Taxation

American Infrastructure Investment and Improvement Act of 2007

United States · United States Congress · 13 November 2007

American Infrastructure Investment and Improvement Act of 2007 - Amends the Internal Revenue Code to extend through FY2011: (1) the excise taxes on aviation fuels and transportation of persons and property by air; and (2) the expenditure authority for the Airport and Airway Trust Fund. Imposes a new excise tax rate on aviation-grade kerosene. Increases the excise tax imposed on tickets for air travel beginning and ending in the United States. Establishes within the Airport and Airway Trust Fund an Air Traffic Control System Modernization Account. Repeals the exemption from air transportation excise taxes for transportation by small aircraft operating on nonestablished lines. Increases funding for the Highway Trust Fund. Increases the rate of the Oil Spill Liability Trust Fund tax and extends such tax through 2017. Denies a tax deduction for punitive damages in connection with a judgment or settlement of any claim. Establishes a Motor Fuel Tax Enforcement Advisory Commission for the review of motor revenue fuel collections. Restructures tax incentives for investment in the New York Liberty Zone. Increases penalties for failure to file certain tax informational returns. Exempts from the harbor maintenance tax certain commercial cargo loaded or unloaded at U.S. ports in the Great Lakes Saint Lawrence Seaway System. Allows a new tax credit for investment in qualified rail infrastructure bonds. Limits the deductibility of fines and penalties paid to a government for violations of law. Sets forth additional rules for the tax treatment of high-income individuals who relinquish U.S. citizenship or residency to avoid U.S. taxation (expatriates).

Long-Term Care Affordability and Security Act of 2007

United States · United States Congress · 13 November 2007

Long-Term Care Affordability and Security Act of 2007 - Amends the Internal Revenue Code to: (1) include long-term care insurance as a benefit under tax-exempt employee benefit cafeteria plans and flexible spending arrangements; and (2) make certain consumer protections applicable to long-term care insurance.

A joint resolution proposing a balanced budget amendment to the Constitution of the United States.

United States · United States Congress · 13 November 2007

Constitutional Amendment - Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a two-thirds rollcall vote of each chamber, authorizes a specific excess of outlays over receipts. Requires a two-thirds rollcall vote of each chamber to increase the public debt limit. Directs the President to submit a balanced budget to Congress annually. Requires a two-thirds rollcall vote of each chamber for final adoption of any bill to increase the internal revenue. Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.

Child Care Affordability Act of 2007

United States · United States Congress · 13 November 2007

Child Care Affordability Act of 2007 - Amends the Internal Revenue Code to: (1) allow a tax deduction for expenses paid for household and dependent care services necessary for gainful employment; (2) increase the dollar limitation on the tax credit for such expenses; (3) provide for an inflation adjustment after 2008 to the dollar amounts for such tax deduction and tax credit; and (4) make such tax credit refundable.

College Cost Reduction and Access Act Technical Amendments of 2007

United States · United States Congress · 13 November 2007

College Cost Reduction and Access Act Technical Amendments of 2007 - Makes technical changes to amendments the College Cost Reduction and Access Act (the Act) made to the Higher Education Act of 1965 (HEA). Ensures that mandatory Pell grant funding made available for any fiscal year by such Act remains available for the succeeding fiscal year (thus, for the full Pell grant award year). Specifies the untaxed income and benefits which the Act excluded from the list of untaxed income and benefits considered in federal student need analyses (thereby, specifically excluding them from such analyses). Clarifies that students who were orphans, wards of the court, or in foster care when they were 13 or older are independent for federal student aid purposes. Provides that, for married borrowers who file separate tax returns, income-based loan repayments under the HEA shall be determined solely on the basis of their individual student loan debt and adjusted gross income. Ensures that National Guard members who serve full-time are eligible for the student loan deferment the Act provides to other military personnel for 13 months after the conclusion of active duty service. Moves the Act's funding program for minority-serving institutions from title IV (Student Assistance) to title III (Institutional Aid) of the HEA.

Simplified USA Tax Act of 2007

United States · United States Congress · 13 November 2007

Simplified USA Tax Act of 2007 - Repeals, after 2006, income tax and estate and gift tax provisions of the Internal Revenue Code of 1986. Replaces such Code with a new tax system, to be known as the Simplified USA Tax. Establishes three income tax brackets at 15, 25, and 30% for individual taxpayers. Redefines "gross income" and allows certain exclusions from gross income, including previously-taxed benefits, tax-exempt bond interest, compensation for injuries and sickness, and gain from the sale of a principal residence. Allows tax deductions for alimony and child support, home mortgage interest, certain higher education expenses, and charitable contributions. Allows a tax credit for employee social security payroll taxes. Revises rules for Roth individual retirement accounts (Roth IRAs) to allow taxpayers to make contributions up to the amount of their adjusted gross income. Allows tax-free withdrawals from Roth IRA for any purpose after five years. Establishes new rules for deductible IRAs, annuities, and endowment and life insurance contracts. Revises tax rules for business entities to: (1) establish an 8% tax rate for the first $150,000 of gross profit (12% for profit in excess of $150,000); (2) allow a tax credit for social security payroll taxes; (3) exempt from taxation all export sales income and other foreign-source income; and (4) establish new tax rules for tax-exempt organizations and certain financial institutions.

Providing for consideration of the bill (H.R. 4156) making emergency supplemental appropriations for the Department of Defense for the fiscal year ending September 30, 2008, and for other purposes.

United States · United States Congress · 13 November 2007

Sets forth the rule for consideration of the bill (H.R. 4156) making emergency supplemental appropriations for the Department of Defense for the fiscal year ending September 30, 2008.

Providing for consideration of the conference report to accompany the bill (H.R. 3074) making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2008, and for other purposes.

United States · United States Congress · 13 November 2007

Sets forth the rule for consideration of the conference report to accompany the bill (H.R. 3074) making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2008.

Lifetime Pension Annuity for You Act of 2007

United States · United States Congress · 9 November 2007

Lifetime Pension Annuity for You Act of 2007 - Amends the Internal Revenue Code to: (1) allow an exclusion from gross income for up to 50% of lifetime income payments from certain annuity contracts; (2) exclude longevity insurance benefits from employee benefit plan minimum distribution requirements; and (3) allow a tax exclusion for amounts received as an annuity under any portion of an annuity, endowment, or life insurance contract.

Homeowners Exemption Update Act of 2007

United States · United States Congress · 9 November 2007

Homeowners Exemption Update Act of 2007 - Amends the Internal Revenue Code to increase to $500,000 the amount of gain from the sale or exchange of a principal residence that may be excluded from gross income for income tax purposes. Allows a $1 million exclusion for married taxpayers filing a joint tax return who meet certain residential use and ownership requirements.

Homeowners Insurance Assistance Act of 2007

United States · United States Congress · 8 November 2007

Homeowners Insurance Assistance Act of 2007 - Amends the Internal Revenue Code to allow individual taxpayers in certain hurricane disaster areas a tax credit for 50% of their homeowner insurance premiums, up to $250 annually.

A bill to exclude from gross income payments from the Hokie Spirit Memorial Fund to the victims of the tragic event, loss of life and limb, at Virginia Polytechnic Institute & State University.

United States · United States Congress · 8 November 2007

Excludes from gross income, for federal tax purposes, any payments made by Virginia Polytechnic Institute & State University (Virginia Tech) out of the Hokie Spirit Memorial Fund to the victims of the tragic shootings at such school on April 16, 2007.

To exclude from gross income payments from the Hokie Spirit Memorial Fund to the victims of the tragic event at Virginia Polytechnic Institute & State University.

United States · United States Congress · 8 November 2007

Excludes from gross income, for federal tax purposes, any payments made by Virginia Polytechnic Institute & State University (Virginia Tech) out of the Hokie Spirit Memorial Fund to the victims of the tragic shootings at such school on April 16, 2007.

Roofing Energy Efficiency Tax Act of 2007

United States · United States Congress · 8 November 2007

Roofing Energy Efficiency Tax Act of 2007 - Amends the Internal Revenue Code to: (1) classify as 20-year property for depreciation purposes any roof system which meets the requirements of Standard 90.1-2004 of the American Society of Heating, Refrigerating, and Air Conditioning Engineers and is on nonresidential real property; and (2) require use of the straight line method for depreciation of such property.

AMT Repeal and Tax Freedom Act

United States · United States Congress · 7 November 2007

AMT Repeal and Tax Freedom Act - Amends the Internal Revenue Code to repeal the alternative minimum tax for individual taxpayers after 2006. Exempts individual taxpayers who had no alternative minimum tax liability in the taxable year preceding 2006 from estimated income tax penalties for taxable years beginning in 2006. Makes permanent reductions in income tax rates enacted by the Economic Growth and Tax Relief and Reconciliation Act of 2001 and capital gains and dividends tax rates enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.

A bill to amend the International Center Act to authorize the lease or sublease of certain property described in such Act to an entity other than a foreign government or international organization if certain conditions are met.

United States · United States Congress · 7 November 2007

Amend the International Center Act to authorize the lease or sublease of property identified by the District of Columbia as tax lots 803, 804, 805, and 806 to an entity other than a foreign government or international organization, so long as the Secretary of State maintains the right to approve the occupant and the intended use of the property.

To amend the Internal Revenue Code of 1986 to establish a 15-year recovery period for depreciation of designated low-income buildings and to allow passive losses and credits attributable to qualified low-income buildings.

United States · United States Congress · 7 November 2007

Amends the Internal Revenue Code to: (1) allow a 15-year recovery period for depreciation of designated low-income buildings eligible for the low-income housing tax credit; and (2) waive limitations on passive activity losses and credits for such buildings.

Providing for consideration of the conference report to accompany the bill (H.R. 3222) making appropriations for the Department of Defense for the fiscal year ending September 30, 2008, and for other purposes.

United States · United States Congress · 7 November 2007

Sets forth the rule for consideration of the conference report to accompany the bill (H.R. 3222) making appropriations for the Department of Defense for the fiscal year ending September 30, 2008.

Geothermal Heat Pump Development Act of 2007

United States · United States Congress · 6 November 2007

Geothermal Heat Pump Development Act of 2007 - Amends the Internal Revenue Code to: (1) to include equipment that uses the ground or ground water as a thermal energy source or sink to heal or cool a structure (i.e., geothermal heat pump systems) as energy property for purposes of the energy tax credit; (2) allow a residential energy efficient property tax credit for 30% of qualified geothermal heat pump property expenditures; and (3) allow accelerated three-year depreciation of geothermal heat pump systems.

Healthy Families and Dedicated Teachers Tax Relief Act of 2007

United States · United States Congress · 6 November 2007

Healthy Families and Dedicated Teachers Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) extend through 2013 the tax credit for residential energy efficient property expenditures; (2) extend through 2012 the tax deductions for expenses of elementary and secondary school educators and qualified tuition and related expenses; (3) make permanent the tax deduction for state and local general sales taxes; and (4) make permanent the exemption from tax penalties for premature retirement plan distributions for charitable purposes.

To amend the Internal Revenue Code of 1986 to modify the rules relating to coins and bullion that may be held by individual retirement accounts and certain other individually-directed accounts.

United States · United States Congress · 6 November 2007

Amends Internal Revenue Code provisions relating to bullion held in individual retirement accounts (IRAs) and other tax-exempt individually directed retirement plans to allow: (1) such bullion to be held in the form of a bar, ingot, or coin; (2) IRA trustees to satisfy physical possession requirements for such bullion by merely holding indicia of ownership; and (3) the transfer of the physical possession of such bullion to a custodian engaged in the business of holding bullion, coins, and precious metals.

Military Service Tax Relief Act of 2007

United States · United States Congress · 6 November 2007

Military Service Tax Relief Act of 2007 - Amends the Internal Revenue Code to make permanent: (1) penalty-free distributions from individual retirement plans to individuals called or ordered to active military duty; and (2) the taxpayer election to include combat zone compensation as earned income for purposes of computing the earned income tax credit.

To amend the Internal Revenue Code of 1986 to exempt motor vehicle donations to certain charities from the limitations on such donations.

United States · United States Congress · 6 November 2007

Amends the Internal Revenue Code to exempt donations of motor vehicles to charities from the limitations and substantiation requirements applicable to such donations if: (1) the employees of the charity are solely responsible for, and perform substantially all of the services for, the daily operations of the charity's vehicle donation program; (2) the charity does not regularly use the property or services of a third party in carrying out its vehicle donation program; and (3) not more than 20% of the annual net proceeds from the sale of donated motor vehicles is paid to third parties for services used by the charity's vehicle donation program.

Education Professional Development Tax Credit Act of 2007

United States · United States Congress · 5 November 2007

Education Professional Development Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow full-time elementary and secondary school teachers a tax credit for professional development and training expenses.

To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.

United States · United States Congress · 5 November 2007

Amends the Internal Revenue Code to extend through 2009: (1) the taxpayer election to expense certain environmental remediation costs; (2) the energy efficient appliance tax credit; and (3) the tax deduction for certain expenses of elementary and secondary school teachers. Increases the maximum allowable amount of such deduction to $500.

Providing for consideration of the conference report to accompany the bill (H.R. 3043) making appropriations for the Departments of Labor, Health and Human Services, and Education, and related agencies for the fiscal year ending September 30, 2008, and for other purposes.

United States · United States Congress · 5 November 2007

Sets forth the rule for consideration of the conference report to accompany the bill (H.R. 3043) making appropriations for the Departments of Labor, Health and Human Services, and Education, and related agencies for the fiscal year ending September 30, 2008.

COUNTING THE CHANGE: ACCOUNTING FOR THE FISCAL IMPACTS OF CONTROLLING CARBON EMISSIONS

United States · United States House of Representatives · 1 November 2007

Individual Alternative Minimum Tax Repeal Act of 2007

United States · United States Congress · 1 November 2007

Individual Alternative Minimum Tax Repeal Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the alternative minimum tax (AMT) for individuals after 2006; and (2) exempt taxpayers with no AMT liability prior to 2006 from current AMT estimated tax penalties.

Elimination of Double Subsidies for the Hardrock Mining Industry Act of 2007

United States · United States Congress · 1 November 2007

Elimination of Double Subsidies for the Hardrock Mining Industry Act of 2007 - Amends the Internal Revenue Code to disallow the percentage depletion allowance for hardrock mines located on land currently subject to the general mining laws, or on land patented under such laws. Establishes in the Treasury the Abandoned Mine Reclamation Trust Fund. Appropriates to such Fund amounts equal to 25% of the additional revenues received due to the disallowance of the depletion allowance for hardrock mines proposed by this Act. Prescribes guidelines under which such Fund shall be available to the Secretary of the Interior for reclamation and restoration of lands and water resources adversely affected by mineral and mineral material mining (excluding coal and fluid minerals).

Border Enforcement, Employment Verification, and Illegal Immigration Control Act

United States · United States Congress · 1 November 2007

Border Enforcement, Employment Verification, and Illegal Immigration Control Act - Directs the Secretary of Homeland Security (Secretary) to: (1) take all appropriate actions, including development of a national border strategy, to maintain operational control over the U.S. international land and maritime borders; (2) report on cross-border security agreements with Mexico and Canada; (3) provide for biometric data enhancements; (4) increase port of entry inspection personnel; (5) report on the airspace security mission's impact on the National Capital Region; (6) reimburse private owners along the border for certain property damage; (7) establish at least one Border Patrol unit for the Virgin Islands; (8) report on Central American gang travel across the U.S.-Mexico border; and (9) deploy radiation portal monitors at U.S. ports of entry to screen inbound cargo for nuclear and radiological material. Amends the Immigration and Nationality Act (INA) with respect to alien smuggling and illegal entry and presence to: (1) provide mandatory minimum sentences on smuggling convictions, and expand seizure and forfeiture authority; (2) make illegal U.S. presence a crime; (3) increase penalties for improper U.S. entry and for marriage fraud; (4) provide mandatory minimum sentences for aliens convicted of reentry after removal; (5) include among smuggling crimes the carrying or use of a firearm during such activity; and (6) revise voluntary departure provisions. Revises passport, visa, and immigration fraud provisions. Provides for immigration backlog reduction. Continues the institutional removal program (IRP) and expands it to all states. Authorizes appropriations for the state criminal alien assistance program (SCAAP). Directs the Secretary: (1) and the Secretary of Defense to develop a plan to increase the availability of Department of Defense (DOD) surveillance equipment along the U.S. international land and maritime borders; (2) to assess border security vulnerabilities on Department of Interior land directly adjacent to the U.S. border; (3) establish a Border Security Advisory Committee; and (4) establish a university-based Center of Excellence for Border Security. Expresses the sense of Congress with respect to border security cooperation with sovereign Indian Nations. Requires the mandatory detention of illegal aliens apprehended at a U.S. port of entry or along the U.S. land or maritime borders. Requires that the Secretary place an alien (other than from Mexico or Canada) who has not been admitted or paroled into expedited removal if apprehended within 100 miles of the border and within 14 days of unauthorized entry. Provides for listing of immigration violators in the National Crime Information Center database. Directs the Secretary to take specified actions to ensure coordination of Department of Homeland Security (DHS) border security efforts. Establishes in DHS an Office of Air and Marine Operations whose primary mission shall be to prevent the entry of terrorists, other unlawful aliens, instruments of terrorism, narcotics, and other contraband into the United States. Directs the Secretary to transfer to United States Immigration and Customs Enforcement all functions of the Customs Patrol Officers unit operating on the Tohono O'odham Indian reservation (the "Shadow Wolves" unit). Authorizes the Secretary to establish within United States Immigration and Customs Enforcement additional Customs Patrol units to operate on Indian lands. Bars an alien: (1) deportable on terrorist grounds from receiving withholding of removal; (2) convicted of an aggravated felony, unlawful procurement of citizenship, or domestic violence, stalking, or child abuse from admissibility; (3) convicted of an aggravated felony from refugee or asylee status adjustment; (4) removable on terrorist grounds from becoming naturalized; and (5) from being naturalized while in removal proceedings. Revises and enhances detention provisions for certain dangerous aliens subject to removal, including establishment of a detention review process for cooperating aliens. Increases penalties and sets mandatory minimum sentences for aliens who fail to comply with removal provisions. Makes an unlawful alien deportable for driving while under the influence or a similar violation. Authorizes (and reimburses) local sheriffs or sheriff coalitions in specified counties along the southern border to enforce the immigration laws and to transfer illegal aliens to federal custody. Sets forth provisions respecting inadmissibility and deportability of alien street gang members. Authorizes the Attorney General to designate a group or association as a criminal street gang. Requires mandatory detention of alien gang members subject to removal. Makes such aliens ineligible for asylum and protection from removal to certain countries. Bars naturalization of an alien determined to be or have been a terrorist. Authorizes expedited removal for aliens inadmissible for security or criminal grounds. Makes sexual abuse of a minor an aggravated felony for immigration purposes. Increases penalties for document fraud. Directs the Secretary to establish, and sets forth the provisions for, an employment eligibility verification system. Expands the employment eligibility verification system to include: (1) previously hired individuals; and (2) recruitment and referral. Sets forth civil and criminal penalty provisions for noncompliance. Provides for: (1) voluntary employer verification utilizing such system two years after enactment of this Act for previously hired individuals; (2) mandatory employer verification three years after enactment of this Act by federal, state, and local governments, and the military for employees not verified under such system working at federal, state or local government buildings, military bases, nuclear energy sites, weapons sites, airports, or critical infrastructure sites; and (3) mandatory employer verification six years after enactment of this Act for all employees not previously verified under such system. Makes employer participation in the basic pilot program mandatory two years after enactment of this Act. Employment Eligibility Verification and Anti-Identity Theft Act - Directs: (1) the Commissioner of the Social Security Administration to notify a person or entity that the name and Social Security account number submitted by the person or entity for an individual does not match Social Security Administration (SSA) records; (2) the Secretary to notify a person or entity that an immigration status document or employment authorization document required for employment eligibility verification was assigned to another person or that there is no agency record of document assignment; and (3) the Secretary to establish a verification system through which persons or entities that have received such notice shall verify an individual's employment authorization and identity. Provides for improved birth certificate security. Stop the Misuse of ITINS Act of 2007 - Amends the Internal Revenue Code to require the Secretary of the Treasury to notify the Secretary of any employer tax return showing wages paid to an employee who is not authorized to be employed in the United States. Authorizes the Board of Immigration Appeals to reverse an immigration judge's removal decision without remand. Eliminates judicial review of visa revocation. Requires an alien applying for withholding of removal to establish that his or her life or freedom would be threatened in the country of return, and that race, religion, nationality, or political or social group would be a central factor in such threat. Provides for an international passenger prescreening pilot program. Security and Fairness Enhancement for America Act of 2007 or SAFE for America Act - Eliminates the diversity immigrant program. Taking Action to Keep Employees Accountable in Immigration Matters Act of 2007 or TAKE AIM Act of 2007 - Revises the structure of the Office of Security and Internal Investigation. Revises the temporary agricultural worker program.

To allow employees of a commercial passenger airline carrier who receive payments in a bankruptcy proceeding to roll over such payments into an individual retirement plan, and for other purposes.

United States · United States Congress · 1 November 2007

Allows employees of commercial passenger airlines who receive payments from a bankruptcy case filed between September 11, 2001, and January 1, 2007, as compensation for lost pension plan benefits to rollover such payments into an individual retirement account (IRA), except for a Roth IRA, without tax or tax penalty.

Child Care Family Tax Relief Act of 2007

United States · United States Congress · 1 November 2007

Child Care Family Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for expenses for household and dependent care services; and (2) allow an inflation adjustment after 2007 to the adjusted gross income limitation applicable to such credit. Makes such increased tax credit permanent.

Teacher Tax Deduction Enhancement Act of 2007

United States · United States Congress · 1 November 2007

Teacher Tax Deduction Enhancement Act of 2007 - Amends the Internal Revenue Code to: (1) extend until 2015 the tax deduction for certain expenses of elementary and secondary school educators (i.e., teachers, instructors, counselors, principals, or aides); (2) increase to $500 the allowable amount of such deduction for full-time educators (working at least 900 hours during the school year); and (3) allow such tax deduction for educators in preschool programs.

Family Farm, Small Business, and Home Tax Relief Act

United States · United States Congress · 1 November 2007

Family Farm, Small Business, and Home Tax Relief Act - Amends the Internal Revenue Code to: (1) accelerate from 2009 to 2008 the $3.5 million unified estate tax credit and adjust such credit amount for inflation in calendar years after 2008; (2) reduce the maximum estate tax rate from 49 to 43% in 2008; (3) restore and increase to $8 million the estate tax deduction for family-owned business interests and adjust such deduction amount for inflation after 2008; (4) accelerate from 2010 to 2008 the repeal of the tax on generation-skipping transfers; and (5) allow an exclusion, in calculating the gross estate for estate tax purposes, of the adjusted value of a decedent's principal residence, up to $2 million.

S. 2063, THE BIPARTISAN TASK FORCE FOR RESPONSIBLE FISCAL ACTION ACT OF 2007

United States · United States Senate · 31 October 2007

A bill to amend the Internal Revenue Code of 1986 to increase the limitation on the issuance of qualified veterans' mortgage bonds for Alaska, Oregon, and Wisconsin and to modify the definition of qualified veteran.

United States · United States Congress · 31 October 2007

Amends the Internal Revenue Code to: (1) increase to $100 million the veterans mortgage bond limitation in Alaska, Oregon, and Wisconsin; (2) eliminate the phase-in of the bond limitation; and (3) revise the definition of "qualified veteran" for mortgage bond financing eligibility purposes to make such definition applicable to veterans in all states.

Americans Giving care to Elders (AGE) Act of 2007

United States · United States Congress · 31 October 2007

Americans Giving care to Elders (AGE) Act of 2007 - Amends the Internal Revenue Code to allow caregivers a tax credit for up to $6,000 of the eldercare expenses incurred for their parents (or ancestors of such parents). Amends the Older Americans Act of 1965 to: (1) increase funding for the National Family Caregiver Support Program through FY2011; and (2) establish a National Resource Center on Family Caregiving to provide information on and support for family caregiver support programs.

Unemployment Insurance for Survivors Act of 2007

United States · United States Congress · 31 October 2007

Unemployment Insurance for Survivors Act of 2007 - Amends the Internal Revenue Code (Federal Unemployment Tax Act) to add as a condition for approval of a state unemployment compensation law that it does not deny unemployment compensation to individuals separated from employment because of circumstances resulting from the experience of domestic violence, dating violence, sexual assault, or stalking. Prohibits states from imposing additional conditions restricting the individual's eligibility for or receipt of unemployment benefits beyond those required of other individuals forced to leave their jobs or deemed to have good cause for voluntary separating from a job. Amends title III (Grants to States for Unemployment Compensation Administration) of the Social Security Act (SSA) to prohibit the Secretary of Labor from providing grants to states for unemployment compensation administration unless: (1) unemployment compensation applicants are notified of the requirements of this Act; and (2) claims reviewers and hearing personnel are adequately trained in the nature and dynamics of domestic violence, dating violence, sexual assault, or stalking, and in methods of ascertaining and keeping confidential information about such applicants' possible experiences. Amends SSA title IV part A (Temporary Assistance to Needy Families) (TANF) to require a state TANF plan to require the state's chief officer to certify that the state has established and is enforcing standards and procedures to: (1) notify TANF applicants of the requirements of this Act and related assistance; and (2) ensure that TANF personnel receive adequate related training. Authorizes the Secretary of Health and Human Services to award development grants for model training programs under this Act to a national victim services organization and to state, tribal, or local agencies.

Universal Homeowners' Tax Relief Act of 2007

United States · United States Congress · 31 October 2007

Universal Homeowners' Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow an additional standard tax deduction (available to taxpayers who do not itemize) for state and local real property taxes paid before January 1, 2011.

Community Action Rebuilding Effort Act of 2007

United States · United States Congress · 31 October 2007

Community Action Rebuilding Effort Act of 2007 - Authorizes the Secretary of the Treasury to provide with respect to the California wildfires of October 2007 tax treatment of employer leave-based donation programs similar to the tax treatment provided for such programs after Hurricane Katrina by Internal Revenue Service (IRS) Notice 2005-68 (i.e., cash payments by employers to charitable organizations for disaster relief purposes in exchange for foregone employee leave is not taxed as income to participating employees and is deductible by employers as a necessary business expense.)

Supporting the Local Radio Freedom Act.

United States · United States Congress · 31 October 2007

Declares that Congress should not impose any new performance fee, tax, royalty, or other charge relating to the public performance of sound recordings on a local radio station for broadcasting sound recordings over-the-air, or on any business for such public performance of sound recordings.

Third Higher Education Extension Act of 2007

United States · United States Congress · 30 October 2007

Third Higher Education Extension Act of 2007 - Amends the Higher Education Extension Act of 2005 to extend the programs under the Higher Education Act of 1965 through March 31, 2008. Amends the Higher Education Act of 1965 to consider trustees acting on behalf of certain governmental or tax-exempt entities as eligible nonprofit holders of Federal Family Education Loans (FFELs), regardless of whether or not such entities are eligible FFEL lenders.

Cooperative Tax Deduction Preservation Act of 2007

United States · United States Congress · 30 October 2007

Cooperative Tax Deduction Preservation Act of 2007 - Amends the Internal Revenue Code to set forth alternative tests for qualifying as a cooperative housing corporation for purposes of the tax deduction for payments to such corporations. Qualifies a corporation if: (1) 80% or more of the total square footage of the corporation's property is used or available for use by its tenant-stockholders for residential purposes, or (2) 90% of the corporation's expenditures are for the acquisition, construction, management, maintenance, or care of its property for the benefit of the tenant-stockholders.

A bill to extend the existing provisions regarding the eligibility for essential air service subsidies through fiscal year 2008.

United States · United States Congress · 30 October 2007

Amends the Vision 100--Century of Aviation Reauthorization Act to extend through FY2008 the effectiveness of any final order of the Secretary of Transportation, including exisitng final orders, with respect to the eligibility for essential air service subsidies of any place in the United States based on highway mileage between it and the nearest medium hub airport or large hub airport.

A bill to amend the Internal Revenue Code of 1986 to extend for 2 years the tax-free distributions from individual retirement plans for charitable purposes.

United States · United States Congress · 30 October 2007

Amends the Internal Revenue Code to extend through 2009 the exemption from tax penalties for premature distributions from retirement plans made for charitable purposes.

A bill to extend the existing provisions regarding the eligibility for essential air service subsidies through fiscal year 2008.

United States · United States Congress · 30 October 2007

Amends the Vision 100--Century of Aviation Reauthorization Act to extend through FY2008 the effectiveness of any final order of the Secretary of Transportation, including exisitng final orders, with respect to the eligibility for essential air service subsidies of any place in the United States based on highway mileage between it and the nearest medium hub airport or large hub airport.

Tax Increase Prevention Act of 2007

United States · United States Congress · 30 October 2007

Temporary Tax Relief Act of 2007 - Amends Internal Revenue Code provisions relating to the alternative minimum tax, the discharge of mortgage indebtedness, and tax administration and extends certain expiring tax credits, deductions, and other tax incentives. Extends through 2007: (1) offsets against the alternative minimum tax for certain nonrefundable income tax credits; and (2) increased alternative minimum tax exemptions for individual taxpayers. Extends through 2008 various expiring tax provisions primarily affecting individual taxpayers, including: (1) the tax deductions for state and local sales taxes, for qualified tuition and related expenses, for qualified conservation contributions, for certain expenses of elementary and secondary school teachers, and for the travel expenses of state legislators while away from home; (2) tax-free distributions from individual retirement accounts for charitable purposes; (3) the taxpayer election to include combat pay as earned income for purposes of the earned income tax credit; (4) special rules for qualified mortgage bonds to finance home purchases by veterans; and (5) tax-free distributions from retirement plans for individuals called to active military service. Extends through 2008 various expiring tax provisions primarily affecting businesses, including: (1) the tax credits for increasing research expenses, for hiring workers on Indian reservations, for investment in new markets, for railroad track maintenance, and for hiring workers in areas affected by Hurricane Katrina; (2) accelerated depreciation for qualified leasehold and restaurant improvements, for motorsports entertainment complexes, and for business property on Indian reservations; (3) expensing allowances for environmental remediation costs; (4) tax deductions for contributions of food and book inventories and for computer equipment for educational purposes; and (5) tax incentives for investment in the District of Columbia and American Samoa. Extends through 2008 authorities for: (1) issuing qualified zone academy bonds; (2) making disclosures of tax information to facilitate student loan repayments and for combating terrorist activities; and (3) Internal Revenue Service (IRS) undercover operations. Allows an exclusion from gross income for up to $2 million of the income attributable to discharges of home mortgage indebtedness incurred after January 1, 2007. Extends through 2014 the tax deduction for mortgage insurance premiums. Sets forth alternative criteria for qualifying a corporation as a cooperative housing corporation for purposes of the tax deduction for payments to such corporations. Limits the exclusion from gross income of gain from the sale of a principal residence by denying an exclusion of the gain that is allocable to a nonqualified use of such residence (i.e., use other than as a principal residence). Repeals the authority of the IRS to enter into private debt collection contracts. Delays until 2012 the requirement for federal, state, and local agencies to withhold 3% of payments for goods and services provided to such agencies. Revises tax administration provisions and rules relating to: (1) tax returns of certain U.S. Virgin Island residents; and (2) the tax treatment of high-income individuals who relinquish U.S. citizenship or residency to avoid U.S. taxation (expatriates). Repeals the 36-month suspension of interest and penalties on tax underpayments for taxpayers not notified of a tax deficiency by the IRS. Increases tax penalties for failure to file accurate tax information returns. Amends the Tariff Act of 1930 to provide that wine of the same color shall be deemed to be commercially interchangeable for purposes of the duty drawback for unused merchandise.

Defenders of Freedom Tax Relief Act of 2007

United States · United States Congress · 30 October 2007

Heroes Earnings Assistance and Relief Tax Act of 2007 - Amends Internal Revenue Code provisions relating to members of the uniformed services to: (1) make permanent provisions relating to the earned income tax credit, mortgage bond financing for veterans, tax-free distributions from the retirement plans of active duty military personnel, and the authority of the Internal Revenue Service (IRS) to provide tax return information to the Department of Veterans Affairs for benefit determinations; (2) enhance pension plan benefits for active duty personnel and their survivors; (3) allow volunteer firefighters and emergency medical responders a tax exclusion for certain state benefits and payments; (4) allow tax-free rollovers of military death gratuities and life insurance benefits into survivor Roth individual retirement accounts (Roth IRAs) and education savings plans; and (5) allow Peace Corps volunteers a five-year suspension of the use and ownership requirements applicable to the tax exclusion of gain from the sale of a principal residence. Amends title XVI (Supplemental Security Income for the Aged, Blind, and Disabled) of the Social Security Act to increase supplemental security income (SSI) benefits for members of the uniformed services. Excludes certain state annuity payments to blind veterans and cash or in-kind benefits paid to an AmeriCorps participant from SSI benefit determinations. Increases penalties for failure to file individual, partnership, and S corporation tax returns and other tax information returns.

To amend the Internal Revenue Code of 1986 to exclude from gross income the stipends received for working as an election judge.

United States · United States Congress · 30 October 2007

Amends the Internal Revenue Code to exclude from gross income stipends received for service as an election judge for any federal, state, or local election or for completing a training course to become an election judge. Defines "election judge" to include poll workers and other individuals performing similar functions.

Youth Exchange Support Act of 2007

United States · United States Congress · 29 October 2007

Youth Exchange Support Act of 2007- Amends the Internal Revenue Code to: (1) increase, from $50 to $200 per month, the tax deduction for the expenses of certain students living in a taxpayer's household; and (2) provide an inflation adjustment, beginning in 2009, for such amount.