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Bill· HRH.R. 4785 (97th)referred
United States · United States Congress · 20 October 1981
Amends the Internal Revenue Code to revise requirements for the exclusion of interest on mortgage subsidy bonds. Repeals provisions which allow tax-exempt status for such bonds if 95 percent of the mortgages financed by such issues are in compliance with stated requirements. Provides that a showing that the issuing authority has tried in good faith to satisfy all requirements will cure a failure to meet any particular requirement if such failure is corrected within a reasonable time after its discovery. Allows bondholders to rely upon an issuer's good faith covenant as to a compliance. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action. Changes the method of determining the average area purchase price for purposes of the purchase price requirements for bond-financed mortgages. Specifies that the average area purchase price shall not include residences which are not typically financed through normal real estate mortgage loans and that such price may be determined separately for new and previously occupied homes. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Changes the method of determining the yield on an issue. Specifies that issuers are not required to dispose of any investment and realize a loss in order to satisfy arbitrage restrictions. Allows two or more qualified mortgage bond issues of a single issuer to be combined for purposes of determining compliance with arbitrage requirements. Permits issuers to maintain a reasonable reserve against investment losses and to allocate credits or payments between eligible mortgagors. Exempts mortgages insured by the Federal Housing Administration or guaranteed by the Veterans Administration from certain mortgage assumption requirements. Includes energy impacted areas within the definition of targeted areas for purposes of the special treatment of targeted area residences. Repeals the requirement that the designation of areas of chronic economic distress be approved by the Secretary of Housing and Urban Development. Limits the designation of areas of chronic economic distress to 25 percent of the geographic area within a State. Redefines statistical areas to include two or more statistical areas combined. Repeals the registration requirements for bond issues.
Bill· HRH.R. 4784 (97th)referred
United States · United States Congress · 20 October 1981
Amends the Internal Revenue Code to permit a handicapped taxpayer or a taxpayer with a handicapped dependent to elect the one-time exclusion of gain from the sale or exchange of a principal residence.
Resolution· HRESH.Res. 247 (97th)passed
United States · United States Congress · 20 October 1981
Sets forth the rule for the consideration of H. R. 4503 (Water Pollution Control Act funding).
Bill· SS. 1749 (97th)open
United States · United States Congress · 19 October 1981
Amends the Internal Revenue Code to deny a tax deduction of payments to officials and employees of foreign governments only if such payments would be unlawful under the Foreign Corrupt Practices Act of 1977 (currently such payments are not deductible if the payment would violate any of the laws of the United States.).
Bill· SS. 1745 (97th)open
United States · United States Congress · 16 October 1981
Amends the Tax Reform Act of 1969 to exempt from the divestiture requirements of the Internal Revenue Code certain private foundations which owned 100 percent of the voting stock in an incorporated business enterprise on May 26, 1969, and which are not managed by the donor of the stock or any family member.
Bill· SS. 1744 (97th)open
United States · United States Congress · 15 October 1981
Authorizes appropriations for the Department of Energy for fiscal years 1982 and 1983 for the naval petroleum reserves and naval oil shale reserves.
Bill· HRH.R. 4759 (97th)referred
United States · United States Congress · 15 October 1981
Prohibits a State or political subdivision from imposing an income tax on any nonresident individual if such individual is subject to income tax where he resides.
Bill· HRH.R. 4752 (97th)referred
United States · United States Congress · 15 October 1981
Individual Housing Account Act of 1981 - Amends the Internal Revenue Code to allow an individual who has never owned a principal residence an income tax credit for 20 percent of the cash contributions made during the taxable year to an individual housing account. Limits the amount of such credit to $1,000 for any taxable year and $3,000 during a lifetime. Sets forth requirements for the establishment of an individual housing account. Imposes penalties for distributions made from an individual housing account which are not used in connection with the purchase of a principal residence. Exempts interest earned on an individual housing account from income taxation. Requires the trustee of an individual hoising account to make such reports regarding the maintenance of an individual housing account as the Secretary of the Treasury may require. Prohibits contributions to an individual housing account in excess of prescribed limits and imposes a tax on such excess contributions equal to the tax on excess contributions to an individual retirement account.
Bill· HRH.R. 4770 (97th)referred
United States · United States Congress · 15 October 1981
Amends the Internal Revenue Code to provide farmers a refundable income tax credit based on the number of soil conservation acres which they utilize. Defines "soil conservation acres" as land owned by the taxpayer which is used in farming in which only conservation tillage practices are used (procedures which reduce soil erosion by minimizing the amount of plowing). Reduces the credit by the amount of governmental grants received for the purpose of carrying out conservation tillage practices.
Bill· SS. 1733 (97th)open
United States · United States Congress · 14 October 1981
Amends the Internal Revenue Code to allow the executor of an estate to request the Secretary of the Treasury to audit the fair market value of any property to which the special use valuation applies. Permits an executor, in the absence of an agreement with the Secretary as to fair market value, to bring an action in the Tax Court for a declaration of such value. Prohibits the commencement of an action during the 18 months following the executor's request for an audit, unless the Secretary has already sent by certified or registered mail a notification of disagreement with the value shown on the estate tax return. Requires the pleading to be filed, where such notification has been sent, within 90 days. Makes binding on the Secretary and on any qualified heir: (1) a notification of the Secretary's disagreement sent within three years after the executor's audit request, unless an action is brought in the prescribed time period; and (2) the fair market value shown on the return if the Secretary does not send such a notification within three years after the request. Makes binding on qualified heirs any Tax Court declaration of fair market value made under this Act. Permits a qualified heir to intervene in any proceeding brought under this Act. Provides for the issuance by the Tax Court of declaratory judgments regarding the alternate extension of time for payment of the estate tax where the estate consists largely of an interest in a closely held business.
Bill· SS. 1734 (97th)open
United States · United States Congress · 14 October 1981
Amends the Internal Revenue Code to modify the alternate extension of time for payment of the estate tax for an estate consisting of a closely held business to provide that subsequent transfers of property by reason of the death of a person who acquired the property through the decedent's estate will not accelerate payment of the tax.
Bill· HRH.R. 4739 (97th)referred
United States · United States Congress · 14 October 1981
Amends the Internal Revenue Code to grant tax-exempt status to crude oil purchasing cooperatives on the same basis as such status is applied to farmers' cooperatives. Defines "crude oil purchasing cooperative" as a cooperative purchasing association all of whose members are independent refiners or cooperatives described in specified Internal Revenue Code provisions and which is organized and operated for purposes of: (1) purchase of crude oil and resale to members, nonmember independent refiners, and certain other nonmember cooperatives and return of proceeds of such resales, less necessary expenses; (2) purchase of supplies and equipment for such parties at cost plus necessary expenses; (3) trading and storage of crude oil; and (4) insurance of risks associated with the oranization's activities.
Bill· HRH.R. 4743 (97th)referred
United States · United States Congress · 14 October 1981
Amends the Internal Revenue Code to preclude integrated oil companies from electing to expense intangible drilling and development costs. Defines "integrated oil company" to be a retailer or refiner of crude oil as defined under the Internal Revenue Code for purposes of the depletion deduction.
Bill· HRH.R. 4741 (97th)referred
United States · United States Congress · 14 October 1981
Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for the exclusion from gross income of a certain amount of interest and dividend income received by a taxpayer. Amends the Economic Recovery Tax Act of 1981 to restore the full dividend and interest exclusion.
Bill· HRH.R. 4742 (97th)referred
United States · United States Congress · 14 October 1981
Amends the Internal Revenue Code to increase the investment yield requirement on tax-exempt all savers certificates from 70 to 85 percent of the average investment yield for Treasury bills with 52-week maturities.
Bill· SS. 1713 (97th)open
United States · United States Congress · 7 October 1981
Amends the Internal Revenue Code to provide for the nonrecognition of gain from the sale of farmland development rights under a qualified State farmland preservation program if the taxpayer purchases qualified farming property within 18 months of such sale. Excludes from gross income up to $100,000 of gain from the sale of farmland development rights by an individual who is age 55 or older. Allows a charitable contribution deduction for gain from the sale of farmland development rights to a State to the extent that the fair market value of such rights exceeds the amount actually received by the taxpayer.
Bill· SS. 1731 (97th)open
United States · United States Congress · 7 October 1981
Energy Impact Mitigation Tax Incentive Act of 1981 - Amends the Internal Revenue Code to allow an income tax deduction for any energy impact assistance made by the taxpayer during the taxable year. Defines "energy impact assistance" as an expenditure made for the purpose of providing either public facilities or services which are designed to meet the needs of area population growth resulting from energy development. Directs that expenditures must be certified as having been made to conform with the State's or appropriate political subdivision's plan to meet this need. Includes certain payments of tax, fees, rent, or other payments to the Federal Government, State, or political subdivision.
Bill· SS. 1715 (97th)open
United States · United States Congress · 7 October 1981
Repeals provisions of the Economic Recovery Tax Act of 1981 which set forth special rules for the leasing of depreciable business property between corporations.
Law· HRH.R. 4717 (97th)enacted
United States · United States Congress · 7 October 1981
Amends the Crude Oil Windfall Profit Tax Act of 1980 to defer until December 31, 1982, the effective date of the requirement that in cases of corporate liquidations a corporation inventorying goods under the last-in, first-out (LIFO) method of accounting treat the LIFO recapture amount with respect to distributed inventory assets as ordinary income.
Bill· HRH.R. 4723 (97th)referred
United States · United States Congress · 7 October 1981
Amends the Internal Revenue Code to exempt from the tax on unrelated business taxable income any proceeds from bingo games conducted by tax-exempt organizations in violation of any State or local law not generally enforced.
Bill· HRH.R. 4722 (97th)referred
United States · United States Congress · 7 October 1981
Amends the Internal Revenue Code to exclude from gross income up to $7,000 of retirement benefits received by a police officer or firefighter under a public retirement system.
Bill· HRH.R. 4718 (97th)referred
United States · United States Congress · 7 October 1981
Amends the Revenue Act of 1978 to provide that the credit or refund resulting from the qualification of single purpose agricultural or horticultural structures for the investment tax credit shall be allowed without regard to the statute of limitations or any rule of law (including res judicata) which may apply to taxable years to which the credit applies.
Resolution· HRESH.Res. 243 (97th)referred
United States · United States Congress · 7 October 1981
Expresses the sense of the House of Representatives that the provisions of the Internal Revenue Code which provide incentives for energy conservation and development of renewable energy sources should not be repealed or amended to reduce such incentives.
Bill· HRH.R. 4704 (97th)open
United States · United States Congress · 6 October 1981
Amends the Internal Revenue Code to allow an income tax exclusion for interest earned on national home building bonds. Defines "national home building bonds" as certificates of deposits issued before 1985 which are used to provide owner-financing of single family residences. Requires that such bonds have a maturity rate of three years, an investment yield not exceeding ten percent, and be issued in denominations of at least $1,000. Prescribes percentage tables for determining the interest rate on such financing.
Bill· HRH.R. 4695 (97th)referred
United States · United States Congress · 6 October 1981
Extends to 60 days the period for which Government employees who were evacuated from Iran in fiscal year 1979 may be reimbursed for subsistence expenses incurred while occupying temporary quarters.
Bill· HRH.R. 4699 (97th)referred
United States · United States Congress · 6 October 1981
Artist's Tax Equity and Donation Act of 1981 - Amends the Internal Revenue Code to allow an income tax deduction for the current fair market value of a literary, musical, or artistic composition created by the taxpayer and contributed to a charitable organization. Disallows a fair market value deduction for a contribution of property which was produced while the taxpayer was a Government officer or employee if such property arose out of the performance of the taxpayer's duties. Permits the executor of an estate, in calculating the gross estate, to elect to value any copyright or any literary, musical, or artistic work created by the decedent at an amount equal to the decedent's adjusted basis in such property.
Bill· HRH.R. 4701 (97th)referred
United States · United States Congress · 6 October 1981
Retirement Incentives Savings Tax Act of 1981 - Amends the Internal Revenue Code to allow individual taxpayers a nonrefundable income tax credit equal to 50 percent of their qualified contributions to individual retirement accounts or employer or government pension plans for a taxable year. Limits the amount of such credit to the lesser of $2,000 or the compensation includible in the taxpayer's gross income for the taxable year. Specifies that no credit may be allowed for such contributions made to the account of any individual who has reached age 59 1/2 or for employer contributions to simplified employee pensions. Limits the amount of such credit for an individual who has paid any designated voluntary employee contributions to the lesser of $2,000 or the compensation includible in the taxpayer's gross income for the taxable year reduced by the amount of such designated voluntary employee contributions. Increases the amount of the income tax deduction for contributions to an individual retirement account to the lesser of $2,000 or the taxpayer's compensation which is includible in his gross income. Requires an individual to be between the ages of 59 1/2 and 70 1/2 in order for contributions made to such individual taxpayer's retirement account to qualify for the retirement savings tax deduction. Provides special rules with respect to both the retirement savings credit and the deduction for certain divorced and married individuals.
Resolution· HRESH.Res. 240 (97th)passed
United States · United States Congress · 6 October 1981
Sets forth the rule for the consideration of H.R. 3403 (Emergency response centers funding).
Bill· HRH.R. 4677 (97th)referred
United States · United States Congress · 5 October 1981
Responsible Revenue Act of 1981 - Repeals provisions in the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) increase the credit for royalty owners for 1981; (2) exempt royalty oil for 1982 and thereafter; and (3) reduce the tax imposed on newly discovered oil. Repeals provisions setting forth special rules for the leasing of depreciable business property between corporations. Amends the Internal Revenue Code to repeal the percentage depletion allowable for independent oil and gas producers and royalty owners. Repeals the tax treatment of intangible drilling and development costs for oil and gas wells as currently deductible expenses. Requires such costs to be capitalized and amortized over a five year period. Denies the foreign tax credit for foreign oil and gas extraction taxes. Treats income from the extraction of foreign oil and gas, for purposes of the limitation on such credit, as income from sources within the United States. Allows a deduction for such taxes. Repeals the exemption from taxation of a domestic international sales corporation (DISC). Terminates DISC status for any corporation for taxable years beginning after December 31, 1980. Includes in the gross income of a U.S. shareholder of a controlled foreign corporation, with specified exceptions, the taxpayer's pro rata share of the corporation's undistributed profits for the taxable year. Terminates the inclusion of certain amounts in the gross income of such a shareholder with respect to taxable years beginning after December 31, 1980.
Bill· HRH.R. 4680 (97th)referred
United States · United States Congress · 5 October 1981
Amends the Internal Revenue Code to exclude from gross income gain from the sale of wetlands to an eligible conservation authority which are used for fish and wildlife conservation or preserved as a natural area. Requires that such sales be approved by State and Federal officials. Treats involuntary conversions of wetlands as sales for purposes of such exclusion.
Bill· HRH.R. 4676 (97th)referred
United States · United States Congress · 5 October 1981
Amends the Internal Revenue Code to limit to $5,000 the amount of living expenses which Members of Congress may deduct from their incomes.
Bill· HRH.R. 4678 (97th)referred
United States · United States Congress · 5 October 1981
Amends the Internal Revenue Code to repeal the requirement, with respect to liquidation plans adopted after December 31, 1981, that a corporation inventorying goods under the last-in, first-out (LIFO) method of accounting treat the LIFO recapture amount with respect to distributed inventory assets as ordinary income.
Bill· HRH.R. 4667 (97th)open
United States · United States Congress · 2 October 1981
Amends the Internal Revenue Code to include certain tax-exempt scientific research organizations as eligible recipients of scientific property for purposes of the special computation of the charitable contribution deduction for such property.
Bill· HRH.R. 4665 (97th)referred
United States · United States Congress · 2 October 1981
Repeals provisions of Public Law 97-51 (Continuing Appropriations for Fiscal Year 1982) which make permanent appropriations for the compensation of Members of Congress. Amends the Internal Revenue Code to restore the $3,000 limit on the income tax deduction allowed Members of Congress for living expenses while away from home.
Bill· HRH.R. 4663 (97th)referred
United States · United States Congress · 2 October 1981
Amends the Internal Revenue Code to exempt from the manufacturers excise tax on firearms any individual who does not produce more than 50 firearms during the calendar year.
Bill· SS. 1695 (97th)open
United States · United States Congress · 1 October 1981
Repeals the tax on generation-skipping transfers, effective June 11, 1976.
Bill· HRH.R. 4658 (97th)referred
United States · United States Congress · 1 October 1981
Amends the Internal Revenue Code to provide that the suspension of the 18-month period in which an individual must purchase a new residence for nonrecognition of gain on the sale of an old residence which is granted to members of the armed forces who are stationed overseas or who are required to reside in Government-owned quarters shall be extended to the later of four years after the date of the sale of the old residence (as currently provided) or one year after the date on which the taxpayer is no longer stationed overseas or required to reside in Government-owned quarters.
Bill· HRH.R. 4656 (97th)referred
United States · United States Congress · 1 October 1981
Repeals provisions of Public Law 97-51 (Continuing Appropriations for Fiscal Year 1982) which make permanent appropriations for the compensation of Members of Congress. Amends the Internal Revenue Code to restore the $3,000 limit on the income tax deduction allowed Members of Congress for living expenses while away from home.
Bill· HRH.R. 4659 (97th)referred
United States · United States Congress · 1 October 1981
Permits the imposition of an occupational privilege tax upon Federal employees of a Veterans Administration hospital located in Caln Township, Chester County, Pennsylvania, by the government of such township, if such tax does not discriminate against such employees due to their employment at such hospital.
Bill· HRH.R. 4653 (97th)referred
United States · United States Congress · 1 October 1981
Repeals provisions of the Economic Recovery Tax Act of 1981 which set forth special rules for the leasing of depreciable business property between corporations.
Bill· HRH.R. 4635 (97th)referred
United States · United States Congress · 30 September 1981
Title I: Department of State - Department of State Authorization Act, Fiscal Years 1982 and 1983 - Authorizes appropriations for fiscal years 1982 and 1983 for the Department of State to be used for: (1) administration of foreign affairs; (2) international organizations and conferences; (3) international commissions; and (4) migration and refugee assistance. Limits the amount of any U.S. payment to the United Nations budget to the amount assessed as the U.S. contribution less: (1) 25 percent of the budget for the Committee on the Exercise of the Inalienable Rights of the Palestinian People; and (2) 25 percent of the budget for the Special Unit on Palestinian rights. Prohibits using appropriated funds to pay the U.S. contribution to the United Nations Educational, Scientific and Cultural Organization (UNESCO) if UNESCO implements a policy to: (1) license journalists or their publications; (2) restrict the free flow of information; or (3) impose mandatory journalistic codes. Directs the Secretary of State to report annually to Congress on whether UNESCO has taken any such action. Makes a specified amount available for an ex gratia payment in Yugoslavia as an expression of U.S. concern for the injuries suffered by a Yugoslavian national who was attacked in New York City. Requires a specified portion of the authorized appropriations for migration and refugee assistance to be available for resettling Soviet and Eastern European refugees in Israel. Authorizes appropriations for fiscal years 1982 and 1983 for payment of the U.S. share of expenses of the science and technology agreements between the United States and Yugoslavia and the United States and Poland. Amends the State Department Basic Authorities Act of 1956 to authorize appropriations to maintain the level of State Department program activities despite foreign currency fluctuations or overseas wage and price changes. Establishes an appropriation account for such purpose. Authorizes the Secretary to transfer funds between such account and other appropriations accounts to maintain the buying power of State Department programs by offsetting such fluctuations or changes. Amends the United States Information and Educational Exchange Act of 1948 and the Board for International Broadcasting Act of 1973 to authorize appropriations to offset foreign currency fluctuations or overseas wage and price changes in order to maintain the authorized level of expenditures for the International Communication Agency (ICA) and the Board for International Broadcasting. Amends the passport provisions to authorize the Secretary of State to set the fees for issuing passports and for executing passport applications. Extends the duration of a passport's validity from five to ten years. Authorizes the Secretary to limit a passport's validity to a shorter period. Amends the State Department Basic Authorities Act of 1956 to make certain passports and reports issued to document citizens born abroad as effective in proving U.S. citizenship as certificates of naturalization. Deletes the limitations under current Federal laws on the authorized appropriations for payment of the U.S. share of the expenses of the: (1) Pan American Institute of Geography and History; (2) Hague Conference on Private International Law and of the International (Rome) Institute for the Unification of Private Law; and (3) Pan American Railway Congress. Amends the United Nations Participation Act of 1945 to direct the President to appoint a U.S. representative to the Vienna office of the United Nations. Provides for living quarters for certain U.S. representatives to the United Nations rather than only for the U.S. Ambassador to the United Nations. Credits any payments made by U.S. personnel for such living quarters to the fund used by the Secretary to rent the premises. Exempts certain private sector representatives on U.S. delegations to international telecommunications conferences from specified criminal sanctions applicable to Federal employees. Amends the State Department Basic Authorities Act of 1956 to allow for the State Department and Foreign Service procurement contracts of up to five years, if: (1) appropriations are available and adequate for the first fiscal year and for potential cancellation costs; and (2) the Secretary makes specified determinations. Requires contracts to be cancelled if funds are not available for its continuation. Makes the provisions of the Defense Base Act relating to the compensation for disability or death for persons employed at military bases outside the United States inapplicable with respect to contracts with persons employed by the State Department or the Foreign Service on an intermittent basis. Directs the Secretary to establish an independent Office of Foreign Missions within the Department of State. Authorizes the Director of such Office to: (1) assist Federal, State, and municipal agencies to ascertain the benefits due a foreign mission; (2) provide benefits for or on behalf of a foreign mission; and (3) perform such other functions as the Secretary determines necessary. Authorizes the Secretary to require a foreign mission to obtain benefits from the Director on terms approved by the Secretary or to comply with certain terms, including paying the Director a fee and waiving any recourse against any governmental authority or employee, as a condition to the performance of certain contracts, the acquisition of real property, or the application for or acceptance of any benefit. Authorizes such requirement if the Secretary determines they are necessary to: (1) facilitate relations between the U.S. and a sending state (a state represented by such mission); (2) protect U.S. interests; (3) adjust for costs and procedures of obtaining benefits for U.S. missions abroad; or (4) assist in resolving a dispute affecting U.S. interests. Authorizes the Secretary to designate an agent of a foreign mission to make a required waiver of recourse for the foreign mission. Prohibits the State Department from certifying more than two persons from each foreign mission for diplomatic license plates. Authorizes the Secretary to require a foreign mission to: (1) notify the Director before acquiring or disposing of real property; and (2) divest itself of or forgo the use of real property if such property was acquired without notice to the Director or exceeds the limits placed on real property available to U.S. missions in the sending state. Authorizes the Secretary to protect and dispose of any property of a foreign mission which has ceased conducting governmental activities and has not designated a protecting power. Makes the location, replacement, or expansion of a foreign mission's real property in the District of Columbia subject to the approval of the District of Columbia Foreign Missions Commission. Creates the Foreign Missions Commission to establish: (1) areas within which chanceries may be located as a matter of right; and (2) additional areas within which chanceries may be located. Sets forth the criteria for the Commission's determinations about such real property. Provides for the administration and management of the Office of Foreign Missions. Makes the provisions of such Act applicable to public international organizations and their official missions. Prohibits compliance with such provisions by a foreign mission from being deemed a waiver of immunity. Prohibits conferring or denying benefits to foreign missions contrary to such Act. Makes funds in the State Department working capital fund available to pay expenses to carry out provisions relating to foreign missions. Amends the Diplomatic Relations Act to extend the privileges and immunities of the Vienna Convention to missions of nonparties to the Convention. Authorizes the President to extend to such missions treatment that is more favorable or less favorable than that provided under the Vienna Convention. Prohibits using State Department funds to open new U.S. consulates until specified consulates are reopened. Expresses the opposition of Congress to efforts: (1) by UNESCO to regulate news content and the operation of the world press; and (2) by some countries to control access to and dissemination of news. Directs the President to report to Congress on U.S. participation in UNESCO. Title II: International Communication Agency - International Communication Agency Authorization Act, Fiscal Years 1982 and 1983 - Authorizes appropriations for the ICA for fiscal years 1982 and 1983 to carry out certain international communication, educational, cultural, and exchange programs. Amends the United States Information and Educational Exchange Act of 1948 to permit any Federal employee who has special scientific, technical, or professional qualifications to be assigned to a foreign government (presently only U.S. citizens can be so assigned). Authorizes the making of ICA procurement contracts of up to five years, if: (1) appropriations are available and adequate for the first fiscal year and for potential cancellation costs; and (2) the Director of the ICA makes specified determinations. Requires contracts to be cancelled if funds are not available for its continuation. Authorizes the Director of the ICA to purchase security vehicles without regard to any maximum price limitation. Provides for the principal assistant of an ICA Associate Director to perform the duties of the Associate Director who dies, resigns, is sick, or is absent. Excludes employees of certain exhibits of U.S. economic or cultural accomplishments from the provisions of the Defense Base Act for compensation for disability or death. Makes the limitation on obligations or expenditures of appropriations to carry out the United States Information and Educational Exchange Act of 1948 inapplicable with respect to any appropriations for liquidating notes which were assumed in the operation of the informational media guaranty program and were outstanding on a specified date. Requires the ICA films "Reflections: Samuel Eliott Morison" and "And New Miguel" to be made available within the United States. Changes the name of the ICA to the United States Information Agency. Title III: Board for International Broadcasting - Board for International Broadcasting Authorization Act, Fiscal Years 1982 and 1983 - Amends the Board for International Broadcasting Act of 1973 to authorize appropriations for the Board for International Broadcasting for fiscal years 1982 and 1983. Title IV: Miscellaneous Provisions - Amends the Foreign Assistance Act of 1969 to authorize appropriations for the Inter-American Foundation for fiscal years 1982 and 1983. Changes the method of reimbursing the Foundation's Board members for travel expenses. Directs the Secretary of State to report to Congress on: (1) the activities conducted pursuant to certain scientific exchange agreements with the Soviet Union; and (2) the risk of transferring to the Soviet Union militarily significant technology through such activities. Prohibits obligating or expending any State Department or ICA appropriations after a specified date to finance long-term scientific or technological exchanges between the United States and the Soviet Union. Directs the President to report on the cost of assistance for refugees and Cuban and Haitian entrants within the United States or abroad for each of fiscal years 1981 and 1982. Expresses the dismay of Congress over the U.S. vote against the International Code of Marketing of Breastmilk Substitutes. Urges the administration to notify the World Health Organization that the United States will cooperate in implementing the Code. Urges the U.S. infant formula industry to abide by the Code's guidelines. Reaffirms U.S. support for efforts to improve world health.
Bill· HRH.R. 4639 (97th)referred
United States · United States Congress · 30 September 1981
Repeals provisions in the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) increase the credit for royalty owners for 1981 and exempt royalty oil for 1982 and thereafter; (2) reduces the tax imposed on newly discovered oil; and (3) exempts independent producer stripper well oil.
Bill· HRH.R. 4640 (97th)referred
United States · United States Congress · 30 September 1981
Amends the Internal Revenue Code to provide that an employee receiving benefits under an annuity, endowment, or life insurance contract, where part of the consideration for such contract is contributed by the employer, may elect to exclude from gross income an amount equal to the consideration contributed by such employee without regard to whether such consideration is recovered during the first three years of the annuity. Provides that, for purposes of such exclusion, non-deductible owner-employee contributions shall be treated as consideration for the contract contributed by the employee.
Bill· HRH.R. 4621 (97th)referred
United States · United States Congress · 29 September 1981
Amends the Internal Revenue Code to provide a refundable income tax credit equal to 15 percent of the purchase and installation price of a security device placed in a building or residence. Allows a maximum credit of $400. Includes as security devices eligible for such credit locks, fire, smoke, temperature, gas, anti-theft, anti-intrusion, and personal health emergency alarms. Excludes bars, screens and other physical barriers.
Bill· HRH.R. 4618 (97th)referred
United States · United States Congress · 29 September 1981
Amends the Internal Revenue Code to exempt from the 30 percent tax on the income of nonresident alien individuals and foreign corporations any interest received from certain portfolio debt investments. Makes such exemptions inapplicable upon a determination by the Secretary of the Treasury that the exchange of information between the United States and a foreign country is inadequate to prevent income tax evasion. Excludes from the gross estate of a nonresident alien for purposes of the estate tax, any interest eligible for the income tax exemption under this Act.
Bill· SS. 1673 (97th)open
United States · United States Congress · 28 September 1981
Taxpayer Protection and Reimbursement Act - Amends the Internal Revenue Code to permit reasonable court costs, including attorneys' fees, to be awarded to the prevailing party (other than the United States or a creditor of the prevailing party) in any civil action in any court of the United States for the determination, collection, or refund of any tax, interest, or penalty imposed under the Internal Revenue Code. Limits the amount of such award to $25,000 for any one civil action. Includes within the definition of "attorneys' fees" amounts paid to an individual who is not an attorney but who is authorized to practice before the Tax Court. Defines "prevailing party" as a party who: (1) establishes that the position of the United States in the civil action was unreasonable; and (2) substantially prevails with respect to the amount in controversy or the most significant issue or set of issues. Disallows costs for certain civil actions involving declaratory judgments.
Bill· SS. 1671 (97th)open
United States · United States Congress · 28 September 1981
Amends the Internal Revenue Code to lower from 80 to 50 percent the amount of income which a cooperative housing association must earn from tenant-shareholders to qualify as a cooperative housing corporation.
Bill· SS. 1667 (97th)open
United States · United States Congress · 28 September 1981
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act and the Railroad Retirement Act of 1974 to provide that automatic cost-of-living increases in social security and Federal retirement benefits shall be made on October 1 of each year for calendar years after 1981 (currently automatic cost-of-living increases are made on July 1 of each year).
Bill· SS. 1666 (97th)open
United States · United States Congress · 28 September 1981
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act, the Railroad Retirement Act of 1974, the Central Intelligence Agency Retirement Act of 1964 for certain employees, and Federal law governing civil service employees to decrease the automatic cost-of-living adjustments in social security and Federal retirement benefits after December 31, 1981.
Law· HRH.R. 4608 (97th)enacted
United States · United States Congress · 28 September 1981
Continues in effect any authority or limitation provided under the Department of Justice Appropriation Authorization Act, Fiscal Year 1980 until the earlier of: (1) the effective date of a general authorization of appropriations Act for the Department for fiscal year 1982; or (2) April 1, 1982.