Records whose title is actually about this topic. Use a country filter if the list is still too broad.
Records
Bill· HRH.R. 9682 (94th)referred
United States · United States Congress · 18 September 1975
Allows an income tax credit under the Internal Revenue Code for the amount of expenses paid for higher education in the taxable year for education above the twelfth grade paid for by the taxpayer for himself or any other individual. Provides that such credit shall be an amount equal to the sum of: (1) 100 percent of so much of such expenses as does not exceed $200; (2) 75 percent of so much of such expenses as exceeds $200 but does not exceed $500; and (3) 25 percent of so much of such expenses as exceed $500 but does not exceed $1,500. Provides for a reduction of such credit by 1 percent of the amount by which the taxpayer's adjusted gross income exceeds $22,500. Defines expenses of higher education as: (1) tuition and fees required for the enrollment or attendance of a student at a level above the twelfth grade at an institution of higher education; and (2) fees, books, supplies, and equipment required for courses of instruction above the twelfth grade at an institution of higher education. Provides that the amount of higher education expenses taken into consideration shall be reduced by any amounts received as a scholarship or fellowship grant or as veterans' benefits.
Bill· HRH.R. 9687 (94th)referred
United States · United States Congress · 18 September 1975
Permits the Secretary of the Treasury under the State and Local Fiscal Assistance Act to withhold a percentage of the total entitlement payment for any period to insure sufficient funds for final allocation of funds among the state and local units of government. Appropriates to the State and Local Government Fiscal Assistance Trust Funds: (1) $1,625,000,000 for fiscal year 1976, (2) $6,687,500,000 for fiscal year 1977, (3) $6,837,500,000 for fiscal year 1978, (4) $6,987,500,000 for fiscal year 1979, (5) $7,137,500,000 for fiscal year 1980, and (6) $7,287,500,000 fiscal year 1981. Appropriates to the Fund as noncontiguous States adjustments: (1) $1,195,000 for fiscal year 1976, and (2) $4,780,000 for each of the fiscal years 1976 through 1981. Exempts amounts appropriated to the Fund from the provisions of the Congressional Budget Act. Directs the Secretary of the Treasury to submit a report with appropriate recommendations to the Congress no later than September 30, 1980, concerning the extension of this title. Declares that if the entitlement of any Indian tribe or Alaskan native village is waived for any entitlement period, then the amount of such entitlement shall become part of the entitlement of the county government of the county in which such unit is located. Increases the maximum percentage points per entitlement period until it reaches 175 percent. Directs each State and local unit of government which receives funds under such Act to submit a report to the Secretary after the close of each entitlement period on the use of the funds received. Directs such unit of local government which expects to receive funds to submit a report to the Secretary on how it plans to use the funds it expects to receive. Empowers the Secretary whenever he determines that a unit of government has failed to comply with an applicable regulation to withhold all or a portion of the entitlement funds due such unit of government, to terminate the eligibility of such unit of government, and to require repayment of the entitlement funds expended. Requires units of government to provide an opportunity for citizens to give recommendations and views on the proposed expenditures of all funds within such units distributed under such Act.
Bill· HRH.R. 9684 (94th)referred
United States · United States Congress · 18 September 1975
Allows an income tax credit under the Internal Revenue Code for the amount of expenses paid for higher education in the taxable year for education above the twelfth grade paid for by the taxpayer for himself or any other individual. Provides that such credit shall be an amount equal to the sum of: (1) 100 percent of so much of such expenses as does not exceed $200; (2) 75 percent of so much of such expenses as exceeds $200 but does not exceed $500; and (3) 25 percent of so much of such expenses as exceed $500 but does not exceed $1,500. Provides for a reduction of such credit by 1 percent of the amount by which the adjusted gross income of the taxpayer exceeds $25,000. Defines expenses of higher education as: (1) tuition and fees required for the enrollment or attendance of a student at a level above the twelfth grade at an institution of higher education; and (2) fees, books, supplies, and equipment required for courses of instruction above the twelfth grade at an institution of higher education. Provides that the amount of higher education expenses taken into consideration shall be reduced by any amounts received as a scholarship or fellowship grant or as veterans' benefits.
Bill· HRH.R. 9680 (94th)referred
United States · United States Congress · 18 September 1975
Excludes from gross income under the Internal Revenue Code customer payments to energy public utilities which are segregated by the public utility on its books of account and are expended within one year of receipt as a qualified capital expenditure (defined as an investment in property having a useful life of 10 years or more, approved by the appropriate agency with ratemaking jurisdiction, and not included in the taxpayer's base for purposes of ratemaking).
Bill· SS. 2356 (94th)referred
United States · United States Congress · 17 September 1975
Allows a tax deduction under the Internal Revenue Code of up to $1000 for amounts paid by a taxpayer for tuition to provide an education for himself or for another individual.
Bill· HRH.R. 9645 (94th)referred
United States · United States Congress · 17 September 1975
Family Farm Inheritance Act - States that for purposes of the estate tax under the Internal Revenue Code the value of the taxable estate shall be determined by deducting the lesser of: (1) $200,000; or (2) the value of the decedent's interest in a family farming operation continuously owned by him or his spouse for five years prior to his death and which passes to a related individual. Disqualifies the individual to whom the estate passes from the tax benefit authorized by this Act if such individual, within five years after the decedent's death, sells or removes the family farming operation.
Bill· HRH.R. 9613 (94th)referred
United States · United States Congress · 17 September 1975
Allows an income tax credit under the Internal Revenue Code for the expenses of higher education paid by the taxpayer during the taxable year for the higher education of any individual in the following amounts: (1) 75 percent of so much of the expenses as does not exceed $200; (2) 50 percent of the expenses as exceeds $200 but does not exceed $500; and (3) 25 percent of so much of such expenses as exceeds $500 but does not exceed $1,500. Provides for the proration of such credit between taxpayers where more than one taxpayer pays the expenses. States that the amounts otherwise taken into account for determination of such credit shall be reduced by the amount of any scholarships, fellowship grants, or veterans' educational benefits received during the taxable year.
Bill· HRH.R. 9638 (94th)referred
United States · United States Congress · 17 September 1975
Exempts, under the Internal Revenue Code, nonprofit volunteer firefighting or rescue organizations from the Federal excise taxes on gasoline, diesel fuel, and special fuels. Exempts such organization from the tax on communication services.
Bill· HRH.R. 9622 (94th)referred
United States · United States Congress · 17 September 1975
Increases the tax credit against the income tax imposed under the Internal Revenue Code on retirement income for individuals 65 years of age or older or any person having public retirement system pension income for the taxable year to 15 percent of the initial amount ($2,500 in the case of a single individual or joint return where only one spouse is eligible, $3,750 in the case of a joint return where both spouses are eligible, and $1,875 in the case of a married individual filing separately) reduced by any pension or annuity otherwise excluded from gross income.
Bill· HRH.R. 9614 (94th)referred
United States · United States Congress · 17 September 1975
Allows a credit against the individual income tax for 50 percent, up to $200, of tuition paid for the education of dependents who are full-time students at an elementary or secondary institution.
Bill· HRH.R. 9639 (94th)referred
United States · United States Congress · 17 September 1975
Exempts, under the Internal Revenue Code, nonprofit volunteer firefighting or rescue organizations from the Federal excise taxes on gasoline, diesel fuel, and special fuels. Exempts such organization from the tax on communication services.
Bill· HRH.R. 9606 (94th)referred
United States · United States Congress · 17 September 1975
Allows regulated investment companies capital loss carryovers for a period of eight years (presently, five years is the permitted period). States that this provision shall apply to net capital losses incurred in taxable years ending after January 1, 1970.
Bill· HRH.R. 9611 (94th)referred
United States · United States Congress · 17 September 1975
Allows a credit against the income tax imposed under the Internal Revenue Code of $10 for each ton of post-consumer waste paper processed in the United States by the taxpayer during the taxable year into new commercially marketable pulp, paper, paperboard or other similar products. Provides that this credit shall not exceed so much of the liability for tax for the taxable year as does not exceed $25,000, plus 50 percent of so much of the liability for tax for the taxable year as exceeds $25,000. Authorizes a carry back (3 years) and a carryover (7 years) for unused credits. Provides rules for allocation of such credits among controlled corporations, shareholders in corporations electing partnership taxation, and estates or trusts and their beneficiaries.
Bill· SS. 2345 (94th)referred
United States · United States Congress · 16 September 1975
Provides that in the case of the death of an individual, there shall be taken into account in computing taxable income for the taxable period in which falls the date of his death, the gains and losses which would have been realized and taken into account in computing taxable income (of the decedent or some other person) if all the property (other than property excluded under this Act) required to be included in determining the value of the decedent's gross estate had been sold immediately before his death at the estate tax fair market value to the person to whom the property passes. States that this provision shall not apply unless the aggregate fair market value of property includible in the gross estate exceeds $60,000. Enumerates items of property to be excluded for purposes of imposition of such tax, including: (1) life insurance policies on life of decedent; (2) items of gross income in respect of a decedent; (3) particular joint and survivor annuity policies; and (4) stock or stock options includible in gross income under other Code provisions. Provides that the net amount of gain or loss to be recognized, after exclusions, shall be decreased (but not below zero) by $10,000. States that the character of gain or loss recognized under this Act shall be long-term capital gain or loss. Provides for a phase-in of a 10-year period after which the tax attributable to amounts recognized by reason of the application of this Act shall not exceed 10 times the increase in tax which would result from the inclusion in the taxpayer's gross income of amounts equal to 10 percent of long and short-term capital gain. States that, in the case of an individual, there shall be taken into account in computing taxable income for the taxable year, the gains and losses which would have been realized and taken into account in computing taxable income of such individual if the property (other than property excluded by this Act) transferred by gift during the taxable year had been sold immediately before such transfer at its fair market value to the donee. Provides that the above provision shall not apply unless the aggregate fair market value of property transferred by gift, after September 30, 1975, exceeds $30,000. Provides that the basis of property acquired by gift shall be increased by the amount of tax paid by reason of this Act.
Bill· SS. 2342 (94th)referred
United States · United States Congress · 16 September 1975
Federal Taxpayers' Rights Act - Directs the Secretary of the Treasury to prepare pamphlets which set forth in nontechnical terms: (1) the rights and obligations of a taxpayer and the Service during an audit; (2) the procedures by which a taxpayer may appeal any adverse decision of the Service (including administrative and judicial appeals); (3) the procedures for prosecuting refund claims and filing of taxpayer complaints; and (4) the procedures which the Service may use in enforcing the internal revenue laws (including assessment, jeopardy assessment, levy and distraint, and enforcement of liens). Establishes within the Internal Revenue Service an office to be known as the Office of Taxpayer Services to be under the supervision and direction of an Assistant Commissioner of Internal Revenue who shall assist taxpayers in obtaining easily understandable tax information and answering questions on tax liability, among other functions. States that, upon application filed by a taxpayer with the Office of Taxpayer Services, in such form, manner, and at such time as the Secretary or his delegate shall by regulations prescribe, the Assistant Commissioner for Taxpayer Services may issue a Taxpayer Assistance Order if, in the determination of the Assistant Commissioner, the taxpayer is suffering from an unusual, unnecessary, or irreparable loss as a result of the manner in which the internal revenue laws are being administered by the Secretary or his delegate. Authorizes the President of the Legal Services Corporation to establish Taxpayer Representation Offices in four cities selected by such President for purposes of providing legal assistance to individuals in connection with: (1) any audit by the Service of any return made by or on behalf of the individual with respect to any tax imposed by chapter 1 of the Internal Revenue Code of 1954, or (2) an assessment or collection from any such individual of any tax imposed by such chapter. Provides for show cause hearings with respect to jeopardy assessments and termination of taxable years. Increases the monetary value of specified items to be exempt from levy. Provides criminal penalties (a fine of up to $10,000, or imprisonment for up to 2 years or both) for investigations into or surveillance over the beliefs, associations, or activities of any individual or organization which are not directly related to such revenue laws. Provides a civil cause of action for damages or an injunction, or both, for such violations. Prohibits inspection of tax returns pursuant to a criminal investigation unless a search warrant has issued upon probable cause to believe that no alternative source of necessary information is available. Provides rules for civil investigation related to: (1) payment of Social Security and Railroad Retirement taxes; (2) pension administration; (3) census information; (4) enforcement of taxpayers' rights under this Act; (5) inspection by States; (6) inspection by Committees of Congress; and (7) disclosure to persons having substantial interest (agents of partnerships and corporations, and shareholders of corporations). Provides a civil action for damages for unauthorized disclosure of tax information.
Bill· SS. 2340 (94th)referred
United States · United States Congress · 16 September 1975
Provides, under the Internal Revenue Code, that product development and improvement costs (including writing, editing, compiling, illustrating, and designing) of publishers are research or experimental expenditures for purposes of deductibility. Prohibits the retroactive application of Revenue Ruling Numbered 73-395.
Bill· HRH.R. 9599 (94th)referred
United States · United States Congress · 15 September 1975
Federal Taxpayers' Rights Act - Directs the Secretary of the Treasury to prepare pamphlets which set forth in nontechnical terms (1) the rights and obligations of a taxpayer and the Internal Revenue Service during an audit; (2) the procedures by which a taxpayer may appeal any adverse decision of the Service (including administrative and judicial appeals); (3) the procedures for prosecuting refund claims and filing of taxpayer complaints; and (4) the procedures which the Service may use in enforcing the internal revenue laws (including assessment, jeopardy assessment, levy and distraint, and enforcement of liens). Establishes within the Internal Revenue Service an office to be known as the Office of Taxpayer Services to be under the supervision and direction of an Assistant Commissioner of Internal Revenue who shall assist taxpayers in obtaining easily understandable tax information and answering questions on tax liability, among other functions. States that, upon application filed by a taxpayer, the Assistant Commissioner for Taxpayer Services may issue a Taxpayer Assistance Order if, in the determination of the Assistant Commissioner, the taxpayer is suffering from an unusual, unnecessary, or irreparable loss as a result of the manner in which the internal revenue laws are being administered by the Secretary or his delegate. Authorizes the President of the Legal Services Corporation to establish Taxpayer Representation Offices in four cities (selected by the President) for purposes of providing legal assistance to individuals in connection with: (1) any audit by the Service of any return made by or on behalf of the individual with respect to any tax imposed by chapter 1 of the Internal Revenue Code of 1954, or (2) an assessment or collection from any such individual of any tax imposed by such chapter. Provides for show cause hearings with respect to jeopardy assessments and termination of taxable years. Increases the monetary value of specified items to be exempt from levy. Provides criminal penalties (a fine of up to $10,000, imprisonment for up to 2 years, or both) for investigation into or surveillance over the beliefs, associations, or activities of any individual or organization which are not directly related to such revenue laws. Prohibits a civil cause of action for damages or an injunction, or both, for such violations. Prohibits inspection of tax returns pursuant to a criminal investigation unless a search warrant has been issued upon probable cause to believe that no alternative source of necessary information is available. Provides rules for civil investigation related to: (1) payment of Social Security and Railroad Retirement Taxes; (2) pension administration; (3) census information; (4) enforcement of taxpayer's rights under this Act; (5) inspection by States; (6) inspection by a Committee of Congress; and (7) disclosure to persons having a substantial interest (agents of partnerships and corporations, and shareholders of corporations). Provides a civil action for damages for unauthorized disclosure of tax information.
Bill· HRH.R. 9557 (94th)referred
United States · United States Congress · 11 September 1975
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· HRH.R. 9584 (94th)referred
United States · United States Congress · 11 September 1975
Provides that property used in, or related to, a taxpayer's business which was acquired at no cost to him shall not be a capital asset for purposes of taxation under the Internal Revenue Code.
Bill· HRH.R. 9556 (94th)referred
United States · United States Congress · 11 September 1975
Provides, under the Internal Revenue Code, for the release of the lien for the estate tax on property which is transferred by the executor to a purchaser or holder of a security interest. Provides that a like lien shall then attach to the proceeds of such a transfer.
Bill· SS. 2324 (94th)referred
United States · United States Congress · 10 September 1975
Income Tax Return Confidentiality Act - States that a tax return filed with respect to taxes imposed under the Internal Revenue Code shall be open to inspection solely by the taxpayer who files such return, except that inspection may be had: (1) by officers and employees of the Department of the Treasury whose official duties with respect to Federal tax administration require such inspection; (2) by attorneys of the Department of Justice, including United States Attorneys, upon written request, solely for use in connection with an investigation conducted by such attorneys or in preparation by such attorneys for a proceeding before a Federal grand jury or a Federal or State court only under specified conditions if the taxpayer whose return of tax is to be inspected consents; (3) by Federal and State agencies regulating tax return preparers; (4) by employees of the United States in the course of a criminal investigation and pursuant to a search warrant; (5) by the Social Security Administration, Railroad Retirement Board, Department of Labor, and Department of Health, Education, and Welfare in appropriate cases; (6) for statistical studies by the Social and Economic Statistics Administration; (7) for investigation of Federal appointees; (8) by committees of Congress with tax law jurisdiction; (9) for State tax administration purposes; (10) for judicial and administrative proceedings related to tax administration; and (11) by an agent of a partnership or corporation who has a substantial interest in such return. Requires the Secretary of the Treasury to report annually to the Joint Committee on Internal Revenue Taxation on all requests received under this Act to inspect a return of tax or for disclosure of information derived from a return of tax and the disposition of such requests.
Bill· SS. 2320 (94th)referred
United States · United States Congress · 10 September 1975
Provides an additional personal exemption of $1,000 to the taxpayer under the Internal Revenue Code for each senior citizen whose principal place of abode is in the principal residence of the taxpayer, unless the taxpayer is allowed a deduction for trade or business expense for the housing of such senior citizen.
Bill· HRH.R. 9541 (94th)referred
United States · United States Congress · 10 September 1975
Allows an individual an income tax deduction under the Internal Revenue Code for the ordinary and necessary expenses of traveling to and from work by means of mass transportation facilities.
Bill· HRH.R. 9513 (94th)referred
United States · United States Congress · 10 September 1975
Reduces the excise tax under the Internal Revenue Code for beer brewed or produced at a qualified brewery in the United States, which produces no more than 8,000,000 barrels, to $6 a barrel on the first 100,000 barrels removed for consumption.
Bill· HRH.R. 9527 (94th)referred
United States · United States Congress · 10 September 1975
Provides, under the National Foundation on the Arts and Humanities Act of 1965, that the National Endowment for the Arts shall carry a program for the employment of artists during any fiscal year in which the national rate of unemployment exceeds 6.5 percent. Sets forth conditions governing the expenditure of funds for such a program. Defines the terms "artist" and "unemployed" as it applies to artists. Authorizes to be appropriated $20,000,000 for fiscal year 1976 for the purposes of this Act.
Bill· HRH.R. 9528 (94th)referred
United States · United States Congress · 10 September 1975
Provides an additional personal exemption of $1,000, under the Internal Revenue Code, to the taxpayer for each senior citizen whose principal place of abode is in the principal residence of the taxpayer, except in the case where the taxpayer is allowed a trade or business expense deduction for providing such housing.
Bill· HRH.R. 9519 (94th)referred
United States · United States Congress · 10 September 1975
Provides for the withholding of State and city income taxes from the pay of members of the Armed Forces, under the direction and administration of the Internal Revenue Service pursuant to agreements entered into between the Secretary of the Treasury and the individual States.
Bill· HRH.R. 9511 (94th)referred
United States · United States Congress · 10 September 1975
Imposes a tax of 30 percent of the economic income of a corporation if such corporation has gross income in excess of $3,000,000 and its gross income from oil-related sources is more than 30 percent of its gross income. Defines economic income as the book earnings of a corporation: (1) not taking into account any provision for Federal income tax; and (2) excluding 85 percent of dividends received from domestic corporations, the corporations share of losses or undistributed earnings of subsidiary corporations, and interest on governmental obligations. Defines the term "gross income from oil-related sources" for purposes of this Act.
Bill· SS. 2311 (94th)referred
United States · United States Congress · 9 September 1975
Provides that, with respect to involuntary conversions of real property as a result of seizure, requisition, or condemnation, gain shall be recognized under the Internal Revenue Code only to the extent that the amount realized upon such conversion exceeds the cost of the replacement property even if such property is not related in service or use to the involuntarily converted property.
Bill· HRH.R. 9480 (94th)referred
United States · United States Congress · 9 September 1975
Exempts, under the Internal Revenue Code, nonprofit volunteer firefighting or rescue organizations from the Federal excise taxes on gasoline, diesel fuel, and special fuels. Exempts such organization from the tax on communication services.
Bill· HRH.R. 9471 (94th)referred
United States · United States Congress · 9 September 1975
Revises the District of Columbia Income and Franchise Tax Act of 1947 to include within the meaning of the term "gross income" the income from an unincorporated business. Increases from 55 percent to 80 percent the portion of net income of an unincorporated business which the individual owners or active members may deduct for services rendered under the District of Columbia Income and Franchise Tax Act of 1947.
Bill· HRH.R. 9442 (94th)referred
United States · United States Congress · 8 September 1975
Prohibits, except as provided in this Act, the inspection of tax returns and the disclosure of information contained in such returns. Authorizes the inspection of returns by or disclosure to (1) the taxpayer or his representative; (2) employees of the Internal Revenue Service and Department of Justice solely for purposes of enforcement of the tax laws; (3) State agencies charged with administration of the tax laws only for that purpose; (4) the President of the United States in the performance of his official duties; and (5) the Joint Committee on Internal Revenue Taxation for statistical purposes only. Increases the criminal penalties for unauthorized disclosure or receipt of information under this Act.
Bill· HRH.R. 9443 (94th)referred
United States · United States Congress · 8 September 1975
Allows a tax credit under the Internal Revenue Code for the taxable year of $10 for each ton of post-consumer waste paper processed in the United States by the taxpayer during the taxable year into new commercially marketable pulp, paper, paperboard or other similar products.
Bill· HRH.R. 9406 (94th)referred
United States · United States Congress · 5 September 1975
Provides, under the Internal Revenue Code, that product development and improvement (including writing, editing, compiling, illustrating, and designing) costs of publishers are research or experimental expenditures. Prohibits the retroactive application of Revenue Ruling Numbered 73-395.
Bill· HRH.R. 9386 (94th)referred
United States · United States Congress · 5 September 1975
Revises the Internal Revenue Code to exclude from gross income any amount received by an individual in any taxable year as a pension, annuity, or other benefit under a State or local public retirement system.
Bill· HRH.R. 9377 (94th)referred
United States · United States Congress · 4 September 1975
Permits the Secretary of the Treasury under the State and Local Fiscal Assistance Act to withhold a percentage of the total entitlement payment for any period to insure sufficient funds for final allocation of funds among the state and local units of government. Appropriates to the State and Local Government Fiscal Assistance Trust Funds: (1) $1,625,000,000 for fiscal year 1976, (2) $6,687,500,000 for fiscal year 1977, (3) $6,837,500,000 for fiscal year 1978, (4) $6,987,500,000 for fiscal year 1979, (5) $7,137,500,000 for fiscal year 1980, and (6) $7,287,500,000 fiscal year 1981. Appropriates to the Fund as noncontiguous States adjustments: (1) $1,195,000 for fiscal year 1976, and (2) $4,780,000 for each of the fiscal years 1976 through 1981. Exempts amounts appropriated to the Fund from the provisions of the Congressional Budget Act. Directs the Secretary of the Treasury to submit a report with appropriate recommendations to the Congress no later than September 30, 1980, concerning the extension of this title. Declares that if the entitlement of any Indian tribe or Alaskan native village is waived for any entitlement period, then the amount of such entitlement shall become part of the entitlement of the county government of the county in which such unit is located. Increases the maximum percentage points per entitlement period until it reaches 175 percent. Directs each State and local unit of government which receives funds under such Act to submit a report to the Secretary after the close of each entitlement period on the use of the funds received. Directs such unit of local government which expects to receive funds to submit a report to the Secretary on how it plans to use the funds it expects to receive. Empowers the Secretary whenever he determines that a unit of government has failed to comply with an applicable regulation to withhold all or a portion of the entitlement funds due such unit of government, to terminate the eligibility of such unit of government, and to require repayment of the entitlement funds expended. Requires units of government to provide an opportunity for citizens to give recommendations and views on the proposed expenditures of all funds within such units distributed under such Act.
Bill· HRH.R. 9369 (94th)referred
United States · United States Congress · 4 September 1975
Farm Tax Equity Act - Limits, under the Internal Revenue Code, deductions with respect to a taxpayer engaged in the business of farming to: (1) the gross income of the business for the taxable year; and (2) in the case of an individual or a bona fide family farm corporation, the higher of $10,000 or the amount of special deductions allowed by this Act, or for any other taxpayer, the amount of special deductions. Prohibits the application of such deductions when the taxpayer uses specified accounting methods. Defines terms used in this Act.
Bill· HRH.R. 9357 (94th)referred
United States · United States Congress · 4 September 1975
Authorizes appropriations of $5,000,000,000 for fiscal year 1976 for carrying out the programs authorized under the Comprehensive Employment and Training Act, including (1) comprehensive manpower services, (2) public employment programs, and (3) Job Corps.
Bill· HRH.R. 9370 (94th)referred
United States · United States Congress · 4 September 1975
Revises the Tax Reduction Act of 1975 to provide that the special $50 payment which was authorized for recipients of monthly social security insurance benefits, railroad retirement pension payments, or supplemental security income benefits shall be made to all individuals whose entitlement for such benefits for March 1975 was established before the end of August 1975.
Bill· HRH.R. 9366 (94th)referred
United States · United States Congress · 4 September 1975
Taxpayer Audit Disclosure Act - Requires the establishment of formal procedures and criteria for the selection of individual income tax returns for audit. Directs the Secretary of the Treasury or his delegate to provide any individual selected for auditing with a written notice which clearly specifies the reasons for and manner in which the return of such individual was selected for audit. Provides that the Secretary or his delegate shall furnish to such individual a written explanation which describes the audit procedure, the rights which a taxpayer may exercise during such procedure, the right of the taxpayer to make an administrative or judicial appeal from an adverse decision at the end of such procedure, and the right of the taxpayer to claim a refund. Requires the Secretary of the Treasury or his delegate to submit to the Joint Committee on Internal Revenue Taxation before September 30 of each year a report setting forth: (1) the number of individuals whose returns were selected for audit during the previous 12-month period; (2) a classification of individuals whose returns were audited during the previous 12-month period by, among other factors, income levels, geographic distribution, and profession; (3) the number of individuals audited during the previous 12-month period who were found to have made underpayments or overpayments of tax, together with summary statistics reflecting the percentage of such number, by income category, who made underpayments or overpayments of certain ranges of amounts (to be determined by the Secretary or his delegate); and (4) such other information as may be requested by the joint committee in accordance with the purposes of this Act.
Bill· HRH.R. 9375 (94th)referred
United States · United States Congress · 4 September 1975
Extends from 18 to 24 months the period which the Secretary of the Department in which the Coast Guard is operating may interpose, at his discretion, between the date of issuance of a boating safety standard requiring major changes in the boat manufacturing industry and the effective date of such safety standard. Authorizes the Secretary to conduct research, testing, and development necessary to carry out the purposes of the Federal Boat Safety Act. Extends through fiscal year 1978 the allocation of Federal funds to State boating safety programs. Authorizes through fiscal year 1978 the appropriation of funds for Federal assistance to State boating safety programs.
Bill· HRH.R. 9322 (94th)referred
United States · United States Congress · 3 September 1975
Allows an income tax credit under the Internal Revenue Code for the amount of expenses paid for higher education in the taxable year for education above the twelfth grade paid for by the taxpayer for himself or any other individual. Provides that such credit shall be an amount equal to the sum of: (1) 100 percent of so much of such expenses as does not exceed $200; (2) 75 percent of so much of such expenses as exceeds $200 but does not exceed $500; and (3) 25 percent of so much of such expenses as exceeds $500 but does not exceed $1,500. Defines expenses of higher education as: (1) tuition and fees required for the enrollment or attendance of a student at a level above the twelfth grade at an institution of higher education; and (2) fees, books, supplies, and equipment required for courses of instruction above the twelfth grade at an institution of higher education. Provides that the amount of higher education expenses taken into consideration shall be reduced by any amounts received as a scholarship or fellowship grant or as veterans' benefits.
Bill· HRH.R. 9335 (94th)referred
United States · United States Congress · 3 September 1975
Exempts from the tax on the use of a taxable aircraft under the Internal Revenue Code any person who holds a certificate as an agricultural aircraft operator, whose aircraft is equipped for agricultural operations, and who uses it primarily for such agricultural operations. Grants to an aerial applicator the right to any payment, credit, or refund under the Internal Revenue Code with respect to the use of any liquid as a fuel in an aircraft by such aerial applicator, who was the ultimate purchaser thereof, and who has obtained a waiver in writing from an operator of the farm of his right to any such payment.
Bill· HRH.R. 9327 (94th)referred
United States · United States Congress · 3 September 1975
Authorizes a deduction, under the Internal Revenue Code, to individuals with permanently handicapped children for amounts contributed to a trust fund which is to be used for the care and support of such child. Limits such deduction to the lesser of 10 percent of the adjusted gross income of the taxpayer, or $5000 in the case of a joint return. Specifies the type of trust which may meet the conditions of this Act. Defines terms used in this Act.
Bill· SS. 2267 (94th)referred
United States · United States Congress · 1 August 1975
Revises the Internal Revenue Code to allow an executor to elect to take an estate tax credit or to defer the payment of a portion of the estate tax equal to the difference between the estate tax imposed and what would be the estate tax liability if any qualified farm property included in the gross estate were valued on the basis of its use for farming. Imposes a tax lien upon the qualified farm property with respect to which the executor has elected such credit.
Bill· SS. 2272 (94th)referred
United States · United States Congress · 1 August 1975
Increases the value of exemptions for taxable estates under the Internal Revenue Code from $60,000 to $200,000 of the value of the gross estate. Increases the limitation on the aggregate marital deduction to 50 percent of the adjusted gross value of the estate, plus $100,000. Allows an executor to value farmland, woodland, and scenic open land at its current use value rather than at its fair market value.
Bill· HRH.R. 9281 (94th)referred
United States · United States Congress · 1 August 1975
Provides that the reasonable and necessary expenses of child adoption shall be treated as medical expenses for purposes of deductibility under the Internal Revenue Code.
Bill· HRH.R. 9261 (94th)referred
United States · United States Congress · 1 August 1975
Allows individuals a tax deduction under the Internal Revenue Code for amounts paid for commuting to and from work on public transportation systems. Excludes from gross income the value of public transportation tickets furnished by a corporation to its employees.
Bill· HRH.R. 9245 (94th)referred
United States · United States Congress · 1 August 1975
Local Fiscal Assistance Act - Revises the State and Local Fiscal Assistance Act to delete the provisions of that Act authorizing payments by the Secretary of the Treasury to units of general local government from the Trust Fund created by that Act. Changes the designation of the "State and Local Government Fiscal Assistance Trust Fund" to the "Local Government Fiscal Assistance Trust Fund. Makes appropriations to the Trust Fund, out of amounts in the general fund of the Treasury, for the transition period and for fiscal years 1976 through 1981. Makes appropriations to the Trust Fund, out of amounts in the general fund of the Treasury, for noncontiguous States adjustment amounts, for the transition period and for fiscal years 1976 through 1981. Directs that allocations made to States from the Trust Fund be allocated among the units of local government of the States. Authorizes local government units to draw funds to which they will become entitled in advance of the actual period for which such funds will be entitled where the chief executive officer of such local government shows a critical need for such funds.
Bill· HRH.R. 9296 (94th)referred
United States · United States Congress · 1 August 1975
Permits the Secretary of the Treasury under the State and Local Fiscal Assistance Act to withhold a percentage of the total entitlement payment for any period to insure sufficient funds for final allocation of funds among the state and local units of government. Appropriates to the State and Local Government Fiscal Assistance Trust Funds: (1) $1,625,000,000 for fiscal year 1976, (2) $6,687,500,000 for fiscal year 1977, (3) $6,837,500,000 for fiscal year 1978, (4) $6,987,500,000 for fiscal year 1979, (5) $7,137,500,000 for fiscal year 1980, and (6) $7,287,500,000 fiscal year 1981. Appropriates to the Fund as noncontiguous States adjustments: (1) $1,195,000 for fiscal year 1976, and (2) $4,780,000 for each of the fiscal years 1976 through 1981. Exempts amounts appropriated to the Fund from the provisions of the Congressional Budget Act. Directs the Secretary of the Treasury to submit a report with appropriate recommendations to the Congress no later than September 30, 1980, concerning the extension of this title. Declares that if the entitlement of any Indian tribe or Alaskan native village is waived for any entitlement period, then the amount of such entitlement shall become part of the entitlement of the county government of the county in which such unit is located. Increases the maximum percentage points per entitlement period until it reaches 175 percent. Directs each State and local unit of government which receives funds under such Act to submit a report to the Secretary after the close of each entitlement period on the use of the funds received. Directs such unit of local government which expects to receive funds to submit a report to the Secretary on how it plans to use the funds it expects to receive. Empowers the Secretary whenever he determines that a unit of government has failed to comply with an applicable regulation to withhold all or a portion of the entitlement funds due such unit of government, to terminate the eligibility of such unit of government, and to require repayment of the entitlement funds expended. Requires units of government to provide an opportunity for citizens to give recommendations and views on the proposed expenditures of all funds within such units distributed under such Act.