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Bill· SS. 2794 (96th)referred
United States · United States Congress · 6 June 1980
Amends the Internal Revenue Code to allow a builder of a new residential unit which incorporates a passive solar energy system a credit against the income tax in an amount (not to exceed $3,000 per residential unit) determined under a solar construction credit table. Directs the Secretary of the Treasury after consultation with the solar construction credit table for eight categories of residential units, energy savings per residential unit. Limits such tax credit to residential units constructed between September 30, 1980, and January 1, 1986. Specifies the general contents of a passive solar energy system.
Bill· HRH.R. 7509 (96th)referred
United States · United States Congress · 5 June 1980
Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for the cost of crime prevention devices installed in the principal residence of such taxpayers. Limits the amount of such credit to $300. Allows an income tax deduction for such crime prevention devices in lieu of the credit. Limits the amount of the deduction to $600. Terminates the credit and the deduction five years after the date of enactment of this Act.
Bill· HRH.R. 7505 (96th)referred
United States · United States Congress · 5 June 1980
Industrial Energy Conservation Incentive Tax Act of 1980 - Amends the Internal Revenue Code to increase the investment tax credit energy percentage from ten to 20 percent for alternative energy property and for specially defined energy property. Makes such credit refundable. Provides for a refundable 20 percent investment tax credit for qualified conservation property. Defines "qualified conservation property" as property which is used by a taxpayer as an energy-saving modification to an existing industrial facility.
Bill· HRH.R. 7520 (96th)referred
United States · United States Congress · 5 June 1980
Amends the Internal Revenue Code to provide that any income received or accrued by a tax-exempt mutual or cooperative electric or telephone company from qualified pole rentals, or by a cooperative telephone company from the sale of display listings in a directory furnished to company members, shall not be treated as unrelated business income subject to tax. Defines qualified pole rental as any rental of a pole (or other structure used to support wires) if: (1) such pole or structure is used by the telephone or electric company in providing telephone or electric services to its members; and (2) the use of such pole or structure pursuant to the rental is in connection with the transmission by wire of electricity or of telephone or other communications.
Bill· HRH.R. 7504 (96th)referred
United States · United States Congress · 5 June 1980
Theatrical Production Investment Tax Credit Act of 1980 - Amends the Internal Revenue Code to allow an investment tax credit for costs related to a theatrical production. Includes within the term "theatrical production" plays, musicals, operas, or ballets, in a commercial theater before a live audience. Specifies that a taxpayer may claim a tax credit for such a production only to the extent that he has an ownership interest in it.
Bill· HRH.R. 7507 (96th)referred
United States · United States Congress · 5 June 1980
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to prohibit the taxation of any title II benefits.
Bill· HRH.R. 7522 (96th)referred
United States · United States Congress · 5 June 1980
Energy Savings Tax Credit Act of 1980 - Amends the Internal Revenue Code to allow individual taxpayers a refundable income tax credit for 50 percent of the residential energy costs saved by such taxpayers during a taxable year in comparison with residential energy costs incurred during 1979. Terminates the authority for such tax credit for taxable years beginning after December 31, 1985.
Bill· SS. 2784 (96th)referred
United States · United States Congress · 4 June 1980
Amends the Crude Oil Windfall Profit Tax Act of 1980 to move up the effective date of its provisions making coke ovens eligible for the energy investment tax credit from December 31, 1979, to September 30, 1978.
Bill· SS. 2783 (96th)referred
United States · United States Congress · 4 June 1980
Amends the Internal Revenue Code to allow the eligibility of shale oil property used for hydrogenation (or for a similar process subsequent to retorting) for the ten percent energy investment tax credit.
Bill· SS. 2790 (96th)referred
United States · United States Congress · 4 June 1980
Limits the amount which may be obligated by a Federal agency for contracts during the last three months of a fiscal year to ten percent of the total amount obligated by that agency in such fiscal year. Authorizes the Director of the Office of Management and Budget to waive such limitation with respect to a specific contract upon application by any agency. Requires the Director to report on any such waiver to Congress and the Comptroller General of the United States.
Bill· HRH.R. 7485 (96th)referred
United States · United States Congress · 4 June 1980
Provides for payments in lieu of taxes to be made by the United States to local governments for property which is exempt from real property taxation under Federal law and which is located within the jurisdiction of the local government and owned by a foreign government or international organization. Requires the Administrator of General Services to report to Congress on the revenue effects of the program of payments authorized by this Act.
Bill· HRH.R. 7487 (96th)referred
United States · United States Congress · 4 June 1980
Amends the Internal Revenue Code to impose on the sale by the manufacturer, producer, or importer of each light gauge steel drum a tax equal to 20 percent of the price for which each drum is sold.
Bill· HRH.R. 7483 (96th)referred
United States · United States Congress · 4 June 1980
Amends the Internal Revenue Code to allow commercial fishermen a refundable income tax credit equal to 50 percent of their fuel expenses for fishing vessels.
Resolution· HRESH.Res. 696 (96th)passed
United States · United States Congress · 4 June 1980
Sets forth the rule for the consideration of H.R. 7301 (military construction, fiscal year 1981).
Bill· SS. 2781 (96th)referred
United States · United States Congress · 3 June 1980
Farm Tax Equity Act of 1980 - Amends the Internal Revenue Code to limit the deductions attributable to the trade or business of farming to a maximum amount consisting of the sum of the taxpayer's gross income plus $17,500 reduced by the amount by which the nonfarm adjusted gross income of such taxpayer exceeds $17,500. Provides for an annual inflation adjustment of such amount. States that such limitation shall not apply if the taxpayer's nonfarm adjusted gross income does not exceed $17,500 or if the taxpayer elects to compute his or her taxable income on the accrual method of accounting. Requires the accrual method of accounting for any person engaged in the trade or business of farming whose gross income from farming exceeds $100,000, or an amount adjusted for inflation. Provides for a capital gains tax applicable to transfers of rural land by foreign investors. Requires specified reporting procedures relating to such tax.
Bill· SS. 2779 (96th)referred
United States · United States Congress · 3 June 1980
Amends the Internal Revenue Code to increase the earned income exclusion for United States citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to: (1) $50,000; or (2) $65,000, if such persons have been working abroad for three years. Allows separate exclusions to married individuals who are both working overseas, although one's excess exclusion cannot be used against income earned by the other. Reduces from 17 to 11 months the residency requirement for such exclusion. Waives such requirement if the Secretary of the Treasury determines that such citizens who would otherwise qualify for the exclusion were forced to leave a foreign country before they had resided 11 consecutive months because of civil unrest, war, or other adverse conditions precluding the normal conduct of business. Reduces from 17 to 11 months the foreign residence requirement with respect to the deduction for certain housing expenses of living abroad. Revises the formula for determining the base housing amount with regard to such deduction to make it 16 percent of the salary of a GS-14, step 1. Repeals similar deductions for cost-of-living differential, schooling expenses, home leave travel expenses, and residence in a hardship area. Provides that the foreign bad debt loss deduction shall not exceed the greater of 15 percent of the taxpayer's taxable income from exports, or two percent of the taxpayer's export receivables outstanding at the close of the taxable year. Provides that the amount of bad debt losses that may be added to a bad debt reserve shall not exceed five percent of the taxpayer's export receivables outstanding as of the close of the taxable year. Permits the amortization, based on a period of 60 months, of: (1) foreign market studies; (2) foreign marketing expenses; and (3) foreign patents. Permits an income tax deduction for currency fluctuation losses on export credit which have not been repaid by the end of the taxable year. Amends the Internal Revenue Code, with respect to the six-month deadline for exempting exports from the manufacturer's excise tax, to grant discretion to the Secretary of the Treasury to extend such deadline for an additional 11 months if it is determined, after consultation with the Secretary of State, that exports were delayed because of war, civil unrest, or similar adverse conditions in a foreign nation. Amends the Foreign Trade Zones Act to authorize the Secretary of the Treasury to approve the duty-free entry of machinery, materials, and fuel to be used or consumed solely in the manufacture or production of goods in a foreign trade zone only if such goods are not subsequently entered into the customs territory of the United States. Specifies criteria for approval of applications for such duty-exemptions. Requires the Foreign Trade Zones Board to include in its annual report to Congress a summary of its activities and programs in each zone which are intended to increase the use of such zones to expand United States exports.
Law· HRH.R. 7477 (96th)open
United States · United States Congress · 3 June 1980
Amends the Internal Revenue Code to extend the authority to impose: (1) the tax on noncommercial aviation fuel and the tax on civil aircraft use from July 1, 1980, to October 1, 1980; and (2) the taxes on air transportation of persons and property from June 30, 1980, to September 30, 1980. Reduces the civil aircraft use tax rate for the transitional period of July 1, 1980 through October 1, 1980: (1) from $25 to $6.25 plus; (2) one-half cent per pound (currently two cents per pound) of the maximum certificated takeoff weight in excess of 2,500 pounds in the case of an aircraft which is not turbine-engine-powered; or (3) seven-eighths cent per pound (currently, three-and-one-half cents per pound) for each pound of the maximum certificated takeoff weight in the case of a turbine-engine-powered aircraft. Amends the Airport and Airway Revenue Act of 1970 to extend the Airport and Airway Trust Fund from July 1, 1980, to October 1, 1980.
Bill· HRH.R. 7481 (96th)referred
United States · United States Congress · 3 June 1980
Amends the Internal Revenue Code to exempt a certain portion of royalty owner oil production from the windfall profit tax. Limits the amount so exempted per quarter to ten barrels per day. Requires proportionate allocation of any production in excess of ten barrels per day between tier 1 oil, tier 2, and tier 3 oil, and within any tier on the basis of removal prices. Requires allocation of the ten barrel amount among royalty owners who are members of the same related group.
Bill· HRH.R. 7472 (96th)referred
United States · United States Congress · 30 May 1980
Amends the Internal Revenue Code to provide that meals furnished by employers to employees which are excluded from such employees' income shall not be subject to taxes under the Federal Insurance Contributions Act or the Federal Unemployment Tax Act.
Resolution· HCONRESH.Con.Res. 350 (96th)referred
United States · United States Congress · 30 May 1980
Declares that it is the sense of the Congress that the enactment of a withholding tax on interest and dividend payments would be detrimental to the economic well-being of the United States.
Bill· SS. 2772 (96th)referred
United States · United States Congress · 29 May 1980
Amends the Internal Revenue Code to provide that bonds issued by a volunteer fire department to finance the acquisition, construction, reconstruction, or improvement of firefighting property shall be treated as the obligation of a political subdivision of a State (interest on such bond is tax-exempt). Provides that a volunteer fire department qualifies for preferential tax treatment of its bonds if it: (1) is organized and operated to provide firefighting services in an area which does not have any other firefighting services; (2) is required by a local government to furnish firefighting services; (3) receives over half of its funding from local government; and (4) makes no charge for its services.
Bill· HRH.R. 7461 (96th)referred
United States · United States Congress · 29 May 1980
Allows an individual under the Internal Revenue Code an income tax deduction equal to 50 percent of the travel deposit loss sustained by such taxpayer as a result of the boycott of the 1980 Summer Olympics. Limits the amount of such deduction to $2,500.
Bill· HRH.R. 7467 (96th)referred
United States · United States Congress · 29 May 1980
Repeals the estate tax, the gift tax, and the tax on generation-skipping transfers under the Internal Revenue Code.
Bill· HRH.R. 7462 (96th)referred
United States · United States Congress · 29 May 1980
Amends the Internal Revenue Code to permit the use of tax-exempt industrial development bonds, issued as the obligation of a State, to finance railroad facilities.
Resolution· HRESH.Res. 686 (96th)open
United States · United States Congress · 29 May 1980
Sets forth the rule for the consideration of H.R. 7152 (authorizes appropriations for intelligence and related activities, fiscal year 1981).
Resolution· HRESH.Res. 684 (96th)open
United States · United States Congress · 29 May 1980
Sets forth the rule for the consideration of H.R. 7113 (Funds for the National Bureau of Standards, fiscal year 1981).
Resolution· HRESH.Res. 685 (96th)passed
United States · United States Congress · 29 May 1980
Sets forth the rule for the consideration of H.R. 7115 (authorizes appropriations for the National Science Foundation, fiscal year 1981).
Resolution· HRESH.Res. 687 (96th)passed
United States · United States Congress · 29 May 1980
Sets forth the rule for the consideration of H. R. 7265 (authorizes appropriations for the Department of Energy for national security programs, fiscal year 1981).
Resolution· HRESH.Res. 688 (96th)passed
United States · United States Congress · 29 May 1980
Sets forth the rule for the consideration of H.J. Res. 554 (Federal Trade Commission appropriations, fiscal year 1980).
Resolution· HRESH.Res. 683 (96th)reported
United States · United States Congress · 29 May 1980
Sets forth the rule for the consideration of H.R. 7098 (authorizes appropriations for atmospheric and climate activities of the National Oceanic and Atmospheric Administration, fiscal year 1981).
Bill· SS. 2768 (96th)referred
United States · United States Congress · 28 May 1980
Amends the Internal Revenue Code to treat as a qualified governmental interest exempt from the crude oil windfall profit tax the right of any State to receive royalty payments under the Mineral Lands Leasing Act of 1920. Allows the deduction from the windfall profit tax of: (1) severance taxes imposed by an Indian tribe; and (2) State ad valorem taxes based on the price at which crude oil is sold.
Bill· SS. 2766 (96th)referred
United States · United States Congress · 28 May 1980
Hydropower Development Act of 1980 - Amends the Internal Revenue Code to extend the tax exclusion for interest on industrial development bonds financing publicly-owned hydroelectric generating facilities to interest on bonds which finance any such facility, whether or not publicly-owned.
Bill· HRH.R. 7452 (96th)referred
United States · United States Congress · 28 May 1980
Amends the Internal Revenue Code to allow a refundable, income tax credit for household expenses to any taxpayer who maintains a household in which a dependent aged 65 or over resides. Limits such credit to $250 for each aged dependent for the taxable year.
Bill· HRH.R. 7451 (96th)referred
United States · United States Congress · 28 May 1980
Amends the Internal Revenue Code to provide an additional $750 personal tax exemption for a taxpayer, his spouse, or a dependent who is handicapped. Defines "handicapped" as a physical or mental impairment of a permanent nature which constitutes a substantial handicap to employment or education.
Law· HJRESH.J.Res. 554 (96th)open
United States · United States Congress · 28 May 1980
Appropriates $49,700,000 for fiscal year 1980 for salaries and expenses of the Federal Trade Commission.
Bill· SS. 2757 (96th)referred
United States · United States Congress · 22 May 1980
Amends the Internal Revenue Code of 1954 to make banking organizations which have invested in an export trading company eligible for treatment as domestic international sales corporations (DISC). Includes the gross receipts from the export of services produced in the United States and from export trade services as qualified export receipts, in the case of a DISC which is an export trading company. Directs the Secretary of Commerce, with the Secretary of the Treasury, to develop and distribute information concerning the utilization of the DISC provisions. Amends the Internal Revenue Code of 1954 to make export trading companies eligible for Subchapter S treatment if the shareholders of such companies are otherwise small business corporations. Exempts such companies from restrictions on the amount of foreign income they can receive and still be eligible for Subchapter S tax treatment.
Bill· SS. 2751 (96th)referred
United States · United States Congress · 22 May 1980
Amends the Internal Revenue Code, with respect to the special rollover rules governing taxability of beneficiaries of employee pension trusts, to exclude from gross income for a particular taxable year distributions from a pension plan which are rolled over into an eligible retirement plan after the close of such taxable year but before the date prescribed by law for the filing of an income tax return (ordinarily, April 15). Limits such exclusion to distributions made under a plan on account of its termination or the complete discontinuance of contributions.
Bill· HRH.R. 7429 (96th)referred
United States · United States Congress · 22 May 1980
Build America Act of 1980 - Amends the Internal Revenue Code to allow taxpayers engaged in a manufacturing business a nonrefundable income tax credit for a specified percentage of payroll costs paid by such taxpayers during the initial three year period of an employee's employment. Places dollar limitations on the amount of such credit for each of the three years. Defines "payroll costs" as direct labor costs paid or incurred by the taxpayer for the services of an employee in the United States at a manufacturing facility placed in use after March 1, 1980. Identifies as direct labor costs basic compensation, overtime, vacation and sick pay, and certain fringe benefits.
Bill· HRH.R. 7439 (96th)referred
United States · United States Congress · 22 May 1980
Amends the Internal Revenue Code to exempt from application of the crude oil windfall profit tax an economic interest in crude oil acquired after January 21, 1980, by an otherwise tax-exempt institution of higher learning.
Bill· HRH.R. 7421 (96th)referred
United States · United States Congress · 21 May 1980
Allows employees of the Canal Zone Government or the Panama Canal Company an income tax exclusion for amounts paid to the U.S. Government for rent of a residence in the Canal Zone (or for residential utilities) to the extent that such amounts are attributable to periods before October 1, 1979, during which such individuals were employed by the Canal Zone Government or the Panama Canal Company and were required to reside in the Canal Zone as a condition of employment. Permits a waiver of the statute of limitation barring any refund of amounts paid, if a claim for a refund is filed within one year of the enactment of this Act.
Bill· HRH.R. 7409 (96th)referred
United States · United States Congress · 21 May 1980
Amends the Internal Revenue Code to exclude from the gross income of individual taxpayers up to $1,000 ($1,800 in the case of a joint return) of interest income earned on deposits in certain financial institutions.
Bill· HRH.R. 7424 (96th)referred
United States · United States Congress · 21 May 1980
Amends the Internal Revenue Code to allow taxpayers an income tax credit for the purchase price of a new highway vehicle purchased between May 31, 1980 and June 1, 1981, which is a 1979 model year or later and which is manufactured in the United States. Limits the amount of such credit to $500. Allows a $750 tax credit for the purchase of a highway vehicle which has a fuel economy which is 20 percent greater than the average fuel economy standard. Specifies that the income tax credit is available only for the purchase of one highway vehicle.
Resolution· HCONRESH.Con.Res. 344 (96th)referred
United States · United States Congress · 21 May 1980
Expresses the opposition of Congress to the imposition of any withholding tax on interest-bearing bank accounts and on dividend income.
Bill· SS. 2745 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to allow a deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits the duration of eligibility for such deduction to calendar years prior to the account beneficiary's 21st birthday, or prior to the beneficiary's enrollment as a full-time student at an eligible educational institution of higher learning, whichever occurs earlier. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing the first dwelling purchased by such individual as a principal residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first principal dwelling. Provides for recapture of such distribution upon a subsequent sale of such first dwelling if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
Bill· SS. 2740 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to exclude from gross income interest on an industrial development bond refunding issue if: (1) such issue is secured by a pledge of substantial revenues derived from 20 or more facilities operated or leased by the issuer; (2) the issuer is a political subdivision engaged primarily in promoting economic development; (3) the issuer was created under State law at least 20 years prior to the issuance of such refunding bonds for the express purpose of promoting economic development; and (4) any debt service savings derived from the refunding may be used only for the proper corporate purposes of the issuer and shall not be used to reduce any existing obligations of any nonexempt person.
Bill· SS. 2746 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to exclude from gross income interest on certain mortgage revenue bonds issued by a State or political subdivision thereof, but only if: (1) all proceeds of such issue (exclusive of issuance costs and a reasonably required reserve) are to be used to finance owner-occupied residences; (2) the maximum annual income of eligible individuals does not exceed 150 percent of the median family income for the defined statistical area in which the residence is located; (3) the aggregate amount of bonds issued on a certain date, when added to the aggregate amount of such bonds issued within 36 months prior to such date, does not exceed 25 percent of the total amount of all first mortgage loans on owner-occupied residential real property within the State or political subdivision during such 36-month period; and (4) any such obligation is issued within 24 months after the date of enactment of this Act. Applies such tax exclusion to interest on all mortgage revenue bonds issued by a State housing finance agency. Directs the Secretaries of the Treasury and of Housing and Urban Development to make a joint study of the impact of such treatment of mortgage revenue bonds on the national economy, the rate of inflation, the housing industry, employment, and the market for tax- exempt securities. Requires a report to Congress on the results of such study within 12 months after the date of enactment of this Act.
Bill· HRH.R. 7403 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to provide for a one-time exclusion from the gross income of an employee of up to $12,000 of vacation and sick leave pay accrued by such employee in connection with retirement.
Bill· HRH.R. 7392 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to exempt amounts paid as entertainment expenses which are includible in the gross income of the recipient, who is not an employee of the taxpayer, from the requirement that such expenses be shown to be directly related to the active conduct of the taxpayer's trade or business in order to qualify for tax deductibility.
Bill· HRH.R. 7388 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Internal Revenue Code to lower from 80 to 50 percent the gross income definitional requirement of a cooperative housing corporation, for purposes of the tenant-stockholder income tax deduction for taxes, interest, and business depreciation.
Bill· HRH.R. 7395 (96th)referred
United States · United States Congress · 20 May 1980
Amends the Maritime Appropriation Authorization Act for Fiscal Year 1980 to increase the authorization of appropriations, from $256,208,000 to $300,515,000, for fiscal year 1980 for use by the Department of Commerce for payments of obligations incurred for the ship operating-differential subsidy.