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Bill· SS. 927 (99th)referred
United States · United States Congress · 17 April 1985
Fiscal Year 1986 Highway Amendments Act - Amends the law relating to Federal-aid highway projects to provide that obligations for substitute highway and mass transit projects for FY 1986 shall be paid out of the Highway Trust Fund. (Currently, substitute transit projects are funded from the general fund of the Treasury). Provides that 25 percent of such funds shall be distributed at the Secretary's discretion, and the remaining 75 percent shall be apportioned on the basis of the Federal share of the cost to complete withdrawn interstate routes. Amends the Surface Transportation Assistance Act of 1982 to repeal authorizations for parkways and park highways out of the Highway Trust Fund for FY 1986.
Bill· SS. 926 (99th)referred
United States · United States Congress · 17 April 1985
Directs the Secretary of Transportation to apportion the funds authorized to be appropriated for FY 1987 for expenditure on the National System of Interstate and Defense Highways. Directs the Secretary to use the apportionment factors from the Interstate Cost Estimate submitted to the Congress in January 1985.
Law· HRH.R. 2092 (99th)enacted
United States · United States Congress · 17 April 1985
Amends the Natural Gas Pipeline Safety Act of 1968 and the Hazardous Liquid Pipeline Safety Act of 1979 to authorize appropriations for FY 1986 and 1987. Requires the Secretary of Transportation to take into account the extent to which a qualifying State agency exercises jurisdiction over intrastate pipeline facilities when the Secretary allocates appropriated funds. Amends the Hazardous Liquid Pipeline Safety Act of 1979 to repeal appropriations authorized for FY 1980 and 1981. Amends the Natural Gas Pipeline Safety Act of 1968 and the Hazardous Liquid Pipeline Safety Act of 1979 to require that annual reports submitted to the Secretary of Transportation by State agencies having safety jurisdiction over intrastate pipeline transportation include property damage incidents which exceed an amount established by regulation (currently the amount, $5,000, is established by such Act).
Bill· HRH.R. 2078 (99th)open
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to exclude from gross income as an employee fringe benefit any use of a transferable pass for air passenger transportation by a nonemployee receiving such pass from an airline employee.
Law· HRH.R. 2068 (99th)enacted
United States · United States Congress · 17 April 1985
Title I: Department of State: - Department of State Authorization Act, Fiscal Years 1986 and 1987 - Authorizes appropriations for FY 1986 and 1987 for the Department of State for: (1) administration of foreign affairs; (2) international organizations and conferences; (3) international commissions; (4) migration and refugee assistance; (5) U.S. bilateral science and technology agreements; (6) the Asia Foundation; and (7) Soviet-East European research and training. Directs the Secretary of State to notify specified congressional committees whenever the Secretary submits to the Congress a request for appropriations pursuant to authorizations for certain nondiscretionary costs and for certain Foreign Service benefits. Authorizes the Secretary, to the extent funds are authorized and appropriated, to pay the U.S. share of the expenses of the United Nations peacekeeping forces in the Middle East. (Current law authorizes such funds as may be necessary to make such payments to the Department of State.) Earmarks specified amounts of the authorization for administration of foreign affairs for: (1) the National Commission on Educational, Scientific, and Cultural Cooperation; and (2) special religious sensitivity instruction for Foreign Service officers to be assigned abroad. Earmarks specified amounts of the migration and refugee assistance funds for: (1) refugees resettling in Israel; (2) African refugee assistance; and (3) anti-piracy actions in the Gulf of Thailand. Prohibits using migration and refugee assistance funds to provide reception and placement grants which are conditioned on a grantee accepting the responsibility for meeting the basic food, clothing, or shelter needs of refugees or for transporting to job interviews or training of refugees during the refugees' first 90 days in the United States. Limits the amount of migration and refugee assistance funds that may be used for enhanced reception and placement services. Amends the Migration and Refugee Assistance Act of 1962 to authorize the President to furnish aid under such Act notwithstanding any law which restricts aid to foreign countries. Increases the number of Assistant Secretaries of State. Provides that the Director General of the Foreign Service and the Inspector General of the Department of State and the Foreign Service shall be compensated at level IV of the Executive Pay Schedule. Amends the Department of State Appropriations Authorizations Act of 1973 to repeal the provision providing for reimbursement of the Department of State for personnel detailed to other agencies. Amends the Migration and Refugee Assistance Act of 1962 to authorize using migration and refugee assistance to pay for contracting for personal services abroad. Amends the State Department Basic Authorities Act of 1956 to authorize the State Department to employ and compensate aliens for services abroad, except for purposes relating to compensation for work injuries and certain tort claims. Amends the Foreign Service Act of 1980 to change the limit on the total amount of performance pay awarded to members of the Senior Foreign Service. Authorizes the Secretary of Commerce to appoint an individual to a limited appointment in the Senior Foreign Service for a specific position abroad if: (1) no qualified career member of the Foreign Service is available; and (2) the individual appointed has unique qualifications for the specific position. Amends the State Department Basic Authorities Act of 1956 to authorize special agents of the Department of State and the Foreign Service to: (1) conduct investigations concerning illegal passport or visa issuance or use; (2) serve search warrants, arrest warrants, subpoenas, and summonses to conduct such investigations; (3) protect heads of foreign states, distinguished visitors to the United States, the Secretary of State, foreign missions, and other specified persons; (4) carry firearms if qualified and authorized to do so; and (5) make arrests without warrants for specified offenses. Directs the Secretary to prescribe regulations, which shall be approved by the Attorney General, with respect to the use of firearms by special agents. Provides that the Secret Service is not affected by the provisions dealing with special agents. Requires the Secretary, the Attorney General, and the Secretary of the Treasury to enter into an interagency agreement with respect to their law enforcement functions. Directs the Secretary to transmit all the regulations governing such special agents to specified congressional committees 20 days before they go into effect. Authorizes the Secretary to provide extraordinary protective services for foreign missions to the extent necessary. Authorizes the Secretary to provide funds to a State or local authority for protective services only if the Secretary has determined that circumstances exist which require extraordinary security measures which exceed those which local law enforcement agencies can reasonably be expected to take. Authorizes obligating funds for such purposes only after regulations have been issued after consultation with the appropriate congressional committees. Limits the amount of such funds that may be obligated for protective services within any single State. Requires that at least 15 percent of such funds shall be kept in reserve for protective services provided by the Secretary or for expenditures in local jurisdictions not otherwise covered by an agreement for protective services. Limits an agreement with a State or local authority for the provision of protective services to 90 days subject to renewal. Directs the Secretary to consider matters relating to the protection of U.S. interests in determining the treatment to be accorded a foreign mission in the United States. Authorizes the Secretary to require a foreign mission to forego the acceptance, use, or relation of a benefit. Authorizes the Secretary to require a foreign mission to divest itself of or forego the use of real property if the Secretary determines it is necessary to protect the interests of the United States. Authorizes the Secretary to use funds available to the Secretary to pay for U.S. participation in arbitrations: (1) for the peaceful resolution of disputes under treaties or other international agreements; and (2) arising under contracts authorized by law for the performance of services or acquisition of property abroad. Directs the Secretary to establish the Consular and Passport Services Fund which shall be funded by fees collected for passport and consular services and which shall be available for specified expenses related to providing passport and consular services. Directs the Secretary to report to specified congressional committees at least twice a year on the management plans for using the Fund. Limits transfers of amounts out of the Fund. Authorizes the Secretary to make a grant from funds authorized for administration of foreign affairs to the American-Australian Bicentennial Foundation in support of its programs to prepare for U.S. participation in the Australian Bicentennial celebration. Expresses the sense of the Congress that it is imperative and in the national interest that each U.S. mission to a foreign country provide such support as may be necessary to U.S. citizens seeking to do business in that country. Directs the Secretary to report to the Congress within 90 days of enactment of this Act on proposals to improve the staffing and personnel management in the Bureau of International Narcotics Matters, specifically whether a narcotics specialist personnel category in the Foreign Service is an appropriate mechanism. Requires the Department of State, in order to ensure that foreign narcotics traffickers are denied visas, to cooperate with U.S. law enforcement agencies in establishing a comprehensive information system on all drug arrests of foreign nationals in the United States so such information can be sent to the appropriate U.S. embassies. Directs the Secretary and the Administrator of the Drug Enforcement Administration to agree on uniform guidelines which would permit the sharing of information on drug traffickers. Directs the Secretary to report to the Congress, within six months of enactment of this Act, on steps taken to implement such information network. Directs the Secretary to increase U.S. efforts to negotiate updated extradition treaties relating to narcotics offenses with each major drug-producing country. Directs the Secretary to issue a travel advisory warning U.S. citizens of the dangers of traveling in Mexico. Requires the travel advisory to remain in effect until those responsible for the murder of Drug Enforcement Agent Enrique Camarena Salazar have been brought to trial and a verdict has been obtained. Prohibits using any funds other than State Department funds to change the facilities of the Coordinating Committee on Export Controls. Prohibits any Federal employees other than State Department employees from: (1) being assigned as members of the U.S. delegation to the Coordinating Committee on Export Controls; or (2) being assigned to the Coordinating Committee as advisers to the U.S. delegation to the Coordinating Committee. Title II: United States Information Agency - United States Information Agency Authorization Act, Fiscal Years 1986 and 1987 - Authorizes appropriations for FY 1986 and 1987 for the U.S. Information Agency (USIA). Earmarks specified portions of such authorization for essential modernization of the Voice of America. Requires an amount not less than the amount requested by the USIA in its presentation to the Congress for increases in TV WORLDNET to be used for increases in the world wide book program initiative and related support for the Educational and Cultural Exchange Bureau. Amends the National Endowment for Democracy Act to direct the National Endowment for Democracy to make its proposals, grant agreements, and other official documents available to the public upon request. Prohibits using Endowment funds to finance political campaigns. Prohibits using Endowment funds granted to political party institutes to finance activities of the Republican National Committee or the Democratic National Committee. Requires the Endowment to require its grantees to consult with the U.S. Chief of Mission to a foreign country before funds provided by the Endowment are made available by the grantee for a project in that country. Requires amounts made available by the Endowment in FY 1986 and 1987 to the institutes established by the Democrats and Republicans to be used, to the maximum extent feasible, for projects jointly implemented by those institutes. Earmarks specified amounts of the amounts made available to the Endowment for FY 1986 and 1987 to the Free Trade Union Institute and the Center for International Private Enterprise. Authorizes the USIA to audit the financial transactions of the Endowment under specified conditions. Title III: Board for International Broadcasting - Board for International Broadcasting Authorization Act, Fiscal Years 1986 and 1987 - Amends the Board for International Broadcasting Act of 1973 to authorize appropriations for the Board for International Broadcasting for FY 1986 and 1987. Earmarks a specified amount of such authorization for radio modernization. Expresses the sense of the Congress that Radio Free Europe/Radio Liberty, Incorporated (RFE/RL) should: (1) reestablish the procedure the primary emphasis of which is the daily oversight of RFE/RL program content and quality; (2) strengthen pre- and post-broadcast review and controls; and (3) improve its personnel management system. Expresses the sense of the Congress that the Board for International Broadcasting should: (1) periodically review and update the program policy guidelines of RFE/RL; and (2) ensure that the distinctions between the Board and RFE/RL remain clear and that these two entities continue to operate within the framework established by law.
Bill· HRH.R. 2069 (99th)open
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to establish an applicable test rate of nine percent for determining whether there is imputed interest in the case of seller-financed property. Permits a lower test interest rate of 80 percent of the Federal Treasury rate where such rates are lower than the nine percent test rate. Provides for a blended test rate for instances where the loan amount exceeds $4,000,000. Provides that in determining whether wraparound financing meets such testing rate, the test shall be applied to the net rate of interest on the seller's equity in the financing after deducting the existing third party financing. Authorizes the imputation of interest in seller-financed property sales of $4,000,000 or less of ten percent or 90 percent of the Federal Treasury rates, whichever is less, where the test interest rates have not been met. Allows for a blended imputed interest rate where the debt amount exceeds $4,000,000. Requires that all loan amounts from a single transaction or series of related transactions be aggregated for purposes of determining the loan amount. Provides that the imputed interest rules will not apply to assumptions of loans unless the terms and conditions of such debt obligations are modified in connection with the assumption. Repeals the provisions of the Code limiting the amount of interest expense a purchaser of personal use property may deduct for tax purposes. Excepts debt instruments arising from the sale or exchange of a residence from the imputed interest provisions where the obligor of the instrument uses the property as his other residence. Provides that the imputed interest rules shall not apply in the case of sales or exchanges of property where the borrowed amount does not exceed $4,000,000. Requires the interest on the obligation issued in connection with such sales or exchanges to be taken into account by both the buyer and the seller on the cash receipts and disbursement method of accounting unless both buyer and seller agree to use the accrual receipts and disbursement method of accounting.
Bill· HRH.R. 2084 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to provide that the amount of the charitable deduction allowable for motor vehicle expenses will be determined in the same manner Federal employees determine reimbursement for business use of their vehicles.
Bill· HRH.R. 2072 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to exclude from gross income $2,000 of the compensation received by an auxiliary police officer or volunteer fire fighter.
Bill· HRH.R. 2086 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to provide that the income tax deduction for charitable contributions to private foundations shall be the same as the deduction allowed for contributions to public charities (50 percent of taxpayer adjusted gross income). Eliminates distinctions between public charities and private foundations for purposes of the tax deduction for charitable contributions. Provides an exemption from the tax on taxable expenditures of a private foundation for grants to charitable organizations not exceeding a total of $15,000 for the calendar year. Permits the abatement of excise tax penalties imposed on private foundations relating to the initial tax on self-dealing. Redefines "members of family" for purposes of identifying disqualified persons under the private foundation self-dealing rules to include only the individual's spouse, ancestors, and children and the spouse of the individual's children. Classifies expenses for the production of gross investment income or for the management of investment property as qualifying distributions for purposes of calculating the undistributed income of a private foundation. Excludes capital gain income from the computation of net investment income for purposes of computing the tax on the investment income of private foundations.
Bill· HRH.R. 2083 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to increase the amount of employer-paid group-term life insurance premiums which may be excluded from the gross income of employees to that amount required to purchase $150,000 of such insurance.
Bill· HRH.R. 2082 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to exclude from gross income the gain from the sale or exchange of property if: (1) the taxpayer has owned and used such property as a principal residence for periods aggregating three years out of the five preceding years; or (2) the taxpayer has owned and used such property as a principal residence for periods aggregating 11 months out of the 12 preceding months. Removes the requirement that the taxpayer must be at least 55 years old. Limits the exclusion to one sale or exchange during the taxable year. Deletes the limitation on the amount of gain which can be excluded.
Bill· HRH.R. 2079 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to exclude from gross income a certain amount of the foreign source income of individuals 65 or older.
Bill· HRH.R. 2071 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to exclude from gross income amounts received from a public retirement system (pensions or annuities) which are attributable to services as a Federal, State, or local police officer or fire fighter.
Bill· HRH.R. 2085 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to provide that governments issuing tax-exempt securities must not have an income, franchise, or other tax on corporations which includes, as part of the tax base, items of income from sources outside the United States.
Bill· HRH.R. 2081 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to revise the definition of political contribution for purposes of the income tax credit to delete the requirement that such contribution further the candidacy of the recipient.
Bill· HRH.R. 2073 (99th)referred
United States · United States Congress · 17 April 1985
Amends the Internal Revenue Code to provide that early retirement benefits of a defined benefit plan established for police officers and fire fighters shall be limited by actuarial adjustments made by reference to age 55 (instead of age 62).
Bill· SS. 909 (99th)open
United States · United States Congress · 16 April 1985
SELF-Tax Plan Act of 1985 - Title I: Reduction of Individual and Corporate Tax Rates - Subtitle A: Reduction of Rates - Amends the Internal Revenue Code to provide lower income tax rates for individuals, estates, and trusts and to reduce the number of tax brackets to four (three for estates and trusts). Imposes a flat tax rate of 30 percent on the taxable income of corporations for the taxable year. Subtitle B: Repeals and Changes Related to Reduction in Rates - Repeals: (1) the tax tables for individuals; (2) the minimum tax for tax preferences; (3) the surplus accumulation rules for corporations; (4) the personal holding company rules; and (5) the graduated corporate tax rates. Applies the trust throwback rules only to foreign trusts. Disallows a taxpayer who was a student during the base period from using the income averaging provisions in determining their tax liability. Title II: Base Broadening - Subtitle A: Credits - Repeals the tax credits for: (1) household and dependent care; (2) the elderly and permanently and totally disabled; (3) residential energy; (4) contributions to candidates for public office; (5) possessions; (6) clinical testing expenses for certain drugs; (7) nonconventional sources for fuel production; (8) increasing research activities; (9) earned income; (10) investment; (11) alcohol used as fuel; (12) employee stock ownership; (13) certain depreciable property; and (14) employment of certain new employees. Establishes a per-country limitation on the foreign tax credit. Subtitle B: Exclusions - Repeals the exclusions for: (1) compensation for injuries and sickness; (2) contributions by employers to accident and health plans; (3) rental value of parsonages; (4) certain combat pay of members of the Armed Forces; (5) mustering-out payments for members of the Armed forces; (6) dividends received by individuals; (7) contributions to the capital of certain regulated public utilities; (8) meals or lodging furnished for the convenience of the employer; (9) amounts received under qualified group legal service plans; (10) gain from the sale of principal residence by an individual; (11) qualified transportation provided by the employer; (12) cafeteria plans; (13) certain cost-sharing payments; (14) educational assistance programs; (15) dependent care assistance programs; (16) dividend reinvestment in public utilities; (17) payments to encourage exploration, development, and mining for defense purposes; (18) earned income of citizens or residents of the United States living abroad; (19) exemption for certain allowances; (20) income from sources within the United States; (21) income from sources within Puerto Rico; and (22) patronage dividends and per-unit retain allocations for cooperatives. Includes in gross income amounts received as prizes and awards. Provides that the cost of group-term life insurance purchased for an employee shall be included in the income of the employee to the extent such cost exceeds the amount, if any, paid by the employee toward the purchase of such insurance. Includes in income any unemployment compensation and any governmental welfare or assistance benefit received by the taxpayer during the taxable year. Repeals the tax exemption for industrial development bonds and mortgage subsidy bonds. Repeals the tax exemption for private purpose bonds, the proceeds of which are used to finance loans to individuals for educational expenses, or by a tax-exempt organization. Limits the exclusion of scholarship and fellowship amounts to such amounts as are used for tuition and related expenses. Requires the inclusion in income of amounts received which represent payment for teaching, research, or other services in the nature of part-time employment required as a condition to receiving a scholarship or fellowship if not required of all candidates for a particular degree. Subtitle C: Deductions - Repeals the deduction for: (1) additional personal exemptions for the elderly and blind; (2) certain depreciable business assets; (3) amortization of certain railroad rolling stock; (4) amortization of railroad grading and tunnel bores; (5) tertiary injectants; (6) amortization of reforestation expenditures; (7) certain unused business credits; (8) two-earner married couples; (9) adoption expenses; (10) all consumer interest other than interest payments on residential property; and (11) State and local taxes. Terminates the tax exemption for deposits into and withdrawals from the capital construction fund under Section 607 of the Merchant Marine Act, 1936. Subtitle D: Adjustment to Basis; Changes in Certain Special Capital Gains Treatment Provisions - Provides for the adjustment to basis on the sale of an interest in land, property which would normally be included in inventory, or any other property which is not a financial asset to allow for inflation for purposes of determining gain or loss from the sale of such property. Sets forth rules governing the methods by which such adjustment are made. Allows corporations a deduction of 33 and one-half percent of the amount of the net capital gain from gross income. Repeals the alternative tax for corpoations. Denies the special capital gains treatment for recovery property and indexed assets. Provides that the limitation on capital losses shall be applied without regard to the distinctions between long-term and short-term losses on the sale of capital assets. Eliminates the distinction between short-term and long-term gains and losses based on holding periods. Repeals the provisions relating to: (1) the sale of land with unharvested crops; (2) the disposal of coal and domestic iron ore; (3) reduction in certain corporate preference items; (4) collapsible corporations; (5) gain or loss in the case of timber, coal, or domestic iron ore; (6) distributions of property; (7) collapsible partnerships; (8) defining capital assets; (9) property used in the trade or business and involuntary conversions; (10) sale or exchange of patents; (11) amortization in excess of depreciation; (12) gain from the sale of depreciable property between certain related taxpayers; (13) gain from the disposition of certain depreciable property; (14) gain on foreign investment company stock; (15) election by foreign investment companies to distribute income currently; (16) gain from certain sales or exchanges of stock in certain foreign corporations; (17) gain from certain sales or exchanges of patents, etc., to foreign corporations; (18) gain from disposition of certain depreciable realty; (19) gain from the disposition of farm land; (20) gain from the disposition of interest in oil, gas, or geothermal property; (21) gain from the disposition of property subject to cost-sharing payments; and (22) capital gain of subchapter S corporations. Title III: Capital Cost Recovery - Subtitle A: Accelerated Cost Recovery System Reform - Establishes a recovery account system for calculating the depreciation deduction for recovery property. Provides that all recovery property shall be placed in one of five different classes of property, each class having a separate class life (in number of years). Determines the deduction each year by applying the recovery percentage for each class of property to the balance in the recovery account for each class for such year. Provides for an annual inflation adjustment to each recovery account on the first day of each calendar quarter. Sets forth rules and guidelines for maintaining and operating each recovery account. Subtitle B: Other Changes - Repeals the tax provisions relating to: (1) intangible drilling and development costs in the case of oil and gas wells and geothermal wells; (2) depreciation; (3) amortization of pollution control facilities; (4) trademark and tradename expenditures; (5) depreciation or amortization of improvements made by a lessee on a lessor's property; (6) the election to expense certain depreciable business assets; (7) amortization of reforestation expenditures; (8) percentage depletion; (9) development expenditures; and (10) deduction and recapture of certain mining exploration expenditures. Provides that a taxpayer may elect to treat the amortizable basis of any certified pollution control facility as class two recovery property and add an amount equal to such basis to the recovery account which is established. Provides that expenditures to establish, maintain, or increase the circulation of a newspaper, magazine, or other periodical shall be treated as class one recovery property and added to the recovery account for such property. Provides that this rule shall not apply to any portion of the expenditure which is chargeable to the capital account if the taxpayer elects to treat such expenditure in that manner. Provides that any trademark or tradename expenditure paid or accrued during a taxable year beginning after December 31, 1955, may, at the election of the taxpayer, be treated as class two recovery property and added to the recovery account for such property. Provides that construction period interest and taxes which are paid or accrued shall be treated as class three recovery property and added to the recovery account for such property. Provides that any startup expenditures may, at the election of the taxpayer, be treated as class two recovery property and added to the recovery account for such property. Title IV: Miscellaneous Provisions - Subtitle A: Foreign Income - Requires a taxpayer who is a United States shareholder of stock in a controlled foreign corporation to include in gross income for the taxable year in which or with which such taxable year of the controlled foreign corporation ends the pro rata share of the corporation's earnings and profits for such year. Reduces this amount by any amount the taxpayer is required to include in income under the personal holding company tax provisions. Terminates the taxation of controlled foreign corporation income for taxable years beginning after December 31, 1985. Repeals the exemption of foreign trade income of a foreign sales corporation from taxation for taxable years beginning after December 31, 1985. Provides that no corporation shall be treated as a foreign sales corporation after December 31, 1985. Provides that the tax exemption for domestic international sales corporations shall not apply for taxable years beginning after December 31, 1985. Subtitle B: Miscellaneous Provisions - Reduces the amount of a corporation's tax liability by the amount of qualified dividends paid by the corporation during the taxable year on eligible qualified stock of the corporation. Requires that the stock be issued after December 31, 1985, be a new issue, be designated as such stock by the corporation, and not be treasury stock. Requires that the dividends be paid in cash, be pro rata, and not be in redemption or in partial or complete liquidation. Permits dividends on certain preferred stock to qualify for this provision. Requires a corporation to elect this treatment in the manner prescribed by the Secretary of the Treasury. Establishes certain recordkeeping requirements which the corporation must follow to maintain eligibility for this provision. Requires the number of shares of eligible stock to be reduced by the number of shares of stock in another corporation which the electing corporation acquires or by the number of any shares of its own stock which is acquired. Allows dividends paid after the close of the taxable year but before the 15th day of the third month following the close of such taxable year to be treated as paid during such taxable year. Provides that eligible dividends shall not be treated as a dividend for purposes of the deduction of dividends received by corporations. Provides that these rules shall not apply to: (1) insurance companies; (2) regulated investment companies; (3) corporations eligible for the possession tax credit; or (4) any corporation in which 20 percent or more of the dividends paid by the corporation are paid to a tax-exempt organization or an accumulation trust. Requires that taxpayers engaged in farming must compute their taxable income from farming (including timber) on the accrual method of accounting and must capitalize preproductive expenditures where the taxpayer has gross receipts exceeding $1,000,000. Provides that farming syndicates are subject to the accrual method of accounting without regard to the amount of their gross receipts. Provides that taxpayers subject to the accrual method of accounting in calculating farm income may not expense soil and water conservation expenditures, expenditures for fertilizer, or expenditures for clearing land. Makes modifications in the rules for determining tax liability under the completed contract method of accounting. Eliminates the exception for contracts completed within three years from the definition of "extended period long-term contract". Repeals the tax exemption for credit unions. Requires a corporation to recognize gain or loss on the distribution of property with respect to its stock in the same manner as if the property distributed had been sold at its fair market value. Provides that this rule does not apply with respect to any distribution of an obligation of the corporation. Provides that gain or loss shall be recognized to a corporation on the distribution of property in complete liquidation in the same manner as if the property distributed had been sold. Repeals the tax exemptions of: (1) voluntary employee beneficiary associations; (2) supplemental unemployment compensation benefit trusts; and (3) Black Lung trusts. Repeals the exclusion of real property from the at-risk rules. Eliminates the special bad debt reserves of financial institutions. Provides that certain employee benefits must be taken into account as income for purposes of computing FICA taxes, railroad retirement taxes, unemployment, and withholding taxes. Repeals the last-in, first-out inventory conformity requirement. Title V: Effective Dates - Sets forth the effective dates for the various provisions of this Act.
Bill· SS. 912 (99th)open
United States · United States Congress · 16 April 1985
Amends the Internal Revenue Code to increase the amount of household and dependent care services for which an income tax credit is allowable. Increases such amount from 30 percent of such expenses reduced by one percent for each $2,000 of adjusted gross income in excess of $10,000 to 40 percent of such expenses reduced by two-thirds of one percent for each $1,000 of adjusted gross income in excess of $10,000.
Bill· SS. 919 (99th)open
United States · United States Congress · 16 April 1985
Amends the Securities Exchange Act of 1934 to authorize appropriations for the Securities and Exchange Commission for FY 1986 through 1988.
Bill· SS. 911 (99th)referred
United States · United States Congress · 16 April 1985
National Security Programs Authorization Act for Fiscal Years 1986 and 1987 - Title I: National Security Programs - Authorizes appropriations for the Department of Energy (DOE) for FY 1986 for plant and capital equipment and operating expenses in carrying out national security programs in the following areas: (1) weapons activities; (2) materials production; (3) defense waste and byproducts management; (4) verification and control technology; (5) nuclear safeguards and security; (6) security investigations; and (7) naval reactors development. Title II: General Provisions - Prohibits the use of funds authorized under this Act where the costs of the program exceed 105 percent of the program authorization or the costs exceed by more than $10,000,000 the amount authorized by this Act, whichever is the lesser. Prohibits the use of funds authorized by this Act for programs which have not been presented to or requested of the Congress unless the Secretary of Energy transmits to the appropriate committees a full and complete statement of the action proposed. Authorizes the Secretary to carry out any general plant project only if the maximum estimated cost of the project does not exceed $1,200,000. Sets forth procedures for the approval of projects which exceed by more than 25 percent their estimated cost, and exempts from such procedures any project which has an estimated cost of less than $5,000,000. Allows the transfer of funds from specified projects to other Government agencies for the performance of work for which the appropriation is made. Authorizes the Secretary to perform construction design services for construction projects in support of national security programs. Permits funds to remain available until expended if so specified in an appropriation Act. Title III: Authorization of Appropriations - Authorizes appropriations for programs under this Act for FY 1987 to DOE, such funds not to be available before FY 1987.
Bill· HRH.R. 2044 (99th)reported
United States · United States Congress · 16 April 1985
Amends the Arms Control and Disarmament Act to increase the authorization of appropriations for FY 1985 for the Arms Control and Disarmament Agency.
Bill· HRH.R. 2060 (99th)referred
United States · United States Congress · 16 April 1985
Amends the Internal Revenue Code to allow individual taxpayers an income tax deduction from gross income for commuting expenses incurred on public mass transit, including rail and bus service. Limits the amount of such deduction to $250 per year.
Bill· HRH.R. 2055 (99th)referred
United States · United States Congress · 16 April 1985
Amends the Internal Revenue Code to allow taxpayers to value excess inventory at its net realizable value. Eliminates the qualification requirement for the last-in, first-out (LIFO) method of accounting that a taxpayer use no inventory method for financial reporting or credit purposes other than the LIFO method. Allows a taxpayer who adopts the LIFO method to spread increases in taxable income attributable to such change over a ten-year period.
Bill· HRH.R. 2054 (99th)referred
United States · United States Congress · 16 April 1985
Amends the Internal Revenue Code to exempt from the excise tax on communications services any telephone facilities designed for individuals who are deaf or hearing impaired.
Bill· HRH.R. 2057 (99th)referred
United States · United States Congress · 16 April 1985
Amends the Internal Revenue Code to repeal the option to expense intangible drilling and development costs in the case of oil, gas, and geothermal wells. Repeals the percentage depletion allowance for such wells. Repeals provisions of the windfall profit tax which: (1) exempt royalty oil for 1982 and thereafter; (2) reduce the tax imposed on newly discovered oil; and (3) exempt independent producer stripper well oil.
Resolution· HRESH.Res. 128 (99th)passed
United States · United States Congress · 16 April 1985
Sets forth the rule for the consideration of H.R. 1617 (National Bureau of Standards funding).
Resolution· HRESH.Res. 129 (99th)passed
United States · United States Congress · 16 April 1985
Sets forth the rule for the consideration of H.R. 1210 (National Science Foundation funding).
Resolution· HCONRESH.Con.Res. 117 (99th)referred
United States · United States Congress · 16 April 1985
Expresses the sense of the Congress that no limitation should be placed on the Federal income tax deduction for interest paid on a residential mortgage.
Bill· SS. 903 (99th)open
United States · United States Congress · 15 April 1985
National Science Foundation Authorization Act for Fiscal Year 1986 - Authorizes appropriations to the National Science Foundation (NSF) for FY 1986. Provides that such funds authorized for FY 1986 will be available for the following categories: (1) advanced scientific computing; (2) astronomical, atmospheric, earth, and ocean sciences; (3) biological, behavioral, and social sciences; (4) engineering; (5) mathematical and physical sciences; (6) scientific, technological, and international affairs; (7) program development and management; (8) science and engineering education; and (9) the U.S. Antarctic program. Requires that a specified amount from such funds be reserved for support of studies on ethics and values in science and technology. Limits the amounts from appropriations authorized under this Act which may be used for: (1) consultation, representation, or other extraordinary expenses; and (2) expenses incurred outside the United States. Permits transfers of funds among categories as long as such transfers do not exceed ten percent of authorized amounts. Permits transfers in excess of ten percent if: (1) the Director of NSF submits a written explanation of the proposed transfer to specified congressional officers and committees; and (2) 30 calendar days have passed after such submission. Amends the National Science Foundation Act of 1950 to delete certain provisions relating to notification of meetings to members of the National Science Board (the Board). Provides that the Director of NSF may make contracts, grants, and other arrangements only with the prior approval of the Board or under authority delegated by the Board and subject to such conditions as the Board may specify (thus removing the Director's current authority to make grants, contracts, or arrangements involving specified limited amounts under certain conditions without the Board's prior approval). Amends such Act and other specified provisions of Federal law to remove the requirement that Assistant Directors of NSF be appointed by the President. Revises provisions for special commissions to provide that special commissions: (1) shall consist of such members as the Board considers appropriate; and (2) may be established to study and make recommendations to NSF on issues relating to research and education in science and engineering. Authorizes NSF to indemnify grantees, contractors, and subcontractors associated with the Ocean Drilling Program (thus making permanent a temporary authority under current law which would expire at the end of FY 1986). Removes a prohibition against NSF officers or employees acquiring, retaining, or transferring patent rights on inventions which they may make or produce in connection with performing their assigned activities and which are directly related to the subject matter thereof. Removes certain prohibitions against outside employment and activities by the Director, the Deputy Director, or any Assistant Director of NSF and against their holding any office in or acting in any capacity for any organization with which NSF makes any grant, contract, or other arrangement. Prohibits disclosure to the public of: (1) specified information supplied to NSF or to an NSF contractor by an industrial or commercial organization, unless such information has been transformed into statistical or aggregate formats that do not allow the identification of the supplier; and (2) the names of organizations supplying such information. Repeals specified provisions of the National Science Foundation Authorization Act Fiscal Year 1978 which require financial or other conflict of interest disclosure statements by NSF officials and employees. Amends the National Science Foundation Authorization, 1976 to remove a limitation on the monetary amount and the duration of the grant included in the Alan T. Waterman Award. Provides that the Board will periodically establish the amounts and terms of such grants. Repeals provisions of the National Science Foundation Authorization Act, Fiscal Year 1978 which require establishment of a Resource Center for Science and Engineering at an educational institution enrolling a substantial number of minority and/or low-income students. Amends the National Science Foundation Act of 1950 and the National Science Foundation Authorization Act, 1976 the National Science Foundation Authorization and Science and Technology Equal Opportunities Act to revise provisions for NSF functions relating to engineering research and education. Replaces specified references to "technology" with references to "engineering." Directs NSF to design, establish, and maintain a data collection and analysis capability to identify and assess the research needs of universities. Requires documentation of the needs of universities, by major field of science and engineering, for construction and modernization of research laboratories, including fixed equipment and major research equipment. Requires collection and analysis of university expenditures for construction and modernization of research facilities, the sources of funds, and other appropriate data. Directs NSF, in conjunction with appropriate Federal agencies, to conduct the necessary surveys every two years and report the results to the Congress. Requires that the first report be submitted to the Congress by September 1, 1986.
Bill· HRH.R. 2040 (99th)reported
United States · United States Congress · 15 April 1985
Nuclear Waste Fund Authorization Act, Fiscal Years 1986 and 1987 - Authorizes appropriations to the Department of Energy for expenditure from the Nuclear Waste Fund for the following activities: (1) a first repository development; (2) a second repository development; (3) monitored retrievable storage; (4) transportation and systems integration; (5) transfers to the general fund of the Treasury to offset certain appropriations made to the Nuclear Regulatory Commission (the Commission); and (6) program management. Prohibits such authorizations from being used for expenditures relating to: (1) research and development activities regarding disposal of high-level radioactive waste and spent nuclear fuel; (2) implementation of a certain monitored retrievable storage proposals until the Congress specifically authorizes the construction of a monitored retrievable storage facility; or (3) development of surface facilities for packaging, treatment, or storage of spent nuclear fuel other than at the site of a repository or civilian nuclear power reactor. Directs the Secretary of Energy to transfer from the Nuclear Waste Fund to the Treasury general fund the amounts appropriated to the Commission and certified by such Commission for expenditure in FY 1986 and 1987. Prescribes guidelines under which the Secretary of Energy shall issue revised standards regarding fee payments for electricity generated by civilian nuclear power reactors and sold before April 7, 1983. Directs the Secretary to amend certain contracts to ensure compliance with such revised standards. Directs the Secretary to evaluate a range of possible schedules for high-level radioactive waste acceptance and for repository disposal of spent nuclear fuel. Prescribes assessment guidelines for such evaluation. Prohibits the Secretary from obligating amounts from the Nuclear Waste Fund to incorporate nuclear waste acceptance schedules in high-level radioactive waste disposal contracts until: (1) the submission of a comprehensive report of such evaluation has been submitted to the Congress; and (2) a 90-day period of continuous congressional session has expired following the submission of such report.
Bill· HRH.R. 2041 (99th)reported
United States · United States Congress · 15 April 1985
Civilian Energy Programs Authorization for Fiscal Years 1986 and 1987 - Title I: Research and Development - Authorizes appropriations for FY 1986 for Department of Energy civilian research and development programs relating to: (1) general science and research activities; (2) energy supply research and development; (3) the Geothermal Resources Development Fund; (4) fossil energy research and development; (5) energy conservation; and (6) defense nuclear energy programs. Authorizes appropriations for construction, acquisition, and modification of facilities including land acquisition and acquisition and fabrication of capital equipment not related to construction for: (1) general science and research activities; (2) energy supply research and development; (3) fossil energy and development; (4) energy conservation; and (5) defense nuclear energy programs. Title II: Conservation, Regulation, and Information - Authorizes appropriations for FY 1986 for the following appropriations accounts: (1) energy conservation; (2) economic regulation; (3) emergency preparedness; (4) Federal Energy Regulatory Commission; and (5) Energy Information Administration. Title III: Power Marketing Administration - Authorizes appropriations for FY 1986 for the following operations and maintenance accounts: (1) Southeastern Power Administration; (2) Southwestern Power Administration; and (3) Western Area Power Administration. Title IV: Other Activities - Authorizes appropriations for FY 1986 for: (1) uranium supply and enrichment activities; (2) departmental administration; (3) the Nuclear Waste Fund; (4) energy supply research and development; and (5) energy conservation. Authorizes appropriations for construction, acquisition, or modification of facilities, including land acquisition, and for acquisition and fabrication of capital equipment not related to construction for: (1) uranium supply and enrichment activities; (2) departmental administration; and (3) energy supply research and development. Title V: Fiscal Year 1987 Authorization - Authorizes appropriations for FY 1987 to implement civilian energy programs. Title VI: Miscellaneous Provisions - Repeals certain requirements under the Omnibus Budget Reconciliation Act of 1981 relating to the Department of Energy Budget for FY 1983 and 1984. Amends the Department of Energy Organization Act to provide substitutes for certain ethnic descriptions.
Bill· HRH.R. 2036 (99th)referred
United States · United States Congress · 15 April 1985
Establishes the Commission on Tax Revision to study and investigate the provisions of the Internal Revenue Code and other Federal laws relating to taxation and revenue. Requires that such study and investigation include specific consideration of: (1) general policy problems; (2) specific items of the tax structure; (3) the tax treatment of specific types of organizations; and (4) specified comprehensive areas of the tax structure. Requires the Commission to submit its findings and recommendations within ten days after the second session of the 99th Congress is convened. Terminates the Commission 90 days after submission of its report to the Congress.
Bill· HRH.R. 2039 (99th)referred
United States · United States Congress · 15 April 1985
Amends the Internal Revenue Code to increase the amount of the deductions allowed for personal exemptions from $1,000 to $2,600.
Bill· HRH.R. 2031 (99th)referred
United States · United States Congress · 15 April 1985
Federal Tax Delinquency Amnesty Act of 1985 - Provides for a one-time amnesty from criminal and civil tax penalties for a taxpayer who: (1) files a written statement with specified information concerning any underpayment of tax; (2) pays the amount of such underpayment when filing the statement; and (3) within 30 days of notification of 50 percent of the amount of interest payable on any tax delinquent amount, pays the amount of such interest or delinquency. Permits installment payments in certain cases. Defines the amnesty period as the period from July 1, 1985, to December 31, 1985, or the six-month period beginning the first July 1 after the enactment of this Act. Applies such amnesty to all payments relating to tax years ending by December 31, 1983, or taxable events occurring before January 1, 1984. Disallows such amnesty where: (1) the taxpayer was contacted before a statement was filed; (2) there was fraud in seeking amnesty; (3) a criminal investigation is pending; or (4) the income involved is illegal source income. Authorizes appropriations to administer such amnesty program and to employ 3,000 additional Internal Revenue Service agents. Increases criminal and civil tax penalties by 50 percent.
Bill· SS. 886 (99th)open
United States · United States Congress · 4 April 1985
Hazardous Waste Reduction Act of 1985 - Amends the Internal Revenue Code to impose a tax on the receipt of: (1) taxable hazardous waste in any qualified hazardous waste management unit; and (2) taxable hazardous waste for export or for disposal in the ocean pursuant to a permit. Provides that the tax rate for all forms of land and ocean waste disposal, except underground injection wells, shall be $20 for each ton of hazardous waste. Provides that the tax rate for each ton of hazardous waste placed in underground injection wells shall be five dollars per ton. Authorizes the Secretary of the Treasury to increase the rates of tax on such hazardous waste where the tax revenue falls below projections for any year. Requires the tax to be paid by the owner or operator of the qualified waste management unit at which the taxable waste is received or by the person exporting the taxable hazardous waste or the person holding the permit for transport for ocean disposal. Requires the tax to be paid at the close of the calendar quarter during which the taxable hazardous waste became subject to tax. Imposes a tax of $20 per ton on hazardous waste placed in a facility other than a qualified hazardous waste management unit or pursuant to a permit for export or ocean dumping. Makes the person placing the hazardous material in the facility or location liable for the tax. Provides that such tax will not apply with respect to small quantity generator of waste, or with respect to the placement of taxable hazardous waste in any facility, vehicle, or location if such placement is not required to comply with permit, interim status, or manifest requirement under the Solid Waste Disposal Act. Provides that the tax does not apply to the placement of taxable hazardous waste in a vehicle which is required to transport such taxable hazardous waste. Exempts from the tax waste removed from a Superfund site or a closed interim status facility or waste required to be studied. Exempts from the tax any qualified wastewater treatment facilities. Provides that the exemption for qualified wastewater treatment facilities shall not apply the after November 8, 1988, unless the facility is in compliance with certain minimum technological requirements or meets certain interim status surface impoundments requirements. Permits a tax credit where the taxable hazardous waste is moved from one unit or facility to another. Provides that where the taxable waste is moved from a surface impoundment to an underground injection well, the credit is the differnce between the tax on the surface impoundment and the tax on the underground injection. Permits a tax credit for all waste rendered nonhazardous by reason of treatment or conversion within 12 months of receipt at the unit or facility. Prohibits the tax credit for treatment or conversion at a qualified wastewater treatment facility. Prohibits the tax credit for land treatment. Provides that the tax credit will not apply to any treatment or conversion which violates any requirement of Federal or State law relating to the management of hazardous taxable waste. Provides that this tax shall apply for the period from January 1, 1986, through FY 1990. Requires every person subject to this tax to keep records, render such statements, make such returns, and comply with such rules and regulations as the Secretary of the Treasury may require. Provides that the revenues from this tax shall be deposited in the Hazardous Substance Superfund. Requires the Secretary of the Treasury to make various reports to the Congress concerning different aspects of the tax on hazardous waste disposal.
Bill· SS. 887 (99th)open
United States · United States Congress · 4 April 1985
Amends the Internal Revenue Code to extend to January 1, 1989, the termination date for the deduction for expenses incurred in connection with the elimination of architectural and transportation barriers to the handicapped and the elderly.
Bill· SS. 896 (99th)open
United States · United States Congress · 4 April 1985
Amends the Internal Revenue Code to allow a defined contribution retirement plan of a rural electric cooperative to include a qualified cash or deferred arrangement.
Bill· HRH.R. 2023 (99th)open
United States · United States Congress · 4 April 1985
Amends the Internal Revenue Code to revise the corporate alternative minimum tax. Imposes an alternative minimum tax on corporations equal to the excess of: (1) 20 percent of the corporate alternative minimum taxable income which exceeds $100,000; over (2) the regular tax for the taxable year. (Present law imposes an alternative minimum tax on corporations equal to 15 percent of the amount by which the sum of tax preference items exceeds the greater of: (1) $10,000; or (2) the regular tax deduction for the taxable year.) Disallows any tax credits (other than the foreign tax credit) to be taken against the corporate alternative minimum tax. Defines "corporate alternative minimum taxable income" as taxable income: (1) reduced by the alternative net operating loss deduction; and (2) increased by the amount of tax preference items. Provides that all tax preference items shall apply to all corporations. (Present law applies certain tax preference items only to personal holding companies.) Revises the method of calculating specified tax preference items. Includes as tax preference items: (1) tax-exempt interest; (2) exempt foreign trade income; and (3) deposits and withdrawals from capital construction funds.
Bill· HRH.R. 2018 (99th)open
United States · United States Congress · 4 April 1985
Hazardous Waste Reduction Act of 1985 - Amends the Internal Revenue Code to impose a tax on the receipt of: (1) taxable hazardous waste in any qualified hazardous waste management unit; and (2) taxable hazardous waste for export or for disposal in the ocean pursuant to a permit. Provides that the tax rate for all forms of land and ocean waste disposal, except underground injection wells, shall be $20 for each ton of hazardous waste. Provides that the tax rate for each ton of hazardous waste placed in underground injection wells shall be five dollars per ton. Authorizes the Secretary of Treasury to increase the rates of tax on such hazardous waste where the tax revenue falls below projections for any year. Requires the tax to be paid by the owner or operator of the qualified waste management unit at which the taxable waste is received or by the person exporting the taxable hazardous waste or the person holding the permit for transport for ocean disposal. Requires the tax to be paid at the close of the calendar quarter during which the taxable hazardous waste became subject to tax. Imposes a tax of $20 per ton on hazardous waste placed in a facility other than a qualified hazardous waste management unit or pursuant to a permit for export or ocean dumping. Makes the person placing the hazardous material in the facility or location liable for the tax. Provides that such tax will not apply with respect to small quantity generator waste, or with respect to the placement of taxable hazardous waste in any facility, vehicle, or location if such placement is not required to comply with permit, interim status, or manifest requirement under the Solid Waste Disposal Act. Provides that the tax does not apply to the placement of taxable hazardous waste in a vehicle which is required to transport such taxable hazardous waste. Exempts from the tax waste removed from a Superfund site or a closed interim status facility or waste required to be studied. Exempts from the tax qualified wastewater treatment facilities. Provides that the exemption for qualified wastewater treatment facilities shall not apply after November 8, 1988, unless the facility is in compliance with certain minimum technological requirements or meets certain interim status surface impoundments requirements. Permits a tax credit where the taxable hazardous waste is moved from one unit or facility to another. Provides that where the taxable waste is moved from a surface impoundment to an underground injection well, the credit is the difference between the tax on the surface impoundment and the tax on the underground injection. Permits a tax credit for all waste rendered nonhazardous by reason of treatment or conversion within 12 months of receipt at the unit or facility. Prohibits the tax credit for treatment or conversion at a qualified wastewater treatment facility. Prohibits the tax credit for land treatment. Provides that the tax credit will not apply to any treatment or conversion which violates any requirement of Federal or State law relating to the management of hazardous taxable waste. Provides that this tax shall apply for the period from January 1, 1986, through September 30, 1990. Requires every person subject to this tax to keep records, render such statements, make such returns, and comply with such rules and regulations as the Secretary of the Treasury may require. Provides that the revenues from this tax shall be deposited in the Hazardous Substance Superfund. Requires the Secretary of the Treasury to make various reports to the Congress concerning different aspects of this tax on hazardous waste disposal.
Bill· HRH.R. 1984 (99th)referred
United States · United States Congress · 4 April 1985
Limits the amounts available, from Department of Defense authorizations for military personnel accounts from FY 1986, for obligation for military basic pay and payments for accrued retired pay benefits within the Army, Navy, and Air Force. Requires the Secretary of Defense to report to the Congress on proposed changes in the military nondisability retirement system. Requires certain accounting methods to be used in determining costs and savings from any legislative changes in the military retirement system during FY 1985 or 1986.
Bill· HRH.R. 1994 (99th)referred
United States · United States Congress · 4 April 1985
Amends the Internal Revenue Code to provide that the extent of faculty supervision or participation with respect to the performance of teaching, research, or other services by individuals who are candidates for a degree shall not be relevant in determining whether such activities are required as a condition for receiving a degree for purposes of excluding amounts received for such services from gross income pursuant to provisions allowing a tax exclusion for scholarship and fellowship grants. Provides that all degree candidates do not have to perform substantially identical activities with respect to teaching, research, or other services for such activities to be found to be a condition for receiving a degree.
Bill· HRH.R. 2001 (99th)referred
United States · United States Congress · 4 April 1985
Renewable Energy and Conservation Transition Act of 1985 - Title I: Extension of Business Energy Credits - Amends the Internal Revenue Code to extend the energy investment tax credit for solar energy property from 1985 to 1990. Sets the amount of such credit during such period at 15 percent for low temperature solar property and 25 percent for all other solar property. Extends the energy investment tax credit for wind property from 1985 to 1988. Sets the amount of such credit at: (1) ten percent during 1986 and 1987; and (2) five percent during 1988. Extends the energy investment tax credit for geothermal property and biomass property from 1985 to 1988. Extends the energy investment tax credit for ocean thermal property from 1985 to 1990. Revises the definition of "solar property" for purposes of such tax credit. Sets forth special rules for geothermal equipment to qualify for such credit. Title II: Affirmative Commitment Rule to Extend the Business Credit for Certain Long-Term Projects - Extends the time period during which an affirmative commitment must be made in order for long-term energy projects to be eligible for the energy investment tax credit. Allows such extension: (1) from 1990 to 1993 for solar energy property; (2) from 1988 to 1990 for geothermal energy property; and (3) from 1985 to 1990 for hydroelectric generating property. Title III: Extension of Residential Energy Credits - Extends the residential energy income tax credit for solar renewable energy property from 1985 to 1990. Phases out such credit over such period of time. Provides that solar hot water systems and active space heating systems must meet certain additional standards in order to qualify for such credit. Extends the residential energy income tax credit for wind renewable energy property from 1985 to 1988. Phases out such credit over such period of time. Extends the residential energy income tax credit for geothermal renewable energy property from 1985 to 1988. Phases out such credit over such period of time. Revises the definition of geothermal deposits for purposes of such credit. Revises the definition of energy conservation expenditures for purposes of the residential energy income tax credit to limit the amounts taken into account to $700. Limits the energy conservation income tax credit to taxpayers with an adjusted gross income of less than $30,000. Title IV: Effective Date - Sets forth the effective date of this Act.
Bill· HRH.R. 1987 (99th)referred
United States · United States Congress · 4 April 1985
Excludes from gross income, for income tax purposes, certain work-related sick pay received by New York City police officers and firefighters.
Bill· SS. 874 (99th)open
United States · United States Congress · 3 April 1985
Amends the Internal Revenue Code to increase the excise tax on cigarettes from: (1) $8 to $16 for small cigarettes; and (2) $16.80 to $33.60 for large cigarettes. Imposes a floor stock excise tax on small and large cigarettes. Transfers revenues raised by such additional taxes to the Federal Hospital Insurance Trust Fund (Medicare).
Bill· SS. 855 (99th)open
United States · United States Congress · 3 April 1985
Provides, for taxable years prior to 1985, that rural letter carriers are permitted to compute the amount of the deduction for the use of their automobile in performing services involving the collection and delivery of mail on a rural route by: (1) using the amount received as equipment maintenance allowances from the United States Postal Service; or (2) using the form entitled "Worksheet for Use of Rural Carrier in Reporting Equipment Allowance and Claiming Transportation Expense Deduction." Provides, for taxable years beginning after 1984, that rural letter carriers are permitted to compute the amount of their deduction for use of their automobile in performing such services: (1) by using a standard mileage rate for all such miles of such use equal to 150 percent of the basic standard rate; or (2) by calculating the equipment allowance deduction equal to the operating expenses. Removes the 50 percent of business use limitation contained in the Internal Revenue Code for rural letter carriers who claim the investment tax credit and the depreciation deduction for their automobiles.
Bill· SS. 856 (99th)open
United States · United States Congress · 3 April 1985
Fairness for Adopting Families Act - Amends the Internal Revenue Code to remove the dollar limitation on the income tax deduction for adoption expenses. Expands such deduction to include all reasonable and necessary expenses which do not violate a Federal or State law and which are directly related to a legal adoption of any child if such adoption has been arranged by a State or local agency, a nonprofit agency, or through a private placement. (Current law restricts expenses to those incurred in the adoption of a child with special needs.) Disallows such deduction for expenses in connection with artificial insemination, embryo transplantation, in vitro fertilization, or surrogate parenthood. Disallows such deduction for expenses incurred for travel outside the United States unless such travel is required as a condition of the child's adoption, to assess the health and status of the child, or to escort the child back to the United States. Excludes from an employee's gross income any amounts paid on his behalf by an employer pursuant to an adoption assistance program.
Bill· SS. 877 (99th)open
United States · United States Congress · 3 April 1985
Amends the Internal Revenue Code to allow married individuals to compute the amount of their income tax deduction for contributions to retirement savings accounts on the basis of the earned income of their spouses. Treats alimony payments as compensation for purposes of this deduction.
Bill· SS. 879 (99th)referred
United States · United States Congress · 3 April 1985
Alternate Strategic Defense Initiative Authorization Act for Fiscal Year 1986 - Provides that funds authorized under this Act for the Strategic Defense Initiative and for advanced strategic missile systems for FY 1986 are in lieu of any other authorization for such fiscal year for such purposes. Authorizes appropriations to the defense agencies for FY 1986 for research, development, test, and evaluation in connection with the Strategic Defense Initiative under the following programs: (1) Surveillance, Acquisition, and Tracking Program; (2) Directed Energy Weapons Program; (3) Kinetic Energy Weapons Program; (4) Hard Point Defense Technology Development Program; (5) Systems Concepts and Battle Management Program; (6) Threat Analysis Program; (7) Survivability, Lethality, and Key Technologies Program; and (8) Management Headquarters of the Strategic Defense Initiative. Authorizes appropriations to the Air Force for FY 1986 for research, development, test, and evaluation in connection with the Advanced Strategic Missile Systems program. Directs the Threat Analysis Program to be carried out as part of the Air Force Advanced Strategic Missile Systems Program, and requires the Secretary of the Air Force to report results of research conducted under such program to the Congress and other specified officials. Establishes in the Department of Defense (DOD) the Strategic Defense Evaluation Panel (the Panel). Requires the Panel to report to the Congress annually, with the first such report due by April 1, 1986. Requires certain Strategic Defense Initiative projects to be designated as major defense acquisition programs for purposes of reporting requirements. Directs the Secretary of Defense, simultaneously with the submission of the annual budget presentation materials to the Congress for each of FY 1987 through 1991, to report to specified congressional committees on all DOD programs which constitute or relate to the Strategic Defense Initiative, Specifies information to be included in such report. Requires the Director of the Congressional Budget Office to conduct a study on the impact of proposed expenditures of the Strategic Defense Initiative programs for FY 1986 through 1991, and to submit the results of such study to the Congress within 180 days after enactment of this Act. Requires the Joint Economic Committee to conduct a similar study, with the same reporting date. Reaffirms the commitment of the Congress to the 1972 U.S. - Soviet Treaty on the Limitation of Anti-Ballistic Missile Systems and to full compliance with such treaty.
Bill· SS. 885 (99th)referred
United States · United States Congress · 3 April 1985
Prohibits the obligation of funds during FY 1985 and 1986 for the testing of anti-satellite weapons against objects in space unless the President certifies to the Congress certain findings on actions taken by the Soviet Union.
Bill· SS. 861 (99th)open
United States · United States Congress · 3 April 1985
Amends the Internal Revenue Code to permit U.S. businesses with operations in foreign countries to treat all of their domestic research and experimental expenditures as deductions against U.S. source income. (Current IRS regulations require the allocation of a portion of such expenses against foreign source income.)