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Bill· HRH.R. 8321 (94th)referred
United States · United States Congress · 26 June 1975
Permits, under the Internal Revenue Code, a taxpayer who has attained the age of 65 or one who is disabled to take an optional tax credit of up to $250 against the income tax for real property taxes paid, or for the amount of rent constituting such taxes paid by the taxpayer.
Bill· HRH.R. 8305 (94th)referred
United States · United States Congress · 26 June 1975
Prohibits States and political subdivisions from imposing discriminatory taxes upon the generation of electricity distributed in interstate commerce.
Bill· HRH.R. 8351 (94th)referred
United States · United States Congress · 26 June 1975
Authorizes utilities to amortize coal-burning power generating equipment over a five year period for purposes of income tax deduction under the Internal Revenue Code.
Bill· HRH.R. 8336 (94th)referred
United States · United States Congress · 26 June 1975
Provides that for purposes of applying any exemption from tax under the Internal Revenue Code provided by a treaty to which the United States is a party with respect to income derived by an alien temporarily in the United States solely for the purpose of teaching or engaging in research at an educational institution, any agency or instrumentality of the United States which engages in research activities shall be treated as a recognized educational institution.
Bill· HRH.R. 8289 (94th)referred
United States · United States Congress · 26 June 1975
Provides, under the Internal Revenue Code, for increased moving expense deductions for meals and lodging at the location of the former residence and for an additional 30 days (for a total of 60 days) in the area of the new place of employment. Reduces from 50 to 20 miles the minimum distance from the new place of work which is required to authorize a deduction for moving expenses. Increases the aggregate amount allowable as a deduction for meals and lodging, and for transportation. Increases the deduction for a married couple filing separately when both husband and wife commence work at the new location. Excludes from gross income any amount received by an employee from his employer as reimbursement of moving expenses. Sets forth conditions under which the deduction for moving expenses will be disallowed or limited.
Bill· HRH.R. 8339 (94th)referred
United States · United States Congress · 26 June 1975
Permits, under the Internal Revenue Code, a parent who supports a handicapped child to take a personal exemption for that child without consideration of such child's income.
Bill· HRH.R. 8335 (94th)referred
United States · United States Congress · 26 June 1975
Allows individuals who have attained age 65 or who are disabled a refundable tax credit of up to $500, under the Internal Revenue Code of 1954, for property taxes paid by them on their principal residences or for a portion of the rent attributable to property taxes they pay for their principal residences during the taxable year. Reduces the credit available under this Act by 10 percent of the individual's adjusted gross income in excess of $9,000. Disallows the tax deduction for such taxes when a tax credit is taken.
Bill· HRH.R. 8320 (94th)referred
United States · United States Congress · 26 June 1975
Commuters' Tax Act - Provides, under the Internal Revenue Code, that in the case of an individual, there shall be allowed as a tax credit against the income tax an amount equal to the amounts paid by such individual during the taxable year for reasonable public transit transportation between his or her place of residence and place of employment. Provides that the maximum credit allowed for a taxable year shall be limited to $200. Allows an income tax credit for disabled individuals for the cost of transportation to and from work to a maximum of $750 per taxable year. Defines "disabled individual" as an individual who is blind, or has lost the use of one or more of his extremities, or is otherwise disabled to such an extent that in order to avoid undue hardship or danger he must use something other than public transportation. Provides that an individual may make an income tax deduction in lieu of a tax credit for the expense of public transportation to and from work, such deduction to be limited to a maximum of $800. Provides that a disabled individual may make an income tax deduction in lieu of a tax credit for the expense of transportation to and from work, such deduction to be limited to a maximum of $3,000.
Bill· HRH.R. 8302 (94th)referred
United States · United States Congress · 26 June 1975
Farm Tax Equity Act - Limits, under the Internal Revenue Code, deductions with respect to a taxpayer engaged in the business of farming to: (1) the gross income of the business for the taxable year; and (2) in the case of an individual or a bona fide family farm corporation, the higher of $10,000 or the amount of special deductions allowed by this Act, or for any other taxpayer, the amount of special deductions. Prohibits the application of such deductions when the taxpayer uses specified accounting methods. Defines terms used in this Act.
Bill· HRH.R. 8316 (94th)referred
United States · United States Congress · 26 June 1975
Provides an additional personal tax exemption under the Internal Revenue Code for a taxpayer, his spouse, or his dependent, who is disabled. Defines the term "disabled" for the purposes of this Act.
Bill· HRH.R. 8298 (94th)referred
United States · United States Congress · 26 June 1975
Provides, under the Internal Revenue Code, that where compensation is paid an employee by two or more employers, one of the employers may, by notice to the Secretary of the Treasury and by agreement with the other employer or employers, elect to have the taxes imposed under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act apply to so much of the compensation paid by such employer for such calendar year as does not exceed the maximum amount of compensation with respect to such taxes. States that in such case the liability of the other employer or employers shall be limited to the tax applicable to the difference, if any, between the compensation paid by the electing employer and the maximum amount of compensation to which such taxes apply, if paid by a single employer.
Bill· HRH.R. 8273 (94th)referred
United States · United States Congress · 26 June 1975
Increases to $225,000 the maximum amount of payments for any fiscal year which the Commissioner of Education may pay to any State for the administrative expenses incurred by the State in carrying out title I of the Elementary and Secondary Education Act of 1965.
Bill· HRH.R. 8295 (94th)referred
United States · United States Congress · 26 June 1975
Increases from $1,000,000 to $10,000,000 the amount of interest on industrial development bonds which may be excluded from gross income under the Internal Revenue Code of 1954.
Bill· SS. 2007 (94th)referred
United States · United States Congress · 25 June 1975
Provides an income tax credit of up to $20,000 to an employer for one-half of the amount of wages paid to not more than two new employees during the taxable year ending December 31, 1976. Establishes regulations concerning the apportionment of such credit for married individuals, controlled groups of corporations, small businesses, estates and trusts. Provides for the recapture by the Secretary of the Treasury of credits allowed in the case of new employees whose employment is terminated within the first 12 months.
Bill· HRH.R. 8245 (94th)referred
United States · United States Congress · 25 June 1975
Permits the Secretary of the Treasury under the State and Local Fiscal Assistance Act to withhold a percentage of the total entitlement payment for any period to insure sufficient funds for final allocation of funds among the state and local units of government. Appropriates to the State and Local Government Fiscal Assistance Trust Funds: (1) $1,625,000,000 for fiscal year 1976, (2) $6,687,500,000 for fiscal year 1977, (3) $6,837,500,000 for fiscal year 1978, (4) $6,987,500,000 for fiscal year 1979, (5) $7,137,500,000 for fiscal year 1980, and (6) $7,287,500,000 fiscal year 1981. Appropriates to the Fund as noncontiguous States adjustments: (1) $1,195,000 for fiscal year 1976, and (2) $4,780,000 for each of the fiscal years 1976 through 1981. Exempts amounts appropriated to the Fund from the provisions of the Congressional Budget Act. Directs the Secretary of the Treasury to submit a report with appropriate recommendations to the Congress no later than September 30, 1980, concerning the extension of this title. Declares that if the entitlement of any Indian tribe or Alaskan native village is waived for any entitlement period, then the amount of such entitlement shall become part of the entitlement of the county government of the county in which such unit is located. Increases the maximum percentage points per entitlement period until it reaches 175 percent. Directs each State and local unit of government which receives funds under such Act to submit a report to the Secretary after the close of each entitlement period on the use of the funds received. Directs such unit of local government which expects to receive funds to submit a report to the Secretary on how it plans to use the funds it expects to receive. Empowers the Secretary whenever he determines that a unit of government has failed to comply with an applicable regulation to withhold all or a portion of the entitlement funds due such unit of government, to terminate the eligibility of such unit of government, and to require repayment of the entitlement funds expended. Requires units of government to provide an opportunity for citizens to give recommendations and views on the proposed expenditures of all funds within such units distributed under such Act.
Bill· HRH.R. 8246 (94th)referred
United States · United States Congress · 25 June 1975
Permits the Secretary of the Treasury under the State and Local Fiscal Assistance Act to withhold a percentage of the total entitlement payment for any period to insure sufficient funds for final allocation of funds among the state and local units of government. Appropriates to the State and Local Government Fiscal Assistance Trust Funds: (1) $1,625,000,000 for fiscal year 1976, (2) $6,687,500,000 for fiscal year 1977, (3) $6,837,500,000 for fiscal year 1978, (4) $6,987,500,000 for fiscal year 1979, (5) $7,137,500,000 for fiscal year 1980, and (6) $7,287,500,000 fiscal year 1981. Appropriates to the Fund as noncontiguous States adjustments: (1) $1,195,000 for fiscal year 1976, and (2) $4,780,000 for each of the fiscal years 1976 through 1981. Exempts amounts appropriated to the Fund from the provisions of the Congressional Budget Act. Directs the Secretary of the Treasury to submit a report with appropriate recommendations to the Congress no later than September 30, 1980, concerning the extension of this title. Declares that if the entitlement of any Indian tribe or Alaskan native village is waived for any entitlement period, then the amount of such entitlement shall become part of the entitlement of the county government of the county in which such unit is located. Increases the maximum percentage points per entitlement period until it reaches 175 percent. Directs each State and local unit of government which receives funds under such Act to submit a report to the Secretary after the close of each entitlement period on the use of the funds received. Directs such unit of local government which expects to receive funds to submit a report to the Secretary on how it plans to use the funds it expects to receive. Empowers the Secretary whenever he determines that a unit of government has failed to comply with an applicable regulation to withhold all or a portion of the entitlement funds due such unit of government, to terminate the eligibility of such unit of government, and to require repayment of the entitlement funds expended. Requires units of government to provide an opportunity for citizens to give recommendations and views on the proposed expenditures of all funds within such units distributed under such Act.
Bill· HRH.R. 8244 (94th)referred
United States · United States Congress · 25 June 1975
Permits the Secretary of the Treasury under the State and Local Fiscal Assistance Act to withhold a percentage of the total entitlement payment for any period to insure sufficient funds for final allocation of funds among the state and local units of government. Appropriates to the State and Local Government Fiscal Assistance Trust Funds: (1) $1,625,000,000 for fiscal year 1976, (2) $6,687,500,000 for fiscal year 1977, (3) $6,837,500,000 for fiscal year 1978, (4) $6,987,500,000 for fiscal year 1979, (5) $7,137,500,000 for fiscal year 1980, and (6) $7,287,500,000 fiscal year 1981. Appropriates to the Fund as noncontiguous States adjustments: (1) $1,195,000 for fiscal year 1976, and (2) $4,780,000 for each of the fiscal years 1976 through 1981. Exempts amounts appropriated to the Fund from the provisions of the Congressional Budget Act. Directs the Secretary of the Treasury to submit a report with appropriate recommendations to the Congress no later than September 30, 1980, concerning the extension of this title. Declares that if the entitlement of any Indian tribe or Alaskan native village is waived for any entitlement period, then the amount of such entitlement shall become part of the entitlement of the county government of the county in which such unit is located. Increases the maximum percentage points per entitlement period until it reaches 175 percent. Directs each State and local unit of government which receives funds under such Act to submit a report to the Secretary after the close of each entitlement period on the use of the funds received. Directs such unit of local government which expects to receive funds to submit a report to the Secretary on how it plans to use the funds it expects to receive. Empowers the Secretary whenever he determines that a unit of government has failed to comply with an applicable regulation to withhold all or a portion of the entitlement funds due such unit of government, to terminate the eligibility of such unit of government, and to require repayment of the entitlement funds expended. Requires units of government to provide an opportunity for citizens to give recommendations and views on the proposed expenditures of all funds within such units distributed under such Act.
Bill· HRH.R. 8226 (94th)referred
United States · United States Congress · 25 June 1975
Capital Recovery Act - Provides, under the Internal Revenue Code, a deduction for capital recovery to be used in lieu of the existing depreciation deduction at the election of the taxpayer. Defines the property with respect to which such a deduction may be made. Sets forth tables from which the amount of such deduction may be determined based on the acquisition costs of the property and the number of taxable years passed since acquisition. Authorizes the taxpayer to carry a portion of the deduction allowable for one taxable year to succeeding years.
Bill· HRH.R. 8224 (94th)referred
United States · United States Congress · 25 June 1975
Historic Structures Tax Act - Provides, under the Internal Revenue Code, for the preservation and rehabilitation of historic structures by allowing a tax deduction under the Internal Revenue Code with respect to the amortization of the amortizable basis of any certified historic structure based on a period of 60 months. Specifies that no deduction shall be allowed for any expense or loss incurred as a result of the destruction of a certified historic structure. Limits deductions on structures erected upon a site which was occupied by a certified historic structure which was demolished or substantially altered. Allows the taxpayer to compute the depreciation deduction attributable to substantially rehabilitated property as through the original use of such property commenced with him. Permits deductions for transfer of the remainder or partial interests in property for conservation purposes.
Bill· HRH.R. 8215 (94th)referred
United States · United States Congress · 25 June 1975
Increases the value of exemptions for taxable estates under the Internal Revenue Code from $60,000 to $200,000 of the value of the gross estate. Increases the limitation on the aggregate marital deduction to 50 percent of the adjusted gross value of the estate, plus $100,000. Allows an executor to value farmland, woodland, and scenic open land at its current use value rather than at its fair market value.
Bill· HRH.R. 8170 (94th)referred
United States · United States Congress · 24 June 1975
Local Fiscal Assistance Act - Revises the State and Local Fiscal Assistance Act to delete the provisions of that Act authorizing payments by the Secretary of the Treasury to State governments from the Trust Fund created by that Act. Changes the designation of the "State and Local Government Fiscal Assistance Trust Fund" to the "Local Government Fiscal Assistance Trust Fund". Makes appropriations to the Trust Fund, out of amounts in the general fund of the Treasury, for the transition period and for fiscal years 1976 through 1981. Makes appropriations to the Trust Fund, out of amounts in the general fund of the Treasury, for noncontiguous States adjustment amounts, for the transition period and for fiscal years 1976 through 1981. Directs that allocations made to States from the Trust Fund be allocated among the units of local government of the States. Authorizes local government units to draw funds to which they will become entitled in advance of the actual period of entitlement.
Bill· HRH.R. 8164 (94th)referred
United States · United States Congress · 24 June 1975
Excludes from gross income, under the Internal Revenue Code, any pension or annuity received under a public retirement system.
Bill· HRH.R. 8167 (94th)referred
United States · United States Congress · 24 June 1975
Allows as a deduction under the Internal Revenue Code State and local public utility taxes.
Bill· HJRESH.J.Res. 528 (94th)referred
United States · United States Congress · 24 June 1975
Expresses the sense of Congress that the Secretary of Defense, in administering Public Law 94-11 which appropriates foreign assistance for fiscal year 1975, include in the $300,000,000 foreign military credit sales appropriated to assist the State of Israel, F-15 fighter planes, electronic countermeasures, and other sophisticated weapons necessary to insure the continued viability of Israel.
Bill· HRH.R. 8125 (94th)failed
United States · United States Congress · 23 June 1975
Revises the Internal Revenue Code in order to change the braket tax on cigars to an ad valorem tax. States that the tax on cigars weighing more than three pounds per thousand shall be eight and one-half percent of the wholesale price but not more than $20 per thousand. Defines wholesale price as manufacturer's suggested delivered price. Provides that records of manufacturers shall be available for inspection by any internal revenue officer during business hours.
Bill· HRH.R. 8133 (94th)referred
United States · United States Congress · 23 June 1975
Allows a tax deduction under the Internal Revenue Code for State and local public utility taxes.
Bill· HRH.R. 8134 (94th)referred
United States · United States Congress · 23 June 1975
Allows, under the Internal Revenue Code, an investment tax credit of 25 percent of the qualified investment in a battery-powered vehicle. Exempts battery-powered vehicles from the Federal excise tax on vehicles.
Bill· HRH.R. 8132 (94th)referred
United States · United States Congress · 23 June 1975
Provides that a spouse's services shall be taken into account in determining whether that spouse furnished adequate consideration for jointly held property for purposes of qualifying for an exclusion from the Federal estate tax imposed under the Internal Revenue Code.
Resolution· HRESH.Res. 564 (94th)passed
United States · United States Congress · 23 June 1975
Waives specified points of order against the bill (H.R. 8121) making appropriations for the Departments of State, Justice, and Commerce, the Judiciary, and related agencies for fiscal year 1976, and the period ending September 30, 1976.
Resolution· HRESH.Res. 565 (94th)passed
United States · United States Congress · 23 June 1975
Provides that upon the adoption of this resolution it shall be in order to move, clause 7 of rule XXI to the contrary notwithstanding, that the House resolve itself into the Committee of the Whole House on the State of the Union for the consideration of the bill (H.R. 8122) making appropriations for public works for water and power development and energy research, including the Corps of Engineers-Civil, the Bureau of Reclamation, power agencies of the Department of the Interior, the Appalachian regional development programs, the Federal Power Commission, the Tennessee Valley Authority, the Nuclear Regulatory Commission, the Energy Research and Development Administration, and related independent agencies and commissions for fiscal year 1976, and the period ending September 30, 1976, and all points of order against the following provisions in said bill for failure to comply with the provisions of clauses 2 and 6, rule XXI are hereby waived: In title I-"Energy Research and Development Administration"-beginning on page 2, line 13 through page 5, line 11; and in title IV-"Independent Agencies"- beginning on page 25, line 2 through page 26, line 4, and beginning on page 27, line 20 through page 28, line 13.
Resolution· HRESH.Res. 563 (94th)passed
United States · United States Congress · 23 June 1975
Waves specified points of order against the bill (H.R. 8070) making appropriations for the Department of Housing and Urban Development, and for sundry independent executive agencies, boards, bureaus, commissions, corporations, and offices for fiscal year 1976, and the period ending September 30, 1976.
Bill· HRH.R. 8105 (94th)referred
United States · United States Congress · 20 June 1975
Excludes from gross income, under the Internal Revenue Code, amounts won in State lotteries, sweepstakes, or wagering pools.
Bill· HRH.R. 8098 (94th)referred
United States · United States Congress · 20 June 1975
Exempts from the tax on the use of a taxable aircraft under the Internal Revenue Code any person who holds a certificate as an agricultural aircraft operator, whose aircraft is equipped for agricultural operations, and who uses it primarily for such agricultural operations. Grants to an aerial applicator the right to any payment, credit, or refund under the Internal Revenue Code with respect to the use of any liquid as a fuel in an aircraft by such aerial applicator, who was the ultimate purchaser thereof, and who has obtained a waiver in writing from an operator of the farm of his right to any such payment.
Bill· HRH.R. 8111 (94th)referred
United States · United States Congress · 20 June 1975
Revises the Internal Revenue Code to allow as a credit against the income tax amounts paid by an individual during the taxable year for the expenses of higher education for himself or any other individual. Limits such credit to 100 percent of the first $200 of such educational expenses, 25 percent of the next $300, and 5 percent of the next $1000 of such expenses. Reduces such credit by 1 percent of the amount by which the adjusted gross income of the taxpayer exceeds $22,500. Reduces the amount of educational expenses otherwise recognized by this Act by the amounts received as scholarships, fellowships, and veterans benefits.
Bill· HRH.R. 8071 (94th)referred
United States · United States Congress · 20 June 1975
Provides that the advertising of alcoholic beverages is not a deductible business expense under the Internal Revenue Code.
Bill· HRH.R. 8053 (94th)referred
United States · United States Congress · 19 June 1975
Jobs Creation Act - Title I: Individual Income Taxes - Allows a tax credit in the amount of 10 percent (up to $1,000) the amount of qualified individual deposits and investments made by an individual during the taxable year. Defines qualified investments as amounts used to purchase stock in or debt instruments of a domestic corporation. Provides that the first $1000 of capital gain shall be excluded from gross income during the taxable year. Provides, for purposes of the estate tax, that the lesser of: (1) $200,000 and (2) the value of the decedent's interest in a family farming operation continually owned by him for 5 years prior to his death and which passes to a related individual shall be excluded from the value of the taxable estate. Title II: Corporation Taxes - Reduces the normal tax rates imposed on corporations. Increases the investment credit to 15 percent (12 percent in the case of property constructed or acquired before an unspecified date in March, 1975). Increases the corporate surtax exemption from $25,000 to $100,000. Increases the class life variance for purposes of the depreciation deduction allowed for property used in a trade or business or held for the production of income. Title III: Employee Stock Ownership Plan Financing - Creates special deductions for dividends paid during the taxable year by employers on securities held by an employee stock ownership plan (as defined by this title). Provides for the distribution of dividends to employees and repurchase of qualifying employer securities from persons receiving distributions. Provides for the exclusion from gross income of that part of a distribution held or reinvested within 60 days in income-producing assets of equivalent value for the purpose of realizing current income from such assets.
Bill· HRH.R. 8041 (94th)referred
United States · United States Congress · 19 June 1975
Provides, under the Internal Revenue Code, for the transfer of domestic distilled spirits, bottled in bond for export, to foreign trade zones without payment of tax. Provides for the withdrawal of such spirits from foreign trade zones by foreign diplomatic personnel for consumption in the United States.
Bill· HRH.R. 8054 (94th)referred
United States · United States Congress · 19 June 1975
Jobs Creation Act - Title I: Individual Income Taxes - Allows a tax credit in the amount of 10 percent (up to $1,000) the amount of qualified individual deposits and investments made by an individual during the taxable year. Defines qualified investments as amounts used to purchase stock in or debt instruments of a domestic corporation. Provides that the first $1000 of capital gain shall be excluded from gross income during the taxable year. Provides, for purposes of the estate tax, that the lesser of: (1) $200,000 and (2) the value of the decedent's interest in a family farming operation continually owned by him for 5 years prior to his death and which passes to a related individual shall be excluded from the value of the taxable estate. Title II: Corporation Taxes - Reduces the normal tax rates imposed on corporations. Increases the investment credit to 15 percent (12 percent in the case of property constructed or acquired before an unspecified date in March, 1975). Increases the corporate surtax exemption from $25,000 to $100,000. Increases the class life variance for purposes of the depreciation deduction allowed for property used in a trade or business or held for the production of income. Title III: Employee Stock Ownership Plan Financing - Creates special deductions for dividends paid during the taxable year by employers on securities held by an employee stock ownership plan (as defined by this title). Provides for the distribution of dividends to employees and repurchase of qualifying employer securities from persons receiving distributions. Provides for the exclusion from gross income of that part of a distribution held or reinvested within 60 days in income-producing assets of equivalent value for the purpose of realizing current income from such assets.
Bill· HRH.R. 8029 (94th)referred
United States · United States Congress · 19 June 1975
Allows a tax credit against Federal income taxes or a payment from the United States Treasury for State and local real property taxes or an equivalent portion of rent paid on their residences by individuals who have attained age 65. States that the total tax credit and payment from the Treasury under this Act for any taxable year shall not exceed $300 ($150 in the case of a married individual filing a separate return). Provides that the credit otherwise allowable under this Act shall be reduced by an amount equal to the amount by which the taxpayer's adjusted gross income for the taxable year exceeds $6,500 ($3,250 in the case of a married individual filing a separate return). States that in the case of a husband and wife who file a single return jointly under this Act, the age requirement contained herein shall be treated as satisfied if either spouse has attained the age of 65 before the close of the taxable year. Provides that for the purposes of this Act a tenant-stockholder in a cooperative housing corporation shall be deemed to own his dwelling unit. States that the term "rent constituting property taxes" means an amount equal to 25 percent of the rent paid during a taxable year by a taxpayer for the right to occupy his dwelling during that year, excluding any charges for utilities, services, furnishings, or appliances furnished by the landlord as a part of the rental agreement.
Bill· HRH.R. 8044 (94th)referred
United States · United States Congress · 19 June 1975
Provides, under the Internal Revenue Code, for increased moving expense deductions for meals and lodging at the location of the former residence and for an additional 30 days (for a total of 60 days) in the area of the new place of employment. Reduces from 50 to 20 miles the minimum distance from the new place of work which is required to authorize a deduction for moving expenses. Increases the aggregate amount allowable as a deduction for meals and lodging, and for transportation. Increases the deduction for a married couple filing separately when both husband and wife commence work at the new location. Excludes from gross income any amount received by an employee from his employer as reimbursement of moving expenses. Sets forth conditions under which the deduction for moving expenses will be disallowed or limited.
Bill· SS. 1977 (94th)referred
United States · United States Congress · 18 June 1975
Increases from $1,000,000 to $10,000,000 the amount of interest on industrial development bonds which may be excluded from gross income under the Internal Revenue Code of 1954.
Bill· SS. 1968 (94th)referred
United States · United States Congress · 18 June 1975
Excludes specified mission societies and their members from the tax on self-employment income under the Internal Revenue Code. Defines the term "mission society" as used in this Act.
Bill· HRH.R. 8008 (94th)referred
United States · United States Congress · 18 June 1975
Provides, under the Internal Revenue Code, an exemption from income taxation for specified income of condominium housing associations, homeowner associations, and cooperatve housing corporations operated for the management, maintenance, landscaping, and repair of common areas and dwellings.
Bill· SS. 1964 (94th)referred
United States · United States Congress · 17 June 1975
Extends the appropriations authorization for the acquisition and operation of marine sanctuaries, under the Marine Protection, Research, and Sanctuaries Act of 1972, for an additional two years thru fiscal year 1977.
Bill· SS. 1960 (94th)referred
United States · United States Congress · 17 June 1975
Exempts from Federal income taxation a trust established by a taxpayer for the purpose of providing care for specified mentally incompetent relatives of the taxpayer.
Bill· HRH.R. 7950 (94th)passed
United States · United States Congress · 17 June 1975
Extends, under the Federal Election Campaign Act of 1971, the authorization of appropriations for the Federal Election Commission for fiscal years 1976 and 1977.
Bill· HRH.R. 7974 (94th)referred
United States · United States Congress · 17 June 1975
Allows specified percentage tax deductions under the Internal Revenue Code, for the cost of acquiring recycled solid waste materials during the taxable year. Provides, in lieu of any allowable depreciation deduction, for the amortization of the cost basis of solid waste recycling facilities over a period of 60 months.
Bill· HRH.R. 7955 (94th)referred
United States · United States Congress · 17 June 1975
Extends to all unmarried individuals the full tax benefits of income splitting now enjoyed by married individuals filing joint returns under the Internal Revenue Code.
Bill· SS. 1949 (94th)referred
United States · United States Congress · 16 June 1975
Provides, under the Internal Revenue Code, for the exclusion from gross income of the interest on State and municipal obligations issued to provide facilities for the furnishing of water whether or not to the general public. Provides such exclusion for facilities which convert gas or oil burning equipment to equipment which burns other energy burning materials. Increases from $1,000,000 to $10,000,000 the amount of interest on industrial development bonds which may be excluded from gross income.
Law· HRH.R. 7929 (94th)open
United States · United States Congress · 16 June 1975
Removes the classification, under the Internal Revenue Code, as "corporate acquisition indebtedness" of specified obligations issued by a corporation to acquire stock of another corporation after October 9, 1969.