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Bill· SS. 3721 (93rd)referred
United States · United States Congress · 27 June 1974
Provides, under the Internal Revenue Code, that an individual who has attained the age of 65 will not be required to pay the social security tax (FICA or Self-Employment Contributions Act) on his first $2,400 of wages and self-employment income, respectively.
Bill· SS. 3707 (93rd)referred
United States · United States Congress · 27 June 1974
Allows an income tax credit under the Internal Revenue Code equal to the amount by which an individual's interest on savings exceeds that of the previous year. Limits such tax credit to $100 per taxable year.
Bill· HRH.R. 15682 (93rd)referred
United States · United States Congress · 27 June 1974
States that in determining the extent to which gain shall be recognized, under the Internal Revenue Code, in the case of exchanges among corporations, a foreign corporation shall not be considered a corporation, unless such an exchange is done to avoid income taxes. Provides that such stipulation shall apply where there is an exchange incident to a complete liquidation of a foreign corporation into a second foreign corporation which is wholly owned by a United States corporation where both foreign corporations are incorporated under the laws of the same foreign country.
Bill· HRH.R. 15678 (93rd)referred
United States · United States Congress · 27 June 1974
Excludes from gross income, under the Internal Revenue Code, the interest on deposits in qualified savings institutions and credit unions. Limits such tax exclusion to $400 for an individual during a calendar year.
Bill· HRH.R. 15693 (93rd)referred
United States · United States Congress · 27 June 1974
Provides an exclusion from income taxation under the Internal Revenue Code for cooperative housing corporations and condominium housing associations if membership in such organizations is limited to owners of units within such cooperative or condominium.
Bill· HRH.R. 15681 (93rd)referred
United States · United States Congress · 27 June 1974
Cost-of-living Adjustment Act- Provides, under the Internal Revenue Code, for automatic cost-of-living adjustments, based on the Consumer Price Index, in: (1) the income tax rates; (2) the amount of standard deductions; (3) the amount of personal exemptions; (4) the amount of depreciation deductions; and (5) the adjusted basis for property. Makes cost-of- living adjustments in specified United States savings bonds and certificates and on other obligations of the United States.
Bill· HRH.R. 15665 (93rd)referred
United States · United States Congress · 27 June 1974
Fuel Adjustment Relief Act - States that there shall be allowed as a tax credit against income tax an amount equal to 50 percent of the increased residential electricity expenses paid or incurred by the taxpayer during the taxable year. Prescribes a method for computing for the taxable year the increased residential electricity expenses. States that the credit authorized by this Act shall apply to calendar years 1974 through 1978.
Bill· HRH.R. 15661 (93rd)referred
United States · United States Congress · 27 June 1974
Fuel Adjustment Relief Act - States that there shall be allowed as a tax credit against income tax an amount equal to 50 percent of the increased residential electricity expenses paid or incurred by the taxpayer during the taxable year. Prescribes a method for computing for the taxable year the increased residential electricity expenses. States that the credit authorized by this Act shall apply to calendar years 1974 through 1978.
Bill· HRH.R. 15683 (93rd)referred
United States · United States Congress · 27 June 1974
Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.
Bill· HRH.R. 15675 (93rd)referred
United States · United States Congress · 27 June 1974
Provides, under the Internal Revenue Code, that the excludability from gross income of disability pension payments to an individual shall be continued when said individual reaches statutory retirement age. States that the amendment made under this Act shall apply to pension payments received after December 31, 1974.
Bill· HRH.R. 15660 (93rd)referred
United States · United States Congress · 27 June 1974
Allows a tax deduction under the Internal Revenue Code equal to the increase in residential electricity expenses occurring after January 1, 1973. Terminates the tax deduction provided under this Act after December 31, 1978.
Bill· HRH.R. 15667 (93rd)referred
United States · United States Congress · 27 June 1974
Small Investors Act - Provides that, in the case of a taxpayer other than a corporation, gross income under the Internal Revenue Code does not include an amount representing the excess of the net long-term capital gain for the year over the net short-term capital loss from the sale or exchange of a security or securities, to the extent that such amount does not exceed $1,000. (Adds 26 U.S.C. 124)
Bill· HRH.R. 15644 (93rd)referred
United States · United States Congress · 26 June 1974
Increases from $750 to $1,500 the personal income tax exemptions of a taxpayer under the Internal Revenue Code.
Bill· HRH.R. 15625 (93rd)referred
United States · United States Congress · 26 June 1974
Provides that, under the Internal Revenue Code of 1954, real property which is farmland, woodland, or open land and forms part of an estate may be valued, for estate tax purposes, at its value as farmland, woodland, or open land (rather than at its fair market value). Provides that real property which is listed on the National Register of Historic Places may be valued, for estate tax purposes, at its value for its existing use. Provides for the revocation of such lower valuation and recapture of unpaid tax with interest under specified circumstances.
Bill· SS. 3701 (93rd)referred
United States · United States Congress · 25 June 1974
Provides that income from entertainment activities held in conjunction with a public fair conducted by a tax exempt organization shall not be unrelated trade or business income and shall not affect the tax exemption of the organization under the Internal Revenue Code.
Bill· HRH.R. 15598 (93rd)referred
United States · United States Congress · 25 June 1974
Provides, under the Internal Revenue Code, individuals one additional income tax exemption of $150 for each dependent who is handicapped. Defines handicapped to include permanent mental and physical impairments constituting substantial handicaps to employment or education.
Bill· HRH.R. 15620 (93rd)referred
United States · United States Congress · 25 June 1974
Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.
Bill· HRH.R. 15611 (93rd)referred
United States · United States Congress · 25 June 1974
Provides under the Internal Revenue Code, a tax deduction for dependent care expenses for married taxpayers who are employed part time, or who are students. Sets limits on such deductions Prohibits a reduction in such deduction (for dependent and household care services necessary for gainful employment) by the amount of income or payments received by an incapacitated spouse or dependent. (Amends 26 U.S.C. 214).
Bill· HRH.R. 15599 (93rd)referred
United States · United States Congress · 25 June 1974
Repeals the provisions of the Internal Revenue Code which allow the repayment of the excise tax imposed on lubricating oil not used in highway motor vehicles.
Bill· HRH.R. 15575 (93rd)referred
United States · United States Congress · 24 June 1974
Extends the exemption from income tax for industrial development bonds up to $5,000,000 (and up to $10,000,000 at the election of the issuer and with the approval of the Secretary of the Treasury) for those bonds which are used for acquisition, construction, reconstruction, or improvement of land or property which is subject to the depreciation allowance under the Internal Revenue Code.
Bill· HRH.R. 15546 (93rd)referred
United States · United States Congress · 21 June 1974
Small Investors Act - Provides that, in the case of a taxpayer other than a corporation, gross income under the Internal Revenue Code does not include an amount representing the excess of the net long-term capital gain for the year over the net short-term capital loss from the sale or exchange of a security or securities, to the extent that such amount does not exceed $1,000. (Adds 26 U.S.C. 124)
Bill· HRH.R. 15563 (93rd)referred
United States · United States Congress · 21 June 1974
Senior Citizens Property Tax Relief Act - Title I: Findings and Purposes - States that the purposes of this Act are to provide property tax relief and reform for persons over 62. Title II: The Office of Property Tax Relief - Establishes the Office of Property Tax Relief to administer the real property tax relief programs under this Act and provide assistance to State and local governments in dispersing such tax relief information to the elderly. Title III: Real Property Tax Relief for Senior Citizens - Authorizes the payment to States operating a real property tax relief program for the elderly of one-half the cost of such program, other than administrative costs. Requires a qualifying program to provide by way of cash payments, tax credits, refunds, or otherwise, relief from real property taxes equal to the lesser of a determined amount not in excess of $500 per year or an amount by which such taxes exceed a specified percentage up to 7 percent of the taxpayer's household income. Limits such relief to persons with household incomes under $14,000. Title IV: Dispersement of Information - Requires the Office to assist States in dispersing easily understandable information about such tax relief programs. Title V: Appropriations and Effective Date - Authorizes appropriations of sums necessary to carry out this Act.
Resolution· HRESH.Res. 1188 (93rd)passed
United States · United States Congress · 21 June 1974
Waives points of order against specified provisions of the bill (H.R. 15544) making appropriations for the Treasury Department, the United States Postal Service, the Executive Office of the President, and certain Independent Agencies, for the fiscal year ending June 30, 1975.
Bill· HRH.R. 15533 (93rd)referred
United States · United States Congress · 20 June 1974
Provides, under the Internal Revenue Code, individuals one additional income tax exemption of $150 for each dependent who is handicapped. Defines handicapped to include permanent mental and physical impairments constituting substantial handicaps to employment or education.
Bill· SS. 3670 (93rd)referred
United States · United States Congress · 19 June 1974
Allows, under the Internal Revenue Code, a tax credit of 85 percent of the amount by which an individual's medical expenses exceeds 15 percent of his modified adjusted gross income for the taxable year. Defines medical expenses as the medical care expenses of a taxpayer and his dependents for: (1) the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affection of any structure or function of the body; (2) medicine and drugs; and (3) one-half of the amounts paid during the taxable year for insurance which constitutes medical care for the taxpayer, his spouse, and dependents. Repeals the existing deductions for medical, dental, etc. expenses. Authorizes the President to study the adequacy of the use of refundable tax credits under the Internal Revenue Code (as amended by this Act) in meeting the health care needs of the Nation as an alternative to medicaid, medicare, and all other Federal medical assistance and health care programs, and to report to the Congress on his findings and conclusions not later than 36 months after the date of enactment of this Act.
Bill· SS. 3676 (93rd)referred
United States · United States Congress · 19 June 1974
States that any expenditure paid or incurred by a taxpayer in connection with his trade or business for the development or improvement of a product shall be treated, under the Internal Revenue Code, as a research or experimental expenditure irrespective of the nature of such product and irrespective of whether the product constitutes the result of research on a literary, historical, or similar project. (Amends 26 U.S.C. 174)
Bill· HRH.R. 15500 (93rd)referred
United States · United States Congress · 19 June 1974
Increases the maximum deduction allowable, under the Internal Revenue Code, with respect to contributions to candidates for public office to $100 for one candidate or committee and $500 in the aggregate. Exempts political organizations from the payment of income tax.
Bill· HRH.R. 15481 (93rd)referred
United States · United States Congress · 19 June 1974
Includes, under the Internal Revenue Code, qualified joint hospital laundry ventures among the cooperative hospital service organizations entitled to a tax exemption.
Bill· SS. 3663 (93rd)referred
United States · United States Congress · 18 June 1974
Provides, under the Internal Revenue Code, an exclusion from income taxation for income of condominium housing associations, homeowner associations, and cooperative housing corporations operated for the management, maintenance, landscaping, and repair of common areas and dwellings.
Bill· HRH.R. 15457 (93rd)referred
United States · United States Congress · 18 June 1974
Provides for specified exceptions to the general rule, under the Internal Revenue Code, that the gain from dispositions of qualified depreciable property shall be treated as ordinary income. (Amends 26 U.S.C. 1245 (b))
Bill· HRH.R. 15464 (93rd)referred
United States · United States Congress · 18 June 1974
Provides under the Internal Revenue Code, a tax deduction for dependent care expenses for married taxpayers who are employed part time, or who are students. Sets limits on such deductions Prohibits a reduction in such deduction (for dependent and household care services necessary for gainful employment) by the amount of income or payments received by an incapacitated spouse or dependent. (Amends 26 U.S.C. 214).
Bill· HRH.R. 15452 (93rd)referred
United States · United States Congress · 18 June 1974
Terminates, for the purposes of income taxation under the Internal Revenue Code of 1954, the special category of domestic international sales corporations as of January 1, 1975.
Bill· HRH.R. 15435 (93rd)referred
United States · United States Congress · 18 June 1974
Increases the exemption for the Federal estate tax from $60,000 to $200,000. Limits the aggregate deduction for value of property passed to a surviving spouse to $100,000, plus 50 percent of the value of the adjusted gross estate. Allows an estate executor to determine the value of any real property in an estate by its use for farmland, woodland, or scenic open space.
Law· HJRESH.J.Res. 1062 (93rd)open
United States · United States Congress · 18 June 1974
Makes continuing appropriations for the fiscal year 1975 for specified agencies and activities of the Federal Government.
Resolution· HRESH.Res. 1183 (93rd)passed
United States · United States Congress · 18 June 1974
Provides that during the consideration of the bill (H.R. 15405) making appropriations for the Department of Transportation and related agencies for the fiscal year ending June 30, 1975, and for other purposes, all points of order against the following provisions in said bill for failure to comply with the provisions of clauses 2 and 5, rule XXI, are hereby waived: in title I "Coast Guard" beginning on page 3, line 2, through page 4, line 14, and beginning on page 4, line 20, through page 5, line 12; "National Highway Traffic Safety Administration" beginning on page 14, lines 3 through 13; and "Federal Railroad Administration" beginning on page 15, lines 1 through 8.
Bill· SS. 3656 (93rd)referred
United States · United States Congress · 17 June 1974
Makes appropriations of $600,000,000 for fiscal year 1975 for reimbursement of costs to the States of construction of waste treatment works pursuant to the Federal Water Pollution Control Act.
Bill· HRH.R. 15411 (93rd)referred
United States · United States Congress · 14 June 1974
Older Americans' Tax Savings Act - Allows a reimbursement under the Internal Revenue Code for property taxes to persons 65 and over. Limits such reimbursement to the lesser of $480, or the property taxes accrued. Requires such reimbursement to be made in 12 monthly installments. Allows appeals to the Tax Court of denials of claims for such reimbursement. Disallows an income tax deduction for taxes for which a reimbursement is given.
Law· HJRESH.J.Res. 1061 (93rd)open
United States · United States Congress · 14 June 1974
Provides for supplemental appropriations for the fiscal year ending June 30, 1974, for the Veterans Administration, in the areas of: (1) compensation and pension; (2) readjustment benefits; and (3) general operating expenses.
Bill· SS. 3646 (93rd)referred
United States · United States Congress · 13 June 1974
Provides that the expenses of higher education paid by an individual for himself or anyone else shall be allowable to him as an income tax credit under the Internal Revenue Code. States that the credit shall be an amount equal to the sum of: (1) 100 percent of so much of such expenses as does not exceed $200, (2) 20 percent of so much of such expenses as exceeds $200 but does not exceed $500, and (3) 6 1/2 percent of so much of such expenses as exceeds $500 but does not exceed $1,500. Defines the term "expenses of higher education" and "institutions of higher education" for the purposes of this Act. Provides for adjustments for scholarships and veterans benefits.
Bill· HRH.R. 15374 (93rd)referred
United States · United States Congress · 13 June 1974
Allows, under the Internal Revenue Code, a tax deduction to tenants of houses or apartments for their proportionate share of the taxes and interest paid by their lessors. Requires lessors to furnish tenants with information showing the amount that may be deducted.
Bill· HRH.R. 15396 (93rd)referred
United States · United States Congress · 13 June 1974
Provides, under the Internal Revenue Code, that condominium owners' or homeowners' associations will not be taxed on receipt of membership income.
Bill· HRH.R. 15381 (93rd)referred
United States · United States Congress · 13 June 1974
Authorizes State taxation of persons in air commerce under the Federal Aviation Act of 1958 to carry out any environmental improvement project designed to abate aircraft noise, or air or water pollution, directly or indirectly related to aircraft operations at the airport where such taxes are levied and collected.
Bill· HRH.R. 15392 (93rd)referred
United States · United States Congress · 13 June 1974
Eliminates family planning services and supplies from the ceiling presently imposed on the total amount of Federal payments which may be made to Puerto Rico, the Virgin Islands, or Guam in any fiscal year under the medicaid program of the Social Security Act.
Bill· HRH.R. 15373 (93rd)referred
United States · United States Congress · 13 June 1974
Increases the exemption for purposes of the Federal estate tax under the Internal Revenue Code from $60,000 to $120,000.
Bill· HRH.R. 15384 (93rd)referred
United States · United States Congress · 13 June 1974
Provides, under the Internal Revenue Code, for annual adjustments in the amount of personal exemptions and the amount of the standard deduction and the low-income allowance to reflect increases in the cost of living based on the percentage of annual increase in the consumer Price Index.
Bill· HRH.R. 15367 (93rd)referred
United States · United States Congress · 13 June 1974
Provides, under the Internal Revenue Code, that cooperative housing corporations and condominium owners' or homeowners' associations will not be taxed on receipt of membership income.
Resolution· HRESH.Res. 1176 (93rd)passed
United States · United States Congress · 13 June 1974
Waives points of order against certain provisions contained in the bill H.R. 15404 making appropriations for the Departments of State, Justice, and Commerce, the Judiciary, and related agencies for the fiscal year ending June 30, 1975.
Bill· HRH.R. 15337 (93rd)referred
United States · United States Congress · 12 June 1974
Provides that income from entertainment activities held in conjunction with a public fair conducted by a tax exempt organization shall not be unrelated trade or business income and shall not affect the tax exemption of the organization under the Internal Revenue Code.
Bill· HRH.R. 15348 (93rd)referred
United States · United States Congress · 12 June 1974
Provides that the income tax rules, relating to reserves for losses on loans, now applicable to savings and loan associations and mutual savings banks, shall be applicable to the comparable mortgage programs now undertaken by national mortgage associations. (Amends 26 U.S.C. 593)
Bill· HRH.R. 15351 (93rd)referred
United States · United States Congress · 12 June 1974
Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.