Taxation

Invest in Small Business Act of 2008

United States · United States Congress · 16 July 2008

Invest in Small Business Act of 2008 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of the gain from the sale or exchange of qualified small business stock from 50 to 100% of such gain and reduce the holding period for such stock from five to three years; (2) disqualify stock held by members of a 25% controlled group of corporations for such tax exclusion; (3) repeal gain from the sale or exchange of qualified small business stock as an item of tax preference for purposes of the alternative minimum tax; (4) repeal the maximum 28% tax rate on gain from the sale or exchange of qualified small business stock; and (5) increase to $100 million (adjusted for inflation after 2009) the aggregate asset limitation for determining eligibility of the stock of corporations for qualified small business stock tax treatment.

Genomics and Personalized Medicine Act of 2008

United States · United States Congress · 15 July 2008

Genomics and Personalized Medicine Act of 2008 - Directs the Secretary of Health and Human Services to: (1) establish the Genomics and Personalized Medicine Interagency Working Group (IWG) to facilitate collaboration, coordination, and integration of activities among federal agencies relating to genomic research and initiatives; (2) expand and accelerate research and programs to collect genetic and genomic data that will advance the field of genomics and personalized medicine; (3) establish a national biobanking distributed database for the collection and integration of genomic data and associated environmental and clinical health information; (4) establish a grant program for academic medical centers and other entities to develop or expand biobanking initiatives; (5) improve genetics and genomics training for diagnosis, treatment, and counseling of adults and children for both rare and common disorders; (6) establish a registry on the analytical and clinical validity of laboratory-developed genetic tests; (7) contract with the National Academy of Sciences to study incentives to encourage companion diagnostic test development; and (8) make information available on the safety and efficacy of genetic tests and commission a study for improving federal oversight and regulation of such tests. Requires the Director of the Centers for Disease Control and Prevention (CDC) to: (1) conduct an analysis of the public health impact of direct-to-consumer marketing of genetic tests; and (2) expand efforts to educate the public about genomics and its health applications. Amends the Internal Revenue Code to establish a companion diagnostic tax credit for qualified diagnostic tests designed to provide information that can be used to increase the safety or effectiveness of a drug.

Transportation and Housing Choices for Gas Price Relief Act of 2008

United States · United States Congress · 15 July 2008

Transportation and Housing Choices for Gas Price Relief Act of 2008 - Directs the Secretary of Transportation to: (1) carry out a competitive grant program that supports community efforts to invest in transportation alternatives and travel demand management strategies; and (2) award grants to eligible entities, giving priority to activity proposals for reducing single occupancy vehicle trips. Provides certain formula grant funding for specified improvement activities to increase use of public transportation. Requires the Secretary to award grants for a national consumer awareness program on the environmental, energy, and economic benefits of transportation alternatives to the single occupancy vehicle, including carpooling, vanpooling, transit, and bicycles. Amends the Internal Revenue Code to: (1) allow a telework tax credit of up to $400 per year; (2) include a qualified bicycle commuting reimbursement as a qualified transportation fringe benefit, excludable from gross income; (3) equalize and increase to $200, with a modified cost-of-living adjustment, the tax exclusion for both transportation and parking fringe benefits; (4) make self-employed individuals eligible for transit pass fringe benefits; (5) include employer-established parking cash-out programs as qualified transportation fringe benefits; and (6) allow a vanpool (general business) tax credit. Requires the Secretary of Housing and Urban Development (HUD) to: (1) incorporate transportation costs associated with location of housing into affordability standards for allocating low-income housing tax credits related to rental assistance vouchers or other affordable housing programs; and (2) develop a model transportation cost field for Multiple Listing Services to measure transportation costs associated with the location of a home. Amends the Federal National Mortgage Association (Fannie Mae) Charter Act and the Federal Home Loan Mortgage Corporation (Freddie Mac) Act to include the use of location-efficient mortgages among their purposes. Amends the Housing and Community Development Act of 1992 to require the Director of the Federal Housing Finance Agency to establish graduated annual goals for the purchase by Fannie Mae and Freddie Mac of location-efficient mortgages for single-family, owner-occupied homes. Requires the Secretary of HUD to make grants to states to construct or acquire affordable housing that is location-efficient. Amends the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU) to include high schools in the safe routes to school program.

Sensible Estate Tax Act of 2008

United States · United States Congress · 15 July 2008

Sensible Estate Tax Act of 2008 - Repeals provisions of the Economic Growth and Tax Reconciliation Act of 2001 relating to the estate and gift tax. Amends the Internal Revenue Code to: (1) allow an estate tax exclusion of $2 million adjusted for inflation in calendar years after 2008; (2) revise the estate tax rates for larger estates; (3) restore the estate tax credit for state estate, inheritance, legacy, or succession taxes; (4) restore the unified credit against the gift tax; and (5) allow a surviving spouse an increase in the unified estate tax credit by the amount of any unused credit of a deceased spouse.

Investing in our Human Resources Act of 2008

United States · United States Congress · 15 July 2008

Investing in our Human Resources Act of 2008 - Amends the Social Security Act to create a new title XXII: Block Grants to States for Transitional Assistance. Creates the Transitional Assistance Trust Fund, consisting of amounts equivalent to taxes attributable to Internet gambling. Entitles each state to a grant each fiscal year for a transitional assistance program which provides for: (1) expanded education and job training opportunities for individuals who are, or were formerly, in foster care; (2) expanded post-secondary education and job training opportunities for individuals who are working in, or had worked in, declining sectors of the economy; and (3) a subsidy for public transportation for unemployed individuals. Directs the Secretary of Health and Human Services to establish a Safe Internet Gambling Practices Program to promote responsible Internet gambling behavior and awareness of unsafe Internet gambling practices.

Providing for consideration of the bill (H.R. 5959) to authorize appropriations for fiscal year 2009 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes.

United States · United States Congress · 15 July 2008

Sets forth the rule for consideration of the bill (H.R. 5959) to authorize appropriations for fiscal year 2009 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System.

Financial Services and General Government Appropriations Act, 2009

United States · United States Congress · 14 July 2008

Financial Services and General Government Appropriations Act, 2009 - Department of the Treasury Appropriations Act, 2009 - Makes appropriations for FY2009 for the Department of the Treasury. Executive Office of the President Appropriations Act, 2009 - Makes appropriations for FY2009 for the Executive Office of the President. The Judiciary Appropriations Act, 2009 - Makes appropriations for FY2009 for the U.S. Supreme Court and other federal courts and related offices. District of Columbia Appropriations Act, 2009 - Makes appropriations for FY2009 for the District of Columbia. Makes appropriations for FY2009 for: (1) the Christopher Columbus Fellowship Foundation; (2) the Commodity Futures Trading Commission (CFTC); (3) the Consumer Product Safety Commission (CPSC); (4) the Election Assistance Commission; (5) the Federal Communications Commission (FCC); (6) the Federal Deposit Insurance Corporation (FDIC); (7) the Federal Election Commission (FEC); (8) the Federal Labor Relations Authority (FLRA); (9) the Federal Trade Commission (FTC); (10) the General Services Administration (GSA); (11) the Merit Systems Protection Board; (12) the Morris K. Udall Scholarship and Excellence in National Environmental Policy Foundation; (13) the National Archives and Records Administration (NARA); (14) the National Credit Union Administration (NCUA); (15) the Office of Government Ethics; (16) the Office of Personnel Management (OPM); (17) the Office of Inspector General; (18) the Office of Special Counsel; (19) the Postal Regulatory Commission; (20) the Privacy and Civil Liberties Oversight Board; (21) the Securities and Exchange Commission (SEC); (22) the Selective Service System; (23) the Small Business Administration (SBA); (24) the Harry S. Truman Scholarship Foundation; (25) the United States Postal Service; and (26) the United States Tax Court. Specifies certain uses and limits on or prohibitions against the use of funds appropriated by this Act.

Diesel Tax Parity Act of 2008

United States · United States Congress · 14 July 2008

Diesel Tax Parity Act of 2008 - Amends the Internal Revenue Code to reduce the excise tax on diesel fuel for a specified period ending on December 31, 2008. Provides for reimbusement from the Treasury to the Highway Trust Fund for any reduction in Trust Fund receipts resulting from this reduction in diesel fuel taxes.

GENERAL SERVICES ADMINISTRATION'S FISCAL YEAR 2009 CAPITAL INVESTMENT AND LEASING PROGRAM

United States · United States House of Representatives · 11 July 2008

A bill to amend the Internal Revenue Code of 1986 to allow banks to be taxed as limited liability companies, and for other purposes.

United States · United States Congress · 11 July 2008

Amends the Internal Revenue Code to allow a state-chartered banking entity to elect to be treated as a partnership or separate entity for tax purposes if it is organized as a limited liability company under state law and has Federal Deposit Insurance Corporation (FDIC) insurance. Exempts such an entity from treatment as a bank under the Internal Revenue Code for purposes of its bad debts, losses, gains from the sale of its securities, and the taxation of its common trust funds.

Fair Deal for Volunteers Act of 2008

United States · United States Congress · 10 July 2008

Fair Deal for Volunteers Act of 2008 - Amends the Internal Revenue Code to provide that the standard mileage rate for the tax deduction for use of a passenger automobile for charitable purposes (currently prescribed as 14 cents per mile) shall be determined by the Secretary of the Treasury.

A bill to amend the Internal Revenue Code of 1986 to allow expenses relating to all home schools to be qualified education expenses for purposes of a Coverdell education savings account.

United States · United States Congress · 10 July 2008

Amends the Internal Revenue Code to allow payment of home school expenses from Coverdell education savings accounts.

A bill to amend the Internal Revenue Code of 1986 to expand the Coverdell education savings accounts to allow home school education expenses, and for other purposes.

United States · United States Congress · 10 July 2008

Amends the Internal Revenue Code to allow: (1) payment of home school expenses from Coverdell education savings accounts; and (2) an annual inflation adjustment after 2008 to the contribution limit amount for such accounts. Makes permanent provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 relating to Coverdell education savings accounts, including an increase in the contribution limit amount for such accounts.

Mobile Wireless Tax Fairness Act of 2008

United States · United States Congress · 10 July 2008

Mobile Wireless Tax Fairness Act of 2008 - Prohibits states or local governments from imposing any new discriminatory tax on mobile services, mobile service providers, or mobile service property for five years after the enactment of this Act. Defines "new discriminatory tax" as a tax imposed on mobile services, providers, or property that is not generally imposed on other types of services or property, or that is generally imposed at a lower rate.

Stephanie Tubbs Jones Organ Transplant Authorization Act of 2008

United States · United States Congress · 10 July 2008

Organ Transplant Authorization Act of 2008 - Amends the Public Health Service Act to increase the maximum amount of funds provided for the establishment and operation of the Organ Procurement and Transplantation Network for any fiscal year.

To provide for extensions of certain authorities of the Department of State, and for other purposes.

United States · United States Congress · 10 July 2008

Amends the Foreign Service Act of 1980 to extend for one year the Secretary of State's authority to waive Foreign Service annuitant salary and full-time employment pension restrictions respecting assignment to: (1) consular posts with a substantial visa application backlog; and (2) Iraq and Afghanistan. Amends the State Department Basic Authorities Act of 1956 to specify that the Secretary may pay the subsistence expenses of Department of State special agents on authorized protective missions at or away from their duty stations. Amends the United States International Broadcasting Act of 1994 to extend grant authority for Radio Free Asia for one year. Amends the Foreign Relations Authorization Act, Fiscal Year 2003 to extend for one year the International Broadcasting Bureau personal services contracting pilot program under which U.S. citizens or aliens are hired as personal services contractors, without regard to Civil Service and classification laws.

To amend the Energy Policy and Conservation Act to modify the conditions for the release of products from the Northeast Home Heating Oil Reserve Account, and for other purposes.

United States · United States Congress · 10 July 2008

Amends the Energy Policy and Conservation Act to revise requirements for the sale by the Secretary of Energy of products from the Northeast Home Heating Oil Reserve. Authorizes the Secretary to sell from the Reserve if the President finds that: (1) there is a severe energy supply interruption (as under existing law); or (2) the price of home heating oil threatens the health and safety of residents of the Northeast. Requires the Secretary to sell specified percentages of the quantity of products in the Reserve as of November 1 of a fiscal year if the President finds that, on successive monthly winter dates of the same fiscal year, the average retail price of No.2 heating oil in the Northeast is equal to or more than $4.00 per gallon. Requires the Secretary to use: (1) half of any revenue derived from such sales to provide assistance to low-income consumers of heating oil under the Weatherization Assistance Program for Low-Income Persons of the Energy Conservation and Production Act; and (2) half to provide any additional home energy assistance needs of one or more state arising from a natural disaster or other emergency.

Great Lakes Legacy Reauthorization Act of 2008

United States · United States Congress · 10 July 2008

Great Lakes Legacy Reauthorization Act of 2008 - Amends the Federal Water Pollution Control Act (commonly known as the Clean Water Act) to include aquatic habitat restoration activities among activities the Great Lakes National Program Office is authorized to implement for the remediation of sediment contamination in areas of concern. Prohibits the Administrator of the Environmental Protection Agency (EPA) from implementing such a remediation project if any nonfederal sponsor has not entered into a written agreement with the Administrator under which each party agrees to carry out its responsibilities and requirements for the project. Revises provisions concerning the nonfederal share of the project costs. Requires the Administrator to implement at federal expense the initial site characterization of a project for the remediation of contaminated sediment. Repeals a prohibition against implementing a project unless the nonfederal sponsor agrees to maintain aggregate expenditures from all other sources for remediation programs in the area of concern in which the project is located at or above the average level of such expenditures in the two fiscal years preceding the date on which the project is initiated. Authorizes appropriations through FY2013 for: (1) such remediation projects; and (2) the development and use of innovative approaches, technologies, and techniques for such remediation. Limits to 20% the amount of funds appropriated for remediation projects that may be used for site characterization.

Fisheries Fuel Tax Relief Act of 2008

United States · United States Congress · 9 July 2008

Fisheries Fuel Tax Relief Act of 2008 - Amends the Internal Revenue Code to allow commercial fishermen a tax credit for excessive fuel costs (the excess amount paid for such fuel over an adjusted base price).

A bill to reduce the amount of financial assistance provided to the Government of Mexico in response to the illegal border crossings from Mexico into the United States, which serve to dissipate the political discontent with the higher unemployment rate within Mexico.

United States · United States Congress · 9 July 2008

Directs the Secretary of State to: (1) annually estimate the number of illegal border crossings along the southern U.S. land border; and (2) reduce financial assistance to the government of Mexico by a total of $1,000 for each illegal border crossing from Mexico to the United States during the previous fiscal year. Authorizes the Secretary to not reduce appropriations for the government of Mexico from the International Military Education and Training Fund, the International Narcotics Control and Law Enforcement Fund, and the fund to carry out nonproliferation, anti-terrorism, demining, and related programs and activities.

Caregiver Tax Relief Act of 2008

United States · United States Congress · 9 July 2008

Caregiver Tax Relief Act of 2008 - Amends the Internal Revenue Code to allow caregivers of family members or dependents with long-term care needs a refundable income-based tax credit of $2,500 for each such family member or dependent.

To amend the Internal Revenue Code of 1986 to restore the Highway Trust Fund balance.

United States · United States Congress · 9 July 2008

Amends the Internal Revenue Code to transfer from the Treasury $8 billion to the Highway Trust Fund.

A bill to amend the Internal Revenue Code of 1986 to allow a credit for green roofs.

United States · United States Congress · 8 July 2008

Amends the Internal Revenue Code to allow: (1) an 10% energy tax credit for the installation of a qualified green roof; and (2) a residential energy efficient tax credit for 30% of qualified green roof property expenditures up to $2,000. Defines a "qualified green roof" as any green roof which is at least 40% vegetated. Defines "green roof" as any roof which consists of vegetation and soil, or a growing medium, planted over a waterproofing membrane and its associated components.

Animal Generic Drug User Fee Act of 2008

United States · United States Congress · 8 July 2008

Animal Generic Drug User Fee Act of 2008 - Amends the Federal Food, Drug, and Cosmetic Act to require the Secretary of Health and Human Services to collect: (1) an application fee from persons who submit an abbreviated application for a generic new animal drug on or after July 1, 2008; (2) an annual product fee from applicants named in an abbreviated application or supplemental abbreviated application for a generic new animal drug product that has been submitted for listing for commercial distribution who have such an application pending before the Secretary after September 1, 2008; and (3) an annual sponsor fee from generic new animal drug sponsors who have such an application or an investigational submission pending after such date. Sets forth the total revenues to be collected from each of such fees in each of FY2009-FY2013. Provides for revenue adjustments based on application review workloads. Requires the Secretary to establish such fees before each fiscal year based on such revenue amounts and adjustments and total review costs. Deems such an application or investigational submission to be incomplete until all such fees have been paid. Authorizes the Secretary to waive or reduce such fees where the drug is intended solely to provide for a minor use or minor species indication. Conditions fee assessment and obligation on appropriation funding levels. Requires the Secretary to report annually on: (1) the Food and Drug Administration's (FDA's) progress in expediting the development process and the review of abbreviated applications and investigational submissions for generic new animal drugs; and (2) implementation of the fee authority and FDA's use of the fees. Sets forth consultation requirements regarding the process for the review of such abbreviated applications for the five years after FY2013.

Oil Price Reduction Act of 2008

United States · United States Congress · 8 July 2008

Oil Price Reduction Act of 2008 - Prohibits U.S. bilateral assistance and arms exports (not including humanitarian assistance) to any country that is a major net oil exporter, including any country that is a member of the Organization of Petroleum Exporting Countries (OPEC), if such country is engaged in oil price fixing to the detriment of the U.S. economy. Amends the Internal Revenue Code to allow taxpayers who drive a highway vehicle fueled by gasoline or diesel fuel a $1,000 tax credit in 2008.

National Highway Chokepoint Congestion Relief Act

United States · United States Congress · 8 July 2008

National Highway Chokepoint Congestion Relief Act - Directs the Secretary of Transportation to: (1) issue regulations to establish a chokepoint congestion relief program; and (2) develop criteria for designating national chokepoint regions in a state. Authorizes the Secretary to make capital improvement grants to states in order to carry out eligible projects that reduce traffic congestion in the national chokepoint regions. Sets forth a formula for the apportioning of grant funds. Expresses the sense of Congress that: (1) states should adopt both interim and long-term objectives for significantly reducing traffic congestion at chokepoint areas; (2) establishment of performance measures and quantitative goals will allow states to make efficient use of available resources on projects that have the maximum impact in reducing traffic congestion and improving mobility at chokepoint areas; and (3) alleviation of traffic congestion requires Congress to commit to authorizing and funding nonautomotive travel modes as well as travel demand management, growth management, and land use strategies. Requires the Administrator of the Research and Innovative Technology Administration (RITA), through the Volpe National Transportation Systems Center, to study and report to specified congressional committees on the extent to which congestion pricing can encourage travelers to drive during off-peak hours, or change their mode of transportation, and can also generate revenue and thus require less tax-based funding.

Energy Efficient and Environmentally Friendly Automobile Tax Credit Act of 2008

United States · United States Congress · 8 July 2008

Energy Efficient and Environmentally Friendly Automobile Tax Credit Act of 2008 - Amends the Internal Revenue Code to allow individual and business taxpayers: (1) a tax credit for up to $2,000 of the cost of replacing a passenger automobile with another passenger automobile that is at least 20% more fuel efficient; and (2) tax deductions for state and local taxes and loan interest for the replacement automobile.

Carbon Reduction Technology Bridge Act of 2008

United States · United States Congress · 26 June 2008

Carbon Reduction Technology Bridge Act of 2008 - Amends the Internal Revenue Code to allow: (1) seven-year amortization of mechanical or electronic systems that are installed on a coal-fired electric generation unit after 2007 and that reduce carbon dioxide emissions; (2) a tax credit for the production of electricity using closed-loop biomass co-fired with coal; (3) a tax credit for investment in qualified clean coal electric generation units; (4) a tax credit for investment in carbon dioxide capture, transport, and storage property which is part of a qualified coal-fired electric generation unit; and (5) a tax credit for investment in clean energy coal bonds.

KC-Tanker Recompete Act

United States · United States Congress · 26 June 2008

KC-Tanker Recompete Act - Prohibits funds from being used by the Department of Defense (DOD) on the KC-X (aerial refueling) tanker contract. Defines such contract as the contract awarded by the Department of the Air Force on February 29, 2008, for such aircraft. Outlines requirements and conditions as part of the acquisition process for the award of a contract for a replacement for the KC-135 tanker, including: (1) an independent cost estimate; (2) an increase in the proposal cost or price by the amount of any illegal subsidization by a subsidized person; (3) ensuring an evaluation of the cost borne by a supplier and the cost borne by a foreign government; (4) the consideration of national security impacts; (5) defense industrial base considerations; (6) consideration of the loss of U.S. employee and corporate tax revenue when awarding contracts to foreign entities; and (7) the impact of U.S. regulatory burdens. Directs the Secretary of Defense and the contract source selection authority to require any prospective defense contractor or subcontractor not already covered by the Foreign Corrupt Practices Act to comply with such Act's requirements as a contract award condition. Allows a waiver of such requirement for national security purposes.

KC-X Tanker Recompete Act

United States · United States Congress · 26 June 2008

KC-X Tanker Recompete Act - Prohibits funds from being used by the Department of Defense (DOD) on the KC-X (aerial refueling) tanker contract. Defines such contract as the contract awarded by the Department of the Air Force on February 29, 2008, for such aircraft. Outlines requirements and conditions as part of the acquisition process for the award of a contract for a replacement for the KC-135 tanker, including: (1) an independent cost estimate; (2) an increase in the proposal cost or price by the amount of any illegal subsidization by a subsidized person; (3) ensuring an evaluation of the cost borne by a supplier and the cost borne by a foreign government; (4) the consideration of national security impacts; (5) defense industrial base considerations; (6) consideration of the loss of U.S. employee and corporate tax revenue when awarding contracts to foreign entities; and (7) the impact of U.S. regulatory burdens. Directs the Secretary of Defense and the contract source selection authority to require any prospective defense contractor or subcontractor not already covered by the Foreign Corrupt Practices Act to comply with such Act's requirements as a contract award condition. Allows a waiver of such requirement for national security purposes.

Private First Class Billy MacLeod Respectful Return Act

United States · United States Congress · 26 June 2008

Private First Class Billy MacLeod Respectful Return Act - Amends the John Warner National Defense Authorization Act for Fiscal Year 2007 to provide that requirements for the military transportation to the United States of the remains of a member of the Armed Forces who dies in a combat theater of operations shall also apply to the remains of any member found after the date of enactment of this Act in any theater of U.S. combat operations since April 6, 1917, who died while participating in such operations.

To amend the Internal Revenue Code of 1986 to exclude from gross income compensation received by employees consisting of qualified distributions of employer stock.

United States · United States Congress · 26 June 2008

Amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of stock received from an employer in a qualified employee stock distribution not exceeding the lowest number of shares received by any employee in such distribution; and (2) any gain on such stock if held by such employee for not less than 10 years.

To amend the Internal Revenue Code of 1986 to extend the credit for electricity produced from certain renewable resources.

United States · United States Congress · 26 June 2008

Amends the Internal Revenue Code to extend through 2018 the tax credit for producing electricity from wind facilities.

Apollo Energy Independence Act of 2008

United States · United States Congress · 26 June 2008

Apollo Energy Independence Act of 2008 - Amends the Internal Revenue Code to provide tax incentives for energy conservation and production, including provisions to: (1) make permanent the tax credit for producing electricity from renewable resources and to include marine and hydrokinetic renewable energy as a resource for purposes of such credit; (2) make permanent the energy tax credit for solar energy, fuel cell, and microturbine property; (3) allow a new energy tax credit for combined heat and power system property; (4) provide for the issuance of new clean renewable energy bonds; (5) increase the tax credit for advanced nuclear power production; (6) make permanent the tax credits for residential energy efficient property, energy efficiency existing homes, the production of energy efficient household appliances, and the tax deduction for energy efficient commercial buildings; (7) allow tax credits for new alternative motor vehicles, including qualified plug-in electric drive motor vehicles, vehicles that achieve a fuel economy standard of 100 miles per gallon, and advanced technology motor vehicles; (8) allow tax credits for the production of cellulosic biofuel and for hydrogen infrastructure costs; (9) increase and make permanent the tax credit for alternative fuel vehicle refueling property expenditures; and (10) allow employers a tax credit for providing transit passes to employees. Amends the Energy Policy Act of 2005 to provide full loan guarantees for the construction of advanced nuclear energy facilities. Establishes in the Treasury the Petroleum Reduction Trust Fund. Allocates 90% of civil penalties for automobile fuel economy violations to such Fund for retail purchases of ethanol, biodiesel, and other alternative fuels. Directs the Secretary of Energy to: (1) carry out research programs for onboard storage of hydrogen in light-duty motor vehicles and for the development of plug-in electric drive vehicle technology; and (2) study daily and seasonal energy costs in public schools. Amends the Harmonized Tariff Schedule of the United States to extend the tariff duty on ethanol until December 31, 2010. Directs the Administrator of the Environmental Protection Agency (EPA) to establish a grant program for green school construction and improvement. Sets forth revenue offset provisions, including: (1) a moratorium on earmarks in the 110th Congress; (2) establishment of fees for oil and gas leases in the Gulf of Mexico and user fees for certain food safety and inspection services; (3) a reduction in payments under the Department of Agriculture commodity program; (4) consolidation of Department of Defense exchange stores system; and (5) a limitation of universal service fund support.

Pension Protection Technical Corrections Act of 2008

United States · United States Congress · 26 June 2008

Pension Protection Technical Corrections Act of 2008 - Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including: (1) the target normal cost of benefits; (2) specified implementation and effective dates for certain requirements; (3) one-participant retirement plans; (4) special age-related rules in accrued benefit requirements for applicable defined benefit plans; (5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and (6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes. Makes technical corrections to the Railroad Retirement Act of 1974 with respect to railroad retirement payments to persons not entitled to an annuity. Makes technical corrections to the Age Discrimination in Employment Act of 1967 with respect to special age-related rules for determination of the market rate of return in the calculation of interest credits in governmental defined benefit plans. Makes technical corrections to the Internal Revenue Code to modify: (1) the interest rate assumption required with respect to certain small employer plans; and (2) the penalties for failure to file partnership returns and S corporation returns. Prescribes a special rule for exclusion from gross income of certain reimbursements from governmental plans for medical care. Requires treatment as a qualified rollover contribution of any airline payment amount received by a qualified airline employee in an airline carrier bankruptcy which is transferred to a Roth IRA.

Strengthening Transparency and Accountability in Federal Spending Act of 2008

United States · United States Congress · 26 June 2008

Strengthening Transparency and Accountability in Federal Spending Act of 2008 - Amends the Federal Funding Accountability and Transparency Act of 2006 with respect to the Office of Management and Budget (OMB) searchable database website. Requires the website to allow the public to search programmatically and access all data in a serialized machine readable format (such as XML) via a web-services application programming interface. Specifies additional information on federal awards the website must include by certain deadlines. Requires the website to present information about federal awards and their recipients in ways that meet the needs of users with different levels of understanding about government spending and abilities using searching websites. Sets forth requirements of the Director of OMB to add specified data quality enhancements to the website. Requires the Director to ensure that the unique identifier used to link information on the website is also used to link information about performance of individual contractors and recipients of financial assistance starting with awards given in FY2008. Requires the chief executive officer of an award recipient to certify whether the entity has: (1) filed all federal tax returns required during the preceding five years; (2) been convicted of a criminal offense under the Internal Revenue Code; and (3) an outstanding debt under the Code for which a notice of lien has been publicly filed that is not being paid in a timely manner, or for which a collection due process hearing or relief is requested or pending. Requires the Director to: (1) develop certification forms; (2) ensure that each agency providing federal awards complies with tax compliance requirements; and (3) ensure that the website contains such certified information.

Stop Legislative Automatic Spending Hikes (SLASH) Act of 2008

United States · United States Congress · 26 June 2008

Stop Legislative Automatic Spending Hikes (SLASH) Act of 2008 - Requires: (1) the Director of the Office of Management and Budget (OMB) to report to Congress on all agencies and programs that received ineffective ratings or three consecutive annual adequate ratings under the Government Performance and Results Act of 1993; (2) the termination of such agencies and programs unless continued by statute; (3) the transfer of the functions of such terminated agencies and programs to other appropriate agencies; and (4) an annual OMB estimate of the savings under this Act. Amends the Internal Revenue Code to grant tax rebates to individual taxpayers from the amounts saved by the termination of ineffective agencies and programs under this Act.

Comprehensive Energy Exploration, Price Reduction, and Renewable Energy Investment Act of 2008

United States · United States Congress · 26 June 2008

Comprehensive Energy Exploration, Price Reduction, and Renewable Energy Investment Act of 2008 - Amends the Outer Continental Shelf Lands Act to permit projected lines of states adjacent to the subsoil and seabed of the outer Continental Shelf to be used for oil and gas preleasing and leasing activities. Authorizes the governor of a state with a new producing area within the offshore administrative boundaries beyond the submerged land of the state to petition the Secretary of Energy to make new producing areas available for oil and gas leasing. Sets forth a lease sales program for oil and gas development within the Coastal Plain of the Arctic National Wildlife Refuge. Prescribes environmental protection procedures for the Coastal Plain. Requires Alaska to establish in is state treasury the "Coastal Plain Local Government Impact Aid Assistance Fund," to assist designated Alaska entities impacted by the oil and gas exploration and production. Prohibits exportation of oil or gas produced under this Act. Prescribes a refinery permitting process. Suspends petroleum acquisition for the Strategic Petroleum Reserve (SPR). Establishes in the Treasury the Renewable Energy Transition Trust Fund. Amends the Clean Air Act to include renewable biomass within its purview. Sets forth an advanced battery manufacturing incentive program. Instructs the Assistant Administrator of the Office of Research and Development of the Environmental Protection Agency to implement a research and development program for adding materials to biofuels to make them more compatible with infrastructure used to store and deliver petroleum-based fuels. Instructs the Secretary of Energy to study and report to Congress on: (1) the feasibility of increasing consumption in the United States of ethanol-blended gasoline with specified levels of ethanol; and (2) specified diesel vehicle attributes. Clean Coal-Derived Fuels for Energy Security Act of 2008 - Directs the President to promulgate regulations to ensure that covered fuel introduced into commerce in the United States on an annual average basis contains a specified volume and percentage of clean coal-derived fuel. Amends the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008 to repeal the prohibition against final regulations for commercial oil shale leasing program on public land. Amends the Energy Independence and Security Act of 2007 to repeal the prohibition against federal agency contracts for procurement of alternative or synthetic fuel. Authorizes the Department of Defense to enter into multiyear contracts to purchase synthetic fuels. Prohibits sales of defense articles and services to the Kingdom of Saudi Arabia unless the Kingdom increases its oil production to at least 10 million barrels per day, and maintains that level. Amends the Internal Revenue Code to extend and modify certain renewable energy production tax credits. Directs the President to establish an Apollo 21 Energy Independence Program. Instructs the Federal Trade Commission, the Board of Governors of the Federal Reserve System, and the Energy Information Agency to study and report jointly to Congress on the effects of speculation in the futures markets (including foreign futures markets) for natural gas, crude oil, and gasoline on cash market and retail prices for the commodities. Requires the Commodity Futures Trading Commission (CFTC) to issue a notice of proposed rulemaking regarding comparability of foreign regulation of futures and derivatives trading.

To prevent Members of Congress from receiving the automatic pay adjustment scheduled to take effect in 2009.

United States · United States Congress · 26 June 2008

Provides that no automatic pay adjustment shall be considered to have taken effect in FY2009 in the rates of basic pay for Members of Congress under the statutory pay system (thus eliminating the pay adjustment for Members for such fiscal year). Expresses the sense of Congress that any savings resulting from the enactment of this Act should be dedicated to reducing the federal budget deficit.

Segal AmeriCorps Education Award Tax Relief Act of 2008

United States · United States Congress · 26 June 2008

Segal AmeriCorps Education Award Tax Relief Act of 2008 - Amends the Internal Revenue Code to exclude from gross income for income tax purposes AmeriCorps educational awards awarded under the National and Community Service Act of 1990.

Small Business Health Care Relief Act of 2008

United States · United States Congress · 26 June 2008

Small Business Health Care Relief Act of 2008 - Amends the Internal Revenue Code to allow certain small business owners with 50 or fewer employees a refundable tax credit for the payment of a portion of the health care expenses of their employees.

Caregiver Financial Relief Act of 2008

United States · United States Congress · 26 June 2008

Caregiver Financial Relief Act of 2008 - Amends the Internal Revenue Code to: (1) allow caregivers of family members with long-term care needs a refundable tax credit of $3,000 for up to two such family members each year through 2010; (2) allow in 2009 and 2010 the tax credit for dependent care expenses for parents (or ancestors of such parents) who do not reside with the taxpayer; and (3) allow in 2009 and 2010 an increased exclusion from gross income for employer-provided dependent care assistance.

A bill to amend the Internal Revenue Code of 1986 to exempt certain shipping from the harbor maintenance tax.

United States · United States Congress · 25 June 2008

Amends the Internal Revenue Code to exempt from the harbor maintenance tax commercial cargo (other than bulk cargo) loaded at: (1) a port in the U.S. mainland and unloaded at another such port after transport solely by coastal route or river or unloaded at a port in Canada located in the Great Lakes Saint Lawrence Seaway System; or (2) such a port in Canada and unloaded at a port in the U.S. mainland. Defines the "Great Lakes Saint Lawrence Seaway System" as the waterway between Duluth, Minnesota, and Sept Iles, Quebec, Canada, encompassing the five Great Lakes, their connecting channels, and the Saint Lawrence River.

Earned Income Credit Information Act of 2008

United States · United States Congress · 25 June 2008

Earned Income Credit Information Act of 2008 - Amends the Internal Revenue Code to require certain employers (with more than 25 employees) to provide their employees with a notice explaining the earned income tax credit and eligibility rules for such credit.

A resolution designating October 19 through October 25, 2008, as "National Save for Retirement Week".

United States · United States Congress · 25 June 2008

Designates October 19-25, 2008, as National Save for Retirement Week. Supports the need to raise public awareness of efficiently utilizing substantial tax revenues that currently subsidize retirement savings (revenues in excess of $170 billion for the FY2007 Budget). Supports the need to raise public awareness of the importance to save adequately for retirement and the availability of tax-preferred employer-sponsored retirement savings vehicles.

To amend the Internal Revenue Code of 1986 to provide for an increase in the standard mileage rates to reflect the increase in the cost of highway fuels, and for other purposes.

United States · United States Congress · 25 June 2008

Amends the Internal Revenue Code to make the standard mileage rate used to determine the tax deduction for the use of a passenger automobile for charitable purposes equal to the standard mileage rate used for the tax deduction for business and moving expenses. Increases such rate until December 31, 2008.

Responsible Investment for Home Ownership Act of 2008

United States · United States Congress · 25 June 2008

Responsible Investment for Home Ownership Act of 2008 - Amends the Internal Revenue Code to: (1) establish tax-exempt Home Ownership Mortgage Expense Accounts; (2) allow a tax deduction for contributions to such accounts; (3) allow tax-free distributions from such accounts for the financing or remodeling of a principal residence; and (4) set forth rules for such accounts relating to prohibited transactions, rollover contributions, and account termination. Prohibits illegal aliens making tax deductible contributions to such accounts.

American Shipping Reinvestment Act of 2008

United States · United States Congress · 25 June 2008

American Shipping Reinvestment Act of 2008 - Amends the Internal Revenue Code to: (1) repeal shipping investment withdrawal tax rules; and (2) allow U.S. corporate shareholders a tax deduction for dividends attributable to foreign base company shipping income received from a controlled foreign corporation.

Earned Income Credit Information Act of 2008

United States · United States Congress · 25 June 2008

Earned Income Credit Information Act of 2008 - Amends the Internal Revenue Code to require certain employers (with more than 25 employees) to provide their employees with a notice explaining the earned income tax credit and eligibility rules for such credit.

THE SAFE COMMISSION ACT (H.R. 3654) AND THE LONG-TERM FISCAL CHALLENGE

United States · United States House of Representatives · 24 June 2008