Latest Action: 11/19/2008 - Sponsor introductory remarks on measure. (CR S10607)

Bill Text
A bill making supplemental appropriations for job creation and preservation, infrastructure investment, and economic and energy assistance for the fiscal year ending September 30, 2009, and for other purposes. 11/17/2008--Introduced. Economic Recovery Act of 2008 - Makes supplemental appropriations for FY2009 for infrastructure, energy, and economic recovery for: (1) the Department of Agriculture; (2) the Department of Commerce; (3) the Department of Justice (DOJ); (4) the National Aeronautics and Space Administration (NASA); (5) the Legal Services Corporation; (6) the Department of Defense (DOD) - Civil for the Department of the Army Corps of Engineer; (7) the Department of Energy (DOE); (8) the Department of the Treasury, including the Office of Inspector General; (9) the Commodity Futures Trading Commission (CFTC); (10) the General Services Administration (GSA); (11) the Small Business Administration (SBA); (12) the Department of Homeland Security (DHS); (13) the Department [...]

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Latest Action: 09/17/2008 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8954)

Bill Text
A bill to prohibit the Board of Governors of the Federal Reserve System from making funds available at a discount rate to private individuals, partnerships, and corporations.

9/17/2008--Introduced.

Amends the Federal Reserve Act to repeal the authority of the Board of Governors of the Federal Reserve System, in unusual and exigent circumstances, to discount federal reserve bank-indorsed or -secured notes, drafts, and bills of exchange for private individuals, partnerships, or corporations unable to secure adequate credit accommodations from other banking institutions.

Latest Action: 07/31/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using revolving credit arrangements and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary.

7/31/2008--Introduced.

Amends the Internal Revenue Code to: (1) prohibit tax-exempt employer pension or benefit plans from making a loan to any plan beneficiary through a revolving credit arrangement; and (2) limit to three the number of loans a plan can make to a plan participant or beneficiary without tax consequences.

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 [...]

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Latest Action: 07/17/2008 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using a credit card or other intermediary and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary.

7/17/2008--Introduced.

Amends the Internal Revenue Code to: (1) prohibit tax-exempt employer pension or benefit plans from making a loan to any plan beneficiary through the use of a credit card or other intermediary; and (2) limit to three the number of loans a plan can make to a plan participant or beneficiary without tax consequences.

Latest Action: 07/14/2008 - Read twice and referred to the Committee on Small Business and Entrepreneurship.

Bill Text
A bill to reauthorize the women's entrepreneurial development programs of the Small Business Administration, and for other purposes. 7/14/2008--Introduced. SBA Women's Business Programs Act of 2008 - Amends the Women's Business Ownership Act of 1988 to direct the National Women's Business Council to: (1) conduct at least one annual study that evaluates problems hindering the success of women entrepreneurs; and (2) report biannually on its initiatives, policies, programs, and plans. Amends the Small Business Act relating to the women's business center program (program) to replace the five-year projects for the benefit of small businesses owned and controlled by women with a three-tiered program of five-year (first tier), three-year (second tier), and three-year (third tier) projects, with each tier commencing after the previous tier is being completed. Revises matching funds requirements for such projects. States that organizations that have conducted projects [...]

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Latest Action: 04/17/2008 - Referred to the House Committee on Financial Services.

Bill Text
To provide regulatory relief and improve productivity for insured depository institutions, and for other purposes. 4/17/2008--Introduced. Bank and Thrift Regulatory Relief Act of 2008 - Amends the Revised Statutes of the United States to authorize the Comptroller of the Currency, in lieu of requirements relating to the ownership of capital stock in the national bank, to permit an individual to serve as a director of a national bank that has elected, or notified the Comptroller of its intention, to operate as a S corporation under the Internal Revenue Code. Authorizes the Comptroller to prescribe regulations that permit a national bank to be organized other than as a body corporate (that is, as an alternative business organization). Amends the Home Owners' Loan Act governing federal savings associations to: (1) increase their investment in small business investment companies from 1% to 5%; (2) permit investments in auto loans; (3) repeal the qualified thrift lender requirement [...]

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Latest Action: 04/08/2008 - Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the commit

Bill Text
To amend the Internal Revenue Code of 1986 to provide taxpayer protection and assistance, and for other purposes. 4/8/2008--Introduced. Taxpayer Bill of Rights Act of 2008 - Amends the Internal Revenue Code to require the Secretary of the Treasury to publish a summary statement of specified taxpayer rights and obligations.Authorizes the Secretary to: (1) make grants to provide matching funds for qualified return preparation programs that provide volunteer income tax preparation assistance to low-income taxpayers; and (2) refer such taxpayers to taxpayer clinics funded by the federal government. Requires the Secretary to establish a system for regulating and testing federal income tax return preparers.Requires refund loan facilitators to file annual registrations with the Secretary and to make certain disclosures to borrowers about refund anticipation loans.Expands and increases penalties on tax return preparers for understating taxpayer liabilities.[...]

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Latest Action: 04/16/2008 - 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 conform return preparer penalty standards, delay implementation of withholding taxes on government contractors, enhance taxpayer protections, assist low-income taxpayers, and for other purposes. 4/15/2008--Passed House amended.    (There are 2 other summaries) Taxpayer Assistance and Simplification Act of 2008 - (Sec. 2) Amends the Internal Revenue Code to modify the standards for imposing penalties on tax return preparers for understatements of tax to require: (1) substantial authority for a position with respect to an item on a tax return if such position was not disclosed with the return; and (2) a reasonable basis for a position that was disclosed with the return. Requires tax return preparers to have a reasonable belief that a position with respect to a tax shelter or a reportable transaction (a transaction having a potential for tax avoidance or evasion) will more likely than not be sustained on [...]

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Latest Action: 03/14/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to permit hardship loans from certain individual retirement plans.

3/14/2008--Introduced.

IRA Assistance Act of 2008 - Amends the Internal Revenue Code to allow premature distributions from individual retirement accounts (other than Roth IRAs) without penalty to make hardship loans.

Latest Action: 10/29/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To provide emergency tax relief for persons affected by California wildfires in October of 2007.

10/29/2007--Introduced.

California Wildfire Tax Relief Act of 2007 - Provides special tax treatment for taxpayers in areas affected by the California wildfires of October 2007 relating to: (1) nonrecognition of gain from the involuntary conversion of property; (2) limitations on charitable contributions for relief efforts; (3) the exclusion from gross income for discharges of indebtedness; (4) mortgage revenue bonds; (5) limitations on personal casualty losses; (6) additional tax exemptions for providing housing for displaced individuals; (7) earned income calculations; (8) dependency status for purposes of tax exemptions or the child tax credit; (9) premature withdrawals from retirement plans; (10) income averaging; (11) recontributions to tax-deferred home purchase plans; and (12) loans from tax-qualified employer plans.

Latest Action: 09/05/2007 - Sponsor introductory remarks on measure. (CR H10099-10100)

Bill Text
To extend tax relief to the residents and businesses of an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1711-DR) by reason of severe storms and flooding beginning on June 26, 2007, and determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act. 8/3/2007--Introduced. Kansas Flood Recovery and Economic Opportunity Act of 2007 - Establishes the federal share of assistance for the state of Kansas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act for the storms and flooding in that state between June 26, 2007, and July 25, 2007, at 100% of eligible costs. Extends to certain areas in Kansas declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1711-DR, as in effect on the date of [...]

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Latest Action: 08/03/2007 - Sponsor introductory remarks on measure. (CR S10905)

Bill Text
A bill to amend part D of title III of the Public Health Service Act to authorize grants and loan guarantees for health centers to enable the centers to fund capital needs projects, and for other purposes.

8/3/2007--Introduced.

Build, Update, Improve, Lift, and Design Health Centers Act of 2007 or the BUILD Act – Amends the Public Health Service Act to require the Secretary of Health and Human Services to award grants to health centers to: (1) modernize, expand, and replace existing facilities; and (2) construct new facilities at such centers.

Requires the Secretary to establish a loan guarantee program for loans to health centers for capital need projects, including: (1) acquiring, leasing, modernizing, expanding, or replacing existing facilities; (2) constructing new facilities; (3) purchasing or leasing equipment; and (4) the costs of refinancing loans made for any such projects.

Latest Action: 06/26/2008 - Subcommittee Consideration and Mark-up Session Held.

Bill Text
To amend the Servicemembers Civil Relief Act to allow individuals called to military service to terminate or suspend certain service contracts entered into before the individual receives notice of a permanent change of station or deployment orders and to provide penalties for violations of interest rate limitations. 8/1/2007--Introduced. 21st Century Servicemembers Protection Act - Amends the Servicemembers Civil Relief Act to allow individuals called to military service to terminate or suspend a service contract, after the date of entry into service or the date of the military orders, if: (1) the service contract (such as phone, cable, Internet, or utilities) is executed before the individual is called to service for a period of at least 90 days; or (2) the person enters into the contract while in military service and thereafter receives orders for a change of permanent station to a location outside the United States, or to deploy with a military unit for a period of at least [...]

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Latest Action: 09/05/2007 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Bill Text
To amend the Small Business Act to improve trade programs, and for other purposes. 9/4/2007--Passed House amended.    (There are 2 other summaries) (This measure has not been amended since it was reported to the House on September 4, 2007. The summary of that version is repeated here.) SBA Trade Programs Act of 2007 - Title I: Small Business Trade Policy - (Sec. 101) Amends the Small Business Act to require the director of the Office of International Trade (Office) within the Small Business Administration (SBA) to: (1) present recommendations regarding small business exporters to trade negotiators; (2) develop trade policies that support small businesses in domestic and foreign markets; (3) implement trade policies through relationships developed with federal trade policymakers and transnational organizations; (4) establish programs to boost exports of entrepreneurs and encourage transnational organizations to support and publicize [...]

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Latest Action: 09/11/2007 - Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.

Bill Text
To amend the Elementary and Secondary Education Act of 1965 to reauthorize the laws relating to public charter schools to improve academic achievement of all students. 6/28/2007--Introduced. Charter School Program Enhancement Act of 2007 - Amends the Elementary and Secondary Education Act of 1965 to authorize the Secretary of Education to award grants to authorized public chartering agencies, in addition to state educational agencies, for the provision of subgrants to charter school developers or nonprofit charter support organizations assisting such developers. Raises the maximum term of such grants. Extends grant priority to states that: (1) provide public charter schools with funding commensurate with that provided to other public schools; (2) focus on creating such schools in areas that have many schools designated as needing improvement; and (3) demonstrate that a high percentage of its charter school students are meeting, exceeding, or making sufficient progress [...]

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Latest Action: 06/26/2007 - Sponsor introductory remarks on measure. (CR E1415)

Bill Text
To amend the Truth in Lending Act and the Federal Deposit Insurance Act to prohibit payday loans based on checks drawn on, or authorized withdrawals from, depository institutions and to prohibit insured depository institutions from making payday loans, and for other purposes.

6/26/2007--Introduced.

Payday Loan Reform Act of 2007 - Amends the Truth in Lending Act to prohibit payday loans based on checks drawn on, or authorized withdrawals from, insured depository institutions.

Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from: (1) making or extending a payday loan, either directly or indirectly; or (2) making any loan to any other lender for purposes of financing, refinancing, or extending any payday loan.

Declares payday loan instruments or transactions void from inception.

Latest Action: 05/22/2007 - Sponsor introductory remarks on measure. (CR S6477-6478)

Bill Text
A bill to authorize appropriations for the Housing Assistance Council.

5/22/2007--Introduced.

Housing Assistance Council Authorization Act of 2007 - Authorizes the Secretary of Housing and Urban Development to provide financial assistance to the Housing Assistance Council to develop the capacity of community-based housing development organizations to undertake community development and affordable housing projects and programs in rural areas.

Authorizes the Council to use such assistance for rural community-based housing development organizations to acquire: (1) technical assistance, training, support, and advice to develop business and administrative capabilities; and (2) loans, grants, or other financial assistance to carry out community development and affordable housing activities for low- and moderate-income families.

Latest Action: 06/19/2007 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Bill Text
To reauthorize the women's entrepreneurial development programs of the Small Business Administration, and for other purposes. 6/18/2007--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.) SBA Women's Business Programs Act of 2007 - Title I: National Women's Business Council - Amends the Women's Business Ownership Act of 1988 to direct the National Women's Business Council to: (1) conduct at least one annual study that evaluates problems hindering the success of women entrepreneurs; and (2) report biannually on its initiatives, policies, programs, and plans. Title II: Women's Business Centers - Amends the Small Business Act relating to the women's business center program (program) to replace the five-year projects for the benefit of small businesses owned and controlled by women [...]

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Latest Action: 05/08/2007 - Referred to the Subcommittee on Technology and Innovation.

Bill Text
To provide support for small business concerns, and for other purposes. 5/3/2007--Introduced. Small Business Investment and Promotion Act of 2007 - Amends the Internal Revenue Code to: (1) provide to small business owners and operators of farming or commercial fishing businesses a temporary credit for excessive fuel costs paid or incurred in the operation of such business; (2) make permanent the credit for increasing research activities; and (3) treat as 15-year property for purposes of the depreciation deduction qualified restaurant property, qualified retail improvement property, and certain systems installed in nonresidential buildings. Authorizes appropriations for FY2008-FY2009 for: (1) the Advanced Technology Program; (2) the Service Corps of Retired Executives (SCORE); (3) small business development centers; (4) the Manufacturing Extension Partnership program; and (5) the Women's Business Centers program. Expresses the sense of Congress calling for appropriate [...]

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Latest Action: 04/25/2007 - Sponsor introductory remarks on measure. (CR S5101-5102)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide taxpayer protection and assistance, and for other purposes. 4/25/2007--Introduced. Taxpayer Protection and Assistance Act of 2007 - Amends the Internal Revenue Code to authorize the Secretary of the Treasury to: (1) make grants for tax return preparation clinics for low-income taxpayers; (2) allow enrolled agents licensed to practice before the Internal Revenue Service (IRS) to use designation of "EA" or "E.A."; (3) regulate and test paid income tax preparers; (4) contract for the development or administration of examinations for paid income tax preparers; (5) require the registration of refund anticipation loan facilitators; and (6) award demonstration project grants to assist low-income taxpayers without bank accounts to obtain such accounts with federally-insured depository institutions.Establishes in the IRS the Office of Professional Responsibility to administer the regulation of paid [...]

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Latest Action: 07/17/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To authorize appropriations for the Housing Assistance Council. 7/16/2007--Passed House without amendment.    (There are 2 other summaries) (This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.) Housing Assistance Council Authorization Act of 2007 - Authorizes the Secretary of Housing and Urban Development to provide financial assistance to the Housing Assistance Council to develop the capacity of community-based housing development organizations to undertake community development and affordable housing projects and programs in rural areas. Authorizes the Council to use such assistance for rural community-based housing development organizations to acquire: (1) technical assistance, training, support, and advice to develop business and administrative capabilities; and (2) loans, grants, or other financial assistance to carry out community development and affordable [...]

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Latest Action: 04/19/2007 - Referred to the Subcommittee on Energy and Air Quality.

Bill Text
To provide incentives to the auto industry to accelerate efforts to develop more energy-efficient vehicles to lessen dependence on oil. 4/18/2007--Introduced. Health Care for Hybrids Act - Requires the Secretaries of Energy, Health and Human Services, Transportation, and the Treasury to establish a task force to create a program to reimburse certain domestic automobile manufacturers for a portion (up to 10%) of the annual health care coverage costs for their retired employees. Requires such manufacturers to invest at least 50% of their health care cost savings in petroleum fuel reduction technologies, including alternative or flexible fuel vehicles and hybrids, and in the retraining of workers and retooling of manufacturing plants. Terminates such program on December 31, 2017. Amends the Internal Revenue Code to: (1) define economic substance for purposes of evaluating tax shelter transactions; (2) impose penalties for understatements of tax liability resulting from [...]

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