Taxation

Bill· HRH.R. 15344 (93rd)referred

Fuel Adjustment Relief Act

United States · United States Congress · 12 June 1974

Fuel Adjustment Relief Act - States that there shall be allowed as a tax credit against income tax an amount equal to 50 percent of the increased residential electricity expenses paid or incurred by the taxpayer during the taxable year. Prescribes a method for computing for the taxable year the increased residential electricity expenses. States that the credit authorized by this Act shall apply to calendar years 1974 through 1978.

Bill· HRH.R. 15343 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to allow for a temporary period a deduction equal to the increase in residential electricity expenses occurring after January 1, 1973.

United States · United States Congress · 12 June 1974

Allows a tax deduction under the Internal Revenue Code equal to the increase in residential electricity expenses occurring after January 1, 1973. Terminates the tax deduction provided under this Act after December 31, 1978.

Bill· HRH.R. 15336 (93rd)referred

Home and Family Vegetable Garden Tax Credit Act

United States · United States Congress · 12 June 1974

Home and Family Vegetable Gardens Tax Credit Act - Provides, under the Internal Revenue Code, a tax credit to individuals for the purchase of home garden tools, equal to 7 percent of the expense of such tools, but not to exceed $100.

Bill· HRH.R. 15313 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for condominium housing associations and certain homeowners' associations and to tax the unrelated business income of such organizations.

United States · United States Congress · 11 June 1974

Provides, under the Internal Revenue Code, an exemption from income taxation for condominium housing associations and homeowners' associations and imposes a tax on the unrelated business income of such organizations.

Bill· HRH.R. 15309 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the amount of certain cancellations of indebtedness under student loan programs.

United States · United States Congress · 11 June 1974

Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.

Bill· HRH.R. 15308 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the amount of certain cancellations of indebtedness under student loan programs.

United States · United States Congress · 11 June 1974

Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.

Bill· HRH.R. 15307 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the amount of certain cancellations of indebtedness under student loan programs.

United States · United States Congress · 11 June 1974

Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.

Bill· HRH.R. 15281 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to provide individuals a deduction for the amount of certain social security taxes.

United States · United States Congress · 6 June 1974

Allows, under the Internal Revenue Code, a tax deduction equal to the amount of social security taxes imposed on self-employed income or on employees under the Federal Insurance Contributions Act. Reduces such deduction by an amount equal to one twentieth of the excess of the adjusted gross income over the exemption amount.

Bill· HRH.R. 15246 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to increase the exemption for purposes of the Federal estate tax from $60,000 to $100,000.

United States · United States Congress · 6 June 1974

Increases the estate tax exemption from $60,000 to $100,000, under the Internal Revenue Code. Provides that where there is a gross estate of less than $100,000, a return with respect to such estate need not be filed by the executor.

Bill· HRH.R. 15265 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to increase the credit against tax for retirement income.

United States · United States Congress · 6 June 1974

Increases the credit against tax for retirement income for the elderly under the Internal Revenue Code and coordinates it with the maximum social security retirement benefits. Provides that this Act is to become effective for taxable years beginning after December 31, 1972. (Amends 26 U.S.C. 37)

Bill· HRH.R. 15214 (93rd)referred

A bill to amend section 214 of the Internal Revenue Code of 1954 to provide a deduction for dependent care expenses for married taxpayers who are employed part time, or who are students, and for other purposes.

United States · United States Congress · 5 June 1974

Provides under the Internal Revenue Code, a tax deduction for dependent care expenses for married taxpayers who are employed part time, or who are students. Sets limits on such deductions Prohibits a reduction in such deduction (for dependent and household care services necessary for gainful employment) by the amount of income or payments received by an incapacitated spouse or dependent. (Amends 26 U.S.C. 214).

Bill· HRH.R. 15209 (93rd)referred

A bill to prevent the estate tax law from operating to encourage or to require the destruction of open lands and historic places, by amending the Internal Revenue Code of 1954 to provide that real property which is farmland, woodland, or open land and forms part of an estate may be valued, for estate tax purposes, at its value as farmland, woodland, or open land (rather than at its fair market value), and to provide that real property which is listed on the National Register of Historic Places may be valued, for estate tax purposes, at its value for its existing use, and to provide for the revocation of such lower evaluation and recapture of unpaid taxes with interest in appropriate circumstances.

United States · United States Congress · 5 June 1974

Provides that, under the Internal Revenue Code of 1954, real property which is farmland, woodland, or open land and forms part of an estate may be valued, for estate tax purposes, at its value as farmland, woodland, or open land (rather than at its fair market value). Provides that real property which is listed on the National Register of Historic Places may be valued, for estate tax purposes, at its value for its existing use. Provides for the revocation of such lower valuation and recapture of unpaid tax with interest under specified circumstances.

Bill· HRH.R. 15220 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to provide individuals one additional income tax exemption for each dependent who is handicapped.

United States · United States Congress · 5 June 1974

Provides, under the Internal Revenue Code, individuals one additional income tax exemption of $150 for each dependent who is handicapped. Defines handicapped to include permanent mental and physical impairments constituting substantial handicaps to employment or education.

Bill· HRH.R. 15215 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to allow a deduction to tenants of houses or apartments for their proportionate share of the taxes and interest paid by their landlords.

United States · United States Congress · 5 June 1974

Allows, under the Internal Revenue Code, a tax deduction to tenants of houses or apartments for their proportionate share of the taxes and interest paid by their lessors. Requires lessors to furnish tenants with information showing the amount that may be deducted.

Bill· HRH.R. 15208 (93rd)referred

A bill to prevent the estate tax law from operating to encourage or to require the destruction of open lands and historic places, by amending the Internal Revenue Code of 1954 to provide that real property which is farmland, woodland, or open land and forms part of an estate may be valued, for estate tax purposes, at its value as farmland, woodland, or open land (rather than at its fair market value), and to provide that real property which is listed on the National Register of Historic Places may be valued, for estate tax purposes, at its value for its existing use, and to provide for the revocation of such lower evaluation and recapture of unpaid taxes with interest in appropriate circumstances.

United States · United States Congress · 5 June 1974

Provides that, under the Internal Revenue Code of 1954, real property which is farmland, woodland, or open land and forms part of an estate may be valued, for estate tax purposes, at its value as farmland, woodland, or open land (rather than at its fair market value). Provides that real property which is listed on the National Register of Historic Places may be valued, for estate tax purposes, at its value for its existing use. Provides for the revocation of such lower valuation and recapture of unpaid tax with interest under specified circumstances.

Bill· HRH.R. 15195 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 with respect to the tax treatment of capital gains and losses.

United States · United States Congress · 5 June 1974

Redefines, under the Internal Revenue Code, long and short-term capital gains and losses. States that, in the case of a taxpayer other than a corporation, the excess of the net long-term capital loss over the net short-term capital gain for a taxable year shall be allowed only to the extent of whichever of the following is the smaller: (1) the taxable income for the taxable year; or (2) $4,000. Provides that if a taxpayer other than a corporation has a net capital loss for any taxable year, and such loss is not otherwise carried back the amount by which the excess of the net short-term capital loss over the net long-term capital gain for such year exceeds taxable income computed without regard to such excess shall be a short-term capital loss in the succeeding taxable year, and the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year. States that if a taxpayer other than a corporation has a net capital loss for any taxable year at the election of the taxpayer such net capital loss shall be a capital loss carryback to each of the 3 taxable years preceding the loss year, but only to the extent the carryback of such loss does not increase or produce a net operating loss for that taxable year to which it is being carried back.

Bill· SS. 3571 (93rd)referred

Higher Education Expenses Tax Deferment Act

United States · United States Congress · 4 June 1974

Higher Education Expenses Tax Deferment Act - Allows a tax deferment under the Internal Revenue Code to an eligible individual of a portion of his income tax which is not in excess of the amount of the net qualified higher education expenses paid by him. Sets maximum and minimum amounts of such deferment. Defines eligible individual to include parents, students, or spouses. Defines qualified higher education expenses to include tuition, fees, books and living expenses. Sets repayment installments at 20 percent of income tax payment in each year plus interest. Provides for a refund of taxes paid that equal the amount of such deferment.

Bill· HRH.R. 15174 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for cooperative housing corporations and condominium housing associations.

United States · United States Congress · 4 June 1974

Provides an exclusion from income taxation under the Internal Revenue Code for cooperative housing corporations and condominium housing associations if membership in such organizations is limited to owners of units within such cooperative or condominium.

Bill· HRH.R. 15166 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for housing corporations, condominium housing associations, and certain homeowners' associations and to tax the unrelated business income of such organizations.

United States · United States Congress · 4 June 1974

Provides, under the Internal Revenue Code, an exemption from income taxation for cooperative housing corporations, condominium housing associations, and homeowners' associations, if membership in such organization is limited to owners or occupants therein. Imposes a tax on unrelated business income of such organizations.

Bill· HRH.R. 15161 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to increase the rate of the tax imposed on tax preferences from 10 percent to 14 percent, to reduce the amount of tax preferences exempt from such tax, and to treat interest on certain governmental obligations as an item of tax preference.

United States · United States Congress · 4 June 1974

Increases the rate of the tax imposed, under the Internal Revenue Code, on tax preferences from 10 percent to 14 percent. Reduces from $30,000 to $10,000 the amount of tax preference exempt from such tax. Provides that the interest on governmental obligations excluded from gross income under the Internal Revenue Code shall be treated as an item of tax perference.

Bill· HRH.R. 15164 (93rd)referred

A bill to amend section 214 of the Internal Revenue Code of 1954 to provide a deduction for dependent care expenses for married taxpayers who are employeed part time or who are students, and for other purposes.

United States · United States Congress · 4 June 1974

Provides under the Internal Revenue Code, a tax deduction for dependent care expenses for married taxpayers who are employed part time, or who are students. Sets limits on such deductions Prohibits a reduction in such deduction (for dependent and household care services necessary for gainful employment) by the amount of income or payments received by an incapacitated spouse or dependent. (Amends 26 U.S.C. 214).

Bill· HRH.R. 15160 (93rd)referred

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the amount of certain cancellations of indebtedness under student loan programs.

United States · United States Congress · 4 June 1974

Provides, under provisions of the Internal Revenue Code relating to scholarship and fellowship grants, that no amount shall be included in gross income by reason of the discharge of the indebtedness of an individual under a student loan if such discharge was pursuant to a provision of the loan under which the indebtedness would be discharged if the individual worked for a certain period of time in certain professions or certain geographical areas or for certain classes of employers. Defines "student loan" for purposes of this Act.

Bill· SS. 3555 (93rd)referred