Top Legislation - View All
Also tagged in: Air pollution, Air pollution control, Alternative energy sources, Bonds, Business, Carbon cycle, Carbon dioxide, Clean coal technology, Coal, Corporation taxes, Electric power production, Electric power transmission, Energy, Environmental protection, Finance, Foreign corporations, Fuel cells, Imports, Income tax, Investment tax credit, Leases, Losses, Solar energy, Tax administration, Tax credits, Tax evasion, Tax penalties, Tax shelters, Taxation, Taxation of foreign income, Trade
Latest Action: 05/24/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend and expand various tax incentives for production of renewable energy and clean energy sources, and for other purposes. 5/24/2007--Introduced. Clean Energy Production Tax Incentives Act of 2007 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for producing electricity from renewable resources and extend such credit through 2018; (2) extend the national limitation amount for clean renewable energy bonds through 2017; (3) extend the advanced coal project tax credit; and (4) extend through 2018 the tax credit for investment in qualified fuel cell and microturbine property and solar property.Allows new tax credits for the capture and storage or use of carbon dioxide and for investment in clean coal energy bonds, carbon dioxide capture bonds, and electric transmission property and bonds.Treats certain controlled foreign corporations created or organized under the laws of a tax [...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax consultants, Tax deductions, Tax evasion, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill TextTo restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 5/3/2007--Introduced. Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Commissioner of the Internal Revenue Service); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions;[...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax consultants, Tax deductions, Tax evasion, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 02/17/2007 - Sponsor introductory remarks on measure. (CR S2206-2216) Bill TextA bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 2/17/2007--Introduced. Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; and [...] show full description
Also tagged in: Administrative procedure, Alcohol as fuel, Alternative energy sources, Biomass energy, Bonds, Budgets, Business, Cellulose, Continental shelf, Corporation taxes, Depreciation and amortization, Diesel motor, Electric power plants, Electric power production, Electric utilities, Electric vehicles, Energy, Energy conservation, Energy efficiency, Environmental protection, Environmental Protection Agency, Excise tax, Executive departments, Expatriation, Fines (Penalties), Foreign corporations, Free ports and zones, Gas in submerged lands, Gas industry, Geothermal resources, Government trust funds, Gulf of Mexico, Housing, Hydroelectric power, Income tax, Landfills, Law, Leases, Liability for environmental damages, Marine resources, Methane, Minimum tax, Natural resources, Ocean energy resources, Oil pollution, Oil well drilling, Petroleum in submerged lands, Petroleum industry, Recycling of waste products, Service stations, Solar energy, Solid wastes, Tariff, Tax credits, Tax deductions, Tax evasion, Tax exemption, Taxation, Taxation of foreign income, Trade, Transportation, Water pollution, Wind power
Latest Action: 02/14/2008 - Sponsor introductory remarks on measure. (CR S1059-1061) Bill TextA bill to establish a national renewable energy standard, to extend and create renewable energy tax incentives, and for other purposes. 2/14/2008--Introduced. American Renewable Energy Act of 2008 - Amends the Public Utility Regulatory Policies Act of 1978 to require that electric utilities that sell electricity to consumers generate or purchase a specified percentage (increasing from 2% in 2010 to 20% in 2024) of their electricity from renewable resources (e.g., solar, wind, geothermal, ocean, biomass, landfill gas, or incremental hydropower or geothermal energy).Renewable Energy Tax Incentives Act - Amends the Internal Revenue Code to provide tax incentives for investment in renewable energy sources and conversation, including by: (1) extending the tax credit for producing electricity from renewable resources, the energy tax credit, the small ethanol producer tax credit, and the tax credits for investment in clean new renewable energy bonds, biodiesel used as fuel,[...] show full description
Also tagged in: Bank accounts, Congress, Congressional committees (Senate), Congressional investigations, Congressional privileges and immunities, Criminal investigation, Criminal justice, Evidence (Law), Finance, Foreign banks and banking, Governmental investigations, Income tax, International finance, Senate Homeland Security and Governmental Affairs, Tax evasion, Taxation
Latest Action: 07/31/2008 - Submitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S7981; text as passed Senate: CR S7981; text of measure as introduced: CR S7977) Bill TextA resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. 7/31/2008--Passed Senate 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.) Authorizes the Chairman and Ranking Minority Member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, acting jointly, to provide to law enforcement officials, regulatory agencies, and other entities or individuals duly authorized by federal, state, or foreign governments, records of the Subcommittee's investigation into tax haven financial institutions, their formation and administration of offshore entities and accounts for use by U.S. clients, and the impact of those activities on tax compliance in the United States.
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Latest Legislation - View All
Also tagged in: Bank accounts, Congress, Congressional committees (Senate), Congressional investigations, Congressional privileges and immunities, Criminal investigation, Criminal justice, Evidence (Law), Finance, Foreign banks and banking, Governmental investigations, Income tax, International finance, Senate Homeland Security and Governmental Affairs, Tax evasion, Taxation
Latest Action: 07/31/2008 - Submitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S7981; text as passed Senate: CR S7981; text of measure as introduced: CR S7977) Bill TextA resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. 7/31/2008--Passed Senate 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.) Authorizes the Chairman and Ranking Minority Member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, acting jointly, to provide to law enforcement officials, regulatory agencies, and other entities or individuals duly authorized by federal, state, or foreign governments, records of the Subcommittee's investigation into tax haven financial institutions, their formation and administration of offshore entities and accounts for use by U.S. clients, and the impact of those activities on tax compliance in the United States.
Also tagged in: Administrative procedure, Alcohol as fuel, Alternative energy sources, Biomass energy, Bonds, Budgets, Business, Cellulose, Continental shelf, Corporation taxes, Depreciation and amortization, Diesel motor, Electric power plants, Electric power production, Electric utilities, Electric vehicles, Energy, Energy conservation, Energy efficiency, Environmental protection, Environmental Protection Agency, Excise tax, Executive departments, Expatriation, Fines (Penalties), Foreign corporations, Free ports and zones, Gas in submerged lands, Gas industry, Geothermal resources, Government trust funds, Gulf of Mexico, Housing, Hydroelectric power, Income tax, Landfills, Law, Leases, Liability for environmental damages, Marine resources, Methane, Minimum tax, Natural resources, Ocean energy resources, Oil pollution, Oil well drilling, Petroleum in submerged lands, Petroleum industry, Recycling of waste products, Service stations, Solar energy, Solid wastes, Tariff, Tax credits, Tax deductions, Tax evasion, Tax exemption, Taxation, Taxation of foreign income, Trade, Transportation, Water pollution, Wind power
Latest Action: 02/14/2008 - Sponsor introductory remarks on measure. (CR S1059-1061) Bill TextA bill to establish a national renewable energy standard, to extend and create renewable energy tax incentives, and for other purposes. 2/14/2008--Introduced. American Renewable Energy Act of 2008 - Amends the Public Utility Regulatory Policies Act of 1978 to require that electric utilities that sell electricity to consumers generate or purchase a specified percentage (increasing from 2% in 2010 to 20% in 2024) of their electricity from renewable resources (e.g., solar, wind, geothermal, ocean, biomass, landfill gas, or incremental hydropower or geothermal energy).Renewable Energy Tax Incentives Act - Amends the Internal Revenue Code to provide tax incentives for investment in renewable energy sources and conversation, including by: (1) extending the tax credit for producing electricity from renewable resources, the energy tax credit, the small ethanol producer tax credit, and the tax credits for investment in clean new renewable energy bonds, biodiesel used as fuel,[...] show full description
Also tagged in: Air pollution, Air pollution control, Alternative energy sources, Bonds, Business, Carbon cycle, Carbon dioxide, Clean coal technology, Coal, Corporation taxes, Electric power production, Electric power transmission, Energy, Environmental protection, Finance, Foreign corporations, Fuel cells, Imports, Income tax, Investment tax credit, Leases, Losses, Solar energy, Tax administration, Tax credits, Tax evasion, Tax penalties, Tax shelters, Taxation, Taxation of foreign income, Trade
Latest Action: 05/24/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend and expand various tax incentives for production of renewable energy and clean energy sources, and for other purposes. 5/24/2007--Introduced. Clean Energy Production Tax Incentives Act of 2007 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for producing electricity from renewable resources and extend such credit through 2018; (2) extend the national limitation amount for clean renewable energy bonds through 2017; (3) extend the advanced coal project tax credit; and (4) extend through 2018 the tax credit for investment in qualified fuel cell and microturbine property and solar property.Allows new tax credits for the capture and storage or use of carbon dioxide and for investment in clean coal energy bonds, carbon dioxide capture bonds, and electric transmission property and bonds.Treats certain controlled foreign corporations created or organized under the laws of a tax [...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax consultants, Tax deductions, Tax evasion, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill TextTo restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 5/3/2007--Introduced. Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Commissioner of the Internal Revenue Service); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions;[...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax consultants, Tax deductions, Tax evasion, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 02/17/2007 - Sponsor introductory remarks on measure. (CR S2206-2216) Bill TextA bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 2/17/2007--Introduced. Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; and [...] show full description
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