Records whose title is actually about this topic. Use a country filter if the list is still too broad.
Records
Bill· HRH.R. 3860 (98th)open
United States · United States Congress · 12 September 1983
Amends the Internal Revenue Code to repeal the requirement that certain hospital support and administrative services must be furnished solely to hospitals which have facilities to serve not more than 100 inpatients in order for such services not to be treated as an unrelated trade or business.
Bill· SS. 2981 (98th)open
United States · United States Congress · 10 September 1983
Amends the Internal Revenue Code to establish in the Treasury a Deficit Reduction Trust Fund. Appropriates to such trust fund any revenues received from any tax imposed after September 10, 1984. Sets forth requirements for the expenditure of funds from such trust fund.
Bill· SS. 1809 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to provide that an otherwise qualifying regulated investment company shall not be treated as a personal holding company if: (1) during the second half of the company's taxable year it had at least 100 actual shareholders; and (2) it does not meet the personal holding company stock ownership test applied without attribution of stock ownership to or from a limited partner.
Bill· SS. 1768 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to provide an energy investment tax credit for certain equipment which reduces fuel consumption and is used aboard or installed on a fishing vessel.
Bill· SS. 1807 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to exclude from foreign personal holding company income, dividends received from controlled foreign corporations which derive a specified percentage of their gross income from the purchase or sale of agricultural commodities which were not grown in the United States in commercially marketable quantities.
Bill· SS. 1826 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow an income tax deduction for inventory and other property contributed to Federal, State or Local Governments for the care of the ill, the needy or infants. Allows individuals and other noncorporate taxpayers an income tax deduction for the contribution of food if the taxpayer is actively engaged in the trade or business of the production or marketing of food. Extends the deduction for food to include food which a qualifying organization removes from the fields of the taxpayer. Permits the donee-organization to charge a fee to the ultimate recipient of the donated food under certain conditions without jeopardizing the donor's charitable contribution deduction. Allows an income tax deduction for contributions of transportation services to move food. Limits the amount of the income tax deduction for contributions to 50 percent of the gross receipts the taxpayer would have realized from the sale of the food in the ordinary course of business where the taxpayer does not use the inventory method of accounting in computing taxable income. Limits the amount deductible for contributions of transportation services.
Bill· SS. 1814 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow an amortization deduction, based on a period of 60 months, for bus operating authorities held by the taxpayer on November 19, 1982, or acquired under a binding contract in effect on that date.
Bill· SS. 1815 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to grant tax-exempt status to corporations which acquire and manage real property for certain other tax-exempt organizations. Exempts such corporations from the application of the acquisition indebtedness rules applicable to the unrelated business income of tax-exempt organizations.
Bill· SS. 1825 (98th)open
United States · United States Congress · 4 August 1983
Estimated Tax Simplification Act of 1983 - Amends the Internal Revenue Code to revise provisions dealing with the quarterly payment of estimated tax by individuals. Establishes the amount of the penalty for underpayment of estimated tax at the amount of the underpayment for the period of underpayment, plus interest on such amount. Revises the schedule for the payment of estimated tax installments. Specifies that the amount of the required annual estimated tax payment shall be the lesser of 80 percent of the current tax shown on the taxpayer's return or 100 percent of the preceding year's tax liability. Permits lower estimated tax payments if the taxpayer can show that the installment payments made over the year were adequate for each quarter based on an annualized income concept. Exempts a taxpayer from an estimated tax penalty: (1) where the tax liability is less than $500; (2) where there is no tax liability for the preceding taxable year; or (3) where there is reasonable cause for the underpayment. Exempts a taxpayer from a penalty for underpayment of estimated tax for the fourth quarter if such taxpayer files on or before January 31 of the following taxable year a return and pays any tax liability in full (March 1 for farmers and fishermen). Permits farmers and fishermen to make only one annual estimated tax payment on January 15 of each year. Lowers the percentage of the required estimated tax payment for such farmers and fishermen to 66-2/3 percent of the tax shown on their returns. Requires the Secretary of the Treasury to prescribe regulations to carry out the provisions of this title. Repeals provisions of the Internal Revenue Code dealing with the declaration of estimated tax by individuals, the time for filing declarations of estimated tax, and installment payments of estimated income tax by individuals. Allows an income tax deduction for the amount of the penalty paid for the underpayment of estimated tax.
Bill· SS. 1817 (98th)open
United States · United States Congress · 4 August 1983
Fringe Benefits Tax Act of 1983 - Amends the Internal Revenue Code to exclude from gross income any fringe benefit which qualifies as a: (1) no-additional-cost service or discount property; (2) working condition fringe; or (3) de minimis fringe. Provides definitions and sets forth special rules for such tax exclusion. Excludes from gross income reductions in tuition provided by an employer to employees, their spouses and dependent children. Excludes from gross income the value of lodging furnished by certain educational institutions to employees, their spouses and dependent children.
Bill· SS. 1801 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow employers an income tax credit for 25 percent of the amount employers increase employee training expenses over a specified base period.
Bill· SS. 1793 (98th)open
United States · United States Congress · 4 August 1983
Tax Straddle Reform Act of 1983 - Amends the Internal Revenue Code to treat as a foreign investment company a foreign corporation which engages primarily in trading in securities, commodities or interests in commodities, and which is directly or indirectly at least 50 percent owned by United States persons. Provides that, if more than ten percent of a foreign- based corporation's earnings and profits are derived from U.S. sources or effectively are connected to a U.S. trade or business, any dividends distributed directly from such a corporation to a U.S. owned foreign corporation shall be treated as derived from sources within the United States. Includes offsetting position stock as property subject to tax straddle rules. Defines "offsetting position stock" as stock of a corporation formed or availed of to take positions in personal property which offset positions taken by the shareholders.
Bill· SS. 1781 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow an amortization deduction, based on a period of 60 months, for bus operating authorities held by the taxpayer on November 19, 1982, or acquired under a binding contract in effect on that date.
Bill· SS. 1791 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to permit the New York Power Authority to make sales of electric power through private utilities without being denied the authority to issue tax-exempt bonds.
Bill· SS. 1824 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to waive the estate tax limitation on tax-free rollovers of pension accumulations into individual retirement accounts and tax-sheltered annuities for individuals who made an election to rollover such accumulations prior to January 1, 1983.
Bill· SS. 1767 (98th)open
United States · United States Congress · 4 August 1983
Personal Income Tax Reform Act of 1983 - Title I: Reduction of Income Tax Rates - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of 12 percent for all individuals, estates, and trusts. Imposes a surtax (ranging from eight to 24 percent) on the adjusted gross income of single taxpayers earning over $25,000 and married taxpayers earning over $40,000. Reduces the personal holding company tax from 50 to 36 percent. Repeals the 1985 indexation of tax rates. Redefines "adjusted gross income" to repeal the deductions for: (1) long-term capital gains; (2) amortization of reforestation expenses; and (3) two-earner married couples. Provides that certain special deductions for estate and trusts shall be subtracted from adjusted gross income. Increases the amount of the personal exemption to $1500 for single taxpayers and $1750 for heads of households. Allows an additional $1000 exemption for the dependent spouse of a taxpayer filing a joint return. Increases the zero bracket amount from $3400 to $4600 for taxpayers filing joint returns and surviving spouses. Repeals the direct charitable contribution deduction. Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to revise tax return filing requirements to reflect the increased personal exemption, in the case of 65-year-old taxpayers and taxpayers filing joint returns. Revises requirements for withholding allowances to correspond with the increased personal exemption. Repeals the minimum tax on individual taxpayers. Repeals provisions which allow income averaging. Title II: Broadening of the Income Tax Base - Repeals the tax credits for: (1) the elderly; (2) political contributions; and (3) residential energy conservation. Limits the availability of the following tax credits to certain corporations: (1) the investment tax credit; (2) the new employee credit; (3) the credit for producing fuel from a nonconventional source; (4) the alcohol fuel credit; and (5) the credit for increasing research activities. Repeals the exclusion from gross income of employer-provided premiums on group-term life insurance and the exclusion of unemployment compensation benefits. Requires the inclusion in gross income of interest income on life insurance, annuity or endowment contracts. Repeals the following tax exclusions: (1) dividends received by individuals; (2) employer-provided group legal services; (3) employer-provided transportation expenses; (4) employer-provided educational assistance; and (5) interest received after 1984. Repeals the tax exclusion of: (1) employer-provided child care assistance; (2) earned income of U.S. citizens living abroad; (3) dividend reinvestment in public utility stock; and (4) interest on industrial development bonds and veterans' mortgage bonds received by individual taxpayers. Requires the inclusion in gross income of one-third of employer contributions to medical care plans (other than workmen's compensation). Modifies the exclusion of scholarship and fellowship grants to require that an eligible recipient be a degree candidate at a tax-exempt educational institution. Disallows the exclusion of payments for teaching, research, or other services unless all degree candidates are required to perform such services. Repeals the tax deductions for: (1) two-earner married couples; (2) adoption expenses; and (3) long-term capital gains. Provides that no distinction shall be made between short-term and long-term capital gains in the case of individual taxpayers. Disallows the tax deductions to individual taxpayers for: (1) amortization of pollution control facilities; (2) amortization of reforestation expenditures; (3) intangible drilling and development costs for oil, gas, and geothermal wells; (4) percentage depletion; (5) mineral development and mine exploration expenses; and (6) certain State and local taxes. Repeals the tax deduction for the casualty and theft losses of individuals. Limits the deduction for interest on investment indebtedness for individual taxpayers to the amount of investment income. Provides that such limitation shall not apply to trade or business indebtedness and indebtedness incurred in acquiring or rehabilitating a qualified dwelling or principal residence of the taxpayer. Modifies the accelerated cost recovery schedules to provide that increased percentages for property placed in service after 1984 and after 1985 shall only be available to certain corporations. Reduces the depreciation deduction for 15-year real property in the case of individual taxpayers. Repeals the business expense deduction for business meals. Repeals the tax credit for household and dependent care services necessary for gainful employment and replaces such credit with a tax deduction for employment-related expenses. Limits such deduction to $2,400 for taxpayers with one dependent and $4,800 for taxpayers with two or more dependents. Revises requirements for the deduction for $125,000 of gain from the sale of a principal residence by an individual over age 55. Revises the definition of "Section 11 corporation". Title III: Taxation of Individual Retirement Accounts and Qualified Pension, Profit-Sharing, and Stock Bonus Plans - Imposes a 12 percent tax on the investment income of retirement trusts, including pensions, individual retirement accounts, and other retirement plans. Repeals the tax-exempt status of certain pension, profit-sharing, stock bonus plans, and individual retirement accounts. Repeals the tax on lump-sum distributions from qualified pension plans. Title IV: Conforming Amendments; Effective Dates - Directs the Secretary of the Treasury to submit a legislative proposal for implementing this Act to Congress. Sets forth effective dates for the provisions of this Act.
Bill· SS. 1800 (98th)open
United States · United States Congress · 4 August 1983
Training Act of 1983 - Amends the Internal Revenue Code to allow employers and individual taxpayers an income tax deduction for contributions to training accounts established to provide employment training. Limits the amount of such deduction to $1,000 for a taxable year. Imposes a $6,000 ceiling on the total amount of contributions to an individual or employer training account. Excludes from gross income any amounts paid from a training account if such amounts are used to obtain training or cover relocation or job-search expenses. Exempts an individual or employer training account from taxation. Imposes a ten percent penalty on any amounts distributed from a training account which are not used for job training. Sets forth rules for the disposition of training account funds upon the death, retirement or separation of an employee. Requires the trustee of a training account to make reports on the maintenance of such account. Imposes a penalty for failure to file required reports. Requires the Secretary of Labor to certify any training activities funded by distributions from a training account.
Bill· SS. 1810 (98th)referred
United States · United States Congress · 4 August 1983
Authorizes appropriations to the Department of Energy for FY 1984 and 1985 for the exploration and development of specified naval petroleum reserves.
Resolution· SRESS.Res. 205 (98th)open
United States · United States Congress · 4 August 1983
Expresses the sense of the Senate that the Internal Revenue Code should be amended to establish a flat-rate individual income tax based on the following principles: (1) the tax system should be simple, understandable, and evenhanded; (2) no income should be taxed more than once; (3) all income should be subject to the same rate, which should be as low as possible; (4) the tax base should be as broad as possible, with very few credits, deductions, or exclusions; (5) personal tax exemptions should be large enough to exempt the poorest households from tax liability; and (6) the amount of overall tax revenue should be no greater than under the current tax system.
Bill· HRH.R. 3820 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to permit individual retirement accounts, qualified pension funds and certain educational organizations to invest in working interests in oil and gas wells without incurring unrelated business taxable income.
Bill· HRH.R. 3808 (98th)open
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow an investment tax credit for rehabilitated buildings if: (1) 50 percent or more of the existing external walls are retained in place as external walls; (2) 75 percent or more of the existing external walls are retained in place (but not necessarily as external walls); and (3) 95 percent of the existing internal structural framework is retained in place. (Present law requires that 75 percent or more of the external walls must be retained in the rehabilitation process.)
Bill· HRH.R. 3805 (98th)reported
United States · United States Congress · 4 August 1983
Technical Corrections Act of 1983 - Title I: Amendments Related to Tax Equity and Fiscal Responsibility Act of 1982 - Amends the Internal Revenue Code to make technical corrections to provisions relating to individual taxpayers. Revises the definition of regular tax. Limits the special election for intangible drilling and development costs to wells located in the United States. Makes technical corrections to provisions primarily relating to businesses. Limits the investment tax credit allowed for mineral exploration and development costs to deposits located in the United States. Revises rules relating to corporate preference items relating to capital gains and cost depletion. Revises the definition of interest on debt to carry tax-exempt obligations acquired after December 31, 1982. Requires the adjustment in the bases of an interest in a partnership or a subchapter S corporation to take into account the amount of any investment tax credit taken. Includes real property held by a cooperative housing corporation and used for dwelling purposes as property not eligible for the real property construction period income tax deduction. Sets forth rules for pass through entities in the case of corporate distributions. Redefines "purchase" for purposes of certain stock purchases which are treated as asset acquisitions. Provides that rules relating to the recognition of gain or loss on sales or exchanges in connection with certain liquidations shall apply where a target corporation has adopted a plan for complete liquidation. Authorizes the Secretary of the Treasury to disallow deductions, credits, or other allowances in the case of certain liquidations after qualified stock purchases if the principal purpose of such liquidation is the evasion or avoidance of income tax. Sets forth rules for determining the bases of assets of a target corporation involved in a corporate acquisition. Sets forth rules for determining the amount constituting dividends in the case of redemptions through the use of related corporations. Provides that any assumption of a liability shall not be treated as a distribution of property in the case of distributions incident to the formation of bank holding companies. Makes technical corrections to certain pension provisions. Revises rules relating to actuarial adjustments for retirment income benefits. Revises rules relating to the treatment of loans to participants from qualified pension plans. Increases the amount of the deduction for simplified employee pensions. Revises rules relating to the treatment of self-employed individuals for exclusion of employee's death benefits. Revises the treatment of simplified employee pensions. Revises the definitions of "key employee" and "top heavy plan" for purposes of required distributions before death. Permits distributions to be made to a beneficiary of a participant if the beneficiary is a dependent who is under age 22 or is permanently and totally disabled. Delays the effective date for special rules related to government plans. Delays the effective date for provisions related to inherited individual retirement plans. Allows the award of court costs and attorney's fees for cases in the United States Claims Court. Sets forth penalties for failure to give notice to recipients of certain pension distributions. Title II: Technical Corrections of Subchapter S Revision Act of 1982; Etc. - Provides for the nonrecognition of gain or loss on the complete liquidation of a subchapter S corporation or on the distribution of certain stock in a reorganization. Allows an election to not have new passive income rules apply during 1982. Treats a subchapter S corporation as a partnership for purposes of constructive ownership of stock. Sets forth rules for elections for certain short taxable years. Title III: Amendments Relating to Highway Revenue Act of 1982 - Provides that the value of used components shall not be taken into account in determining price for purposes of the retail sales tax on heavy trucks and trailers. Provides that the excise tax on gasoline shall apply to gasohol. Provides for floor stocks refunds for tires taxed at lower rate after January 1, 1984. Sets forth rules relating to the overpayments of tax on trucks and tires. Exempts from the retail tax on heavy trucks: (1) camper coaches bodies for self-propelled mobile homes; (2) feed, seed, and fertilizer equipment; (3) ambulances and hearses; (4) concrete mixers; (5) house trailers; (6) trash containers; and (7) rail trailers and rail vans. Exempts from the excise tax on tires any tires with internal wire fastening and tires used on intercity, local, and school buses. Title IV: Amendments to Other Laws - Subtitle A: Changes in OASDI Provisions - Makes certain technical amendments to title II of the Social Security Act (OASDI). Provides that any cost-of-living increase shall be rounded down to the next lower multiple of 10 cents. Subtitle B: Changes in Medicare Related Provisions - Makes certain technical corrections to the Medicare provisions of the Social Security Amendments of 1983. Revises rules for the application and implementation of the Medicare prospective payment system. Revises rules concerning enrollment and premium penalties with respect to the working aged.
Bill· HRH.R. 3790 (98th)referred
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to provide that for calendar years 1985 through 1990 the cost-of-living adjustment for the individual income tax rates and the personal tax exemption shall take into account only inflation in excess of two percent per year. Provides a similar limitation on cost-of-living adjustments to benefits for the following programs for FY 1985 through 1990: (1) old age, survivors and disability benefits; (2) armed service retirement and retainer pay; (3) retired pay and retainer pay of members and former members of the Coast Guard; (4) retired pay of commissioned officers of the National Oceanic and Atmospheric Administration or the Public Health Service; (5) civil service retirement benefits; (6) foreign service retirement benefits; (7) Central Intelligence Agency retirement benefits; (8) Federal workers' compensation; and (9) benefits under the Railroad Retirement Act of 1974.
Bill· HRH.R. 3800 (98th)referred
United States · United States Congress · 4 August 1983
Repeals the provisions of the Economic Recovery Tax Act of 1981 which allow a cost-of-living adjustment to the individual income tax rates and the personal tax exemption. Provides that no cost-of-living adjustment shall take effect after September 30, 1984, with respect to: (1) old age, survivors and disability benefits; (2) armed service retirement and retainer pay; (3) retired pay and retainer pay of members and former members of the Coast Guard; (4) retired pay of commissioned officers of the National Oceanic and Atmospheric Administration or the Public Health Service; (5) civil service retirement benefits; (6) foreign service retirement benefits; (7) Central Intelligence Agency retirement benefits; (8) Federal workers' compensation; and (9) benefits under the Railroad Retirement Act of 1974.
Bill· HRH.R. 3826 (98th)referred
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to provide that charitable organizations which incur a fee as a result of transfer of property from another organization may recoup the amount of such fee from the persons to whom they distribute the property without jeopardizing the charitable contribution deduction of any donor.
Bill· HRH.R. 3797 (98th)referred
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to allow a refundable income tax credit for expenses incurred in the care of elderly family members. Sets such credit at 30 percent of the expenses incurred for taxpayers with incomes of $25,000 or less. Reduces the rate of such credit, but not below 20 percent, by one percent for each $2,000 of taxpayer income in excess of $25,000. Limits such credit to taxpayers with an adjusted gross income of less than $75,000. Imposes a maximum $7,000 limit on the amount of elderly care expenses that can be taken into account. Defines "qualified family member" as any individual who: (1) is related to the taxpayer by blood or marriage; (2) is at least 70 years of age (or diagnosed with senile dementia); and (3) has a family income of $15,000 or less. Defines "qualified elderly care expenses" as payments for: (1) home health agency services; (2) homemaker services; (3) adult day care; (4) respite care; or (5) certain health care equipment and supplies.
Bill· HRH.R. 3814 (98th)referred
United States · United States Congress · 4 August 1983
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. 3789 (98th)referred
United States · United States Congress · 4 August 1983
Fringe Benefits Tax Act of 1983 - Amends the Internal Revenue Code to exclude from gross income any fringe benefit which qualifies as a: (1) no-additional-cost service or discount property; (2) working condition fringe; or (3) de minimis fringe. Provides definitions and sets forth special rules for such tax exclusion. Excludes from gross income reductions in tuition provided by an employer to employees, their spouses and dependent children. Excludes from gross income the value of lodging furnished by certain educational institutions to employees, their spouses and dependent children.
Bill· HRH.R. 3803 (98th)referred
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to provide for the reporting of tips by large food or beverage establishments in lieu of allocation requirements if reported tips do not equal eight percent of gross receipts. Allows for a reduction of such percentage under certain circumstances.
Bill· HRH.R. 3802 (98th)referred
United States · United States Congress · 4 August 1983
Amends the Internal Revenue Code to permit a domestic trade or business whose equity capital does not exceed $25,000,000 to reduce the value of a portion of excess inventory items held for more than 12 months. Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1982.
Bill· SS. 1758 (98th)open
United States · United States Congress · 3 August 1983
Accounting Cost Recovery Simplification Act of 1983 - Amends the Internal Revenue Code to establish a recovery account system for calculating the depreciation deduction under the accelerated cost recovery system for three and five year personal property. Determines the recovery deduction each year by computing a percentage of the amount in the recovery account. Sets forth rules and guidelines for the maintenance and operation of the recovery accounts.
Bill· SS. 1732 (98th)open
United States · United States Congress · 3 August 1983
Amends the Internal Revenue Code to allow an energy investment tax credit of ten percent for equipment used for conversions to coal fuel and five percent for coal mining equipment. Terminates both credits after 1993. Allows a 12-month amortization period for pollution control facilities used in connection with a plant that uses coal as a principal fuel. (Present law allows such amortization over a five year period.) Increases the income tax credit for increasing research activities from 25 percent to 50 percent for activities relating to coal mining or burning and to controlling pollutants caused by the burning of coal. Repeals the 15 percent reduction in the depletion allowance for coal and iron ore. Allows an income tax deduction for additional sums set aside in any reserve established for the estimated expenses of surface mining land reclamation. Amends the Powerplant and Industrial Fuel Use Act of 1978 to require each executive agency to survey its electric powerplants, and major fuel-burning installations in order to identify those which may be converted to coal. Requires each executive agency to submit to the Office of Management and Budget an annual plan for the conversion of electric powerplants and major fuel-burning installations to coal.
Bill· SS. 1761 (98th)open
United States · United States Congress · 3 August 1983
Amends the Internal Revenue Code to grant tax-exempt status to foreign pension trusts which invest in the United States. Requires that such pension trusts: (1) be maintained primarily to provide retirement benefits to employees who are primarily nonresident alien individuals; (2) have assets which are segregated from the assets of the employer maintaining the trust pursuant to the laws of the foreign country in which the trust is maintained; and (3) be maintained in a foreign country which grants preferential tax treatment to such pension trusts. Provides that such exemption shall not apply to any income or gain derived by such trusts from any interest in land used in farming. Authorizes the President to withdraw such tax-exempt status from such trusts if the country in which the trust is maintained is a country which does not grant preferential tax treatment to U.S. pension trusts investing in that country.
Bill· SS. 1753 (98th)open
United States · United States Congress · 3 August 1983
Older Worker Employment Incentives Act of 1983 - Amends the Internal Revenue Code to include low-income older workers (who are members of economically disadvantaged families and are at least 65 years of age) as members of targeted groups for purposes of the tax credit for employment of certain new employees. Reduces the rates of the social security taxes on employees and on employers by one-half in the case of workers 65 years of age or older. Makes similar reductions in the case of older workers in the rates of Railroad Retirement Act taxes on employees, employee representatives, and employers.
Bill· SS. 1738 (98th)open
United States · United States Congress · 3 August 1983
Amends the Internal Revenue Code to permit a domestic trade or business whose equity capital does not exceed $25,000,000 to reduce the value of a portion of excess inventory items held for more than 12 months. Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1982.
Bill· SS. 1745 (98th)open
United States · United States Congress · 3 August 1983
Amends the Internal Revenue Code to grant tax-exempt status to a physicians' and surgeons' mutual protection association established to provide malpractice insurance to its members. Characterizes payment for malpractice insurance made to such an association by its physician or surgeon members as a deductible business expenses.
Bill· HRH.R. 3779 (98th)referred
United States · United States Congress · 3 August 1983
Home Equity Conversions Act of 1983 - Amends the Internal Revenue Code to permit the owner of a residence who has attained the age of 55 to enter into a sale- leaseback transaction with a prospective purchaser of the residence and retain occupancy rights to the residence under a lease requiring a fair rental. Allows the purchaser of such residence an income tax deduction for depreciation of the residence. Permits an owner of a residence who sells such residence under a sale-leaseback arrangement to claim the one-time exclusion from income of gain from the sale of a principal residence by an individual age 55 or older. Excludes from the gross income of such owner the value of any occupancy rights or fair market price discount attributable to retained occupancy rights received in a sale-leaseback transaction. Permits the use of the installment sales method of accounting in reporting gain from the sale of a residence under a sale-leaseback agreement. Provides a special rule for the treatment of an annuity purchased for the owner-occupant under a sale-leaseback transaction. Establishes a legal presumption that a sale-leaseback transaction for the sale of a residence under this Act is an activity engaged in for profit for purposes of the deductibility of certain related business expenses. Exempts the purchaser of a residence under a sale-leaseback agreement from rules disallowing income tax deductions for personal use of a residence.
Bill· HRH.R. 3757 (98th)referred
United States · United States Congress · 3 August 1983
Business Opportunity Act of 1983 - Amends the Internal Revenue Code to reduce the maximum rate of income tax on corporations from 46 percent to 36 percent. Phases in such reduction in five steps between the years 1984 and 1988.
Bill· HRH.R. 3759 (98th)referred
United States · United States Congress · 3 August 1983
Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for new irrigation equipment. Terminates such additional percentage after December 31, 1989. Requires a reduction in the amount of such credit where such equipment is financed by nontaxable grants. Limits the amount of such credit to 25 percent of the taxpayer's gross income derived from farming.
Bill· HRH.R. 3764 (98th)referred
United States · United States Congress · 3 August 1983
Amends the Internal Revenue Code to repeal the occupational tax on manufacturers of stills and condensers used in distilling alcohol.
Bill· HRH.R. 3760 (98th)referred
United States · United States Congress · 3 August 1983
Provides that at least 20 percent of enterprise zones designated under any Federal law must be areas that are adversely affected by the devaluation of the Mexican peso.
Bill· HRH.R. 3756 (98th)referred
United States · United States Congress · 3 August 1983
Capital Growth Act of 1983 - Amends the Internal Revenue Code to increase the income tax deduction for capital gains for individuals to 65 percent in 1984, to 70 percent in 1985, and to 75 percent in years after 1985.
Resolution· HRESH.Res. 296 (98th)open
United States · United States Congress · 3 August 1983
Sets forth the rule for the consideration of H.R. 2992 (foreign assistance programs).
Bill· HRH.R. 3737 (98th)referred
United States · United States Congress · 2 August 1983
Political Tax Credit Reform Act of 1983 - Amends the Internal Revenue Code to repeal the income tax credit for contributions made to candidates for President, candidates for State and local offices, political action committees, and newsletter funds. Allows an income tax credit for one-half of the amount contributed to a political party and the full amount contributed to a congressional candidate. Amends the Federal Election Campaign Act of 1971 to require any candidate or committee receiving contributions eligible for such tax credit to include in its required report the number and aggregate amount of all eligible contributions.
Bill· SS. 1719 (98th)open
United States · United States Congress · 1 August 1983
Amends the Internal Revenue Code to eliminate capital gain treatment of timber income.
Bill· HRH.R. 3724 (98th)open
United States · United States Congress · 1 August 1983
Amends the Internal Revenue Code to extend for one year, until December 31, 1984, the period during which mortgage revenue bonds may be issued as tax-exempt bonds (interest excluded from gross income).
Bill· SS. 1708 (98th)reported
United States · United States Congress · 29 July 1983
Child Support Enforcement Act of 1983 - Amends part D (Child Support and Establishment of Paternity) of title IV of the Social Security Act to state that the purpose of part D is to assure that all children in the United States who are in need of assistance in securing financial support from their parents will receive such assistance regardless of the economic status of their parents and that parents will prevent their children from becoming a burden on taxpayers by fulfilling to the best of their ability their financial obligations on behalf of their children. Revises provisions relating to incentive payments under part D. Provides that incentives will be computed and paid quarterly beginning in FY 1986. Provides generally that as the amount of support collected increases, the incentive payment will increase. Repeals the present incentive system as of October 1, 1985, but assures a State of receiving at least 80 percent in FY 1986, 60 percent in FY 1987, and 40 in FY 1988, of what the State would have received under the repealed incentive system. Provides for the collection of past-due support from Federal tax refunds in non-Aid to Families With Dependent Children (part A of title IV) cases, (currently, this is done for AFDC cases). Requires a State under part D to implement procedures providing for: (1) the withholding of child support from wages if a support order has been entered by a State; (2) quasi-judicial or administrative procedures for entering child support orders which have the same force and effect as orders entered by a court; (3) the collection of past-due support from State tax refunds; (4) placing liens on real property for amounts of past- due support; (5) the sharing of information regarding amounts of past-due support owed by absent parents with consumer credit bureau organizations; and (6) seeking employment-related health care or health insurance from the absent parent for children for whom the State is seeking financial support when such care or insurance would be available at a reasonable cost and such care or insurance could not be provided by the custodial parent. Authorizes the Secretary of Health and Human Services to make grants to States to assist in the development or improvement of clearinghouses and other information management systems to aid in the enforcement of support by facilitating the collection and exchange, both within a State or locality and among States and localities, of child support information. Authorizes appropriations for such purpose for FY 1984 through FY 1989. Requires that there be filed annually with the Secretary, or the designee of the Secretary, data showing the number of cases by State filed on behalf of children seeking support in which all support owed was fully paid in each of the proceding 12 months, the number of such cases in which at least 80 percent of the support owed was paid in each of the preceding 12 months, the number of such cases in which less than half the support owed was paid, and the number of such cases in which no support was paid. Amends title III (Grants to States for Unemployment Compensation Administration) of the Act to require the reporting (at least quarterly), of the name, address, and wages paid to each individual with respect to whom an unemployment contribution has been made. Requires a State unemployment compensation agency to disclose to any State or local child support enforcement agency and to any State agency administering a State AFDC plan any information it has regarding an individual's: (1) wages; (2) unemployment compensation; (3) address; and (4) employment opportunities. Makes conforming amendments to sections of the Internal Revenue Code, Wagner-Peyser Act, and Unemployment Compensation Amendments of 1976.
Bill· SS. 1713 (98th)referred
United States · United States Congress · 29 July 1983
Amends the Intelligence Authorization Act for Fiscal Year 1983 to prohibit the Central Intelligence Agency or any other agency involved in intelligence activities from using FY 1983 or 1984 appropriations to support military or paramilitary operations in Nicaragua. Authorizes the President to furnish assistance to a friendly country in Central America to enable such country to prevent the use of its territory or to prevent, to the extent permitted by international law, the use of international territory for the transfer of military equipment from or through Cuba, Nicaragua, or any other country or agents of that country, to a group which seeks to overthrow the government of that country or another friendly government. Requires such aid to be provided openly. Permits such assistance only if the receiving country agrees not to use the assistance to overthrow the government of another Central American country. Requires the President, at least 15 days before providing such assistance, to describe the proposed assistance to the Congress in an unclassified report. Authorizes appropriations for FY 1983 and 1984. Declares that such funds shall be available for any friendly country in Central America only for the purpose of interdicting the transfer of military equipment to any country in Central America. Directs the President to seek a reconvening of the Seventeenth Meeting of Consultation of Ministers of Foreign Affairs of the Organization of American States (OAS) in order to reevaluate the compliance by the Government of National Reconstruction of Nicaragua with its commitments to OAS and with the OAS Charter. Directs the President to seek actions by OAS that would provide a full range of effective measures by member states to bring about Nicaraguan compliance with those obligations, including verifiable agreements to halt the transfer of military equipment and to cease furnishing military support to groups seeking the violent overthrow of Central American governments. Directs the President to use all diplomatic means available to encourage the OAS to seek resolutions of the conflicts in Central America based on the provisions of the Final Act of the San Jose Conference of October, 1982. Declares that the United States shall support measures at the OAS, as well as efforts of the Contadora Group, which seek to end support for terrorist, subversive, or other activities aimed at the violent overthrow of Central American governments. Authorizes using funds that are authorized to be appropriated by this Act to provide U.S. support for activities with respect to Nicaragua which are designed to end the conflict in the region and which are approved by the OAS. Directs the President to report to Congress by March 15, 1984, on the results of efforts made pursuant to this Act to achieve peace in Central America and to end the flow of arms in Central America.
Bill· SS. 1703 (98th)open
United States · United States Congress · 28 July 1983
Requires the Commodity Credit Corporation to accept under certain conditions during FY 1984 and FY 1985 offers to exchange needed strategic and critical materials for surplus dairy stocks. Requires six-month reports to Congress during such period.
Bill· SS. 1698 (98th)open
United States · United States Congress · 28 July 1983
Co-op Property Tax Equity Act - Amends the Internal Revenue Code to permit tenant shareholders of a cooperative housing corporation to calculate the amount of their income tax deduction for real property taxes on the basis of separate appraisals for dwelling units, rather than on ownership of shares in the corporation, where State law requires an allocation of taxes based on such separate appraisals.