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451 records in US in 2004
United States · United States Congress · 1 April 2004
Simple Tax for Seniors Act - Allows eligible seniors (or their spouses in the case of a joint return) with Social Security and pension income to use new Form 1040SR (similar to Form 1040EZ) to file their Federal income tax returns without regard to the amount of their taxable interest or other taxable income.
United States · United States Congress · 1 April 2004
Assistance to Firefighters Grant Reauthorization Act of 2004 - Amends the Federal Fire Prevention and Control Act of 1974 to modify provisions regarding firefighter assistance to make the Administrator of the United States Fire Administration (currently, the Director of the Federal Emergency Management Agency) responsible for such assistance. Authorizes the Administrator to make grants to volunteer emergency medical service squads and to provide assistance for firefighter safety research and development. Includes within authorized uses of grants the funding of such squads that are not affiliated with a fire department, hospital, or for-profit entity. Makes specified funds available for research to improve firefighter health and life safety. Grants priority for certain earmarked funds to organizations that focus on prevention of injuries to high risk groups from fire, as well as research programs that demonstrate the potential to improve firefighter safety. Allows the Administrator to provide assistance only if the applicant agrees to match with an equal amount of non-Federal funds 20 (currently 30) percent of the assistance received for any fiscal year. Modifies grant recipient limitations. Directs the Administrator to: (1) convene an annual meeting of non-Federal fire service experts to recommend criteria for awarding grants and necessary administrative changes; (2) publish each year in the Federal Register guidelines that describe the grant application process and award criteria; (3) appoint fire service personnel to conduct peer review of applications; and (4) re-conduct a study to define the current role and activities associated with fire services.
United States · United States Congress · 1 April 2004
Medical Malpractice Relief Act of 2004 - Amends the Internal Revenue Code to allow a business tax credit for taxable years beginning in 2004 or 2005 for expenditures for medical professional malpractice insurance. Allows a credit for: (1) 20 percent of the malpractice insurance expenditures of a physician who practices in any surgical specialty or subspecialty, emergency medicine, obstetrics, or anesthesiology or who does intervention work which is reflected in medical malpractice insurance expenditures; (2) ten percent of such expenditures of a physician who practices in general medicine, allergy, dermatology, pathology, or other specialty; and (3) 15 percent of such expenditures of any hospital, clinic, or long-term care provider. Limits the amount of expenditures that may be taken into account to twice the average of costs of medical malpractice insurance for similarly situated health care providers, as determined by the Secretary of Health and Human Services. Directs the Secretary, acting through the Administrator of the Health Resources and Services Administration, to make grants to certain non-profit hospitals, clinics, and long-term care providers to assist such entities in defraying their medical malpractice insurance expenditures. Limits the amount of such grants to 15 percent of the medical malpractice insurance expenditures incurred by such entities in any year.
United States · United States Congress · 1 April 2004
Amends the Internal Revenue Code to permit certain amendments, waivers, or other modifications to mortgages held by a Real Estate Mortgage Investment Conduit (REMIC) or a Grantor Trust without disqualifying such mortgages as REMIC or Grantor Trust mortgages. Permits amendments, waivers, or modifications that do not: (1) extend the final maturity date of a mortgage; (2) increase the outstanding balance of the mortgage; (3) result in the release of an interest in real property securing the mortgage; or (4) result in an instrument or property right which is not debt for Federal income tax purposes. Exempts such amendments, waivers, or modifications from the penalty for prohibited transactions.
United States · United States Congress · 1 April 2004
Publish What You Pay Act of 2004 - Directs the Securities and Exchange Commission to require certain securities issuers to disclose in their annual and quarterly reports their aggregate payments of $250,000 or greater made in connection with the securing of exploration, development, exploitation, extraction, and production rights for natural resources (oil, gas, and minerals) to any foreign government or other public entity of a foreign country, including taxes, royalties, fees, and other amounts paid in such connection. Authorizes the Attorney General to bring a civil action in Federal district court to enjoin an act or practice in violation of this Act. Establishes civil and criminal penalties for violations of this Act.
United States · United States Congress · 31 March 2004
Amends the Internal Revenue Code to create a tax-exempt trust to be known as a "Lifetime Savings Account" for the benefit of an individual taxpayer or his beneficiaries. Allows an individual taxpayer to make cash contributions up to $5,000 each year to such trusts. Prohibits: (1) investment of trust assets in life insurance contracts; and (2) commingling of trust assets with any other property except in a common trust or investment fund. Provides for an annual cost-of-living adjustment to the contribution amount. Excludes from gross income distributions from such a trust. Allows tax-free rollovers to a trust from: (1) another account of the trust beneficiary if the rollover from such other account is completed within 60 days of the date of distribution; (2) from a Lifetime Savings Account of the spouse of the trust beneficiary if the rollover from the spouse's account is completed within 60 days of the date of distribution; (3) from a qualified state tuition plan or a Coverdell education savings account before January 1, 2006.
United States · United States Congress · 31 March 2004
Trade Adjustment Assistance Equity for Service Workers Act of 2004 - Amends the Trade Act of 1974 to extend trade adjustment assistance (TAA) to workers in a service sector firm or its subdivision or public agency. Revises group eligibility requirements for TAA to include: (1) a shift, by a public agency to a foreign country in provision of services, like or directly competitive with services which are provided by the workers' firm, subdivision, or public agency; and (2) the situation where the workers' firm, subdivision, or public agency obtains or is likely to obtain such services from a foreign country. Requires the Secretary of Labor to certify as eligible to apply for TAA any adversely affected secondary workers in a service sector firm or its subdivision or public agency. Specifies criteria for determination of the existence of increased imports of like or directly competitive articles or services. Increases from $220 million to $440 million the amount of fiscal year payments for training of adversely affected workers under the Act. Authorizes the Secretary of Labor to provide technical assistance for the establishment of industrywide programs for new service development. Modifies the trade monitoring system to include imports of services.
United States · United States Congress · 31 March 2004
Amends the Internal Revenue Code to create a tax-exempt trust to be known as a "Lifetime Savings Account" for the benefit of an individual taxpayer or his beneficiaries. Allows an individual taxpayer to make cash contributions up to $5,000 each year to such trusts. Prohibits: (1) investment of trust assets in life insurance contracts; and (2) commingling of trust assets with any other property except in a common trust or investment fund. Provides for an annual cost-of-living adjustment to the contribution amount. Excludes from gross income distributions from such a trust. Allows tax-free rollovers to a trust from: (1) another account of the trust beneficiary if the rollover from such other account is completed within 60 days of the date of distribution; (2) from a Lifetime Savings Account of the spouse of the trust beneficiary if the rollover from the spouse's account is completed within 60 days of the date of distribution; (3) from a qualified state tuition plan or a Coverdell education savings account before January 1, 2006.
United States · United States Congress · 31 March 2004
Amends the Internal Revenue Code to extend until 2015 the tax deduction from gross income for certain expenses of elementary and secondary school teachers. Changes the amount of such deduction to allow $250 for an elementary or secondary school teacher, instructor, counselor, principal or aide working in a school for at least 450 hours during a school year and $500 for such school employees working at least 900 hours.
United States · United States Congress · 31 March 2004
Amends the Internal Revenue Code to require the Secretary of the Treasury and the Commissioner of Social Security to disclose tax returns and return information to a State or local court, upon the request by an order of such court, for purposes of family law proceedings.
United States · United States Congress · 31 March 2004
Renewal Communities Expansion and Technical Improvements Act of 2004 - Amends the Internal Revenue Code to: (1) qualify employees who reside in any renewal community for purposes of the empowerment zone employment credit; (2) extend the exemption from the limitation on the use of community development block grants for provision of public services to renewal communities; and (3) authorize the Secretary of Housing and Urban Development to expand the boundaries of a renewal community to include other adjacent and noncontiguous areas, including areas of high economic distress.
United States · United States Congress · 30 March 2004
State and Local Government Election Administration Act of 2004 - Amends the the Help America Vote Act of 2002 to postpone the deadline by which a State is required to meet the election administration requirements of the Act until the total amount appropriated to the State for requirements payments under the Act is equal to or greater than the costs incurred by the State in meeting such requirements. Declares that no State (or local government) shall be required to meet any of such election administration requirements until the later of: (1) the first day of the first calendar year which begins after the aggregate amount appropriated to the State for requirements payments for all fiscal years is equal to or greater than the costs incurred by the State in meeting such requirements; or (2) the applicable date otherwise provided.
United States · United States Congress · 30 March 2004
Amends Federal law to require the President to include in the annual submission to Congress of a proposed Federal budget a separate statement setting forth the estimated unfunded liability of each program for specified fiscal years, including the next 20-fiscal-year and 75-fiscal-year periods.
United States · United States Congress · 30 March 2004
United States Assistance for Civilians Affected by Conflict Act of 2004 - Amends the Foreign Assistance Act of 1961 to authorize the President to: (1) appoint a Special Coordinator to ensure that Federal departments and agencies responsible for the conduct of foreign affairs and national security undertake advance planning, coordinated action, and harmonized execution to respond to complex humanitarian emergencies in foreign countries and to ensure that such planning and action is consistent with the national interests of the United States; and (2) take specified actions to respond to such emergencies. Authorizes fiscal year appropriations to the President for international disaster assistance. Authorizes the President to develop and undertake protection initiatives, including protection initiatives for women and children who are refugees or displaced persons, or living in areas affected by a complex humanitarian emergency. Expresses the sense of Congress that the United Nations High Commissioner for Refugees should review its personnel practices to: (1) ensure that senior protection officers are assigned to the posts where women and children are in the most danger of gender-based violence or exploitation, and to ensure that more female staff are present in refugee or displaced persons camps; and (2) facilitate the permanent hiring of successful junior professional officers following their initial tours of duty. Declares that it shall be U.S. policy to ensure that U.S.-funded organizations that respond to complex humanitarian emergencies in foreign countries have the resources to address the specific health needs of women affected by such emergencies. Amends the Act to authorize the President to provide assistance: (1) to prevent, prepare for, and respond to foreign crises, including acts of ethnic cleansing, mass killings and genocide, peace and humanitarian intervention operations, and armed ethnic or civil conflicts; (2) to support the transition to democracy and long-term development in countries emerging from political instability or conflict; (3) to victims of foreign civil strife and warfare; and (4) for famine relief. Directs the Secretary of State to develop a strategy for the protection of women and children who are internally displaced, made refugees, or otherwise affected by a complex humanitarian emergency. Directs the Special Coordinator to maintain an information database and develop an early warning list related to occurrences of gender-based violence or exploitation of children during a complex humanitarian emergency. Directs the The Secretary to urge the United Nations High Commissioner for Refugees to work with nongovernmental organizations to implement a model `whistleblower' system under which humanitarian workers, refugees, and internally displaced persons can report gender-based violence or exploitation of children. Prohibits assistance to a nongovernmental organization that assists refugees or displaced persons if such organization does not adopt a code of conduct that incorporates specified provisions respecting sexual exploitation of children and others by humanitarian workers. Expresses the sense of Congress that all U.S. agencies, nongovernmental organizations, and multilateral organizations that are implementing U.S. humanitarian assistance programs should review their administrative, management, and employment practices at refugee and displaced persons camps for the purposes of: (1) increasing the number of women involved in the distribution of food and humanitarian supplies; and (2) educating providers and beneficiaries of humanitarian assistance about the seriousness of gender-based violence and exploitation of children. Amends the Act to include in foreign military training and education the protection of displaced civilians, especially women and children.
United States · United States Congress · 30 March 2004
Amends the Internal Revenue Code to treat conservation reserve program payments as real estate rentals and thus excluded from consideration in self-employment net earnings. Amends the Social Security Act to treat such payments similarly for purposes of old, age, survivors, and disability insurance (OASDI) benefits.
United States · United States Congress · 30 March 2004
Amends the Internal Revenue Code to increase from $3,000 to $9,000 the limitation on the deduction for the capital losses of individual taxpayers. Provides for an annual inflation adjustment of the limitation amount.
United States · United States Congress · 30 March 2004
Modifies the concurrent resolution on the budget for FY 2005, as passed the House, with respect to: (1) recommended levels and amounts; (2) major functional categories; (3) allocations made to the House Committee on Appropriations; and (4) additional reconciliation instructions to the House Committee on Ways and Means. Provides that such modifications shall have force and effect as though adopted by the House.
United States · United States Congress · 30 March 2004
Amends the concurrent resolution on the budget for FY 2005 with respect to: (1) recommended levels and amounts; (2) major functional categories; (3) section 302 (a) allocation made to the House and Senate Committees on Appropriations; and (4) additional reconciliation instructions to the House Committee on Ways and Means and the Senate Finance Committee.
United States · United States Congress · 29 March 2004
Save Summer Act of 2004 - Increases the FY 2004 numerical limit on H-2B nonimmigrants (temporary nonagricultural workers) from 66,000 to 106,000. Requires the Secretary of Homeland Security to provide the House and Senate Judiciary Committees with information on: (1) the numbers of aliens granted H-2B status or terminated from H-2B status, on a quarterly basis; and (2) the countries of origin, occupations of, and compensation paid to aliens granted H-2B status, the number of aliens terminated from such status, and the number of aliens provided such status during both the fiscal year reported and the preceding fiscal year, on an annual basis.
United States · United States Congress · 29 March 2004
United States International Leadership Act of 2004 - Directs the President, through the Secretary of State and the relevant U.S. chiefs of mission, to seek to establish a democracy caucus at the United Nations (UN), the UN Human Rights Commission, the UN Conference on Disarmament, and at other broad-based international organizations. Requires the Secretary to ensure that a high-level Government delegation is sent annually to consult with key foreign governments to promote the U.S. agenda at international fora. Directs the President, through the Secretary and the relevant U.S. chiefs of mission, to use the influence of the United States to reform the criteria for leadership and, in appropriate cases for membership, at all UN bodies and at other international organizations and multilateral institutions so as to exclude nations that violate organization principles, or are subject to organization sanctions. Amends the Foreign Service Act to direct the Secretary to establish training courses for Foreign Service officers, including appropriate chiefs of mission, on the conduct of diplomacy at international organizations and other multilateral institutions and at broad-based multilateral negotiations of international instruments. Declares that selection boards responsible for recommending Senior Foreign Service promotions shall consider whether the Service member has served in a position whose primary responsibility is to formulate policy towards or represent the United States at an international organization, a multilateral institution, or a broad-based multilateral negotiation of an international instrument. Directs the Secretary to report on: (1) establishment of a new Foreign Service cone concentrating on service at international organizations and multilateral institutions or participation in multilateral negotiations of international instruments; and (2) alternative mechanisms for developing a core group of U.S. diplomats and other government employees experienced in conducting multilateral diplomacy. Authorizes the Secretary to establish, within the Bureau of International Organizational Affairs an Office on Multilateral Negotiations. Amends the Foreign Relations Authorization Act, Fiscal Year 2003 to require the Secretary to report annually on U.S. and international efforts to obtain full membership for the Magen David Adom of Israel in the International Red Cross Movement. Authorizes appropriations to: (1) combat the piracy of U.S. copyrighted materials; and (2) make a voluntary contribution to the Organization of American States for the Inter-American Committee Against Terrorism to develop a port as a model of best security practices.
United States · United States Congress · 29 March 2004
Save Summer Act of 2004 - Increases the FY 2004 numerical limit on H-2B nonimmigrants (temporary nonagricultural workers) from 66,000 to 106,000. Requires the Secretary of Homeland Security to provide the House and Senate Judiciary Committees with information on: (1) the numbers of aliens granted H-2B status or terminated from H-2B status, on a quarterly basis; and (2) the countries of origin, occupations of, and compensation paid to aliens granted H-2B status, the number of aliens terminated from such status, and the number of aliens provided such status during both the fiscal year reported and the preceding fiscal year, on an annual basis.
United States · United States Congress · 26 March 2004
Small Business Health Tax Credit Act - Amends the Internal Revenue Code to allow small business employers (employers with between two and 50 employees) an income tax credit of between 30 to 50 percent (depending upon the number of employees) of the amount paid for employee health insurance, subject to a dollar limitation for each employee. Allows the employer to apply such credit against its minimum tax liability. Directs the Internal Revenue Service, in conjunction with the Small Business Administration, to educate small business personnel about this tax credit.
United States · United States Congress · 25 March 2004
Indian Gaming Regulatory Act Amendments of 2004 - Amends the Indian Gaming Regulatory Act to define a regulated person or entity to be a Indian tribe, a tribal operator of an Indian gaming operation, or any related management contractor or associated person, including certain concessionaires. Revises procedures for filling vacancies on the National Indian Gaming Commission and the powers of the Chairman. Directs the Commission to monitor, inspect, and access records of class III gaming. Authorizes it, in the case of contumacy by, or refusal to obey any subpoena issued to, any person, to request the Attorney General to invoke the jurisdiction of any U.S. court to compel compliance. Authorizes the Commission to accept gifts on its behalf, subject to specified prohibitions. Requires the Commission to develop a nonbinding minimum five-year regulatory plan to carry out its activities. Adjusts the salary of the General Counsel to the Commission and of other staff. Requires Commission Chairman approval of any tribal gaming ordinance that provides for a system ensuring background investigations and continuing oversight of tribal gaming commissioners and key tribal gaming commission employees (as well as primary management officials and key employees of a class II gaming enterprise, as under current law). Allows an Indian tribe to enter into a management contract for the operation and management of a class III gaming activity, subject to specified requirements currently applicable to class II gaming management contracts. Revises the authority of the Chairman to levy and collect appropriate civil fines up to $25,000 per violation to specify up to $25,000 per violation, per day. Authorizes the Chairman to issue orders: (1) requiring accounting and disgorgement, including interest; and (2) of reprimand, censure, or the placement of limitations on gaming activities and functions of any regulated person or entity for violations of Federal law or Commission or tribal regulations or ordinances. Requires the Commission to provide the regulated person or entity (currently, the tribal operator of an Indian game or a management contractor) with a written complaint if the Commission has reason to believe that such person or entity is engaged in specified activities. Authorizes Federal court enforcement of Commission subpoenas. Limits the schedule of fees to be paid to the Commission by each gaming operation that conducts a class II or class III gaming activity during any fiscal year to 0.080 percent of the gaming revenues.
United States · United States Congress · 25 March 2004
Domestic Workforce Protection Act - Renames the Department of Commerce as the Department of Trade and Commerce. Redesignates the Secretary of Commerce or any other official of the Department as the Secretary or official, as appropriate, of Trade and Commerce. Amends the Trade Act of 1974 to transfer the Office of the U.S. Trade Representatives from the Executive Office of the President to the Department of Trade and Commerce. Amends the Internal Revenue Code to revise tax rules for determining amounts included in the gross income of U.S. shareholders of controlled foreign corporations. Disallows a tax deduction for certain royalty payments made by a corporation to an affiliated entity organized and operated outside the United States. Authorizes the Secretary of the Treasury to deny tax benefits for corporations that attempt to avoid U.S. taxation through the use of tax havens. Requires the Attorney General to appoint an Assistant Attorney General for Trade. Provides for employment of additional customs inspectors to detect and prevent illegal transshipments of textiles. Requires the Secretary of Commerce to develop and implement a program to encourage and support increased domestic production of goods and products essential or critical to national security in order to decrease U.S. dependence upon such imports. Expresses the sense of the Senate that Congress should appropriate the full amount authorized by law to carry out the Regional Centers for the Transfer of Manufacturing Technology program under the National Institute of Standards and Technology Act and the Advanced Technology Program authorized by that Act. Abolishes the U.S. International Trade Commission and transfers its functions to the Department of Commerce to be performed by the Assistant Secretary of Commerce for Import Administration.
United States · United States Congress · 25 March 2004
Waives the FY 2004 numerical limitation applicable to H-2B nonimmigrant workers for those employers who lawfully employed such workers in FY 2003, up to the employer's FY 2003 employment levels.
United States · United States Congress · 25 March 2004
Amends the Internal Revenue Code to allow a deduction from gross income for unreimbursed medical care expenses and lost wages incurred in connection with the donation of one or more of all or part of a liver, lung, pancreas, kidney, intestine, or bone marrow to another human being for organ transplantation. Limits the amount of such deduction to $15,000 for each transplant procedure.
United States · United States Congress · 25 March 2004
National Education Advancement (NEA) and Teacher Relief Act - Amends the Internal Revenue Code to allow a tax credit for 75 percent of charitable contributions made by a taxpayer: (1) to a school tuition organization that provides certain scholarship aid; (2) for the improvement, renovation, or construction of an elementary or secondary school facility; and (3) for the acquisition of computer technology or equipment, or for related training, for use in an elementary or secondary school facility. Limits the dollar amount of such credit to $500 for individuals and $100,000 for corporations. Allows elementary or secondary school teachers, instructors, counselors, principals, or aides who work at least 900 hours during a school year to claim the tax credit provided by this Act for their expenses in connection with books, supplies (other than nonathletic supplies for courses of instruction in health or physical education), computer equipment (including related software and services), and other equipment and supplementary materials used in the classroom. Revises the definition of "school" for purposes of defining qualified elementary and secondary education expenses to include public, private, religious or home schools.
United States · United States Congress · 24 March 2004
National Defense Authorization Act for Fiscal Year 2005 - Authorizes appropriations for the Department of Defense (DOD) for FY 2005. Authorizes appropriations to DOD for: (1) procurement, including for aircraft, missiles, weapons and tracked combat vehicles, ammunition, and shipbuilding and conversion; (2) research, development, test, and evaluation, including ballistic missile defense capabilities; (3) operation and maintenance, including for defense working capital funds, the Armed Forces Retirement Home, the Defense Health Program, and chemical agents and munitions destruction; and (4) active and reserve military personnel, including end strengths. Extends certain bonus, special, and incentive pay authorities. Expands certain travel and transportation allowances. Sets forth provisions or requirements concerning: (1) environmental policy, including the protection of sunken State craft and the remains of their crews; (2) active and reserve military personnel policy, including the extension of age limits for reserve and National Guard general and flag officers, and revised retirement rules for officers; (3) ROTC and the military service academies, including the establishment of a Board of Visitors at each academy; (4) acquisition policy and management, including enhanced small business participation in defense contracting; (5) DOD organization and management; (6) budget and financial matters; (7) the establishment of auxiliaries for military departments and a National Defense Heritage Foundation; (8) DOD civilian personnel policy; and (9) matters relating to other nations, allies, and friendly foreign nations. Military Construction Authorization Act for Fiscal Year 2005 - Authorizes the Secretary of Defense and the Secretaries of the military departments to acquire real property and carry out specified military construction projects. Authorizes appropriations for: (1) military construction, land acquisition, and military family housing functions; (2) the North Atlantic Treaty Organization (NATO) Security Investment Program; (3) chemical demilitarization construction; and (4) National Guard and reserve forces facilities. Authorizes the Secretary of the Army to establish the Museum Center of the National Museum of the United States Army at Fort Belvoir, Virginia.
United States · United States Congress · 24 March 2004
State Veterans Home Nurse Recruitment Act of 2004 - Amends Federal veterans' benefits provisions to direct the Secretary of Veterans Affairs to make payments to States for assisting State veterans' homes in the hiring and retention of nurses and the reduction of nursing shortages at such homes. Makes eligible for such assistance State homes that: (1) currently receive per diem payments from the Secretary for the care of veterans; and (2) have in effect an employee incentive scholarship or other program designed to promote the hiring and retention of nursing staff and reduce nursing shortages. Limits such assistance to no more than 50 percent of the fiscal year costs of such a program. Requires the assistance program to be implemented as expeditiously as possible, so that payments are made to eligible States commencing no later than January 1, 2005.
United States · United States Congress · 24 March 2004
Amends the Internal Revenue Code to: (1) allow a 15-year recovery period for depreciation of certain low-income buildings eligible for the tax credit for low-income housing; and (2) exempt such buildings from provisions disallowing certain passive investment activity tax losses and credits.
United States · United States Congress · 24 March 2004
Child Health Care Affordability Act - Amends the Internal Revenue Code to allow a tax credit for the medical expenses of a dependent. Limits the amount of such credit to $500 (adjusted for inflation) per dependent. Increases the amount of the credit to $3,000 (adjusted for inflation) for a dependent who has a terminal disease, cancer, a disability, or any other health condition requiring hospitalization or other forms of specialized care. (Coordinates the credit allowed by this Act with the income tax credit credit for household and dependent care services and the income tax deduction for medical expenses to prevent a double tax benefit.)
United States · United States Congress · 24 March 2004
Sets forth the rule for the consideration of H.Con. Res. 393 (congressional budget).
United States · United States Congress · 23 March 2004
Amends the Internal Revenue Code to deem a transferee corporation of a student loan issuer that is controlled by an employee stock ownership plan to be an eligible educational institution for purposes of the qualified tuition program.
United States · United States Congress · 22 March 2004
Community Savings and Investment Act of 2004 - Amends the Internal Revenue Code to establish a separate corporate income tax rate for qualified community lenders of: (1) 15 percent of the amount of taxable income over $250,000 up to $1 million; and (2) the highest corporate tax rate imposed (currently 35%) for income over $1 million. Defines "qualified community lender" as a local community bank which: (1) achieved a satisfactory record of meeting community credit needs at its most recent Federal bank examination: (2) provided not less than 60 percent of its loans to its local community; (2) meets specified community ownership requirements; and (4) has total assets of not more than $1 billion. Reduces tax rates on certain subchapter S taxable income attributable to community lender income. Excludes from gross income distressed community banking income. Defines "distressed community banking income" as the net income of an FDA-insured bank which is derived from the active conduct of a banking business in a low-income, high unemployment community as defined by the Bank Enterprise Act of 1991.
United States · United States Congress · 19 March 2004
Sets forth the congressional budget for the Federal Government for FY 2005, including the appropriate budgetary levels for FY 2004 and 2006 through 2009. Lists recommended budgetary levels and amounts, for FY 2004 through 2009, with respect to: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits (on-budget); (5) debt subject to limit; and (6) debt held by the public. Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY 2004 through 2009. Sets forth reconciliation instructions for the House Committees on Agriculture, on Education and the Workforce, on Energy and Commerce, on Government Reform, and on Ways and Means. Requires the House Committee on: (1) Ways and Means to report a reconciliation bill providing for specified reductions in revenues; and (2) Armed Services to report to the House Budget Committee on its findings that identify specified savings from activities determined to be a low priority to the successful execution of current military operations, or to be wasteful or unnecessary to national defense. Provides for deficit-neutral reserve funds for: (1) health insurance for the uninsured; (2) medicaid coverage for children with special needs (the Family Opportunity Act); (3) increasing the survivor's benefits under the Military Survivors' Benefit Plan; and (4) pending legislation that provides for the safe importation of FDA-approved prescription drugs or places limits on medical malpractice litigation. Provides for contingency procedures to adjust budget aggregates and new budget authority allocation for surface transportation and infrastructure. Specifies adjustments for highway and transit outlays. Prohibits House legislation that would require advanced appropriations, with a specified exception. States that if legislation is reported that makes supplemental appropriations for FY 2005 for contingency operations related to the global war on terrorism, or for any emergency requirements, then the resulting new budget authority, new entitlement authority, outlays, and receipts shall not count for certain purposes of the Congressional Budget Act of 1974 for the provisions of such measure that are designated as making appropriations for such contingency operations. Declares the sense of the House on: (1) spending accountability; and (2) entitlement reform.
United States · United States Congress · 18 March 2004
Amends the Internal Revenue Code to permit up to $500 of unused health benefits to be carried forward to the next year of a health or retirement plan or arrangement, or to be contributed to a health savings account or a qualified retirement plan, without affecting the status of such plan or arrangement as a tax-exempt employee benefit cafeteria plan. Sets forth rules for the tax treatment of contributions to such plans.
United States · United States Congress · 18 March 2004
Assuring Honesty and Accountability Act of 2004 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to extend through FY 2007 the spending limits (spending caps) for the discretionary categories in new budget authority and outlays. Extends pay-as-you-go requirements through FY 2009. Extends specified budget enforcement mechanisms through FY 2009. Amends the Congressional Budget Act of 1974 concerning legislation which: (1) evades specified budget enforcement mechanisms; (2) provides direct spending (to be included in the Congressional Budget Office (CBO) analysis (scoring)); and (3) is unreported by committee (for purposes of budget point of order rules). Requires reports on legislation which provide new budget, spending, or credit authority or otherwise provide an increase or decrease in revenues or tax expenditures to include a projection by CBO of the cost of debt servicing (interest). Amends the Congressional Budget and Impoundment Control Act of 1974 to address issues of emergency spending through: (1) establishing criteria and guidelines; and (2) requiring a separate House vote on an emergency designation. Amends the Rules of the House of Representatives concerning: (1) budget compliance statements (permitting inclusion of budgetary implications); (2) requirements for budget act waivers (inclusion mandatory for bill consideration); and (3) a separate vote to waive a major budget act point of order.
United States · United States Congress · 17 March 2004
Low Income Taxpayer Protection Act of 2004 - Amends the Internal Revenue Code to: (1) require the registration of income tax preparers, including tax refund anticipation loan providers, and subjects unregistered preparers and providers to a $500 per incident violation fine; (2) provide for improved taxpayer services, including, improved electronic filing services, tele-filing, terminating the debt indicator program, assisting low-income taxpayers in receiving direct deposits from the U.S. Treasury, and establishing pilot mobile tax return offices; (3) provide for demonstration grants to eligible entities (federally insured depository institutions, State agencies, Indian tribal organizations, labor organizations, and etc.) to provide tax preparation services and assistance along with establishing an account in a federally insured depository institution for individuals not having such an account; and (4) provide grants for matching funds for the development, expansion, or continuation of qualified tax preparation clinics for low-income tax payers.
United States · United States Congress · 17 March 2004
Makes a one percent rescission in the: (1) budget authority provided (or obligation limitation imposed) for FY 2005 for any non-defense, non-homeland-security discretionary account in any FY 2005 appropriation Act; (2) budget authority provided in any advance appropriation for FY 2005 for such account in any prior fiscal year appropriation Act; and (3) contract authority provided in FY 2005 for any program that is subject to a limitation contained in any FY 2005 appropriation Act for the account. Excludes any account: (1) included in a Department of Defense Appropriations Act, Department of Homeland Security Appropriations Act, or Military Construction Appropriations Act; or (2) for Department of Energy defense activities included in an Energy and Water Development Appropriations Act.
United States · United States Congress · 17 March 2004
States that fees collected by the Secretary of Energy and deposited into the Nuclear Waste Fund shall be credited to the Fund as offsetting collections beginning October 1, 2004, until the end of the fiscal year when construction is complete for surface facilities for the fully operating nuclear waste repository. Amends the Nuclear Waste Policy Act of 1982 to repeal the exemption from annual apportionment of receipts, proceeds, and recoveries realized by the Secretary, as well as expenditures of amounts from the Fund.
United States · United States Congress · 17 March 2004
Amends the Farm Security and Rural Investment Act of 2002 to extend contract authority for national dairy market loss payments.
United States · United States Congress · 17 March 2004
Makes specified supplemental appropriations for the Department of Homeland Security (DHS) for Federal Air Marshals. Rescinds funds in the same amount previously appropriated for the DHS Office of the Secretary and Executive Management and the Office of the Under Secretary for Management.
United States · United States Congress · 17 March 2004
Provides a five percent rescission in the: (1) budget authority provided (or obligation limitation imposed) for FY 2005 for any non-defense, non-homeland-security discretionary account in any FY 2005 appropriation Act; (2) budget authority provided in any advance appropriation for FY 2005 for such account in any prior fiscal year appropriation Act; and (3) contract authority provided in FY 2005 for any program that is subject to a limitation contained in any FY 2005 appropriation Act for the account. Excludes any account: (1) included in a Department of Defense Appropriations Act, Department of Homeland Security Appropriations Act, or Military Construction Appropriations Act; or (2) for Department of Energy defense activities included in an Energy and Water Development Appropriations Act.
United States · United States Congress · 17 March 2004
Provides a two-percent rescission in the: (1) budget authority provided (or obligation limitation imposed) for FY 2005 for any non-defense, non-homeland-security discretionary account in any FY 2005 appropriation Act; (2) budget authority provided in any advance appropriation for FY 2005 for such account in any prior fiscal year appropriation Act; and (3) contract authority provided in FY 2005 for any program that is subject to a limitation contained in any FY 2005 appropriation Act for the account. Excludes any account: (1) included in a Department of Defense Appropriations Act, Department of Homeland Security Appropriations Act, or Military Construction Appropriations Act; or (2) for Department of Energy defense activities included in an Energy and Water Development Appropriations Act.
United States · United States Congress · 16 March 2004
Designation of Foreign Terrorist Organizations Reform Act - Amends the Immigration and Nationality Act (INA) to revise requirements authorizing the Secretary to designate an organization as a foreign terrorist organization. Makes designations effective until revoked or set aside (currently effective for two years, subject to revocation). Sets forth procedures requiring the Secretary to review the designation of a foreign terrorist organization upon the organization's filing a petition for revocation within two years after such designation. Requires the Secretary to review a designation if no review has taken place within a four-year period. Authorizes the Secretary to amend a designation. Amends the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 to require the inclusion in the State Department's Country Reports on Terrorism of: (1) information concerning specified terrorist groups that are known to have obtained or developed weapons of mass destruction (WMDs) or that are designated as foreign terrorist organizations under the INA; and (2) to the extent feasible, information concerning countries that have assisted terrorists in obtaining or developing WMDs.
United States · United States Congress · 16 March 2004
Spending Control Act of 2004 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish for FY 2005 through 2009 unspecified discretionary spending limits (spending caps) for the general purpose discretionary category in new budget authority and outlays. Provides that, in any of such fiscal years, discretionary advance appropriations provided in appropriation Acts in excess of an unspecified amount shall be counted against the discretionary spending limits for the fiscal year for which the appropriation Act containing the advance appropriation is enacted. Extends PAY-AS-YOU-GO requirements through FY 2009 to provide for an offsetting sequestration for direct spending (currently, direct spending and receipts) legislation that is enacted before October 1, 2009, that causes a net increase in direct spending (currently, net deficit increase). Modifies the formula used to calculate the amount of direct spending increase to exclude receipts. Provides, under specified conditions, for an adjustment in the discretionary spending limit for FY 2005 for supplemental appropriations related to the global war on terrorism. Makes revisions to the baseline calculation. Requires cost estimates on legislation to exclude certain outlay components of expiring receipts legislation. Provides extensions for: (1) certain budget enforcement requirements through FY 2009; and (2) PAY-AS-YOU-GO requirements through FY 2013.
United States · United States Congress · 16 March 2004
Amends the Internal Revenue Code to exclude from determination of the production period for distilled spirits any period allocated to the natural aging process for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.
United States · United States Congress · 16 March 2004
Highway Reauthorization Tax Act of 2004 - Amends the Internal Revenue Code to repeal various provisions allowing for reductions in the excise tax on certain alcohol fuel mixtures. Allows taxpayers to apply the income tax credit for alcohol products used as fuel against their excise tax liability. Repeals provisions limiting the amount of certain alcohol fuel tax receipts that shall be transferred to the Highway Trust Fund. Provides that the amount of such receipts that shall be appropriated to the Fund shall include amounts equivalent to the excise tax credits allowed for alcohol fuel mixtures. Exempts certain mobile machinery from the excise tax on heavy trucks sold at retail, the use tax on highway vehicles, and the tax on tires. Makes changes to certain administrative provisions of the excise tax on gasoline, diesel fuel, and kerosene (taxable fuels), including revisions concerning: (1) the tax on aviation-grade kerosene; (2) registration of vendors of taxable fuels; (3) penalties for failure to register or report information on taxable fuels; (4) the authority of the Internal Revenue Service to inspect books and records of fuel vendors; (5) mechanical dyeing of diesel fuel and kerosene; and (6) claims for refunds and credits of fuel excise taxes. Revises tax rules relating to ultimate vendors of taxable fuels for purposes of claiming tax refunds. Revises the excise tax on tires.
United States · United States Congress · 16 March 2004
Amends the Internal Revenue Code to repeal the limitation on the allowable amount of the work opportunity credit, the welfare-to-work credit, and the research credit based upon a taxpayer's tentative alternative minimum tax for the taxable year.
United States · United States Congress · 16 March 2004
Amends the Internal Revenue Code to repeal provisions requiring adjustments to depreciation in calculating alternative minimum taxable income. Eliminates certain accelerated depreciation as an item of tax preference for purposes of the alternative minimum tax.