduate and professional degree development grants program. Establishes the Patsy T. Mink graduate fellowship program for eligible institutions that serve various minorities. Tribal Colleges and Universities Teacher Loan Forgiveness Act - Amends HEA title IV to provide for the cancellation of a specified percentage of the total amount of any Federal Perkins loan, Federal Family Education loan, or direct student loan for each year of employment (up to five) as a full-time teacher at a tribal college or university if the borrower is not in default on such loan. Prohibits a borrower from receiving, for the same service, both a benefit from this Act and a benefit from the National Community Service Act of 1990. Provides that the amount of any loan forgiven under this Act shall not be treated as gross income for Federal tax purposes.
United States · United States Congress · 28 October 2003
Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to provide art and collectibles with the same capital gain rates as other assets held long-term. Establishes a (limited) fair market value deduction for qualifying literary, musical, artistic, or scholarly charitable contributions created and donated by the taxpayer.
United States · United States Congress · 28 October 2003
Student Loan Interest Full Deductibility Act - Amends the Internal Revenue Code to repeal the limitations on the maximum amount of the deduction of interest on education loans.
United States · United States Congress · 28 October 2003
Crime Victims Assistance Act of 2003 - Amends: (1) the Victims' Rights and Restitution Act of 1990 to require a responsible official to arrange for a victim (and any other person whose safety, by reason of a relationship with the victim, may reasonably be threatened) (victim) to receive reasonable protection from a suspected offender, to consult with a victim prior to a detention hearing, and to consider the victim's views about any contemplated plea agreement; (2) the Federal criminal code to require the judicial officer to inquire regarding the victim's views on detention; and (3) Rule 11 of the Federal Rules of Criminal Procedure to prohibit the court from entering a judgment upon a guilty plea without inquiring regarding the victim's views. Provides for expanded victim's rights regarding standing to attend the trial and rights at sentencing. Specifies victim rights regarding notice of sentence adjustment, executive clemency, and the death of the offender in custody. Directs the Attorney General to promulgate regulations to enforce victims' rights and to establish and carry out pilot programs regarding victims' rights. Amends the Victims of Crime Act of 1984 to authorize grants for: (1) state-of-the-art systems for notifying crime victims of important dates and developments; (2) restorative justice programs; (3) interdisciplinary coordinated service programs for crime victims; and (4) the extension of services to victims with special communication needs. Modifies provisions regarding the formula for Crime Victims Fund distributions. Directs that any limitation on spending from the Fund included in the President's budget or enacted in appropriations legislation for FY 2004 or any subsequent fiscal year not be scored as discretionary savings.
United States · United States Congress · 28 October 2003
Volunteer Firefighters' Protection Act of 2003 - Amends the Internal Revenue Code to exclude from an employer's gross income specified health care subsidy payments made by a local government on behalf of qualifying volunteer firefighters.
United States · United States Congress · 28 October 2003
Amends the law making continuing appropriations for FY 2004 to: (1) extend such law through November 7, 2003; (2) make available to the Secretary of Transportation out of the Airport and Airway Trust Fund such amounts as may be necessary for administrative expenses of the Grants-in-aid Airports program at the current rate of operations; and (3) repeal the continuing availability of funding for administrative expenses of the Federal Highway Administration, Bureau of Transportation Statistics, Federal Transit Administration, National Highway Traffic Safety Administration, and Federal Motor Carrier Safety Administration. Amends the Department of Defense Appropriations Act, 2003 to extend through November 7, 2003, the waiver of certain conditions on the planning, design, or construction of a chemical weapons destruction facility in Russia.
United States · United States Congress · 28 October 2003
Waives points of order against the consideration of the conference report on H.R. 2691 (FY 2004 Department of the Interior and related agencies appropriations).
United States · United States Congress · 28 October 2003
Sets forth the rule for the consideration of H.J. Res. 75 (further continuing appropriations for FY 2004).
United States · United States Congress · 28 October 2003
Sets forth the rule for the consideration of H.R. 2443 (Coast Guard and Maritime Transportation Act of 2003).
United States · United States Congress · 24 October 2003
Expresses the sense of Congress that the number of years during which the death tax under subtitle B (Estate and Gift Taxes) of the Internal Revenue Code of 1986 is repealed should be extended, pending the permanent repeal of the death tax.
United States · United States Congress · 23 October 2003
Expresses the sense of Congress that the number of years during which the death tax under subtitle B (Estate and Gift Taxes) of the Internal Revenue Code of 1986 is repealed should be extended, pending the permanent repeal of the death tax.
United States · United States Congress · 22 October 2003
Biotechnology Future Investment Expansion Act of 2003 - Amends the Internal Revenue Code to provide that in the case of a biomedical research corporation, any owner shift involving a five-percent shareholder which occurs as the result of a qualified investment during the testing period shall be treated as occurring before the testing period. (Thus not counting toward net operating loss and tax credit carryover limitations.) Defines: (1) "biomedical research corporation" as a domestic corporation not in bankruptcy which has a drug or biologic in certain clinical trials; and (2) "qualified investment" as a stock acquisition in a biomedical research corporation acquired in cash at its original issue. Requires a biomedical research corporation to meet a five-year expenditure test with respect to any qualified investment.
United States · United States Congress · 21 October 2003
Customs Business Fairness Act of 2003 - Amends Federal bankruptcy law governing priority among claims and expenses to place in the tenth order of priority any allowed unsecured claims of customs brokers for duties, taxes, or other charges paid to the United States Customs Service on behalf of the debtor that arise out of the importation of merchandise entered for consumption within one year before the filing date of the bankruptcy petition.
United States · United States Congress · 21 October 2003
Auditor Independence and Tax Shelters Act - Amends the Securities Exchange Act of 1934 to prohibit a registered public accounting firm from providing tax shelter services to their audit clients. Defines tax shelter services as services provided by a registered public accounting firm (or by an associated person of that firm) to an issuer, or an officer or director of an issuer, to design, organize, promote, assist, or execute any investment, entity, plan, arrangement, or transaction for which a significant purpose is the avoidance or evasion of Federal income tax by such issuer, or an officer or director of such issuer, whether acting as a direct or indirect participant, and for which such firm may receive fees in excess of $100,000 in the aggregate. Requires an audit committee, as a prerequisite to its approval of a non-audit service, to determine whether a reasonable likelihood exists that the service would impair the independence of the registered public accounting firm by resulting in the firm's: (1) auditing its own work for the issuer; (2) performing a management function for the issuer; (3) advocating in a public forum for the issuer; or (4) promoting the stock or other financial interest of the issuer. Prohibits the audit committee from providing advance approval of such service if it determines that such a reasonable likelihood exists.
United States · United States Congress · 21 October 2003
Family Budget Protection Act of 2003 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require, within 15 days after the end of each congressional session, a sequestration to eliminate any deficit that exceeds the excess margin (maximum permissible deficit). Requires half of the required outlay reductions to come from non-exempt defense accounts and half to come from non-exempt non-defense accounts. Provides decreasing maximum deficit amounts for FY 2005 and thereafter, with a zero balance for FY 2012 and beyond. Requires adjustment of the maximum deficit in the event of negative Federal revenue growth. Provides discretionary spending limits for FY 2005 through 2013. Repeals the Gramm-Rudman-Hollings Act expiration date. Directs the Chairman of the House Budget Committee to maintain the Family Budget Protection Discretionary Account, to be debited and credited by new budget increases and reductions. Provides spending caps on the growth of entitlements and mandatory budget outlays. Excludes benefits payable under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act and Tier 1 railroad retirement benefits from required reductions under the Gramm-Rudman-Hollings Act, along with specified Government accounts and activities. Provides other exceptions, limitations, and special rules with respect to sequestration exemptions. Directs the Chairman to maintain the Family Budget Protection Mandatory Account, to be debited and credited by increases or decreases in mandatory budget authority. Freezes at current levels spending authority for each unearned entitlement, high-cost discretionary spending program and authorized and unauthorized discretionary spending programs. Requires: (1) joint (currently, concurrent) and biennial (currently, annual) budget resolutions; (2) biennial appropriations Acts; and (3) biennial Government strategic and performance plans. Requires the appropriation of funds out of any available Treasury amounts to continue in a new fiscal year any previously-authorized Government project or activity in the event that a regular appropriations bill does not become law by the beginning of that fiscal year.
United States · United States Congress · 21 October 2003
Joint Administrative Procedures Committee Act of 2003 (JAPC Act) - Establishes a Joint Administrative Procedures Committee to selectively review existing major rules of Federal agencies and recommend amendment or repeal of such rules. Directs the Committee to periodically review the regulatory plan of each agency of its most important significant regulatory actions that the agency reasonably expects to issue in proposed or final form in the fiscal year in which the plan is submitted. Makes it in order for any Member of the House, after the third legislative day after the date on which the committee to which a joint resolution is referred has reported, to move to proceed to consideration of a joint resolution. Waives all points of order against the motion to proceed and against consideration of that motion. Makes the motion privileged in the House and not debatable. Provides that: (1) the motion is not subject to amendment, to a motion to postpone, or to a motion to proceed to the consideration of other business; and (2) debate in the House shall not exceed one hour. Provides that: (1) before a rule can take effect, the Federal agency promulgating the rule shall submit to each house of Congress and to the Comptroller General a report to the Committee; and (2) within a specified time frame, the Committee may report a committee resolution recommending that each standing committee with jurisdiction to which copies of the applicable report were provided report a joint resolution disapproving the applicable rule.
United States · United States Congress · 21 October 2003
Fallen Patriots Tax Relief Act - Doubles, from $6,000 to $12,000, the military death gratuity payment and amends the Internal Revenue Code to provide that the full payment shall be tax exempt.
United States · United States Congress · 20 October 2003
Amends the Internal Revenue Code to reduce from 24 to 12 months the holding period used to determine whether horses are section 1231 (property used in the trade or business and involuntary conversions) assets.
United States · United States Congress · 20 October 2003
Authorizes salary adjustments for U.S. justices and judges for FY 2004 concurrently with increases in the General Schedule of Compensation for Federal employees.
United States · United States Congress · 20 October 2003
Adequate Yearly Federal Funding Report Act - Amends the Elementary and Secondary Education Act of 1965 (ESEA) to require the Comptroller General to report annually to Congress on whether amounts appropriated for the preceding fiscal year to carry out each ESEA grant program are adequate to permit grant recipients to meet conditions imposed by receipt of the grant.
United States · United States Congress · 20 October 2003
Amends the Internal Revenue Code to reduce the highest rate of income tax for corporations to 30 percent (32 percent in the case of taxable years beginning in 2004, 2005, or 2006) of so much of the taxable income as exceeds $75,000.
United States · United States Congress · 20 October 2003
Timber Tax Fairness Act of 2003 - Amends the Internal Revenue Code to modify the application of the passive loss limitations to timber activities by establishing a special rule for closely held timber activities.
United States · United States Congress · 20 October 2003
Extends until November 7, 2003: (1) the law making continuning appropriations for FY 2004; and (2) the waiver of certain conditions under the Department of Defense Appropriations Act, 2003 on the planning, design, or construction of a chemical weapons destruction facility in Russia. Repeals a provision of the Department of Defense Appropriations Act, 2004 authorizing the Secretary of Defense to enter into and carry out certain contracts related to classified projects listed in the Classified Annex accompanying such Act. Enacts into law provisions of the following bills as passed by the House of Representatives: (1) the Agricultural, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2004; (2) the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2004; (3) the District of Columbia Appropriations Act, 2004; (4) the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2004; (5) the Transportation, Treasury, and Independent Agencies Appropriations Act, 2004; and (6) the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 2004.
United States · United States Congress · 20 October 2003
Sets forth the rule for the consideration of H.J. Res. 73 (further continuing appropriations for FY 2004).
United States · United States Congress · 17 October 2003
Incentives to Educate American Children (I Teach) Act of 2003 - Amends the Internal Revenue Code to permit a tax credit of $1,000 for: (1) teachers in public elementary or secondary schools or public kindergartens in rural areas or areas with high poverty; and (2) teachers certified by the National Board for Professional Teaching Standards. Grants a credit of $2,000 for a teacher meeting both criteria.
United States · United States Congress · 17 October 2003
Permits a State to provide tax incentives for production of electricity from: (1) coal mined in the State and used in a facility, if such production meets Federal and State laws and if the facility uses clean coal technology, including scrubbers; (2) a renewable source such as wind, solar, or biomass; or (3) ethanol. Declares that any such State tax incentive shall: (1) be considered to be a reasonable regulation of commerce, and (2) not be considered to impose an undue burden on interstate commerce or to otherwise impair, restrain, or discriminate, against interstate commerce.
United States · United States Congress · 16 October 2003
Education Savings Act of 2003 - Amends the Internal Revenue Code to exclude from the gross income of an employee amounts paid by the employer as contributions to an education savings entity held by the employee or spouse of the employee if the contributions are made pursuant to an educational assistance program.
United States · United States Congress · 16 October 2003
Realistic Roofing Tax Treatment Act of 2003 - Amends the Internal Revenue Code to classify any roof system as 20-year property for depreciation purposes.
United States · United States Congress · 16 October 2003
Sets forth the rule for further consideration of H.R. 3289 (Emergency Supplemental Appropriations for Iraq and Afghanistan Security and Reconstruction Act, 2004).
United States · United States Congress · 15 October 2003
Streamlined Sales and Use Tax - Grants the consent of Congress to the November 12, 2002, Streamlined Sales and Use Tax Agreement. Expresses the sense of Congress that such Agreement provides sufficient simplification and uniformity to warrant Federal authorization to States that are parties to the Agreement to require remote sellers to collect and remit the sales and use taxes of such States and of local taxing jurisdictions of such States. States that the purpose of this Act is to effectuate that limited authority, and not to grant additional authority unrelated to the accomplishment of that purpose. States that once 10 States comprising at least 20 percent of the total population of all States imposing a sales tax have petitioned for membership under the Streamlined Sales and Use Tax Agreement, have been found to be in compliance with the Agreement pursuant to the terms of the Agreement, have become Member States under the Agreement, and the necessary operational aspects of the Agreement have been implemented, any Member State under the Agreement is authorized, notwithstanding any other provision of law, to require all sellers not qualifying for the small business exception provided by this Act to collect and remit sales and use taxes with respect to remote sales to purchasers located in such State. Establishes minimum simplification requirements.
United States · United States Congress · 15 October 2003
Debt Reduction and Fiscal Responsibility Restoration Act of 2003 - Establishes in the Treasury the Deficit Reduction Account, to be used by the Secretary of the Treasury to pay at maturity, or to redeem or buy before maturity, any obligation of the Government held by the public and included in the public debt. Requires the Secretary to report annually to each House of Congress on the amounts and dates of deposits into the Account and on the public debt redeemed during the previous year. Amends the Rules of the House of Representatives to provide that it shall be in order, during the reading of an appropriation bill for amendment in the Committee of the Whole House on the state of the Union, to consider en bloc amendments proposing only to reduce appropriations among objects in the bill and to appropriate an amount not greater than the amount so reduced to the Account.
United States · United States Congress · 15 October 2003
Neighbors in Need Act - Amends the Temporary Extended Unemployment Compensation Act of 2002 (TEUCA) to: (1) extend the TEUCA program in States with high unemployment (States that already qualify for the TEUC-X program (under which second tier benefit amounts are deposited in an individual's account) or would if the trigger for such program were changed) through March 31, 2004, with a phase-out period through June 30, 2004; and (2) provide eight additional weeks of TEUC benefits to those who have exhausted theirs before enactment of this Act. Amends the Social Security Act to require: (1) increases and decreases in the earnings allocated to State accounts when States meet or fail to meet funding goals; and (2) interest-free advances to State accounts in the Unemployment Trust Fund to be restricted to States which meet funding goals. Amends the Internal Revenue Code to: (1) suspend the tax on individual unemployment compensation for 2004 and 2005; (2) allow certified States to elect to collect Federal unemployment taxes, under the Federal Unemployment Tax Act (FUTA); and (3) require States to distribute to unemployed individuals State-specific information packets explaining unemployment insurance eligibility conditions.
United States · United States Congress · 15 October 2003
Sets forth the rule for the consideration of H.R. 3289 (Emergency Supplemental Appropriations for Iraq and Afghanistan Security and Reconstruction Act, 2004).
United States · United States Congress · 14 October 2003
Amends title XXI (State Children's Health Insurance) (SCHIP) of the Social Security Act (SSA) to make a technical amendment to the definition of qualifying State used for purposes of giving certain States operating under waivers of specified State plan requirements the authority to use up to 20 percent of their FY 1998 through 2001 SCHIP allotments, for fiscal years in which they are available, for paying the costs of covering under Medicaid (SSA title XIX) certain low-income children whose family income meets an income eligibility standard under such waivers of at least 185 percent of the poverty line. Extends the meaning of qualifying State to include waivers first implemented, and 185 percent-of-the-poverty-line eligibility standards operating, on several specified dates to allow additional States (New Mexico, Maryland, Hawaii, and Rhode Island) to use such portion of their unspent SCHIP funds for covering such children under Medicaid.
United States · United States Congress · 8 October 2003
Social Security Alternative Voluntary Expenditure Act of 2003 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to authorize individuals eligible for OASDI benefits to elect to waive payment of all benefits based on their wages and self-employment income. Amends the Internal Revenue Code to allow a deduction of 20 percent of the actuarial present value of future benefits foregone by reason of such an election. Provides a tax deduction, as well, for the divorced spouse of an individual making a waiver under this Act. Amends SSA title II to require special Government obligations issued for purchase by the social security trust funds to bear interest at the average market yield then prevailing for comparable obligations issued in the private sector.
United States · United States Congress · 7 October 2003
Personal Access to Continued Education Act of 2003 - Amends the Internal Revenue Code to: (1) repeal the Lifetime Learning Credit; (2) make the Hope Credit refundable; (3) increase the Hope Credit; (4) specify that such credit shall not be reduced by either Pell grants or supplemental educational opportunity grants; and (5) allow additional qualifying expenses for such credit, including job skills courses.
United States · United States Congress · 2 October 2003
Local Railroad Rehabilitation and Investment Act of 2003- Amends the Internal Revenue Code to establish a railroad track maintenance credit for qualified railroad track maintenance expenditures with respect to which the expenditures were paid or incurred by the taxpayer for the taxable year for Class II or Class III railroads.
United States · United States Congress · 2 October 2003
Domestic Partner Health Benefits Equity Act - Amends the Internal Revenue Code, with respect to health insurance, to provide for the treatment of domestic partners on an equal basis with spouses by designating as a dependent any individual who is an eligible beneficiary under an employer's health insurance plan.
United States · United States Congress · 2 October 2003
Arts Education Advancement Act of 2003 - Amends the National Foundation on the Arts and the Humanities Act of 1965 to require, when appropriations for the National Endowment for the Arts (NEA) exceed a certain level, that all of the excess funds be used for the arts education program. (Current law requires the use of only half such excess NEA funds for arts education, and allows the NEA to use a greater amount for other purposes before such set-aside for arts education is triggered.) Requires half the funds for the arts education program in any fiscal year to be used in formal systems of elementary and secondary education.
United States · United States Congress · 2 October 2003
Enhancing Resources Utilized in Developing Investments for Tuition Expenditures Act of 2003 - Amends the Internal Revenue Code, concerning Coverdell education savings accounts, to provide for a new contribution limit lump sum contribution.
United States · United States Congress · 2 October 2003
Mobile Machinery Tax Fairness Act - Amends the Internal Revenue Code to prohibit the treatment of certain mobile machinery as a highway vehicle, thereby exempting such machinery from federal highway excise taxes.
United States · United States Congress · 1 October 2003
Health Care Tax Credit Expansion Act of 2003 - Amends the Internal Revenue Code to make individuals receiving unemployment compensation eligible for the 65 percent credit for health insurance costs.
United States · United States Congress · 1 October 2003
Business Activity Tax Simplification Act of 2003 - Amends Federal law concerning the taxation of interstate commerce to expand the scope of the protections prohibiting taxation by jurisdictions of the income of out-of-state corporations whose in-state presence is nominal from just tangible personal property to include intangible property and services. Requires an out-of-state company to have a physical presence in a State before the State can impose franchise taxes, business license taxes, and other business activity taxes.
United States · United States Congress · 1 October 2003
Small Business Tax Flexibility Act of 2003 - Amends the Internal Revenue Code to permit a qualified small business the election of having a taxable year, other than the required taxable year, which ends on the last day of any of the months of April through November.
United States · United States Congress · 1 October 2003
Tax Reform Action Commission Act of 2003 - Establishes in the legislative branch a Tax Reform Action Commission to make specific recommendations to Congress for the reform of the internal revenue laws in a manner that produces a system that is: (1) simple, transparent, and efficient; (2) fair and equitable to all Americans; and (3) neutral between different activities and between current consumption and future consumption.
United States · United States Congress · 1 October 2003
States that the House of Representatives: (1) supports the goals of the Immigrant Workers Freedom Ride, including the need for immigration reform; and (2) recognizes and honors the millions of immigrant workers in the United States who work hard, pay taxes, and contribute to our economy and our communities.