Taxation

FACT Act

United States · United States Congress · 26 July 2010

Fair American Corporate Tax Act or FACT Act - Amends the Internal Revenue Code to: (1) decrease from 35% to 28% the top marginal income tax rate for corporations (including personal service corporations); and (2) provide that the amount of any tax withholding for deductible payments made by a U.S. subsidiary of a foreign parent corporation to a related subsidiary in any country that has a tax treaty with the United States shall not be less than the amount which would be imposed if the payment were made directly to the foreign parent corporation.

Fiscal Responsibility and Retirement Security Act

United States · United States Congress · 26 July 2010

Fiscal Responsibility and Retirement Security Act - Amends the Public Health Service Act, as amended by the Patient Protection and Affordable Care Act, to require congressional approval of the designation by the Secretary of Health and Human Services (HHS) of a benefit plan as the CLASS Independence Benefit Plan under the CLASS program (a national, voluntary insurance program for purchasing community living assistance services and supports). Sets forth procedures for such congressional approval by joint resolution. Prohibits an employer from enrolling an employee in the CLASS program without providing specified notice to the employee, which includes: (1) the significant risk of failure of such a program; (2) information on deficits that the program is expected to run; (3) a statement that there is no separate pool of money set aside to pay the CLASS program benefits; and (4) an explanation of the immediate termination of the program if it is reported to be actuarially unsound. Prohibits premiums from being collected before the Secretary has promulgated the required regulations in final form. Terminates such program if the report by the Board of Trustees of the CLASS Independence Fund indicates that the Fund is projected to be actuarially unsound over the 75-year period beginning with the fiscal year in which such report is submitted. Establishes a refund process.

Waste-to-Energy Technology Act of 2010

United States · United States Congress · 26 July 2010

Waste-to-Energy Technology Act of 2010 - Amends the Internal Revenue Code to allow a 30% energy tax credit for investment in qualified waste-to-energy property. Defines "qualified waste-to-energy property" as property comprising a system that uses municipal solid waste or sewage sludge as the feedstock for producing solid, liquid, or gas fuel, and that is certified by the Secretary of the Treasury as eligible for a credit under this Act. Excludes certain landfill facilities from such definition. Requires the Secretary to establish criteria for awarding certifications for waste-to-energy projects, which shall include: (1) the commercial viability of such projects; (2) whether such projects will provide the greatest net impact in avoiding or reducing air pollutants or anthropogenic emissions of greenhouse gases; and (3) whether such projects pose the fewest risks (other than climate risks) to environmental and human health.

Union Member Protection Act

United States · United States Congress · 26 July 2010

Union Member Protection Act - Amends the Labor-Management Reporting and Disclosure Act (Landrum-Griffin Act) to require a labor organization's mandatory report to the Secretary of Labor on its constitution, officers, and basic organization to include, in a clear and simple format, both: (1) a description of the specific nature and total amount of political expenditures the labor organization proposes to make for the upcoming fiscal year; and (2) a disclosure of how each labor organization officer voted on each political expenditure made by the organization during the preceding fiscal year. Prohibits a labor organization from making political expenditures unless: (1) they are of the nature of those proposed in such report; and (2) they have received a full, free, and written authorization by secret ballot by a majority of the labor organization members. Makes officers jointly and severally liable for authorizing a political expenditure without first obtaining the authorization of labor organization members. Requires labor organization bylaws to provide expressly for a vote of the organization's principal officers on individual political expenditures in excess of $50,000. Requires a labor organization to make public the individual votes of such officers within 48 hours, including in a clear and conspicuous location on its website.

A bill to amend the Internal Revenue Code of 1986 to clarify the types of energy conservation subsidies provided by public utilities eligible for income exclusion.

United States · United States Congress · 22 July 2010

Amends the Internal Revenue Code, with respect to the income tax exclusion for energy conservation subsidies, to define "subsidy" to include amounts received by a customer from a public utility to: (1) pay for electricity generated from an energy conservation measure under a net metering or net billing program; or (2) pay for renewable energy credits attributable to an energy conservation measure. Limits the excludable amount of any subsidy for renewable energy credits to $2,000 times the whole number of years worth of renewable energy credits that are sold by the customer.

American Family Farm and Ranchland Protection Act of 2010

United States · United States Congress · 22 July 2010

American Family Farm and Ranchland Protection Act of 2010 - Amends the Internal Revenue Code to increase to $5 million the limitation on the estate tax exclusion for land subject to a qualified conservation easement and to increase the percentage of the value of such land that is excludable.

American Innovation Act of 2010

United States · United States Congress · 22 July 2010

American Innovation Act of 2010 - Requires institutions of higher education (IHEs) that receive one or more financial assistance grants from the National Science Foundation (NSF) for research to report to the NSF on: (1) the IHE's strategy for commercializing the results of the research; (2) the implementation of such strategy; and (3) the results of its efforts to realize the commercial potential of the research. Authorizes the Director of the NSF to use funds appropriated to carry out grants to IHEs for the provision of financial support for post-graduate research in fields of study with potential commercial applications to match any private sector grant of financial assistance to any post-doctoral program in such a field. Authorizes the award of grants to IHEs or their consortia for the establishment or expansion of partnerships (including industry or professional association partnerships) with local or regional private sector entities to provide undergraduate students with private sector internship experiences (including manufacturing sector internships) that connect with their STEM coursework. Requires National Academy of Sciences (NAS) to initiate a study to evaluate, develop, or improve impact-on-society metrics, including the potential for commercial applications of research studies funded by grants from the NSF or other federal agencies. Amends the Internal Revenue Code to allow the research tax credit for basic research payments made to certain educational and scientific organizations to be made whether or not such research has a specific commercial objective. Directs the Secretary of Commerce to establish a program to provide loan guarantees for obligations to borrowers who are small- or medium-sized businesses to assist them in making commercial use of products, processes, or ideas generated by NSF-funded research grants.

PACE Assessment Protection Act of 2010

United States · United States Congress · 22 July 2010

PACE Assessment Protection Act of 2010 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to adopt underwriting standards that are consistent with the Guidelines for Pilot PACE Financing Programs issued on May 7, 2010, by the Department of Energy (DOE). Provides that liens or other property obligations that secure property taxes or assessments under a PACE program and that are consistent with such standards shall be considered to comply with the Uniform Instruments of Fannie Mae and Freddie Mac and shall not constitute a default on an existing mortgage or trigger the exercise of lender's remedies for a property with such a lien. Defines a "PACE program" as a property assessed clean energy program under which a state or political subdivision levies taxes or assessments on real property to finance the installation of renewable energy and energy efficiency improvements. Prohibits Fannie Mae and Freddie Mac from requiring repayment of a PACE program tax or assessment in order for a property owner to finance, refinance, or transfer property that meets their underwriting criteria without consideration of the PACE program lien. Requires the underwriting standards to provide that, in the event that a tax or assessment under a PACE program is delinquent, only the unpaid delinquent amount along with applicable penalties, interest, and costs will be subject to foreclosure and not the entire amount. Prohibits the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and all federal agencies and entities chartered under federal law from discriminating against communities implementing or participating in a PACE program.

To amend title VIII of the Elementary and Secondary Education Act of 1965 to require the Secretary of Education to complete payments under such title to local educational agencies eligible for such payments within 3 fiscal years.

United States · United States Congress · 22 July 2010

Amends title VIII (Impact Aid) of the Elementary and Secondary Education Act of 1965 to require the Secretary of Education to complete Impact Aid payments to eligible local educational agencies (LEAs) within three fiscal years of their appropriation. (The Impact Aid program compensates LEAs for the financial burden of federal activities affecting their school districts.)

Public Housing Reinvestment and Tenant Protection Act of 2010

United States · United States Congress · 22 July 2010

Public Housing Reinvestment and Tenant Protection Act of 2010 - Choice Neighborhoods Initiative Act of 2010 - Requires the Secretary of Housing and Urban Development (HUD) to make competitive grants to local governments, public housing agencies (PHAs), or nonprofit entities owning a major housing project to implement transformational programs in eligible neighborhoods with a concentration of extreme poverty and severely distressed housing. Public Housing One-for-One Replacement and Tenant Protection Act of 2010 - Amends the United States Housing Act of 1937 with respect to: (1) demolition, disposition, or both pursuant to conversion of any public housing unit; and (2) the taking of public housing units through the use of eminent domain. Exempts from specified requirements for demolition and disposition of public housing any public housing projects removed from a PHA inventory under the program for conversion of demolished or distressed public housing dwelling units to tenant-based assistance. Public Housing Preservation and Rehabilitation Act of 2010 - Authorizes the Secretary to guarantee notes or other obligations issued by PHAs to finance: (1) the rehabilitation of PHA public housing; or (2) the modernization of such housing through energy efficiency improvements. Prescribes requirements for PHAs that utilize housing tax credits under the Internal Revenue Code for rental housing units. Removes a specified limitation on the use of amounts from the public housing Capital Fund or Operation Fund by a PHA to construct new public housing units. Permits a PHA to use amounts from the Capital Fund for public housing units not included in the regular formula for determining the amount of assistance, subject to certain conditions. Authorizes the Secretary to make grants to PHAs for conversion of public housing projects to assisted living. Together We Care Act of 2010 - Requires the Secretary to establish a competitive grant pilot program for eligible entities to train public housing residents as home health aides and as providers of home-based health services for residents of public housing or federally-assisted rental housing who are elderly, disabled, or both.

To authorize 700 incremental vouchers for tenant-based rental assistance under section 8 of the United States Housing Act of 1937 to help meet the housing needs of low-income families in the Commonwealth of the Northern Mariana Islands.

United States · United States Congress · 22 July 2010

Instructs the Secretary of Housing and Urban Development (HUD) to: (1) provide 700 incremental vouchers to the Northern Marianas Housing Corporation in FY2011 for tenant-based rental housing assistance under section 8 of the United States Housing Act of 1937; and (2) renew such vouchers in each ensuing fiscal year.

10 Million Solar Roofs Act of 2010

United States · United States Congress · 22 July 2010

10 Million Solar Roofs Act of 2010 - Directs the Secretary of Energy (DOE) to establish a program under which the Secretary shall provide competitive grants to states, Indian tribes, and local governments to provide rebates, loans, or other incentives to eligible participants for the purchase and installation of solar energy systems for properties located in the United States. Requires the Secretary to implement specified criteria for awarding such grants that includes: (1) providing the maximum leverage of federal funds; (2) providing for the maximum deployment of solar energy; and (3) ensuring that grants are awarded to a diversity of geographic locations and recipients with different population sizes. Authorizes the use of funds received to expand or establish a solar rebate program, a solar loan program, a solar performance-based incentive program, or another solar incentive program, solar deployment program or project, or innovative solar financing program as determined by the Secretary. Requires a grant recipient to: (1) certify that funds will be used to supplement, expand, or create new programs and to deploy an increased quantity of solar energy systems; and (2) submit to the Secretary an implementation plan that contains projections for solar energy systems deployment, data regarding the number of eligible participants that are assisted under existing applicable state and local programs, and projections for additional solar energy system deployment and the number of additional eligible participants covered. Authorizes the Secretary to specify the type and capacity of solar energy system and type of deployment or incentive program for which the grant funds are made available. Makes each eligible entity receiving funds responsible for 20% of the amount of the provided funds. Provides that a participant who receives a rebate under this Act shall not be eligible for a rebate for expenditures for installation of a renewable energy system in connection with a dwelling unit or small business under the Energy Policy Act of 2005. Limits the aggregate value of the grants, rebates, and tax credits provided to an eligible participant to 50% of the cost to the purchaser of the purchase and installation. Sets a goal of installing distributed solar energy systems on not less than 10 million properties located in the United States by December 31, 2021.

To amend the Internal Revenue Code of 1986 to clarify the types of energy conservation subsidies provided by public utilities eligible for income exclusion.

United States · United States Congress · 22 July 2010

Amends the Internal Revenue Code, with respect to the income tax exclusion for energy conservation subsidies, to define "subsidy" to include amounts received by a customer from a public utility to: (1) pay for electricity generated from an energy conservation measure under a net metering or net billing program; or (2) pay for renewable energy credits attributable to an energy conservation measure. Limits the excludable amount of any subsidy for renewable energy credits to $2,000 times the whole number of years worth of renewable energy credits that are sold by the customer.

Mandate Prevention Act of 2010

United States · United States Congress · 22 July 2010

Mandate Prevention Act of 2010 - Amends the Congressional Budget Act of 1974 (CBA) to make it out of order to consider in either chamber of Congress any legislation that would increase the direct costs of federal private sector mandates by an amount that causes the applicable thresholds to be exceeded, unless the legislation: (1) provides new budget or entitlement authority in the House of Representatives or direct spending authority in the Senate for each fiscal year for such mandates in an amount equal to or exceeding the direct costs of each such mandate; or (2) includes an authorization of appropriations in an amount equal to or exceeding the direct costs of such mandates and makes other specified arrangements for up to 10 years during which each mandate shall be in effect under the legislation. Applies such prohibition to any legislative provision increasing direct costs of a federal private sector mandate (currently, federal intergovernmental mandate only) in any legislation reported by a congressional appropriations committee. Amends Rule XVIII (The Committee of the Whole House on the state of the Union) of the Rules of the House to state that the Committee of the Whole may be precluded from considering an amendment proposing only to strike an unfunded federal private sector mandate from the portion of the bill then open to amendment only by specific terms of a special order of the House. Amends the CBA to equalize the threshold between private sector and intergovernmental mandates.

End the Lame Duck Act

United States · United States Congress · 22 July 2010

End the Lame Duck Act - Considers the House of Representatives to be adjourned sine die if it stands adjourned on the date of the regularly scheduled general election for federal office during a Congress (beginning with the 110th Congress) pursuant to a concurrent resolution providing for the adjournment of the House. Authorizes the Speaker of the House and the Majority Leader of the Senate, or their respective designees, acting jointly after consultation with the Minority Leaders of both chambers, to notify the Members of the House and Senate to reassemble if they determine that the existence of a national emergency warrants it. Provides for automatic continuing appropriations if a regular appropriation bill for a fiscal year does not become law before the date of the regularly scheduled general election for federal office held during such fiscal year.

HIRE Now Tax Cut Extension Act of 2010

United States · United States Congress · 21 July 2010

HIRE Now Tax Cut Extension Act of 2010 - Amends the Internal Revenue Code to extend until June 30, 2011, the exemption from payment of employment taxes for individuals who begin employment after July 22, 2010.

Veterinary Medicine Loan Repayment Program Enhancement Act

United States · United States Congress · 21 July 2010

Veterinary Medicine Loan Repayment Program Enhancement Act - Amends the Internal Revenue Code to exclude from gross income payments under the federal veterinary medicine loan repayment program or any other state loan repayment or forgiveness program that is intended to provide for increased access to veterinary services in such state.

DISCLOSE Act

United States · United States Congress · 21 July 2010

Democracy is Strengthened by Casting Light on Spending in Elections Act or the DISCLOSE Act - Amends the Federal Election Campaign Act of 1971 (FECA) to prohibit: (1) independent expenditures and payments for electioneering communications by government contractors if the value of the contract is at least $10 million; and (2) recipients of assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA) from making any contribution to any political party, committee, or candidate for public office, or to any person for any political purpose or use, or from making any independent expenditure or disbursing any funds for an electioneering communication. Applies the ban on contributions and expenditures by foreign nationals to foreign-controlled domestic corporations. Requires the highest ranking official of a corporation, before making any contribution, donation, expenditure, independent expenditure, or disbursement for an electioneering communication in connection with a federal election, to file a certification with the Federal Election Commission (FEC), if this has not been done already, that the corporation is not prohibited from carrying out such activity. Declares that nothing prohibits any domestic corporation from establishing, administering, and soliciting contributions to a separate segregated fund, so long as: (1) none of the amounts in the fund are provided by any prohibited foreign national; and (2) no such foreign national has the power to direct, dictate, or control the fund. Declares that nothing prohibits any domestic corporation from making a contribution or donation in connection with a state or local election to the extent permitted under state or local law, so long as no such foreign national has the power to direct, dictate, or control such contribution or donation. Declares that nothing prohibits any domestic corporation from making communications to its stockholders and executive or administrative personnel and their families or initiating nonpartisan registration and get-out-the-vote campaigns, so long as: (1) none of the amounts used to carry out such activity are provided by any such foreign national; and (2) no such foreign national has the power to direct, dictate, or control such activity. Treats as contributions: (1) any payments by any person (except a candidate, a candidate's authorized committee, or a political committee of a political party) for coordinated communications; and (2) political party communications made on behalf of candidates if made under the control or direction of a candidate or a candidate's authorized committee. Defines "coordinated communication" as: (1) a publicly distributed or disseminated communication referring to a candidate or the candidate's opponent which is made during a specified election period in cooperation, consultation, or concert with, or at the request or suggestion of, a candidate, a candidate's authorized committee, or a political committee of a political party; or (2) any communication that republishes, disseminates, or distributes, in whole or in part, any broadcast or any written, graphic, or other form of campaign material prepared by a candidate, a candidate's authorized committee, or their agents. Repeals the prohibition against contributions by individuals age 17 or younger. Prohibits a communication which is disseminated through the Internet from being treated as a form of general public political advertising unless the communication was placed for a fee on another person's website. Revises the definition of independent expenditure to mean, in part, an expenditure that, when taken as a whole, expressly advocates the election or defeat of a clearly identified candidate, or is the functional equivalent of express advocacy. Requires any person making independent expenditures exceeding $10,000 to: (1) file a report electronically within 24 hours; and (2) file a new report electronically each time the person makes or contracts to make independent expenditures in an aggregate amount equal to or greater than $10,000 (or $1,000, if less than 20 days before an election) with respect to the same election. Increases from 60 days to 120 days the period before a general election during which a communication shall be considered an electioneering communication. Requires mandatory electronic filing by persons making independent expenditures or electioneering communications exceeding $10,000 at any time. Requires corporations, labor organizations, tax-exempt charitable organizations, and political organizations other than political committees (covered organizations) to include specified additional information in reports on independent expenditures of at least $10,000, including certain actual or deemed transfers of money to other persons, but excluding amounts paid from separate segregated funds as well as amounts designated for specified campaign-related activities. Requires certain additional information in electioneering communication reports. Sets forth special rules for the use of general treasury funds by covered organizations for campaign-related activity, including both designated and unrestricted donor payments to an organization. Authorizes mutually agreed restrictions on the use of donated funds for campaign-related activity between a covered organization and a person who does not want his or her identity disclosed in a significant funder statement or a Top 5 Funders list. Authorizes covered organizations to make optional use of a separate Campaign-Related Activity Account for making disbursements for campaign-related activity. Requires such an Account to be reduced by the amount of organization revenues attributable to donations or payments from a person other than the covered organization who has mutually agreed with the organization that the organization may not use the donation or payment for campaign-related activity. Requires certain electioneering communications transmitted through radio or television to include an audio statement identifying the name of the political committee responsible. Prescribes additional information to be included in certain radio or television electioneering communications by persons (including significant funders of campaign-related communications of a covered organization) other than a candidate, a candidate's authorized committee, or a political committee of a political party. Prescribes a format for the individual disclosure statement. Indexes certain amounts. Amends the Lobbying Disclosure Act of 1995 to require registered lobbyists to report information on independent expenditures or electioneering communications of at least $1,000 to the Secretary of the Senate and the Clerk of the House of Representatives. Amends FECA to require Senate candidates to file all designations, statements, and reports directly with the FEC. Requires covered organizations to disclose to shareholders, members, or donors information on disbursements for campaign-related activity. Requires a covered organization that maintains an Internet site to post on it a hyperlink from its homepage to the location on the FEC website containing information required to be reported with respect to public independent expenditures, including disbursements for electioneering communications. Authorizes judicial review of the provisions of this Act by the U.S. District Court for the District of Columbia, and on appeal by the Court of Appeals for the District of Columbia Circuit. Grants Members of Congress the right to: (1) bring an action to challenge the constitutionality of a provision of this Act; or (2) intervene in any action challenging the constitutionality of a provision of this Act, either in support of or opposition to the position of a party to the case.

Thermal Renewable Energy and Efficiency Act of 2010

United States · United States Congress · 21 July 2010

Thermal Renewable Energy and Efficiency Act of 2010 - Amends the Internal Revenue Code to extend the tax credit for the production of electricity from renewable resources to the production of thermal energy and to include a naturally occurring cold water source as a qualified energy resource and a natural air conditioning system facility as a qualified facility for purposes of such credit. Modifies the definition of "local heating and cooling facilities" for purposes of tax-exempt facility bonds to include equipment for producing thermal energy in the form of hot water, chilled water, or steam, distributing that thermal energy in pipelines, and transferring the thermal energy. Defines "thermal energy" as heat (in the form of hot water or steam) or cooling (in the form of chilled water or ice). Amends the Energy Policy and Conservation Act, with respect to the energy sustainability and efficiency grant and loan program for institutions, to: (1) include a not-for-profit district energy system as an institutional entity for purposes of such grant program; (2) increase the amounts of technical assistance grants and grants for efficiency improvement and energy sustainability; and (3) extend the authorization of appropriations for such grant program through FY2015.

A joint resolution proposing an amendment to the Constitution of the United States relative to a balanced budget.

United States · United States Congress · 21 July 2010

Constitutional Amendment - Requires Congress to adopt for each fiscal year a budget that sets forth the total receipts and outlays of the United States. Requires a three-fifths rollcall vote of each chamber to adopt a budget in which total outlays exceed total receipts. Prohibits Congress from passing and the President from signing any bill which would cause the total outlays for any year to exceed the total expenditures in the budget for such year. Bars receipts in any year from being retained for use of the Treasury in an amount which exceeds as a proportion of the national income, that retained for the prior year, unless a bill directed solely at approving a specific increase in such proportion has been passed by a majority of each chamber and has become law. Authorizes waivers of these provisions when a declaration of war is in effect. Requires a two-thirds rollcall vote of each chamber to adopt an increase in federal taxes. States that if in any fiscal year the percentage of growth of Gross Domestic Product (GDP) is negative, discretionary spending, excluding spending for defense and homeland security, in the next fiscal year shall not exceed the level of such spending for the preceding fiscal year reduced by that GDP percentage of negative growth.

Thermal Renewable Energy and Efficiency Act of 2010

United States · United States Congress · 21 July 2010

Thermal Renewable Energy and Efficiency Act of 2010 - Amends the Internal Revenue Code to extend the tax credit for the production of electricity from renewable resources to the production of thermal energy and to include a naturally occurring cold water source as a qualified energy resource and a natural air conditioning system facility as a qualified facility for purposes of such credit. Modifies the definition of: (1) "local heating and cooling facilities" for purposes of tax-exempt facility bonds to include equipment for producing thermal energy in the form of hot water, chilled water, or steam, distributing that thermal energy in pipelines, and transferring the thermal energy; and (2) "open-loop biomass" for purposes of thermal energy facilities. Defines "thermal energy" as heat (in the form of hot water or steam) or cooling (in the form of chilled water or ice). Amends the Energy Policy Act of 2005, with respect to federal requirements for the purchase of renewable energy, to expand the definition of "biomass" and provide a definition of "federal land" and "Indian land." Amends the Energy Policy and Conservation Act, with respect to the energy sustainability and efficiency grant and loan program for institutions, to: (1) include a not-for-profit district energy system as an institutional entity for purposes of such grant program; (2) increase the amounts of technical assistance grants and grants for efficiency improvement and energy sustainability; and (3) extend the authorization of appropriations for such grant program through FY2015.

STORAGE 2010 Act

United States · United States Congress · 20 July 2010

Storage Technology for Renewable and Green Energy Act of 2010 or the STORAGE 2010 Act - Amends the Internal Revenue Code to: (1) allow, through 2019, a 20% energy tax credit for investment in energy storage property that is directly connected to the electrical grid (i.e., a system of generators, transmission lines, and distribution facilities) and that is designed to receive. store, and convert energy to electricity, deliver it for sale, or use such energy to provide improved reliability or economic benefits to the grid; (2) make such property eligible for new clean renewable energy bond financing; (3) allow a 30% energy tax credit for investment in energy storage property used at the site of energy storage; and (4) allow a 30% nonbusiness energy property tax credit for the installation of energy storage equipment in a principal residence.

Enabling the Nuclear Renaissance Act

United States · United States Congress · 20 July 2010

Enabling the Nuclear Renaissance Act - Expresses the sense of Congress that: (1) nuclear energy shall be considered clean energy; (2) any provision of federal law relating to clean energy shall be considered to include nuclear energy as a form of clean energy; and (3) nuclear energy is a renewable-equivalent for purposes of a renewable energy standard. Amends the Internal Revenue Code to create: (1) a five-year accelerated depreciation period for tangible property used in the manufacturing of an advanced nuclear power facility; (2) a nuclear power facility construction credit; (3) advanced energy project tax credits for nuclear power facilities; and (4) an American Society of Mechanical Engineers (ASME) nuclear certification credit. Directs the Secretary of the Treasury to award a grant to each qualified public entity which places in service a qualified nuclear power facility in order to reimburse it for a portion of its nuclear power facility expenditures. Amends the Omnibus Appropriations Act, 2009 to increase the funding for loan guarantee commitments under the Title 17 Innovative Technology Loan Guarantee Program. Amends the Energy Policy Act of 2005 (EPA) to revise requirements for the loan guarantees. Amends EPA to direct the Secretary of Energy to offer to enter into cooperative agreements to develop and license specified small modular reactors with a rated capacity under 350 electrical megawatts. Amends the Atomic Energy Act of 1954 to: (1) modify licensing procedures; (2) direct the Nuclear Regulatory Commission (NRC) to assume the availability of sufficient capacity to timely dispose of spent nuclear fuel and high-level radioactive waste from the operation of the nuclear facility on a license application; and (3) prescribe environmental reviews for nuclear energy projects. Authorizes appropriations for training the next generation nuclear workforce. Directs the Secretary of Energy to establish: (1) the National Nuclear Energy Council; (2) the Energy Park Initiative; (3) the Advisory Committee on Energy Park Development; and (4) the N Prize Program. Amends the Atomic Energy Act of 1954 to establish a tax-exempt United States Nuclear Fuel Management Corporation to assume federal responsibility for spent nuclear fuel management. Establishes in the Treasury the United States Nuclear Fuel Management Corporation Fund.

To prohibit the use of Federal funds for the subsidization of Amtrak sleeper class service, and for other purposes.

United States · United States Congress · 20 July 2010

Directs Amtrak to ensure that fares charged for sleeper class service on all Amtrak long-distance routes are priced to equal all of the operating costs for providing such service. Requires Amtrak to discontinue such service in cases where total service costs exceed total revenues for the service for the first full fiscal year beginning after enactment of this Act. Prohibits Amtrak from using federal funds to subsidize sleeper class service.

SDHV Energy Efficiency Standards for America Act of 2010

United States · United States Congress · 20 July 2010

SDHV Energy Efficiency Standards for America Act of 2010 - Amends the Energy Policy and Conservation Act to revise energy conservation standards for central air conditioners and central air conditioning heat pumps by requiring: (1) the seasonal energy efficiency ratio of small-duct, high-velocity systems to be no less than 11.00 for products manufactured on or after January 23, 2006; and (2) the heating seasonal performance factor of such systems to be 6.8 for products manufactured on or after such date. Defines "small-duct, high-velocity systems" to mean a heating and cooling product that contains a blower and indoor coil combination that: (1) is designed for, and produces, at least 1.2 inches of external static pressure when operated at the certified air volume rate of 220-350 cubic feet per minute per rated ton of cooling; and (2) when applied in the field, uses high velocity room outlets generally greater than 1,000 feet per minute that have less than 6.0 square inches of free area. Authorizes the Secretary of Energy to amend by rule the standards established for such systems. Prohibits amended standards from taking effect less than five years after the final rule making the amendment is published. Requires the Secretary to determine whether standards for such systems should be amended no later than June 30, 2011. Amends the Internal Revenue Code to include within the definition of "energy-efficient building property" for purposes of the tax credit for nonbusiness energy property a small-duct, high-velocity central air conditioning and heat pump system. Allow such credit through December 31, 2013.

Close Foreign Tax Loopholes: Make it in America Act of 2010

United States · United States Congress · 20 July 2010

Close Foreign Tax Loopholes: Make it in America Act of 2010 - Amends the Internal Revenue Code, with respect to the taxation of foreign income and the foreign tax credit, to: (1) suspend the recognition of foreign tax credits until the related foreign income is taken into account for U.S. tax purposes; (2) deny a foreign tax credit for foreign income not subject to U.S. taxation due to a covered asset acquisition (defined as an acquisition that results in an increase in tax basis for U.S. tax purposes but not for foreign tax purposes); (3) apply a separate foreign tax credit limitation for each item of income that would be treated as derived from sources within the United States and that would be treated as arising from sources outside the United States under a treaty obligation (if the taxpayer chooses the benefits of such treaty); (4) limit the amount of foreign tax credits that may be claimed by a U.S. domestic corporation with respect to a deemed dividend paid by a foreign subsidiary; (5) prevent a reduction in earnings in profits of a foreign corporation in an acquisition if more than 50% of the dividends arising from such acquisition would not be subject to U.S. taxation or would be includible in the earnings and profits of a controlled foreign corporation; (6) treat a foreign corporation as a member of an affiliated group for interest allocation and apportionment purposes if more than 50% of its gross income is effectively connected with a U.S. trade or business and at least 80% of either the vote or value of its outstanding stock is owned directly or indirectly by members of the affiliated group; (7) repeal tax rules exempting foreign source income attributable to the active conduct of a foreign trade or business from withholding of tax requirements; (8) treat as income received in the United States amounts received from noncorporate residents or domestic corporations with respect to guarantees and amounts paid by any foreign person if such amounts are connected with income that is effectively connected with the conduct of a trade or business in the United States; and (9) provide that the statute of limitations for assessing any tax on certain foreign transactions shall apply only to items related to a failure to provide information to the Internal Revenue Service (IRS) due to reasonable cause and not willful neglect.

Investing in Our Future Act of 2010

United States · United States Congress · 20 July 2010

Investing in Our Future Act of 2010 - Amends the Internal Revenue Code to impose an excise tax on currency transactions exceeding $10,000 equal to 0.005% of the value of the currency acquired in the transaction (currency transaction tax). Establishes in the Treasury: (1) the Child Care Assistance Trust Fund, which shall be funded with 20% of the revenues from the currency transactions tax and which shall be used to provide increased allocations to states for child care assistance; (2) the Multilateral Global Health Trust Fund, which shall be funded with 40% of the revenues from such tax and from which the Secretary of State shall make grants to assist developing countries in addressing HIV/AIDS, tuberculosis, malaria, maternal mortality, family planning, neglected diseases, and other health issues; and (3) the Global Climate Change Adaptation and Mitigation Trust Fund, which shall be funded with 40% of the revenues from such tax and which shall be used for contributions to a United Nations Framework Convention on Climate Change global climate fund for climate change adaptation and mitigation.

Reduce and End our Deficits Using Commonsense Eliminations in the Energy Program Act of 2010

United States · United States Congress · 20 July 2010

Reduce and End our Deficits Using Commonsense Eliminations in the Energy Program Act of 2010 - Amends the Surface Mining Control and Reclamation Act of 1977 to terminate allocations of abandoned mine reclamation fees, except payments for health benefits, to states and Indian tribes that are certified to have completed coal mining reclamation. Amends the Internal Revenue Code to terminate: (1) the enhanced oil recovery credit; (2) the credit for oil and gas produced from marginal wells; (3) the expensing of intangible drilling costs; (4) the deduction for tertiary injectants; (5) the exception to the passive loss limitation for working interests in oil and natural gas properties; (6) the percentage depletion deduction for oil and natural gas wells; and (7) the domestic manufacturing tax deduction for oil and natural gas companies. Increases to seven years the geological and geophysical amortization period for independent producers. Amends the Energy Policy Act of 2005 to repeal authority for: (1) the oil and gas research programs; (2) the low-volume oil and gas reservoir program; and (3) the Complex Well Technology Testing Facility at the Rocky Mountain Oilfield Testing Center. Instructs the Secretary of Energy to: (1) discontinue the application before the Nuclear Regulatory Commission (NRC) for a license to construct a high-level nuclear waste geologic repository at Yucca Mountain, Nevada; (2) plan for the sale of federally owned and operated electric energy generation facilities under the supervision of, or working in coordination with, the Southeastern Power Administration (SEPA); and (3) terminate SEPA following such sale. Excludes from such sale any dam, reservoir, or waterfront property. Directs the Tennessee Valley Authority (TVA) to sell the rights and assets of its electric power program. Excludes from the sale any hydroelectric power generation facility owned and operated by TVA (including dams and appurtenant works and structures). Deems the remaining net proceeds from any such sale, after offset for sale costs, to extinguish the outstanding debt repayable to the United States and attributable to the assets being sold. Amends the Energy Policy and Conservation Act to decrease the storage capacity of the Strategic Petroleum Reserve from 1 billion to 650 million barrels. Amends the Energy Policy Act of 2005 to repeal the Secretary's program authority for research, development, demonstration, and commercial application of technologies for ultra-deepwater and unconventional natural gas and other petroleum resource exploration and production.

Manufacture Renewable Energy Systems: Make it in America Act of 2010

United States · United States Congress · 20 July 2010

Manufacture Renewable Energy Systems: Make it in America Act of 2010 - Authorizes federal acquisition of, or the provision of federal funds to states for purchase of, only green technologies that are 100% manufactured in the United States from articles, materials, or supplies that are 100% grown, produced, or manufactured in the United States beginning in the fourth fiscal year after enactment of this Act. Provides that such percentage shall be 30% in the first fiscal year after enactment, 50% in the second fiscal year, and 80% in the third fiscal year. Defines "green technologies" to mean renewable energy and energy efficiency products and services that: (1) reduce dependence on unreliable sources of energy by encouraging the use of sustainable biomass, wind, small-scale hydroelectric, solar, geothermal, and other renewable energy and energy efficiency products and services; and (2) use hybrid fossil-renewable energy systems. Amends the Internal Revenue Code to prohibit treating any facility originally placed in service after December 31, 2013, as a qualified facility for purposes of the renewable energy production and investment tax credits unless such facility is 100% manufactured in the United States from articles, materials, or supplies that are 100% grown, produced, or manufactured in the United States. Provides that such percentage shall be 30% for a facility placed in service during 2011, 50% for a facility placed in service during 2012, and 80% for a facility placed in service during 2013.

Reduce and End our Deficits Using Commonsense Eliminations in the Treas-HUD and OPIC Programs Act

United States · United States Congress · 20 July 2010

Reduce and End our Deficits Using Commonsense Eliminations in the Treas-HUD and OPIC Programs Act - Prohibits the total amount obligated in the Treasury for each of FY2011-FY2015 by: (1) the Bureau of the Public Debt from exceeding $186.244 million; and (2) the Financial Management Service from exceeding $235.132 million. Requires the Secretary of the Treasury, for pay periods ending in FY2011 and subsequent fiscal years, in coordination with the Office of Personnel Management (OPM), to issue electronic pay stubs to Department of the Treasury employees who receive their pay by electronic funds transfer. Amends the Internal Revenue Code to repeal the requirement for advance payment of the earned income tax credit. Amends the United States Housing Act of 1939 to set the payment standard for a market area efficiency dwelling unit as the standard for rent subsidies under Section 8 of the housing voucher program for one-person households. Prohibits the use of the payment standard for a one-bedroom dwelling unit or any larger dwelling unit. OPIC Repeal Act - Abolishes the Overseas Private Investment Corporation (OPIC), and makes conforming amendments to the Foreign Assistance Act of 1961.

Amending the Rules of the House of Representatives to require that Members' official websites include congressional earmark requests and video presentations for requests submitted to committees.

United States · United States Congress · 20 July 2010

Amends Rule XXIII (Code of Official Conduct) of the Rules of the House of Representatives to require each Member, Delegate, or Resident Commissioner (Member) to maintain an official website and include on it a comprehensive, sortable, and searchable database comprising all congressional earmark requests for the current fiscal year and for the budget year, including for each such request: (1) the name and address of any recipient; (2) the purpose of the earmark; (3) its merits; (4) whether it meets applicable eligibility requirements (if any); (5) the amount requested; and (6) in the case of the Committee on Appropriations, a video presentation by the intended recipient with a link for public comment. Authorizes each Member to waive the requirement for a video presentation by the intended recipient of a congressional earmark if the Member: (1) determines that the video presentation is unnecessary; and (2) places that determination on the Member's official website.

Intelligence Authorization Act for Fiscal Year 2010

United States · United States Congress · 19 July 2010

Intelligence Authorization Act for Fiscal Year 2010 - Authorizes appropriations for FY2010 for the conduct of intelligence and intelligence-related activities of the: (1) Office of the Director of National Intelligence (DNI); (2) Central Intelligence Agency (CIA); (3) Department of Defense (DOD); (4) Defense Intelligence Agency (DIA); (5) National Security Agency (NSA); (6) Departments of the Army, Navy, and Air Force; (7) Coast Guard; (8) Departments of State, the Treasury, Energy, and Justice; (9) Federal Bureau of Investigation (FBI); (10) Drug Enforcement Administration (DEA); (11) National Reconnaissance Office; (12) National Geospatial-Intelligence Agency; and (13) Department of Homeland Security (DHS). Specifies that the amounts authorized and the authorized personnel ceilings as of September 30, 2010, for such activities are those specified in the classified Schedule of Authorizations, which shall be made available to the congressional appropriations committees and the President. Allows the DNI to authorize employment of civilian personnel in excess of the number authorized for FY2010 when necessary for the performance of important intelligence functions. Requires notification of the intelligence committees on the use of such authority. Authorizes appropriations for the Intelligence Community Management Account for FY2010, as well as for full-time personnel for elements within such Account. Authorizes appropriations for FY2010 for the Central Intelligence Agency Retirement and Disability Fund. Allows authorizations for salary, pay, retirement, and other benefits to be increased by such additional or supplemental amounts as necessary for increases in such compensation or benefits authorized by law. Outlines provisions concerning the intelligence community, including: (1) personnel matters; (2) education programs; (3) acquisition matters; and (4) congressional oversight, plans, reports, and other matters. Outlines provisions relating to: (1) the Office of the DNI; (2) the CIA; (3) defense intelligence components; and (4) other elements of the intelligence community. Establishes: (1) an Office of Inspector General of the Intelligence Community; (2) a Chief Financial Officer of the Intelligence Community; and (3) a Deputy Director of the Central Intelligence Agency. Amends the Intelligence Authorization Act for Fiscal Year 2001 to provide for a reorganization of the Diplomatic Telecommunications Service Program Office. Foreign Intelligence and Information Commission Act - Establishes the Foreign Intelligence and Information Commission.

Fuel Cell Industrial Vehicle Jobs Act of 2010

United States · United States Congress · 19 July 2010

Fuel Cell Industrial Vehicle Jobs Act of 2010 - Amends the Internal Revenue Code to: (1) continue the maximum dollar amount (i.e., $8,000) of the tax credit for new qualified fuel cell motor vehicles after 2009; and (2) allow such credit for a vehicle which is manufactured primarily to carry or tow loads or materials for commercial or industrial purposes (off-highway vehicles).

Grant Accessibility and Transparency Enhancement Act of 2010

United States · United States Congress · 19 July 2010

Grant Accessibility and Transparency Enhancement Act of 2010 - Requires the President to establish the National Commission on Earmark Reform to: (1) study the laws and practices related to replacing earmarks with a full grant making process; and (2) develop a plan to transition from congressional member-directed earmarks to a grant making process. Requires the Commission to propose legislative or regulatory changes to implement: (1) a grant making application and review process under which a panel of subject area experts reviews and awards grant funding on a merit-based system; and (2) a specific governance structure for all grant functions, including grants management, within the federal government. Requires the Director of the Office of Management and Budget (OMB) to establish the Office of Grant Making within OMB to: (1) direct and coordinate the development of the expert grant award panels and the specific recommendations of the Commission; and (2) be responsible for maintaining Grants.gov. Prescribes requirements to streamline the role of federal agencies in the grant making process. Requires all federal grants, both formula and discretionary, from all grant making agencies to be posted on Grants.gov. Requires the Director to ensure that duplication of effort and dual systems related to online federal grant activity are no longer in effect by merging USASpending.gov into Grants.gov. Amends the Congressional Budget Act of 1974 to make it out of order in both chambers to consider any legislation or accompanying report that contains any congressional earmark or limited tax or tariff benefit.

Offshore Wind Power Act of 2010

United States · United States Congress · 19 July 2010

Offshore Wind Power Act of 2010 - Amends the Internal Revenue Code to allow a 30% energy investment tax credit for qualified offshore wind energy property for periods ending before January 1, 2017. Defines "qualified offshore wind energy property" as property which uses wind to generate electricity and is located in the coastal waters of the United States or the Great Lakes.

Oil Independence for a Stronger America Act of 2010

United States · United States Congress · 15 July 2010

Oil Independence for a Stronger America Act of 2010 - Establishes in the Executive Office of the President a national energy security program to coordinate federal activities and policies to reduce oil consumption by 8 million barrels per day by calendar 2030. Directs the President to develop a national oil independence plan to meet or exceed such goal. Establishes also in the Executive Office a National Energy Security Council to assist and advise the President in setting and meeting the national oil independence goal. Directs the Secretary of Transportation (DOT) and the Administrator of the Environmental Protection Agency (EPA) to promulgate joint regulations establishing corporate average fuel economy standards and greenhouse gas emissions limitations for: (1) light-, medium-, and heavy-duty vehicles manufactured for each of model years 2017-2030; and (2) nonroad vehicles. Establishes within the Department of Energy (DOE) a national electric drive vehicle deployment program and a targeted electric drive vehicle deployment communities program. Requires the Secretary of Energy to develop a national plan for electric drive vehicle deployment, including specified goals for deployment of plug-in electric drive vehicles. Amends the Internal Revenue Code to: (1) allow a refundable personal tax credit to a qualified deployment community taxpayer who purchases a new qualified plug-in electric drive motor vehicle and resides in a selected deployment community; (2) revise the new qualified hybrid motor vehicle credit; and (3) extend and revise the credit for alternative fuel vehicle refueling property. Creates tax-exempt qualified plug-in electric drive motor vehicle refueling property bonds. Amends the Public Utility Regulatory Policies Act of 1978 (PURPA) to require each electric utility to develop a plan to support the use of plug-in electric drive vehicles. Requires the Federal Energy Management Program and the General Services Administration (GSA) to assess the conversion of federal government fleets to plug-in electric drive vehicles. Directs the GSA Administrator to acquire such vehicles and charging infrastructure and deploy them in a range of locations in the federal fleet. Directs the Secretary of Energy to establish the Advanced Batteries for Tomorrow Prize to advance research, development, demonstration, and commercial application of a 500-mile vehicle battery. Creates in the Treasury a 500-mile Battery Fund. Requires the Secretary of Energy to establish a research and development funding program for advanced batteries, electric drive vehicle components, electric drive infrastructure, and other related technologies. Requires the Secretary of the Interior to study and report to Congress on the supply of raw materials needed for the manufacture of plug-in electric drive vehicles, batteries, and related components and for supporting infrastructure. Establishes the Plug-in Electric Drive Vehicle Technical Advisory Committee to advise the Secretary of Energy. Directs the President to establish a Plug-in Electric Drive Vehicle Interagency Task Force. Requires disposal of an advanced battery from a plug-in electric drive vehicle in accordance with the Solid Waste Disposal Act. Amends the Energy Independence and Security Act of 2007 to direct the Secretary of Energy to guarantee loans to eligible entities for the aggregate purchase of not fewer than 200 qualified automotive batteries (designed for use in qualified plug-in electric drive motor vehicles but purchased for nonautomotive applications) in a calendar year with a total minimum power rating of one megawatt and advanced battery technology. Requires the Secretary of Energy to: (1) develop and publish model building codes, permitting and inspection processes, and zoning or parking rules; and (2) award grants to institutions of higher education and others for programs to train and educate vocational workforce through centers of excellence. Amends the Internal Revenue Code to allow a tax credit for grid-interactive plug-in vehicles. Amends the Clean Air Act to direct the EPA Administrator to promulgate regulations to establish: (1) national transportation-related goals for reducing oil consumption and greenhouse gas emissions; and (2) standardized models and related methods for states, metropolitan planning organizations (MPOs), and air quality agencies to address oil savings and emission reduction goals. Requires metropolitan planning areas and states to develop surface transportation-related oil savings and greenhouse gas emission reduction targets, as well as strategies to meet those targets. Directs the Secretary of Transportation to distribute funds to states and MPOs for investing in transportation greenhouse gas emission reduction programs. Amends the Internal Revenue Code to increase to $230 the amount of qualified transportation fringe (commuter) benefits excluded from an employee's gross income. Makes it the goal of the United States to shift at least 10% of freight shipped by truck to rail or marine shipping by calendar 2020. Directs the Secretary to: (1) develop a national freight transportation options plan; and (2) make grants to states for the capital costs of facilities, infrastructure, and equipment for high priority rail corridor projects necessary to reduce congestion in freight rail transportation. Requires the Comptroller General to study and reported to specified congressional committees on the benefits and costs of electrification of rail corridors. Amends the Internal Revenue Code to allow an investment tax credit for advanced biofuel facilities as well as grants in lieu of credits for advanced biofuel facility property (under division B of the American Recovery and Reinvestment Act of 2009). Includes algae-based biofuel in the definition of cellulosic biofuel. Extends: (1) the cellulosic biofuel producer credit; (2) the special allowance for cellulosic biofuel plant property; (3) certain credits for biodiesel and renewable diesel; and (4) alcohol fuels tax credits. Allows a tax credit for qualified natural gas motor vehicles, and creates tax-exempt natural gas vehicle bonds. Allows an expensing deduction for manufacturing facilities producing vehicles fueled by compressed or liquefied natural gas. Directs the GSA Administrator to study and report to Congress on means of increasing the number of light-, medium-, and heavy-duty natural gas and liquefied petroleum gas vehicles in the federal fleet. Establishes in DOE an Energy Efficiency Improvement for Heating Oil, Propane, and Kerosene Program to fund state participation in programs operated by a national oilheat research alliance or the Propane Education and Research Council to carry out cost-effective energy efficiency programs for homes and buildings that use home heating oil, propane, and kerosene. Directs the Secretary of Energy to establish a renewable biomass thermal energy loan program of grants to states to support financial assistance by qualified program delivery entities to replace with certain wood or wood-pellet fired boilers any thermal energy systems in commercial or multifamily residential buildings that use heating oil or another petroleum product.

Renewable Fuels for America's Future Act of 2010

United States · United States Congress · 15 July 2010

Renewable Fuels for America's Future Act of 2010 - Amends the Internal Revenue Code to: (1) require a reduction in the income and excise tax credits for alcohol used for fuel by the amount of alcohol used to meet the taxpayer's renewable fuel obligation under the Clean Air Act; and (2) extend such credits through 2015. Amends the Harmonized Tariff Schedule of the United States to extend until 2016 the additional tariff on ethyl alcohol blends (ethanol) used as fuel. Requires automobile manufacturers to ensure that at least 50% of 2012 and 2013 model year automobiles and light duty trucks manufactured for sale in the United States are dual fueled. Increases the minimum to 90% for later model years. (Excludes automobiles and light duty trucks that operate only on electricity.) Requires the Secretary of Energy to make grants to eligible facilities to pay the federal share of: (1) installing blender pump fuel infrastructure, including infrastructure necessary for the direct retail sale of ethanol fuel blends (including E-85 fuel) and to directly market such fuels to gas retailers; and (2) providing subgrants to direct retailers of such fuels for the installation of fuel infrastructure for the direct retail sale of such fuels. Amends the Clean Air Act to define: (1) "E-85 fuel" as a blend of gasoline at least 85% derived from ethanol; and (2) "ethanol fuel blend" as a blend of gasoline and ethanol, with a minimum of 0% and maximum of 85% derived from denatured ethanol. Requires the Secretary to promulgate regulations to ensure that each major fuel distributor that sells or introduces gasoline into commerce in the United States through majority-owned stations or branded stations installs one or more blender pumps that dispense E-85 fuel and ethanol fuel blends at specified minimum percentages of such stations for specified years in each state. Allows major fuel distributors to earn and sell credits if they exceed such percentages.

To amend the Internal Revenue Code of 1986 to increase for 2 years the residential energy credit and the investment tax credit with respect to solar property with a nameplate capacity of less than 20 kilowatts.

United States · United States Congress · 15 July 2010

Amends the Internal Revenue Code to increase the rate of the residential energy tax credit and the energy investment tax credit to 50% in 2010 and 2011 for qualified solar electric property expenditures with respect to property that has a nameplate capacity of less than 20 kilowatts (or the thermal energy equivalent).

Responsible Estate Tax Act

United States · United States Congress · 15 July 2010

Responsible Estate Tax Act - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009 (thus restoring prior law). Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act ( Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) revise estate tax brackets for estates over $750,000 and impose a maximum tax rate of 55% on estates over $50 million; (2) impose a 10% surtax on estates over $500 million; (3) increase to $3 million the reduction in valuations of farmland for estate tax puposes; (4) increase to $2 million the maximum estate tax exclusion for contributions of conservation easements; (5) require executors of estates to file information returns and provide valuations and consistent basis information to persons acquiring property from decedents or by gift; (6) set forth estate valuation rules for certain transfers of nonbusiness assets and limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent; and (7) revise rules for valuing assets in grantor retained annuity trusts to require that the right to receive fixed amounts from an annuity last for a term of not less than 10 years, that such fixed amounts not decrease during the first 10 years of the annuity term, and that the remainder interest have a value greater than zero when transferred.

Revitalizing American Manufacturing Act of 2010

United States · United States Congress · 15 July 2010

Revitalizing American Manufacturing Act of 2010 - Amends the Internal Revenue Code to: (1) extend through 2013 and increase the amounts of the tax credit for energy efficient appliances (i.e., dishwashers, clothes washers, and refrigerators which meet certain energy efficiency standards); (2) provide that the aggregate amount of the credit for such appliances, other than certain energy efficient refrigerators or clothes washers, shall be reduced by the amount of such credit allowed for all prior taxable years beginning after December 31, 2010 (currently, after December 31, 2007); and (3) provide that the allowable amount of such credit may not exceed 4% of taxpayer average annual gross receipts (currently, 2%).

Innovative Technologies Investment Incentive Act of 2010

United States · United States Congress · 15 July 2010

Innovative Technologies Investment Incentive Act of 2010 - Amends the Internal Revenue Code to allow a new business-related tax credit for 25% of the equity investment (i.e., stock and capital or profits interest) in a small business concern that is engaged in a high technology or biotechnology trade or business and employs an average of fewer than 500 employees in a taxable year. Establishes a national innovative technology investment credit limitation of $500 million.

Solar EDGE Act

United States · United States Congress · 15 July 2010

Solar Expansion of Distributed Generation Exponentially Act or the Solar EDGE Act - Amends the Internal Revenue Code to increase the rate of the residential energy tax credit and the energy investment tax credit to 50% in 2010 and 2011 for qualified solar electric property expenditures with respect to property that has a nameplate capacity of less than 20 kilowatts (or the thermal energy equivalent).

United States Postal Service's CSRS Obligation Modification Act of 2010

United States · United States Congress · 15 July 2010

United States Postal Service's CSRS Obligation Modification Act of 2010 - Prescribes the "average pay" and the appropriate percentage thereof to be used in determining annuities for civilian employment with the United States Postal Service (USPS) for purposes of provisions relating to future benefits attributable to such employment in order to calculate the amount of any Postal surplus or supplemental liability under the Civil Service Retirement System. Requires the Office of Personnel Management (OPM): (1) within six months after enactment of this Act, to determine (or, if applicable, redetermine) the amount of such surplus or liability as of the close of the most recently ending fiscal year using the methodology required under this Act; and (2) if the result is a surplus, to transfer the surplus amount to the Postal Service Retiree Health Benefits Fund.

PACE Assessment Protection Act of 2010

United States · United States Congress · 15 July 2010

PACE Assessment Protection Act of 2010 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to adopt underwriting standards that are consistent with the Guidelines for Pilot PACE Financing Programs issued on May 7, 2010, by the Department of Energy (DOE). Provides that liens or other property obligations that secure property taxes or assessments under a PACE program and that are consistent with such standards shall be considered to comply with the Uniform Instruments of Fannie Mae and Freddie Mac and shall not constitute a default on an existing mortgage or trigger the exercise of lender's remedies for a property with such a lien. Defines a "PACE program" as a property assessed clean energy program under which a state or political subdivision levies taxes or assessments on real property to finance the installation of renewable energy and energy efficiency improvements. Prohibits Fannie Mae and Freddie Mac from requiring repayment of a PACE program tax or assessment in order for a property owner to finance, refinance, or transfer property that meets their underwriting criteria without consideration of the PACE program lien. Requires the underwriting standards to provide that, in the event that a tax or assessment under a PACE program is delinquent, only the unpaid delinquent amount along with applicable penalties, interest, and costs will be subject to foreclosure and not the entire amount. Prohibits the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and all federal agencies and entities chartered under federal law from discriminating against communities implementing or participating in a PACE program.

District of Columbia National Disaster Insurance Protection Act

United States · United States Congress · 15 July 2010

District of Columbia National Disaster Insurance Protection Act - Amends the Internal Revenue Code to provide for a tax-exempt natural disaster protection fund held by an insurance company that: (1) is incorporated and domiciled in the District of Columbia; (2) is subject to supervision by the District of Columbia Commissioner of Insurance, Securities, and Banking; (3) maintains an office in the District of Columbia that employs no fewer than 10 full-time employees, at least 5 of whom are District of Columbia residents; (4) is subject to taxes imposed by the District of Columbia on premiums for natural catastrophic risk coverage; and (5) is not subject to premium taxes imposed by any state or other taxing jurisdiction for natural catastrophic risk coverage written through the fund. Allows distributions from such fund to cover losses attributable to wind (including hurricanes and tornadoes), earthquakes, floods, tsunami or tidal wave, volcanic eruption, fire, hail, snow, ice freezing, or other winter catastrophes, or a pandemic or other public health catastrophe. Sets forth tax rules for contributions to and distributions from such fund.

Transparent and Sustainable Budget Act of 2010

United States · United States Congress · 15 July 2010

Transparent and Sustainable Budget Act of 2010 - Requires the President's annual budget to include: (1) a scorecard of progress in meeting debt and deficit reduction targets; (2) a plan for long-term fiscal sustainability, defined as reducing to within 10 fiscal years and then maintaining a debt to potential gross domestic product (GDP) ratio of up to 60% and an annual deficit to GDP ratio of up to 3%; and (3) a supplemental report from the Director of the Office of Management and Budget (OMB) of the nonbudgeted fiscal exposures of the government. Expresses the sense of Congress that the recommendations reported to Congress by the National Commission on Fiscal Responsibility and Reform should receive prompt consideration, and that neither chamber should obstruct a final roll call vote on such recommendations. Requires the OMB director to issue Quadrennial Fiscal Sustainability Reports. Requires a joint session of Congress to be convened every October at which the President shall be invited to give an address on the long-term fiscal sustainability of the government. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to prescribe requirements for a discounted baseline, an alternative projection of current-year levels of new budget authority, outlays, revenues, and the surplus or deficit into the budget year and the outyears, for a minimum of 30 years, annually discounted for: (1) the present value of money, set at the prevailing interest rate for 30-year Treasury bonds; and (2) the uncertainty of policies announced for the outyears, set at 10%. Amends the Congressional Budget Act of 1974 (CBA) to require the Congressional Budget Office (CBO) to prepare: (1) an alternative net cost estimate for each public bill or joint resolution reported by any congressional committee (except the congressional appropriations committees), including amendments and conference reports; and (2) a statement of whether the measure's alternative net cost would exceed $5 billion. Makes it out of order in both chambers to consider the legislation if it does exceed such cost, as adjusted annually for inflation. Requires the CBO Director to make an annual Discounted Score Deficit Control report publicly available. Requires the OMB Director to develop and report to Congress a proposal for the implementation of an accrual-based accounting system for certain portions of the budget. Requires the OMB Director also to report to Congress on the various scenarios by which the receipts and disbursements of the following entities could be counted as new budget authority, outlays, receipts, or deficit or surplus for the purposes of the federal budget: (1) government-sponsored enterprises (GSEs), including the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the various trust funds, including the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Highway Trust Fund. Amends the CBA to require reports to Congress by the Joint Committee on Taxation identifying tax expenditures to include: (1) an aggregate net cost of tax expenditures that estimates the net impact of all tax expenditures on tax revenues; and (2) a comparison of this aggregate net cost with the total revenue currently raised by the Internal Revenue Code. Amends the Congressional Budget and Impoundment Control Act of 1974 to define "tax subsidy" to mean those tax expenditures that: (1) are deliberately inconsistent with an identifiable general rule of the present tax law; and (2) collect less revenue than does the general rule. Amends the CBA to set forth points of order against consideration of legislation establishing new tax expenditures, or containing a new tax subsidy or modifying an existing one, unless certain requirements are met, including a macroeconomic impact analysis. Prescribes requirements for executive branch reporting of tax expenditures. Requires the Secretary of the Treasury to develop and report to Congress on the legislative steps necessary to implement an electronic income tax filing system. Requires: (1) the Government Accountability Office (GAO) to publish written recommendations for improving the rules of the Internal Revenue Service (IRS) to facilitate the evaluation of tax expenditures; and (2) the Secretary of the Treasury to report to Congress on how the Secretary intends to use the IRS panel data sample created to facilitate the evaluation of savings-related tax expenditures. Requires the CBO Director to conduct, on an ongoing basis, performance reviews of tax expenditures, as identified by the Joint Committee on Taxation.

[H.A.S.C. No. 111-170]FISCAL YEAR 2011 NATIONAL DEFENSE AUTHORIZATION BUDGET REQUEST FOR OVERSIGHT OF THE ACTIVITIES OF THE MARITIME ADMINISTRATION

United States · United States House of Representatives · 14 July 2010

Carbon Capture and Sequestration Deployment Act of 2010

United States · United States Congress · 14 July 2010

Carbon Capture and Sequestration Deployment Act of 2010 - Requires the Secretary of Energy (DOE) to establish a cooperative industry-government research and development program, in addition to and in cooperation with the Office of Fossil Energy's carbon capture and sequestration research and development program, to demonstrate novel and innovative technologies to: (1) capture or prevent carbon dioxide emissions from carbon-based fuels; (2) enable the beneficial use of carbon dioxide; or (3) enable the long-term storage of carbon dioxide. Requires DOE to conduct an annual assessment of existing federal programs supporting technology preventing the emission of, capturing, transporting, permanently storing, or sequestering, or putting to beneficial use carbon dioxide. Amends the Energy Policy Act of 2005 to authorize $20 billion for loan guarantees for: (1) the construction of new commercial scale electric generation units, or industrial facility units, that are eligible units utilizing carbon capture and sequestration technology; (2) the retrofit of eligible units providing for carbon capture and sequestration; and (3) the construction of pipelines to transport carbon dioxide to sequestration sites or to sites where such carbon dioxide will be used for hydrocarbon recovery. Amends the Internal Revenue Code to: (1) expand the tax credit for carbon dioxide sequestration to include carbon dioxide that is disposed of in secure geologic storage or converted to a stable form to enable permanent sequestration; (2) allow a 30% increase in the qualifying advanced coal project tax credit for the incremental cost for carbon capture and sequestration systems; (3) allow an increase in the carbon dioxide sequestration tax credit for the use of new or retrofit electric utility or industrial units to provide for carbon capture and sequestration in secure geologic storage; and (4) allow issuers of qualified carbon sequestration bonds income and excise tax credits for payments of interest with respect to such bonds. Directs the Secretary to establish a program for the certification of new or retrofit electric or industrial units utilizing carbon capture and sequestration technology eligible to apply for the carbon dioxide sequestration credit. Carbon Capture and Sequestration Early and Effective Deployment Fund Act of 2010 or the CC SEED FUND ACT - Requires the Secretary to establish: (1) a special funding program to support projects to accelerate the commercial availability of carbon capture and sequestration technologies; and (2) a Carbon Capture and Sequestration Program Partnership Council to advise the Secretary on such program. Requires the Secretary to (1) collect an assessment on electric utilities for all fossil fuel-based electricity sold that reflects the relative carbon dioxide emission rates of different fossil fuel-based electricity; and (2) promulgate regulations to determine the level and type of fossil fuel-based electricity delivered by each electric utility. Sets forth provisions concerning the recovery of costs associated with complying with such requirements. Amends the Clean Air Act to require a covered unit (an electric utility generating unit that derives 50% of its annual heat input from coal, petroleum coke, or any combination of such fuels) the owner or operator of which has received a preconstruction approval or permit under such Act on or after this Act's enactment and before January 1, 2020, to achieve by a specified compliance date an emission limit for carbon dioxide that reflects a 50% reduction from the carbon content of the fuel used by the unit. Requires DOE to act as the lead agency for coordinating federal authorizations and related environmental reviews with respect to a project that is eligible to receive a financial incentive under this Act. Carbon Storage Stewardship Act - Sets forth provisions concerning the responsibility for monitoring and remediating certified post-closure storage facilities that provide long-term geologic storage and sequestration of carbon dioxide. Established the Carbon Storage Stewardship Trust Fund in the Treasury for the National Carbon Storage Stewardship Program that reimburses agencies and makes payments for costs with respect to such facilities. Establishes the Carbon Storage Stewardship Board as an independent agency to advance the widespread deployment of carbon capture and storage technologies by providing for the long-term stewardship of closed storage sites and to administer such Program. Establishes within DOE an Office of Public Claims to adjudicate claims filed with the Board related to carbon dioxide injected at facilities. Requires the Secretary to competitively select 10 carbon capture and geological sequestration projects as first mover projects that shall be indemnified from liabilities arising from the injection of carbon dioxide into storage facilities.

Small Business Paperwork Mandate Elimination Act

United States · United States Congress · 14 July 2010

Small Business Paperwork Mandate Elimination Act - Amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more.

Carbon Capture and Sequestration Deployment Revenue Act of 2010

United States · United States Congress · 14 July 2010

Carbon Capture and Sequestration Deployment Revenue Act of 2010 - Amends the Internal Revenue Code to: (1) expand the tax credit for carbon dioxide sequestration to include carbon dioxide that is converted to a stable form in which it is securely and permanently sequestered; (2) allow a 30% increase in the qualifying advanced coal project tax credit for the incremental cost of carbon capture and sequestration systems; (3) allow an increase in the carbon dioxide sequestration tax credit for the use of new or retrofit electric utility or industrial units to provide for carbon capture and sequestration in secure geologic storage; and (4) allow issuers of qualified carbon sequestration bonds income and excise tax credits for payments of interest with respect to such bonds. Amends the Energy Policy Act of 2005 to provide additional funding for loan guarantees for: (1) constructing or retrofitting new or existing commercial scale electric generation units or industrial facility units for carbon capture and sequestration; and (2) constructing carbon dioxide transmission pipelines to transport carbon dioxide to sequestration sites or to sites where carbon dioxide will be used for hydrocarbon recovery.