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Bill· HRH.R. 16535 (93rd)referred
United States · United States Congress · 22 August 1974
Provides that any expenditure paid or incurred by a taxpayer in connection with his trade or business for the development or improvement of a product shall be treated as a research or experimental expenditure for purposes of a tax deduction under the Internal Revenue Code irrespective of the nature of such product and irrespective of whether the product constitutes the result of research on a literary, historical, or similar project. (Amends 26 U.S.C. 174)
Bill· SS. 3936 (93rd)referred
United States · United States Congress · 21 August 1974
Authorizes the President to reduce Federal expenditures for fiscal year 1975 to $295,000,000,000. Provides that in making reductions in amounts appropriated in order to reduce budget outlays to such amount, the President shall not reduce the amount of an item of appropriation: (1) if that appropriation does not exceed an amount equal to 95 percent of the sum requested in the budget for that fiscal year, unless (A) the President transmits a special message to Congress stating that he proposes to reduce the amount appropriated for such item and the sum by which that appropriation is to be reduced, and (B) neither House of Congress passes a resolution, during thirty calendar days of continuous session occurring immediately after transmittal of the message, stating in substance that it disapproves the reduction; and (2) in the case of any other item of appropriation, by more than 15 percent of the amount appropriated.
Bill· SS. 3935 (93rd)referred
United States · United States Congress · 21 August 1974
States that no person and no agency of the Government of the United States, or of any State or political subdivision of a State, shall be permitted to inspect a return of tax filed with the Internal Revenue Service by a taxpayer unless: (1) the Secretary or his delegate notifies the taxpayer in writing of the request to inspect such return; and (2) the Internal Revenue Service receives written consent from such taxpayer to such inspection. Imposes a $10,000 fine and a 5-year imprisonment, or both, for persons illegally disclosing or receiving tax return information.
Bill· HRH.R. 16527 (93rd)referred
United States · United States Congress · 21 August 1974
States that all returns made with respect to taxes imposed under the Internal Revenue Code are confidential and private records; but they may be opened to inspection by the following persons at such times and in such manner as the Commissioner of Internal Revenue by regulation may prescribe: (1) the taxpayer for whom the return was made or his attorney in fact; (2) officers and employees of the Internal Revenue Service, the Department of Justice for tax administration and economic stabilization purposes; (3) shareholders of record owning 1 percent or more of the outstanding stock of any corporation; (4) tax officials of the States; (5) the Committee on Ways and Means of the House of Representatives, the Finance Committee of the Senate, and the Joint Committee on Internal Revenue and Taxation; (6) the Attorney General, Assistant Attorneys General, and United States attorneys; and (7) officers and employees of executive departments and other establishments of the Federal Government upon written request of the head of such department or establishment naming the taxpayer whose return is to be inspected and provided that the inspection is necessary in the enforcement of Federal statutes. States that whenever a return is open to the inspection of any person, a certified copy thereof shall, upon request, be furnished to such person under regulations prescribed by the Commissioner of Internal Revenue who may prescribe a reasonable fee for furnishing such copy. Provides that all regulations issued by the Commissioner of Internal Revenue pursuant to this Act must have written approval of the Chief of Staff of the Joint Committee on Internal Revenue Taxation. States that this Act shall be effective upon enactment. Allows the Commissioner of Internal Revenue a period of ninety days after enactment to issue the regulations required herein.
Bill· HRH.R. 16515 (93rd)referred
United States · United States Congress · 21 August 1974
Increases the exemption for the Federal estate tax from $60,000 to $200,000. Limits the aggregate deduction for value of property passed to a surviving spouse to $100,000, plus 50 percent of the value of the adjusted gross estate. Allows an estate executor to determine the value of any real property in an estate by its use for farmland, woodland, or scenic open space.
Bill· SS. 3929 (93rd)referred
United States · United States Congress · 20 August 1974
Savings and Investment Act - Increases the investment credit, under the Internal Revenue Code, from 7 to 15 percent. Increases the variance from 20 to 40 percent, under the provisions of the Internal Revenue Code, relating to class lives for purposes of depreciation. Permits a 12-month amortization of pollution control facilities. Permits an income tax exclusion from capital gains for securities sales or exchanges under $1000. Allows an income tax credit of up to $200 for an amount equal to 10 percent of qualified savings deposits during a taxable year.
Bill· SS. 3927 (93rd)referred
United States · United States Congress · 20 August 1974
Reduces the minimum investment return for private foundations before taxes under the Internal Revenue Code will be imposed on such foundations for failure to distribute income.
Bill· HRH.R. 16482 (93rd)referred
United States · United States Congress · 20 August 1974
States that all returns made with respect to taxes imposed under the Internal Revenue Code are confidential and private records; but they may be opened to inspection by the following persons at such times and in such manner as the Commissioner of Internal Revenue by regulation may prescribe: (1) the taxpayer for whom the return was made or his attorney in fact; (2) officers and employees of the Internal Revenue Service, the Department of Justice for tax administration and economic stabilization purposes; (3) shareholders of record owning 1 percent or more of the outstanding stock of any corporation; (4) tax officials of the States; (5) the Committee on Ways and Means of the House of Representatives, the Finance Committee of the Senate, and the Joint Committee on Internal Revenue and Taxation; (6) the Attorney General, Assistant Attorneys General, and United States attorneys; and (7) officers and employees of executive departments and other establishments of the Federal Government upon written request of the head of such department or establishment naming the taxpayer whose return is to be inspected and provided that the inspection is necessary in the enforcement of Federal statutes. States that whenever a return is open to the inspection of any person, a certified copy thereof shall, upon request, be furnished to such person under regulations prescribed by the Commissioner of Internal Revenue who may prescribe a reasonable fee for furnishing such copy. Provides that all regulations issued by the Commissioner of Internal Revenue pursuant to this Act must have written approval of the Chief of Staff of the Joint Committee on Internal Revenue Taxation. States that this Act shall be effective upon enactment. Allows the Commissioner of Internal Revenue a period of ninety days after enactment to issue the regulations required herein.
Bill· HRH.R. 16497 (93rd)referred
United States · United States Congress · 20 August 1974
Allows an individual taxpayer, under the Internal Revenue Code, a deduction for amounts paid by him for the funeral expenses of specified related decedents.
Bill· HRH.R. 16491 (93rd)referred
United States · United States Congress · 20 August 1974
Provides for payments to State and local governments in lieu of real property taxes, with respect to real property owned by the Federal Government.
Bill· HRH.R. 16483 (93rd)referred
United States · United States Congress · 20 August 1974
Excludes from gross income under the Internal Revenue Code the interest, up to $800, on deposits in banks and other savings institutions.
Bill· HRH.R. 16466 (93rd)referred
United States · United States Congress · 19 August 1974
Fiscal Integrity Act - Expresses the findings of Congress, including that allowing the continuation of policies which lessen the fiscal integrity of the Government is detrimental to the general welfare of the people and ought, therefore, to be ended. Title I: Revenue and Budget Outlays Control - Establishes for each fiscal year a revenue and budget outlays limit for the Government. States that no appropriation shall be made for any fiscal year by the Congress in excess of the revenue and budget outlays limit for such fiscal year. Provides that if the revenue of the Government exceeds the limit established, the excess shall be used for the payment of the public debt of the Government. States that the revenue and budget outlays limit shall be derived by multiplying the estimated aggregate national income for such fiscal year by the Federal revenue factor. Defines "Federal revenue factor". Title II: Monetary Supply Control - Directs the Board of Governors of the Federal Reserve System to insure that any rate of increase in the amount of currency in circulation and demand deposits is not greater than 1 1/4 percent per quarter fiscal year. Title III: Fiscal Disclosure - States that a bill or joint resolution introduced in either House of Congress or received by it from the other House shall be printed only when there appears at the bottom of the first page a fiscal note. Requires such fiscal note to state the amounts estimated to be the direct and indirect costs likely to be incurred or the direct and indirect savings likely to be achieved in carrying out the provisions of such bill or joint resolution in the fiscal year in which it is introduced or received and in each of the five fiscal years following such fiscal year, or for the authorized duration of any program authorized by such bill or joint resolution if less than five years, except that in the case of measures affecting revenue, the fiscal note shall state only the estimate of change in revenues for a one-year period. States that a copy of each such bill or joint resolution shall be transmitted immediately to the instrumentality of Government which will carry out its provisions.
Bill· HRH.R. 16469 (93rd)referred
United States · United States Congress · 19 August 1974
Directs the Clerk of the House of Representatives, the Sergeant at Arms of the House of Representatives, the Architect of the Capitol, and the Librarian of Congress (with respect to the employees of the United States Botanic Garden) to enter into agreements with Maryland, Virginia, and the District of Columbia for the withholding of State or District of Columbia income tax in the case of each Member and employee who is subject to such income tax and who voluntarily agrees to such withholding. States that such agreement shall be subject to review by the Committee on House Administration of the House of Representatives.
Bill· HRH.R. 16457 (93rd)referred
United States · United States Congress · 19 August 1974
Excludes from gross income, under the Internal Revenue Code, the amount of specified cancellations of indebtedness under health care education loan programs.
Bill· HRH.R. 16471 (93rd)referred
United States · United States Congress · 19 August 1974
Makes a supplemental appropriation of $187,500 for the Department of Health, Education, and Welfare for fiscal year 1975, to provide funds to conduct a study of the effects of the red tide on human health.
Bill· HRH.R. 16452 (93rd)referred
United States · United States Congress · 15 August 1974
States that all returns made with respect to taxes imposed under the Internal Revenue Code are confidential and private records; but they may be opened to inspection by the following persons at such times and in such manner as the Commissioner of Internal Revenue by regulation may prescribe: (1) the taxpayer for whom the return was made or his attorney in fact; (2) officers and employees of the Internal Revenue Service, the Department of Justice for tax administration and economic stabilization purposes; (3) shareholders of record owning 1 percent or more of the outstanding stock of any corporation; (4) tax officials of the States; (5) the Committee on Ways and Means of the House of Representatives, the Finance Committee of the Senate, and the Joint Committee on Internal Revenue and Taxation; (6) the Attorney General, Assistant Attorneys General, and United States attorneys; and (7) officers and employees of executive departments and other establishments of the Federal Government upon written request of the head of such department or establishment naming the taxpayer whose return is to be inspected and provided that the inspection is necessary in the enforcement of Federal statutes. States that whenever a return is open to the inspection of any person, a certified copy thereof shall, upon request, be furnished to such person under regulations prescribed by the Commissioner of Internal Revenue who may prescribe a reasonable fee for furnishing such copy. Provides that all regulations issued by the Commissioner of Internal Revenue pursuant to this Act must have written approval of the Chief of Staff of the Joint Committee on Internal Revenue Taxation. States that this Act shall be effective upon enactment. Allows the Commissioner of Internal Revenue a period of ninety days after enactment to issue the regulations required herein.
Bill· HRH.R. 16440 (93rd)referred
United States · United States Congress · 15 August 1974
Makes a supplemental appropriation of $187,500 for the Department of Health, Education, and Welfare for fiscal year 1975, to provide funds to conduct a study of the effects of the red tide on human health.
Bill· SS. 3903 (93rd)referred
United States · United States Congress · 13 August 1974
Extends the authorization of appropriations for the State and Local Fiscal Assistance Act of 1972 for seven years (through fiscal year 1983).
Bill· HRH.R. 16405 (93rd)referred
United States · United States Congress · 13 August 1974
Cost-of-living Adjustment Act- Provides, under the Internal Revenue Code, for automatic cost-of-living adjustments, based on the Consumer Price Index, in: (1) the income tax rates; (2) the amount of standard deductions; (3) the amount of personal exemptions; (4) the amount of depreciation deductions; and (5) the adjusted basis for property. Makes cost-of- living adjustments in specified United States savings bonds and certificates and on other obligations of the United States.
Bill· HRH.R. 16412 (93rd)referred
United States · United States Congress · 13 August 1974
States that all returns made with respect to taxes imposed under the Internal Revenue Code are confidential and private records; but they may be opened to inspection by the following persons at such times and in such manner as the Commissioner of Internal Revenue by regulation may prescribe: (1) the taxpayer for whom the return was made or his attorney in fact; (2) officers and employees of the Internal Revenue Service, the Department of Justice for tax administration and economic stabilization purposes; (3) shareholders of record owning 1 percent or more of the outstanding stock of any corporation; (4) tax officials of the States; (5) the Committee on Ways and Means of the House of Representatives, the Finance Committee of the Senate, and the Joint Committee on Internal Revenue and Taxation; (6) the Attorney General, Assistant Attorneys General, and United States attorneys; and (7) officers and employees of executive departments and other establishments of the Federal Government upon written request of the head of such department or establishment naming the taxpayer whose return is to be inspected and provided that the inspection is necessary in the enforcement of Federal statutes. States that whenever a return is open to the inspection of any person, a certified copy thereof shall, upon request, be furnished to such person under regulations prescribed by the Commissioner of Internal Revenue who may prescribe a reasonable fee for furnishing such copy. Provides that all regulations issued by the Commissioner of Internal Revenue pursuant to this Act must have written approval of the Chief of Staff of the Joint Committee on Internal Revenue Taxation. States that this Act shall be effective upon enactment. Allows the Commissioner of Internal Revenue a period of ninety days after enactment to issue the regulations required herein.
Bill· HRH.R. 16404 (93rd)referred
United States · United States Congress · 13 August 1974
Cost-of-living Adjustment Act- Provides, under the Internal Revenue Code, for automatic cost-of-living adjustments, based on the Consumer Price Index, in: (1) the income tax rates; (2) the amount of standard deductions; (3) the amount of personal exemptions; (4) the amount of depreciation deductions; and (5) the adjusted basis for property. Makes cost-of- living adjustments in specified United States savings bonds and certificates and on other obligations of the United States.
Bill· HRH.R. 16370 (93rd)referred
United States · United States Congress · 12 August 1974
Directs the Clerk of the House of Representatives, the Sergeant at Arms of the House of Representatives, the Architect of the Capitol, and the Librarian of Congress (with respect to the employees of the United States Botanic Garden) to enter into agreements with Maryland, Virginia, and the District of Columbia for the withholding of State or District of Columbia income tax in the case of each Member and employee who is subject to such income tax and who voluntarily agrees to such withholding. States that such agreement shall be subject to review by the Committee on House Administration of the House of Representatives.
Bill· HRH.R. 16396 (93rd)referred
United States · United States Congress · 12 August 1974
Provides under the Internal Revenue Code, a tax deduction for dependent care expenses for married taxpayers who are employed part time, or who are students. Sets limits on such deductions Prohibits a reduction in such deduction (for dependent and household care services necessary for gainful employment) by the amount of income or payments received by an incapacitated spouse or dependent. (Amends 26 U.S.C. 214).
Bill· HRH.R. 16376 (93rd)referred
United States · United States Congress · 12 August 1974
Increases the exemption for the Federal estate tax from $60,000 to $200,000. Limits the aggregate deduction for value of property passed to a surviving spouse to $100,000, plus 50 percent of the value of the adjusted gross estate. Allows an estate executor to determine the value of any real property in an estate by its use for farmland, woodland, or scenic open space.
Bill· HRH.R. 16363 (93rd)referred
United States · United States Congress · 9 August 1974
Provides, under the Internal Revenue Code, for annual adjustments in the amount of personal exemptions and the amount of the standard deduction and the low-income allowance to reflect increases in the cost of living based on the percentage of annual increase in the consumer Price Index.
Bill· HRH.R. 16356 (93rd)referred
United States · United States Congress · 9 August 1974
Fiscal Integrity Act - Expresses the findings of Congress, including that allowing the continuation of policies which lessen the fiscal integrity of the Government is detrimental to the general welfare of the people and ought, therefore, to be ended. Title I: Revenue and Budget Outlays Control - Establishes for each fiscal year a revenue and budget outlays limit for the Government. States that no appropriation shall be made for any fiscal year by the Congress in excess of the revenue and budget outlays limit for such fiscal year. Provides that if the revenue of the Government exceeds the limit established, the excess shall be used for the payment of the public debt of the Government. States that the revenue and budget outlays limit shall be derived by multiplying the estimated aggregate national income for such fiscal year by the Federal revenue factor. Defines "Federal revenue factor". Title II: Monetary Supply Control - Directs the Board of Governors of the Federal Reserve System to insure that any rate of increase in the amount of currency in circulation and demand deposits is not greater than 1 1/4 percent per quarter fiscal year. Title III: Fiscal Disclosure - States that a bill or joint resolution introduced in either House of Congress or received by it from the other House shall be printed only when there appears at the bottom of the first page a fiscal note. Requires such fiscal note to state the amounts estimated to be the direct and indirect costs likely to be incurred or the direct and indirect savings likely to be achieved in carrying out the provisions of such bill or joint resolution in the fiscal year in which it is introduced or received and in each of the five fiscal years following such fiscal year, or for the authorized duration of any program authorized by such bill or joint resolution if less than five years, except that in the case of measures affecting revenue, the fiscal note shall state only the estimate of change in revenues for a one-year period. States that a copy of each such bill or joint resolution shall be transmitted immediately to the instrumentality of Government which will carry out its provisions.
Bill· HRH.R. 16355 (93rd)referred
United States · United States Congress · 9 August 1974
Property Tax Relief and Reform Act - Title I: Findings and Purpose - Enumerates the findings of Congress and declares the general purposes of this Act to be to: (1) provide for a program of assistance to State governments in reforming their real property tax laws; and (2) provide relief from real property taxes for low-income individuals. Title II: The Office of Property Tax Relief and Reform - Establishes, within the Department of the Treasury, the Office of Property Tax Relief and Reform to administer the real property tax relief and reform programs established under this Act. Provides that the Office be headed by a Director, to be appointed by the President. Sets forth the functions of the Office, including: (1) administering property tax relief and reform programs; developing compatible fiscal and administrative systems of property taxation among Federal, State and local governments; (2) acting as a clearinghouse of information for State and local governments with respect to the Federal programs affecting the administration of property taxes; (3) providing technical and training assistance to States; (4) providing financial assistance for special experimental programs in the administration of property tax laws; and (5) evaluating all Federal efforts in the areas of property tax relief and reform; and (6) reviewing Federal laws applicable to or having an effect on property taxes. Title III: Real Property Tax Relief for Low-Income Individuals - Authorizes the Office to make grants to States which operate a qualified program of real property tax relief. Requires a State program, to qualify for such aid, to provide relief to both homeowners and renters of residential property (including apartments) which meets minimum standards specified in this Act. Empowers the Director to reduce the amount of the payments to a State unless the State has substantially implemented the reforms and complied with the guidelines of titles IV and V of this Act. Title IV: Reform of Property Tax Administration; Disclosure, Access, and Appeal - Requires a State to publish the assessment-sales ratio of specified classifications of residential, commercial, industrial and vacant property for each taxing jurisdiction within the State. Stipulates that a State program must provide a real property assessment appeal procedure for taxpayers. Requires a State to provide public access to real property tax data, including a separate listing of all tax-exempt real property assessments. Authorizes loans to States for the purposes of fulfilling the requirements of this title. Title V: Reform of Property Tax Administration; Uniform Assessment Practice - Requires that a State program shall provide for: (1) the certification of professionally qualified officials for assessing and appraising property; (2) training such officials; (3) the sharing of the cost of assessment personnel by taxing jurisdictions which lack the resources to maintain such personnel separately; (4) the compiling of maps to disclose the location of property and improvements and identification of ownership of such property; and (5) the determination of (a) the degree to which State taxes on residential personal property, commercial inventories, farm personal property, personal holdings of bank deposits, and securities and other financial assets are uniformly enforced and (b) the cost of administering such taxes. Authorizes the Office to make loans to qualifying State programs for the purposes of carrying out this title. Title VI: Federal Assistance to Training and Technical Programs - Provides that the Office shall grant assistance to States for the training of real property tax assessment and appraisal personnel. Authorizes the Office to develop, jointly with States, and provide grants for, special experimental programs to improve the administration of property tax laws. Title VII: Miscellaneous: Conditions of Grants and Loans - Provides that the Director shall establish standards for the qualification of firms engaged in providing property appraisal services to State and local governments, and shall certify any such firm which meets those standards. Authorizes appropriations to the Office of such sums as may be necessary for the purposes of carrying out the provisions of this Act (other than title III and other than the grant and loan programs authorized by titles IV and V) for the fiscal year 1974, and for each of the succeeding nine fiscal years.
Bill· HRH.R. 16330 (93rd)referred
United States · United States Congress · 8 August 1974
Local Fiscal Assistance Act - Eliminates provisions relating to assistance payments to State governments from the State and Local Fiscal Assistance Act. Requires such payments to local governments on a quarterly basis. Changes the name of the fund in such Act to the Local Government Fiscal Assistance Trust Fund. Authorizes appropriations to such fund for fiscal years 1975 through December 31, 1978; and such sums as are necessary for advance payments to local governments for critical needs. Changes the definition of "entitlement period" to include the time from January 1, 1975, through December 31, 1978.
Bill· HRH.R. 16331 (93rd)referred
United States · United States Congress · 8 August 1974
Makes a supplemental appropriation of $187,500 for the Department of Health, Education, and Welfare for fiscal year 1975, to provide funds to conduct a study of the effects of the red tide on human health.
Resolution· HRESH.Res. 1304 (93rd)passed
United States · United States Congress · 8 August 1974
Provides that upon the adoption of this resolution it shall be in order to move that the House resolve itself into the Committee of the Whole House on the State of the Union for the consideration of the bill (H.R. 5529) to amend the National Traffic and Motor Vehicle Safety Act of 1966 to authorize appropriations for the fiscal years 1974, 1975, and 1976, to provide for the recall of certain defective motor vehicles without charge to the owners thereof, and for other purposes. States that after general debate, which shall be confined to the bill and shall continue not to exceed one hour, to be equally divided and controlled by the chairman and ranking minority member of the Committee on Interstate and Foreign Commerce, the bill shall be read for amendment under the five-minute rule. Requires that it shall be in order to consider the amendment in the nature of a substitute recommended by the Committee on Interstate and Foreign Commerce now printed in the bill as an original bill for the purpose of amendment under the five-minute rule, and said substitute shall be read for amendment by titles instead of by sections. Stipulates that, at the conclusion of such consideration, the Committee shall rise and report the bill to the House with such amendments as may have been adopted, and any Member may demand a separate vote in the House on any amendment adopted in the Committee of the Whole to the bill or to the committee amendment in the nature of a substitute. Provides that the previous question shall be considered as ordered on the bill and amendments thereto to final passage without intervening motion except one motion to recommit with or without instructions. States that after the passage of H.R. 5529, the Committee on Interstate and Foreign Commerce shall be discharged from the further consideration of the bill S. 355, and it shall then be in order in the House to move to strike out all after the enacting clause of the said Senate bill and insert in lieu thereof the provisions contained in H.R. 5529 as passed by the House.
Bill· HRH.R. 16302 (93rd)referred
United States · United States Congress · 7 August 1974
Allows an income tax credit under the Internal Revenue Code equal to the amount, not covered by insurance or otherwise, for medical and dental expenses during the taxable year. Prescribes limits for such tax credit. Allows a carryover to the next year of unused credits. Allows a credit to a decedent's estate for such expenses if claimed within a year of death. Includes specified medical insurance within expenses as defined by this Act. Disallows expenses for dependent care, claimed as a deduction, from such definition.
Bill· HRH.R. 16309 (93rd)referred
United States · United States Congress · 7 August 1974
Provides an additional income tax exemption under the Internal Revenue Code for a taxpayer, his spouse, or his dependent who is disabled.
Bill· HRH.R. 16301 (93rd)referred
United States · United States Congress · 7 August 1974
Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.
Bill· HRH.R. 16298 (93rd)referred
United States · United States Congress · 6 August 1974
Directs the Clerk of the House of Representatives, the Sergeant at Arms of the House of Representatives, the Architect of the Capitol, and the Librarian of Congress (with respect to the employees of the United States Botanic Garden) to enter into agreements with Maryland, Virginia, and the District of Columbia for the withholding of State or District of Columbia income tax in the case of each Member and employee who is subject to such income tax and who voluntarily agrees to such withholding. States that such agreement shall be subject to review by the Committee on House Administration of the House of Representatives.
Bill· HRH.R. 16294 (93rd)referred
United States · United States Congress · 6 August 1974
Fiscal Integrity Act - Expresses the findings of Congress, including that allowing the continuation of policies which lessen the fiscal integrity of the Government is detrimental to the general welfare of the people and ought, therefore, to be ended. Title I: Revenue and Budget Outlays Control - Establishes for each fiscal year a revenue and budget outlays limit for the Government. States that no appropriation shall be made for any fiscal year by the Congress in excess of the revenue and budget outlays limit for such fiscal year. Provides that if the revenue of the Government exceeds the limit established, the excess shall be used for the payment of the public debt of the Government. States that the revenue and budget outlays limit shall be derived by multiplying the estimated aggregate national income for such fiscal year by the Federal revenue factor. Defines "Federal revenue factor". Title II: Monetary Supply Control - Directs the Board of Governors of the Federal Reserve System to insure that any rate of increase in the amount of currency in circulation and demand deposits is not greater than 1 1/4 percent per quarter fiscal year. Title III: Fiscal Disclosure - States that a bill or joint resolution introduced in either House of Congress or received by it from the other House shall be printed only when there appears at the bottom of the first page a fiscal note. Requires such fiscal note to state the amounts estimated to be the direct and indirect costs likely to be incurred or the direct and indirect savings likely to be achieved in carrying out the provisions of such bill or joint resolution in the fiscal year in which it is introduced or received and in each of the five fiscal years following such fiscal year, or for the authorized duration of any program authorized by such bill or joint resolution if less than five years, except that in the case of measures affecting revenue, the fiscal note shall state only the estimate of change in revenues for a one-year period. States that a copy of each such bill or joint resolution shall be transmitted immediately to the instrumentality of Government which will carry out its provisions.
Bill· HRH.R. 16293 (93rd)referred
United States · United States Congress · 6 August 1974
Directs the Clerk of the House of Representatives, the Sergeant at Arms of the House of Representatives, the Architect of the Capitol, and the Librarian of Congress (with respect to the employees of the United States Botanic Garden) to enter into agreements with Maryland, Virginia, and the District of Columbia for the withholding of State or District of Columbia income tax in the case of each Member and employee who is subject to such income tax and who voluntarily agrees to such withholding. States that such agreement shall be subject to review by the Committee on House Administration of the House of Representatives.
Bill· HRH.R. 16292 (93rd)referred
United States · United States Congress · 6 August 1974
Directs the Clerk of the House of Representatives, the Sergeant at Arms of the House of Representatives, the Architect of the Capitol, and the Librarian of Congress (with respect to the employees of the United States Botanic Garden) to enter into agreements with Maryland, Virginia, and the District of Columbia for the withholding of State or District of Columbia income tax in the case of each Member and employee who is subject to such income tax and who voluntarily agrees to such withholding. States that such agreement shall be subject to review by the Committee on House Administration of the House of Representatives.
Bill· HRH.R. 16270 (93rd)referred
United States · United States Congress · 5 August 1974
Provides for increases in the standard deduction and low income allowances under the Internal Revenue Code. Allows a limited income exemption for self-employment income up to the sum of the amount of personal exemptions to which the taxpayer is entitled plus a low-income allowance of $1,800 per household, or $900 in the case of a married individual filing a separate return. Prescribes the method of computation of the annual limited income exclusion. Requires an employee claiming an exemption under this Act to certify to his employer and to the Secretary of the Treasury the information necessary for computation of the limited income exclusion.
Bill· HRH.R. 16258 (93rd)referred
United States · United States Congress · 5 August 1974
Provides, under the Internal Revenue Code, that the noncash remuneration of specified workers on fishing boats shall be treated as self-employment income. (Amends 26 U.S.C. 312(b))
Bill· HRH.R. 16254 (93rd)referred
United States · United States Congress · 5 August 1974
Permits charitable contributions to the United Nations to be deducted for income tax purposes under the Internal Revenue Code. (Amends 26 U.S.C. 170 (c)91)).
Bill· HRH.R. 16272 (93rd)referred
United States · United States Congress · 5 August 1974
Excludes from taxable income, under the Internal Revenue Code of 1954, interest received on deposits in thrift institutions.
Bill· HRH.R. 16247 (93rd)referred
United States · United States Congress · 2 August 1974
Increases the exemption for the Federal estate tax from $60,000 to $200,000. Limits the aggregate deduction for value of property passed to a surviving spouse to $100,000, plus 50 percent of the value of the adjusted gross estate. Allows an estate executor to determine the value of any real property in an estate by its use for farmland, woodland, or scenic open space.
Bill· HRH.R. 16226 (93rd)referred
United States · United States Congress · 1 August 1974
Provides, under the Internal Revenue Code, an exemption from income taxation for condominium housing associations and homeowners' associations and imposes a tax on the unrelated business income of such organizations.
Bill· HRH.R. 16196 (93rd)referred
United States · United States Congress · 31 July 1974
Excludes from gross income, under the Internal Revenue Code, the interest on deposits in qualified savings institutions and credit unions. Limits such tax exclusion to $400 for an individual during a calendar year.
Bill· HRH.R. 16177 (93rd)referred
United States · United States Congress · 31 July 1974
Provides, under the Internal Revenue Code, a basic $5,000 exemption from income tax, in the case of an individual or a married couple, for amounts received as annuities, pensions, or other retirement benefits.
Bill· HRH.R. 16199 (93rd)referred
United States · United States Congress · 31 July 1974
Prohibits, under the Internal Revenue Code, the limitation of the grants awarded by a private foundation to a fixed percentage of the number of applicants for such grants. (Amends 26 U.S.C. 4945 (g)).
Bill· HRH.R. 16171 (93rd)referred
United States · United States Congress · 30 July 1974
Payments in Lieu of Taxes Act - States that, within two years after the date of enactment of this Act, each county shall elect whether it wishes to proceed under the terms of this Act to receive payments from the Federal Government equal to the real property taxes otherwise due from public lands within such county, or to continue to receive whatever payments such county is entitled to receive under any existing applicable Federal law providing for Federal payments for such county similar to those available under this Act or for payment to such county of part of the revenue derived from such public land. Establishes procedures for the appraisal of public lands. Provides that when any county within a State has elected to proceed under the terms of this Act, there shall be established for that State a State board of appraisal appeal. Provides that each board shall consider and decide any appeal from a county within the State relating to the appraisal of public land within such county. States that decisions of the board shall not be subject to judicial review unless arbitrary or capricious. States that, begining in the first complete fiscal year after the acceptance of such appraisal by both the county involved and the Administrator, the Secretary of the Treasury is authorized to pay annually to the State in which such county is located an amount equivalent to the State, county, and local real property taxes on public lands within such county, based on the tax rate applicable to similar private lands at the value arrived at under the appraisal conducted under this Act. Stipulates that nothing in this Act shall interfere with the right of State or local governments to levy possessory interests taxes on private owners of improvements made by private users on public lands. Authorizes to be appropriated such sums as may be necessary to administer this Act and to make the payments authorized by it.
Bill· SS. 3826 (93rd)referred
United States · United States Congress · 29 July 1974
Provides, under the Internal Revenue Code, that a married individual who files a separate return shall be taxed on his or her earned income at the same rate as an unmarried individual.
Bill· SS. 3823 (93rd)referred
United States · United States Congress · 29 July 1974
Permits the Governor of Louisiana to set aside up to 10 percent of the payments received by the State government under the State and Local Fiscal Assistance Act of 1972 for use solely for local law enforcement purposes.
Bill· HRH.R. 16146 (93rd)referred
United States · United States Congress · 29 July 1974
Excludes from Federal income taxation specified nonprofit corporations composed of tax-exempt credit unions.