Top Law and Government Legislation regarding 'Tax credits' in Federal Government

A bill to provide needed housing reform and for other purposes. 4/10/2008--Passed Senate amended.    (There are 2 other summaries) Foreclosure Prevention Act of 2008 - Title I: FHA Modernization Act of 2008 - FHA Modernization Act of 2008 - Subtitle A: Building American Homeownership - Building American Homeownership Act of 2008 - (Sec. 112) Amends the National Housing Act (NHA) to revise mortgage insurance eligibility requirements. Alters the respective formulas to increase the percentages of the maximum principal loan obligations applicable to family residences located in: (1) the United States; and (2) Alaska, Guam, Hawaii, or the Virgin Islands. Prohibits the maximum principal loan obligation from exceeding 100% of the appraised value of the property. (Sec. 113) Increases from 3% to 3.5% of the appraised value of a property the mortgagor's required cash (or equivalent) investment (downpayment). Prohibits any funds for such [...]

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To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. 5/21/2008--Passed House amended.    (There are 2 other summaries) (This measure has not been amended since it was reported to the House on May 20, 2008. The summary of that version is repeated here.)Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. Title I: Energy Tax Incentives - Subtitle A: Energy Production Incentives - Part I: Renewable Energy Incentives - (Sec. 101) Extends: (1) through 2009 the tax credit for producing electricity from qualified wind facilities; and (2) through 2011 the tax credits for producing electricity [...]

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A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. 5/20/2008--Introduced. Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) impose a windfall profits tax on major integrated oil companies; and (4) establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming. Petroleum Consumer Price Gouging Protection Act - Declares [...]

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To amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes. 6/17/2008--Introduced. Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss; (4) deny major integrated oil companies a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (5) limit tax treaty benefits with respect to U.S. withholding of tax requirements imposed on certain tax deductible payments made directly to a foreign parent corporation; (6) require payment settlement entities to report certain identifying information to the Internal Revenue [...]

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An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2009 and including the appropriate budgetary levels for fiscal years 2008 and 2010 through 2013. 5/20/2008--Conference report filed in House.    (There are 4 other summaries) Sets forth the congressional budget for the federal government for FY2009, including the appropriate budgetary levels for FY2008 and FY2010-FY2013. Title I: Recommended Levels and Amounts - (Sec. 101) Lists recommended budgetary levels and amounts, for FY2008-FY2013, 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. (Sec. 102) Lists the appropriate levels of new budget authority, outlays, and administrative expenses for Social Security, U.S. Postal Service discretionary administrative expenses, and specified major functional [...]

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A bill to amend the Native American Housing Assistance and Self-Determination Act of 1996 to reauthorize that Act, and for other purposes. 5/22/2008--Passed Senate amended.    (There are 2 other summaries) Native American Housing Assistance and Self-determination Reauthorization Act of 2007 - Title I: Block Grants and Grant Requirements - (Sec. 101) Amends the Native American Housing Assistance and Self-determination Act of 1996 (NAHASDA) to expand the authority of Indian tribes to: (1) carry out self-determined housing activities for tribal communities programs; (2) access federal sources of supply on the same basis as employees of an executive agency; and (3) follow tribal preference in contracting and employment.(Sec. 102) Revises reporting requirements for Indian tribes receiving grants under NAHASDA and the standards for review of Indian housing plans by the Secretary of Housing and Urban Development (HUD).(Sec. 104) Disregards [...]

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To amend parts B and E of title IV of the Social Security Act to assist children in foster care in developing or maintaining connections to family, community, support, health care, and school, and for other purposes. 6/24/2008--Passed House amended.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version has been expanded because action occurred on the measure.) Fostering Connections to Success Act - (Sec. 2) Amends Part E (Federal Payments for Foster Care and Adoption Assistance) of title IV of the Social Security Act (SSA) to give state plans the option of providing for the state to enter into agreements to provide kinship guardianship assistance payments to grandparents and other relatives who have assumed legal guardianship of children for whom they have cared as foster parents and for whom they have committed to care on a permanent basis. (Sec. 3) Amends SSA title IV [...]

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To amend the Internal Revenue Code of 1986 to provide benefits for military personnel, and for other purposes. 6/17/2008--Public Law.    (There are 3 other summaries) (This measure has not been amended since it was passed by the House on May 20, 2008. The summary of that version is repeated here.)Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel.Title I: Benefits for Military - (Sec 101) Exempts married taxpayers who file a joint tax return from the identification requirement for the 2008 recovery tax rebate if at least one of the filers is a current member of the Armed Forces.(Sec. 102) Makes permanent the election to treat combat zone compensation as earned income for purposes of the earned income tax credit. (Sec. 103) Makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage [...]

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To amend the Social Security Act to enhance the social security of the Nation by ensuring adequate public-private infrastructure and to resolve to prevent, detect, treat, intervene in, and prosecute elder abuse, neglect, and exploitation, and for other purposes. 3/29/2007--Introduced. Elder Justice Act - Amends the Social Security Act (SSA) to establish an Elder Justice program under title XX (Block Grants to States for Social Services). Establishes within the Office of the Secretary of Health and Human Services (HHS) an Elder Justice Coordinating Council (EJCC). Establishes the Advisory Board on Elder Abuse, Neglect, and Exploitation. Directs the Secretary to make grants to eligible entities to establish stationary and mobile forensic centers, to develop forensic expertise regarding, and provide services relating to, elder abuse, neglect, and exploitation. Directs the Secretary to provide incentives for individuals to train for, seek, and maintain [...]

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A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/6/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liabilities; and (2) the increased AMT exemption amounts. Extends through 2009: (1) the election to deduct state and local sales taxes in lieu of state and local income taxes; (2) the tax deductions for qualified tuition and related expenses and for certain expenses of elementary and secondary school teachers; (3) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes; and (4) tax rules for treatment of [...]

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