Taxation

SAVERS Act of 2015

United States · United States Congress · 18 December 2015

Strengthening Access to Valuable Education and Retirement Support Act of 2015 or the SAVERS Act of 2015 This bill amends the Internal Revenue Code to exempt from the tax on prohibited transactions: (1) the provision of investment advice by a fiduciary to a pension plan, plan participant, or beneficiary which is a best interest recommendation; and (2) any transaction, including a contract for service, between an investment provider and the advice recipient if no more than reasonable compensation is paid for such investment advice and certain disclosures are made with respect to the cost of such advice. For purposes of this bill, "investment advice" is a recommendation that relates to: (1) the advisability of acquiring, holding, disposing, or exchanging any moneys or other property of a pension plan (or Individual Retirement Account) by the plan, plan participants, or plan beneficiaries, including any recommendation regarding whether to take a distribution of benefits from the plan or any recommendation relating to a rollover or distribution from such plan; (2) the management of moneys or other property of the plan, including recommendations relating to the management of plan assets to be rolled over or otherwise distributed from the plan; or (3) the advisability of retaining or ceasing to retain a person who would receive a fee or other compensation for providing investment advice. Investment advice must be rendered pursuant to either: (1) a written acknowledgment that the person is a fiduciary with respect to the provision of the recommendation; or (2) a mutual agreement, arrangement, or understanding that may include limitations on scope, timing, and responsibility to provide ongoing monitoring or advice services. The bill defines "best interest recommendation" as a recommendation: (1) for which no more than reasonable compensation is paid; (2) that is provided by a person acting with the care, skill, prudence, and diligence under the prevailing circumstances that a prudent person would exercise based on information obtained from an advice recipient; and (3) where the person giving such advice places the interests of the plan or advice recipient above the person's interests. A best interest recommendation may include a recommendation that is based on a limited range of investment options or may result in variable compensation to the person providing the recommendation. The bill prohibits the Department of Labor from amending any rules or administrative positions regarding investment advice promulgated under the Employee Retirement Income Security Act of 1974 (ERISA), the prohibited transaction provisions of the Internal Revenue Code, or other Labor regulations, and no such rules or administrative positions promulgated prior to the enactment date of this Act, but not effective on January 1, 2015, may become effective unless a bill or joint resolution specifically approving such rules or positions is enacted not later than 60 days after the enactment of this Act.

Fiscal Year 2016 Department of Veterans Affairs Seismic Safety and Construction Authorization Act

United States · United States Congress · 18 December 2015

Fiscal Year 2016 Department of Veterans Affairs Seismic Safety and Construction Authorization Act This bill authorizes the Department of Veterans Affairs (VA) to carry out the following major medical facility projects (each with specified maximum authorized funds): seismic corrections to buildings, including retrofitting and replacement of high-risk buildings, in San Francisco, California; seismic corrections to facilities, including facilities to support homeless veterans, at the medical center in West Los Angeles, California; seismic corrections to the mental health and community living center in Long Beach, California; construction of an outpatient clinic, administrative space, cemetery, and columbarium in Alameda, California; realignment of medical facilities in Livermore, California; construction of a medical center in Louisville, Kentucky; construction of a replacement community living center in Perry Point, Maryland; and seismic corrections and other renovations to several buildings and construction of a specialty care building in American Lake, Washington. A specified amount is authorized to be appropriated to the VA for such projects for FY2016 or the year in which funds are appropriated for the Construction, Major Projects, account. Such projects may only be carried out using specified funds.

Obamacare Tax Transparency Act

United States · United States Congress · 18 December 2015

Obamacare Tax Transparency Act This bill amends the Public Health Service Act to require health insurers to disclose to individuals and employers who pay health insurance premiums the portion of premiums attributable to the annual fee imposed on health insurers.

A bill making appropriations to address the heroin and opioid drug abuse epidemic for the fiscal year ending September 30, 2016, and for other purposes.

United States · United States Congress · 18 December 2015

This bill provides FY2016 supplemental appropriations for the Department of Justice (DOJ) and the Department of Health and Human Services (HHS) to address heroin and opioid drug abuse. The funds are designated as an emergency requirement, which exempts the funds from discretionary spending limits and other budget enforcement rules. For DOJ, the bill provides funds for State and Local Law Enforcement Assistance and Community Oriented Policing Services (COPS) programs. For HHS, the bill provides funds for: the Substance Abuse and Mental Health Services Administration, the Centers for Disease Control and Prevention, the National Institutes of Health, and the Public Health and Social Services Emergency Fund.

Protecting Charitable Contributions Act of 2015

United States · United States Congress · 18 December 2015

Protecting Charitable Contributions Act of 2015 This bill provides that the definitions and regulations in effect on January 1, 2015, relating to the substantiation of deductible charitable contributions in excess of $250, shall apply on and after the enactment date of the bill. The Internal Revenue Service shall not issue, revise, or finalize any regulation, revenue ruling, or other guidance relating to such definitions and regulations.

To amend the Internal Revenue Code of 1986 to reimburse each possession of the United States for the cost of the earned income tax credit.

United States · United States Congress · 18 December 2015

This bill amends the Internal Revenue Code to direct the Department of the Treasury to pay to the Commonwealths of Puerto Rico and the Northern Mariana Islands amounts of the earned income tax credit paid or payable to residents for taxable years beginning after December 31, 2015.

Ukrainian Warfighter Assistance Act

United States · United States Congress · 18 December 2015

Ukrainian Warfighter Assistance Act This bill amends the National Defense Authorization Act for Fiscal Year 2016 to specify additional security assistance and intelligence support that the Department of Defense (DOD) may provide to the government of Ukraine's military and security forces. It is U.S. policy that DOD, when providing equipment and technical assistance to Ukraine, shall give priority to border protection and monitoring assistance.

To impose certain requirements on the Secretary of the Treasury relating to transmittals of country-by-country reports for purposes of the Base Erosion and Profit Shifting Action Plan.

United States · United States Congress · 18 December 2015

This bill expressly prohibits the Department of the Treasury from collecting from a U.S. person or transmitting to any foreign jurisdiction any country-by-country report (CbCR) information of any U.S. person for taxable years beginning before January 1, 2017. CbCR information is used by the Organization for Economic Cooperation and Development to develop its Base Erosion and Profit Shifting (BEPS) Action Plan to increase the transparency of transfer pricing practices and other tax transactions of multinational business enterprises. Treasury must: (1) suspend the transmittal of CbCR information of any U.S. person to a foreign jurisdiction if it determines that such jurisdiction is abusing BEPS master file documentation requirements or failing to safeguard the confidentiality of information required in the master file, and (2) report to the congressional tax committees on allegations or reports received concerning the abuse of master file documentation requirements and any actions taken with respect to such allegations.

Youth Exchange Support Act of 2015

United States · United States Congress · 18 December 2015

Youth Exchange Support Act of 2015 This bill amends the Internal Revenue Code to increase from $50 to $400 per month the amount of the charitable contribution tax deduction for taxpayers who provide housing and support to a student enrolled in an educational program. This increased amount is adjusted for inflation for taxable years beginning after 2016.

Wireless Tax Fairness Act of 2015

United States · United States Congress · 17 December 2015

Wireless Tax Fairness Act of 2015 This bill prohibits states or local governments from imposing any new discriminatory tax on or with respect to mobile services, mobile service providers, or mobile service property for five years after the enactment of this Act. A "new discriminatory tax" is a tax imposed on mobile services, providers, or property that is not generally imposed on other types of services or property, or that is generally imposed at a lower rate, unless such tax was imposed and actually enforced prior to the enactment date of this Act. The bill grants jurisdiction to federal district courts to provide injunctive and other appropriate relief to prevent, restrain, or terminate any acts in violation of this Act. The bill requires the Government Accountability Office to study and report on the impact of: (1) state and local taxes on mobile services, providers, or property on the costs consumers pay for mobile services; and (2) the prohibition in this Act against discriminatory mobile services taxes on such costs.

TOTAL Act of 2015

United States · United States Congress · 17 December 2015

Tallying of the Actual Liabilities Act of 2015 or the TOTAL Act of 2015 This bill prohibits a retailer under the jurisdiction of the Federal Trade Commission (FTC) from selling a product or service through an Internet website without presenting the total transaction amount it expects to collect from the potential purchaser (including all fees, taxes, and shipping and handling charges) before the person commits to the purchase. The bill sets forth authority for: (1) the FTC to enforce a violation of this Act as an unfair or deceptive act or practice, and (2) states to bring civil actions on behalf of residents threatened or adversely affected by such a violation.

Consumers REBATE Act

United States · United States Congress · 17 December 2015

Consumers Rebate to ban Emissions and Boost AlTernative Energy Act or the Consumers REBATE Act This bill amends the Internal Revenue Code to impose as of January 1, 2017, an excise tax on the production or importation of a taxable carbon substance (i.e., coal, oil, and natural gas), payable by the producer, miner, or importer of such substance. The tax does not apply to exports of a taxable carbon substance. The bill requires the Department of the Treasury to: (1) impose carbon equivalency fees on imports of goods containing or produced using a taxable carbon substance; and (2) make quarterly payments, from the amounts deposited pursuant to imposition of the carbon excise tax, to lawful residents of the United States with a valid social security number.

Charitable Giving Privacy Protection Act

United States · United States Congress · 17 December 2015

Charitable Giving Privacy Protection Act This bill amends the Internal Revenue Code to prohibit the Internal Revenue Service (IRS) from requiring or accepting the Social Security account numbers of donors of charitable donations from donee organizations when such organizations are providing substantiation of such donations. The IRS may require the use of an identifier other than a Social Security account number.

Proposing a balanced budget amendment to the Constitution of the United States.

United States · United States Congress · 16 December 2015

Constitutional Amendment This joint resolution proposes a constitutional amendment prohibiting total outlays from exceeding total receipts for a fiscal year unless Congress authorizes the excess by a three-fifths roll call vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The President must submit a balanced budget to Congress annually. If the President does not submit a balanced budget for a fiscal year, no executive orders may be issued until the earlier of the submission of a balanced budget or the first day of the fiscal year. A three-fifths roll call vote of each chamber of Congress is required to increase the public debt limit. Congress may waive the requirements for any period during which the United States is engaged in military conflict that causes an imminent and serious military threat to national security.

Providing for consideration of the Senate amendment to the bill (H.R. 2029) making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2016, and for other purposes; providing for proceedings during the period from December 19, 2015, through January 4, 2016; and for other purposes.

United States · United States Congress · 16 December 2015

Sets forth the rule for consideration of the Senate amendment to the bill (H.R. 2029) making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2016, and for other purposes; providing for proceedings during the period from December 19, 2015, through January 4, 2016.

Making further continuing appropriations for fiscal year 2016, and for other purposes.

United States · United States Congress · 16 December 2015

This resolution amends the Continuing Appropriations Act, 2016 to extend the continuing FY2016 appropriations for federal agencies at the current annual rate through the earlier of December 22, 2015, or enactment of FY2016 appropriations legislation. The resolution prevents a government shutdown when funding under current law expires on December 16, 2015.

To amend the Internal Revenue Code of 1986 to extend the statute of limitation for credit or refund for taxpayers who receive combat pay.

United States · United States Congress · 15 December 2015

This bill amends the Internal Revenue Code to extend the limitation period for claiming a credit or refund for taxpayers who receive tax-exempt combat pay from 3 years from the date the return was filed, or 2 years from the date the tax was paid, to 15 years from either of such dates.

Superfund Polluter Pays Restoration Act of 2015

United States · United States Congress · 14 December 2015

Superfund Polluter Pays Restoration Act of 2015 This bill amends the Internal Revenue Code to: (1) reinstate the Hazardous Substance Superfund financing rate beginning 60 days after enactment of this Act; (2) increase such rate from 9.7 cents to 15.8 cents per barrel of crude oil; (3) adjust for inflation in taxable years beginning after 2016 the $3.5 billion Superfund threshold after which no tax is imposed; (4) reinstate and increase the rates of tax on taxable chemicals; and (5) modify the definition of "crude oil" to include any bitumen or bituminous mixture, any oil derived from such mixture (including oil derived from tar sands), and any oil derived form kerogen-bearing sources (including oil derived from oil shale). The bill amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to allow the use of the Superfund for environmental remediation without further appropriation.

Individual Assistance Improvement Act of 2015

United States · United States Congress · 11 December 2015

Individual Assistance Improvement Act of 2015 This bill requires the Federal Emergency Management Agency (FEMA) to submit to Congress an annual report on recommendations for improving federal assistance for small states and rural areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act and additional resources required for such improvements. In measuring the severity, magnitude, and impact of a disaster and evaluating the need for assistance to individuals under that Act, FEMA shall not apply, with respect to a rural area, the factor relating to concentration of damages. FEMA shall provide the governor or the chief executive of an Indian tribal government with documentation related to a major disaster declaration decision within 25 days after such individual requests that documentation, including: (1) an analysis of the factors that it considered in making the decision, and (2) its rationale. The Government Accountability Office shall conduct a comprehensive review of: (1) FEMA's damage assessment processes for major disaster declarations, and (2) the teams that carry out such processes. FEMA shall conduct a study, biennially, to: (1) compare the average amount of individual assistance provided per person for each major disaster declared during the five most recently completed fiscal years, the average damages realized per individual for each disaster, and the average damages realized per individual for each event where a request for a major disaster declaration was denied during the five most recently completed fiscal years; and (2) collect the data needed to update a table relating to the average amount of individual assistance by state.

Water and Agriculture Tax Reform Act of 2016

United States · United States Congress · 10 December 2015

Water and Agriculture Tax Reform Act of 2015 This bill amends the Internal Revenue Code to permit tax-exempt mutual ditch or irrigation companies to earn income from dispositions of certain real property and stock interests without affecting their tax-exempt status, but requires that such income be used to pay the costs of operations, maintenance, and capital improvements of such a company.

Higher Education Savings Accounts Act of 2015

United States · United States Congress · 10 December 2015

Higher Education Savings Accounts Act of 2015 This bill requires the Department of Education (ED) to carry out a pilot program under which tax-exempt savings accounts (to be known as higher education pledge accounts) are established for the benefit of 9th and 10th grade students who are eligible to receive free or reduced price lunches under the Richard B. Russell National School Lunch Act. ED: (1) shall deposit into each account for a selected student an initial amount equal to the amount of the maximum federal Pell Grant for the award year, and (2) may make additional deposits of such amount based on the student's academic progress. A student may use funds from such account only to pay the cost of attendance at a qualified institution. Any contribution to or distribution from such account shall not be includible in gross income. The amount of any Pell Grant awarded to a student attending a qualified institution shall be reduced by the amount in such student's account. ED shall: (1) monitor the academic progress of each student for whose benefit an account is maintained; and (2) ensure that each such student receives at least 12 hours of financial counseling on the rules pertaining to deposits, distributions, and the tax treatment of funds in the account and on sources of federal financial assistance for higher education.

Gun Violence Prevention and Safe Communities Act of 2015

United States · United States Congress · 10 December 2015

Gun Violence Prevention and Safe Communities Act of 2015 This bill amends the Internal Revenue Code, with respect to the excise tax on the sale of firearms by manufacturers, producers, or importers, to: (1) increase the rate of such tax to 20% on pistols, revolvers, and other firearms and on any lower frame or receiver for a firearm; and (2) impose a 50% tax on shells and cartridges. The bill exempts any department, agency, or instrumentality of the United States from such tax. The bill allocates revenues from the increased excise tax under this Act for law enforcement and public safety grant programs, including programs for research on gun violence and its prevention. The bill: (1) increases the occupational tax on importers, manufacturers, and dealers in firearms and the transfer tax on firearms; and (2) modifies the definition of "firearm" for excise tax purposes to include a semiautomatic pistol chambered for cartridges and configured with receivers commonly associated with rifles and capable of accepting detachable magazines.

Providing for consideration of the conference report to accompany the bill (H.R. 644) to reauthorize trade facilitation and trade enforcement functions and activities, and for other purposes, and providing for consideration of the Senate amendments to the bill (H.R. 2250) making appropriations for the Legislative Branch for the fiscal year ending September 30, 2016, and for other purposes.

United States · United States Congress · 10 December 2015

Sets forth the rule for consideration of the conference report to accompany the bill (H.R. 644) to reauthorize trade facilitation and trade enforcement functions and activities, and for other purposes, and providing for consideration of the Senate amendments to the bill (H.R. 2250) making appropriations for the Legislative Branch for the fiscal year ending September 30, 2016.

Clean Energy Worker Just Transition Act

United States · United States Congress · 10 December 2015

Clean Energy Worker Just Transition Act This bill prescribes eligibility requirements and procedures for the award of temporary adjustment assistance to a group of workers of adversely affected coal-related or coal-dependent or similar energy industries who are totally or partially separated, or threatened with total or partial separation, because of the low cost of competing alternative forms of energy. Such assistance shall include temporary additional unemployment compensation, health insurance premium subsidy tax credits, training and support for employment, as well as additional pension benefits. The bill establishes in the Treasury the Clean Energy Workers Trust Fund, appropriations to which shall include the increase in revenues resulting from certain revisions to the rules for taxation of inverted corporations (U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the U.S. rates). The Internal Revenue Code (IRC) is amended to revise such rules to treat as an inverted domestic corporation subject to U.S. taxation any foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, if, after the acquisition: (1) more than 50% (by vote or value) of the stock of the new entity (expanded affiliated group) is held by former shareholders or partners of the domestic corporation or partnership, or (2) the management or control of the expanded affiliated group occurs primarily within the United States and the group has significant domestic business activities. The bill creates a tax credit for hiring certified adversely affected energy industry workers. The Department of Labor shall provide full information to workers about the adjustment assistance available under this Act. The Surface Mining Control and Reclamation Act of 1977 is amended to transfer specified excess funds derived from coal mine operator-paid reclamation fees to the trustees of the 1974 UMWA Pension Plan for use solely to pay pension benefits required under such Plan. Workplace Democracy for a Clean Energy Future This bill amends the National Labor Relations Act to require the National Labor Relations Board to certify without an election an individual or labor organization as the exclusive representative of the employees in a unit appropriate for bargaining if a majority of the employees has signed valid authorizations designating the individual or labor organization specified in a properly filed petition as their bargaining representative and no other individual or labor organization is currently certified or recognized as the exclusive representative of any of the employees in the unit. The Board shall develop guidelines and procedures for the designation by employees of a bargaining representative. The bill prescribes deadlines for critical turns in collective bargaining to establish an initial agreement upon the request of an individual or labor organization that has been newly organized or certified as a representative. The bill also creates a Community Need-Based Economic Transition Assistance Program, coordinated by the Department of Commerce, for counties or Indian tribes in which at least 35 certified adversely affected workers reside. The Appalachian Regional Commission shall award grants to such counties to support economic development planning and implementation activities in them. The Office of Surface Mining Reclamation and Enforcement shall award grants to eligible counties for reclamation of abandoned coal mine land sites and associated polluted waters. The Environmental Protection Agency shall: (1) award eligible counties capitalization grants to establish a drinking water treatment revolving loan fund; and (2) provide those counties long-term, low-interest loans for large water infrastructure projects not otherwise eligible for funding from a state revolving loan fund. The Department of Agriculture shall provide such counties loans and loan guarantees under the Rural Electrification Act of 1936 to expand access to, and the quality of, broadband service across the rural United States. Commerce shall award them grants under the Broadband Technology Opportunities Program. The Department of Energy shall award these counties grants for electricity delivery and energy reliability activities to modernize the electric grid.

American Clean Energy Investment Act of 2015

United States · United States Congress · 10 December 2015

American Clean Energy Investment Act of 2015 This bill amends the Internal Revenue Code to extend and modify tax provisions relating to energy. TITLE I--REDUCING CARBON POLLUTION AND CREATING JOBS BY TRANSITIONING TO SUSTAINABLE ENERGY SOURCES This title makes permanent: (1) the tax credit for producing electricity from renewable resources, (2) the energy tax credit, and (3) the qualifying advanced energy project credit. The Department of the Treasury must provide grants to tax-exempt organizations for investment in specified energy property, including qualified fuel cell property, solar property, qualified small wind energy property, geothermal property, qualified microturbine property, combined heat and power system property, and geothermal heat pump property. The title expands the energy tax credit to allow a 30% credit for investment in offshore wind energy facilities. TITLE II--SAVING CONSUMERS AND BUSINESSES MONEY BY PROMOTING ENERGY EFFICIENCY This title makes permanent the tax deduction for energy efficient commercial buildings and updates the energy standard applicable to such buildings. Also made permanent are the tax credits for new energy efficient homes, for nonbusiness energy property, and for residential energy efficient property. TITLE III--HELPING AMERICANS MOVE BEYOND OIL This title: (1) eliminates the phaseout of the applicable percentage for the tax credit for investment in new qualified plug-in electric drive motor vehicles, (2) makes permanent the credit for two and three-wheeled plug-in electric vehicles, (3) increases the dollar limitation on the battery capacity for such vehicles from $5,000 to $7,500, and (4) makes the personal tax credit allowed for investment in such vehicles refundable. The title makes permanent: (1) the tax credit for investment in hybrid medium and heavy-duty trucks, and (2) the parity at $250 of the tax exclusion for employer-provided mass transit and parking benefits. The title extends through 2022: (1) the second generation biofuel producer credit, and (2) the income and excise tax credits for biodiesel and renewable diesel, (3) the special depreciation allowance for second generation biofuel plant property, and (4) the tax credit for alternative vehicle refueling property expenditures. New income and excise tax credits at $1.00 per gallon are allowed for the production of biodiesel and an increased credit is allowed for small biodiesel producers.

Eliminate, Neutralize, and Disrupt Wildlife Trafficking Act

United States · United States Congress · 10 December 2015

Eliminate, Neutralize, and Disrupt Wildlife Trafficking Act This bill directs the Presidential Task Force on Wildlife Trafficking to: identify countries of concern regarding the supply, poaching, or transit of wildlife and wildlife products; collaborate with the national wildlife service of a country of concern to analyze the threats to wildlife in that country, and to prepare a strategic plan with recommendations for addressing wildlife crime; coordinate efforts to implement strategic plans among federal agencies and non-federal partners; and coordinate with stakeholders qualified to provide assistance regarding anti-poaching activities, law enforcement efforts, and strategies to reduce illicit trade and reduce consumer demand for illegally traded wildlife and wildlife products. The Task Force shall terminate five years after enactment of this Act. The Department of State may provide defense articles, services, and training to security forces of a country of concern to counter wildlife trafficking and poaching. The State Department and the U.S. Agency for International Development, with respect to countries of concern, may: provide assistance to carry out strategic plan recommendations, including improving the effectiveness of wildlife law enforcement; design and implement programs to increase the investigational capacity of wildlife law enforcement and customs and border security officers and to combat the transnational trade in illegal wildlife; and take actions to strengthen international cooperation and partnerships to combat the global wildlife crime crisis. The State Department may also provide support in countries of concern to the development and replication of community-owned wildlife conservancies and community-based conservation programs. It is the sense of Congress that the United States should continue to work with foreign countries, including China, Thailand, and Vietnam to combat global wildlife trafficking. The State Department should implement agreements with China and initiate negotiations with Thailand and Vietnam aimed at reducing demand for ivory and rhinoceros horn (Vietnam), and eliminating illegal trade in wildlife and wildlife products. It is the sense of Congress that efforts to find funds to carry out this Act should not result in an increase in amounts authorized to be appropriated for a fiscal year to provide additional funds for overseas contingency operations.

Financial Security Credit Act of 2015

United States · United States Congress · 10 December 2015

Financial Security Credit Act of 2015 This bill amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year (financial security credit). A "designated savings product" is a qualified retirement plan, a qualified tuition plan, a Coverdell education savings account, a U.S. savings bond, a certificate of deposit with a duration of at least eight months, a savings account, or other savings product considered appropriate by the Department of the Treasury. The Internal Revenue Service must notify individual taxpayers who may qualify for a financial security credit that they have the option of an electronic direct deposit if they deposit any portion of their tax refund into a designated savings product.

To amend the Internal Revenue Code of 1986 to determine eligibility for health insurance subsidies without regard to amounts included in income by reason of conversion to a Roth IRA.

United States · United States Congress · 10 December 2015

This bill amends the Internal Revenue Code to exclude any amount includible in gross income for converting to a Roth Individual Retirement Account from the calculation of adjusted gross income used to determine eligibility for, and the amount of, the tax credit for health care insurance premium assistance.

Tax Equity and Prosperity for Puerto Rican Families Act of 2015

United States · United States Congress · 10 December 2015

Tax Equity and Prosperity for Puerto Rican Families Act of 2015 This bill amends the Internal Revenue Code to make citizens of Puerto Rico eligible for the federal earned income tax credit and allow them to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers. In making the earned income tax credit applicable to Puerto Rican citizens, the bill modifies credit requirements to allow taxpayers in Puerto Rico to claim the credit at age 21 (rather than age 25) and to allow a credit percentage of 40, without regard to the number of qualifying children claimed by the taxpayer.

Department of Labor, Health and Human Services, and Education, and Related Agencies Appropriations for Fiscal Year 2015

United States · United States Senate · 9 December 2015

ENERGY AND WATER DEVELOPMENT APPROPRIATIONS FOR FISCAL YEAR 2015

United States · United States Senate · 9 December 2015

Puerto Rico Financial Stability and Debt Restructuring Choice Act

United States · United States Congress · 9 December 2015

Puerto Rico Financial Stability and Debt Restructuring Choice Act This bill establishes the Puerto Rico Financial Stability Council, subject to enactment of a law by the Legislative Assembly and the governor of Puerto Rico. For each fiscal year the governor of Puerto Rico shall develop a financial plan, and the Legislative Assembly shall develop a budget, that meet specified requirements to promote financial stability, and both shall submit them to the Council for its approval. The bill prescribes procedures for submission to the Council of revised financial plans or revised budgets in the event of disapproval for failing meet specified criteria. The government of Puerto Rico may not borrow money unless the Council certifies in advance that both the receipt of borrowed funds and the repayment of obligations incurred are consistent with the financial plan and budget for the year. The bill also prescribes procedures for addressing any variance of actual revenues and expenditures from the adopted financial plan and budget, including the withholding of funds under federal programs. The Council shall recommend to the governor, the Legislative Assembly, the President, and Congress actions for the government of Puerto Rico or the federal government to take to ensure compliance with a financial plan and budget. The bill amends federal bankruptcy law to apply to Puerto Rico treatment as a state with respect to Adjustments of Debts of a Municipality.

Christmas Tree Tax Exemption Act

United States · United States Congress · 9 December 2015

Christmas Tree Tax Exemption Act This bill requires the Department of Agriculture (USDA) to permit "choose and cut" Christmas tree producers to opt out of USDA's Christmas Tree Promotion, Research, and Information Order with respect to trees sold directly to final consumers. (The order was authorized by the Commodity Promotion, Research, and Information Act of 1996 and includes an assessment on Christmas tree producers to fund a promotion, research, and information program for fresh cut Christmas trees.)

Puerto Rico Assistance Act of 2015

United States · United States Congress · 9 December 2015

Puerto Rico Assistance Act of 2015 TITLE I--TAXES The bill provides for a reduction in employment and self-employment tax rates for qualified residents of Puerto Rico, American Samoa, Guam, the Northern Mariana Islands, and the Virgin Islands during a payroll tax holiday period beginning after December 31, 2015, and ending before January 1, 2021. TITLE II--PUBLIC PENSIONS The bill requires reports on: (1) the financial condition of Puerto Rico public pension plans, and (2) state and local government employee pension benefit plans. The bill amends the Internal Revenue Code to provide for annuity accumulation retirement plans for state and local government employees beginning after 2015. TITLE III--PUERTO RICO FINANCIAL RESPONSIBILITY AND MANAGEMENT ASSISTANCE AUTHORITY The bill establishes the Puerto Rico Financial Responsibility and Management Assistance Authority to assist the Commonwealth government of Puerto Rico and its public corporations in achieving financial stability. The Authority shall initiate a control period for either the Commonwealth government or a public corporation by certifying that either such entity: (1) does not have sufficient revenue to meet is debt obligations, (2) has defaulted on a loan or other financial obligation, (3) is unable to meet payroll, (4) has a cash deficit, or (5) fails to make required pension payments. For each year in which the Commonwealth government or a public corporation is in a control period, the Governor of Puerto Rico or the emergency manager of a public corporation shall develop and submit to the Authority a financial plan and budget. A control period terminates when the Authority certifies that the Commonwealth government or its public corporations have adequate access to credit and have been solvent for a specified period. The bill sets forth standards to promote the financial stability of the Commonwealth government and its public corporations. The Authority may issue bonds at the request of the governor and pursuant to an act of the Legislative Assembly to raise revenue for the functioning of the Commonwealth government. The bill establishes the Office of the Chief Financial Officer of Puerto Rico. During a control period the Chief Financial Officer shall assist the governor in preparing financial plans and budgets and shall oversee other financial operations of the Commonwealth government. TITLE IV--ADDITIONAL REPORTS AND STUDIES The bill requires: (1) a report on the exclusion of U.S. territories from participation in health care exchanges, and (2) recommendations on the manner in which the federal government should more equitably allocate resources across U.S. territories. TITLE V--TRANSITION ASSISTANCE The bill authorizes appropriations, to remain available through FY2016, for use by the Authority to assist the transition of Puerto Rico to financial, fiscal, economic, and health care stability, the cost of which shall be offset by reductions in funding for the Prevention and Public Health Fund. TITLE VI--TECHNICAL ASSISTANCE The Department of the Treasury must provide technical assistance to U.S. territories (including Puerto Rico) for improved accounting and disclosure practices.

Waterway LNG Parity Act of 2015

United States · United States Congress · 9 December 2015

Waterway LNG Parity Act of 2015 This bill amends the Internal Revenue Code to modify the excise tax rate for the Inland Waterways Trust Fund to equal 29 cents per gallon or the per energy equivalent of a gallon of diesel in the case of liquefied natural gas, as defined by this Act.

Making further continuing appropriations for fiscal year 2016, and for other purposes.

United States · United States Congress · 9 December 2015

This joint resolution amends the Continuing Appropriations Act, 2016 to extend the continuing FY2016 appropriations for federal agencies at the current annual rate until the earlier of midnight on December 16, 2015, or enactment of FY2016 appropriations legislation. The joint resolution prevents a government shutdown when funding under current law expires on December 11, 2015.

HEARING ON H.R. 3262; H.R. 3484; H.R. 4056; H.R. 4129; A DRAFT BILL TO AMEND THE VETERANS' BENEFITS PROGRAMS IMPROVEMENT ACT OF 1991 TO AUTHORIZE VA TO SELL PERSHING HALL; AND, VA'S LEGISLATIVE PROPOSAL REGARDING FISCAL YEAR 2016 CONSTRUCTION PROJECTS

United States · United States House of Representatives · 8 December 2015

Physician Shortage Minimization Act of 2015

United States · United States Congress · 8 December 2015

Physician Shortage Minimization Act of 2015 This bill amends the Internal Revenue Code to classify, for employment tax purposes, certain physicians who provide medical services for a temporary period (locum tenens physicians) as independent contractors rather than as employees.

Protecting Charitable Contributions Act of 2015

United States · United States Congress · 8 December 2015

Protecting Charitable Contributions Act of 2015 This bill provides that the definitions and regulations in effect on January 1, 2015, relating to the substantiation of deductible charitable contributions in excess of $250, shall apply on and after the enactment date of the bill. The Internal Revenue Service shall not issue, revise, or finalize any regulation, revenue ruling, or other guidance relating to such definitions and regulations.

Protecting American Jobs Act

United States · United States Congress · 8 December 2015

Protecting American Jobs Act This bill amends the Immigration and Nationality Act to reduce the fiscal year cap on H-1B nonimmigrant visas (specialty occupations) from 65,000 to 50,000. If for a fiscal year more than 50,000 H-1B petitions are filed, the Department of Homeland Security (DHS) shall allocate available visas to petitions for those workers who will earn the highest wages. IF H-1B visa petitions seek more than 20,000 aliens who have earned a master's or higher degree from a U.S. institution of higher education, DHS shall also allocate the available visas for those petitions seeking such workers who will earn the highest wages.

To amend the Internal Revenue Code of 1986 to clarify the valuation rule applicable to the early termination of certain charitable remainder unitrusts.

United States · United States Congress · 8 December 2015

This bill amends the Internal Revenue Code to set forth a special valuation rule for charitable remainder unitrusts that terminate early for purposes of the tax deduction for charitable contributions.

Food Recovery Act of 2015

United States · United States Congress · 7 December 2015

Food Recovery Act of 2015 This bill amends the following to provide funding, expand tax deductions, and establish requirements to reduce food waste: the Richard B. Russell National School Lunch Act; the Internal Revenue Code; the Federal Food, Drug, and Cosmetic Act; the Solid Waste Disposal Act; and several agricultural laws. The bill expands and establishes federal grant and loan programs to: improve the nutritional health of children and raise awareness about food waste, improve cooperation between agricultural producers and emergency feeding organizations, assist schools in using food from farms that would otherwise go to waste and providing farms with compostable materials, and install facilities that include composting or anaerobic digesters that use food or crop waste to produce energy. Recipients of grants to install anaerobic digesters that use waste to produce energy must meet specified requirements regarding environmental laws and the distribution of certain food to hunger-serving organizations. USDA must: (1) establish an Office of Food Recovery to coordinate federal programs to measure and reduce food waste, and (2) study techniques for decreasing food waste and estimating the amount of food wasted by farms. The bill provides that composting is a conservation practice eligible for support under USDA's conservation programs. The bill extends and expands tax deductions for the donation of food to charitable organizations. "Sell-by" dates included on food labeling must indicate that the dates are only the manufacturer's suggestion and use uniform language. Companies that receive food service contracts with the federal government must donate surplus food to nonprofit organizations that assist food-insecure people.

Strong Families Act

United States · United States Congress · 3 December 2015

Strong Families Act This bill amends the Internal Revenue Code to: (1) allow certain employers a business-related tax credit for up to 25% of the amount of wages paid to their employees during any period (not exceeding 12 weeks) in which such employees are on family and medical leave, (2) limit the allowable amount of such credit to $3,000 per employee for any taxable year, and (3) terminate such credit after 2017. The Government Accountability Office shall complete a study on the effectiveness of the tax credit for paid family and medical leave. The Office of Management and Budget shall determine: (1) the dollar amount obligated by each executive agency to purchase and to lease civilian vehicles in FY2010, and (2) the total number of civilian vehicles purchased and leased by each executive agency in FY2010. Executive agencies may not obligate more than 90% of the amount they obligated in FY2010 to purchase or lease civilian vehicles in each of FY2016-FY2020. The bill permanently rescinds all unobligated amounts in the U.S. Enrichment Corporation Fund, except for amounts designated as an emergency requirement.

Biodiesel Tax Incentive Reform and Extension Act of 2015

United States · United States Congress · 3 December 2015

Biodiesel Tax Incentive Reform and Extension Act of 2015 This bill amends the Internal Revenue Code to: (1) extend through March 31, 2016, the income tax credit for biodiesel and renewable diesel used as fuel and the excise tax credit for biodiesel fuel mixtures, (2) allow through 2018 a new income and excise tax credit equal to $1.00 for each gallon of biodiesel produced, and (3) provide for an increased credit for small biodiesel producers.

Full Expensing Act of 2015

United States · United States Congress · 3 December 2015

Full Expensing Act of 2015 This bill amends the Internal Revenue Code to expand the expensing allowance for certain depreciable business property (section 179 property) by: (1) redefining "section 179 property" to include tangible property or computer software that is acquired by purchase for use in a trade or business or for the production of income, and (2) repealing the dollar limitation on the amount of such property that may be deducted as an expense in the current taxable year.

Biodiesel Tax Incentive Reform and Extension Act of 2015

United States · United States Congress · 3 December 2015

Biodiesel Tax Incentive Reform and Extension Act of 2015 This bill amends the Internal Revenue Code to revise the income and excise tax credits for biodiesel used as fuel to: (1) allow a $1.00 tax credit for each gallon of biodiesel produced, (2) provide for an increased income tax credit for small biodiesel producers, (3) revise the definitions of "biodiesel" and "eligible small biodiesel producer," (4) treat renewable diesel in the same manner as biodiesel for income tax purposes, and (5) extend the biodiesel income and excise tax credits through December 31, 2018.

American Unemployed Worker Investment Act of 2015

United States · United States Congress · 3 December 2015

American Unemployed Worker Investment Act of 2015 This bill amends the Internal Revenue Code to: (1) extend the work opportunity tax credit through 2017; (2) allow a small business employer (i.e., an employer who employs more than 10 but fewer than 25 full-time employees throughout the taxable year) an increased work opportunity tax credit for hiring a qualified unemployment compensation recipient; and (3) allow tax-exempt organizations a work opportunity tax credit for hiring qualified unemployment compensation recipients. The bill defines "qualified unemployment compensation recipient" as any individual who is certified as: (1) not being a student for at least six months during the one-year period ending on the hiring date, (2) being in receipt of unemployment compensation on the hiring date, and (3) having a hiring date during the two-year period which begins on the enactment of this Act. The bill denies such credit unless: (1) the qualified unemployment compensation recipient is employed for not less than 35 hours per week for not less than 1 year, and (2) the number of full-time employees of the employer receiving such credit is increased by 1 for at least 1 year.

Groundwater Conservation Incentive Act of 2015

United States · United States Congress · 3 December 2015

Groundwater Conservation Incentive Act of 2015 This bill amends the Internal Revenue Code to expand the tax deduction for soil and water conservation expenditures to include expenditures to reduce groundwater use and for the conversion from groundwater use to surface water use.

Mechanical Insulation Installation Incentive Act of 2015

United States · United States Congress · 3 December 2015

Mechanical Insulation Installation Incentive Act of 2015 This bill amends the Internal Revenue Code to allow an additional tax deduction for the cost of installing mechanical insulation property. The bill: (1) limits the amount of such deduction to the lesser of 30% or the reduction in energy loss from the installed mechanical insulation property compared to property that meets the minimum requirements of American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standard 90.1-2007; and (2) allows the cost of replacing mechanical insulation property to be treated as a deductible business expense in the current taxable year. The bill defines "mechanical insulation property" as insulation materials, facings, and accessory products: (1) placed in service in connection with a mechanical system which is located in the United States and of a character subject to an allowance for depreciation; and (2) utilized for thermal requirements for mechanical piping and equipment, hot and cold applications, and heating, venting and air conditioning applications which can be used in a variety of facilities. The bill also allows a tax deduction for capital expenditures related to mechanical insulation property.

MEGABYTE Act of 2016

United States · United States Congress · 2 December 2015

Making Electronic Government Accountable By Yielding Tangible Efficiencies Act of 2015 or the MEGABYTE Act of 2015 This bill requires the Office of Management and Budget (OMB) to issue a directive to require each executive agency to develop a comprehensive software licensing policy, which shall: identify clear roles, responsibilities, and central oversight authority within the agency for managing enterprise software license agreements and commercial software licenses; and require each agency to establish a comprehensive inventory of software licenses, track and maintain such licenses, analyze software usage to make cost-effective decisions, provide software license management training, establish goals and objectives of the agency's software license management program, and consider the software license management life cycle phases to implement effective decision-making and incorporate existing standards, processes, and metrics. Each agency shall report to OMB in each fiscal year through FY2018 on the savings from improved software license management.