| Latest Action: 04/29/2008 - Referred to the House Committee on Financial Services.
Bill TextTo clarify the authority of the Federal Financing Bank to purchase loans guaranteed under part B of title IV of the Higher Education Act of 1965, and for other purposes. 4/29/2008--Introduced. Student Loan Access Act of 2008 - Authorizes the Federal Financing Bank, until July 1, 2009, to: (1) purchase guaranteed loans originated under the Federal Family Education Loan (FFEL) program of the Higher Education Act of 1965, or participation interests in such loans; (2) advance funds to eligible lenders for the purpose of originating or purchasing FFELs; and (3) invest in securities collateralized with FFELs. Prohibits such FFEL purchases from resulting in any net cost to the federal government. Permits the Secretary of the Treasury to extend the Bank's authority to take such actions beyond July 1, 2009, if economic conditions threaten timely, uninterrupted access to student loans. | | Latest Action: 04/10/2008 - Sponsor introductory remarks on measure. (CR S2949-2950)
Bill TextA bill to amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing, and for other purposes. 4/10/2008--Introduced. Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities. Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965. Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment. | | Latest Action: 04/08/2008 - Referred to the House Committee on Financial Services.
Bill TextTo amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing, and for other purposes. 4/8/2008--Introduced. Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities. Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965. Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment. | | Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank mergers, Business, Churches, Credit unions, Executive departments, Finance, Government information, Government paperwork, Law, National Credit Union Administration, Nonprofit organizations, Religion, Securities Latest Action: 03/03/2008 - Referred to the House Committee on Financial Services.
Bill TextTo advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, and for other purposes. 3/3/2008--Introduced. Credit Union Regulatory Relief Act of 2008 - Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus. Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans. Redefines member business loan to increase specified extensions of credit.Authorizes the National Credit Union Administration Board (Board) to establish longer loan maturity dates.Directs the Board to prescribe criteria for continued membership of certain member groups in the case of certain credit union conversions [...] show full description | | Also tagged in: Alternative energy sources, Biomass energy, Business, Capital gains tax, Charitable contributions, Commodity tax straddles, Congress, Diesel motor, Dividends, Electric power production, Energy, Energy research, Estate tax, Excise tax, Finance, Foreign corporations Latest Action: 12/29/2007 - Became Public Law No: 110-172.
Bill TextTo amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. 12/29/2007--Public Law. (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.)Tax Technical Corrections Act of 2007 - Makes technical amendments and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Relief and Health Care Act of 2006; (2) the Pension Protection Act of 2006; (3) the Tax Increase Prevention and Reconciliation Act of 2005; (4) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (5) the Energy Policy Act of 2005; (6) the American Jobs Creation Act of 2004; (7) the Economic Growth and Tax Relief Reconciliation Act of 2001; (8) the Tax Relief Extension Act of 1999; and (9) the Internal Revenue Service Restructuring and Reform Act [...] show full description | | Also tagged in: Alternative energy sources, Biomass energy, Business, Capital gains tax, Charitable contributions, Commodity tax straddles, Congress, Diesel motor, Dividends, Electric power production, Energy, Energy research, Estate tax, Excise tax, Finance, Foreign corporations Latest Action: 11/15/2007 - Sponsor introductory remarks on measure. (CR S14494)
Bill TextA bill to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. 11/15/2007--Introduced. Tax Technical Corrections Act of 2007 - Makes technical and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Relief and Health Care Act of 2006; (2) the Pension Protection Act of 2006; (3) the Tax Increase Prevention and Reconciliation Act of 2005; (4) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (5) the Energy Policy Act of 2005; (6) the American Jobs Creation Act of 2004; (7) the Jobs and Growth Tax Relief Reconciliation Act of 2003; (8) the Economic Growth and Tax Relief Reconciliation Act of 2001; (9) the Tax Relief Extension Act of 1999; and (10) the Internal Revenue Service Restructuring and Reform Act of 1998. | | Also tagged in: Alternative energy sources, Biomass energy, Business, Capital gains tax, Charitable contributions, Commodity tax straddles, Congress, Diesel motor, Dividends, Electric power production, Energy, Energy research, Estate tax, Excise tax, Finance, Foreign corporations Latest Action: 11/15/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. 11/15/2007--Introduced. Tax Technical Corrections Act of 2007 - Makes technical and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Relief and Health Care Act of 2006; (2) the Pension Protection Act of 2006; (3) the Tax Increase Prevention and Reconciliation Act of 2005; (4) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (5) the Energy Policy Act of 2005; (6) the American Jobs Creation Act of 2004; (7) the Jobs and Growth Tax Relief Reconciliation Act of 2003; (8) the Economic Growth and Tax Relief Reconciliation Act of 2001; (9) the Tax Relief Extension Act of 1999; and (10) the Internal Revenue Service Restructuring and Reform Act of 1998. | | Also tagged in: Administrative procedure, Africa (Sub-Saharan), American investments, Arab countries, Arabs, Armed forces, Budgets, Business, Civil liberties, Congress, Congress and foreign policy, Congressional reporting requirements, Defense economics, Defense industries, Defense policy, Displaced persons Latest Action: 12/31/2007 - Became Public Law No: 110-174.
Bill TextAn original bill to authorize State and local governments to divest assets in companies that conduct business operations in Sudan, to prohibit United States Government contracts with such companies, and for other purposes. 12/31/2007--Public Law. (There are 3 other summaries) (This measure has not been amended since it was passed by the Senate on December 12, 2007. The summary of that version is repeated here.) Sudan Accountability and Divestment Act of 2007 - (Sec. 2) Defines specified terms. (Sec. 3) Expresses the sense of Congress that the U.S. government should support a state or local government decision to divest from or prohibit the investment of state or local assets in a person determined to pose a financial or reputational risk. Authorizes a state or local government to divest state or local assets or prohibit investment of state or local assets in persons that are conducting or have direct investments in business [...] show full description | | Also tagged in: Agricultural pollution, Agriculture, Air pollution, Auctions, Biomass energy, Budgets, Building laws, Business, Carbon cycle, Carbon dioxide, Cellulose, Clean coal technology, Climate change, Economic policy, Electric appliances, Electric power distribution Latest Action: 12/05/2007 - Committee on Environment and Public Works. Date of scheduled consideration. SD-406. 9:00 a.m.
Bill TextA bill to direct the Administrator of the Environmental Protection Agency to establish a program to decrease emissions of greenhouse gases, and for other purposes. 10/18/2007--Introduced. America's Climate Security Act of 2007 - Requires the Administrator of the Environmental Protection Agency (EPA) to establish: (1) a greenhouse gas (GHG) registry; and (2) a GHG emission allowance transfer system for covered facilities, including specified facilities within the electric power and industrial sectors and facilities that produce or entities that import petroleum- or coal- based transportation fuel or chemicals. Sets forth emission allowances for 2012-2050, with a declining cap on GHGs.Provides for selling, exchanging, transferring, submitting, retiring, or borrowing emission allowances. Establishes: (1) a domestic offset program to sequester GHGs in agriculture and forests; and (2) the Bonus Allowance Account. Establishes the Carbon Market Efficiency Board, which [...] show full description | | Also tagged in: Bank loans, Business, Community development, Community development banking, Dislocated workers, Employee selection, Employment, Finance, Income tax, Infrastructure, Labor, Rural affairs, Tax credits, Taxation, Trade adjustment assistance, Urban affairs Latest Action: 10/16/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to provide a special allocation under the new markets tax credit in connection with trade adjustment assistance. 10/16/2007--Introduced. New Employment for Workers & Job Opportunities for Business Strength Act of 2007 or the NEW JOBS Act of 2007 - Amends the Internal Revenue Code to increase by $500 million in 2008 the new markets tax credit limitation amount that is allocable among qualified community development entities for investments in or loans to businesses that hire trade adjustment assistance (TAA) recipients or that meet other TAA requirements. | | Also tagged in: Business, Consumer education, Consumers, Contracts, Defined benefit pension plans, Employee benefit plans, Fees, Finance, Government information, Government paperwork, Labor, Pensions, Tax penalties, Taxation Latest Action: 10/05/2007 - Sponsor introductory remarks on measure. (CR 10/9/2007 E2077-2078)
Bill TextTo amend the Internal Revenue Code of 1986 to provide transparency with respect to fees and expenses charged to participant-directed defined contribution plans. 10/4/2007--Introduced. Defined Contribution Plan Fee Transparency Act of 2007 - Amends the Internal Revenue Code to impose penalties on: (1) employers and multi-employer defined contribution plans for the failure of their plan administrators to provide to plan participants or beneficiaries written notices of plan fees and expenses and investment alternatives; and (2) providers of services to defined contribution plans for failure to provide certain information to plan administrators, including an estimate of total fees and expenses expected to be paid under a service contract and an itemization of the services to be provided under such contract. | | Also tagged in: Budgets, Children, College costs, Education, Education savings accounts, Finance, Financial planning, Government trust funds, Higher education, Income tax, Individual retirement accounts, Law, Mutual funds, Pensions, Personal budgets, Saving and investment Latest Action: 10/03/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo encourage savings, promote financial literacy, and expand opportunities for young adults by establishing KIDS Accounts. 10/3/2007--Introduced. America Saving for Personal Investment, Retirement, and Education Act of 2005, or the ASPIRE Act of 2007 - Establishes a KIDS Account Fund in the Treasury. Establishes within the Fund a Kids Investment and Development Savings Account (KIDS Account). Makes eligible to contribute to such account, and to receive a matching federal contribution, any U.S. citizen born after December 31, 2007, and under 18 years of age, whose modified adjusted gross income is below the applicable national median adjusted gross income amount. Creates the KIDS Account Fund Board to establish a default investment program under which, in a manner similar to a lifecycle investment program, sums in each KIDS Account are allocated to investment funds in the KIDS Account Fund based on the amount of time before the account holder attains the age of [...] show full description | | Also tagged in: Administrative procedure, Affiliated corporations, Air pollution, Air pollution control, Armed forces, Armed forces reserves, Authorization, Bonds, Budgets, Business, Capital, Congress, Congressional reporting requirements, Data banks, Defense policy, Depressed areas 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: Administrative procedure, Civil service retirement, Congress, Congressional investigations, Congressional reporting requirements, Criminal justice, Executive departments, Federal employees, Finance, Foreign policy, Government employees, Government procurement, Independent regulatory commissions, Information disclosure (Securities law), International affairs, International cooperation Latest Action: 08/03/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill TextA bill to increase the economic pressure on terror sponsoring states, and for other purposes. 8/3/2007--Introduced. Promoting Fully Informed Investment Decision Making Act of 2007 - Directs the Securities and Exchange Commission (SEC) to: (1) report to Congress on business activities carried out with state sponsors of terrorism; and (2) issue regulations to require disclosure by all persons required to make filings under the Securities Exchange Act of 1934 regarding any business activity of more than $20 million in or with a country that is a state sponsor of terrorism, or an instrumentality of such country. Instructs the Comptroller General to report to Congress on: (1) the completeness of the SEC report; (2) the names of such persons included in each of the major investable financial market indices and the holdings of the Federal Thrift Savings Plan; and (3) the nature of the activities concerned, and the value of U.S. government active contracting with such persons [...] show full description | | Also tagged in: Broadband, Budgets, Business, Cable television, Commercialization, Communication satellites, Education, Executive departments, Federal aid to research, Federally-guaranteed loans, Finance, Government securities, High technology, Higher education, Income tax, Industrial parks Latest Action: 08/24/2007 - Referred to the Subcommittee on Research and Science Education.
Bill TextTo bridge the digital divide in rural areas. 8/3/2007--Introduced. Rural America Digital Accessibility Act - Authorizes the Secretary of Commerce to make grants or guarantee loans in order to facilitate the deployment by the private sector of broadband telecommunications networks and capabilities (including wireless and satellite services) to underserved rural areas. Limits to $100 million the total amount of such grants and loan guarantees.Requires the Director of the National Science Foundation to research the enhancement or facilitation of broadband telecommunications services in rural and other remote areas, as well as Internet access through such services. Amends the Internal Revenue Code to provide a tax credit to holders of qualified technology bonds (bonds representing an investment in projects to expand such telecommunications services). Sets a national technology bond limitation of $100 million for each of FY 2007 through 2011, and zero thereafter (with an exception) [...] show full description | | Also tagged in: Biomedical engineering, Business, Clinical trials, Drug industry, Finance, Income tax, Investment tax credit, Losses, Medical care, Medical research, Medicine, Orphan drugs, Pharmaceutical research, Research and development tax credit, Science policy, Small business Latest Action: 08/02/2007 - Sponsor introductory remarks on measure. (CR E1689-1690)
Bill TextTo amend the Internal Revenue Code of 1986 to modernize the tax treatment of biomedical research corporations. 7/31/2007--Introduced. American Life Sciences Competitiveness Act of 2007 - Amends the Internal Revenue Code to allow biomedical research corporations to: (1) engage in investment activity involving shifts in ownership without incurring limitations on net operating loss carryforwards; (2) claim a full research and development tax credit for contract research expenses (currently, limited to 65%); (3) claim a business tax credit for 20% of eligible countermeasures research expenses (for biomedical threats); and (4) claim a tax-free rollover of gain from stock sales reinvested in another biomedical research corporation.Expands the tax credit for clinical testing expenses for drugs to treat rare diseases (orphan drugs) to include expenses incurred after an application is made to the Food and Drug Administration (FDA) but before receipt of an orphan drug designation.[...] show full description | | Also tagged in: Administrative procedure, Business, Contracts, Department of Labor, Executive departments, Federal advisory bodies, Fees, Finance, Government information, Government paperwork, Government publicity, Law, Mutual funds, Pension funds, Pensions, Small business Latest Action: 04/16/2008 - Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 19.
Bill TextTo amend the Employee Retirement Income Security Act of 1974 to provide special reporting and disclosure rules for individual account plans and to establish in the Department of Labor an Advisory Council on Improving Employer-Employee Retirement Practices. 7/26/2007--Introduced. 401(k) Fair Disclosure for Retirement Security Act of 2007 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to prohibit an administrator of an individual account plan that includes a qualified cash or deferred arrangement to enter into any contract for services to the plan without a written statement that identifies who will be performing such services, describes each such service, and specifies the expected total annual cost of such services. Requires the Secretary of Labor to prescribe a model statement that may be used for purposes of satisfying such requirements. Limits the requirements for such a statement to contracts for services if the total cost for such services equals [...] show full description | | Also tagged in: Agricultural cooperatives, Agriculture, Biomass energy, Budgets, Economic policy, Electric power production, Energy, Energy facilities, Farmers, Federally-guaranteed loans, Finance, Government lending, Grants-in-aid, Rural affairs, Rural economic development Latest Action: 07/18/2007 - Read twice and referred to the Committee on Energy and Natural Resources.
Bill TextA bill to amend the Energy Policy Act of 2005 to provide individuals with an opportunity to participate in the financing or ownership of local biorefineries. 7/18/2007--Introduced. Amends the Energy Policy Act of 2005 to require that a biorefinery recipient of federal assistance provide eligible purchasers with an opportunity to participate in the financing or ownership of the biorefinery. Defines an eligible purchaser as: (1) a natural person with a principal residence located not more than 50 miles from the biorefinery; or (2) a farmer or rancher cooperative. | | Also tagged in: Budgets, Business, Business ethics, Congressional reporting requirements, Data banks, Directories, Executive departments, Executive reorganization, Finance, Government information, Government paperwork, Government publicity, Government trust funds, Grants-in-aid, Income tax, Labor Latest Action: 06/21/2007 - Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, 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 committee
Bill TextTo amend the Small Business Investment Act of 1958 to establish the Angel Investment Program. 6/21/2007--Introduced. Angels Nurture Growing Entrepreneurs into Long-Term Successes (ANGELS) Act - Amends the Small Business Investment Act of 1958 to establish within the Investment Division of the Small Business Administration (SBA) the Office of Angel Investment, headed by a Director, to provide support for the development of angel investment opportunities for small businesses. Requires the Director to: (1) establish and carry out a program, to be known as the Angel Finance Program, to provide financing to approved angel groups; (2) establish and maintain a searchable database, to be known as the Federal Angel Network, to assist small businesses in identifying angel investors; and (3) establish and carry out a program to make grants for the development of new or existing angel groups and to increase awareness and education about angel investing. Amends the Internal [...] show full description | | Latest Action: 07/24/2007 - Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Bill TextTo amend title I of the Employee Retirement Income Security Act of 1974 to require in the annual report of each defined benefit pension plan disclosure of plan investments in hedge funds. 6/12/2007--Introduced. Pension Security Act of 2007 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the financial statement filed with the annual report for a defined benefit pension plan covered by ERISA to include a separate schedule identifying each hedge fund (i.e., unregistered investment pool) in which plan funds are invested and the amount invested. | | Also tagged in: Coins and coinage, Finance, Income tax, Individual retirement accounts, Law, Pension funds, Pensions, Tax exclusion, Tax-deferred compensation plans, Taxation, Trusts and trustees Latest Action: 05/25/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to allow certain coins to be acquired by individual retirement accounts and other individually directed pension plan accounts, and for other purposes. 5/25/2007--Introduced. Options for Investors through United States Certified Coins Act of 2007 - Amends the Internal Revenue Code to permit holders of individual retirement accounts (IRAs) or individually-directed pension plans to invest in coins that: (1) are certified by an independent, third-party grading service; (2) are, or were at any time, legal tender in the United States; and (3) are traded on a nationally recognized electronic coin trading network or listed by an independent coin wholesale reporting service. Permits trustees of IRAs or individually-directed pension plans that invest in coins or bullion to hold an indicia of ownership for such coins or bullion in lieu of physical possession under certain circumstances. | | Also tagged in: Africa (Sub-Saharan), Armed forces, Budgets, Business, Civil liberties, Colleges, Corporate accountability, Corporate finance, Defense policy, Education, Finance, Foreign policy, Genocide, Higher education, Human rights, International affairs Latest Action: 05/24/2007 - Referred to the Committee on Foreign Affairs, 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 commi
Bill TextEncouraging the Federal Government and State and municipal governments, universities, companies, and other institutions in the United States, and all Americans to divest from companies that do business with Sudan. 5/24/2007--Introduced. Calls upon the government of Sudan to end the violence against the people of Darfur and enter into peace talks with those factions in Darfur that are non-signatories of the Darfur Peace Agreement. Encourages federal, state, municipal, university, corporate, and private citizen divestiture from companies that do business with Sudan. | | Also tagged in: Bonds, Building construction, Business, Construction costs, Construction industries, Construction workers, Depressed areas, Economic policy, Education, Elementary and secondary education, Elementary education, Employee selection, Employment, Enterprise zones, Finance, Government contractors Latest Action: 07/24/2007 - Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Bill TextTo amend the Internal Revenue Code of 1986 to expand the incentives for the construction and renovation of public schools. 5/24/2007--Introduced. America's Better Classrooms Act of 2007 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified public school modernization bonds, defined to include: (1) bonds for the construction, rehabilitation, or repair of a public school facility or for the acquisition of land for such facility (qualified school construction bonds); and (2) bonds to finance certain academic programs below the postsecondary level in empowerment zones or enterprise communities (qualified zone academy bonds). Establishes a national limitation on the issuance of such bonds and provides for the allocation of bond amounts among the states according to a specified formula. Terminates the authority for issuance of such bonds after 2009.Amends the General Education Provisions Act to apply certain labor standards to public school [...] show full description | | Latest Action: 06/12/2007 - Referred to the Subcommittee on Federal Workforce, Post Office, and the District of Columbia.
Bill TextTo amend title 5, United States Code, to provide for a corporate responsibility investment option under the Thrift Savings Plan. 5/24/2007--Introduced. Federal Employees Responsible Investment Act - Provides for the establishment of a Corporate Responsibility Stock Index Fund as an investment option under the Thrift Savings Plan (TSP). Directs the Federal Retirement Thrift Investment Board to select an index which is a commonly recognized, passively managed index comprised of domestic stocks based on criteria which may include corporate governance, environmental practices, workplace relations and benefits, product safety and impact, international operations and human rights, involvement with repressive regimes, and community relations. Requires that the index's financial track record be comparable to that of the other options available under TSP. Directs that the Fund be invested in a portfolio which shall be designed such that the percentage of the Fund that [...] show full description | | Also tagged in: Business, Corporation taxes, Dividends, Employee ownership, Finance, Income tax, Labor, Minimum tax, Pension funds, Pensions, Stocks, Tax deductions, Tax deferral, Tax exclusion, Tax penalties, Taxation Latest Action: 05/07/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to improve the operation of employee stock ownership plans, and for other purposes. 5/7/2007--Introduced. Employee Stock Ownership Plan Promotion and Improvement Act of 2007 - Amends the Internal Revenue Code to: (1) exempt certain distributions, including dividends, by S corporations to an employee stock ownership plan (ESOP) from the penalty tax for premature employee benefit plan withdrawals; (2) exempt deductions for ESOP dividends from corporate alternative minimum tax adjustments based on adjusted earnings and profits; (3) allow deferral of the recognition of gain for certain sales to ESOPs sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; (5) modify certain ESOP stock ownership rules; and (6) allow a de minimis exception from pension plan investment diversification requirements for ESOP accounts [...] show full description | | Latest Action: 04/30/2007 - Sponsor introductory remarks on measure. (CR E888-889)
Bill TextTo amend the Internal Revenue Code of 1986 to extend the new markets tax credit through 2013, and for other purposes. 4/30/2007--Introduced. New Markets Tax Credit Extension Act of 2007 - Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2013; and (2) provide for an inflation adjustment to the limitation amount for such credit after 2008. | | Latest Action: 04/26/2007 - Read twice and referred to the Committee on Finance.
Bill TextA bill to amend the Internal Revenue Code of 1986 to extend the new markets tax credit through 2013, and for other purposes. 4/26/2007--Introduced. New Markets Tax Credit Extension Act of 2007 - Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2013; and (2) provide for an inflation adjustment to the limitation amount for such credit after 2008. | | Also tagged in: Accounting, Administrative fees, Advice and consent of the Senate, Annuities, Appropriations, Auditing, Bonds, Budgets, Civil service retirement, Congressional reporting requirements, Consumer price indexes, Consumers, Cost of living adjustments, Earnings, Economic policy, Estates (Law) Latest Action: 04/25/2007 - Referred to the Subcommittee on Social Security.
Bill TextTo amend title II of the Social Security Act and the Internal Revenue Code of 1986 to provide for enhanced retirement security in the form of an Individual Social Security Investment Program. 4/23/2007--Introduced. Individual Social Security Investment Program Act of 2007 - Amends title II (Old Age, Survivors, and Disability Insurance) (OASDI) of the Social Security Act to add a new part B (Individual Social Security Investment Program) to change Social Security into a system of individual accounts where workers born on or after January 1, 1986, as well as electing participants born between January 1, 1953, and January 1, 1986, have ownership of and control over the investment of their retirement funds in various investment vehicles: (1) Tier I Investment Fund; (2) Tier II Investment Fund; and (3) Tier III Investment Accounts. Allows participating workers choosing the individual account option to have 100% of their redirected Social Security contribution for the calendar [...] show full description | | Also tagged in: Bank capital, Bank fraud, Department of Housing and Urban Development, Executive departments, Executive reorganization, Federal advisory bodies, Federal home loan banks, Federal Housing Finance Board, Finance, Fraud, Housing, Information disclosure (Securities law), Lobbying, Mortgages, Politics and government, Secondary mortgage market Latest Action: 04/12/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill TextA bill to address the regulation of secondary mortgage market enterprises, and for other purposes. 4/12/2007--Introduced. Federal Housing Enterprise Regulatory Reform Act of 2007 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency, headed by a Director, which shall have authority over: the Federal Home Loan Banks, the Finance Facility, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). Establishes the Federal Housing Enterprise Board, without executive authority, to advise the Director. Sets forth operating, administrative, and regulatory provisions of the Agency, including: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical [...] show full description | | Also tagged in: Africa (Sub-Saharan), Agricultural extension work, Agriculture, Air pollution, Alcohol as fuel, Alternative energy sources, Biomass energy, Brazil, Budgets, Business, Canada, Carbon cycle, Caribbean area, China, Clean coal technology, Climate change Latest Action: 03/28/2007 - Sponsor introductory remarks on measure. (CR S4054)
Bill TextA bill to direct the Secretary of State to work with the Government of Brazil and other foreign governments to develop partnerships that will strengthen diplomatic relations and energy security by accelerating the development of biofuels production, research, and infrastructure to alleviate poverty, create jobs, and increase income, while improving energy security and protecting the environment. 3/28/2007--Introduced. United States-Brazil Energy Cooperation Pact of 2007 - Directs the Secretary of State to establish the Western Hemisphere Energy Cooperation Forum which should seek to: (1) strengthen relationships between the United States and other countries of the Western Hemisphere through cooperation on energy issues; and (2) enhance cooperation between major energy producers and major energy consumers in the Western Hemisphere, particularly among the governments of Brazil, Canada, Mexico, the United States, and Venezuela. Directs the U.S. government to seek to implement: [...] show full description | | Also tagged in: Affiliated corporations, Alien property, American investments, Arms sales, Ballistic missiles, Budgets, Business, Civil service retirement, Congress, Congress and foreign policy, Congressional oversight, Congressional reporting requirements, Conventional weapons, Corporate reorganizations, Criminal justice, Cultural relations Latest Action: 04/08/2008 - Committee on Finance. Hearings held.
Bill TextA bill to impose sanctions on Iran and on other countries for assisting Iran in developing a nuclear program, and for other purposes. 3/22/2007--Introduced. Iran Counter-Proliferation Act of 2007 - Amends the Iran Sanctions Act of 1996 to expand the definitions of "petroleum resources" and "person."Expresses the sense of Congress concerning: (1) a variety of existing and proposed sanctions against Iran; and (2) mechanisms to assure a supply of nuclear fuel for peaceful means.Subjects Russia to specified nuclear energy cooperation prohibitions unless the President certifies to Congress that: (1) Russia has suspended all nuclear assistance and transfers of advanced conventional weapons and missiles to Iran; or (2) Iran has verifiably dismantled all nuclear enrichment-related and reprocessing-related programs. Subjects Iran to specified economic sanctions unless the President certifies to Congress that Iran has verifiably dismantled all nuclear enrichment-related [...] show full description | | Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank management, Bank mergers, Business, Credit unions, Department of the Treasury, Deposit insurance, Disasters, Emergency management, Executive departments, Executive reorganization, Federal Deposit Insurance Corporation, Federal reserve system, Finance Latest Action: 03/15/2007 - Referred to the House Committee on Financial Services.
Bill TextTo modernize credit union net worth standards, advance credit union efforts to promote economic growth, and modify credit union regulatory standards and reduce burdens, and for other purposes. 3/15/2007--Introduced. Credit Union Regulatory Improvements Act of 2007 - Amends the Federal Credit Union Act to reduce the minimum net worth ratio requirements of credit unions. Revises the minimum risk-based net ratio for such capitalizations. Transfers from the federal banking agencies to the Federal Deposit Insurance Corporation (FDIC) the authority to adjust the net worth levels of credit unions. Instructs the National Credit Union Administration Board (Board) to design the risk-based net worth requirement to take account of material risks to insured credit unions that are taken account of by comparable standards applicable to FDIC-insured institutions. Establishes a temporary waiver of the net worth restoration plan requirement for an undercapitalized [...] show full description | | Also tagged in: Administrative fees, Admission of nonimmigrants, Affiliated corporations, Agriculture, Agriculture in foreign trade, Alien property, American investments, Arab countries, Armed forces, Arms control, Arms sales, Authorization, Ballistic missiles, Biological warfare, Budgets, Business Latest Action: 09/26/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill TextTo enhance United States diplomatic efforts with respect to Iran by imposing additional economic sanctions against Iran, and for other purposes. 9/25/2007--Passed House amended. (There are 2 other summaries) Iran Counter-Proliferation Act of 2007 - Title I: Support for Diplomatic Efforts Relating to Preventing Iran from Acquiring Nuclear Weapons - (Sec. 101) Expresses the sense of Congress that: (1) the United States should use diplomatic and economic means to resolve the Iranian nuclear problem; (2) the United States should continue to support efforts in the International Atomic Energy Agency (IAEA) and the U.N. Security Council to end Iran's uranium enrichment and nuclear weapons programs; (3) Security Council Resolution 1737 was a useful first step toward pressing Iran to end its nuclear weapons program; and (4) in light of Iran's continued defiance of the international community the Security Council should adopt additional measures against [...] show full description | | Also tagged in: American investments, Armed forces, Arms control, Biological warfare, Business, Chemical warfare, Civil service retirement, Congress, Congress and foreign policy, Congressional oversight, Congressional reporting requirements, Corporate accountability, Criminal justice, Energy, Energy industries, Federal employees Latest Action: 07/30/2007 - Sponsor introductory remarks on measure. (CR 7/31/2007 H8859)
Bill TextTo require divestiture of current investments in Iran, to prohibit future investments in Iran, and to require disclosure to investors of information relating to such investments. 3/6/2007--Introduced. Directs the President to publish in the Federal Register a list of all U.S. and foreign entities that have invested more than $20 million in Iran's energy sector (including an itemization of individual investments of such entities) between August 5, 1996, and the date of such publication. Requires managers of federal and private pension plans or thrift savings plans and managers of mutual funds sold or distributed in the United States to: (1) notify investors that their funds are invested in entities included on the list; and (2) take immediate steps, upon notification or publication of such list, to divest all investments of such plans or funds in such entities. Prohibits, upon such publication, future investment in any entity included on the list by managers [...] show full description | | Also tagged in: Administrative procedure, Affiliated corporations, Automobile insurance, Bank accounts, Bank examination, Bank holding companies, Bank loans, Bank mergers, Bank records, Banks and banking, Brokers, Business, Business insurance, Business records, Casualty insurance, Civil rights Latest Action: 03/01/2007 - Referred to the House Committee on Financial Services.
Bill TextTo enhance the availability of capital and credit for all citizens and communities, to ensure that community reinvestment keeps pace as banks, securities firms, and other financial service providers become affiliates as a result of the enactment of the Gramm-Leach-Bliley Act, and for other purposes. 3/1/2007--Introduced. Community Reinvestment Modernization Act of 2007 - Repeals specified revisions to regulations governing the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision. Reinstates banking agency regulations in effect before the publication of such revisions. Amends the Bank Holding Company Act of 1956 (BHCA) to subject to the Community Reinvestment Act of 1977 (CRA) nonbank affiliates of bank holding companies that engage in lending or offering banking products or services. Amends the CRA to require a rating reduction [...] show full description | | Also tagged in: Administrative procedure, Bank accounts, Brokers, Business, Capital, Executive departments, Finance, Independent regulatory commissions, Law, Margins (Security trading), Money market funds, Securities, Securities and Exchange Commission, Securities industry, Securities regulation, Surety and fidelity Latest Action: 04/11/2007 - Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Bill TextTo direct the Securities and Exchange Commission to revise rules to provide for the comparable treatment and expanded use of qualified money market funds for broker-dealer financing. 2/16/2007--Introduced. Money Market Fund Parity Act of 2007 - Directs the Securities and Exchange Commission to revise, according to specified requirements, rules relating to net capital, custody and use of customers' securities, and certain underwritings to provide for: (1) treatment of securities issued by qualified money market funds comparable with the treatment under those rules of other low-risk securities and deposits; and (2) the expanded use of securities issued by qualified money market funds for financing by brokers and dealers. | | Also tagged in: Bank capital, Banks and banking, Community development, Community development banking, Depressed areas, Economic policy, Finance, Housing, Infrastructure, Job creation, Law, Liability (Law), Rural affairs, Savings and loan associations, Urban affairs Latest Action: 02/28/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill TextTo increase community development investments by depository institutions, and for other purposes. 2/27/2007--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations. Authorizes a federal savings association to make investments, directly or indirectly, each of which is designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments). Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments. Prohibits [...] show full description | | Also tagged in: Administrative fees, Aged, Aliens, Annuities, Bonds, Budget deficits, Budget reconciliation, Budget resolutions, Budget surpluses, Budgets, Caregivers, Children, Civil service retirement, Congress, Congressional reporting requirements, Congressional voting Latest Action: 03/13/2007 - Referred to the Subcommittee on Social Security.
Bill TextTo amend the Social Security Act and the Internal Revenue Code of 1986 to preserve and strengthen the Social Security Program through the creation of personal Social Security guarantee accounts ensuring full benefits for all workers and their families, restoring long-term Social Security solvency, to make certain benefit improvements, and for other purposes. 2/15/2007--Introduced. Social Security Guarantee Plus Act of 2007 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable [...] show full description | | Also tagged in: Africa (Sub-Saharan), Budgets, Business, Civil liberties, Colleges, Corporate accountability, Corporate finance, Education, Finance, Foreign policy, Genocide, Higher education, Human rights, International affairs, International finance, Investment of public funds Latest Action: 02/14/2007 - Referred to the House Committee on Financial Services.
Bill TextEncouraging the Federal Government and State and municipal governments, universities, companies, and other institutions in the United States, and all Americans to divest from companies that do business with Sudan. 2/14/2007--Introduced. Encourages federal, state, municipal, university, corporate, and private citizen divestiture from companies that do business with Sudan. | | Also tagged in: Access to health care, Affordable housing, Aged, Agricultural subsidies, Agriculture, Air pollution, Armed forces, Associations, institutions, etc., Awards, medals, prizes, Boycott, Budget deficits, Budgets, Business, Business and social problems, Business cycles, Business ethics Latest Action: 06/05/2007 - Referred to the Subcommittee on Workforce Protections.
Bill TextTo establish a living wage, jobs for all policy for all peoples in the United States and its territories, and for other purposes. 2/14/2007--Introduced. A Living Wage, Jobs for All Act - Declares that Congress affirms the basic economic rights and responsibilities under the 1944 "Economic Bill of Rights," while updating and extending it to include: (1) certain rights to decent jobs, income security for individuals unable to work for pay, a decent living for farm families, freedom from monopolies, decent housing, adequate health services, Social Security in old age, sickness, accidental injury, and unemployment, and education and work training; and (2) certain other rights relating to collective bargaining, a safe working environment, information on trends in pollution sources and products and processes that affect the well-being of workers throughout the world, voting and campaigning, and personal security. Requires corporations registered with the Securities and Exchange [...] show full description | | Also tagged in: Access to health care, Accreditation (Medical care), Advice and consent of the Senate, Aged, Ambulatory care, Appropriations, Bonds, Budgets, Building construction, Capital budgets, Capital investments, Capitation (Medical care), Children, Chiropractic and chiropractors, Civil liberties, Clinics Latest Action: 02/02/2007 - Referred to the Subcommittee on Health.
Bill TextTo provide for comprehensive health insurance coverage for all United States residents, and for other purposes. 1/24/2007--Introduced. United States National Health Insurance Act (or the Expanded and Improved Medicare for All Act) - Establishes the United States National Health Insurance (USNHI) Program (the Program) to provide all individuals residing in the United States and in U.S. territories with free health care that includes all medically necessary care, such as primary care and prevention, prescription drugs, emergency care, and mental health services. Prohibits an institution from participating in the Program unless it is a public or nonprofit institution. Allows nonprofit health maintenance organizations (HMOs) that actually deliver care in their own facilities to participate in the Program. Gives patients the freedom to choose from participating physicians and institutions. Prohibits a private health insurer from selling health insurance coverage that [...] show full description | | Latest Action: 01/19/2007 - Referred to the House Committee on Ways and Means.
Bill TextTo amend the Internal Revenue Code of 1986 to allow a credit against income tax for qualified equity investments in certain small businesses. 1/19/2007--Introduced. Access to Capital for Entrepreneurs Act of 2007 - Amends the Internal Revenue Code to allow certain investors a business tax credit for 25% of equity investments made in small businesses, up to an annual limit of $500,000. Terminates such credit after 2011. | | Also tagged in: Budget surpluses, Budgets, Congress, Congressional reporting requirements, Executive departments, Federal advisory bodies, Finance, Government trust funds, Governmental investigations, Investment of public funds, Legislation, Old age, survivors and disability insurance, Social security, Social security finance Latest Action: 01/24/2007 - Referred to the Subcommittee on Social Security.
Bill TextTo amend title II of the Social Security Act to establish a Social Security Surplus Protection Account in the Federal Old-Age and Survivors Insurance Trust Fund to hold the Social Security surplus, to provide for suspension of investment of amounts held in the Account until enactment of legislation providing for investment of the Trust Fund in investment vehicles other than obligations of the United States, and to establish a Social Security Investment Commission to make recommendations for alternative forms of investment of the Social Security surplus in the Trust Fund. 1/19/2007--Introduced. Savings for Seniors Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to establish in the Federal Old-Age and Survivors Insurance Trust Fund a Social Security Surplus Protection Account to hold the Social Security surplus.Denies the availability of the balance in the Account for investment by the Managing Trustee.Establishes [...] show full description | | Also tagged in: Accounting, Administrative procedure, Administrative remedies, Bank employees, Budgets, Business, Capital gains tax, Checks, Citizenship, Compensation for victims of crime, Congress, Congressional reporting requirements, Construction costs, Contracts, Corporation taxes, Cost of living adjustments Latest Action: 01/22/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-1. Additional views filed.
Bill TextAn original bill to amend the Internal Revenue Code of 1986 to provide additional tax incentives to employers and employees of small businesses, and for other purposes. 1/22/2007--Reported to Senate without amendment, 1st committee reporting. (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.) Small Business and Work Opportunity Act of 2007 - Title I: Small Business Tax Relief Provisions - Subtitle A: General Provisions - (Sec. 101) Amends the Internal Revenue Code to extend through 2010 the increased expensing allowance for small business assets. (Sec. 102) Extends through March 2008 accelerated depreciation of qualified leasehold and restaurant improvement property. Revises the definition of "qualified restaurant property" to eliminate the requirement that improvements to restaurant property must be [...] show full description | | Also tagged in: Annuities, Bonds, Budgets, Children, Civil service retirement, Cost of living adjustments, Families, Finance, Gift tax, Government employees, Government securities, Government trust funds, Grandparents, Individual retirement accounts, Inheritance tax, Law Latest Action: 01/18/2007 - Referred to the Subcommittee on Social Security.
Bill TextTo amend the Social Security Act to provide each American child with a KidSave Account, and for other purposes. 1/5/2007--Introduced. Social Security KidSave Accounts Act - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to create a new part B (KidSave Accounts). Directs the Commissioner of Social Security to establish in the name of each individual born on or after January 1, 2008, an individual retirement account in the Thrift Savings Fund known as a KidSave Account. Requires such Account to be treated in the same manner as an account maintained by a federal employee under the Federal Employees Retirement System (FERS) (into which contributions by or on behalf of the individual are deposited into one or more designated investment funds).Requires the Secretary of the Treasury to transfer from the Federal Old-Age and Survivors Insurance Trust Fund to each account holder's KidSave Account: (1) $2,000, on the date such [...] show full description |
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