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Resolution· HRESH.Res. 478 (97th)referred
United States · United States Congress · 21 May 1982
Expresses the sense of the House of Representatives concerning the President's proposed restructuring of the railroad retirement system and abolition of the Railroad Retirement Board. States that no action should be taken that would undermine the retirement security of railroad workers or their beneficiaries.
Bill· SS. 2555 (97th)open
United States · United States Congress · 20 May 1982
Amends the Tariff Act of 1930 to authorize appropriations for FY 1983 for the U.S. International Trade Commission (ITC). Authorizes the chairman of the ITC to accept gifts for the purpose of aiding the work of the ITC. Amends the Customs Procedural Reform and Simplification Act of 1978 to authorize appropriations for FY 1983 for the salaries and expenses of the U.S. Customs Service with a specified amount earmarked for the enforcement of the alcohol and tobacco revenue laws. Prohibits any such authorized appropriations from being used to implement procedures for the collection of estimated duties that shorten the maximum deferment procedure in effect on January 1, 1981. Authorizes appropriations for the Customs Service for FY 1983 and the following fiscal years for pay rate changes made in accordance with the Federal Pay Comparability Act of 1970. Amends the Trade Act of 1974 to authorize appropriations for the Office of the U.S. Trade Representative (USTR) for FY 1983, with a limit on the amount of such funds that may be used for entertainment and representation expenses. Authorizes appropriaitons for the USTR for FY 1983 and the following fiscal years for pay rate changes made in accordance with the Federal Pay Comparability Act of 1970. Authorizes the USTR to: (1) delegate and authorize successive redelegations of the USTR's functions, powers, and duties; (2) pay official travel expenses without regard to Federal travel regulations and per diem allowances; (3) accept and use gifts for aiding the work of the USTR; and (4) acquire not more than two passenger cars for use abroad. Provides for the appointment of an additional Deputy USTR.
Bill· SS. 2557 (97th)open
United States · United States Congress · 20 May 1982
SELF-Tax Plan Act of 1982 - Amends the Internal Revenue Code to repeal all the income tax tables. Provides for an income tax rate of 18 percent for earnings between $17,500 and $50,000 and 25 percent for earnings over $50,000. Imposes a flat tax rate of 20 percent on the income of all corporations. Repeals all specific exclusions from gross income, all deductions and all credits except the following: (1) the credit for tax withheld on wages; (2) the credit for tax withheld on nonresident aliens; (3) the tax exclusion of gifts and inheritances; and (4) the tax exclusion of the income of States and municipalities. Decreases the amount of each personal exemption to $600. States that: (1) deductions shall be allowed for business expenses and capital cost recovery; (2) income earned by a trade or business shall be taxed only once; (3) married individuals may file a joint return but the marriage penalty shall be eliminated; and (4) no one shall be taxed twice on social security contributions.
Bill· SS. 2551 (97th)open
United States · United States Congress · 20 May 1982
National Science Foundation Authorization Act for Fiscal Year 1983 - Authorizes appropriations to the National Science Foundation for FY 1983 for the following categories: (1) mathematical and physical sciences; (2) engineering; (3) biological, behavioral, and social sciences; (4) astronomical, atmospheric, earth and ocean sciences; (5) ocean drilling programs; (6) Antarctic research programs; (7) scientific, technological, and international affairs; (8) program development and management; and (9) science and engineering education. Makes specified funds available for industry/university cooperative projects to promote academic research and education in the basic sciences and engineering. Limits the amount of authorizations which may be used for consultation or expenses of the Foundation incurred outside the United states. Permits the transfer of funds among categories. Requires the Director of the Foundation to give the appropriate committees of Congress 30 days notice of any transfers in excess of ten percent of the amounts authorized. Provides that written notice of no objections from the Chairman of the House Committee on Science and Technology and the Chairman of the Senate Committee on Labor and Human Resources will permit an immediate transfer of funds. Amends the National Science Foundation Act of 1950 to require the National Science Board to render periodic rather than annual reports to the President on indicators of the state of science and engineering in the United States. Repeals the requirement that the Director establish a Resource Center for Science and Engineering at an educational institution enrolling a substantial number of minority and/or low-income students. Deletes the requirement that contracting officers of the Foundation report any financial or academic affiliation with a grant applicant. Repeals the prohibition against a Foundation employee's registering a patent in his or her own interest which is related to the subject matter of and made in connection with official duties.
Bill· HRH.R. 6445 (97th)referred
United States · United States Congress · 20 May 1982
Amends the Internal Revenue Code to permit an income tax deduction from gross income for adoption agency fees, court costs, attorney's fees, and other necessary expenses incurred in the adoption of a child.
Bill· HRH.R. 6437 (97th)referred
United States · United States Congress · 20 May 1982
Amends the Internal Revenue Code to allow individuals a refundable income tax credit for 50 percent of expenditures incurred to remove formaldehyde foam insulation from a dwelling unit which is used as the principal residence of the taxpayer. Limits such credit to $5,000 for any taxable year.
Resolution· HRESH.Res. 477 (97th)passed
United States · United States Congress · 20 May 1982
Sets forth the rule for the consideration of H. Con. Res. 345 (Congressional budget).
Bill· SS. 2547 (97th)open
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to repeal provisions which allow distributions made in partial liquidation of a corporation to be treated as part payment in exchange for the shareholders stock (i.e. capital gains) rather than taxed as dividends at ordinary income rates. Disallows the nonrecognition of gain by a corporation which distributes appreciated property in redemption of its stock in the case of: (1) complete redemptions of the stock of a ten-percent shareholder; (2) redemptions of stock of a 50 percent or more subsidiary of the redeeming corporation; and (3) distributions pursuant to antitrust judgments. Provides that redemption of stock attributable to a corporation's ceasing to conduct an active trade or business shall be treated as an exchange and not taxed as a dividend.
Bill· SS. 2549 (97th)referred
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to extend from 1982 to 1985 the energy tax credit for certain cogeneration equipment. Extends such credit to equipment using oil and gas for more than 20 percent of the energy consumed by the system.
Bill· HRH.R. 6431 (97th)open
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to repeal the provision which allows Members of Congress an income tax deduction without substantiation for living expenses.
Bill· HRH.R. 6425 (97th)open
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to repeal the provision which allows Members of Congress an income tax deduction without substantiation for living expenses. Sets forth procedural guidelines for the House of Representatives for the enactment of legislation dealing with tax benefits for Members of Congress.
Bill· HRH.R. 6415 (97th)open
United States · United States Congress · 19 May 1982
Rescinds any legislation enacted after December 31, 1980, granting Members of Congress an income tax deduction for living expenses.
Bill· HRH.R. 6418 (97th)referred
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to treat as deductible medical expenses meals and lodging expenses of a parent and child incurred when the child is away from home receiving medical care.
Bill· HRH.R. 6435 (97th)referred
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to provide an income tax credit to corporations of ten percent of the foreign data collection expenses paid or incurred by the corporation during the taxable year. Defines "foreign data collection expenses" as any amount: (1) paid or incurred for purposes of collecting, translating, or disseminating scientific or technological papers or other materials of any foreign country which is a member of the Organization for Economic Cooperation and Development; and (2) which is attributable to activities conducted in such foreign country. Excludes from eligibility for such credit any: (1) electing small business corporation; (2) personal holding company; and (3) service organization.
Bill· HRH.R. 6429 (97th)referred
United States · United States Congress · 19 May 1982
Small Business Regulatory Relief Tax Act of 1982 - Delays until July 1, 1984, the effective date of Treasury regulations determining whether an interest in a corporation is to be treated as stock or indebtedness. Directs the Comptroller General to study and report to Congress on the impact of such regulations on small business.
Bill· HRH.R. 6407 (97th)referred
United States · United States Congress · 19 May 1982
Section 6166 Technical Revision Act of 1982 - Amends the Internal Revenue Code to revise requirements for the extension of time for payment of estate tax for interests in closely held corporations. Includes as a qualifying interest a partnership in which the decedent owns 20 percent or more of the profits interest. Increases from 15 to 35 the number of partners allowed in a qualifying closely held business. Eliminates the distinction between voting and nonvoting stock for purposes of determining a decedent's interest in a qualifying closely held business. Includes as a qualifying interest: (1) certain now operating interests in minerals; (2) certain interests in notes or other debt instruments issued by a corporation and held by a decedent who had some equity interest in the corporation; and (3) certain interests in assets leased to or used by a corporation or partnership. Revises attribution rules for purposes of determining numerical shareholder limitations and percentage ownership limitations on qualifying closely held businesses. Includes in the decedent's gross estate certain items for which the marital deduction was previously allowed. Excludes certain contributions made by a decedent to a closely held business or a partnership from the valuation of an interest in a closely held business if the contribution is not used in carrying on the trade or business. Permits the aggregation of interests in two or more closely held businesses if each interest equals or exceeds five percent of the adjusted gross estate. Eliminates the acceleration of estate tax payments in the case of disposals or withdrawals of the estate's interest in the business if the proceeds are used to pay certain Federal or State death taxes and funeral and administration expenses. Sets forth special rules for the treatment of reorganizations as dispositions, withdrawals, or exchanges of a decedent's interest in a closely held business. Provides that subsequent transfers of property by reason of the death of a person who acquired the property through the decedent's estate will not accelerate payment of the tax (thereby repealing the family member limitation). Sets forth special rules in the case of buy outs and redemptions of a decedent's interest in a closely held corporation or partnership. Permits an estate to sell its stock or partnership interest to the company or to an existing owner or employee in exchange for a note without the acceleration of estate taxes. Disallows such tax deferral in the case of a limited exchange or payment of principal on such a note. Provides that a disposition of an interest in a closely held business will not result in acceleration in the case of like-kind exchanges or involuntary conversions to the extent that no gain is recognized. Prescribes penalties for the failure to make installment payments of deferred taxes within six months of the due date. Applies the four percent rate of interest on estate tax payments extended under the alternate extension of time provisions to the entire amount of the tax to be paid. Revises requirements for the deduction as an administration expense of interest on installment payments of estate taxes. Suspends the period of limitations on the making of certain assessments due to adjustments in the taxable estate in the case of extensions of time for payment of the estate taxes. Authorizes the Tax Court to issue declaratory judgments with respect to controversies including the extension of time for payment of the estate tax. Prescribes penalties for frivolous or groundless proceedings or proceeding merely for delay. Sets forth penalties for negligence or intentional disregard of rules and regulations resulting in an underpayment of estate tax. Revises requirements for assessment or collection of deficiencies in estate tax in the case of appeals.
Bill· HRH.R. 6426 (97th)referred
United States · United States Congress · 19 May 1982
Retirement Savings Incentive Act of 1982 - Amends the Internal Revenue Code to allow a nondeductible $2,000 excess contribution to individual retirement accounts and individual retirement annuities and bonds.
Bill· HRH.R. 6414 (97th)referred
United States · United States Congress · 19 May 1982
Amends the Internal Revenue Code to permit subchapter S corporations in the automobile leasing business to allocate their at-risk loans, for purposes of the investment tax credit, among shareholders in the same manner as other ownership interests are allocated. Limits such allocation authority to subchapter S corporations which for the current taxable year and each of the two preceding taxable years: (1) had at least 150 full-time employees working directly with the care rental business; and (2) had at least $50,000,000 in gross receipts from the car rental business.
Resolution· HRESH.Res. 473 (97th)referred
United States · United States Congress · 19 May 1982
Expresses the sense of the House of Representatives that no further reductions should be made in the funding currently available for FY 1983 for programs administered under the Older Americans Act of 1965.
Resolution· HRESH.Res. 472 (97th)referred
United States · United States Congress · 19 May 1982
Expresses the sense of the House of Representatives that funding under the Older Americans Act of 1965 for FY 1983 and 1984 should be restored to the full amount of funding authorized by the Older Americans Act Amendments of 1981.
Resolution· HCONRESH.Con.Res. 346 (97th)referred
United States · United States Congress · 19 May 1982
Expresses the sense of the Congress that funds should be appropriated during FY 1983 and subsequent fiscal years for programs under the Older Americans Act of 1965 in such amounts as may be necessary to maintain or expand such programs as reauthorized under the Older Americans Act Amendments of 1981.
Bill· SS. 2541 (97th)open
United States · United States Congress · 18 May 1982
Small Issue Industrial Development Bond Reform Act of 1982 - Amends the Internal Revenue Code to disqualify industrial development bonds (IDBs) for the small issue tax exemption if a substantial amount of proceeds of such bonds is used to finance restaurants, certain office buildings, shopping centers, or entertainment or recreation facilities. Requires bond issuing authorities to conduct public hearings prior to the approval and issuance of any small issue industrial development bond. Requires the Governor of a State to report to the Secretary of the Treasury annually beginning in 1984 on bonds issued during the preceding year. Increases to $15,000,000 the amount of industrial development bonds used for economically distressed areas which qualify as tax-exempt small issues. Permits the financing of office buildings, restaurants, stores or shopping centers in such areas. Specifies requirements relating to poverty for designation as a qualified distressed area. Provides that capital research and experimental expenditures shall not be taken into account for purposes of determining the aggregate face value of industrial development bonds which otherwise qualify for the small issue exemption. Suspends temporary Internal Revenue Service regulations which prohibit pooled issues of bonds for projects located in only one state with respect to bonds sold after August 23, 1981. Sets forth transitional rules and effective dates.
Bill· HRH.R. 6395 (97th)open
United States · United States Congress · 18 May 1982
Tax Treatment of Partnership Items Act of 1982 - Amends the Internal Revenue Code to revise the tax treatment of partnership items. States that such treatment shall be determined at the partnership level. Requires that an individual partner treat a partnership item the same way the item is treated on the partnership's tax return. Requires a partner to notify the Secretary of the Treasury of any inconsistent treatment of a partnership item. Provides that a failure to notify the Secretary will result in a computational adjustment to make the treatment of partnership items consistent. Requires the Secretary to notify partners individually of the beginning of an administrative proceeding at the partnership level and of the final administrative adjustment resulting from such proceeding. Provides that such notice requirement shall not apply to partnerships with more than 100 partners and to individual partners with less than one percent interest in the partnership profits. Requires the Secretary to give notice to a "notice group" of partners having an aggregate interest of five percent or more in the partnership. Specifies that if the Secretary fails to give notice to a partner, the partner may elect the final partnership administrative adjustment or may treat items to which the proceeding relates as nonpartnership items. Requires "tax matters partners" and "pass-thru partners" to keep other partners informed of partnership proceedings. Grants all partners the right to participate in administrative proceedings. Allows partners to waive their rights and allows the Secretary to waive restrictions. Provides that settlement agreements between a partner and the Secretary shall bind all partners, with certain exceptions. Gives other partners the right to enter into consistent agreements with the Secretary. Permits the tax matters partner to bind certain other partners unless a partner files a statement that the tax matters partner has no such authority. Provides that deficiency assessments may only be made after the partnership level proceedings are completed. Sets forth procedures for judicial review of final partnership administrative adjustments. Permits a partner to file a request for an administrative adjustment of partnership items. Prescribes procedures for filing such requests. Provides for judicial review where the administrative adjustment request is disallowed by the Secretary. Limits the period for making deficiency assessments. Provides that such limitation shall not apply in the case of fraudulent partnership returns and substantial omissions of income information. States that prescribed deficiency proceedings do not apply to computational adjustments. Prescribes procedures for the filing of claims arising out of erroneous computational adjustments by the Secretary. Sets forth miscellaneous definitions and special rules. Prescribes penalties for failure to file partnership returns, fraud, negligence, and under payments attributable to partnership items. Requires that all partnerships with U.S. partners file tax returns. Requires any U.S. person with an interest in a foreign partnership to file a return if their interest in the partnership changes.
Bill· HRH.R. 6402 (97th)referred
United States · United States Congress · 18 May 1982
Interstate Taxation Act - Title I: Jurisdiction to Tax - Establishes uniform standards for the taxation by States of interstate business enterprises. Prohibits a State or its political subdivisions from: (1) imposing a net income tax or capital stock tax on a corporation unless such corporation has a business location in the State; (2) requiring an individual to collect a sales or use tax unless such individual has a business location or regularly makes household deliveries in the State; or (3) imposing a gross receipts tax on the sale of tangible personal property unless the seller has a business location in the State. Title II: Maximum Percentage of Income or Capital Attributable to Taxing Jurisdiction - Prohibits a State or its political subdivisions from imposing upon a corporation (other than an excluded corporation) with a business location in more than one State a net income tax which is greater than that amount calculated under a specified two-factor property, payroll apportionment formula. Defines the property factor as a fraction, the numerator being the average value of the corporation's property in a State and the denominator being the average value of all the corporation's property located in any State in which the corporation has a business location. Values owned property at its original cost. Values leased property at eight times the gross rents payable by the corporation. Excludes property which has been permanently retired from use and tangible personal property rented out by the corporation to another person for one year or more. Defines the payroll factor as a fraction, the numerator being wages paid in the State and the denominator being the wages paid to all employees in any State. Permits a State to impose a capital account tax upon a domiciliary corporation without division of capital, notwithstanding the jurisdictional standards and limits on attribution otherwise promulgated by this Act. Title III: Sales and Use Taxes - Permits a State to impose a sales tax or require a seller to collect a sales or use tax on the interstate sale of tangible personal property if the destination of the sale is in that State or in a State or political subdivision for which the tax is required to be collected. Prohibits a State from imposing a use tax on the tangible personal property of persons without a business location or individuals without a dwelling place in that State. Permits States to collect sales and use taxes on motor vehicles registered in such States and on the consumption of motor fuels, notwithstanding the jurisdictional standards promulgated by this Act. Prohibits a State from imposing a sales or use tax upon the cost or value of household goods, including motor vehicles, which an individual brings into that State upon establishing residence, if such goods were acquired 30 days or more before the individual established residence. Excludes freight charges on interstate sales which are separately stated from the sales price for purposes of determining the sales or use tax. Exempts a seller of tangible personal property in interstate commerce from liability for the collection or payment of a sales or use tax if the seller obtains from the buyer identification that the buyer is registered with the jurisdiction imposing the sales or use tax to collect or pay such tax, or a certificate indicating that the seller is exempt from the payment of such tax in that jurisdiction. Title IV: Evaluation of State Progress - Requires the Committee on the Judiciary of the House of Representatives and the Committee on Finance of the Senate to evaluate, during the four years following the enactment of this Act, the progress which the States and their political subdivisions are making in resolving the problems arising from State taxation of interstate commerce, and to make proposals for the resolution of such problems if the States have not made substantial progress toward their resolution. Title V: Taxation of Individuals - Prohibits a State from taxing the income of an individual which was earned while such individual was not domiciled in such State (except to the extent that the income was earned from sources within the State), or which was earned from sources outside the State while the individual was domiciled in the State (except to the extent the tax exceeds any income tax paid on income to the State in which the income was earned). Title VI: Definitions and Miscellaneous Provisions - Defines "excluded corporation" to be a corporation which: (1) derives more than 50 percent of its ordinary gross income from the business of transportation for hire, telephone or telegraph service, the sale of electrical energy, gas, or water, insurance, or banking and which receives such income from dividends, interest, or royalties; (2) is a personal holding company; or (3) has an average annual income in excess of $1,000,000. Prohibits a State from imposing upon any person a greater liability for sales, use, or gross receipts tax on transactions which occur outside the State than for transactions which occur within such State. Prohibits a State from charging a taxpayer for the cost of conducting an audit outside the State for a tax to which this Act applies. Prohibits a State from assessing taxes against any person for any period prior to the enactment of this Act.
Bill· HRH.R. 6397 (97th)referred
United States · United States Congress · 18 May 1982
Family Opportunity Act - Amends the Internal Revenue Code to allow an income tax credit for 50 percent of the expenses paid by a taxpayer for computers designed primarily for educational, professional, or other essentially nonrecreational use in the home. Limits the amount of such credit for a taxable year to $100 multiplied by the number of qualified members of the taxpayer's family.
Resolution· HRESH.Res. 468 (97th)referred
United States · United States Congress · 18 May 1982
Expresses the sense of the House of Representatives that changes to the Railroad Retirement Act of 1974 (relating to the railroad retirement system and the Railroad Retirement Board) proposed in the President's budget for FY 1983 should not be implemented.
Bill· HRH.R. 6390 (97th)referred
United States · United States Congress · 17 May 1982
Provides that previous expenditures for urea-formaldehyde foam insulation shall not be taken into account in computing the dollar limitation for purposes of the residential energy tax credit. Allows a medical expense deduction for expenses paid for: (1) removal of urea-formaldehyde foam insulation from any residence of the taxpayer; and (2) restoration of such residence.
Resolution· HRESH.Res. 467 (97th)referred
United States · United States Congress · 17 May 1982
Expresses the sense of the House of Representatives that the Secretary of the Treasury should increase the standard mileage rate which is used in computing the tax deduction for use of an automobile for charitable purposes.
Resolution· HCONRESH.Con.Res. 345 (97th)failed
United States · United States Congress · 17 May 1982
Title I: Revision of the Congressional Budget for the United States Government for the Fiscal Year 1982 - Sets the level of Federal revenues in FY 1982 at $622,800,000,000 and the net amount by which the aggregate level of Federal revenues should be decreased at $200,000,000. States that the level of total budget authority for FY 1982 is $784,500,000,000 and that the level of total budget outlays is $743,900,000,000. Sets forth a budget deficit of $121,100,000,000. States that the level of public debt is $1,147,700,000,000 with an increase of $747,700,000,000 in the statutory limit on such debt. States that the level of total obligations for the principal amount of new direct loans is $63,400,000,000. Sets the level of total new primary commitments to guarantee loan principal at $74,850,000,000 and the level of total new secondary commitments to guarantee loan principal at $68,950,000,000. Sets forth the levels of new budget authority and outlays under each major functional category of the budget for FY 1982. Establishes a Congressional Federal credit budget for fiscal year 1982 with appropriate levels of: (1) new direct loan obligations at $63,400,000,000; (2) new primary loan guarantee commitments at $74,850,000,000; and (3) new secondary loan guarantee commitments at $68,950,000,000. Sets forth the appropriate levels of total Federal credit activity, new direct loan obligations, new primary loan guarantee commitments, and new secondary loan guarantee commitments for each functional category for FY 1982. Expresses the sense of Congress that the following ceilings should be applied in FY 1982: (1) $30,200,000,000 for off-budget lending activities; (2) $33,200,000,000 for on-budget lending activities; (3) $74,850,000,000 for new primary loan guarantee commitments; and (4) $68,950,000,000 for new secondary loan guarantee commitments. Title II: Setting Forth the Congressional Budget for the United States Government for the Fiscal Years 1983, 1984, and 1985 - Sets a level of Federal revenues in FY 1983 of $676,700,000,000 and the aggregate level of Federal revenues increased by $31,700,000,000. States that the level of total new budget authority is $828,000,000,000. Sets the level of total budget outlays at $780,550,000,000. Sets forth a budget deficit of $103,850,000,000. Sets the level of public debt for FY 1983 at $1,285,550,000,000 with an increase of $885,550,000,000 in the statutory limit on such debt. Sets forth the levels of new budget authority and outlays under each major functional category of the budget for FY 1983. Establishes a Congressional Federal credit budget for FY 1983 with appropriate levels of: (1) new direct loan obligations at $60,900,000,000; (2) new primary loan guarantee commitments at $99,100,000,000; and (3) new secondary loan guarantee commitments at $68,250,000,000. Sets forth the appropriate levels of total Federal credit activity, new direct loan obligations, new primary loan guarantee commitments, and new secondary loan guarantee commitments for each functional category for FY 1983. Expresses the sense of Congress that the following ceilings should be applied in FY 1983: (1) $31,050,000,000 for off-budget lending activities; (2) $29,850,000,000 for on-budget lending activities; (3) $99,100,000,000 for new primary loan guarantee commitments; and (4) $68,250,000,000 for new secondary loan guarantee commitments. Recommends levels of Federal revenues of $753,650,000,000 in FY 1984 and $846,550,000,000 in FY 1985. Sets the amount by which the aggregate levels of Federal revenues should be increased at $51,650,000,000, in FY 1984 and $66,550,000,000 in FY 1985. States that the level of total new budget authority for FY 1984 is $888,400,000,000 and $952,850,000,000 for FY 1985. Sets the level of total budget outlays at $826,400,000,000 for FY 1984 and $881,200,000,000 for FY 1985. Sets the amount of deficit in the budget at $72,750,000,000 in FY 1984 and $34,650,000,000 in FY 1985. Sets the level of the public debt at $1,404,450,000,000 and $1,490,800,000,000 in FY and 1985, respectively. Sets forth the increase in the temporary statutory limit on such debt at $1,004,450,000,000 in FY 1984 and $1,090,800,000,000 in FY 1985. Sets forth the levels of new budget authority and outlays under each major functional category of the budget for FY 1984 and FY 1985. Title III: Providing Reconciliation Instructions and Other Enforcement Measures - Requires specified House and Senate committees to recommend program changes in laws within their respective jurisdictions to reduce budget authority and outlays for fiscal years 1983, 1984, and 1985 by specified amounts. Requires such committees to submit their recommendations to the Committees on the Budget of their respective Houses. Requires the Committees on the Budget to report to the House and the Senate a reconciliation bill or resolution or both carrying out all such recommendations without any substantive revision. Declares that, in the House of Representatives, no bill or resolution providing new budget authority for FY 1983, or new spending authority first effective in FY 1983 which exceeds the appropriate allocation or subdivision of such new discretionary budget authority or new spending authority shall be enrolled until after Congress has completed action on the second concurrent resolution on the budget. Makes it out of order in either House to consider any bill or resolution or amendment thereto providing new budget authority for FY 1983 or new spending authority first effective in FY 1983 within the jurisdiction of any of its committees unless and until such committee makes the allocations or subdivisions required by the Budget Act. Declares that it is the sense of Congress that if Congress acts to restore fiscal responsibility and reduces projected budget deficits in a substantial and permanent way, then the Federal Reserve Open Market Committee shall reevaluate its monetary targets in order to assure that they are fully complementary to a new and more restrained fiscal policy.
Bill· SS. 2530 (97th)open
United States · United States Congress · 14 May 1982
Amends the Internal Revenue Code to redefine capital gains and losses so as to eliminate the one year holding period requirement for capital gains tax treatment. Removes such requirement for property used in a trade or business. Revises the tax treatment of capital losses. Reduces the alternative tax on the capital gains of corporations from 28 to 20 percent. Eliminates net capital gain as an item of tax preference for purposes of the minimum tax.
Bill· HRH.R. 6372 (97th)open
United States · United States Congress · 13 May 1982
Amends the Internal Revenue Code to repeal the provision which allows Members of Congress an income tax deduction without substantiation for living expenses.
Bill· HRH.R. 6379 (97th)referred
United States · United States Congress · 13 May 1982
Amends the Internal Revenue Code to provide that, for purposes of determining whether a private foundation is an operating foundation, the private foundation may use the estate tax valuation for a farm: (1) owned by the foundation on January 1, 1982; or (2) acquired by the foundation from a decedent dying after December 31, 1981.
Bill· HRH.R. 6380 (97th)referred
United States · United States Congress · 13 May 1982
Amends the Internal Revenue Code to authorize the Secretary of the Treasury to disclose the names and addresses of persons receiving permits to produce distilled spirits for fuel use to certain State agencies for use in enforcing State laws. Limits such disclosure to State agencies with the responsibility for the enforcement or administration of: (1) State law relating to the manufacture, production, or sale of distilled spirits; or (2) State taxes imposed on the sale of distilled spirits.
Bill· HRH.R. 6378 (97th)referred
United States · United States Congress · 13 May 1982
Tax Equalization Act of 1982 - Amends the Internal Revenue Code to repeal provisions partially exempting farmers' cooperatives from income taxation and provisions setting forth the tax treatment of cooperatives and their patrons. Provides that cooperatives shall be taxed in the same way other businesses are taxed. Disallows any deduction or other allowance for amounts paid as patronage dividends by cooperative corporations. Permits the partial exclusion of dividends paid by such corporations.
Bill· HRH.R. 6374 (97th)referred
United States · United States Congress · 13 May 1982
Amends the Internal Revenue Code to provide that, for purposes of the tax deduction for taxes, interest, and business depreciation of cooperative housing corporations, the tenant-stockholder's proportionate share shall be computed in accordance with laws or ordinances of any State or local government.
Resolution· HRESH.Res. 466 (97th)referred
United States · United States Congress · 13 May 1982
Expresses the sense of the House of Representatives that: (1) the House should not consider legislation which would reduce benefits under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to be paid in FY 1983; and (2) the House should actively consider legislation to remove the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund from the totals of the Federal budget.
Bill· HRH.R. 6358 (97th)referred
United States · United States Congress · 12 May 1982
Requires that, unless otherwise provided by law or by Treasury regulations, a lessor of motor vehicles (including trailers) be permitted to continue to treat such property as depreciable property without regard to the presence in a lease of a terminal adjustment clause.
Bill· SS. 2515 (97th)open
United States · United States Congress · 11 May 1982
Amends the Internal Revenue Code to exclude from the gross income of an employee amounts paid by an employer to such employee's spouse or dependents under a qualified educational assistance program. Repeals provisions which prohibited employers from offering other benefits as an alternative to educational assistance. Allows the exclusion of meals, lodging, and travel provided as part of an educational assistance program. Repeals the termination date for the educational assistance exclusion.
Bill· HRH.R. 6353 (97th)referred
United States · United States Congress · 11 May 1982
Amends the Internal Revenue Code to provide that certain indebtedness incurred by qualified educational organizations in acquiring or improving real property shall not be treated as acquisition indebtedness for purposes of the tax on unrelated business taxable income.
Bill· HRH.R. 6352 (97th)referred
United States · United States Congress · 11 May 1982
Flat Rate Tax Act of 1982 - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of ten percent for all individuals, estates, and trusts for gross income over $10,000. Repeals all special tax deductions, credits, and exclusions from income for individuals.
Bill· HRH.R. 6341 (97th)referred
United States · United States Congress · 11 May 1982
Amends the Internal Revenue Code to allow an income tax credit for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides. Limits such credit to $500 for each aged dependent for the taxable year.
Bill· HRH.R. 6346 (97th)referred
United States · United States Congress · 11 May 1982
Amends the Internal Revenue Code to allow a deduction for sewer service charges in the same manner as the deduction allowed for real property taxes.
Bill· HRH.R. 6342 (97th)referred
United States · United States Congress · 11 May 1982
Amends the Internal Revenue Code to provide for the collection of defaulted Federal student loans by offset against income tax refunds of those individuals found to be in default on such loans. Defines "Federal student loan" for purposes of this Act. Sets forth special rules with respect to joint returns and fiscal year taxpayers. Requires the Secretary of the Treasury to: (1) notify the Secretary of Education of the amounts collected with respect to any loan to any individual; and (2) transfer such amounts to the Secretary of Education as is necessary to reimburse the entity or fund to which such loan is repayable. Requires that such notification and transfer be made not less often than monthly.
Resolution· HRESH.Res. 459 (97th)passed
United States · United States Congress · 11 May 1982
Sets forth the rule for the consideration of H.R. 5842 (National Science Foundation funding).
Resolution· HRESH.Res. 458 (97th)passed
United States · United States Congress · 11 May 1982
Sets forth the rule for the consideration of H.R. 5726 (National Bureau of Standards funding).
Resolution· HRESH.Res. 462 (97th)passed
United States · United States Congress · 11 May 1982
Sets forth the rule for the consideration of H.R. 6068 (Intelligence funding).
Resolution· HRESH.Res. 461 (97th)passed
United States · United States Congress · 11 May 1982
Sets forth the rule for the consideration of H.R. 5922 (Supplemental appropriations).
Resolution· SCONRESS.Con.Res. 92 (97th)passed
United States · United States Congress · 10 May 1982
Recommends levels of Federal revenues of $623,000,000,000 in FY 1982, $667,000,000,000 in FY 1983, $739,000,000,000 in FY 1984, and $822,000,000,000 in FY 1985. Sets the amount by which the aggregate levels of Federal revenues should be increased at $22,000,000,000 in FY 1983, $37,000,000,000 in FY 1984, and $42,000,000,000 in FY 1985. States that the appropriate levels of total new budget authority are $777,600,000,000 in FY 1982, $831,700,000,000 in FY 1983, $892,300,000,000 in FY 1984, and $966,000,000,000 in FY 1985. Sets the appropriate levels of total budget outlays at $740,700,000,000, in FY 1982, $779,100,000,000, in FY 1983, $825,000,000,000 in FY 1984, and $878,500,000,000 in FY 1985. Sets the appropriate reductions of outlays or increases of revenues, or a combination thereof, to assure the solvency of the Social Security Old-Age and Survivors Insurance Trust Fund at $6,000,000,000 in FY 1983, $17,000,000,000 in FY 1984, and $17,000,000,000 in FY 1985. States that the amounts of the deficits in the budget which are appropriate in light of economic conditions and other relevant factors are $117,700,000,000 in FY 1982, $106,100,000,000 in FY 1983, $69,000,000,000 in FY 1984, and $39,500,000,000 in FY 1985. Sets the appropriate levels of public debt at $1,144,200,000,000 in FY 1982, $1,290,000,000,000, in FY 1983, $1,414,600,000,000 in FY 1984, and $1,522,900,000,000 in FY 1985. Sets forth the increase in the temporary statutory limit on such debt at $64,400,000,000 in FY 1982, $145,800,000,000 in FY 1983, $124,600,000,000 in FY 1984, and $108,300,000,000 in FY 1985. Sets the appropriate levels of total Federal credit activity for: (1) new direct loan obligations at $67,300,000,000 for FY 1982 and at $63,600,000,000 for FY 1983; (2) new primary loan guarantee commitments at $93,000,000,000 for FY 1982 and at $102,500,000,000 for FY 1983; and (3) new secondary loan guarantee commitments at $69,000,000,000 for FY 1982 and at $68,300,000,000 for FY 1983. Sets forth the appropriate levels of new budget authority and outlays, for FY 1982 through 1985, and the appropriate levels of new direct loan obligations, new primary loan guarantee commitments, and new secondary loan guarantee commitments for FY 1982 and FY 1983 for each major functional category. Requires specified House and Senate committees to recommend program changes in laws within their respective jurisdictions to reduce budget authority and outlays for fiscal years 1983, 1984, and 1985 by specified amounts. Requires such committees, not later than June 18, 1982, to submit their recommendations to the Committees on the Budget of their respective Houses. Requires the Committees on the Budget to report to the House and the Senate a reconciliation bill or resolution or both carrying out all such recommendations without any substantive revision. Requires the Senate Committee on Finance and the House Committee on Ways and Means to report to their respective Houses, by June 11, 1982, changes in laws within the jurisdiction of such committees: (1) which provide spending authority sufficient to reduce budget authority and outlays by specified amounts through FY 1985; (2) sufficient to increase revenues by specified amounts through FY 1985; and (3) sufficient to increase receipts from user fees authorized by those committees by specified amounts through FY 1985. Requires such committees to also report, by December 1, 1982, changes in laws within the jurisdiction of such committees so as to reduce outlays or increase revenues, or a combination thereof, by specified amounts for FY 1983 through 1985, in order to insure the solvency of the Social Security Old-Age and Survivors Insurance Trust Fund. Requires such reports to take into account the recommendations of the National Commission on Social Security Reform. Declares that it is the sense of the Congress that the President should direct the National Commission on Social Security Reform to report its recommendations to Congress not later than November 11, 1982. Declares that it is the sense of the Senate that Senate committees instructed in this resolution should begin deliberations on the legislation those committees are required to report under this resolution as soon as this resolution is agreed to in the Senate. Declares that it is the sense of the Congress that the President should limit total Federal Financing Bank origination of direct loans guaranteed by other Federal agencies and purchases of loan assets from Federal agencies to specified amounts in FY 1983, and that direct borrowing transactions of Federal agencies should be, to the maximum extent possible, restricted to the Federal Financing Bank. Declares that it shall not be in order in either the House or the Senate during FY 1982 and FY 1983 to consider any bill, resolution, or amendment, except proposed legislation reported in response to reconciliation instructions, authorizing new direct loan obligations or new loan guarantee commitments unless that bill, resolution, or amendment also provides that the authority to make or guarantee such loans shall be effective only to such extent or in such amounts as are contained in appropriation Acts. Declares that it is the sense of Congress that it is urgent that effective budgetary control be established over all types of Federal direct loans and Federal loan guarantees. Prohibits any bill or resolution providing new budget authority for fiscal year 1983 or providing new spending authority in excess of the reconciliation proposals of a committee or subcommittee from being enrolled until Congress has completed action on the Second Budget Resolution for that fiscal year. Declares that it is the sense of the Senate that the new spending and revenue levels for fiscal year 1982, adopted by the Senate, shall be the ceilings against which the spending and revenue actions of the Senate will be measured pending final agreement with the House on the revision of the Second Concurrent Resolution on the Budget for FY 1982. Declares that it is also the sense of the Congress that if Congress acts to restore fiscal responsibility and reduces projected budget deficits in a substantial and permanent way, then the Federal Reserve Open Market Committee shall reevaluate its monetary targets in order to assure that they are fully complementary to a new and more restrained fiscal policy.
Resolution· HRESH.Res. 457 (97th)referred
United States · United States Congress · 10 May 1982
Declares that the House of Representatives should not make any reductions in old age, survivors and disability insurance benefits in its budget resolution.
Bill· SS. 2501 (97th)open
United States · United States Congress · 6 May 1982
Authorizes appropriations for FY 1983 through 1985 to the General Services Administration for: (1) the National Historical Publications and Records Commission; and (2) allocations to Federal agencies and grants to States and local agencies and nonprofit organizations for the collection, description, preservation, and publication of historical documents.