All Tax exemption Legislation - Federal Government
H.R.7006 - To amend the Internal Revenue Code of 1986 to provide disaster assistance relief.
Latest Action: 09/24/2008 - Mr. Rangel moved to suspend the rules and pass the bill. Bill Text To amend the Internal Revenue Code of 1986 to provide disaster assistance relief. 9/24/2008--Passed House 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.)Disaster Tax Relief Act of 2008 - Amends the Internal Revenue Code to provide tax relief in federally declared disaster areas.(Sec. 2) Waives the 10% adjusted gross income limitation on personal casualty losses for losses sustained from a federally declared disaster occurring after December 31, 2007, and before January 1, 2012. Defines "federally declared disaster" as any disaster determined by the President to warrant federal assistance under the Robert T. Stafford Relief and Emergency Assistance Act. Increases the standard tax deduction by a taxpayer's net disaster loss (i.e., personal casualty losses in a disaster area over personal [...] show full description Comment on Bill H.R.7005 - To amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for individuals for 2008.
Latest Action: 09/24/2008 - DEBATE - The House proceeded with forty minutes of debate on H.R. 7005. Bill Text To amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for individuals for 2008. 9/24/2008--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.) Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liability; and (2) the increased alternative minimum tax (AMT) exemption amounts. Increases the alternative minimum tax (AMT) refundable credit amount for individuals who have long-term unused minimum tax credits from prior taxable years. Abates any underpayment of tax attributable to the application of special AMT rules for the treatment of incentive stock options. H.R.6899 - To advance the national security interests of the United States by reducing its dependency on oil through renewable and clean, alternative fuel technologies while building a bridge to the future through expanded access to Federal oil and natural gas resources, revising the relationship between the oil and gas industry and the consumers who own those resources and deserve a fair return from the development of publicly owned oil and gas, ending tax subsidies for large oil and gas companies, and facilitating energy efficiencies in the building, housing, and transportation sectors, and for other purposes.
Latest Action: 11/18/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 1118 under authority of the order of the Senate of 11/17/2008. Bill Text To advance the national security interests of the United States by reducing its dependency on oil through renewable and clean, alternative fuel technologies while building a bridge to the future through expanded access to Federal oil and natural gas resources, revising the relationship between the oil and gas industry and the consumers who own those resources and deserve a fair return from the development of publicly owned oil and gas, ending tax subsidies for large oil and gas companies, and facilitating energy efficiencies in the building, housing, and transportation sectors, and for other purposes. 9/15/2008--Introduced. Comprehensive American Energy Security and Consumer Protection Act - Prohibits oil and gas preleasing or leasing of any area of the Outer Continental Shelf that was not available for oil and gas leasing as of July 1, 2008, unless that action is expressly authorized by this Act or a statute enacted by Congress after the date of enactment of this Act. [...] show full description S.3335 - A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.
Latest Action: 07/30/2008 - Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 43. Record Vote Number: 192. (consideration: CR S7722; text: CR S7722) Bill Text A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 7/24/2008--Introduced. Jobs, Energy, Families, and Disaster Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends the tax credit for producing electricity from wind facilities through 2009 and the tax credit for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities through 2011. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends the energy tax credit for solar energy and the residential energy efficient property tax credit through 2016. Extends the energy tax credits for fuel cell and microturbine property through 2017. Allows a new investment tax credit for combined heat and power system property.[...] show full description S.3322 - A bill to provide tax relief for the victims of severe storms, tornados, and flooding in the Midwest, and for other purposes.
Latest Action: 07/30/2008 - S.AMDT.5254 Referred to the Committee on Finance. To make a technical correction. Bill Text A bill to provide tax relief for the victims of severe storms, tornados, and flooding in the Midwest, and for other purposes. 7/23/2008--Introduced. Midwestern Disaster Tax Relief Act of 2008 - Amends the Internal Revenue Code to provide tax benefits to individuals affected by presidentially-declared natural disasters (i.e., severe storms, tornadoes, or flooding) in the states of Arkansas, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, and Wisconsin on or after May 20, 2008, and before August 1, 2008 (Midwestern disaster area).Makes specified provisions of the Internal Revenue Code, which currently apply only to residents of the Gulf Opportunity Zone and the Hurricane Katrina disaster area, applicable to the Midwestern disaster area, including: (1) tax-exempt bond financing, the low-income housing tax credit, accelerated depreciation and increased expensing of business assets, an increase in the rehabilitation tax credit, extended carryback [...] show full description S.3244 - A bill to amend the Internal Revenue Code of 1986 to expand the Coverdell education savings accounts to allow home school education expenses, and for other purposes.
Latest Action: 07/10/2008 - Read twice and referred to the Committee on Finance. Bill Text A bill to amend the Internal Revenue Code of 1986 to expand the Coverdell education savings accounts to allow home school education expenses, and for other purposes. 7/10/2008--Introduced.
Amends the Internal Revenue Code to allow: (1) payment of home school expenses from Coverdell education savings accounts; and (2) an annual inflation adjustment after 2008 to the contribution limit amount for such accounts. Makes permanent provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 relating to Coverdell education savings accounts, including an increase in the contribution limit amount for such accounts. S.3243 - A bill to amend the Internal Revenue Code of 1986 to allow expenses relating to all home schools to be qualified education expenses for purposes of a Coverdell education savings account.
Latest Action: 07/10/2008 - Read twice and referred to the Committee on Finance. Bill Text A bill to amend the Internal Revenue Code of 1986 to allow expenses relating to all home schools to be qualified education expenses for purposes of a Coverdell education savings account. 7/10/2008--Introduced.
Amends the Internal Revenue Code to allow payment of home school expenses from Coverdell education savings accounts. S.3125 - A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5595-5597) Bill Text A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/12/2008--Introduced. Energy Independence and Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends through 2009 the tax credit for producing electricity from wind facilities and through 2011 for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends through 2014: (1) the energy tax credits for solar energy, fuel cell, and microturbine property; and (2) the residential energy efficient property tax credit. Allows a new investment tax credit for combined heat and power system property.Provides funding for new clean renewable energy [...] show full description H.R.6275 - To amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes.
Latest Action: 06/26/2008 - Received in the Senate and Read twice and referred to the Committee on Finance. Bill Text To amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes. 6/25/2008--Passed House amended. (There is 1 other summary) Alternative Minimum Tax Relief Act of 2008 - Title I: Individual Tax Relief - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; and (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liability.Title II: Revenue Provisions- (Sec. 201) Defines an "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.[...] show full description S.3098 - A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.
Latest Action: 06/09/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 771. Bill Text A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/6/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liabilities; and (2) the increased AMT exemption amounts. Extends through 2009: (1) the election to deduct state and local sales taxes in lieu of state and local income taxes; (2) the tax deductions for qualified tuition and related expenses and for certain expenses of elementary and secondary school teachers; (3) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes; and (4) tax rules for treatment of [...] show full description H.R.6049 - To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes.
Latest Action: 09/29/2008 - Message on Senate action sent to the House. Bill Text To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. 9/23/2008--Passed Senate amended. (There are 3 other summaries) Energy Improvement and Extension Act of 2008 - Amends the Internal Revenue Code to extend and modify expiring provisions related to energy production and conservation and to provide for revenue enhancements.Title I: Energy Production Incentives - Subtitle A: Renewable Energy Incentives - (Sec. 101) Extends the tax credit for the production of electricity from renewable resources: (1) through 2009 for wind and refined coal facilities; and (2) through 2010 for closed and open-loop biomass, geothermal or solar energy, small irrigation power, landfill gas, trash combustion, and hydropower facilities. Modifies tax credit rules for refined coal, trash, and biomass [...] show full description H.R.6036 - To amend the Internal Revenue Code of 1986 to establish lifelong learning accounts to provide an incentive to save for education.
Latest Action: 05/13/2008 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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 Text To amend the Internal Revenue Code of 1986 to establish lifelong learning accounts to provide an incentive to save for education. 5/13/2008--Introduced.
Lifelong Learning Accounts Act of 2008 - Amends the Internal Revenue Code to: (1) establish tax-exempt lifelong learning accounts to pay certain educational expenses, including tuition, fees, books, supplies, and information technology devices; (2) allow individuals between age 18 and 71 a tax credit for cash contributions to their lifelong learning accounts; and (3) allow employers a tax credit for contributions made to the lifelong learning accounts of their employees and for administrative costs associated with small employer lifelong learning accounts. H.R.6009 - To leverage market forces to bring greater efficiency and capacity to domestic refineries, to bring new sources of domestic energy to market, and for other purposes.
Latest Action: 05/13/2008 - Referred to the Subcommittee on Energy and Mineral Resources. Bill Text To leverage market forces to bring greater efficiency and capacity to domestic refineries, to bring new sources of domestic energy to market, and for other purposes. 5/8/2008--Introduced. Affordable Fuel for Consumers Act of 2008 - Expresses the sense of Congress that the President should stop filling the Strategic Petroleum Reserve (SPR) until the price of petroleum no longer has a major adverse impact upon the national economy. Amends the Clean Air Act to authorize the Administrator of the Environmental Protection Agency (EPA) to give preference to approval of state implementation plan provisions if they require the use of either: (1) certain reformulated gasoline; or (2) gasoline having a specified Reid Vapor Pressure for the high ozone season. Amends the Sherman Act to prohibit actions of a foreign entity that impact upon the market, supply, price, or distribution in the United States of oil, natural gas, or any other petroleum product. Amends the [...] show full description H.R.5995 - To amend the Internal Revenue Code of 1986 to suspend the highway fuels taxes, to provide for a Joint Committee on Earmark Reform, and to prohibit earmarking for the remainder of the 110th Congress.
Latest Action: 05/08/2008 - Referred to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, 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 co Bill Text To amend the Internal Revenue Code of 1986 to suspend the highway fuels taxes, to provide for a Joint Committee on Earmark Reform, and to prohibit earmarking for the remainder of the 110th Congress. 5/8/2008--Introduced. Gas Tax Relief and Earmark Moratorium Act of 2008 - Amends the Internal Revenue Code to suspend excise taxes on gasoline, diesel fuel, and kerosene between May 26, 2008, and September 1, 2008. Reimburses the Highway Trust Fund for any reduction in revenues resulting from such suspension.Requires the Secretary of the Treasury to transfer amounts from the general fund of the Treasury to the Highway Trust Fund if the Secretary determines that the amount in such Fund is insufficient to meet anticipated payments for FY2009. Establishes a Joint Select Committee on Earmark Reform to study and report on the practices of Congress and the executive branch regarding earmarks in appropriations, tax, and tariff measures.Declares it not in order in [...] show full description H.R.5908 - To amend the Internal Revenue Code of 1986 to provide a permanent zero percent capital gains rate for individuals and corporations.
Latest Action: 04/24/2008 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to provide a permanent zero percent capital gains rate for individuals and corporations. 4/24/2008--Introduced.
Amends the Internal Revenue Code to establish, on a permanent basis, a zero percent tax rate for the net capital gains of individuals and corporations for purposes of the regular and alternative minimum tax. Eliminates the terminating date in the Jobs and Growth Tax Relief Reconciliation Act of 2003 (i.e., December 31, 2008) for provisions that reduce the capital gains tax rate for individuals. S.2886 - A bill to amend the Internal Revenue Code of 1986 to amend certain expiring provisions.
Latest Action: 04/17/2008 - Sponsor introductory remarks on measure. (CR S3156-3157) Bill Text A bill to amend the Internal Revenue Code of 1986 to amend certain expiring provisions. 4/17/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against alternative minimum tax (AMT) liability; and (2) increased AMT exemption amounts.Extends through 2009: (1) the election to include combat zone compensation as earned income for purposes of the earned income tax credit; (2) tax-free distributions from individual retirement plans (IRAs) for individuals called or ordered to active military duty and for charitable purposes; (3) the election to deduct state and local sales taxes in lieu of state and local income taxes; (4) the tax deductions for qualified tuition [...] show full description S.2885 - A bill to amend the Internal Revenue Code of 1986 to expand the availability of industrial development bonds to facilities manufacturing intangible property.
Latest Action: 04/17/2008 - Sponsor introductory remarks on measure. (CR S3155-3156) Bill Text A bill to amend the Internal Revenue Code of 1986 to expand the availability of industrial development bonds to facilities manufacturing intangible property. 4/17/2008--Introduced.
Amends the Internal Revenue Code to: (1) qualify manufacturing facilities that create intangible property for tax-exempt bond financing; and (2) revise the definition of "manufacturing facility" for purposes of certain limitations on tax-exempt bond financing to include facilities which are functionally related and subordinate to a manufacturing facility. |
