Taxation

Sustainable Vessel Fuel Act

United States · United States Congress · 29 September 2023

Maritime Fuel Tax Parity Act

United States · United States Congress · 29 September 2023

Veterans HSA Access Act of 2023

United States · United States Congress · 28 September 2023

Fiscal Commission Act of 2023

United States · United States Congress · 28 September 2023

California Clean School Bus Equity Act

United States · United States Congress · 28 September 2023

California Clean School Bus Equity Act This bill removes a limitation on amounts that may be provided to all eligible entities in a state under the clean school bus program administered by the Environmental Protection Agency. Specifically, the bill removes a provision that limits the amount received by all eligible entities in a state from grants and rebates under the program to no more than 10% of the amounts made available to carry out the program during a fiscal year. 

Technology for Energy Security Act

United States · United States Congress · 28 September 2023

Technology for Energy Security Act of 2023 This bill extends the energy investment tax credit for qualified fuel cell property for eight years.  Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 2032.

Employee Business Expense Deduction Reinstatement Act of 2023

United States · United States Congress · 28 September 2023

Employee Business Expense Deduction Reinstatement Act of 2023 This bill reinstates the tax deduction for the itemized miscellaneous expenses of employees performing services in a trade or busines (the deduction is currently suspended for the period beginning in 2018 through 2025). The amount the an employee may take into account in computing the deduction is 85% of unreimbursed food, lodging, travel, or transportation expenses. The bill also lowers the threshold for the deduction to the extent its aggregate amount exceeds 1% (2% under current law).

Mental Health Research Accelerator Act of 2023

United States · United States Congress · 28 September 2023

Mental Health Research Accelerator Act of 2023 This bill allows a tax credit through 2033 for 25% of expenses for translational research regarding neurodegenerative diseases and psychiatric conditions. The credit amount is subject to limitations, including an aggregate national limitation of $1 billion in 2024, $2 billion in 2025-2028, and $1 billion in 2029.

Making Imperiled Communities Resistant to Outages with Generation that is Resilient, Islandable, and Distributed Extension Act

United States · United States Congress · 28 September 2023

Making Imperiled Communities Resistant to Outages with Generation that is Resilient, Islandable, and Distributed Extension Act or the MICROGRID Extension Act This bill extends the energy investment tax credit for microgrid controllers for eight years.  Under current law, an energy investment tax credit of up to 30% of the cost of a microgrid controller is available provided construction of the microgrid controller begins on or before December 31, 2024. This bill extends the energy investment tax credit to include microgrid controllers where construction begins on or before December 31, 3032.

Grid Resiliency Tax Credit Act

United States · United States Congress · 28 September 2023

Drive American Act

United States · United States Congress · 28 September 2023

Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2023

United States · United States Congress · 28 September 2023

Maintaining and Enhancing Hydroelectricity and River Restoration Act of 2023 This bill establishes a new investment tax credit in the amount of 30% of the basis of any hydropower improvement property. The bill defines hydropower improvement property as property that adds or improves fish passage at a qualified dam; maintains or improves the quality of the water retained or released by a qualified dam; promotes downstream sediment transport and habitat maintenance; upgrades, repairs, or reconstructs a qualified dam to meet safety and security standards; improves public uses of, and access to, public waterways impacted by a qualified dam; removes an obsolete river obstruction; or places into service an approved remote dam. Further, written approval for hydropower improvement property must be obtained from the Federal Energy Regulatory Commission or state or local officials prior to January 1, 2032. The bill also allows an election to claim the investment tax credit for qualified progress expenses for some types of hydropower improvement property in advance of such property being placed into service. Any investment tax credit amount claimed for qualified progress expenses reduces the amount of the investment tax credit that may be claimed once the hydropower improvement property is placed into service.  The bill authorizes certain entities, including tax-exempt and governmental entities, to treat the investment tax credit for hydropower improvement property as a payment of tax and receive a refund of any overpayment (also known as elective pay).  Finally, the investment tax credit for hydropower improvement property may be transferred (i.e., sold).  

Community Development Investment Tax Credit Act of 2023

United States · United States Congress · 28 September 2023

Community Development Investment Tax Credit Act of 2023 This bill allows investors a business-related tax credit for investment in a Community Development Financial Institution (CDFI). The applicable percentage of such credit is 3% for the first 10 years of investment in a CDFI with a 1% increase after the initial credit allowance date and for investments without a fixed term or duration. The tax credit is available to investors who invest in various CDFIs to provide financial support for increasing wealth in low- and moderate-income communities. The national limitation on the credit is $1 billion for 2022, $1.5 billion for 2023, and $2 billion for 2024 and each year thereafter, with adjustments for inflation.

Intelligence Community Workforce Agility Protection Act of 2023

United States · United States Congress · 28 September 2023

Intelligence Community Workforce Agility Protection Act of 2023 This bill allows a current tax deduction for the moving and traveling expenses of an employee or new appointee of the intelligence community who moves due to a change in assignment that requires relocation. It also allows a current tax exclusion for such employees or appointees for moving expense reimbursements. Under current law, the tax deduction and exclusion for the moving expenses of other taxpayers are suspended for the period beginning in 2018 through 2025.

Opening Plans to Individuals and Offering New Services for Mental Health Act of 2023

United States · United States Congress · 27 September 2023

Opening Plans to Individuals and Offering New Services for Mental Health Act of 2023 or the OPTIONS Act of 2023 This bill allows a high-deductible health plan (HDHP) to provide up to $500 of mental health benefits before the annual deductible is met as part of its plan benefits and still be classified as an HDHP.  Under current law, to be considered health savings account-eligible, an HDHP must have a deductible above a certain minimum threshold amount, which is adjusted annually. For 2024, a health plan's annual deductible must be at least $1,600 for self-only coverage and $3,200 for family coverage to qualify as an HDHP. 

To amend the Internal Revenue Code of 1986 to improve health savings accounts.

United States · United States Congress · 27 September 2023

Energy Innovation and Carbon Dividend Act of 2023

United States · United States Congress · 27 September 2023

Energy Innovation and Carbon Dividend Act of 2023 This bill imposes a fee on the carbon content of fuels, including crude oil, natural gas, coal, or any other product derived from those fuels that will be used so as to emit greenhouse gases into the atmosphere. The fee is imposed on the producers or importers of the fuels and is equal to the greenhouse gas content of the fuel multiplied by the carbon fee rate. The rate begins at $15 per metric ton of CO2-e (i.e., carbon dioxide equivalent) in 2023, increases by $10 each year, and is subject to further adjustments based on the progress in meeting specified emissions reduction targets. The bill also includes exemptions for fuels used for agricultural or nonemitting purposes, exemptions for fuels used by the Armed Forces, rebates for facilities that capture and sequester carbon dioxide, and border adjustment provisions that require certain fees or refunds for carbon-intensive products that are exported or imported. The fees must be deposited into a Carbon Dividend Trust Fund and used for administrative expenses and dividend payments to U.S. citizens or lawful residents. The fees must be decommissioned when emissions levels and monthly dividend payments fall below specified levels. The bill also requires the Department of Energy to enter into agreements with the National Academy of Sciences to study and report on various impacts related to the carbon fee and emissions reduction schedule established by the bill.

To amend the Internal Revenue Code of 1986 to clarify the treatment of distributions from health savings accounts for long-term care services.

United States · United States Congress · 27 September 2023

To establish as a permanent program the organic market development grant program of the Department of Agriculture.

United States · United States Congress · 27 September 2023

This bill provides statutory authority for the Organic Market Development Grant (OMDG) Program within the Agricultural Marketing Service. The bill also provides specified funds for the program for FY2024 and each fiscal year thereafter.  The OMDG Program supports the development of new and expanded organic markets. Eligible applicants include business entities that produce or handle organic products; nonprofit organizations; trade associations; and tribal, state, territorial, and local government entities. Grant funds may be used to carry out projects that are for (1) market development and promotion of certified organic products; (2) certified organic product storage (including cold storage), aggregation, processing, and distribution capacity expansion; and (3) equipment-only.     

Providing for consideration of the bill (H.R. 5692) making supplemental appropriations for the fiscal year ending September 30, 2024, and for other purposes; providing for further consideration of the bill (H.R. 4365) making appropriations for the Department of Defense for the fiscal year ending September 30, 2024, and for other purposes; and providing for further consideration of the bill (H.R. 4367) making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2024, and for other purposes.

United States · United States Congress · 27 September 2023

Sets forth the rule for consideration of the bill (H.R. 5692) making supplemental appropriations for the fiscal year ending September 30, 2024, and for other purposes; providing for further consideration of the bill (H.R. 4365) making appropriations for the Department of Defense for the fiscal year ending September 30, 2024, and for other purposes; and providing for further consideration of the bill (H.R. 4367) making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2024.

To amend the Internal Revenue Code of 1986 to restore the limitation on downward attribution of stock ownership in applying constructive ownership rules.

United States · United States Congress · 27 September 2023

This bill restores the limitation on downward attribution rules to 50% of stock ownership in applying constructive ownership rules to controlled foreign corporations.

Guaranteed Income Pilot Program Act of 2023

United States · United States Congress · 27 September 2023

Guaranteed Income Pilot Program Act of 2023 This bill directs the Department of Health and Human Services (HHS) to establish and implement a three-year pilot program to provide a guaranteed monthly income to individual taxpayers between the ages of 18-65. HHS must consult with the Internal Revenue Service and certain nonpartisan and nonprofit agencies or academic institutions with expertise in social science experimentation to develop and award income subsidies to eligible taxpayers and to conduct a study on the outcomes of the program.

Opportunity Zones Transparency, Extension, and Improvement Act

United States · United States Congress · 27 September 2023

Opportunity Zones Transparency, Extension, and Improvement Act This bill revises rules and reinstates reporting requirements relating to qualified opportunity zones (economically distressed communities where new investments, under specified conditions, may be eligible for preferential tax treatment). Specifically, the bill terminates the designation of zones that are disqualified due to median family income exceeding 130% of national median family income and permits states to identify and expand terminations of such zones. The bill also reinstates reporting requirements for qualified opportunity zones and imposes penalties for noncompliance with such requirements, extends the opportunity zones temporary deferral period for qualifying capital gain through 2028, and establishes a State and Community Dynamism Fund to support public and private investment in qualified opportunity zones.

A bill to align the fiscal year with the calendar year.

United States · United States Congress · 27 September 2023

A bill to establish as a permanent program the organic market development grant program of the Department of Agriculture.

United States · United States Congress · 27 September 2023

This bill provides statutory authority for the Organic Market Development Grant (OMDG) Program within the Agricultural Marketing Service. The bill also provides specified funds for the program for FY2024 and each fiscal year thereafter.  The OMDG Program supports the development of new and expanded organic markets. Eligible applicants include business entities that produce or handle organic products; nonprofit organizations; trade associations; and tribal, state, territorial, and local government entities. Grant funds may be used to carry out projects that are for (1) market development and promotion of certified organic products; (2) certified organic product storage (including cold storage), aggregation, processing, and distribution capacity expansion; and (3) equipment-only.

Middle East Security Coordination Act of 2023

United States · United States Congress · 27 September 2023

Middle East Security Coordination Act of 2023 This bill requires the Department of State to periodically report to Congress on the activities of the Office of the U.S. Security Coordinator for Israel and the Palestinian Authority (USSC). Specifically, the reports shall be on USSC security coordination and efforts to professionalize Palestinian security forces. The State Department shall also report to Congress on the viability of the inclusion of contributions from additional countries to the USSC, particularly countries party to the Abraham Accords or other Arab or Muslim-majority countries. The bill also reauthorizes U.S. support for the USSC for the first five fiscal years following enactment of the bill.

To amend the Internal Revenue Code of 1986 to allow individuals entitled to Medicare Part A to make contributions to health savings accounts.

United States · United States Congress · 26 September 2023

Advancing Health Savings Act of 2023

United States · United States Congress · 26 September 2023

Advancing Health Savings Act of 2023 This bill excludes from taxable income any distributions from a health savings account (HSA) used to pay qualified medical expenses incurred before the HSA is established if the HSA is established within 60 days from the first day of coverage under a high-deductible health plan (HDHP). Under current law, distributions from an HSA established in connection with a HDHP are excluded from taxable income if used to pay qualified medical expenses incurred on or after the date that the HSA is established. However, under current law, HSA distributions are taxable if used to pay otherwise qualified medical expenses incurred after enrolling in an HDHP but before establishing an HSA. Under the bill, an HSA that is established within 60 days of the first day of coverage under an HDHP is treated as being established on the first date that coverage begins under the HDHP. 

Elevating HSA Limits Act of 2023

United States · United States Congress · 26 September 2023

Health Savings for Families Act of 2023

United States · United States Congress · 26 September 2023

Health Savings for Families Act of 2023 This bill permits contributions to health savings accounts by individuals whose spouses have health flexible spending accounts.

No Bailout for Sanctuary Cities Act

United States · United States Congress · 26 September 2023

No Bailout for Sanctuary Cities Act This bill makes a state or political subdivision of a state ineligible for any federal funds the jurisdiction intends to use to benefit non-U.S. nationals (i.e., aliens under federal law) who are unlawfully present if the jurisdiction withholds information about citizenship or immigration status or does not cooperate with immigration detainers. Specifically, such funds are denied to any jurisdiction that has a law, policy, or practice that prohibits or restricts any government entity from maintaining, sending, or receiving information regarding the citizenship or immigration status of any individual; exchanging information regarding an individual's citizenship or immigration status with a federal, state, or local government entity;  complying with a valid immigration detainer from the Department of Homeland Security (DHS); or  notifying DHS about an individual's release from custody. The funding restriction does not apply to a law, policy, or practice that only applies to an individual who comes forward as a victim of or a witness to a criminal offense. The bill applies beginning in the fiscal year following its enactment.

Bipartisan HSA Improvement Act of 2023

United States · United States Congress · 26 September 2023

Bipartisan HSA Improvement Act of 2023 This bill allows an individual to contribute to a health savings account (HSA), as part of a high deductible health plan (HDHP), while also participating in a primary care service arrangement, receiving qualified items or services at an employer-sponsored on-site clinic, or if covered under a spouse’s flexible spending arrangement (FSA). Further, the bill allows individuals to rollover amounts in an FSA or health reimbursement arrangement (HRA) into an HSA. The bill defines a primary care service arrangement as one in which an individual is provided primary care services by a primary care practitioner for a periodic fixed fee of no more than $150 a month for an individual (or no more than $300 a month for an arrangement that covers more than one individual). Additionally, under the bill, qualified items or services received at an employer-sponsored, on-site clinic include physical exams, immunizations, nonprescription drugs or biologicals, treatment for injuries related to an individual’s employment, preventative care for chronic conditions, and vision and hearing screenings. The bill allows an individual to contribute to an HSA, as part of an HDHP, even if covered by a spouse’s FSA. However, amounts in the spouse’s FSA must be used to reimburse the spouse’s eligible medical expenses for the plan year before being rolled over into the individual’s HSA. Finally, individuals may be able to rollover up to the annual FSA contribution limit from an FSA or HRA into an HSA upon enrolling in an HDHP. 

HSA Modernization Act of 2023

United States · United States Congress · 26 September 2023

Airport and Airway Extension Act of 2023

United States · United States Congress · 26 September 2023

Airport and Airway Extension Act of 2023 This bill temporarily extends specific Federal Aviation Administration (FAA) programs and activities through December 31, 2023. For example, the bill extends the FAA Unmanned Aircraft Systems (UAS) pilot programs (e.g., the UAS Test Site Program and the UAS remote detection and identification pilot program), weather reporting programs, Remote Tower Pilot Program, and Essential Air Service Program. The bill also extends the authorization for the Airport Improvement Program (AIP). (This program provides grants for planning, development, and noise compatibility projects at or associated with certain public-use airports.) Further, the bill extends through December 31, 2023, the FAA's authority for expenditures from the Airport and Airway Trust Fund (AATF) and to collect various taxes and fees to fund the AATF, including taxes on aviation fuel and airline tickets. (The AATF is the primary funding source for all major FAA accounts that fund federal aviation programs, with the remainder coming from general fund appropriations.)

Providing for consideration of the bill (H.R. 4365) making appropriations for the Department of Defense for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 4367) making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 4665) making appropriations for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2024, and for other purposes; and providing for consideration of the bill (H.R. 4368) making appropriations for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies programs for the fiscal year ending September 30, 2024, and for other purposes.

United States · United States Congress · 26 September 2023

Sets forth the rule for consideration of the bill (H.R. 4365) making appropriations for the Department of Defense for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 4367) making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 4665) making appropriations for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2024, and for other purposes; and providing for consideration of the bill (H.R. 4368) making appropriations for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies programs for the fiscal year ending September 30, 2024.

Tobacco Tax Equity Act of 2023

United States · United States Congress · 26 September 2023

Tobacco Tax Equity Act of 2023 This bill increases the excise tax on cigarettes and cigars and equalizes tax rates among all other tobacco products. It also imposes a tax on nicotine for use in vaping.

Secure Family Futures Act of 2023

United States · United States Congress · 26 September 2023

Grand River Bands of Ottawa Indians Restoration Act of 2023

United States · United States Congress · 26 September 2023

Grand River Bands of Ottawa Indians Restoration Act of 2023 This bill affirms federal recognition of the Grand River Bands of Ottawa Indians of Michigan. Specifically, the bill makes the tribe and its members eligible for services and benefits provided to federally recognized tribes, without regard to the existence of a reservation for the tribe or the location of the residence of any member on or near a reservation. The service area of the tribe shall be Newaygo, Oceana, Kent, Muskegon and Ottawa Counties in Michigan. Further, the tribe must submit a membership roll to the Department of the Interior as a condition of receiving recognition, services, and benefits. The tribe must maintain the membership roll. The bill directs Interior to (1) acquire, for the benefit of the tribe, trust title to land within Muskegon, Newaygo, or Oceana Counties; and (2) accept into trust any real property located in those counties for the benefit of the tribe if the property is conveyed to Interior and, at the time of such acceptance, there are no adverse legal claims on such property (e.g., outstanding liens, mortgages, or taxes owed). Additionally, the bill allows Interior to (1) acquire additional land for the benefit of the tribe, and (2) take into trust land in specified counties for the benefit of the tribe. Any land taken into trust for the benefit of the tribe shall, upon request of the tribe, be considered part of the tribe's reservation.

Prevent Government Shutdowns Act of 2023

United States · United States Congress · 26 September 2023

Prevent Government Shutdowns Act of 2023 This bill provides continuing appropriations to prevent a government shutdown if any of the appropriations bills for a fiscal year have not been enacted before the fiscal year begins and continuing appropriations are not in effect. The bill also limits official travel, congressional recesses or adjournments, and the consideration of legislation that is unrelated to appropriations after the beginning of a fiscal year if the appropriations process has not been completed.

EITC Age Parity Act of 2023

United States · United States Congress · 26 September 2023

EITC Age Parity Act of 2023 This bill modifies the age requirement for the earned income credit. Under current law, an individual taxpayer must have attained age 25, but not age 65, to claim the credit. This bill reduces the base year to age 18 and eliminates the age 65 cap on the credit.

American Workforce Empowerment Act

United States · United States Congress · 26 September 2023

American Workforce Empowerment Act  This bill expands the types of programs that tax-preferred college savings plans (i.e., 529 plans) may fund with distributions, including preapprenticeship and registered apprenticeship programs, a program of high school career and technical education, and a recognized postsecondary credential. 

Snap Back Inaccurate SNAP Payments Act

United States · United States Congress · 26 September 2023

Snap Back Inaccurate SNAP Payments Act This bill requires states to recoup any overpayments of benefits made to Supplemental Nutrition Assistance Program (SNAP) recipients and adjusts the formula for determining a state's liability rate for overpayments. As background, the SNAP quality control system measures how accurately SNAP state agencies determine a household’s eligibility and benefit amount and determines overpayments of benefits and underpayments. States that have comparatively high payment error rates for two consecutive years are assessed a penalty (i.e., liability amount). The Food and Nutrition Service (FNS) must use a statutory formula to determine the liability amount. Under current law, FNS must set a tolerance level for excluding small payment errors (e.g., $54 or less in FY2023). This bill reduces the tolerance level for excluding small errors to $0 for FY2024 and each succeeding fiscal year. The bill also requires state agencies to recoup any overpayments of benefits made to SNAP beneficiaries. The bill adjusts the liability rate formula to reduce the state payment error rate based on the percentage of overpayments recouped by the state. Further, the bill increases the multiplier used in the formula to 25% (from 10%). 

Tax-Free Pell Grant Act

United States · United States Congress · 26 September 2023

Tax-Free Pell Grant Act   This bill expands the tax exclusion for qualified scholarships to include an exclusion from gross income for amounts received by an individual taxpayer as a Federal Pell Grant.

Tobacco Tax Equity Act of 2023

United States · United States Congress · 26 September 2023

Tobacco Tax Equity Act of 2023 This bill increases the excise tax on cigarettes and cigars and equalizes tax rates among all other tobacco products. It also imposes a tax on nicotine for use in vaping.

Responsible Legislating Act

United States · United States Congress · 22 September 2023

Responsible Legislating Act This bill establishes or modifies various federal programs, including programs to increase participation in tax-exempt retirement plans, assist members of the Armed Forces, and increase penalties for human trafficking. Among other provisions, the bill extends through FY2024 livestock mandatory reporting requirements under the Livestock Mandatory Reporting Act of 1999; provides for apprenticeship training for members of the Armed Forces; makes various changes to tax-exempt pension plan provisions, including expanding automatic enrollment, increasing the tax credit for retirement savings contributions, and increasing the age for mandatory minimum distributions; establishes a Boots to Business Program to assist current and former members of the Armed Forces, including members of the National Guard and Reserves, interested in business ownership; increases criminal penalties for human trafficking and coercion and enticement in school zones; establishes the Commission to Study the Potential Creation of a National Museum of Asian Pacific American History and Culture; requires a report on increasing foreign direct investment in semiconductor-related manufacturing and production; and directs the Federal Maritime Commission, through a federally-funded research and development center, to evaluate the effect of foreign ownership of marine terminals at the 15 largest U.S. container ports on U.S. economic security. The bill appropriates funds in FY2024 for programs or divisions of the Departments of Health and Human Services, Agriculture, State, Defense, Homeland Security, and Energy.

Feed Our Families Act of 2023

United States · United States Congress · 21 September 2023

Feed Our Families Act of 2023 This bill provides appropriations for carrying out the Food and Nutrition Act of 2008 during the first 90-day period of a lapse in discretionary appropriations for carrying out the act during any fiscal year beginning after FY2023. The Food and Nutrition Act of 2008 is the authorizing statute for several Department of Agriculture nutrition and food assistance programs, including the Supplemental Nutrition Assistance Program (SNAP).

Providing for consideration of the bill (H.R. 4365) making appropriations for the Department of Defense for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 1130) to repeal restrictions on the export and import of natural gas; and providing for consideration of the resolution (H. Res. 684) condemning the actions of Governor of New Mexico, Michelle Lujan Grisham, for subverting the Second Amendment to the Constitution and depriving the citizens of New Mexico of their right to bear arms.

United States · United States Congress · 21 September 2023

Sets forth the rule for consideration of the bill (H.R. 4365) making appropriations for the Department of Defense for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 1130) to repeal restrictions on the export and import of natural gas; and providing for consideration of the resolution (H. Res. 684) condemning the actions of Governor of New Mexico, Michelle Lujan Grisham, for subverting the Second Amendment to the Constitution and depriving the citizens of New Mexico of their right to bear arms.

Michael F. Donoughe Tax Credit for Off Road Electric Vehicles Act

United States · United States Congress · 21 September 2023

Michael F. Donoughe Tax Credit for Off Road Electric Vehicles Act This bill expands the clean vehicle tax credit to include new qualified off-road plug-in electric vehicles. The amount of the tax credit allowed for a new qualified off-road plug-in electric vehicle is 10% of the cost of the vehicle or $2,500, whichever is lower. The bill defines a new qualified off-road plug-in electric vehicle as any vehicle that is acquired new and for use by the taxpayer; is made by a qualified manufacturer; is powered by an electric motor that draws electricity from a battery with a capacity of at least six  kilowatt hours; has final assembly occurring in North America; has a dry weight of less than 3,500 pounds; has three or more wheels; has one or more seats; is manufactured primarily for off-road use; is designed for use on rough terrain and, except in the case of a vehicle designed to operate on land and water, is not designed to operate on rails, in the air, or in or on the water; and is capable of reaching a speed of 40 miles per hour. Under current law, a qualified manufacturer is any manufacturer that has a written agreement with the Internal Revenue Service and submits reports containing information about each eligible clean vehicle. Finally, the bill allows the tax credit for a new qualified off-road plug-in electric vehicle to be transferred from the taxpayer to an eligible entity (e.g., vehicle dealer) in exchange for a financial benefit (e.g., rebate).

Bryson Fitch Fishermen Protection Act

United States · United States Congress · 21 September 2023

Bryson Fitch Fishermen Protection Act This bill allows a business-related tax credit for up to 50% of costs incurred for the purchase of personal locator beacons (PLBs) on a commercial vessel that has such beacons for every individual aboard the vessel. It also allows an income tax credit for individual taxpayers who purchase a PLB for use on a commercial vessel that does not have PLBs for every individual on board. The credits expire in taxable years beginning after 2028.

Adoption Tax Credit Refundability Act of 2023

United States · United States Congress · 21 September 2023

Adoption Tax Credit Refundability Act of 2023 This bill makes the tax credit for adoption expenses refundable.