| Also tagged in: Administrative procedure, Afghanistan, Apartment houses, Armed forces, Budgets, Condominium (Housing), Congress, Congressional investigations, Congressional reporting requirements, Consumer credit, Consumers, Cooperative housing, Counseling, Damages, Defense policy, Department of the Treasury Latest Action: 03/11/2008 - Star Print ordered on the bill.
Bill TextA bill to aid families and neighborhoods facing home foreclosure and address the subprime mortgage crisis. 3/7/2008--Introduced. Security Against Foreclosures and Education Act, or the SAFE Act - Amends the Internal Revenue Code to allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans. Requires the Neighborhood Reinvestment Corporation to continue to award expeditiously certain funds already provided for mortgage foreclosure counseling. Amends the Code to allow purchasers of certain single-family principal residences a one-time tax credit. Amends the Truth in Lending Act to: (1) revise creditor mortgage loan disclosure requirements; and (2) increase civil damages for noncompliance with such Act. Amends the Code to: (1) allow a five-year carryback of net operating losses for certain taxable years; and (2) suspend through taxable year 2009 the 90% of alternative minimum taxable income limit for certain [...] show full description | | Also tagged in: Access to health care, Administrative procedure, Affordable housing, Afghanistan, Aged, Agricultural subsidies, Agriculture, Aid to dependent children, AIDS (Disease), Alternative energy sources, Animals, Appropriations, Armed forces, Armed forces abroad, Armed forces reserves, Auditing Latest Action: 03/14/2008 - S.AMDT.4380 Amendment SA 4380 agreed to in Senate by Yea-Nay Vote. 41 - 57. Record Vote Number: 79.
Bill TextAn 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. 3/14/2008--Passed Senate amended. (There are 2 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; (5) public debt; 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 categories for FY2008-FY2013.[...] show full description | | Also tagged in: Affordable housing, Afghanistan, Aged, Air pollution, Alternative energy sources, Appropriations, Armed forces, Armed forces abroad, Armed forces reserves, Ballistic missile defenses, Border patrols, Brain, Budget deficits, Budget reconciliation, Budget resolutions, Budget surpluses Latest Action: 03/13/2008 - Considered as unfinished business. (consideration: CR H1627-1659, H1661-1684)
Bill TextRevising the congressional budget for the United States Government for fiscal year 2008, establishing the congressional budget for the United States Government for fiscal year 2009, and setting forth appropriate budgetary levels for fiscal years 2010 through 2013. 3/13/2008--Passed House without amendment. (There are 2 other summaries) (This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.) Revises and replaces the congressional budget for the federal government for FY2008. Sets forth the congressional budget for the federal government for FY2009, including the appropriate budgetary levels for FY2010-FY2013. Title I: Recommended Levels and Amounts - (Sec. 101) Recommends budgetary levels and amounts for FY2008-FY2013 for: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits (on-budget); (5) debt subject to limit; [...] show full description | | Also tagged in: Affordable housing, Appropriations, Bankruptcy, Budgets, Community development, Community development banking, Consumer credit, Consumer education, Consumer protection, Consumers, Counseling, Damages, Debtor and creditor, Federal aid to housing, Fees, Finance Latest Action: 02/14/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 577.
Bill TextA bill to provide needed housing reform. 2/13/2008--Introduced. Foreclosure Prevention Act of 2008 - Amends the Internal Revenue Code to: (1) authorize use of the proceeds of a qualified mortgage bond issue to refinance a mortgage on a residence originally financed through a qualified subprime loan; (2) raise the ceiling and volume cap imposed upon certain state housing bonds; and (3) exclude from the meaning of tax preference item private activity bonds, for purposes of the alternative minimum tax, qualified mortgage bonds or veterans' mortgage bonds issued after enactment of this Act and before January 1, 2011. Makes FY2008 appropriations for: (1) emergency needs of states and local governmental units to redevelop certain abandoned and foreclosed homes; and (2) the Neighborhood Reinvestment Corporation for foreclosure mitigation activities, including grants for housing counseling. Helping Families Save Their Homes in Bankruptcy Act of 2008 - Authorizes a bankruptcy [...] show full description | | Also tagged in: Budgets, Construction costs, Education, Elementary and secondary education, Federal aid to Indians, Finance, Income tax, Indian education, Indians, Maintenance and repair, Minorities, School buildings, Tax credits, Taxation Latest Action: 11/15/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to provide for the issuance of bonds to provide funding for the construction of schools of the Bureau of Indian Affairs, and for other purposes. 11/15/2007--Introduced. Indian School Construction Act - Directs the Secretary of the Interior to establish a pilot program under which eligible Indian tribes have the authority to issue tribal school modernization bonds to provide funds for the construction, rehabilitation, and repair of tribal schools, including advance planning and design.Permits a tribe to use amounts received through a bond issue to enter contracts: (1) for the design and engineering of the school; and (2) with financial advisors, underwriters, attorneys, trustees, and other professionals to provide assistance to the tribe in issuing bonds.Makes any tribal school modernization bond issued by a tribe subject to a trust agreement. Authorizes the Secretary to deposit not more than $50 million into a tribal school modernization escrow account [...] show full description | | Also tagged in: Budgets, Construction costs, Education, Elementary and secondary education, Federal aid to Indians, Finance, Income tax, Indian education, Indians, Maintenance and repair, Minorities, School buildings, Tax credits, Taxation Latest Action: 02/05/2008 - Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Bill TextTo provide for the issuance of bonds to provide funding for the construction of schools of the Bureau of Indian Affairs, and for other purposes. 11/15/2007--Introduced. Indian School Construction Act - Directs the Secretary of the Interior to establish a pilot program under which eligible Indian tribes have the authority to issue tribal school modernization bonds to provide funds for the construction, rehabilitation, and repair of tribal schools, including advance planning and design.Permits a tribe to use amounts received through a bond issue to enter contracts: (1) for the design and engineering of the school; and (2) with financial advisors, underwriters, attorneys, trustees, and other professionals to provide assistance to the tribe in issuing bonds.Makes any tribal school modernization bond issued by a tribe subject to a trust agreement. Authorizes the Secretary to deposit not more than $50 million into a tribal school modernization escrow account and to [...] show full description | | Also tagged in: Air pollution, Air traffic control, Airline employees, Airline passenger traffic, Airports, Alcohol as fuel, Appropriations, Aviation fuels, Biomass energy, Bridges, Budgets, Business, Collection of accounts, Corporation taxes, Diesel motor, Energy Latest Action: 11/13/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-228. Additional views filed.
Bill TextAn original bill to amend the Internal Revenue Code of 1986 and to extend the financing for the Airport and Airway Trust Fund, and for other purposes. 11/13/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)American Infrastructure Investment and Improvement Act of 2007 - Title I: Airport And Airway Trust Fund Provisions And Related Taxes - (Sec. 101) Amends the Internal Revenue Code to extend through FY2011 the excise taxes on aviation fuels and the transportation of persons and property by air.(Sec. 102) Extends through FY2011 the expenditure authority for the Airport and Airway Trust Fund.(Sec. 103) Imposes an excise tax on aviation-grade kerosene of 35.9 cents per gallon (4.3 cents per gallon for fuel used in commercial aviation). (Sec. 104) Increases to $16.[...] show full description | | Also tagged in: Alaska, Finance, Housing, Income tax, Mortgages, Oregon, Tax exemption, Taxation, Veterans, Veterans' loans, Wisconsin Latest Action: 10/31/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to increase the limitation on the issuance of qualified veterans' mortgage bonds for Alaska, Oregon, and Wisconsin and to modify the definition of qualified veteran. 10/31/2007--Introduced. Amends the Internal Revenue Code to: (1) increase to $100 million the veterans mortgage bond limitation in Alaska, Oregon, and Wisconsin; (2) eliminate the phase-in of the bond limitation; and (3) revise the definition of "qualified veteran" for mortgage bond financing eligibility purposes to make such definition applicable to veterans in all states. | | Also tagged in: Armed forces, Business, Capital gains tax, College costs, Defense policy, Disabled, Earned income tax credit, Education, Education savings accounts, Emergency management, Expatriation, Finance, Fire fighters, Gift tax, Government life insurance, Health insurance Latest Action: 12/20/2007 - Message on Senate action sent to the House.
Bill TextAn Act to amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnel, and for other purposes. 12/19/2007--Senate agreed to House amendment with amendment. (There are 4 other summaries) Defenders of Freedom Tax Relief Act of 2007 - Amends the Internal Revenue Code to provide tax relief and earnings assistance to members of the uniformed services, increase penalties for noncompliance with tax requirements, and make technical amendments and clerical corrections.Title I: Benefits for Military - (Sec. 101) Makes permanent the taxpayer election to include combat zone compensation as earned income for purposes of computing the earned income tax credit. (Sec. 102) Makes permanent the eligibility of veterans for mortgage bond financing of residences without regard to first-time homebuyer requirements. Increases to $100 million the veterans' mortgage bond limitation in Alaska, Oregon, and Wisconsin.[...] show full description | | Also tagged in: Agricultural chemicals, Agricultural conservation, Agricultural credit, Agricultural industries, Agricultural machinery, Agricultural subsidies, Agriculture, Air pollution, Alcohol as fuel, Alternative energy sources, Animals, Biomass energy, Broadband, Brownfields, Budgets, Business Latest Action: 10/25/2007 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 446.
Bill TextAn original bill to amend the Trade Act of 1974 to establish supplemental agricultural disaster assistance and to amend the Internal Revenue Code of 1986 to provide tax incentives for conservation and alternative energy sources and to provide tax relief for farmers, and for other purposes. 10/25/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)Heartland, Habitat, Harvest, and Horticulture Act of 2007 - Title I: Supplemental Agricultural Disaster Assistance from the Agricultural Disaster Relief Trust Fund - (Sec. 101) Amends the Trade Act of 1974 to establish a program of supplemental agricultural disaster assistance. Establishes an Agriculture Disaster Relief Trust Fund to provide payments to farmers and ranchers who suffer losses in areas declared as disaster areas by the [...] show full description | | Also tagged in: Administrative remedies, Aged, Agriculture, Alien labor, Brownfields, Business, Department of Commerce, Department of Labor, Dislocated workers, Employee rights, Environmental protection, Executive departments, Executive reorganization, Farmers, Finance, Government employees Latest Action: 11/08/2007 - Referred to the Subcommittee on Health.
Bill TextTo amend the Trade Act of 1974 to reauthorize trade adjustment assistance, to extend trade adjustment assistance to service workers and firms, and for other purposes. 10/31/2007--Passed House amended. (There is 1 other summary) Trade and Globalization Assistance Act of 2007 - Title I: Trade Adjustment Assistance for Workers - Subtitle A: Trade Adjustment Assistance for Service Sector Workers; Expansion of Covered Shifts in Production; Expansion of Downstream Secondary Worker Eligibility - (Sec. 101) Amends the Trade Act of 1974 (the Act) to allow the filing of a petition with the Secretary of Labor for certification of eligibility to apply for trade adjustment assistance (TAA) by adversely affected workers in a service sector firm or a public agency. Revises group eligibility requirements for TAA to cover: (1) a shift, by such workers' firm or subdivision to a foreign country, of production of articles or in provision of services, like [...] show full description | | Also tagged in: Architecture and the disabled, Asbestos, Budgets, Building construction, Business, Charter schools, Children, Competitive bidding, Congressional investigations, Congressional reporting requirements, Construction costs, Cost accounting, Data banks, Disabled, Education, Education of the disadvantaged Latest Action: 10/18/2007 - Referred to the House Committee on Education and Labor.
Bill TextTo amend part D of title V of the Elementary and Secondary Education Act of 1965 to provide grants for the renovation of schools. 10/18/2007--Introduced. Public School Repair and Renovation Act of 2007 - Amends the Elementary and Secondary Education Act of 1965 (ESEA) to direct the Secretary of Education to allocate funds to states for competitive school repair and renovation grants to local educational agencies (LEAs). Requires each state, in awarding such grants, to: (1) award high-need and rural LEAs, in the aggregate, at least the same proportion of this Act's LEA funds for the state that they received of total LEA school improvement funds for the state under part A of title I of the ESEA; and (2) consider the percentage of poor children LEAs serve, the condition of their public schools, and their fiscal capacity to cover repairs and renovations without such a grant. Directs each state to reserve a portion of their allocation for a state-level database of [...] show full description | | Also tagged in: Annuities, Budgets, Business, Capital gains tax, Construction costs, Dividends, Executive departments, Federally-guaranteed loans, Finance, Government corporations, Government lending, Income tax, Infrastructure, Infrastructure (Economics), Interest, Mutual funds Latest Action: 10/19/2007 - Referred to the Subcommittee on Aviation.
Bill TextTo facilitate efficient investments and financing of infrastructure projects and new job creation through the establishment of a National Infrastructure Development Corporation, and for other purposes. 10/18/2007--Introduced. National Infrastructure Development Act of 2007 - Establishes the National Infrastructure Development Corporation and the National Infrastructure Insurance Corporation as wholly owned Government corporations that shall conduct their respective businesses as self-supporting entities. Empowers the National Infrastructure Development Corporation to: (1) make senior and subordinated loans and purchase senior and subordinated debt securities and equity securities; (2) enter into commitments to make any such loan or security purchases, on such terms as the Corporation may (in its discretion) determine to be appropriate, the proceeds of which are to be used to finance or refinance development of infrastructure facilities; and (3) provide preconstruction [...] show full description | | Latest Action: 10/18/2007 - Sponsor introductory remarks on measure. (CR S13090)
Bill TextA bill to authorize the use of Federal funds for flexible financing of Indian tribal municipal, rural, and industrial water system construction projects by certain federally recognized Indian tribes. 10/18/2007--Introduced. Tribal Water Resources Innovative Financing Act - Authorizes the Secretary of the Interior to reimburse an Indian tribe for specified expenses and costs incurred by the tribe with respect to an eligible debt financing instrument. Defines "eligible debt financing instrument" to mean a bond or other debt financing instrument (including a note, certificate, mortgage, or lease agreement) issued by an Indian tribe, the proceeds of which are used for construction of an authorized Indian tribal municipal, rural, or industrial water project. Allows the Secretary to reimburse an Indian tribe for a project funded by an eligible debt financing instrument if the project is being carried out by the Indian tribe pursuant to a contract or cooperative [...] show full description | | Also tagged in: Administrative procedure, Apartment houses, Budgets, Congressional reporting requirements, Department of Agriculture, Executive departments, Federally-guaranteed loans, Finance, Government lending, Housing, Housing finance, Housing subsidies, Income tax, Law, Low-income housing, Moderate income housing Latest Action: 01/24/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill TextTo expedite the transfer of ownership of rural multifamily housing projects with loans made or insured under section 515 of the Housing Act of 1949 so that such projects are rehabilitated and preserved for use for affordable housing. 1/23/2008--Passed House without amendment. (There are 2 other summaries) (This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)Section 515 Rural Housing Property Transfer Improvement Act of 2007 - Amends the Housing Act of 1949 to direct the Secretary of Agriculture to: (1) implement administrative and procedural changes to expedite the application approval process for transferring ownership of Section 515 rural multifamily housing projects for which a loan is either made or insured for a project's preservation, continued use restriction, and rehabilitation; and (2) actively facilitate such transfers. (A Section 515 project is one involving [...] show full description | | Also tagged in: Armed forces, Defense policy, Finance, Housing, Housing finance, Income tax, Individual retirement accounts, Military personnel, Mortgages, Pensions, Tax exemption, Tax penalties, Tax-deferred compensation plans, Taxation, Veterans, Veterans' benefits Latest Action: 10/10/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to extend for 1 year the authority for individuals called to active duty to make penalty-free withdrawals from retirement plans and for the use of tax-exempt bonds to finance homes for veterans without regard to the first-time homebuyer requirement. 10/10/2007--Introduced. Military Financial Assistance Act of 2007 - Amends the Internal Revenue Code to extend through 2008: (1) the exemption from tax penalties for withdrawals from retirement plans made by active duty military personnel; and (2) mortgage revenue bond issuance authority for financing of home purchases by veterans. | | Latest Action: 10/10/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to make improvements to assist young farmers and ranchers. 10/10/2007--Introduced. Agricultural Bond Improvement Act of 2007 - Amends the Internal Revenue Code to: (1) exempt agricultural bonds from the volume cap applicable to private activity bonds; (2) increase the loan limit on agricultural bonds to $450,000 and index such amount for inflation after 2007; and (3) eliminate the dollar limitation in the definition of substantial farmland used for agricultural bonds. | | Latest Action: 10/03/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to make permanent the use of qualified mortgage bonds to finance residences for veterans without regard to the first-time homebuyer requirement. 10/3/2007--Introduced. Amends the Internal Revenue Code to make permanent the use of tax-exempt mortgage revenue bonds to finance the purchase of residences for veterans who are exempt from prior homeownership requirements. | | Also tagged in: Armed forces, Defense policy, Earned income tax credit, Finance, Home ownership, Housing, Housing finance, Income tax, Military pay, Military personnel, Mortgages, Taxation, Veterans, Veterans' benefits, Welfare, Welfare eligibility Latest Action: 09/20/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to extend for 4 years the election to include combat pay as earned income for purposes of the earned income credit and the use of qualified mortgage bonds to finance residences for veterans without regard to first-time homebuyer requirement. 9/20/2007--Introduced. Providing Tax Fairness for Service Members and Veterans Act of 2007 - Amends the Internal Revenue Code to extend through 2011: (1) the taxpayer election to include combat pay as earned income for purposes of computing the earned income tax credit; and (2) eligibility of veterans for mortgage financing without regard to first-time homebuyer requirements. | | Also tagged in: Books, Building construction, Charitable contributions, Charities, College costs, Computers, Construction costs, Costs, Education, Educational technology, Elementary and secondary education, Elementary education, Finance, Higher education, Humanities, Income tax Latest Action: 09/20/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to extend certain expiring provisions relating to education. 9/20/2007--Introduced. Enhancing Education through Tax Relief Act of 2007 - Amends the Internal Revenue Code to extend through 2011: (1) the tax deduction for certain expenses of elementary and secondary school teachers; (2) the expanded tax deduction for charitable contributions of book inventories to public schools; (3) the expanded tax deduction for charitable contributions of computer technology or equipment to schools, charities, and public libraries; (4) the tax credit for holders of qualified zone academy bonds; and (5) the tax deduction for qualified tuition and related expenses. | | Also tagged in: Administrative procedure, Affiliated corporations, Air pollution, Air pollution control, Armed forces, Armed forces reserves, Authorization, Budgets, Business, Capital, Congress, Congressional reporting requirements, Data banks, Defense policy, Depressed areas, Electronic government information Latest Action: 09/28/2007 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Bill TextTo amend the Small Business Investment Act of 1958 to expand opportunities for investments in small businesses, and for other purposes. 9/27/2007--Passed House amended. (There are 2 other summaries) Small Business Investment Expansion Act of 2007 - Title I: Small Business Investment Company Program - (Sec. 101) Amends the Small Business Investment Act of 1958 to increase the maximum amounts of outstanding leverage made available by the Small Business Administration (SBA) to: (1) any one small business investment company (SBIC) which provides loans to small businesses; and (2) two or more SBICs that are commonly controlled. (Sec. 102) Increases the total amount of debentures and participating securities issued by an SBIC that may be guaranteed by the SBA in the case of an SBIC that certifies that not less than 50% of its aggregate investments will be made in small businesses that are either: (1) majority owned by socially or economically [...] show full description | | Also tagged in: Airports, Bridges, Budgets, Capital investments, Congress, Congressional reporting requirements, Dams, Economic development, Economic growth, Economic impact statements, Economic policy, Environmental protection, Excise tax, Executive departments, Federal advisory bodies, Government information Latest Action: 09/17/2007 - Referred to the Subcommittee on Aviation.
Bill TextTo establish a National Commission on the Infrastructure of the United States. 9/14/2007--Introduced. National Infrastructure Improvement Act of 2007 - Establishes: (1) the National Commission on the Infrastructure of the United States to ensure that U.S. infrastructure meets current and future demand and facilitates economic growth; and (2) an advisory group, which shall include specified Cabinet level officials, to provide assistance and advice to the Commission.Requires the Commission to study the state of U.S. infrastructure, including such matters as: (1) the capacity of infrastructure improvements to sustain economic development and competitiveness and to support a sustained and expanding economy; (2) the age and condition of public infrastructure; (3) the methods used to finance the construction, acquisition, rehabilitation, and maintenance of public works improvements; (4) investment requirements needed to maintain and to improve facilities and the projected [...] show full description | | Also tagged in: Administrative fees, Banks and banking, Bridges, Budgets, Business, Corporations, Customs administration, Finance, Government trust funds, Harbors, Highway finance, Income tax, Infrastructure, Inland water transportation, Investment of public funds, Law Latest Action: 09/06/2007 - Sponsor introductory remarks on measure. (CR S11215-11216)
Bill TextA bill to provide $50,000,000,000 in new transportation infrastructure funding through bonding to empower States and local governments to complete significant infrastructure projects across all modes of transportation, including roads, bridges, rail and transit systems, ports, and inland waterways, and for other purposes. 9/6/2007--Introduced. Build America Bonds Act of 2007 - Amends the Internal Revenue Code to allow an income tax credit to a taxpayer holding a Build America bond on one or more of its credit allowance dates. Defines a "Build America bond" as any bond issued by the Transportation Finance Corporation as part of an issue if 95% or more of the proceeds from such issue are to be used for expenditures incurred for one or more qualified projects. Requires proceeds from the sale of bonds issued under this Act to be held in a Build America Bonds Trust Account. Defines "qualified project" as the capital improvements to any transportation [...] show full description | | Also tagged in: Capital investments, Environmental protection, Finance, Groundwater, Income tax, Infrastructure, Saline waters, Tax credits, Taxation, Waste water treatment, Water pollution, Water pollution control, Water purification, Water reuse, Water supply, Water treatment plants Latest Action: 08/04/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to allow a credit with respect to clean renewable water supply bonds. 8/4/2007--Introduced. Amends the Internal Revenue Code to allow holders of clean renewable water supply bonds a tax credit of 25% of the annual credit amount as determined by the Secretary of the Treasury. Defines "clean renewable water supply bond" as any bond issued by a governmental body or an entity qualified to issue tax-exempt bonds that is used for capital expenditures for projects involving a qualified desalination facility, a recycled water facility, or a groundwater remediation facility. Sets forth rules for maturity limitations, arbitrage, and expenditures, including a requirement that 95% of the proceeds of a bond issue be spent on one or more clean renewable water supply projects within five years from the date of a bond issuance. | | Also tagged in: Animals, Capital gains tax, Conservation easements, Environmental protection, Finance, Forest conservation, Forest ecology, Forest health, Habitat conservation, Income tax, Land transfers, Natural resources, Tax credits, Tax deductions, Tax exclusion, Tax exemption Latest Action: 08/04/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo provide a Federal tax exemption for forest conservation bonds, and for other purposes. 8/4/2007--Introduced. Community Forestry Conservation Act of 2007 - Provides for the treatment of qualified forest conservation bonds as tax-exempt facility bonds under the Internal Revenue Code. Defines "qualified forest conservation bonds" as bonds issued for certain forestry organizations within 36 months after the enactment of this Act. Requires 95% or more of the net proceeds of such bonds to be used for specified forestry project costs, including the acquisition of forest lands subject to a conservation restriction. Exempts from income tax income, gains, and other tax incidents generated by certain harvesting activity on forest lands purchased with qualified forest conservation bonds. | | Also tagged in: Airports, Bridges, Budgets, Capital investments, Congress, Congressional reporting requirements, Dams, Economic development, Economic growth, Economic impact statements, Economic policy, Environmental protection, Excise tax, Executive departments, Federal advisory bodies, Government information Latest Action: 08/04/2007 - Referred to the Subcommittee on Aviation.
Bill TextTo establish a National Commission on the Infrastructure of the United States. 8/3/2007--Introduced. National Infrastructure Improvement Act of 2007 - Establishes the National Commission on the Infrastructure of the United States to ensure that U.S. infrastructure meets current and future demand, facilitates economic growth, and is maintained in a manner that ensures public safety. Requires the Commission to study the state of U.S. infrastructure, including such matters as: (1) the capacity of infrastructure to sustain economic development and competitiveness; (2) the age and condition of infrastructure; (3) the methods used to finance the construction, acquisition, rehabilitation, and maintenance of infrastructure; (4) investment requirements needed to maintain and to improve infrastructure, including projected investment requirements and expenditures on infrastructure by federal, state, and local governments; (5) the impact of local development patterns on demand [...] show full description | | Also tagged in: Alternative energy sources, Automobile industry, Business, Electric vehicles, Energy, Finance, Income tax, Industrial buildings, Tax exemption, Taxation, Transportation Latest Action: 08/03/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to provide for alternative motor vehicle facility bonds. 8/3/2007--Introduced. Amends the Internal Revenue Code to allow the issuance of tax-exempt facility bonds through 2012 to make automobile development and production facilities built before 1981 compatible for the development and production of qualified alternative motor vehicles and component parts. | | Also tagged in: Business, Capital gains tax, Depreciation and amortization, Disaster relief, Emergency management, Employment, Energy, Finance, Floods, Housing, Income, Income tax, Individual retirement accounts, Kansas, Labor, Landlord and tenant Latest Action: 09/05/2007 - Sponsor introductory remarks on measure. (CR H10099-10100)
Bill TextTo extend tax relief to the residents and businesses of an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1711-DR) by reason of severe storms and flooding beginning on June 26, 2007, and determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act. 8/3/2007--Introduced. Kansas Flood Recovery and Economic Opportunity Act of 2007 - Establishes the federal share of assistance for the state of Kansas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act for the storms and flooding in that state between June 26, 2007, and July 25, 2007, at 100% of eligible costs. Extends to certain areas in Kansas declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1711-DR, as in effect on the date of [...] show full description | | Also tagged in: Banks and banking, Budgets, Congress, Congressional investigations, Congressional reporting requirements, Data banks, Environmental protection, Executive departments, Executive reorganization, Federal aid to housing, Federal aid to transportation, Federal aid to water resources development, Federally-guaranteed loans, Finance, Government lending, Government securities Latest Action: 08/04/2007 - Referred to the Subcommittee on Highways and Transit.
Bill TextTo establish the National Infrastructure Bank to provide funding for qualified infrastructure projects, and for other purposes. 8/3/2007--Introduced. National Infrastructure Bank Act of 2007 - Establishes an independent National Infrastructure Bank to: (1) designate qualified transit, public housing, water, highway, bridge, or road infrastructure projects for loans, loan guarantees, and other financial assistance; and (2) issue general purpose and project-based infrastructure bonds exempt from state and local taxation. | | Also tagged in: Architecture and the disabled, Asbestos, Budgets, Building construction, Business, Charter schools, Children, Competitive bidding, Congressional investigations, Congressional reporting requirements, Construction costs, Cost accounting, Data banks, Disabled, Education, Education of the disadvantaged Latest Action: 08/02/2007 - Sponsor introductory remarks on measure. (CR S10792-10793)
Bill TextA bill to amend part D of title V of the Elementary and Secondary Education Act of 1965 to provide grants for the renovation of schools. 8/2/2007--Introduced. Public School Repair and Renovation Act of 2007 - Amends the Elementary and Secondary Education Act of 1965 (ESEA) to direct the Secretary of Education to allocate funds to states for competitive school repair and renovation grants to local educational agencies (LEAs). Requires each state, in awarding such grants, to: (1) award high-need and rural LEAs, in the aggregate, at least the same proportion of this Act's LEA funds for the state that they received of total LEA school improvement funds for the state under part A of Title I of the ESEA; and (2) consider the percentage of poor children LEAs serve, the condition of their public schools, and their fiscal capacity to cover repairs and renovations without such a grant. Directs each state to reserve a portion of their allocation for a state-level database [...] show full description | | Also tagged in: Animals, Capital gains tax, Conservation easements, Environmental protection, Finance, Forest conservation, Forest ecology, Forest health, Habitat conservation, Income tax, Land transfers, Natural resources, Tax credits, Tax deductions, Tax exclusion, Tax exemption Latest Action: 08/02/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to provide a Federal tax exemption for forest conservation bonds, and for other purposes. 8/2/2007--Introduced. Community Forestry Conservation Act of 2007- Provides for the treatment of qualified forest conservation bonds as tax-exempt facility bonds under the Internal Revenue Code. Defines "qualified forest conservation bonds" as bonds issued for certain forestry organizations within 36 months after the enactment of this Act. Requires 95 percent or more of the net proceeds of such bonds to be used for specified forestry project costs, including the acquisition of forest lands subject to a conservation restriction. Exempts from income tax income, gains, and other tax incidents generated by certain harvesting activity on forest lands purchased with qualified forest conservation bonds. | | Latest Action: 08/02/2007 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10806)
Bill TextA bill to amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds. 8/2/2007--Introduced. Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income). | | Also tagged in: Budgets, Environmental protection, Federal aid to water pollution control, Finance, Income tax, Potable water, Revolving funds, Tax exemption, Taxation, Water pollution, Water resources Latest Action: 08/01/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants and State matching funds in connection with revolving funds established in accordance with the Federal Water Pollution Control Act and the Safe Drinking Water Act will not be treated as proceeds or replacement proceeds for purposes of section 148 of such Code. 8/1/2007--Introduced. Amends the Internal Revenue Code to exclude any amount derived from an investment of federal grant or related state matching amounts made in connection with any revolving fund established under the Federal Water Pollution Control Act or the Safe Drinking Water Act from a determination of whether a bond is an arbitrage bond (thus allowing states to retain arbitrage earnings from state revolving loan funds). | | Also tagged in: Banks and banking, Budgets, Congress, Congressional investigations, Congressional reporting requirements, Data banks, Environmental protection, Executive departments, Executive reorganization, Federal aid to housing, Federal aid to transportation, Federal aid to water resources development, Federally-guaranteed loans, Finance, Government lending, Government securities Latest Action: 03/11/2008 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
Bill TextA bill to establish the National Infrastructure Bank to provide funding for qualified infrastructure projects, and for other purposes. 8/1/2007--Introduced. National Infrastructure Bank Act of 2007 - Establishes an independent National Infrastructure Bank to: (1) designate qualified transit, public housing, water, highway, bridge, or road infrastructure projects for loans, loan guarantees, and other financial assistance; and (2) issue general purpose and project-based infrastructure bonds exempt from state and local taxation. | | Also tagged in: Administrative fees, Administrative procedure, Afghanistan, Aged, Agriculture, Air conditioning, Air pollution, Air travel, Alaska, Alcohol as fuel, Algae, Alternative energy sources, American investments, Animals, Apartment houses, Appropriations Latest Action: 05/08/2008 - Mr. Frank (MA) moved that the House agree with amendments to the Senate amendments. (consideration: CR H3204-3308; text as House agreed to Senate amendments with amendments: CR H3219-3282)
Bill TextA 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 [...] show full description | | Also tagged in: Administrative fees, Administrative procedure, Agriculture, Air conditioning, Air pollution, Air travel, Alaska, Alcohol as fuel, Algae, Alternative energy sources, American investments, Animals, Auditing, Authorization, Automobile engines, Automobile industry Latest Action: 09/19/2007 - Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Bill TextMoving the United States toward greater energy independence and security, developing innovative new technologies, reducing carbon emissions, creating green jobs, protecting consumers, increasing clean renewable energy production, and modernizing our energy infrastructure. 7/30/2007--Introduced. New Direction for Energy Independence, National Security, and Consumer Protection Act - Incorporates various legislative initiatives for energy conservation, independence, and security.Green Jobs Act of 2007 - Amends the Workforce Investment Act of 1998 to direct the Secretary of Labor to: (1) establish an energy efficiency and renewable energy worker training program; (2) collect and analyze labor market data to track workforce trends resulting from energy-related initiatives under this Act; and (3) award National Energy Training Partnerships Grants to community based nonprofit organizations to carry out training programs that lead to economic self-sufficiency and develop an [...] show full description | | Latest Action: 07/24/2007 - Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the commit
Bill TextTo amend the Internal Revenue Code of 1986 to provide for the treatment of Indian tribal governments as State governments for purposes of issuing tax-exempt governmental bonds, and for other purposes. 7/24/2007--Introduced. Tribal Government Tax-Exempt Bond Parity Act of 2007 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government or subdivision if: (1) at least 95 percent of the net proceeds are used to finance facilities on an Indian reservation; or (2) the obligation is part of an issue substantially all of whose proceeds are to be used in the exercise of an essential government function. Excludes an obligation used to finance any part of a building in which class II or III gaming is conducted or housed or any other property actually used in the conduct of such gaming. Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision from registration requirements. | | Latest Action: 07/23/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to provide for the treatment of Indian tribal governments as State governments for purposes of issuing tax-exempt governmental bonds, and for other purposes. 7/23/2007--Introduced. Tribal Government Tax-Exempt Bond Parity Act of 2007 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government or subdivision if: (1) at least 95 percent of the net proceeds are used to finance facilities on the Indian reservation of such Indian tribal government; or (2) the obligation is part of an issue substantially all of whose proceeds are to be used in the exercise of an essential government function. Excludes an obligation used to finance any part of a building in which class II or III gaming is conducted or housed or any other property actually used in the conduct of such gaming. Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision [...] show full description | | Also tagged in: Administrative procedure, Air pollution, Air pollution control, Alaska, Animals, Budgets, Carbon dioxide, Coastal zone, Continental shelf, Department of the Treasury, Depreciation and amortization, Easements, Electric power production, Energy, Energy transportation, Environmental protection Latest Action: 07/23/2007 - Referred to the Subcommittee on Energy and Mineral Resources.
Bill TextTo secure unrestricted reliable energy for American consumption and transmission. 7/18/2007--Introduced. No More Excuses Energy Act of 2007 - Requires the Secretary of the Treasury to prescribe regulations for the taxpayer election to expense the cost of certain refinery property not later than 60 days after the enactment of this Act. Amends the Internal Revenue Code to: (1) allow the issuance of tax exempt facility bonds for the financing of domestic use oil refinery facilities; (2) extend through 2018 the tax credit for producing electricity from wind facilities; and (3) allow tax credits for the production of electricity from nuclear energy, natural gas production, and carbon dioxide tertiary injectant processes.Requires the President to designate at least 10 sites for oil or natural gas refineries on federal lands and make such sites available to the private sector for construction of refineries. Prohibits the Nuclear Regulatory Commission from denying [...] show full description | | Also tagged in: Abortion, Access to health care, Actions and defenses, Administrative procedure, Aged, Ambulances, Ambulatory care, Auditing, Birth control, Breast cancer, Budgets, Business, Capital budgets, Capitation (Medical care), Case management, Charitable contributions Latest Action: 09/11/2007 - Referred to the Subcommittee on Workforce Protections.
Bill TextTo establish a United States Health Service to provide high quality comprehensive health care for all Americans and to overcome the deficiencies in the present system of health care delivery. 7/11/2007--Introduced. Josephine Butler United States Health Service Act - Establishes the United States Health Service as an independent executive branch entity to provide health care and supplemental health services to all individuals within the United States. Requires the President to appoint members to a National Health Board to exercise the authority of the Service. Establishes an Office of the Inspector General for Health Services. Requires the Service to ensure that every individual is given certain basic health rights, including the right to receive high quality care and supplemental services from any facility within the Service capable of providing such services without charge and without discrimination. Amends the Fair Labor Standards Act of 1938 to provide [...] show full description | | Also tagged in: Annuities, Business, Capital gains tax, Depreciation and amortization, Disaster relief, Dislocated workers, Emergency management, Energy, Finance, Housing, Income tax, Individual retirement accounts, Kansas, Labor, Losses, Pensions Latest Action: 06/28/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo extend tax relief to the residents and businesses of an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1699-DR) by reason of severe storms and tornados beginning on May 4, 2007, and determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act. 6/28/2007--Introduced. Kansas Disaster Tax Relief Assistance Act - Extends to businesses and individuals in certain Kansas counties declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1699-DR, as in effect on the date of enactment of this Act) by reason of severe storms and tornados beginning on May 4, 2007, provisions of the Internal Revenue Code allowing: (1) suspension of certain limitations on personal casualty losses; (2) an extension of the period for replacing [...] show full description | | Also tagged in: Air pollution, Air pollution control, Environmental protection, Environmental technology, Equipment and supplies, Finance, Income tax, Sewerage, Solid wastes, Taxation, Technology, Water pollution, Water pollution control Latest Action: 06/21/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo permit the issuance of tax-exempt bonds for air and water pollution control facilities. 6/21/2007--Introduced. Clean Air and Water Investment Act of 2007 - Amends the Internal Revenue Code to include air and water pollution control facilities among the projects for which tax exempt facility bonds may be issued. Defines such facilities as any property: (1) to be used to abate or control water or atmospheric pollution or contamination by removing, altering, disposing, or storing pollutants, contaminants, wastes, or heat; (2) which is either land or of a character subject to the allowance for depreciation; and (3) that a federal, state, or local agency has certified is designed for abating or controlling atmospheric or water pollution or for meeting local requirements for controlling such pollution. Provides that a water pollution control facility includes the necessary intercepting sewers, pumping, power, and other equipment, and their appurtenances. Makes this [...] show full description | | Also tagged in: Agriculture, Air pollution, Alcohol as fuel, Alternative energy sources, Automobiles, Bicycles, Biomass energy, Budgets, Business, Carbon cycle, Carbon dioxide, Cellulose, Climate change, Communications, Commuting, Congressional reporting requirements Latest Action: 08/04/2007 - Rule provides for consideration of H.R. 3221 with 2 hours of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be read by paragraph. Bill is op
Bill TextTo amend the Internal Revenue Code of 1986 to provide tax incentives for the production of renewable energy and energy conservation. 8/4/2007--Passed House amended. (There are 2 other summaries) Renewable Energy and Energy Conservation Tax Act of 2007 - Amends Internal Revenue Code provisions relating to renewable energy sources and energy conservation. Title I: Production Incentives - (Sec. 101) Extends through 2012 the tax credit for the production of electricity from renewable resources (e.g., wind, closed and open-loop biomass, geothermal energy, small irrigation power, municipal solid waste, and qualified hydropower). Imposes a limit on such tax credit based upon investment in renewable resource facilities placed in service after 2008 in lieu of the current phaseout provisions for such credit.(Sec. 102) Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of the tax credit for producing electricity [...] show full description | | Also tagged in: Academic freedom, Academic performance, Accreditation (Education), Actions and defenses, Administrative procedure, Agricultural labor, Agriculture, Alaska, Alcohol and youth, Alcoholism, Americans in foreign countries, Animals, Apprenticeship, Archives, Area studies, Arizona Latest Action: 11/15/2007 - By Senator Kennedy from Committee on Health, Education, Labor, and Pensions filed written report. Report No. 110-231.
Bill TextA bill to extend the authorization of programs under the Higher Education Act of 1965, and for other purposes. 7/24/2007--Passed Senate amended. (There are 2 other summaries) Higher Education Amendments of 2007 - Amends the Higher Education Act of 1965 (HEA) to revise HEA programs and to extend the authorization of appropriations for them through FY2013. Title I: General Provisions - (Sec. 101) Adds definitions of a critical foreign language, distance education, and poverty line. Provides that critical foreign languages are those contained on the list designated by the Secretary of Education in the Federal Register on August 5, 1985, but allows the Secretary to set language priorities according to the purposes of a specific program and national security, economic competitiveness, and educational needs. States that poverty line refers to the poverty line applicable to a family of the size involved. (Sec. 102) Revises [...] show full description | | Also tagged in: Construction costs, Economic policy, Enterprise zones, Finance, Income tax, Labor, Residence requirements, Rural affairs, Rural economic development, Tax credits, Tax deductions, Tax exemption, Taxation, Urban affairs, Wages Latest Action: 06/14/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to extend and expand the benefits for businesses operating in empowerment zones, enterprise communities, or renewal communities, and for other purposes. 6/14/2007--Introduced. Empowerment Zone and Renewal Community Enhancement Act of 2007 - Amends Internal Revenue Code provisions relating to tax-preferred empowerment zones, rural enterprise communities, and renewal communities to: (1) extend the period of designation for such areas through 2015; (2) provide a safe harbor standard for employee residency requirements in empowerment zones; (3) eliminate certain residency requirements for the empowerment zone employment tax credit; (4) grant authority to expand the boundaries of empowerment zones and enterprise communities, including those located in rural areas; (5) allow carryovers of unused expensing allowances for enterprise zone businesses; (6) allow certain empowerment zone businesses to elect to receive payments in lieu [...] show full description | | Latest Action: 06/14/2007 - Sponsor introductory remarks on measure. (CR S7748)
Bill TextA bill to amend the Internal Revenue Code of 1986 to exclude certain tax-exempt financing of electric transmission facilities from the private business use test. 6/14/2007--Introduced. Amends the Internal Revenue Code to exempt, for five years after the enactment of this Act, nongovernmental operators or users of electric transmission facilities from the private business use test for tax-exempt financing of such facilities. | | Also tagged in: Armed forces, Business, Capital gains tax, Citizenship, Defense policy, Disability evaluation, Disabled, Earned income tax credit, Expatriation, Families, Finance, Gifts, Housing, Housing finance, Immigration, Income tax Latest Action: 06/12/2007 - Sponsor introductory remarks on measure. (CR S7548)
Bill TextA bill to amend the Internal Revenue Code of 1986 to provide tax relief and protections to military personnel, and for other purposes. 6/12/2007--Introduced. Defenders of Freedom Tax Relief Act of 2007 - Amends Internal Revenue Code provisions relating to military personnel to: (1) extend the limitation period for filing tax refund claims resulting from Department of Veterans Affairs (VA) disability determinations; (2) make permanent the taxpayer election to treat combat zone compensation as earned income for purposes of the earned income tax credit; (3) treat differential wage payments made to active duty members of the uniformed services as wages for retirement plan purposes; (4) make permanent the exemption from the 10% penalty for premature retirement plan distributions made by active duty military personnel; (5) treat state payments to members of the uniformed services as qualified military benefits for purposes of the tax exclusion of such benefits; (6) make permanent [...] show full description | | Also tagged in: Air pollution, Air pollution control, Alcohol as fuel, Alternative energy sources, Biomass energy, Business, Cellulose, Coal liquefaction, Corporation taxes, Depreciation and amortization, Electric power production, Electric power transmission, Electric utilities, Energy, Energy conservation, Energy conservation in buildings Latest Action: 06/12/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to lower the effective tax rate on investment in necessary energy infrastructure and credits for renewable energy, and for other purposes. 6/12/2007--Introduced. Energy Infrastructure Tax Reform and Incentives Act of 2007 - Amends the Internal Revenue Code to: (1) treat income and gains from certain electric transmission property as qualifying income of a publicly traded partnership; (2) allow accelerated depreciation of qualified energy management devices, cellulosic biomass ethanol plant property, coal-to-liquid plant property, and dedicated ethanol pipelines; (3) allow a tax credit for pollution abatement equipment; (4) modify certain rules and definitions relating to clean renewable energy bonds; (5) extend through 2013 the tax credit for producing electricity from renewable resources; and (6) allow an energy tax credit for investment in thermal storage systems or daylight dimming technologies. | | Latest Action: 06/11/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code to allow a special depreciation allowance for reuse and recycling property and to provide for tax-exempt financing of recycling equipment, and for other purposes. 6/11/2007--Introduced. Recycling Investment Saves Energy or the RISE Act - Amends the Internal Revenue Code to allow: (1) a first-year tax deduction of 50% of the adjusted basis of qualified reuse and recycling property; and (2) tax-exempt bond financing for recycling facilities. Defines "qualified reuse and recycling property" as property placed in service after December 31, 2006, which has a useful life of at least five years and which is used exclusively to collect, distribute, or recycle certain scrap materials. | | Also tagged in: Alcohol as fuel, Alternative energy sources, Biomass energy, Cellulose, Coal liquefaction, Depreciation and amortization, Diesel motor, Electric appliances, Electric power production, Electric power transmission, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Energy facilities, Excise tax Latest Action: 06/11/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to generate renewable energy and encourage novel technologies related to the production of energy, and for other purposes. 6/11/2007--Introduced. Generating Renewable Energy and Encouraging Novel Technologies Act of 2007 - Amends Internal Revenue Code provisions relating to renewable energy and other energy-related tax incentives. Allows current year expensing for: (1) wind, solar, geothermal, biomass, and ocean energy property used to produce electricity; (2) qualified fuel cell or microturbine property; (3) oil shale extraction and processing property; and (4) coal-to-liquid fuels process property. Extends eligibility for clean renewable energy bonds (CREBs) and the issuance authority for such bonds through 2018.Extends through 2018: (1) the tax credit for investment in solar energy and qualified fuel cell property; (2) the income and excise tax credits for alcohol used as fuel and for alternative fuels; (3) [...] show full description | | Also tagged in: Construction costs, Economic policy, Enterprise zones, Finance, Income tax, Labor, Residence requirements, Rural affairs, Rural economic development, Tax credits, Tax deductions, Tax exemption, Taxation, Urban affairs, Wages Latest Action: 06/06/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to extend and expand the benefits for businesses operating in empowerment zones, enterprise communities, or renewal communities, and for other purposes. 6/6/2007--Introduced. Empowerment Zone and Renewal Community Enhancement Act of 2007 - Amends Internal Revenue Code provisions relating to tax-preferred empowerment zones, rural enterprise communities, and renewal communities to: (1) extend the period of designation for such areas through 2015; (2) provide a safe harbor standard for employee residency requirements in empowerment zones; (3) eliminate certain residency requirements for the empowerment zone employment tax credit; (4) grant authority to expand the boundaries of empowerment zones and enterprise communities, including those located in rural areas; (5) allow carryovers of unused expensing allowances for enterprise zone businesses; (6) allow certain empowerment zone businesses to elect to receive payments in lieu of tax benefits;[...] show full description | | Also tagged in: Alternative energy sources, Depreciation and amortization, Education, Electric batteries, Electric power production, Electric vehicles, Electronics, Elementary and secondary education, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Energy storage, Environmental protection, Finance, Geothermal resources Latest Action: 05/25/2007 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6955-6960)
Bill TextA bill to amend the Internal Revenue Code of 1986 to provide incentives and extend existing incentives for the production and use of renewable energy resources, and for other purposes. 5/25/2007--Introduced. Clean Renewable Energy and Economic Development Incentives Act of 2007 - Amends the Internal Revenue Code to extend through 2018 the tax credits for producing electricity from renewable resources and for investment in clean renewable energy bonds.Allows new tax credits for: (1) holders of water conservation, reuse, and efficiency bonds; (2) expenditures for geothermal exploration; (3) holders of qualified renewable school energy bonds; and (4) investment in solar energy manufacturing facilities.Expands the tax credit for residential energy efficient property to include expenditures for wind energy property that uses a qualifying wind turbine (with a rated capacity of 100 kilowatts or less) to generate electricity.Extends through 2013 the new energy [...] show full description | | Also tagged in: Annuities, Business, Capital gains tax, Depreciation and amortization, Disaster relief, Dislocated workers, Emergency management, Energy, Finance, Housing, Income tax, Individual retirement accounts, Kansas, Labor, Losses, Pensions</ |
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