Taxation

ABLE MATCH (Making Able a Tool to Combat Hardship) Act

United States · United States Congress · 1 August 2023

ABLE MATCH (Making Able a Tool to Combat Hardship) Act This bill allows beneficiaries of ABLE (Achieving a Better Life Experience) accounts a refundable tax credit to match their contributions to such accounts. The amount of such credit may not exceed $2,000. The bill also requires demographic reporting (e.g., race, gender, disability type) with respect to ABLE accounts and directs the Department of the Treasury to award grants to states for promoting such accounts and for making matching payments of contributions to such accounts.

DITCH Act

United States · United States Congress · 1 August 2023

Dump Investments in Troublesome Communist Holdings Act or the DITCH Act This bill denies an organization a tax exemption if it holds any interest in a disqualified Chinese company or fails to timely transmit required annual reports. A disqualified Chinese company is any corporation incorporated in China, or that invests more than 10% of its stock in certain Chinese entities, including entities controlled by the Chinese Communist Party. The Department of the Treasury may grant organizations a waiver of the denial of the tax exemption under specified circumstances. Organizations that hold any interest in a disqualified Chinese company must file annual reports describing each interest held in the company, the period during which such interest was held, and whether the organization has been granted a waiver.

Dairy Nutrition Incentive Program Act of 2023

United States · United States Congress · 1 August 2023

Dairy Nutrition Incentive Program Act of 2023 This bill directs the Department of Agriculture (USDA) to establish a dairy nutrition incentive program to develop and test methods to increase the purchase and consumption of dairy under the Supplemental Nutrition Assistance Program (SNAP). Specifically, the program must provide an incentive to SNAP benefit recipients for the purchase of naturally nutrient-rich dairy, which the bill defines to include fluid milk, yogurt, and cheese made from cow's milk. To carry out the program, USDA must enter into cooperative agreements with, or provide competitive grants to, state or local governments and nonprofit organizations for projects. The bill provides funding for the program for each fiscal year. USDA must provide for an independent evaluation of each project that measures, to the maximum extent practicable, the effect of incentives on purchases of naturally nutrient-rich dairy by SNAP recipients. Projects currently carried out by the USDA Healthy Fluid Milk Incentives (HFMI) program must be transitioned to the new dairy nutrition incentive program; the bill repeals the HFMI program one year after USDA certifies that the transition is complete.

Nurse Corps Tax Parity Act of 2023

United States · United States Congress · 28 July 2023

Nurse Corps Tax Parity Act of 2023 This bill excludes from taxpayer gross income, for income tax purposes, amounts attributable to Nurse Corps scholarships and loan repayment programs.

Promoting Domestic Energy Production Act

United States · United States Congress · 28 July 2023

Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025

United States · United States Congress · 27 July 2023

Wildlife Innovation and Longevity Driver Reauthorization Act or the WILD Act This bill reauthorizes through FY2028 and revises several conservation programs for wildlife species and their habitats, including the U.S. Fish and Wildlife Service's Partners for Fish and Wildlife Program as well as programs that provide financial assistance for African elephants, Asian elephants, rhinoceroses, tigers, great apes, and marine turtles.

Higher Education Reform and Opportunity Act

United States · United States Congress · 27 July 2023

Higher Education Reform and Opportunity Act This bill revises requirements governing the financing and accreditation of institutions of higher education (IHEs). Specifically, the bill makes postsecondary education courses and programs (e.g., apprenticeship programs) that provide credits toward a postsecondary certification, credential, or degree eligible for federal student aid funding if the programs and courses are accredited by a state that has an alternative accreditation agreement with the Department of Education (ED). The bill requires IHEs to publish certain enrollment and financial aid information, such as (1) the percentage of former financial aid recipients who are employed at various intervals following graduation, and (2) the average amount of total federal student loan debt accrued upon graduation. The Government Accountability Office must compile and study all such information published by IHEs and submit a report containing the results. Further, the bill prohibits the disclosure of personally identifiable information and directs ED to establish penalties for violations. Additionally, the bill consolidates federal student loans into one student loan program and eliminates loan forgiveness for borrowers. Lastly, the bill requires an IHE to pay a default rate fine for a fiscal year in an amount that is equal to the applicable percentage of outstanding loans (i.e., the total amount of loans issued to students for attendance at the IHE for which regular on-time payments are not being made). An IHE shall receive a credit for each graduate of the IHE who received a Federal Pell Grant while enrolled at the IHE during the fiscal year.

Rural Jobs Act

United States · United States Congress · 27 July 2023

Rural Jobs Act This bill allocates an additional $500 million in 2023 and another $500 million in 2024 for new markets tax credit investments in the Rural Jobs Zone (an area comprised of low-income communities with populations not greater than 50,000 that are not adjacent to an urbanized area). The bill also requires that at least 25% of such investments be made in areas that are persistent poverty counties, high migration rural counties, or both.

Fostering Innovation and Research to Strengthen Tomorrow Act

United States · United States Congress · 27 July 2023

Fostering Innovation and Research to Strengthen Tomorrow Act This bill doubles the rate of the tax credit for increasing research expenses and the alternative simplified research tax credit. It also increases the credit rate for taxpayers with no research expenses during a specified three-year period and the amount of the credit that certain small businesses may apply against payroll tax liabilities.

Family Savings for Kids and Seniors Act

United States · United States Congress · 27 July 2023

Family Savings for Kids and Seniors Act This bill provides an annual inflation adjustment after 2023 to the $5,000 tax exclusion for employer-provided dependent care assistance.

Tax Fairness for Workers Act

United States · United States Congress · 27 July 2023

Tax Fairness for Workers Act This bill allows an above-the-line tax deduction for union dues and expenses. (An above-the-line deduction is subtracted from gross income and is available whether or not a taxpayer itemizes other deductions.) The bill also reinstates the miscellaneous itemized tax deduction for unreimbursed expenses attributable to the performance of services as an employee (Under current law, all miscellaneous itemized deductions are suspended through 2025).

Rebuild America’s Schools Act of 2023

United States · United States Congress · 27 July 2023

Rebuild America's Schools Act of 2023 This bill provides support for long-term improvements to public elementary and secondary school facilities. First, the bill sets forth allocations to states and establishes a need-based grant program for local educational agencies (LEAs) to improve school facilities. Further, the bill specifies allowable uses of grant funds, including carrying out major repairs, improving indoor air quality, and making facilities accessible to disabled individuals. Additionally, the bill requires LEAs that receive funds for new construction, modernization, or renovation projects to comply with hazard-resistance building codes and performance criteria under the WaterSense program of the Environmental Protection Agency. Further, the bill requires such LEAs to adopt certain green practices (environmental standards) and requires the use of iron, steel, and manufactured products that are made in the United States (Buy America). The bill restores school infrastructure tax credit bonds. The bill also sets forth reporting requirements, including annual reports on grant program projects and a report by the Government Accountability Office that requires a study of the geographic distribution of projects, the impact of selected projects on student and staff health and safety, and the accessibility of projects to high-poverty schools. The bill also establishes the Office of School Infrastructure and Sustainability within the Department of Education. Next, the bill extends through FY2028 the Impact Aid Construction program. Finally, the bill establishes a grant program to assist LEAs with repairing or replacing concrete foundations affected by pyrrhotite (an iron sulfide material linked to crumbling foundations).

To amend the Internal Revenue Code of 1986 to allow for deductions for the performance of certain services by a taxpayer, and for other purposes.

United States · United States Congress · 27 July 2023

This bill allows a deduction from gross income (above-the-line deduction) for expenses incurred by an employee if such expenses are for construction tools, personal protective clothing and gear, and other expenses necessary for the employee to be able to work. This allowance is an exception to the general rule that employee expenses are not deductible business expenses.

Protect Innocent Victims Of Taxation After Fire Act

United States · United States Congress · 27 July 2023

Protect Innocent Victims Of Taxation After Fire Act This bill excludes from gross income, for income tax purposes, any amount received after 2019 and before 2026 by an individual taxpayer as a qualified wildfire relief payment. The bill defines such payment as compensation for expenses or losses incurred as a result of a federally declared forest or range fire disaster.

Promotion and Expansion of Private Employee Ownership Act of 2023

United States · United States Congress · 27 July 2023

Promotion and Expansion of Private Employee Ownership Act of 2023 This bill accelerates to the enactment date of this bill the deferral of tax (currently, after December 31, 2027) on sales of employer stock to employee stock ownership plans (ESOPs) sponsored by S corporations. It also eliminates the limitation on the amount that may be deferred. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The office must provide education and outreach about the benefits of employee ownership of S corporations and technical assistance to assist S corporations in sponsoring ESOPs. The bill directs the Department of Labor to appoint an Advocate for Employee Ownership.

Modernizing Agricultural and Manufacturing Bonds Act

United States · United States Congress · 27 July 2023

Modernizing Agricultural and Manufacturing Bonds Act This bill modifies provisions relating to qualified small issue bonds for manufacturing purposes by expanding the definition of manufacturing facility to include a facility that (1) is used in the creation or production of intangible property; or (2) is functionally related, subordinate to, and located on the same site as a facility used in the manufacturing or production of tangible or intangible personal property. The bill also increases from $10 million to $30 million the maximum bond size limitation. The bill modifies requirements for private activity bond financing for first-time farmers. The modified provisions (1) increase from $450,000 to $1 million (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the separate dollar limitation on the use of bond proceeds for used farm equipment, and (3) revise the definition of substantial farmland to determine farm size by reference to the average (instead of median) size of a farm in the county in which the farm is located.

Small Business Growth Act

United States · United States Congress · 27 July 2023

Small Business Growth Act This bill increases from $1 million to $2.5 million the limitation on expensing of depreciable business assets. It also increases the asset threshold amount used to reduce the expensing limitation.

Fairness for Crime Victims Act of 2023

United States · United States Congress · 27 July 2023

Fairness for Crime Victims Act of 2023 This bill establishes budget points of order in the House of Representatives and the Senate against considering provisions in appropriations legislation that contain changes in mandatory programs (CHIMPs) that would cause the amount available for obligation during the fiscal year from the Crime Victims Fund to be less than the annual average for the three previous fiscal years. A CHIMP is a provision that (1) would have been estimated as affecting direct spending or receipts if the provision were included in legislation other than an appropriations bill; and (2) results in a net decrease in budget authority in the current year or the budget year, but does not result in a net decrease in outlays over the period of the total of the current year, the budget year, and all fiscal years covered under the most recently adopted budget resolution. The points of order do not apply if the difference between the amount in the Crime Victims Fund as of September 30 of the fiscal year immediately preceding the fiscal year to which the CHIMP relates and the amount available for obligation under the CHIMP is not more than $2 billion.

Financing Our Energy Future Act

United States · United States Congress · 27 July 2023

Financing Our Energy Future Act This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes. Under current law, partnerships that meet certain gross income requirements (i.e., at least 90% of the partnership's gross income in a taxable year consists of qualifying income) are excepted from being treated as a corporation for tax purposes. This bill expands the sources of income that are considered qualifying income and make a partnership eligible for such an exception. Specifically, the bill provides that income derived from the generation of specified alternative energy, alternative fuel projects, or the associated property, storage, or transportation for such projects (e.g., the conversion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.

Fair Access to Agriculture Disaster Programs Act of 2023

United States · United States Congress · 27 July 2023

Fair Access to Agriculture Disaster Programs Act of 2023 This bill waives the adjusted gross income limitations for payments or benefits under specific Department of Agriculture (USDA) disaster assistance programs for a person or legal entity that derives a portion of their income from agriculture. (Currently, a person or entity is not eligible to receive certain benefits during a crop, fiscal, or program year if their average gross income exceeds $900,000.) Specifically, in the case of an excepted payment or benefit, the adjusted gross income limitation is waived if 75% or more of the average adjusted gross income for the person or entity is derived from farming, ranching, or silviculture activities. These activities include agritourism, direct-to-consumer marketing of agricultural products, and the sale of agricultural equipment owned by such person or entity. The bill applies to the USDA Livestock Indemnity Program; Livestock Forage Disaster Program; Emergency Assistance for Livestock, Honey Bees, and Farm-Raised Fish Program; Tree Assistance Program; and Noninsured Crop Disaster Assistance Program.

Higher Education Reform and Opportunity Act

United States · United States Congress · 27 July 2023

Higher Education Reform and Opportunity Act This bill revises requirements governing the financing and accreditation of institutions of higher education (IHEs). Specifically, the bill makes postsecondary education courses and programs (e.g., apprenticeship programs) that provide credits toward a postsecondary certification, credential, or degree eligible for federal student aid funding if the programs and courses are accredited by a state that has an alternative accreditation agreement with the Department of Education (ED). The bill requires IHEs to publish certain enrollment and financial aid information, such as (1) the percentage of former financial aid recipients who are employed at various intervals following graduation, and (2) the average amount of total federal student loan debt accrued upon graduation. The Government Accountability Office must compile and study all such information published by IHEs and submit a report containing the results. Further, the bill prohibits the disclosure of personally identifiable information and directs ED to establish penalties for violations. Additionally, the bill consolidates federal student loans into one student loan program and eliminates loan forgiveness for borrowers. Lastly, the bill requires an IHE to pay a default rate fine for a fiscal year in an amount that is equal to the applicable percentage of outstanding loans (i.e., the total amount of loans issued to students for attendance at the IHE for which regular on-time payments are not being made). An IHE shall receive a credit for each graduate of the IHE who received a Federal Pell Grant while enrolled at the IHE during the fiscal year.

Budgeting for Opioid Addiction Treatment Act

United States · United States Congress · 27 July 2023

Budgeting for Opioid Addiction Treatment Act This bill imposes an excise tax on the sale of any active opioid. The tax is equal to one cent per milligram so sold and it is imposed on the manufacturer, producer, or importer of the opioid. The term active opioid means any controlled substance that is opium, an opiate, or any derivative thereof. The bill provides block grants for substance abuse treatment programs. The Department of Health and Human Services must report on the impact of this bill on (1) the retail cost of active opioids; (2) patient access to such opioids, particularly cancer and hospice patients; and (3) the use of tax revenues to improve substance abuse treatment efforts. The report must also make suggestions for improving access to opioids for cancer and hospice patients and substance abuse treatment efforts.

SEASONAL Act

United States · United States Congress · 27 July 2023

State Executive Authority for Seasonal Occupations Needing Additional Labor Act or the SEASONAL Act This bill authorizes additional H-2B (temporary nonagricultural worker) visas to be issued to employers in a state with unmet labor needs. (H-2B visas are subject to an annual numerical cap.) Under the bill, a state may request a particular number of H-2B visas if (1) employers have requested visas in excess of the numerical cap for that fiscal year, and (2) a state’s seasonally adjusted unemployment rate has been 3.5% or less (in 9 of the most recent 12 quarters). The state must also certify that (1) there is a persistent, unmet need for labor within the state, an occupational category, or an Economic Development District; and (2) the additional H-2B visas will not displace existing members of the state’s workforce or negatively affect average wages.  The Department of Homeland Security (DHS) must issue the additional H-2B visas upon receiving a request that complies with this bill's requirements, to the extent that the receiving employers meet all the applicable requirements for such visas. Additionally, the bill requires DHS and the Department of Labor to annually report to Congress specified data about the bill's implementation, including the number of additional visas issued to each state. The bill sunsets four years after its enactment.

Rebuild America’s Schools Act of 2023

United States · United States Congress · 27 July 2023

Rebuild America's Schools Act of 2023 This bill provides support for long-term improvements to public elementary and secondary school facilities. First, the bill sets forth allocations to states and establishes a need-based grant program for local educational agencies (LEAs) to improve school facilities. Further, the bill specifies allowable uses of grant funds, including carrying out major repairs, improving indoor air quality, and making facilities accessible to disabled individuals. Additionally, the bill requires LEAs that receive funds for new construction, modernization, or renovation projects to comply with hazard-resistance building codes and performance criteria under the WaterSense program of the Environmental Protection Agency. Further, the bill requires such LEAs to adopt certain green practices (environmental standards) and requires the use of iron, steel, and manufactured products that are made in the United States (Buy America). The bill restores school infrastructure tax credit bonds. The bill also sets forth reporting requirements, including annual reports on grant program projects and a report by the Government Accountability Office that requires a study of the geographic distribution of projects, the impact of selected projects on student and staff health and safety, and the accessibility of projects to high-poverty schools. The bill also establishes the Office of School Infrastructure and Sustainability within the Department of Education. Next, the bill extends through FY2028 the Impact Aid Construction program. Finally, the bill establishes a grant program to assist LEAs with repairing or replacing concrete foundations affected by pyrrhotite (an iron sulfide material linked to crumbling foundations).

Personalized Care Act of 2023

United States · United States Congress · 27 July 2023

Personalized Care Act of 2023 This bill revises provisions relating to health savings accounts (HSAs), including to redefine eligible individual for HSA purposes to allow increased participation in HSAs, increase the limit on contributions to HSAs, permit the payment of health insurance premiums from HSAs, include within the definition of qualified medical expenses periodic fees paid for medical services and amounts paid by a member of a health care sharing ministry, treat periodic provider fees as deductible medical expenses, and lower the 20% penalty for nonqualified distributions from HSAs to 10%.

BEYOND THE BREAKING POINT: THE FISCAL CONSEQUENCES OF CLIMATE CHANGE INFRASTRUCTURE

United States · United States Senate · 26 July 2023

Auto Reenroll Act of 2023

United States · United States Congress · 26 July 2023

Auto Reenroll Act of 2023 This bill allows sponsors of automatic contribution arrangements to reenroll their employees in such arrangements at least once every three years. The purpose of the bill is to increase employee participation in tax-exempt pension plans and other retirement arrangements.

Providing for consideration of the bill (H.R. 4366) making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the joint resolution (S.J. Res. 9) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to "Endangered and Threatened Wildlife and Plants; Lesser Prairie-Chicken; Threatened Status With Section 4(d) Rule for the Northern Distinct Population Segment and Endangered Status for the Southern Distinct Population Segment"; and providing for consideration of the joint resolution (S.J. Res. 24) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to "Endangered and Threatened Wildlife and Plants; Endangered Species Status for Northern Long-Eared Bat".

United States · United States Congress · 26 July 2023

Sets forth the rule for consideration of the bill (H.R. 4366) making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the joint resolution (S.J. Res. 9) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to "Endangered and Threatened Wildlife and Plants; Lesser Prairie-Chicken; Threatened Status With Section 4(d) Rule for the Northern Distinct Population Segment and Endangered Status for the Southern Distinct Population Segment"; and providing for consideration of the joint resolution (S.J. Res. 24) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to "Endangered and Threatened Wildlife and Plants; Endangered Species Status for Northern Long-Eared Bat".

Disclosure of Tax Havens and Offshoring Act

United States · United States Congress · 26 July 2023

Disclosure of Tax Havens and Offshoring Act This bill requires certain members of a multinational enterprise group that are also issuers of securities to annually disclose information related to the tax jurisdiction, income, and assets of their constituent entities on a country-by-country basis. (Multinational enterprise groups have two or more entities with different tax jurisdictions.) 

Preserving Family Farms Act of 2023

United States · United States Congress · 26 July 2023

Preserving Family Farms Act of 2023 This bill amends the Internal Revenue Code to increase to $13 million (currently, $750,000) the limitation on the special use valuation for farmland or other trades or businesses for estate tax purposes. The increased amount is adjusted for inflation for estates of decedents dying after 2023.

Conrad State 30 and Physician Access Reauthorization Act

United States · United States Congress · 26 July 2023

Conrad State 30 and Physician Access Reauthorization Act This bill modifies the Conrad 30 Waiver program, which incentivizes qualified foreign physicians to serve in underserved communities. It also extends statutory authority for the program for three years from this bill's enactment. Aliens coming to the United States under a J-1 nonimmigrant visa to receive medical training typically must leave the country and reside for two years abroad before being eligible to apply for an immigrant visa or permanent residence. The Conrad program waives this requirement for individuals who meet certain qualifications, including serving for a number of years at a health care facility in an underserved area. The bill increases the number of waivers that a state may obtain each fiscal year from 30 to 35 if a certain number of waivers were used the previous year, and provides for further adjustments depending on demand. An alien physician may be employed at an academic medical center to meet the Conrad program's employment requirements if the alien's work is in the public interest, even if the medical center is not in an underserved area. Employment contracts for alien physicians under the Conrad program shall contain certain information, such as the maximum number of on-call hours per week the physician shall have to work. Certain alien physicians (along with the physician's spouse and children) shall be exempt from the direct annual numerical limits on immigration, including those physicians that have met certain requirements related to visas for physicians to serve in underserved areas.

Promotion and Expansion of Private Employee Ownership Act of 2023

United States · United States Congress · 26 July 2023

Promotion and Expansion of Private Employee Ownership Act of 2023 This bill accelerates to the enactment date of this bill the deferral of tax (currently, after December 31, 2027) on sales of employer stock to employee stock ownership plans (ESOPs) sponsored by S corporations. It also eliminates the limitation on the amount that may be deferred. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The office must provide education and outreach about the benefits of employee ownership of S corporations and technical assistance to assist S corporations in sponsoring ESOPs. The bill directs the Department of Labor to appoint an Advocate for Employee Ownership.

Oligarch Act of 2023

United States · United States Congress · 26 July 2023

Oligarch Act of 2023 This bill imposes a tax on the net value of all taxable assets of a taxpayer as of the last day of any calendar year (wealth tax). The amount of such tax is equal to certain percentages of the net value of all taxable assets of the taxpayers that exceed a specified threshold amount. The bill defines net value of all taxable assets as the excess of the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated, over any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, or collectibles. The Internal Revenue Service (IRS) must report on the net value of assets subject to the wealth tax within one year after the enactment of this bill and must annually audit not less than 30% of taxpayers required to pay the tax. The IRS may extend payment of the tax for a reasonable period (not to exceed 5 years) for taxpayers with severe liquidity constraints or for whom immediate payment would impose an undue hardship. The bill provides for enhanced penalties for understatements of the value of property subject to the wealth tax.

Sports League Tax-Exempt Status Limitation Act

United States · United States Congress · 26 July 2023

Sports League Tax-Exempt Status Limitation Act This bill denies a tax exemption for professional sports leagues whose assets have an average annual value in excess of $500 million for any 3-taxable year period beginning after 2020.

Ending Tax Breaks for Massive Sovereign Wealth Funds Act

United States · United States Congress · 26 July 2023

Ending Tax Breaks for Massive Sovereign Wealth Funds Act This bill denies a tax exemption for income from investments of a non-exempt foreign government. The bill defines non-exempt foreign government as any foreign government that holds, directly or indirectly, more than $100 billion in assets for investment or for the production of income, and either does not have a free trade agreement or treaty in effect with the United States, or is a foreign government of a covered nation (i.e., Russia, China, North Korea, or Iran). The Department of the Treasury must publish a list of non-exempt foreign government for purposes of this bill.

Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act

United States · United States Congress · 26 July 2023

Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act This bill denies certain large corporations (i.e., corporations with gross income exceeding $10 billion in the preceding taxable year) a tax deduction for certain payments relating to defamation law suits, including the applicable defamation suit payment, attorneys' fees, and insurance premiums. The bill defines applicable defamation suit payment as any payment that (1) is made in connection with a defamation suit for which proof of actual malice is required to succeed on the merits, (2) is paid pursuant to a settlement or court order, and (3) exceeds $500 million in the aggregate.

A bill to require the Secretary of Defense to submit an annual report on certain out-of-cycle or premature personnel transfers.

United States · United States Congress · 26 July 2023

This bill requires the Department of Defense (DOD) to report on the number and nature of out-of-cycle or premature personnel transfers carried out during the preceding fiscal year for specified individuals as a result of such individuals or their dependents being affected by certain issues. Specifically, the report must focus on members of the Armed Forces on active duty, members of the Armed Forces in a reserve component, members of the National Guard, and civilian employees of DOD or dependents of the listed individuals who are being affected by (1) sexual assault or sexual harassment; (2) humanitarian or compassionate requests; (3) discrimination, harassment, bullying, reprisals, or threats based on the race, color, national origin, religion, sex (including gender identity) or sexual orientation of such individuals or dependents; (4) medical issues, including lack of access to care; or (6) child custody agreements. Each report must be submitted in unclassified form but may include a classified annex to protect sensitive information. Additionally, the reports must exclude personally identifiable information. 

Promotion and Expansion of Private Employee Ownership Act of 2023

United States · United States Congress · 26 July 2023

Promotion and Expansion of Private Employee Ownership Act of 2023 This bill accelerates to the enactment date of this bill the deferral of tax (currently, after December 31, 2027) on sales of employer stock to employee stock ownership plans (ESOPs) sponsored by S corporations. It also eliminates the limitation on the amount that may be deferred. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The office must provide education and outreach about the benefits of employee ownership of S corporations and technical assistance to assist S corporations in sponsoring ESOPs. The bill directs the Department of Labor to appoint an Advocate for Employee Ownership.

ABLE MATCH (Making Able a Tool to Combat Hardship) Act

United States · United States Congress · 26 July 2023

ABLE MATCH (Making Able a Tool to Combat Hardship) Act This bill allows beneficiaries of ABLE (Achieving a Better Life Experience) accounts a refundable tax credit to match their contributions to such accounts. The amount of such credit may not exceed $2,000. The bill also requires demographic reporting (e.g., race, gender, disability type) with respect to ABLE accounts and directs the Department of the Treasury to award grants to states for promoting such accounts and for making matching payments of contributions to such accounts.

Auto Reenroll Act of 2023

United States · United States Congress · 26 July 2023

Auto Reenroll Act of 2023 This bill allows sponsors of automatic contribution arrangements to reenroll their employees in such arrangements at least once every three years. The purpose of the bill is to increase employee participation in tax-exempt pension plans and other retirement arrangements.

A bill to amend the Internal Revenue Code of 1986 to provide a credit for re-enrollment provisions in retirement plans of small employers.

United States · United States Congress · 26 July 2023

This bill allows small employers who have a re-enrollment provision in their retirement plans a tax credit for $500 in any taxable year occurring during a specified three-year credit period.

Health CARE Training Act

United States · United States Congress · 25 July 2023

Health Career Advancement and Remuneration Exclusion for Training Act or the Health CARE Training Act This bill adds requirements to and otherwise modifies the Health Profession Opportunity Grants program. The program awards grants for demonstration projects to provide Temporary Assistance for Needy Families recipients and other low-income individuals with education and training for health care occupations that pay well and have labor shortages or are in high demand. Specifically, entities administering the projects must provide participants with education and training to obtain a post-secondary credential that meets the standards of the state in which the project is conducted or that meets standards set by the Department of Health and Human Services, as applicable. In addition, the bill expressly excludes cash stipends or emergency assistance paid to project participants from income for federal income tax purposes.

Better Deals and Lower Prices Act

United States · United States Congress · 25 July 2023

Better Deals and Lower Prices Act This bill establishes reporting requirements for pharmacy benefit managers (PBMs) with respect to services provided to health insurance plans. First, PBMs must report annually to the plan sponsor certain information about the PBM's services, including the amount of prescription drug copayment assistance funded by drug manufacturers, a list of covered drugs billed under the plan during the reporting period, and the total gross and net spending by the health plan on prescription drugs during the reporting period. PBMs also must submit specified elements of the report (e.g., the total gross spending on prescription drugs) to the Government Accountability Office (GAO). The report must comply with the privacy requirements under the Health Insurance Portability and Accountability Act of 1996. The bill establishes civil penalties for violations of these requirements and provides for enforcement by the appropriate agencies. GAO must report on the pharmacy networks of plans or PBMs, including whether such networks under common ownership with the plans or PBMs are designed to encourage plan enrollees to use network pharmacies over other pharmacies.

To amend the Agriculture Improvement Act of 2018 to reauthorize the dairy business innovation initiatives.

United States · United States Congress · 25 July 2023

This bill increases the authorization of appropriations for the Dairy Business Innovation (DBI) Initiatives for each fiscal year. Under the Agricultural Marketing Service, the DBI Initiatives support dairy businesses in the development, production, marketing, and distribution of dairy products. The DBI Initiatives provide direct technical assistance and subawards to dairy businesses, including for niche dairy products and dairy products derived from cow milk, sheep milk, and goat milk.

Wall Street Tax Act of 2023

United States · United States Congress · 25 July 2023

Wall Street Tax Act of 2023 This bill imposes a 0.1% excise tax on certain financial transactions such as the purchase of stocks, bonds, and derivatives. The tax applies to the purchase of a security if (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person. A security includes a share of stock in a corporation; a partnership or beneficial ownership interest in a partnership or trust; a note, bond, debenture, or other evidence of indebtedness; and derivatives that meet specified criteria. The tax applies to transactions with respect to a derivative if (1) the derivative is traded on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) any party with rights under the derivative is a U.S. person. The bill exempts from such tax (1) initial issues of securities; and (2) any note, bond, debenture, or other evidence of indebtedness that is traded on or is subject to the rules of, a qualified board or exchange located in the United States, and has a fixed maturity of not more than 100 days. The tax applies to transactions by a controlled foreign corporation and must be paid by its U.S. shareholders.

Shareholder Political Transparency Act of 2023

United States · United States Congress · 25 July 2023

Shareholder Political Transparency Act of 2023 This bill requires an issuer of securities to disclose information related to expenditures for political activities. Specifically, issuers must disclose quarterly any such expenditure, including by identifying any candidate the expenditure was made in relation to and any trade association or other tax-exempt organization that received dues or other payments that may be used for political activities. Annually, issuers must report on expenditures for political activities made in the previous year over $10,000 and information related to anticipated expenditures for the next year. The Government Accountability Office must report on the effectiveness of the Securities and Exchange Commission's oversight of these reporting and disclosure requirements.  

Wall Street Tax Act of 2023

United States · United States Congress · 25 July 2023

Wall Street Tax Act of 2023 This bill imposes a 0.1% excise tax on certain purchases of stocks, bonds, and derivatives. The tax applies to the purchase of a security if (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person. The tax applies to transactions with respect to a derivative if (1) the derivative is traded on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) any party with rights under the derivative is a U.S. person. The bill exempts from such tax (1) initial issues of securities; and (2) any note, bond, debenture, or other evidence of indebtedness which is traded on or is subject to the rules of, a qualified board or exchange located in the United States, and has a fixed maturity of not more than 100 days. The tax applies to transactions by a controlled foreign corporation and must be paid by its U.S. shareholders.

Motorsports Fairness and Permanency Act of 2023

United States · United States Congress · 25 July 2023

Motorsports Fairness and Permanency Act of 2023 This bill makes permanent the accelerated depreciation (seven-year recovery period) of motorsports entertainment complexes.

Indian Programs Advance Appropriations Act of 2023

United States · United States Congress · 24 July 2023

Indian Programs Advance Appropriations Act of 2023 This bill authorizes advance appropriations for several covered appropriations accounts of (1) the Bureau of Indian Affairs and the Bureau of Indian Education within the Department of the Interior, and (2) the Indian Health Service within the Department of Health and Human Services. The advance appropriations provide new budget authority that first becomes available for the first fiscal year after the budget year. The covered accounts within the Bureau of Indian Affairs are (1) Operation of Indian Programs, (2) Contract Support Costs, (3) the Indian Guaranteed Loan Program, (4) Construction, and (5) Payments for Tribal Leases. The covered accounts within the Bureau of Indian Education are (1) Operation of Indian Education Programs, and (2) Education Construction. The covered accounts within the Indian Health Service are (1) Indian Health Services, (2) Contract Support Costs, (3) Payments for Tribal Leases, and (4) Indian Health Facilities. The bill also requires the President's budget and the supporting documents submitted to Congress to include detailed estimates related to the advance appropriations.

Dietary Supplements Access Act

United States · United States Congress · 20 July 2023

Dietary Supplements Access Act This bill allows expenditures from health savings accounts and flexible spending and health reimbursement arrangements for dietary supplements (i.e., products, other than tobacco, intended to supplement the diet that bear or contain either vitamins, minerals, herbs or other botanicals, or an amino acid, and are labeled as dietary supplements).