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Law· HJRESH.J.Res. 412 (96th)open
United States · United States Congress · 9 October 1979
Appropriates such amounts as may be necessary in fiscal year 1980 to continue Federal activities for which specified appropriations Acts will not have been enacted prior to September 30, 1979. Funds such activities in the same manner and amounts provided for in such Acts. States that if the Senate and the House of Representatives have both passed appropriations for an activity in differing amounts, the lesser amount or more restrictive authority shall apply in the continuing appropriations. Declares that if an appropriations Act has passed only one House or if an activity has been funded in only one version of an Act passed by both Houses, the continuing appropriations shall not exceed the rate provided by the one House or the current rate, whichever is lower. Provides continuing appropriations for activities conducted in fiscal year 1979 and provided for in the Department of Defense Appropriation Act, 1979, at the current rate or the rate of the budget estimate, whichever is lower. Continues appropriations for the Legislative Branch at the rate provided in the Legislative Branch Appropriation Act, 1980, (H.R. 4390) as reported June 7, 1979. Limits pay increases to five and one-half percent notwithstanding other provisions of law. States that for the purpose of providing continuing appropriations, H.R. 4390 will be treated as appropriating sums for salaries and expenses of the Office of Technology Assessment and the General Accounting Office and funds for mail costs under the heading for Joint Items. Prohibits continuing appropriations for the Legislative Branch from being used to remodel the gallery in Statutory Hall in the Capitol. Appropriates sums at the current rate to continue the breeder reactor demonstration project or project alternative of the Department of Energy. Appropriates such sums as may be necessary to continue specified activities which were conducted in fiscal year 1979 but have not been provided for in fiscal year 1980. Establishes the funding rate for continuing appropriations to the Department of State for migration and refugee assistance. Makes continuing appropriations for the Department of Transportation at the current rate or the rate of the budget estimate, whichever is lower. Authorizes the Panama Canal Commission to incur obligations at the rate provided for in H.R. 4440 as reported on June 13, 1979. Provides continuing appropriations for the activities of the Federal Inspector for the Alaska Gas Pipeline at a rate not to exceed 35 percent of the 1980 budget estimate. Makes continuing appropriations for activities provided for in the Department of Housing and Urban Development - Independent Agencies Appropriation Act, 1980, (H.R. 4394), at the rate adopted by the House of Representatives and the Senate on September 27 and 28, 1979, respectively. Permits such appropriations to be used to finance activities which were not funded in fiscal year 1979. Declares that the appropriations contained in this resolution shall remain available for expenditure until: (1) enactment of an appropriation for any activity provided for in this resolution; (2) enactment of the applicable appropriations Act without any provision for such an activity; or (3) November 20, 1979, whichever first occurs. Authorizes the use of appropriations contained in this resolution without regard to the time limitations for submission and approval of apportionments required by law. Prohibits the use of appropriations to initiate or resume any activity for which funds were not available in fiscal year 1979. Authorizes the apportionment of appropriated funds on a deficiency basis indicating the need for a supplemental appropriation to the extent necessary to permit payment of pay increases granted pursuant to law. Prohibits the use of funds made available in fiscal year 1980 to the Department of Defense - Civil, Department of the Army, Corps of Engineers, in connection with the acquisition of land or easements near the four lake projects in the Yazoo Basin, Mississippi, pending the submission to Congress of the plan specified in the conference report accompanying H.R. 4388. Authorizes the use of continuing appropriations by the Appalachian Regional Commission at the rate provided in the applicable appropriation Act, notwithstanding the termination date of the Appalachian Regional Development Act of 1965. Increases the allowances for administrative and clerical expenses of each Senator from Minnesota and Texas in connection with the increase in population of such States. Makes continuing appropriations available to the Sergeant at Arms and Doorkeeper of the Senate for travel and administrative expenses. Requires that travel and transportation expenses of the executive branch be reduced by $500,000,000 below the amount proposed in the President's budget. Stipulates that funds available under the Department of Justice Appropriation Act, Fiscal Year 1979, for United States prisoners may be used to improve substandard State facilities holding Federal prisoners and that such authority shall be available for obligations incurred from September 26, 1979. States that funds appropriated for capital outlays in connection with the construction of the campus of the University of the District of Columbia shall expire on September 30, 1979, unless such funds have been obligated. Authorizes the Secretary of Transportation to guarantee certificates issued by the trustees of certain railroads which have filed petitions for reorganization without regard to provisions of law limiting such authority. Prohibits the use of appropriations to reorganize or consolidate the Alaska Railroad Office of Chief Counsel, the Office of Real Estate, or the Office of Financial Planning. Ratifies all obligations incurred in anticipation of appropriations and authority provided in this resolution.
Bill· HJRESH.J.Res. 413 (96th)referred
United States · United States Congress · 9 October 1979
Appropriates such amounts as may be necessary in fiscal year 1980 to continue the activities provided for in the Departments of Labor, and Health, Education, and Welfare and Related Agencies Appropriation Act, 1980, (H.R. 4389) at the rate of operations and manner adopted by the House of Representatives on August 2, 1979. Declares that the appropriations contained in this resolution shall remain available for expenditure until: (1) enactment of an appropriation for any activity provided for in this resolution; (2) enactment of the applicable appropriations Act without any provision for such an activity; or (3) September 30, 1980, whichever first occurs. Authorizes the use of appropriations contained in this resolution without regard to the time limitations for submission and approval of apportionments required by law. Directs that expenditures made pursuant to this resolution be charged to the applicable fund when budget authority for such expenditures is enacted. Ratifies all obligations incurred in anticipation of the appropriations and authority provided in this resolution.
Resolution· HRESH.Res. 441 (96th)passed
United States · United States Congress · 9 October 1979
Sets forth the rule for the consideration of H.J. Res. 412 (Continuing appropriations).
Resolution· HRESH.Res. 442 (96th)passed
United States · United States Congress · 9 October 1979
Sets forth the rule for the consideration of H.J. Res. 413 (Continuing appropriations).
Law· HRH.R. 5505 (96th)open
United States · United States Congress · 5 October 1979
Tax Administrative Provisions Revision Act of 1979 - Amends the Internal Revenue Code to provide for the payment of interest to an individual whose property is w wrongfully seized by the Internal Revenue Service. Repeals the requirement that an individual who transfers property with a fair market value in excess of $50,000 to a tax-exempt organization must file an informational return detailing such transaction. Repeals the additional 25 percent tax penalty (jeopardy assessments) for taxpayers who attempt to evade payment of taxes by removing their property from the country or by concealing it. Repeals provisions which require corporations to file informational returns with respect to stock options granted to their employees. Conforms the due dates for gift tax returns when an extension for filing the donor's income tax return is granted. Sets the payment date for excise tax on the sale of certain sporting goods at the close of the quarter immediately following the quarter in which such goods are sold. Permits domestic wines to be used by officials of foreign governments and their families free of the excise tax on alcoholic beverages. Grants tire manufacturers excise tax credits or refunds on tread rubber where tax-paid tread rubber is: (1) destroyed or wasted in the recapping or retreading process process; (2) used in the recapping or retreading of tires the sales of which are later adjusted under a warranty or guarantee; or (3) used in the recapping or retreading of tires which are exported, used, or sold as supplies for vessels or aircraft, sold to State or local governments, or sold to nonprofit educationall institutions. Provides for excise tax credits or refunds on retreaded tires which have been sold by a subsequent manufacturer on or in connection with another article manufactured by him, and exported or sold for specified purposes. Provides that the period for allowing a credit or making a refund for tire or tread rubber tax filed as a result of a warranty or guarantee adjustment shall be one year from the date on which the adjustment is made. Provides that tires which are exported from the United States, recapped, or retreaded outside the United States and imported into the United States shall be taxed as imported tread rubber to the extent that such rubber is used in the recapping or retreading. Grants an additional one year suspension of the 18 month holding requirement for the deferral of gain on the sale of a principal residence in the case of members of the armed services stationed overseas or required to reside in Government-owned quarters. Provides that an auxiliary of a tax-exempt fraternal beneficiary society shall not lose its tax-exempt status on the basis of religious discrimination, if such society limits its membership to the members of a particular religion.
Bill· SS. 1861 (96th)referred
United States · United States Congress · 4 October 1979
Amends the Internal Revenue Code to raise the age requirement for youths participating in the qualified cooperative education program from 16-19 to 16-20 for purposes of the targeted jobs tax credit.
Bill· SS. 1859 (96th)referred
United States · United States Congress · 4 October 1979
Amends the Internal Revenue Code with respect to the method of valuing farms for estate tax purposes to provide that if there is no comparable land from which the average annual gross rental may be determined but there is comparable land from which the average net share rental may be determined, then the existing valuation formula shall be applied by substituting "average net share rental" for "average gross cash rental. Defines net share rental as the excess of: (1) the value of the produce received by the lessor of the land on which such produce is grown, over (2) the cash operating expenses of growing such produce which, under the lease, are paid by the lessor.
Bill· SS. 1854 (96th)referred
United States · United States Congress · 3 October 1979
Amends the Internal Revenue Code to treat income from certain spacecraft as income from sources within the United States, for purposes of the income tax.
Bill· SS. 1846 (96th)referred
United States · United States Congress · 1 October 1979
Amends the Internal Revenue Code to require the exclusion from the gross income of an individual up to $250 ($500 in the case of a joint return) of the aggregate amount of dividends received from domestic corporations and interest or dividends on savings deposits or withdrawable savings accounts from a bank, a mutual savings bank, a savings and loan institution, or a credit union.
Bill· SS. 1831 (96th)referred
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to provide that the net operating loss carryover period for a taxpaying entity which ceases to be a real estate investment trust shall be the same as the net operating loss carryover period for an entity which continues to qualify as a real estate investment trust.
Bill· HRH.R. 5473 (96th)referred
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to restore the $20,000 exclusion from gross income (repealed by the Tax Reform Act of 1976) of income earned by U.S. citizens who are bona fide residents of a foreign country during a specified 17 month period. Repeals provisions added by the Tax Reform Act of 1976 which allow income tax deductions for various expenses related to living abroad.
Bill· HRH.R. 5468 (96th)referred
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to qualify for the residential energy credit solar energy property which is installed in a residence for the purpose of producing electricity.
Bill· HRH.R. 5460 (96th)referred
United States · United States Congress · 28 September 1979
Independent Contractor Tax Act of 1979 - Amends the Internal Revenue Code to specify standards for determining whether certain individuals qualify as independent contractors for purposes of social security taxation. Treats an individual as an independent contractor if such individual: (1) controls the total number and scheduling of his work hours; (2) pays fair rental value for business premises at which he performs more than one half of his services; (3) earns income based upon sales or output rather than upon number of hours worked, or as a result of business investments (other than in vehicles, tools, samples, etc.) which enable him to perform services for which he is remunerated; and (4) performs services pursuant to a prior written contract which specifies that the individual performing services is not an employee for purposes of social security and unemployment taxation and which provides written notice to such individual of his responsibility with respect to payment of income and self-employment taxes. Requires the recipient of services performed by an individual claiming independent contractor status to file returns disclosing payments made to such individual. Provides that the criteria established by this Act shall not be applicable to certain employees (i.e. agent-drivers, commission-drivers, full-time life insurance salesmen, home workers, and traveling or city salesmen) who are statutorily designated as employees for purposes of social security taxation. Provides that the failure of an individual claiming independent contractor status to meet the criteria established by this Act shall not create an inference that such an individual is an employee or that the recipient of his services is an employer. Limits the applicability of the criteria established by this Act to questions of employment status arising under the Federal Insurance Contributions Act, the Federal Unemployment Tax Act, self-employment tax provisions, and withholding requirements under the Internal Revenue Code. Requires recipients of services performed by an independent contractor to file an information return with respect to payments made for such services in excess of $600 for the taxable year. Requires businessmen who make direct sales of consumer goods to individuals for resale on a buy-sell basis or a deposit-commission basis to file information returns for sales in excess of $3,000. Requires individuals who file such information returns to furnish written statements to persons with respect to whom such information is reported which indicate the amount of payment reported. Provides penalties for failure to furnish information returns or statements. Requires recipients of services performed by an independent contractor to withhold ten percent of the payment made for such services. Sets forth exceptions to such withholding requirement. Provides a penalty for failure to comply with withholding requirements.
Bill· HRH.R. 5479 (96th)referred
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to allow a nonrefundable income tax credit for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides. Limits such credit to $1,000 for each aged dependent for the taxable year.
Bill· HRH.R. 5462 (96th)referred
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to exempt punchboard operators from the occupational tax on wagering. Defines "punchboard" as a board used in a type of wagering in which entitlement to a prize is determined by the punching or drawing of numbers or other symbols from holes or other receptacles of uniform size in such board.
Bill· HRH.R. 5459 (96th)referred
United States · United States Congress · 28 September 1979
Amends the Internal Revenue Code to allow an income tax deduction of up to $1,500 for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides.
Bill· HRH.R. 5421 (96th)referred
United States · United States Congress · 27 September 1979
Amends the Internal Revenue Code to exclude from gross income up to $500 of the interest earned on a savings account.
Bill· HRH.R. 5432 (96th)referred
United States · United States Congress · 27 September 1979
Carryover Basis Simplification Act of 1979 - Amends the Internal Revenue Code to revise the estate tax rules for determining the basis of carryover basis property in the hands of an individual acquiring such property from a decedent. Defines "carryover basis property" as any property which is acquired from or passed from a decedent who died after December 31, 1979, and which is not specifically excluded from the category of carryover basis property under the provisions of this Act. Provides that the basis of carryover basis property acquired from a decedent shall be its adjusted basis for purposes of determining gain immediately before the death of the decedent (initial basis), increased by the sum of the minimum basis adjustment and the death tax adjustment for such property (as defined by this Act). Requires the allocation of such adjustments among the carryover basis properties for purposes of the estate tax. Exempts from classification as carryover basis property: (1) assets of an estate which have a fair market value of $175,000 or less (the estate tax exemption amount); (2) property which was acquired from a decedent and sold before the decedent's death; (3) income in respect of a decedent; and (4) life insurance proceeds. Permits the executor of an estate to elect to exclude from carryover basis property classification, tangible personal property which the decedent held as a capital asset and which has a fair market value of $25,000 or less and any interest in a closely held business as family farm which has a fair market value of $1,000,000 or less. Provides for a "fresh start adjustment" for marketable securities to increase the adjusted basis of such securities to their fair market value on December 31, 1976. Provides for a similar adjustment to all other types of property. Permits only one fresh start adjustment for carryover basis property. Treats preferred stock which was issued and outstanding on December 31, 1976, as marketable securities for purposes of the adjustment. Sets the fair market value of such preferred stock at its stated redemption price on such date excluding any dividends in arrears. Permits the holding period, bases, and fair market values of various types of property to be determined on a class basis rather than on an individual item basis. Provides that the value of improvements to a decedent's principal residence with the decedent held for a period beginning after December 31, 1976, shall be deemed to be not less than $250. Sets the decedent's basis in carryover basis property at fair market value as of the date such property was acquired by the decedent where facts necessary to determine the decedent's basis immediately before death are unavailable. Sets forth procedures for a binding determination of the initial basis of carryover basis property. Permits an executor of an estate to request from the Secretary of the Treasury an audit of the initial basis of any carryover basis property shown on an estate tax return. Provides for judicial review of the Secretary's determination in Tax Court unless the Secretary and the executor have entered into an agreement as to the initial basis of any carryover basis property. Provides penalties for negligent or fraudulent overstatement of the initial basis of carryover basis property. Provides for carryover basis treatment of property received by a beneficiary in a distribution from an estate or trust, with adjustments for gain or loss recognized to the estate or trust on the distribution. Revises the method for computing the estate tax deduction from amounts includible in gross income as income in respect of a decedent. Provides for an adjustment to the basis of gifts made after December 31, 1976, based upon the net appreciation in value of all appreciated taxable gifts made by a donor during a particular calendar quarter after such date. Exempts gifts which are includible in the gross estate of the donor or which have been disposed of prior to the donor's death from such gift tax adjustment. Revises basis adjustment rules for generation-skipping transfers after June 11, 1976. Permits the application of capital loss deductions which are carried over from the decedent's last taxable year to the gross estate of such decedent. Restores capital gain tax treatment to the sale of inherited artwork. Revises rules for the extension of time for payment of estate tax where an estate consists largely of interests in a closely held business. Provides that a taxpayer shall have met the material participation requirements for purposes of the estate tax valuation rules for family farm and business property if the decedent, or a spouse of the decedent, evidences material participation in the operation of the farm or business during periods aggregating 15 year or more.
Bill· HRH.R. 5435 (96th)referred
United States · United States Congress · 27 September 1979
Research and Development Incentive Act of 1979 - Amends the Internal Revenue Code to extend the investment tax credit to research and experimental expenditures in connection with the taxpayer's trade or business.
Resolution· HRESH.Res. 440 (96th)open
United States · United States Congress · 27 September 1979
Waives certain points of order in the consideration of the conference report on H.J. Res. 404 (Continuing appropriations).
Bill· SS. 1825 (96th)referred
United States · United States Congress · 26 September 1979
Estate Tax Adjustment Act of 1979 - Amends the Internal Revenue Code to increase the unified credits against the estate and gift taxes from $47,000 to $70,700, with increased phase-in amounts for 1979 and 1980. Increases from $175,000 to $250,000 the minimum gross estate necessary to impose on the executor of a United States citizen or resident the duty to make an estate tax return.
Bill· SS. 1826 (96th)referred
United States · United States Congress · 26 September 1979
Requires the treatment of property losses resulting from Dutch Elm disease as casualty losses for deductions from gross income with respect to the individual income tax under the Internal Revenue Code.
Bill· HRH.R. 5409 (96th)referred
United States · United States Congress · 26 September 1979
Amends the Internal Revenue Code to provide that the standard mileage rate used in computing the charitable deduction for expenses incurred in the operation of a motor vehicle shall be the same as the standard mileage rate established by the Secretary of the Treasury for the business related deduction.
Bill· HRH.R. 5408 (96th)referred
United States · United States Congress · 26 September 1979
Amends the Internal Revenue Code with respect to the method of valuing farms for estate tax purposes to provide that if there is no comparable land from which the average annual gross rental may be determined but there is comparable land from which the average net share rental may be determined, then the existing valuation formula shall be applied by substituting "average net share rental" for "average gross cash rental. Defines net share rental as the excess of: (1) the value of the produce received by the lessor under a lease of the land on which such produce is grown, over (2) the cash operating expenses of growing such produce which, under the lease, are paid by the lessor.
Bill· SS. 1820 (96th)referred
United States · United States Congress · 25 September 1979
Amends the Internal Revenue Code with respect to tax-exempt private foundations to exempt from the excise tax on self-dealing the leasing of office space to such a foundation by a disqualified person for use by the foundation in a building whose other tenants are not disqualified persons, if: (1) such leasing is pursuant to a binding lease in effect on October 9, 1969, or pursuant to renewals of such a lease; (2) the original execution of such lease was not a prohibited transaction; and (3) the space is made available to the foundation on a basis no less favorable than it would be if the transaction were at arm's length.
Bill· SS. 1819 (96th)referred
United States · United States Congress · 25 September 1979
Industrial Energy Conservation Incentive Tax Act - Amends the Internal Revenue Code to allow a credit against income tax in an amount equal to a specified percentage of a qualified investment in certain depreciable industrial energy conservation property. Defines industrial energy conservation property as any such property used as a modification to or a replacement of all or part of an existing productive facility, item of equipment, or process located in the United States, if such modification or replacement: (1) results in the utilization of less energy per unit of production; (2) does not increase the total amount of oil and natural gas consumed per unit of production; and (3) results in an aggregate annual decrease in energy consumption of 15,000 or more barrels of oil equivalent per year. Sets the applicable percentage for such credit at the smaller of: (1) 30 percent; or (2) the percentage necessary to enable the taxpayer to realize a real rate of return on investment in the property, over its useful life, of 15 percent. Reduces such credit to zero if the conservation price of such investment (the cost in dollars per barrel of oil equivalent of producing the energy savings properly attributable to the creditable replacement or modification) exceeds the alternative energy cost equivalent of a barrel of oil (stipulated as $32, increased annually to reflect an increment of increased prices for foreign oil). Makes special rules for application (or non-application) of such credit to public utility property, property financed by public funds or by industrial development bonds, industrial conversion-to-coal projects, and other property. Requires a recomputed increase or reduction of such credit on the basis of actual costs and operating data and the alternative energy cost equivalent as of the close of the first taxable year beginning after the property has been placed in service for more than six months.
Bill· SS. 1811 (96th)referred
United States · United States Congress · 25 September 1979
Amends the Internal Revenue Code to allow a credit against the individual income tax in the amount of $5 for each form or document which a small business is required by Federal law to file with the United States Government or any agency or establishment thereof during the taxable year.
Law· HRH.R. 5391 (96th)open
United States · United States Congress · 25 September 1979
Chapter 42 Second Tier Tax Correction Act of 1979 - Amends the Internal Revenue Code to eliminate the correction period, thus shortening the time for determining the amount of second tier taxes payable for failure to correct specified prohibited transactions, discountenanced conditions, or other taxable events, or for failure to meet minimum standards, with respect to certain private tax-exempt foundations, black-lung benefit trusts, and qualified pension plans. Requires nonassessment of, abatement of any assessed, or refund or crediting of any collected second tier taxes if any such specified taxable event is corrected during the prescribed period. Provides for a supplemental court proceeding to determine whether a taxable event was so corrected, if any court determination of second tier tax liability has become final. Requires suspension of any levy or proceeding in court for collection of the second tier tax, if within 90 days after its assessment the first tier tax is paid in full and a claim for refund of the amount so paid is filed. Suspends the running of the statute of limitations for the period of such collection suspension. Ends such collection suspension period 90 days after denial of a refund claim if the person against whom a second tier tax was assessed fails to file suit for such refund.
Law· HRH.R. 5386 (96th)open
United States · United States Congress · 25 September 1979
Amends the Higher Education Act of 1965 to promulgate formulas by which any reduction in the 1980 appropriations for community service and continuing education programs will be borne equally by all States.
Law· HRH.R. 5380 (96th)open
United States · United States Congress · 25 September 1979
Provides that the authority contained in the Department of Justice Appropriation Authorization Act, Fiscal Year 1979, shall continue in effect until the earlier of: (1) the effective date of a general authorization Act; or (2) the end of the sixtieth day after the date of enactment of this Act.
Bill· HRH.R. 5385 (96th)referred
United States · United States Congress · 25 September 1979
Permits the retroactive change in accounting methods for life insurance companies which was authorized by a 1978 Internal Revenue Service Revenue Procedure to apply to taxable years prior to 1977 and to taxable years in which a life insurance company qualifies under certain provisions of the Internal Revenue Code. Provides that a retroactive change will be permitted for such taxable years if application is made within 90 days of the enactment of this Act. Provides that refunds, credits, or deficiencies which result from a retroactive change of accounting methods for life insurance companies may be allowed or assessed within one year of the enactment of this Act.
Bill· HRH.R. 5396 (96th)referred
United States · United States Congress · 25 September 1979
Amends the Internal Revenue Code to exclude from gross income up to $250 ($500 in the case of a joint return) of interest income earned on a savings account in a financial institution. Specifies that such exclusion shall take effect in 1983 and provides for the exclusion of gradually increasing amounts of interest for taxable years beginning in 1980 through 1982. Excludes estates and trusts from eligibility for the tax exclusion. Increases the amount of the tax exclusion for dividends received by individuals to $150 in 1981, $200 in 1982, and $250 thereafter.
Bill· HRH.R. 5392 (96th)referred
United States · United States Congress · 25 September 1979
Delays for an additional two years the application to corporate taxpayers of the net operating loss carryover rules which were added by the Tax Reform Act of 1976.
Bill· HRH.R. 5384 (96th)referred
United States · United States Congress · 25 September 1979
Amends the Internal Revenue Code to provide that the maximum amount of living expenses which a Member of Congress may claim as an income deduction shall be equal to the Federal per diem rate multiplied by the number of days, but not in excess of 180, that Congress is in session. Specifies that the residence of a Congressman in the district which he represents shall be considered his home for purposes of the income tax deduction.
Bill· HRH.R. 5402 (96th)referred
United States · United States Congress · 25 September 1979
Amends the Internal Revenue Code to increase the unified tax credit for both estate and gift taxes from $47,000 to $155,800 over a five-year phase-in period from 1980 through 1984, with annual inflation adjustments.
Bill· HRH.R. 5394 (96th)referred
United States · United States Congress · 25 September 1979
Amends the Internal Revenue Code to allow an income tax deduction with respect to the amortization, based on a period of 12 months, of federally required property. Defines "federally required property" as any depreciable property which the taxpayer uses in connection with his business plant or facility, the installation of which is required by Federal or State law.
Bill· HJRESH.J.Res. 408 (96th)referred
United States · United States Congress · 25 September 1979
Constitutional Amendment - Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the total amount of revenue received by the United States during such fiscal year, except in time of war declared by the Congress. Allows the suspension of this Amendment by a joint resolution approved by a vote of three-fifths of the Members of each House of the Congress and approved and signed by the President, or by a vote of two-thirds of the Members of each House of the Congress. Requires tax rates to be reduced to offset the effects of inflation. Establishes a procedure for the approval of bills or joint resolutions affecting taxes.
Resolution· HRESH.Res. 427 (96th)passed
United States · United States Congress · 25 September 1979
Sets forth the rule for the consideration of S. Con. Res. 36 (Congressional Budget revision).
Resolution· HRESH.Res. 426 (96th)passed
United States · United States Congress · 25 September 1979
Waives certain points of order in the consideration of H.R. 5359 (Department of Defense appropriations).
Bill· HRH.R. 5368 (96th)referred
United States · United States Congress · 21 September 1979
Amends the Internal Revenue Code to treat authorized copies of an income tax return preparer's signature as the original signature of such return preparer for purposes of the requirement that such preparers sign tax returns which they prepare for compensation.
Bill· HRH.R. 5364 (96th)referred
United States · United States Congress · 21 September 1979
Amends the Internal Revenue Code to provide that the exemption from excise tax on gasoline mixed with alcohol shall be equal to ten percent for each one percent, up to ten percent, of alcohol in such mixture. Makes such exemption permanent. Directs the Secretary of the Treasury to issue regulations permitting gasoline or kerosene to be used to denature alcohol produced for fuel purposes. Authorizes appropriations to reimburse the Highway Trust Fund for any loss of revenue resulting from the exemption provided by this Act.
Bill· HRH.R. 5370 (96th)referred
United States · United States Congress · 21 September 1979
Amends the Internal Revenue Code to deny a tax exclusion of the interest on State and local mortgage revenue bonds. Defines "mortgage revenue bonds" as bonds which are issued to provide funding for mortgages on owner-occupied residences. Permits a tax exclusion for interest on bonds which are issued by a State agency: (1) which has been authorized by the State legislature to issue bonds to finance housing for a class of individuals specifically designated by the legislature; (2) the officers of which are appointed on the State level; (3) which is required to report to the State legislature at least annually; and (4) which maintains a full-time staff.
Bill· HRH.R. 5362 (96th)referred
United States · United States Congress · 21 September 1979
Amends the Internal Revenue Code to allow individuals a refundable income tax credit equal to one-third of the total cost during the taxable year of heating oil purchased by such individuals for use in a residence for residential purposes. Limits the dollar amount of such credit to $400 for the taxable year. Reduces the amount of such credit by one percent of the amount by which the taxpayer's adjusted gross income exceeds $20,000. Provides for the termination of the credit for taxable years ending after December 31, 1983.
Bill· HRH.R. 5367 (96th)referred
United States · United States Congress · 21 September 1979
Amends the Internal Revenue Code to reduce from ten to six the maximum number of operating crewmen of a fishing boat necessary to qualify such crewmen as employees for purposes of withholding and social security taxes.
Bill· HRH.R. 5353 (96th)referred
United States · United States Congress · 20 September 1979
Amends the Internal Revenue Code to exclude from gross income up to $1,500 of the interest earned on a savings account.
Bill· HRH.R. 5352 (96th)referred
United States · United States Congress · 20 September 1979
Amends the Internal Revenue Code to increase the amount of the exclusion from gross income of dividends received by individuals from $100 to $1,500.
Bill· HRH.R. 5354 (96th)referred
United States · United States Congress · 20 September 1979
Freedom of Education Act of 1979 - Amends the Internal Revenue Code to allow a taxpayer a 100 percent income tax credit for tuition paid for his elementary, secondary, vocational, or higher education, or that of his spouse or dependents. Requires full-time attendance at an educational institution. Defines "tuition" as fees required for the enrollment or attendance of a student at an educational institution, including fees for courses, books, supplies, or equipment for courses of instruction. Requires a dollar for dollar reduction of tuition amounts eligible for the credit by any amount the taxpayer or his dependents receive as a scholarship or an educational assistance allowance due to status as a veteran. Forbids any construction of this Act as granting the Government authority to examine the books or activities of church-controlled schools. Specifies that the allowance of a tax credit for payment of tuition to such schools shall not be considered as Federal assistance to such schools. Denies jurisdiction to any court to review the constitutionality of tuition tax credits granted by this Act.
Bill· HRH.R. 5350 (96th)referred
United States · United States Congress · 20 September 1979
Amends the Internal Revenue Code to provide for the nonrecognition of gain resulting from the transfer of the taxpayer's principle residence to his spouse (or former spouse) pursuant to a divorce or a written separation agreement.
Bill· HRH.R. 5355 (96th)referred
United States · United States Congress · 20 September 1979
Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act of 1976 which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.
Bill· HJRESH.J.Res. 404 (96th)open
United States · United States Congress · 20 September 1979
Appropriates such amounts as may be necessary in fiscal year 1980 to continue Federal activities for which specified appropriations Acts will not have been enacted prior to September 30, 1979. Funds such activities in the same manner and amounts provided for in such Acts. States that if the Senate and the House of Representatives have both passed appropriations for an activity in differing amounts, the lesser amount or more restrictive authority shall apply in the continuing appropriations. Declares that if an appropriations Act has passed only one House or if an activity has been funded in only one version of an Act passed by both Houses, the continuing appropriations shall not exceed the rate provided by the one House or the current rate, whichever is lower. Makes continuing appropriations for activities provided for in the Departments of Labor, and Health, Education, and Welfare and Related Agencies Appropriations Act, 1980, (H. R. 4389) at the rate agreed to in conference. Provides continuing appropriations for activities conducted in fiscal year 1979 and provided for in the Department of Defense Appropriation Act, 1979, at the current rate or the rate of the budget estimate, whichever is lower. Continues appropriations for the Legislative Branch at the rate provided in H.R. 4390 as reported June 7, 1979. Limits pay increases to five and one-half percent notwithstanding other provisions of law. Prohibits the use of such appropriations to remodel the gallery in Statuary Hall in the Capitol. Appropriates sums at the current rate to continue the breeder reactor demonstration project or project alternative of the Department of Energy. Appropriates such sums as may be necessary to continue specified activities which were conducted in fiscal year 1979 but have not been provided for in fiscal year 1980. Establishes the rate for continuing appropriations to the Department of State for migration and refugee assistance. Makes continuing appropriations for the Department of Transportation at the current rate or the rate of the budget estimate, whichever is lower. Authorizes the Panama Canal Commission to incur obligations at the rate provided for in H.R. 4440 as reported on June 13, 1979. Declares that the appropriations contained in this resolution, except those provided to the Legislative Branch, shall remain available for expenditure until: (1) enactment of an appropriation for any activity provided for in this resolution; (2) enactment of the applicable appropriations Act without any provision for such an activity; or (3) December 31, 1979, whichever first occurs. Authorizes the use of appropriations contained in this resolution without regard to the time limitations for submission and approval of apportionments required by law. Prohibits the use of appropriations, except those provided to the Legislative Branch, to initiate or resume any activity for which funds were not available in fiscal year 1979. Authorizes the apportionment of appropriated funds on a deficiency basis indicating the need for a supplemental appropriation to the extent necessary to permit payment of pay increases granted pursuant to law. Prohibits the use of funds made available in fiscal year 1980 to the Department of Defense - Civil, Department of the Army, Corps of Engineers, in connection with the acquisition of land or easements near the four lake projects in the Yazoo Basin, Mississippi, pending the submission to Congress of the plan specified in the conference report accompanying H.R. 4388. Authorizes the use of continuing appropriations by the Appalachian Regional Commission at the rate provided in the applicable appropriation Act, notwithstanding the termination date of the Appalachian Regional Development Act of 1965.