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201 records in US in 1982

Records

Resolution· HRESH.Res. 554 (97th)referred

A resolution expressing the sense of the House of Representatives that the managers on the part of the House at the conference on the disagreeing votes of the two Houses on the Senate amendment to the bill H.R. 4961 should not agree to the Senate provision concerning withholding on interest and dividends, and for other purposes.

United States · United States Congress · 5 August 1982

Expresses the sense of the House of Representatives that the managers on the part of the House at the conference on H.R. 4961 should not agree to the Senate provision for the withholding of tax on interest and dividends and should substitute for it a provision requiring greater efforts by the Commissioner of Internal Revenue to secure taxpayer compliance.

Bill· HRH.R. 6929 (97th)open

A bill to amend the Internal Revenue Code of 1954 to extend the targeted jobs credit to December 31, 1983, and to treat as a member of a targeted group for purposes of such credit any economically disadvantaged individual who has attained age 55.

United States · United States Congress · 4 August 1982

Amends the Internal Revenue Code to extend the targeted jobs tax credit from 1982 to 1983. Includes economically disadvantaged individuals who have attained the age of 55 as members of a targeted group for purposes of such credit.

Bill· HRH.R. 6936 (97th)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the designation of income tax payments to the Presidential Election Campaign Fund.

United States · United States Congress · 4 August 1982

Amends the Internal Revenue Code to increase the income tax liability of individuals who designate a contribution to the Presidential Election Campaign Fund by the amount of such designation (one dollar in the case of an individual, two dollars in the case of a joint return where both spouses make such a designation).

Bill· HJRESH.J.Res. 562 (97th)open

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

United States · United States Congress · 3 August 1982

Makes a supplemental appropriation to the Department of Labor, to remain available until December 31, 1982, of a sum equal to five percent of the latest estimated costs of unemployment compensation for the current fiscal year. Makes 85 percent of such funds available to provide productive jobs for qualified unemployed individuals and 25 percent available for youth employment and training programs. Makes an individual assisted with funds under this Act ineligible for unemployment compensation during such employment. Provides that eligible individuals shall be paid at a rate not less than the Federal, State, or local minimum wage or the prevailing rate for similar occupations by the same employee, whichever is higher. Limits the annual wage rate to $10,000. Prohibits the displacement of currently employed workers. Sets forth the method of allocating funds under this Act.

Bill· HRH.R. 6892 (97th)passed

Food and Agriculture Reconciliation Act - Fiscal Year 1983

United States · United States Congress · 29 July 1982

Food and Agriculture Reconciliation Act - Fiscal Year 1983: Title I: Dairy - Subtitle A: Dairy Price-Support Program - Amends the Agricultural Act of 1949, as amended by the Agriculture and Food Act of 1981, to establish a two-tier dairy price support program for FY 1983 through 1985. Sets the price of milk for domestic needs: (1) at $13.10 per hundredweight for FY 1983; and (2) at the percentage of parity for FY 1984 and 1985 which $13.10 represented as of October 1, 1982. Sets the price of milk in excess of domestic needs at the higher support level uniformly reduced to cover the annual costs of acquiring, managing, and disposing of surplus milk. Provides that the funds from such reduction shall be remitted to the Commodity Credit Corporation (CCC) by the first milk handlers, including producers who market their own milk. Limits CCC annual milk purchases to five billion pounds, with producers responsible for costs in excess of such amount. Stipulates that the CCC shall increase its purchases if import quotas are increased. States that the price of milk shall be supported through milk and milk products purchases. Authorizes payments to producers who reduce their production. Establishes a National Dairy Board consisting of the Secretary of Agriculture and 15 presidentially-appointed members. Directs the Board to: (1) determine the relative proportions of milk to which the price support levels will apply and the producer responsibility for dairy product purchases; (2) establish a uniform price support reduction rate for milk in excess of domestic commercial market needs and announce such rate before October 1 of each year; (3) dispose of dairy products acquired by the CCC through authorized price support operations; and (4) remit proceeds from price support operations to the CCC. Sets forth enforcement provisions. Subtitle B: Dairy Promotion Act - Dairy Promotion Act - Authorizes the Secretary, by dairy products promotion order, to establish a National Dairy Promotion Board made up of dairy farmers to promote dairy products. Requires approval of any proposed promotion order by a producer-referendum. Finances such Board through dairy producer assessments. Authorizes appropriations. Authorizes domestic and foreign CCC commodity donations. Title II: Adjustment Program for the 1983 Crops of Wheat, Feed Grains, Upland Cotton, and Rice - Sets 1983 wheat price support levels at not less than $3.80 per bushel. Provides for a 25 percent combined acreage limitation or set-aside and diversion program for such crop. Requires producers to comply with such combined program in order to receive price supports. Bases 1983 through 1985 wheat, feed grain, upland cotton, and rice acreages upon the respective 1982 bases adjusted to reflect established crop-rotation practices and other factors as the Secretary determines. Requires the Secretary to make retirement and conservation payments to 1983 wheat and feed grain crop producers who participate in the acreage limitation or set-aside program. Sets such rates at $3.00 and $1.50 per bushel for wheat and corn respectively. Sets 1983 corn support levels (upon which feed grain levels are based) at not less than $2.71 per bushel. Provides for a 20 percent combined acreage limitation or set-aside and diversion program for such crop if the Secretary determines that the 1982 corn corp will exceed a specified number of bushels. Requires producers to comply with such combined program in order to receive price supports. Requires, if a reduction program is established for 1983 upland cotton, that 25 percent of such program shall be under a paid diversion program with the balance under an acreage limitation program. Requires producers to comply with such combined program in order to receive price supports. Requires the Secretary to make retirement and conservation payments to participating upland cotton producers. Sets the payment rate at 25 cents per pound. Provides for a 25 percent combined acreage limitation (15 percent) and diversion (ten percent) program for the 1983 rice crop if the Secretary determines that the 1982 crop will exceed a specified hundredweight. Requires producers to comply with such combined program in order to receive price supports. Requires the Secretary to make retirement and conservation payments to participating rice producers. Sets such rate at $3.00 per hundredweight. Requires: (1) the Secretary to advance at least 50 percent of any land diversion payments to a participating producer as soon as possible; and (2) a noncomplying producer to repay the advance with interest. Title III: Food Stamp Act Amendments of 1982 - Food Stamp Act Amendments of 1982 - Amends the Food Stamp Act of 1977 to: (1) treat siblings living together who are not elderly, blind, or disabled as one household; and (2) treat persons 60 years or older living with others but unable to purchase and prepare meals because of medical disability as a separate household if the income of the other person does not exceed 165 percent of the nonfarm poverty guideline. Requires the rounding down of dollar amounts for the thrifty food plan in computing deductions of household income, and in calculating the value of allotments. Includes disabled veterans and their survivors as eligible for benefits under the food stamp program. Excludes from household income cost-of-living increases attributable to specified provisions of the Social Security Act, the Railroad Retirement Act of 1974, and pensions for veterans of a period of war. Changes the date for adjusting deductions in computing household income from July 1, 1983, to October 1, 1983. Revises excess shelter deduction provisions to permit State agencies to use a standard utility allowance which does not fluctuate seasonally. Excludes from such use households not incurring or sharing such expenses. Requires monthly averaging of household income received on a regular weekly or biweekly basis. Prohibits any waiver of the requirement that migrant household income be calculated prospectively. Establishes categorical eligibility for recipients of Aid to Families With Dependent Children under the Social Security program. Authorizes State agencies to select certain categories of households which may file periodic reports of household circumstances at less frequent intervals than other types of households. Authorizes the Secretary of Agriculture to require job search information at the time of an individual's application for food stamps. Increases from 60 to 90 days the period of ineligibility for voluntarily quitting a job. Authorizes the Secretary to require State agencies to use an alternative coupon issuance system if such system improves the integrity of the food stamp program. Prohibits the issuance of an initial month allotment under $10. Authorizes household information disclosure to Federal or federally-assisted programs. Requires expedited service to destitute migrant households or households with no income. Authorizes a State agency to promptly reduce or terminate benefits for any household which provides written information that clearly requires a reduction or termination. Requires State agencies to determine, not less frequently than annually, whether food stamp recipients are in receipt of duplicative benefits. Requires State agencies to reimburse the Secretary for the value of excess allotments issued to households. Sets forth a formula for reducing an agency's federally funded share of administrative costs based upon the State's payment error rate. Requires the Secretary to study the impact of benefit reductions and make a final report to the appropriate congressional committees by March 1, 1985. Authorizes ceilinged appropriations for FY 1983 through 1985. Allows the Commonwealth of Puerto Rico to provide food assistance in the form of cash for FY 1982 and 1983. Directs the Secretary to conduct a study of the impact of such assistance and submit a report to the appropriate congressional committees within six months. Requires that, out of one-half of the savings resulting from employment of workfare program people, an increased Federal share of administrative expenses be made available to agencies operating such programs. Makes certain provisions of the Omnibus Budget Reconciliation Act of 1981 and the Agriculture and Food Act of 1981 effective on the date of enactment of this Act.

Bill· HRH.R. 6886 (97th)open

A bill to amend the Internal Revenue Code of 1954 to extend the targeted jobs credit to December 31, 1983, and to treat as a member of a targeted group for purposes of such credit any economically disadvantaged individual who has attained age 55.

United States · United States Congress · 28 July 1982

Amends the Internal Revenue Code to extend the targeted jobs tax credit from 1982 to 1983. Includes economically disadvantaged individuals who have attained the age of 55 as members of a targeted group for purposes of such credit.

Bill· HRH.R. 6862 (97th)passed

A bill to reduce budget authority and outlays under certain civil service programs pursuant to the first concurrent resolution on the budget fiscal year 1983.

United States · United States Congress · 27 July 1982

Requires the monthly installments of civil service annuities to be rounded to the next lowest dollar (currently, fixed at the nearest dollar) at commencement and after each cost of living adjustment. Changes the commencement date for annuities for employees or Members of Congress, other than those who are involuntarily separated from the service (except by removal for misconduct or delinquency) or who retire on disability, to the first day of the month after (currently, the day after): (1) separation from the service; or (2) pay ceases and age and service requirements are met. Increases the rates of pay under Federal statutory pay systems by four percent for FY 1983, if: (1) before September 1, 1982, the President transmits to Congress an alternative plan providing for an increase of less than four percent; and (2) Congress disapproves such plan.

Bill· HRH.R. 6876 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to exempt from taxation difficulty of care payments made to a taxpayer for the care of a handicapped foster child.

United States · United States Congress · 27 July 1982

Amends the Internal Revenue Code to exclude from gross income difficulty of care payments made to a taxpayer for care of a handicapped foster child. Waives the statute of limitations for refunds or credits for overpayments of tax resulting from such exclusion.

Bill· HJRESH.J.Res. 546 (97th)referred

A joint resolution proposing an amendment to the Constitution altering Federal fiscal decisionmaking procedures.

United States · United States Congress · 23 July 1982

Constitutional Amendment - Requires Congress, before each fiscal year, to adopt a statement for that year in which total outlays are no greater than total receipts. Permits Congress to provide for a specific excess of outlays over receipts by a three-fifths vote. Permits Congress to suspend the provisions of this Act in any fiscal year in which a declaration of war or national emergency is in effect. States that outlays for social insurance and national defense shall take priority and grants to governmental entities with taxing power shall be reduced before other outlays.

Bill· HJRESH.J.Res. 547 (97th)referred

A joint resolution proposing an amendment to the Constitution of the United States which prohibits the Congress from making any law which causes the total amount of money expended by the United States in any fiscal year to exceed the total amount of revenue of the United States received during that fiscal year.

United States · United States Congress · 23 July 1982

Constitutional Amendment - Prohibits Congress from making any law which causes the total amount of money expended by the United States in any fiscal year from exceeding the total amount of revenue of the United States received during such fiscal year. Provides for a suspension of such prohibition during a time of war or of national emergency declared by the Congress. Makes this article effective for the second fiscal year beginning after its ratification.

Bill· HRH.R. 6849 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to supplement Federal funds for higher education by providing a procedure under which individuals may contribute with their income tax returns up to $10 of any refund for purposes of providing funds for Federal student financial assistance programs.

United States · United States Congress · 22 July 1982

Amends the Internal Revenue Code to allow individuals to contribute up to ten dollars of any income tax refund to Federal student financial assistance programs. Identifies such programs as any student financial assistance programs established under title IV of the Higher Education Act of 1965.

Bill· HRH.R. 6848 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the windfall profit tax shall not apply to an amount of crude oil equal to the amount of residual fuel oil used in tertiary recovery processes.

United States · United States Congress · 22 July 1982

Amends the Internal Revenue Code to exempt from the windfall profit tax an amount of crude oil equal to the amount of residual fuel oil used in the production of otherwise taxable crude oil. Defines "residual fuel oil." Disallows a depletion deduction for such exempt production oil.

Bill· SS. 2766 (97th)open

A bill to amend the Internal Revenue Code of 1954 to provide for an energy tax credit for property used in producing methane-containing gas for fuel or electricity produced by anaerobic digestion from nonfossil waste materials.

United States · United States Congress · 21 July 1982

Amends the Internal Revenue Code to provide an investment tax credit for energy property used in producing methane-containing gas for fuel or electricity by anaerobic digestion from nonfossil waste materials.

Bill· SS. 2762 (97th)open

A bill to amend Section 46(d) of the Internal Revenue Code to clarify treatment of expenditures prior to commencement of physical work.

United States · United States Congress · 21 July 1982

Amends the Internal Revenue Code to allow expenditures made prior to the commencement of physical work to be taken into account for purposes of the investment tax credit if: (1) the property qualifies as progress expenditure property; and (2) such expenditures are includible in the basis of such property.

Bill· HRH.R. 6826 (97th)referred

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

United States · United States Congress · 21 July 1982

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

Bill· HRH.R. 6801 (97th)open

A bill to amend the Internal Revenue Code of 1954 with respect to the targeted jobs credit.

United States · United States Congress · 20 July 1982

Amends the Internal Revenue Code to increase from $6,000 to $10,000 the amount of wages taken into account for purposes of the targeted jobs tax credit. Repeals the termination date for such credit. Reduces the age limit for the targeted group of economically disadvantaged youth from 18 to 16. Limits such age reduction to only those youths engaged in summer employment. Limits the targeted group of involuntarily terminated CETA employees to those terminated within three years of the hiring date.

Bill· HRH.R. 6803 (97th)referred

A bill to define the circumstances under which construction workers may deduct travel and transportation expenses in computing their taxable incomes for purposes of the Federal income tax.

United States · United States Congress · 20 July 1982

Amends the Internal Revenue Code with respect to deductions for ordinary and necessary business expenses to provide a special rule for construction workers' travel and transportation expenses. Provides that a job at a site located more than 30 miles from a worker's residence: (1) shall be deemed to be temporary for the first two years of employment at that site; and (2) shall be deemed to be temporary or not temporary after the first two years based on an examination of all the facts and circumstances. Provides that no deduction shall be disallowed solely because a construction worker's employment at a job site is of indefinite duration. Prohibits the application of the "one-year" rule as set forth in Revenue Ruling 59-371. Defines "construction worker," for purposes of this Act, as any individual employed as a skilled, semiskilled, or unskilled laborer in the building or construction industry.

Bill· HRH.R. 6785 (97th)open

A bill to reduce budget authority and outlays under certain civil service programs pursuant to the First Concurrent Resolution on the Budget--Fiscal year 1983.

United States · United States Congress · 19 July 1982

Requires the monthly installments of civil service annuities to be rounded to the next lowest dollar (currently, fixed at the nearest dollar) at commencement and after each cost of living adjustment. Changes the commencement date for annuities for employees or Members of Congress, other than those who are involuntarily separated from the service (except by removal for misconduct or delinquency) or who retire on disability, to the first day of the month after (currently, the day after): (1) separation from the service; or (2) pay ceases and age and service requirements are met. Requires the rates of pay under Federal statutory pay systems to be increased by not less than four percent for FY 1983.

Bill· HRH.R. 6784 (97th)referred

A bill to allow a credit against Federal income taxes or a payment from the United States Treasury for State and local real property taxes or an equivalent portion of rent paid on their residences by individuals who have attained age 65.

United States · United States Congress · 19 July 1982

Amends the Internal Revenue Code to allow individuals age 65 or over an income tax credit for the State and local real property taxes, or the amount of rent constituting such taxes, paid on their principal residences. Provides for a payment from the Treasury in the case of individuals whose tax liability is less than such real property taxes. Limits such credit or payment to $300 ($150 for married individuals filing separately). Reduces the allowable credit by the amount that the taxpayer's adjusted gross income exceeds $8,000 ($4,000 for married individuals filing separately). Extends such credit to married individuals filing jointly where either spouse has attained age 65. Provides that such credit shall not affect the taxpayer's allowable income tax deductions for real property taxes.

Bill· HRH.R. 6790 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for the cost of medically necessary custodial care provided to elderly individuals.

United States · United States Congress · 19 July 1982

Amends the Internal Revenue Code to allow a tax deduction for a certain amount of the cost of medically necessary custodial care provided to an elderly individual. Limits the amount of such deduction to $15,000 ($30,000 for joint returns), with annual cost-of-living adjustments.

Bill· SS. 2746 (97th)open

Economic Recovery Tax Reform Act of 1982

United States · United States Congress · 16 July 1982

Economic Recovery Tax Reform Act of 1982 - Amends the Internal Revenue Code to revise the individual income tax rate tables to limit the tax reductions for 1983 and 1984 contained in the Economic Recovery Tax Act of 1981. Revises the method of computing the personal holding company tax. Delays the ten percent reduction in the withholding rate until July 1, 1984. Delays for one year the indexation (cost of living adjustments) of individual income tax rates. Repeals special rules which allow sale and leaseback arrangements of depreciable property between corporations. Increases to $10,000 the dollar limitation on the amount of depreciable business assets which may be deducted as an expense in a current taxable year, effective in 1983. Repeals provisions of the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) exempt royalty oil; (2) reduce the tax on newly discovered oil; and (3) exempt independent producer stripper well oil. Repeals provisions which specify that the income tax credit for the production of natural gas from nonconventional sources shall apply to natural gas sold during the taxable year only if such gas is sold at a lawful price which is determined without regard to ceiling prices under the Natural Gas Policy Act of 1978. Repeals the option to expense intangible drilling and development costs in the case of oil and gas wells. Repeals the percentage depletion allowance for such wells.

Bill· SS. 2738 (97th)open

Math and Science Education Act

United States · United States Congress · 15 July 1982

Math and Science Education Act - Amends the Internal Revenue Code to allow employers an income tax credit for compensation paid to: (1) precollege mathematics and science teachers hired for the summer months for employment which provides experience in the applied use of high technology; and (2) permanent employees who teach precollege mathematics or science at a public school without compensation from such school. Sets the amount of such credit at the sum of: (1) 50 percent of the aggregate compensation paid to teachers employed for the summer months; plus (2) 100 percent of the aggregate compensation paid to permanent employees who teach at public schools. Limits the amount of compensation paid to a permanent employee which may be taken into account to $1,000 multiplied by the number of months such employee teaches in a public school. Requires that teachers hired for the summer months must be paid at a weekly rate equal to or greater than the weekly rate of the teaching salary of such teacher. Requires that permanent employees who teach at public schools must teach at an elementary or secondary school for at least ten hours per week (at least five hours of which must be actual instruction in the classroom) at the request of the school district administrators.

Bill· HRH.R. 6777 (97th)open

Small Issue Industrial Development Bond Reform Act of 1982

United States · United States Congress · 15 July 1982

Small Issue Industrial Development Bond Reform Act of 1982 - Amends the Internal Revenue Code to disqualify industrial development bonds (IDBs) from the small issue tax exemption if more than ten percent of the proceeds of such bonds are used to finance certain office buildings, retail facilities, or entertainment or recreation facilities. Requires bond-issuing authorities to conduct public hearings prior to the approval and issuance of any small issue industrial development bond. Requires a State to report to the Secretary of the Treasury annually beginning in 1984 on bonds issued during the preceding year. Increases to $15,000,000 the amount of industrial development bonds used for economically distressed areas which qualify as tax-exempt small issues. Permits the financing of office buildings and retail facilities in such areas. Specifies requirements relating to poverty for designation as a qualified distressed area. Provides that capital research and experimental expenditures shall not be taken into account for purposes of determining the aggregate face value of industrial development bonds which otherwise qualify for the small issue exemption. Suspends temporary Internal Revenue Service regulations which prohibit pooled issues of bonds for projects located in only one State with respect to bonds sold after August 23, 1981. Sets forth transitional rules.

Bill· HRH.R. 6772 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to allow an individual's spouse to receive the usual fee for service as a juror without losing eligibility for certain retirement savings provisions relating to non-working spouses.

United States · United States Congress · 15 July 1982

Amends the Internal Revenue Code to exclude from the definition of "compensation" jury service fees received by a spouse, for purposes of the retirement savings deduction for individuals with nonworking spouses.

Bill· HRH.R. 6774 (97th)referred

Math and Science Education Act

United States · United States Congress · 15 July 1982

Math and Science Education Act - Amends the Internal Revenue Code to allow employers an income tax credit for compensation paid to: (1) precollege mathematics and science teachers hired for the summer months for employment which provides experience in the applied use of high technology; and (2) permanent employees who teach precollege mathematics or science at a public school without compensation from such school. Sets the amount of such credit at the sum of: (1) 50 percent of the aggregate compensation paid to teachers employed for the summer months; plus (2) 100 percent of the aggregate compensation paid to permanent employees who teach at public schools. Limits the amount of compensation paid to a permanent employee which may be taken into account to $1,000 multiplied by the number of months such employee teaches in a public school. Requires that teachers hired for the summer months must be paid at a weekly rate equal to or greater than the weekly rate of the teaching salary of such teacher. Requires that permanent employees who teach at public schools must teach at an elementary or secondary school for at least ten hours per week (at least five of which must be actual instruction in the classroom) at the request of the school district administrators.

Resolution· HRESH.Res. 525 (97th)passed

A resolution providing for the consideration of the bill (H.R. 6030) to authorize appropriations for fiscal year 1983 for the Armed Forces for procurement, for research, development, test, and evaluation, and for operation and maintenance, to prescribe personnel strengths for such fiscal year for the Armed Forces and for civilian employees of the Department of Defense, to authorize appropriations for such fiscal year for civil defense, and for other purposes.

United States · United States Congress · 15 July 1982

Sets forth the rule for the consideration of H.R. 6030 (Armed Forces funding).

Bill· HRH.R. 6765 (97th)referred

Credit for Older Workers Act

United States · United States Congress · 14 July 1982

Credit for Older Workers Act - Amends the Internal Revenue Code to provide a refundable tax credit for social security taxes paid by an individual who has attained age 62 but not age 68. Defines "social security taxes" as those taxes imposed: (1) on wages of employees under the Federal Insurance Contributions Act; and (2) on self-employment income under the Self-Employment Contributions Act.

Bill· HRH.R. 6740 (97th)open

A bill to amend the Internal Revenue Code of 1954 to clarify certain requirements which apply to mortgage subsidy bonds.

United States · United States Congress · 13 July 1982

Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements for tax-exempt bonds to increase the amount by which interest rates on such bonds may exceed the interest rates on mortgages financed with such bonds. Increases the amount by which the acquisition cost of bond-financed residences may exceed the average area purchase price of other homes in the same statistical area. Specifies that issuers are not required to dispose of any investment and realize a loss in order to satisfy arbitrage restrictions. 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. Repeals the registration requirements for bond issues. Revises requirements for residential rental property bond issues relating to the median income level of occupants and the term of the low-income occupancy. Allows the exclusion of interest on industrial development bonds used to finance cooperative housing corporations if the cooperative is affordable by lower income families and other conditions are met.

Bill· HRH.R. 6741 (97th)referred

Flat Tax Act of 1982

United States · United States Congress · 13 July 1982

Flat Tax Act of 1982 - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of 14 percent for all individuals, estates, and trusts. Repeals all special tax deductions, credits, and exclusions from income for individuals. Amends the Economic Recovery Tax Act of 1981 to increase to $2,000 the deduction for personal exemptions.

Bill· HRH.R. 6735 (97th)referred

Business Energy Tax Credit Act of 1982

United States · United States Congress · 13 July 1982

Business Energy Tax Credit Act of 1982 - Amends the Internal Revenue Code to extend from 1985 to 1990 the investment tax credit for solar, wind, geothermal, and ocean thermal property.

Bill· HRH.R. 6736 (97th)referred

Business Energy Tax Credit Act of 1982

United States · United States Congress · 13 July 1982

Business Energy Tax Credit Act of 1982 - Amends the Internal Revenue Code to extend from 1985 to 1990 the investment tax credit for solar, wind, geothermal, and ocean thermal property.

Bill· SS. 2708 (97th)open

Export Sales Corporation Act of 1982

United States · United States Congress · 1 July 1982

Export Sales Corporation Act of 1982 - Amends the Internal Revenue Code to set forth rules for the tax treatment of export sales corporations. Defines "export sales corporation" for purposes of this Act. Requires the Secretary of the Treasury to prescribe regulations for treatment as an export sales corporation. Sets forth procedures for the election by a corporation to be treated as an export sales corporation and for the termination of such an election. Provides that personal holding companies and domestic international sales corporations are ineligible for such election. Requires that the income resulting from a sale to an export sales corporation of export property shall be based on an arms-length transfer price. Limits the amounts of such taxable income. Directs the Secretary to set forth special rules for commissions, rentals, and marginal costing. Sets forth rules for the taxation of export sales corporation income to shareholders. Provides that dividends from certain foreign corporation and export sales corporations shall be deemed to be dividends from a domestic corporation subject to taxation as such. Limits the tax deduction for dividends received from export sales corporations. Disallows a deduction for foreign taxes paid by an export sales corporation. Allows small business corporations to own stock in export sales corporations. Allows shareholders a tax credit for export sales corporation management expenses. Limits the amount of such credit to $5,000. Disallows a deduction for such expenses. Directs the Secretary to prescribe regulations for the allocation of certain distributions of exports sales corporations to shareholders. Requires the Secretaries of Treasury and Commerce to establish a program to provide public information about the benefits of the export sales corporation election. Sets forth rules for the transfer to an export sales corporation of the assets of a domestic international sales corporation.

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