Home-Based Business Fairness Act of 1997

Summary

Home-Based Business Fairness Act of 1997 - Amends the Internal Revenue Code to increase the deduction allowed for the health insurance costs of a self-employed individual to allow as a deduction an amount equal to the amount paid by such individual for insurance which constitutes medical care for such individual, such individual's spouse, and dependents. Adds to provisions defining the disallowance of certain expenses in connection the business use of the home to provide that a home office shall in any case qualify as the principal place of business if the office is: (1) in the location where the taxpayer's essential administrative or management activities are conducted on a regular and systematic basis; and (2) necessary because the taxpayer has no other location for the performance of the essential management or administrative activities of the business. Considers a service provider as not being an employee if the provider: (1) can realize a profit or loss, can incur unreimbursed expenses, and makes a time-limited or task-limited agreement; (2) has a principal place of business, does not primarily provide service at a single service recipient's facilities, pays fair rent for the use of the recipient's facilities, or operates primarily with equipment not supplied by the recipient; and (3) if there is a written contract providing that the provider will not be treated as an employee for Federal tax purposes. Considers (in addition) a provider as not an employee if: (1) there is such a written contract; and (2) the provider is a corporation or limited liability company and does not receive benefits that the recipient's employees receive. Regulates the treatment of determinations by the Secretary of the Treasury that a service provider should have been treated as an employee.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 18 March 1997

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 18 March 1997

   Introduced

   Sponsor introductory remarks on measure. (CR S2429-2430)

   Source: IntroReferral

3. 18 March 1997

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 5 June 1997

   Committee

   Subcommittee on Taxation & IRS Oversight. Hearings held. Hearings printed: S.Hrg. 105-907.

   Source: Committee

5. 31 July 1997

   Introduced

   Sponsor introductory remarks on measure. (CR S8471-8472)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 March 1997 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 March 1997

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 March 1997

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 18 March 1997

  Open at official source

Sponsors

• Sen. Bond, Christopher S. [R-MO] · R · Sponsor
• Rep. Snowe, Olympia J. [R-ME-2] · R · Sponsor
• Sen. Nickles, Don [R-OK] · R · Sponsor
• Sen. Burns, Conrad R. [R-MT] · R · Sponsor
• Sen. Warner, John [R-VA] · R · Sponsor
• Sen. Faircloth, Lauch [R-NC] · R · Sponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Sponsor
• Rep. Inhofe, James M. [R-OK-1] · R · Sponsor
• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• Sen. Hutchinson, Tim [R-AR] · R · Sponsor
• Sen. Mack, Connie, III [R-FL] · R · Sponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Sponsor
• Sen. Grams, Rod [R-MN] · R · Sponsor
• Rep. Gregg, Judd [R-NH-2] · R · Cosponsor
• Sen. Hagel, Chuck [R-NE] · R · Cosponsor
• Rep. Cochran, Thad [R-MS-4] · R · Cosponsor
• Sen. Shelby, Richard C. [D-AL] · R · Cosponsor
• Susan Collins · R · Cosponsor
• Rep. Kyl, Jon [R-AZ-4] · R · Cosponsor
• Sen. Gramm, Phil [R-TX] · R · Cosponsor
• Rep. Roberts, Pat [R-KS-1] · R · Cosponsor
• Sen. Ashcroft, John [R-MO] · R · Cosponsor
• Rep. Thomas, Craig [R-WY-At Large] · R · Cosponsor
• Sen. Hutchison, Kay Bailey [R-TX] · R · Cosponsor
• Sen. Helms, Jesse [R-NC] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Coverdell, Paul [R-GA] · R · Cosponsor
• Rep. DeWine, Mike [R-OH-7] · R · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• Sen. Bennett, Robert F. [R-UT] · R · Cosponsor
• Mitch McConnell · R · Cosponsor
• Sen. Coats, Daniel [R-IN] · R · Cosponsor
• Sen. Frist, William H. [R-TN] · R · Cosponsor
• Sen. Sessions, Jeff [R-AL] · R · Cosponsor
• Sen. Gorton, Slade [R-WA] · R · Cosponsor
• Sen. Kempthorne, Dirk [R-ID] · R · Cosponsor
• Rep. Craig, Larry E. [R-ID-1] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Home-Based Business Fairness Act of 1997