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Bill· HRH.R. 3886 (116th)referred
United States · United States Congress · 23 July 2019
Fostering Innovation Act of 2019 This bill establishes a temporary exemption from the requirement that each registered public accounting firm that prepares or issues an audit report for an issuer of securities (other than an emerging growth company) shall attest to, and report on, the internal control assessment made by the management of the issuer. Specifically, this requirement shall not apply with respect to an audit report prepared for an issuer that ceased to be an emerging growth company on the last day of its fiscal year following the five-year period beginning on the date of its first sale of common equity securities, had average annual gross revenues of less than $50 million as of its most recently completed fiscal year, and is not a large accelerated filer. An issuer shall cease to be eligible for the exemption at the earliest of (1) the last day of the fiscal year following the 10-year period beginning on the date of its first sale of common equity securities, (2) the last day of the fiscal year in which its average annual gross revenues exceed $50 million, or (3) when the issuer becomes a large accelerated filer.
Bill· HRH.R. 3880 (116th)referred
United States · United States Congress · 23 July 2019
Tax Fairness for the Self-Employed Act of 2019 This bill allows the tax deduction for health insurance costs in determining net earnings from self-employment.
Bill· HRH.R. 3876 (116th)referred
United States · United States Congress · 23 July 2019
Black Lung Benefits Disability Trust Fund Solvency Act This bill extends until December 31, 2029, the excise tax on coal from U.S. mines. The tax is a source of funding for the Black Lung Disability Trust Fund.
Bill· SS. 2235 (116th)referred
United States · United States Congress · 23 July 2019
Student Loan Debt Relief Act of 2019 This bill establishes programs to cancel certain student loan debt and refinance student loans. First, the bill requires the Department of Education (ED) to automatically discharge (i.e., repay or cancel) up to $50,000 of outstanding student loan debt for each qualified borrower. Borrowers with an adjusted gross income of $100,000 or less, based on the most recent tax year, may receive the maximum loan cancellation. Borrowers with an adjusted gross income above $100,000 may receive partial loan cancellation. Members of Congress are not eligible to receive loan cancellation. Further, the bill outlines the method of loan discharge, and excludes loan cancellation from taxable income. It also requires ED to automatically place each federal student loan borrower in administrative forbearance for the one-year period in which ED carries out the cancellation of student loans. During this period, payments are not due, interest does not accrue, and ED may not pursue debt collection activities (e.g., wage garnishments). Next, the bill requires ED to carry out student loan refinancing programs for those student loans that exist after the loan cancellation period. Specifically, it directs ED to automatically refinance federal student loans at the lower interest rates offered to new federal borrowers in the 2016-2017 school year. It also allows borrowers to convert their private student loans to federal student loans, thereby allowing such borrowers to qualify for loan cancellation. It also makes student loans dischargeable in bankruptcy proceedings. Finally, the bill specifies notification requirements.
Bill· SS. 2231 (116th)referred
United States · United States Congress · 23 July 2019
American Opportunity Accounts Act This bill requires federally funded and managed savings accounts (American Opportunity Accounts) to be established for American children who are under the age of 18. The bill also increases and modifies (1) estate and gift taxes, and (2) capital gains taxes.
Bill· SS. 2230 (116th)referred
United States · United States Congress · 23 July 2019
Child Care Flex Spending Act of 2019 This bill increases the amount that employees may exclude from their gross income for employer-provided dependent care assistance.
Bill· SS. 2227 (116th)referred
United States · United States Congress · 23 July 2019
Marijuana Opportunity Reinvestment and Expungement Act of 2019 or the MORE Act of 2019 This bill decriminalizes marijuana. Specifically, it removes marijuana from the list of scheduled substances under the Controlled Substances Act and eliminates criminal penalties for an individual who manufactures, distributes, or possesses marijuana. The bill also makes other changes, including the following: replaces statutory references to marijuana and marihuana with cannabis , requires the Bureau of Labor Statistics to regularly publish demographic data on cannabis business owners and employees, establishes a trust fund to support various programs and services for individuals and businesses in communities impacted by the war on drugs, imposes a 5% tax on cannabis products and requires revenues to be deposited into the trust fund, makes Small Business Administration loans and services available to entities that are cannabis-related legitimate businesses or service providers, prohibits the denial of federal public benefits to a person on the basis of certain cannabis-related conduct or convictions, prohibits the denial of benefits and protections under immigration laws on the basis of a cannabis-related event (e.g., conduct or a conviction), and establishes a process to expunge convictions and conduct sentencing review hearings related to federal cannabis offenses.
Bill· SS. 2222 (116th)referred
United States · United States Congress · 23 July 2019
This bill prohibits the Export-Import Bank from providing financing to a person with seriously delinquent tax debt or for a project in which any participant has seriously delinquent tax debt.
Bill· SS. 2214 (116th)referred
United States · United States Congress · 23 July 2019
Volunteer Emergency Services Recruitment and Retention Act of 2019 This bill amends the Internal Revenue Code to provide for the treatment of length of service award plans as eligible deferred compensation plans for retirement plan purposes. It also exempts such length of service award plans from requirements relating to employee pension benefit plans under the Employee Retirement Income Security Act (ERISA).
Bill· SS. 2207 (116th)referred
United States · United States Congress · 23 July 2019
Research and Development Tax Credit Expansion Act of 2019 This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million). The bill also increases the rate of the alternative simplified tax credit for such businesses.
Bill· SS. 2199 (116th)referred
United States · United States Congress · 22 July 2019
Insulin Price Reduction Act This bill prohibits health insurance plan issuers and pharmacy benefits managers (PBMs) from receiving rebates or discounts for insulin from manufacturers who certify that its current insulin list price has been reduced to an amount no greater than what the list price was for the same insulin on July 1, 2006. This restriction does not apply to discounts provided to insurance plan holders at retail sale or to flat-rate fees for service paid to PBMs. Further, insurance plans are prohibited from applying a deductible to insulin that has received such price certification. A manufacturer may certify insulin prices by submitting to the Department of Health and Human Services data about the list price of any insulin the manufacturer has produced since January 1, 2000, and by setting the current list price for an insulin product at the 2006 rate. To remain certified, a manufacturer may not increase the list price of insulin by more than the annual increase in the medical care consumer price index. A manufacturer may certify the price of an insulin product for which it did not have a list price in 2006 by reducing the list price of such insulin to the weighted average list price in 2006 of specified insulin categories. This bill also applies to Medicare prescription drug benefits. The bill sets the rebate for insulin under Medicaid based on the average manufacturer price of insulin during the last fiscal quarter of 2019, increasing by the medical care consumer price index thereafter.
Bill· SS. 2198 (116th)referred
United States · United States Congress · 22 July 2019
Promoting the Launch of Aviation's Next Era Act of 2019 or the PLANE Act of 2019 This bill revises provisions related to the Federal Aviation Administration (FAA), including provisions for air traffic controllers and protections for the aviation community. Among other things, the bill expands pilot protection to include that pilot facing an investigation by the FAA can appeal to a federal district court for de novo review, establishes a five-year public-private partnership for general aviation airports to attract private sector investments, designates certain general aviation airports as disaster relief airports, directs employees and staff of the FAA Academy responsible for training air traffic controllers to remain open during a government shutdown, provides practical experience for trainee air traffic control operators, and requires that all tax receipts from aviation fuel sources are deposited in the Airport and Airways Trust Fund.
Bill· HRH.R. 3861 (116th)referred
United States · United States Congress · 19 July 2019
Carbon Capture Improvement Act of 2019 This bill authorizes the issuance of tax-exempt facility bonds for the financing of qualified carbon dioxide capture facilities. A "qualified carbon dioxide capture facility" is any equipment installed in an industrial carbon dioxide facility that satisfies specified capture and storage requirements and (1) is used for the capture, treatment and purification, compression, transportation, or on-site storage of carbon dioxide produced by the industrial carbon dioxide facility; or (2) is integral or functionally related and subordinate to a gasification process that converts a product from coal, petroleum residue, biomass, or other materials which are recovered for their energy or feedstock value into a synthesis gas composed primarily of carbon dioxide and hydrogen for direct use or subsequent chemical or physical conversion.
Bill· HRH.R. 3848 (116th)referred
United States · United States Congress · 18 July 2019
Stop Wall Street Looting Act This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill increases financial and legal liability for these funds in the event of certain violations of law, gives employee compensation higher priority in bankruptcies, and generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund. The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.
Bill· HRH.R. 3833 (116th)referred
United States · United States Congress · 18 July 2019
Streamlining Income-driven, Manageable Payments on Loans for Education Act or the SIMPLE Act This bill directs the Department of Education (ED) to automatically request from the Internal Revenue Service a borrower's tax return information for purposes of determining (1) the borrower's continued eligibility for discharge of Federal Family Education Loans based on permanent and total disability, or (2) recertification of the borrower's income-contingent or income-based loan repayment plan. The bill also establishes a process for ED to enroll a delinquent borrower who is in federal student loan repayment in an income-driven repayment plan.
Bill· HRH.R. 3832 (116th)referred
United States · United States Congress · 18 July 2019
Legacy IRA Act This bill amends the Internal Revenue Code to expand the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes. The bill increases from $100,000 to $400,000 the annual limit on the aggregate amount of distributions for charitable purposes that may be excluded from the gross income of a taxpayer. The bill permits tax-free distributions from IRAs to a split-interest entity for four years after the enactment of this bill. A split-interest entity is exclusively funded by charitable distributions and includes: a charitable remainder annuity trust, a charitable remainder unitrust, or a charitable gift annuity. A charitable gift annuity must commence fixed payments of at least 5% no later than one year from the date of funding. A distribution to a split-interest entity may only be treated as a qualified charitable distribution if: (1) no person holds an income interest in the entity other than the individual for whose benefit the account is maintained, the spouse of such individual, or both; and (2) the income interest in the entity is nonassignable.
Bill· SS. 2162 (116th)open
United States · United States Congress · 18 July 2019
Securing America's Borders Act of 2019 This bill directs Customs and Border Protection (CBP) to hire at least 600 new Border Patrol agents each fiscal year until the total number of agents meets the staffing requirements identified in a 2017 executive order. CBP shall report to the Government Accountability Office a comprehensive staffing analysis reflecting current workload demands.
Bill· SS. 2185 (116th)referred
United States · United States Congress · 18 July 2019
Good Jobs for 21st Century Energy Act This bill establishes Department of Labor requirements and tax incentives for certified entities who construct certain clean energy, manufacturing, or energy efficiency projects. Specifically, the bill initiates prevailing wage jobs in the clean energy economy, builds clean U.S. energy infrastructure and technology, and provides incentives for workforce training and development.
Bill· SS. 2175 (116th)referred
United States · United States Congress · 18 July 2019
Acting on the Annual Duplication Report Act of 2019 This bill requires specified federal agencies to address recommendations made to Congress by the Government Accountability Office and detailed in the annual duplication report. Specifically the Defense Security Cooperation Agency shall review options for expanding the use of administrative surcharges under the foreign military sales program; the Department of Energy shall review options for a long-range target for the optimal size and configuration of the Strategic Petroleum Reserve; the U.S. Mint may modify the composition of circulating coins in accordance with a study and analysis conducted by the Mint if such modification will reduce costs incurred by taxpayers, be seamless, and have no impact on the public and stakeholders; and the Department of the Treasury shall require that any tax return which is prepared electronically, but is printed and filed on paper, bear a code which can, when scanned, convert such return to electronic format. Regarding student loan debt, among other things, an institution of higher education may not include placing students in forbearance as a means of reducing the cohort default rate of the institution.
Bill· SS. 2156 (116th)referred
United States · United States Congress · 18 July 2019
S Corporation Modernization Act of 2019 This bill modifies the tax treatment of S corporations (pass thru entities) to increase from 25% to 60% of S corporation gross receipts the threshold for taxing S corporations with passive investment income; eliminate a provision terminating the status of S corporations with excessive passive investment income for three consecutive years; permit S corporations to have individual retirement accounts as shareholders; allow an adjustment to the basis of an S corporation's assets upon the death of a shareholder, in the form of a 15-year amortization deduction; and permit the Internal Revenue Service to treat a late revocation of S corporation status as timely if it finds there was reasonable cause for failure to make a timely revocation.
Bill· HRH.R. 3803 (116th)referred
United States · United States Congress · 17 July 2019
Pell Grant Flexibility Act of 2019 This bill amends the Internal Revenue Code to exclude from gross income any amount received as a Federal Pell Grant.
Bill· HRH.R. 3796 (116th)referred
United States · United States Congress · 17 July 2019
Health Savings for Seniors Act This bill permits a Medicare beneficiary to participate in and contribute to health savings accounts.
Bill· HRH.R. 3790 (116th)referred
United States · United States Congress · 17 July 2019
Residential Recovery Zone Act This bill allows a new tax credit for the purchase of a principal residence in a residential recovery zone. The credit is equal to 10% of the purchase price of the residence, which may not exceed $1.5 million. The dollar amount of the credit is limited to $8,000 in a taxable year. The bill allows the chief executive officer (e.g., governor) of a state to designate certain population census tracts in areas related to federally declared disasters as opportunity zones. This makes investments in the areas eligible for various tax incentives.
Bill· SS. 2155 (116th)referred
United States · United States Congress · 17 July 2019
Stop Wall Street Looting Act This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill increases financial and legal liability for these funds in the event of certain violations of law, gives employee compensation higher priority in bankruptcies, and generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund. The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.
Bill· SS. 2140 (116th)referred
United States · United States Congress · 17 July 2019
Stop Corporate Inversions Act of 201 9 This bill amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States). The bill provides that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.
Bill· SJRESS.J.Res. 50 (116th)failed
United States · United States Congress · 16 July 2019
This resolution expresses congressional disapproval of the rule submitted by the Internal Revenue Service relating to charitable contribution and estate tax deductions when a taxpayer receives or expects to receive a corresponding state or local tax credit, and such rule shall have no force or effect.
Bill· HJRESH.J.Res. 72 (116th)referred
United States · United States Congress · 16 July 2019
This resolution expresses congressional disapproval of the rule submitted by the Internal Revenue Service relating to charitable contribution and estate tax deductions when a taxpayer receives or expects to receive a corresponding state or local tax credit, and such rule shall have no force or effect.
Bill· SS. 2119 (116th)open
United States · United States Congress · 15 July 2019
Stop Improper Federal Bonuses Act This bill prohibits a federal agency from awarding a bonus to any employee for five years after the end of a fiscal year in which the agency makes an adverse finding relating to the employee. An adverse finding is a determination that an employee's conduct violated (1) a policy of the agency for which the employee may be removed or suspended for at least 14 days, or (2) a law for which the employee may be imprisoned for more than one year. The bill requires an agency to issue an order directing an employee to repay a bonus awarded in any year in which an adverse finding is made, and the agency must allow such employee to repay such bonus using a repayment plan. As a condition of receiving a bonus awarded after this bill's enactment, an employee must certify that he or she will repay the bonus in accordance with such an order.
Resolution· HRESH.Res. 491 (116th)passed
United States · United States Congress · 15 July 2019
Sets forth the rule for consideration of the bill (H.R. 3494) to authorize appropriations for fiscal year 2020 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; relating to the consideration of House Report 116-125 and an accompanying resolution; relating to the consideration of measures disapproving of sales, exports, or approvals pursuant to the Arms Export Control Act; and providing for consideration of the resolution (H. Res. 489) condemning President Trump's racist comments directed at Members of Congress.
Bill· SS. 2114 (116th)referred
United States · United States Congress · 15 July 2019
ISA Student Protection Act of 2019 This bill provides for income-share agreements whereby a student agrees to pay a percentage of future income, for a specified period of time, in exchange for funds to pay for educational expenses. The bill places caps on the percentage of a student's future income that may go towards repayment, provides income minimums under which the required payment is zero, and establishes limitations on the length of these agreements. The bill provides for the treatment of these agreements under various laws, including tax, securities, and consumer finance laws.
Bill· HRH.R. 3744 (116th)referred
United States · United States Congress · 12 July 2019
Agriculture Environmental Stewardship Act of 2019 This bill allows energy tax credits through 2021 for investments in (1) qualified biogas property, or (2) qualified manure resource recovery property. The bill also permits new clean renewable energy bonds to be used for such properties. "Qualified biogas property" comprises a system that (1) uses anaerobic digesters or other specified processes to convert biomass into a gas which is at least 52% methane, and (2) captures the gas for use as a fuel. The term includes property that cleans and conditions the gas for use as a fuel. "Qualified manure resource recovery property" comprises a system that uses specified processes to recover the nutrients nitrogen and phosphorus from a non-treated digestate or animal manure by reducing or separating at least 50% of the nutrients, excluding any reductions during the incineration, storage, composting, or field application of the non-treated digestate or animal manure. The term also includes certain processing equipment. The Department of the Treasury must enter into an agreement with the National Renewable Energy Laboratory for a study of biogas and report to Congress on the study.
Bill· SS. 2108 (116th)open
United States · United States Congress · 11 July 2019
Small County PILT Parity Act This bill increases the maximum amount of a Payment In Lieu of Taxes (PILT) that may be made to a local government to help offset losses in property taxes due to nontaxable federal lands. The maximum PILT payment to a local government is based on the size of the population served. The bill's increase in the maximum PILT payment is greater for local governments with a population below 4,500.
Bill· HRH.R. 3708 (116th)reported
United States · United States Congress · 11 July 2019
Primary Care Enhancement Act of 2019 This bill permits a taxpayer with a primary care service arrangement whose fixed periodic fee does not exceed $150 a month to participate in and contribute to a health savings account.
Bill· HRH.R. 3716 (116th)referred
United States · United States Congress · 11 July 2019
Small County PILT Parity Act This bill increases the maximum amount of a Payment In Lieu of Taxes (PILT) that may be made to a local government to help offset losses in property taxes due to nontaxable federal lands. The maximum PILT payment to a local government is based on the size of the population served. The bill's increase in the maximum PILT payment is greater for local governments with a population below 4,500.
Bill· HRH.R. 3717 (116th)referred
United States · United States Congress · 11 July 2019
Dollars for the Wall Act This bill terminates after 2018 the taxpayer checkoff provisions of the Internal Revenue Code for payments to the Presidential Election Campaign Fund and replaces them with a taxpayer checkoff for payments to the Border Wall Trust Fund.
Bill· HRH.R. 3709 (116th)referred
United States · United States Congress · 11 July 2019
Chronic Disease Management Act of 2019 This bill allows high deductible health plans to provide treatment for chronic diseases without requiring a plan deductible.
Law· SS. 2107 (116th)enacted
United States · United States Congress · 11 July 2019
Protecting America's Food and Agriculture Act of 2019 This bill authorizes U.S. Customs and Border Protection (CBP), every fiscal year, to hire, train, and assign 240 new agricultural specialists until the total number of specialists equals and sustains the requirements identified each year in the Agriculture Resource Allocation Model. The CBP may also hire, train, and assign support staff to assist the specialists and specified levels of agricultural canine teams. In calculating the number of specialists needed at each port of entry through the Agriculture Resource Allocation Model, the Office of Field Operations of the CBP must (1) rely on data collected regarding the inspections and other activities conducted at each such port of entry; and (2) consider volume from seasonal surges, other projected changes in commercial and passenger volumes, the most current commercial forecasts, and other relevant information.
Bill· SS. 2100 (116th)referred
United States · United States Congress · 11 July 2019
Veterans Jobs Opportunity Act This bill allows a new business-related tax credit for 15% of the start-up expenditures, up to a maximum of $50,000 in a taxable year, of a veteran-owned small business. The business must be owned and controlled by one or more veterans or their spouses and have its principal place of business in an underserved community. The bill defines "underserved community" as any area located within a HUBZone, an empowerment zone or enterprise community, an area of low or moderate income, or a county with persistent poverty.
Bill· SS. 2092 (116th)referred
United States · United States Congress · 11 July 2019
Modernizing the Pittman-Robertson Fund for Tomorrow's Needs Act This bill revises provisions of the Pittman-Robertson Wildlife Restoration Act relating to the funding of wildlife conservation. Specifically, the bill adds new definitions, including a definition of hunter recruitment and recreational shooter recruitment ; apportions to states revenues from taxes on pistols, revolvers, bows, and arrows at a rate not greater than 3% and not less than 1% of such revenues; removes the existing prohibition on public relations to allow spending by states for management of wildlife areas and promotion of hunting and recreational shooting; allows the use of grant funds for the enhancement of hunter recruitment and recreational shooter recruitment; and expands the Multistate Conservation Grant program by providing $5 million exclusively for making hunter and recreational shooter recruitment project grants that promote a national hunting and shooting sport recruitment program, including related communication and outreach activities. The Fish and Wildlife Service shall review and evaluate the effects of funds used for hunter and recreational shooter recruitment on funds available for wildlife conservation.
Bill· SS. 2091 (116th)referred
United States · United States Congress · 11 July 2019
Backlog Elimination, Legal Immigration, and Employment Visa Enhancement Act or the BELIEVE Act This bill increases maximum limits on employment-based visas and makes other related changes. The bill increases the worldwide cap on employment-based immigrants admitted each fiscal year, from 140,000 plus certain additions to 270,000 plus the same additions. The bill (1) eliminates existing per-country caps on employment-based immigrants, (2) allows certain employment-based immigrants to comprise a higher percentage of the worldwide level of immigration in a fiscal year than under current law, (3) exempts from numerical caps immigrants coming to work in the United States as physical therapists or professional nurses, and (4) exempts from numerical caps a qualifying alien who graduated from a U.S. institution of higher education and who was admitted into the United States as a dependent of a nonimmigrant. The bill provides various immigration-related benefits, such as work authorization and exemption from certain numerical limits, to qualifying spouses and children of employment-based immigrants. An alien who has properly filed for permanent legal resident status and is awaiting a visa number becoming available shall have lawful status and employment authorization while the application is pending, subject to requirements such as a background check.
Bill· HRH.R. 3688 (116th)referred
United States · United States Congress · 10 July 2019
Public Service Transparency Act This bill requires candidates for the office of President or Vice President, nominees for a cabinet-level position, and the current occupants of such positions to disclose their federal tax returns. The bill authorizes the Office of Government Ethics to disclose such tax returns to the extent they are required to be made available.
Bill· HRH.R. 3674 (116th)referred
United States · United States Congress · 10 July 2019
Eliminating the Hidden Student Loan Tax Act This bill eliminates origination fees on future federal student loans. Origination fees are the fees lenders charge for processing new loan applications.
Bill· HRH.R. 3664 (116th)referred
United States · United States Congress · 10 July 2019
Aiding Development of Vital Assets in Native Communities and Environments Act of 2019 or the ADVANCE Act of 2019 This bill directs the Department of the Treasury to establish a program under which the Community Development Financial Institutions Fund shall provide outreach and training with respect to the new markets tax credit in low-income communities (including Indian country) with a disproportionately low amount of investment by community development entities.
Bill· SS. 2079 (116th)referred
United States · United States Congress · 10 July 2019
This bill treats certain disability payments and other payments made by Indian tribes or Native Corporations to children as the earned income of such children. This exempts such income from the "kiddie tax" which taxes the unearned income of children at the parent's marginal tax rate.
Bill· SS. 2078 (116th)referred
United States · United States Congress · 10 July 2019
This bill treats dividends paid to children from the Alaska Permanent Fund as earned income, not subject to the "kiddie tax" which taxes income of children as unearned income subject to the parent's marginal tax rate.
Resolution· HRESH.Res. 476 (116th)passed
United States · United States Congress · 9 July 2019
Sets forth the rule for consideration of the bill (H.R. 2500) to authorize appropriations for fiscal year 2020 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes, and providing for consideration of motions to suspend the rules.
Bill· HRH.R. 3650 (116th)referred
United States · United States Congress · 9 July 2019
Safe Harbor for Taxpayers with Forked Assets Act of 2019 This bill establishes a safe harbor period that prohibits certain penalties and additional taxes from applying to a taxpayer who receives a forked convertible virtual currency until the Internal Revenue Service issues regulations or guidance, or legislation is enacted, that addresses specified issues related to the tax treatment of forked convertible virtual currency. A "forked convertible virtual currency" is any convertible virtual currency to which the taxpayer becomes entitled by reason of a hard fork. A "hard fork" is any material change in the shared digital ledger which is used to verify by consensus transactions in the currency if the change results in the maintenance of independent shared digital ledgers with respect to the currency. The legislation, regulations, or guidance must prescribe the tax treatment of receiving forked convertible virtual currency, rules for calculating and allocating the basis of forked convertible virtual currency, rules for calculating the fair market value of forked convertible virtual currency at any given time, and rules for determining the holding period of forked convertible virtual currency.
Bill· HRH.R. 3647 (116th)referred
United States · United States Congress · 9 July 2019
Impact Aid Infrastructure Act This bill provides $1 billion in funding in FY2021 for impact aid construction grants. The grants provide infrastructure assistance to school districts that have lost property tax revenue due to tax-exempt federal property in the districts or that have increased expenditures due to the enrollment of children residing on Indian lands, military bases, or low-rent housing property, or children who have parents in the uniformed services or employed on federal properties.
Bill· HRH.R. 3598 (116th)referred
United States · United States Congress · 28 June 2019
Federally Requiring Earned Education-debt Discharges for Vets Act or the FREED Vets Act This bill requires the Department of Education (ED) to automatically discharge loans under the Federal Family Education Loan program for certain borrowers who are veterans of the U.S. Armed Forces. Specifically, ED must automatically discharge a veteran borrower's loan when the Department of Veterans Affairs has assigned the borrower a rating of total disability for a service-connected disability or has determined the borrower to be unemployable due to a service-connected condition, determine whether a state might impose a tax liability for the discharge of such a loan, and provide the borrower with a notification related to potential tax liability and an opportunity to opt out of such loan discharge.
Bill· HRH.R. 3594 (116th)referred
United States · United States Congress · 28 June 2019
Healthcare Freedom Act of 2019 This bill expands the availability of health savings accounts. It renames such accounts as "health freedom accounts" and allows all individuals to receive increased tax deductions for contributions to such accounts. The term "qualified medical expenses" is expanded to include costs associated with direct primary care, health care sharing ministries, and medical cost sharing organizations. The bill also excludes employer contributions to health freedom accounts from employee gross income for income tax purposes.