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351 records in US in 2007
United States · United States Congress · 17 September 2007
Sets $25 million as the maximum amount per fiscal year for reimbursement to states and local agencies administering veterans' education benefits.
United States · United States Congress · 17 September 2007
Airport and Airway Trust Fund Financing Act of 2007 - Amends the Internal Revenue Code to: (1) impose an excise tax on aviation-grade kerosene; (2) increase the tax rate for aviation gasoline; (3) extend through FY2011 excise taxes on transportation by air of persons and property and on aviation gasoline and aviation-grade kerosene; (4) extend through FY2011 the expenditure authority for the Airport and Airway Trust Fund; and (5) dedicate increased revenues resulting from this Act to air traffic control modernization.
United States · United States Congress · 17 September 2007
New IDEA (Illegal Deduction Elimination Act) - Amends the Internal Revenue Code to deny a tax deduction for wages paid to or on behalf of an unauthorized alien.
United States · United States Congress · 17 September 2007
Restore American Dream Act of 2007 - Amends the Internal Revenue Code to establish tax-exempt homeownership plans. Allows a tax deduction from gross income for cash contributions to such plans. Defines "homeownership plan" as a trust established for the exclusive purpose of paying the costs (e.g., downpayment, interest, mortgage insurance, closing costs, etc.) of acquiring a principal residence by an individual who has never owned a principal residence. Excludes from gross income distributions from a homeownership plan used to pay the costs of acquiring a principal residence. Sets forth rules governing: (1) transfers of an interest in a plan due to death or divorce; (2) penalties for making distributions from a plan for purposes other than to acquire a principal residence; and (3) employer homeownership plans established for the benefit of their employees.
United States · United States Congress · 17 September 2007
Federal Aviation Administration Extension Act of 2007 - Amends the Internal Revenue Code to extend through December 31, 2007: (1) the excise taxes on aviation fuels and air transportation of persons and property for funding the Airport and Airway Trust Fund; and (2) the expenditure authority for such Trust Fund.
United States · United States Congress · 14 September 2007
Amends the Internal Revenue Code to make permanent the taxpayer election to treat combat zone compensation as earned income for purposes of calculating earned income tax credit amounts.
United States · United States Congress · 14 September 2007
Energy Efficient Appliance Tax Credit for Washers and Dryers Act of 2007 - Amends the Internal Revenue Code to allow a tax credit for 25% of the cost (up to $500) of clothes washers and dryers which meet requirements for the Energy Star program. Terminates such credit after 2016.
United States · United States Congress · 14 September 2007
Taxpayers' Cancer Research Funding Act of 2007- Amends the Internal Revenue Code to allow taxpayers to designate on their tax returns a $5 contribution to the Breast and Prostate Cancer Research Fund ($10 for joint returns). Establishes in the Treasury the Breast and Prostate Cancer Research Fund to award grants for breast or prostate cancer research.
United States · United States Congress · 14 September 2007
Homebuyer's Protection Act of 2007 - Amends the Truth in Lending Act to require a creditor to establish, in an insured depository institution, an escrow or impound account for payment of taxes and hazard insurance at the time of the consummation of a subprime mortgage transaction. Requires such account to remain in existence for as long as the subprime mortgage is outstanding. Requires creditors, before consummating a consumer credit transaction involving an impound, trust, or escrow account, to provide the following written disclosures: (1) that an escrow or impound account will be established; (2) the amount required to fund such account; (3) the amount in the initial year of estimated taxes and hazard insurance premiums; and (4) the estimated monthly amount payable for taxes and hazard insurance. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to extend its appraisal requirements to all real estate related financial transactions, not only those that are federally related.
United States · United States Congress · 12 September 2007
Prohibits the Secretary of Agriculture from closing or relocating any Farm Service Agency (FSA) county or field office until at least one year after enactment of an omnibus law to provide for the continuation of agricultural programs for fiscal years after 2007.
United States · United States Congress · 12 September 2007
Independent Contractor Proper Classification Act of 2007 - Amends the Revenue Act of 1978 to: (1) require employers to treat workers misclassified as independent contractors as employees for employment tax purposes upon a determination of misclassification by the Secretary of the Treasury; (2) repeal the ban on Treasury regulations or revenue rulings on employee/independent contractor classifications; and (3) eliminate the defense of industry practice as a justification for misclassifying workers as independent contractors. Requires the Secretary to establish a procedure for workers to petition for a determination of their status as employees or independent contractors. Prohibits employers from retaliating against workers filing a petition. Requires the Secretary to take certain actions upon determining that an employee has been misclassified as an independent contractor, including informing the Department of Labor of such misclassification. Requires the Secretaries of the Treasury and Labor to issue annual reports and exchange information on worker misclassification cases. Directs the Secretary of Labor to: (1) identify and track complaints involving worker misclassification for purposes of enforcing wage and hour laws; and (2) investigate industries identified by the Internal Revenue Service (IRS) as misclassifying workers. Directs the Secretary of Labor to include on workplace posters required by the Fair Labor Standards Act a notice informing workers of their right to seek a status determination (i.e., whether they are employees or independent contractors) from the IRS. Requires employers to: (1) notify their independent contractors of their federal tax obligations, the labor and employment protections inapplicable to independent contractors, and their right to seek a status determination from the IRS; and (2) maintain for three years a list of their independent contractors, including names and tax identification numbers.
United States · United States Congress · 12 September 2007
Amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $1.971 million (from $1.2 million), with an annual inflation adjustment to that increased amount after 2007.
United States · United States Congress · 10 September 2007
Preventing Government Shutdown Act of 2007 - Provides for automatic continuing appropriations if any regular appropriation for a fiscal year (or, if applicable, for each fiscal year in a biennium) does not become law before the beginning of such fiscal year, or a joint resolution making continuing appropriations is not in effect. Appropriates amounts necessary to continue any project or activity for which funds were provided in the preceding fiscal year: (1) in the corresponding regular appropriation Act for such preceding fiscal year; or (2) if such legislation did not become law, then in the joint resolution making continuing appropriations for such preceding fiscal year. Requires the appropriations and funds made available, and authority granted, for any fiscal year for a project or activity to be available for the period beginning with the first day of a lapse in appropriations and ending with the earlier of: (1) the date on which the applicable regular appropriation bill for such fiscal year becomes law (whether or not such law provides for such project or activity) or a continuing resolution making appropriations becomes law, as the case may be; or (2) the last day of such fiscal year.
United States · United States Congress · 10 September 2007
Affordable Health Care for Americans Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction from gross income for the health insurance costs of an individual taxpayer, the taxpayer's spouse, and dependents (available whether or not a taxpayer itemizes deductions).
United States · United States Congress · 10 September 2007
Long-Term Care Tax Reduction Act of 2007 - Amends the Internal Revenue Code to exclude from gross income distributions from an individual retirement account and other tax-exempt retirement plans used to pay long-term care insurance premiums.
United States · United States Congress · 10 September 2007
Health Insurance Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) allow individual taxpayers a refundable tax credit for health insurance costs paid for the benefit of the taxpayer, the taxpayer's spouse, and dependents; (2) require business taxpayers who receive payments for certain employee health insurance coverage to file informational returns; and (3) direct the Secretary of the Treasury to make advance payments of health insurance tax credit amounts to health insurance providers.
United States · United States Congress · 7 September 2007
Cell Phone Consumer Empowerment Act of 2007 - Requires that a wireless telephone service provider disclose, in a plain and conspicuous way, contract information regarding terms, charges, minutes, taxes and surcharges, and E-911 service in any publication of the contract, before a consumer enters into the contract, and in advertising. Requires wireless service bills to be clearly organized and use plain language, have taxes and fees in a separate section, and itemize roaming charges. Requires each provider to make available a map showing the wireless telephone service area of the provider and the wireless telephone service area of the provider in each state. Requires the Federal Communications Commission (FCC) to monitor the quality of wireless telephone service provided in the United States by requiring semiannual reports of wireless service providers. Requires that early termination fees be prorated over the term of a wireless subscriber's contract in a way that reasonably links the fee to recovery of the cost of the device or other legitimate business expenses. Regulates service contract extensions, cancellation penalties, and changes in rates, terms, or conditions. Amends the Servicemembers Civil Relief Act to allow a member of the uniformed services to terminate a cellular phone service contract in specified circumstances involving service of at least 90 days. Preempts inconsistent state laws.
United States · United States Congress · 7 September 2007
Foreclosure Tax Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income up to $50,000 of the amount attributable to a discharge of mortgage indebtedness or to a refinancing of a principal residence. Limits such tax exclusion to taxpayers with modified adjusted gross incomes of $100,000 or less ($200,000 in the case of a joint tax return).
United States · United States Congress · 7 September 2007
Clear Law Enforcement for Criminal Alien Removal Act of 2007 or the Charlie Norwood CLEAR Act of 2007 - States that: (1) state and local law enforcement personnel, in the course of their routine duties, have the inherent authority to investigate, apprehend, or transfer to federal custody aliens in the United States (including interstate transportation of such aliens to detention centers) in order to assist in the enforcement of U.S. immigration laws; and (2) effective two years after enactment of this Act, a state that has in effect a statute, policy, or practice prohibiting such law enforcement assistance shall not receive certain federal incarceration assistance. Provides for the listing of immigration violators in the National Crime Information Center database. Directs states and localities to provide the Secretary of Homeland Security (DHS) with specified information about apprehended aliens who are believed to be in violation of U.S. immigration laws. Provides federal reimbursement for related state and local costs. (States that such provision shall not require state or local enforcement officials to provide DHS with information related to a victim of a crime or witness to a criminal offense.) Directs the Secretary to make grants to states and political subdivisions that enforce immigration laws in the course of their routine law enforcement duties for special equipment and facilities related to arresting, detaining, or transporting illegal aliens. Directs the Secretary to: (1) construct or acquire 20 additional detention facilities for aliens detained pending removal (or a decision on removal); and (2) consider the transfer of military installations under base closure laws for such purposes. Amends the Immigration and Nationality Act with respect to illegal aliens apprehended by state or local authorities to provide for: (1) federal custody upon state or local request; and (2) state or local compensation for related incarceration and transportation costs. States with respect to an alien subject to removal that the Attorney General or Secretary shall ensure such alien's detention in an adequate (as defined by this Act) state or local prison, detention center, or other comparable facility prior to his or her removal examination. Directs the Secretary to establish immigration-related training for state and local personnel. Provides: (1) personal liability immunity to the same extent as corresponding federal immunity for state or local personnel enforcing immigration laws within the scope of their duties under this Act; and (2) civil rights money damage immunity for state or local agencies enforcing immigration laws unless their personnel violated criminal law in such enforcement. Continues the institutional removal program (IRP), which shall be expanded to all states. Authorizes state or local detention of an illegal alien after completion of such alien's prison sentence for: (1) up to 14 days to facilitate federal transfer; or (2) until transfer to the U.S. Immigration and Customs Enforcement. Authorizes appropriations for FY2008 and subsequent fiscal years for the state criminal alien assistance program (SCAAP).
United States · United States Congress · 7 September 2007
Surface Transportation and Taxation Equity Act or STATE Act - Amends the Internal Revenue Code to reduce the federal excise tax on gasoline and special fuels (but not below two cents per gallon) by corresponding increases in fuel taxes imposed by States after March 5, 2007.
United States · United States Congress · 7 September 2007
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a limited partnership in a partnership to purchase or carry certain securities or commodities.
United States · United States Congress · 6 September 2007
Build America Bonds Act of 2007 - Amends the Internal Revenue Code to allow an income tax credit to a taxpayer holding a Build America bond on one or more of its credit allowance dates. Defines a "Build America bond" as any bond issued by the Transportation Finance Corporation as part of an issue if 95% or more of the proceeds from such issue are to be used for expenditures incurred for one or more qualified projects. Requires proceeds from the sale of bonds issued under this Act to be held in a Build America Bonds Trust Account. Defines "qualified project" as the capital improvements to any transportation infrastructure project (including roads, bridges, rail and transit systems, ports, and inland waterways) proposed by one or more states and approved by the Transportation Finance Corporation. Grants Congress' consent and recognition to the establishment by two or more state infrastructure banks of the Transportation Finance Corporation. Authorizes the Transportation Finance Corporation to: (1) issue Build America bonds for the financing of qualified projects; (2) establish and operate the Build America Bonds Trust Account; (3) leverage resources and stimulate public and private investment in transportation infrastructure; and (4) perform any other function the sole purpose of which is to carry out the financing of qualified projects through Build America bonds. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States through October 14, 2026.
United States · United States Congress · 6 September 2007
Prohibits the Secretary of Agriculture from closing or relocating any Farm Service Agency (FSA) county or field office until at least one year after enactment of an omnibus law to provide for the continuation of agricultural programs for fiscal years after 2007 unless such office, for 180 consecutive days during the two-year period ending on such date of enactment, had zero employees.
United States · United States Congress · 6 September 2007
Amends the Internal Revenue Code to allow a tax credit for 50% of the cost of qualified advanced mine safety equipment property (in lieu of the existing taxpayer election to expense 50% of such property in the current taxable year). Defines such property to include: (1) an emergency communication technology or device for constant communication with individuals outside the mine; (2) an electronic identification and location device; (3) an emergency oxygen-generating device; (4) pre-positioned oxygen supplies; and (5) a comprehensive atmospheric monitoring system to monitor levels of carbon monoxide and other gases present in a mine. Revises the tax credit for mine rescue team training expenses to: (1) increase the amount of such credit; (2) allow such credit as an offset against the alternative minimum tax; and (3) make such credit permanent.
United States · United States Congress · 6 September 2007
Amends the Floyd D. Spence National Defense Authorization Act for Fiscal Year 2001 to modify the purposes for which the Naval Aviation Museum Foundation at the National Museum of Naval Aviation at Naval Air Station, Pensacola, Florida, may operate the National Flight Academy to include the teaching of science, technology, engineering, and mathematics disciplines that impact on and deal with aviation.
United States · United States Congress · 6 September 2007
Universal College Credit Act - Amends the Internal Revenue Code to allow a tax credit up to $4,000 annually for the qualified tuition and related expenses of an individual taxpayer, a taxpayer's spouse, and dependents. Allows such credit for four years of undergraduate education expenses and six years of graduate or professional education expenses. Excludes expenses for courses involving sports, games, or hobbies (unless part of a degree program) and expenses unrelated to an academic program (e.g., student activity fees, athletic fees, or insurance fees).
United States · United States Congress · 6 September 2007
Sets forth the rule for consideration of the conference report to accompany the bill (H.R. 2669) to provide for reconciliation pursuant to section 601 of the concurrent resolution on the budget for fiscal year 2008.
United States · United States Congress · 5 September 2007
Amends the Internal Revenue Code to increase the unified credit against the estate and gift tax to $5 million after 2009 and to adjust such amount for inflation for estates opened after 2010. Restores previous estate tax and carryover basis provisions temporarily repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Modifies the general termination date of such Act (i.e., December 31, 2010) as it applies to certain EGTRRA estate and gift tax provisions.
United States · United States Congress · 4 August 2007
Community Forestry Conservation Act of 2007 - Provides for the treatment of qualified forest conservation bonds as tax-exempt facility bonds under the Internal Revenue Code. Defines "qualified forest conservation bonds" as bonds issued for certain forestry organizations within 36 months after the enactment of this Act. Requires 95% or more of the net proceeds of such bonds to be used for specified forestry project costs, including the acquisition of forest lands subject to a conservation restriction. Exempts from income tax income, gains, and other tax incidents generated by certain harvesting activity on forest lands purchased with qualified forest conservation bonds.
United States · United States Congress · 4 August 2007
Requires the Secretary of the Treasury to enter into an agreement with the Free File Alliance to provide a forms-based software service for all individual taxpayers to electronically prepare and file their federal income tax returns through the Internal Revenue Service (IRS) website, free of charge, for taxable years beginning after 2007. Requires the Free File Alliance to meet certain standards promulgated by the federal government for business responsibility and commerciality of products or services. Prohibits the Secretary from implementing a return-free tax system for taxable years beginning after 2007, unless authorized to do so by an Act of Congress.
United States · United States Congress · 4 August 2007
Amends the Internal Revenue Code to allow holders of clean renewable water supply bonds a tax credit of 25% of the annual credit amount as determined by the Secretary of the Treasury. Defines "clean renewable water supply bond" as any bond issued by a governmental body or an entity qualified to issue tax-exempt bonds that is used for capital expenditures for projects involving a qualified desalination facility, a recycled water facility, or a groundwater remediation facility. Sets forth rules for maturity limitations, arbitrage, and expenditures, including a requirement that 95% of the proceeds of a bond issue be spent on one or more clean renewable water supply projects within five years from the date of a bond issuance.
United States · United States Congress · 3 August 2007
First-Time Homebuyers' Tax Credit Act of 2007 - Amends the Internal Revenue Code to: (1) allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers); (2) allow transfer of such credit (within 30 days of transfer application) as payment towards related downpayment and closing costs; and (3) apply the credit to purchases made on or after January 1, 2008, and before January 1, 2013, and to binding contracts made between such dates, and in which the residence is occupied before July 1, 2014.
United States · United States Congress · 3 August 2007
Amends the Internal Revenue Code to exclude from the gross estate of a decedent the value of farmland used by an heir of the decedent for farming purposes. Imposes a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use it for farming purposes.
United States · United States Congress · 3 August 2007
Amends the Internal Revenue Code to reduce from $18 to $9 (its pre-1991 level) the per-barrel tax on beer.
United States · United States Congress · 3 August 2007
Amends the Internal Revenue Code to allow the issuance of tax-exempt facility bonds through 2012 to make automobile development and production facilities built before 1981 compatible for the development and production of qualified alternative motor vehicles and component parts.
United States · United States Congress · 3 August 2007
REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.
United States · United States Congress · 3 August 2007
Export Enforcement Act of 2007 - Amends the Export Administration Act of 1979 (the Act) to place the Office of Foreign Availability under the direction of the Under Secretary of Commerce for Industry and Security (under current law, the Under Secretary of Commerce for Export Administration). Increases penalties for violations of the Act. Sets forth a five-year statute of limitations for commencing a proceeding in which a civil penalty or other administrative sanction is sought under the Act. Modifies enforcement mechanisms under the Act. Subjects tangible items lawfully seized by U.S. designated officers or employees to forfeiture. Specifies the use of funds made available for undercover investigation operations by the Office of Export Enforcement. Authorizes the Secretary of Commerce, without fiscal year limitations, to expend funds transferred to, paid to, received by, or made available to the Bureau of Industry and Security of the Department of Commerce as a reimbursement. Exempts functions exercised under the Export Administration Regulations as maintained and amended under the authority of the International Emergency Economic Powers Act from administrative procedure and judicial review. Amends the Tariff Act of 1930 to subject every person involved in the export of merchandise contrary to law to a monetary penalty.
United States · United States Congress · 3 August 2007
Military Environmental Responsibility Act - Requires the Department of Defense (DOD) and defense-related agencies (the Department of Energy, the Nuclear Regulatory Commission, the Office of Naval Nuclear Reactors, and any others as designated by the President) to fully comply with designated Federal and State environmental laws, including those related to public health and safety, to the same extent as any other entities subject to such laws. Waives any immunity of the United States with respect to such laws as applied to DOD and any defense-related agency. Provides for administrative enforcement actions. Requires the Secretary of Defense , for each weapon system for which congressional budget justification is required, to ensure that all development and procurement decisions comply with the National Environmental Policy Act of 1969. Repeals: (1) a Federal provision prohibiting the use of certain military appropriation accounts for the payment of fines and penalties for environmental noncompliance; and (2) a provision of the National Defense Authorization Act for Fiscal Year 2000 which prohibits the use of defense funds to conduct treatment, storage, or disposal activities at sites designated under the Formerly Utilized Site Remedial Action Program.
United States · United States Congress · 3 August 2007
Hire a Hero Act - Expresses the sense of Congress that the federal government should support private sector employment initiatives for military personnel to help ensure that those who serve or have served in the Armed Forces have access to gainful employment. Authorizes the Chief of the National Guard Bureau (Chief) to award grants to nonprofit organizations to assist the following individuals in securing employment in the private sector: (1) a member of the National Guard or reserve; (2) a member of the Armed Forces who is nearing separation, discharge, or release; and (3) a former member of the Armed Forces. Expresses the sense of Congress that the Chief, in awarding such grants, should consider organizations that partner with private entities and associations involved in construction, energy, transportation, aerospace, domestic security, and other areas in which the employment of individuals having past military service would be of particular utility. Requires the Chief to establish fiscal control, accountability, and program performance measures for grantees.
United States · United States Congress · 3 August 2007
Sales Tax Fairness and Simplification Act - Grants the consent of Congress to the Streamlined Sales and Use Tax Agreement (Agreement), the multistate agreement for the administration and collection of sales and use taxes adopted on November 12, 2002. Expresses the sense of Congress that the Agreement provides sufficient simplification and uniformity to warrant federal authorizations to states that are parties to it (member states) to require remote sellers (sellers without a physical presence in the taxing state) to collect and remit the sales and use taxes of such states and their local taxing jurisdictions. Authorizes each member state, after 10 states (comprising at least 20% of all states imposing a sales tax) have petitioned for and become member states, to require all sellers, except those sellers with gross remote taxable sales nationwide of less than $5 million, to collect and remit sales and use taxes on remote sales owed to such member state under the terms of the Agreement. Allows any person affected by the Agreement to petition the Governing Board established by the Agreement for a determination of any issue arising under the Agreement. Provides for judicial review of Governing Board determinations by the U.S. Court of Federal Claims. Sets forth minimum simplification requirements for the Agreement. Expresses the sense of Congress that member states should work with each other to prevent double taxation where a foreign country has imposed a transaction tax on a digital good or service
United States · United States Congress · 3 August 2007
Kansas Flood Recovery and Economic Opportunity Act of 2007 - Establishes the federal share of assistance for the state of Kansas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act for the storms and flooding in that state between June 26, 2007, and July 25, 2007, at 100% of eligible costs. Extends to certain areas in Kansas declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1711-DR, as in effect on the date of enactment of this Act) by reason of severe storms and flooding beginning on June 26, 2007, provisions of the Internal Revenue Code allowing: (1) suspension of certain limitations on personal casualty losses; (2) an extension of the period for replacing damaged property without recognizing gain; (3) an employee retention tax credit for affected businesses through 2007; (4) bonus depreciation for certain property acquired after June 26, 2007; (5) increased expensing of small business assets and of demolition and cleanup costs; (6) an increase in the tax credit for rehabilitation expenditures; (7) extended net operating loss carryback periods for losses attributable to storms and for public utility property disaster losses; (8) relaxed income verification requirements for tenants in low-income rental projects; and (9) penalty-free withdrawals and loans from individual retirement accounts and other tax-exempt pension plans.
United States · United States Congress · 3 August 2007
Rural America Digital Accessibility Act - Authorizes the Secretary of Commerce to make grants or guarantee loans in order to facilitate the deployment by the private sector of broadband telecommunications networks and capabilities (including wireless and satellite services) to underserved rural areas. Limits to $100 million the total amount of such grants and loan guarantees. Requires the Director of the National Science Foundation to research the enhancement or facilitation of broadband telecommunications services in rural and other remote areas, as well as Internet access through such services. Amends the Internal Revenue Code to provide a tax credit to holders of qualified technology bonds (bonds representing an investment in projects to expand such telecommunications services). Sets a national technology bond limitation of $100 million for each of FY 2007 through 2011, and zero thereafter (with an exception) to be allocated by the Secretary among the qualified projects designated each year. Directs the Secretary to provide financial assistance for the establishment and support of regional centers for the commercial use of advanced technologies by small and medium-sized businesses.
United States · United States Congress · 3 August 2007
Amends the Internal Revenue Code to make permanent the taxpayer election to expense qualified film and television production costs in the current taxable year.
United States · United States Congress · 3 August 2007
Employee Educational Assistance Act of 2007 - Renders the general terminating date (i.e., December 31, 2010) of the Economic Growth and Tax Relief Reconciliation Act of 2001 inapplicable to provisions of that Act that extended the exclusion of employer-provided educational assistance from the gross income of employees (thus making such tax exclusion permanent).
United States · United States Congress · 3 August 2007
America's Energy Security Trust Fund Act of 2007 - Amends the Internal Revenue Code to impose an excise tax on any taxable carbon substance sold by a manufacturer, producer, or importer. Defines "taxable carbon substance" as: (1) coal (including lignite and peat); (2) petroleum and any petroleum products; and (3) natural gas that is extracted, manufactured, or produced in the United States, or entered into the United States for consumption, use, or warehousing. Establishes in the Treasury the America's Energy Security Trust Fund to finance research in clean energy technology, assist industries negatively affected by this Act, and provide carbon tax rebates to individual taxpayers. Allows individual taxpayers a tax credit equal to carbon tax rebate amounts calculated by the Secretary of the Treasury. Directs the Secretary of the Treasury to study and report to Congress on the best methods to assess and collect taxes on non-carbon greenhouse gases. Expresses the sense of Congress that the major greenhouse gas emitting countries should join with the United States in reducing greenhouse gas emissions.
United States · United States Congress · 3 August 2007
College Affordability Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) increase the tax deduction for tuition and related expenses; (2) allow an inflation adjustment after 2008 of taxpayer adjusted gross income levels used to determine eligibility for, and allowable amounts of, such deduction; and (3) make such deduction permanent.
United States · United States Congress · 3 August 2007
Authorizes appropriations to establish an office in the Internal Revenue Service (IRS) to investigate and prosecute violations of tax laws by individuals under investigation for criminal commercial sex activity. Amends the Internal Revenue Code to increase criminal monetary and other penalties for attempts to evade or defeat tax, willful failure to file a tax return, supply information, or pay tax, aggravated failure to file tax returns, fraud and false statements, and underpayment or overpayment of tax due to fraud.
United States · United States Congress · 3 August 2007
Responsible Fatherhood and Healthy Families Act of 2007 - Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act (SSA) with respect to: (1) funding for responsible fatherhood programs; (2) requirements to ensure procedures to address domestic violence; (3) activities promoting responsible fatherhood; (4) grants to healthy family partnerships for domestic violence prevention, for services for families and individuals affected by domestic violence, and for developing and implementing best practices; and (5) elimination of separate TANF work participation rate for two-parent families. Amends SSA title IV part D (Child Support and Establishment of Paternity) to prohibit a state from collecting any amount owed it by reason of costs it has incurred for the birth of a child for whom support rights have been assigned. Requires a state to make a full distribution of collected child support to the family. Directs the Secretary of Health and Human Services to award grants to states for an employment demonstration project involving a court- or state child support agency-supervised program for noncustodial parents so they can pay child support obligations. Directs the Secretary of Labor to award grants for transitional jobs programs and for public-private career pathways partnerships. Conditions continued approval of a state plan under part D upon state assessment of its policies with respect to barriers to employment and financial support of children. Amends the Food Stamp Act of 1977 with respect to: (1) deductions from family income for child support received in order to qualify for food stamps; (2) verification of child support payments; and (3) inclusion of economic opportunities programs in qualifying work programs. Amends the Internal Revenue Code to: (1) modify the earned income tax credit (EIC); (2) raise the EIC phase-out amount for couples (further easing the "marriage penalty"); and (3) require information pertaining to the customer's adjusted basis in broker's returns in the case of securities transactions. Amends the American Jobs Creation Act of 2004 with respect to the effective date of leasing provisions of the Act. Amends the Internal Revenue Code with respect to the economic substance doctrine.
United States · United States Congress · 3 August 2007
Mobile Workforce State Income Tax Fairness and Simplification Act of 2007- Limits state or local taxation of the compensation of any employee who performs duties in more than one state or locality to: (1) the state or locality of the employee's residence; and (2) the state or locality in which the employee is physically present performing duties for more than 60 days.
United States · United States Congress · 3 August 2007
Commission on the Tax Treatment of Hedge Funds and Private Equity Act of 2007 - Establishes the Commission on the Tax Treatment of Hedge Funds and Private Equity to review and make recommendations to Congress on the tax treatment of the U.S. hedge fund and private equity industry.