jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-07-27 00:00:00

Stop Tax Haven Abuse Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of prime money laundering concern or that impede U.S. tax enforcement. Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act (FATCA), (2) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, (3) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts, (4) treat credit default swap payments sent offshore as taxable U.S. source income, (5) allow the use of tax return information to evaluate foreign financial account reports, (6) increase penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability, (7) prohibit tax advisor contingent fee agreements for obtaining a tax savings or benefit, and (8) impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons). Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission (SEC) to report annually, on a country-by country basis, on employees, sales, financing, tax obligations, and tax payments; and (2) authorize a fine of up to $1 million for failure to disclose any holding or transaction involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements. Requires the Secretary to publish a proposed rule in the Federal Register requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs and submit suspicious activity reports. Extends anti-money laundering requirements to persons engaged in the business of forming new businesses or other legal entities. Requires federal banking agencies and the SEC to develop examination techniques to detect and prevent abusive tax shelter activities or the aiding or abetting of tax evasion by financial institutions. Requires the Secretary to: (1) disclose tax return information to federal financial regulators for purposes of tax shelter investigations; (2) disclose to Congress documents relating to a determination to grant, deny, revoke, or restore the tax-exempt status of an organization; and (3) expand the standards applicable to tax practitioners for issuing written advice on transactions which have a potential for tax avoidance or evasion.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-07-29 00:00:00

Fair and Impartial Reform Tax Act of 2011 - Amends the Internal Revenue Code to: (1) revise income tax rates for individuals and increase such rates for taxpayers with adjusted gross incomes in excess of $500,000, (2) impose limits on and phaseouts of personal exemptions and itemized deductions for high income taxpayers, (3) increase the tax rate on net capital gains and dividend income, and (4) increase the alternative minimum tax (AMT) on the net capital gains of noncorporate taxpayers for taxable years beginning after 2011. Makes the general terminating date of the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) (i.e., December 31, 2012) applicable to the amendments made by this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-08-01 00:00:00

Jump Start American Small Business Innovation Act of 2011 - Amends the Internal Revenue Code to extend through 2011 the increased tax deduction for the start-up expenditures of an active trade or business.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-08-01 00:00:00

Share Your Spare Act of 2011 - Amends the Internal Revenue Code to allow a nonrefundable, one-time, tax credit for a donation of a qualified life-saving organ for transplantation by a living individual into another individual. Defines "qualified life-saving organ" as a kidney, liver, lung, pancreas, intestine, bone marrow, or any part thereof. Limits the annual amount of such credit to $10,000 of the unreimbursed costs and lost wages incurred by an organ donor in connection with an organ transplant. Amends: (1) the Public Health Service Act to reduce federal living organ donation grants by any tax credit for organ donation received under this Act, and (2) the National Organ Transplant Act to provide that any such tax credit shall not be deemed valuable consideration for purposes of the ban against organ purchases.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-08-01 00:00:00

Amends the Internal Revenue Code, with respect to regulations governing the tax deduction for income attributable to domestic production activities, to specify that such regulations shall be written to prevent more than one taxpayer from being allowed a deduction with respect to the same qualified production activities income derived from any activity qualifying for a tax deduction.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-08-05 00:00:00

Workforce Fairness and Tax Relief Act of 2011 - Amends the Internal Revenue Code to: (1) repeal the inclusion of unemployment compensation in gross income for income tax purposes, (2) exclude from gross income trade adjustment assistance (TAA) provided by the Trade Act of 1974, and (3) allow penalty-free distributions from tax-exempt retirement plans to individuals who have been separated from employment and have received unemployment compensation for 24 consecutive weeks.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-08-16 00:00:00

Allows taxpayers to elect to include any payment from BP PLC for damages related to the blowout and explosion on the mobile offshore drilling unit Deepwater Horizon that occurred on April 20, 2010, in gross income ratably over a three-year period for tax purposes (income averaging).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-12 00:00:00

Invest in America Act of 2011 - Amends the Internal Revenue Code to allow taxpayers, other than corporations, to exclude from gross income net capital gains (defined as including dividend income) for taxable years beginning after December 31, 2011, and before January 1, 2022.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-14 00:00:00

American Jobs Act of 2011 - Amends the Internal Revenue Code to: (1) reduce the rate of the income tax on corporations to 0% of taxable income, and (2) eliminate the alternative minimum tax (AMT) on corporations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-15 00:00:00

Capital Gains Inflation Relief Act of 2011 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-15 00:00:00

Charitable Agricultural Research Act - Amends the Internal Revenue Code to: (1) allow a tax deduction for a charitable contribution to an agricultural research organization directly engaged in the continuous active conduct of agricultural research, and (2) make prohibitions against expenditures to influence legislation applicable to such organizations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-15 00:00:00

Roofing Efficiency Jobs Act of 2011 - Amends the Internal Revenue Code to classify any qualified energy-efficient cool roof replacement property as 20-year property for depreciation purposes.  Defines "qualified energy-efficient cool roof replacement property" as any roof system that: (1) is placed in service above conditioned or semiheated space on an eligible commercial building, (2) replaces an existing roof system, (3) is a  low-slope roof, and (4) includes insulation meeting specified standards and a primary roof covering that has a cool roof surface.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-21 00:00:00

Real Estate Jobs and Investment Act of 2011 - Amends the Internal Revenue Code to increase from 5% to 10% the allowable ownership interest in real estate investment trust (REIT) stock for purposes of tax exemptions allowed by the Foreign Investment in Real Property Tax Act relating to foreign investment in United States real property interests.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-09-22 00:00:00

Corporate Assets Should be used to Hire Act - Amends the Internal Revenue Code to impose on domestic corporations in taxable years beginning in 2011 or 2012 an additional 40% tax on the excess of their retained earnings over their average retained earnings for the preceding 3 taxable years.  Exempts certain corporations from such tax, including corporations with retained earnings of less than $5 million in a taxable year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-10-04 00:00:00

Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 for provisions reducing individual tax rates on capital gains and dividend income.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-10-05 00:00:00

Fairness in the American Tax Code Act of 2011 - Amends the Internal Revenue Code to impose an additional tax for taxable years beginning after December 31, 2011, on individual taxpayers equal to: (1) 5% of modified adjusted gross income exceeding $350,000, up to $500,000; (2) 10% of such income exceeding $500,00, up to $1 million; (3) 15% of such income exceeding $1 million, up to $10 million; and (4) 20% of such income exceeding $10 million. Defines "modified adjusted gross income" as adjusted gross income reduced by any deduction allowed for investment interest.  Provides for a cost-of-living adjustment to the income levels subject to additional tax for taxable years beginning after 2011.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-10-06 00:00:00

American Job Creation and Investment Act of 2011 - Amends the Internal Revenue Code, with respect to the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation, to: (1) repeal the $30 million cap on the AMT tax credit and increase the rate of such credit from 6% to 50%, (2) allow investments made by partnerships that are more than 50% owned by a corporation to qualify for such increased AMT credit amount, and (3) allow taxpayers to make separate elections for each taxable year to take bonus depreciation or AMT credits in lieu of bonus depreciation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-10-13 00:00:00

Hunger Relief Trucking Tax Credit Act - Amends the Internal Revenue Code to allow a tax credit for the cost of transporting food to assist hunger relief efforts of certain charitable organizations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-10-14 00:00:00

Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2016, (2) provide for an inflation adjustment to the limitation amount for such credit after 2012, and (3) allow an offset against the alternative minimum tax (AMT) for such credit (determined with respect to qualified equity investments made before January 1, 2017).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-10-14 00:00:00

Amends the Internal Revenue Code to increase the tax deduction for the start-up expenditures of an active trade or business from $5,000 to $20,000 in taxable years beginning in 2011 through 2014.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-02 00:00:00

Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures; (2) the tax credits for the purchase of certain plug-in electric vehicles and alternative motor vehicles; (3) the alternative fuel vehicle refueling property tax credit; (4) the tax credits for alcohol used as fuel and for biodiesel and renewable diesel used as fuel; (5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells; (6) the tax credit for carbon dioxide sequestration; (7) the energy tax credit; and (8) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects. Terminates after 2012 the tax credits for the production of electricity from certain renewable resources and from advanced nuclear power facilities. Repeals the grant program under the American Recovery and Reinvestment Act of 2009 for payments to invest in alternative and renewable energy property in lieu of tax credits. Directs the Secretary of the Treasury to prescribe a flat income tax rate for corporations, in lieu of the existing marginal tax rates, based upon the overall revenue savings from the repeal of energy tax subsidies by this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-02 00:00:00

Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security: (1) if such purchase occurs on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person. Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; and (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, notional principal contract, or any similar financial instrument). Exempts from such tax: (1) initial issues of securities; (2) any note, bond, debenture, or other evidence of indebtedness which has a fixed maturity of not more than 100 days; and (3) securities traded pursuant to certain lending arrangements.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-02 00:00:00

Growing Jobs Through Capital Act of 2011 - Amends the Internal Revenue Code to exclude gain from the sale or exchange of a capital asset from gross income for income tax purposes. Terminates such tax exclusion two years after the enactment of this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-04 00:00:00

Amends the Internal Revenue Code to extend through 2012 the tax rule that excludes bonus depreciation allowed for certain depreciable business assets as a cost allocated to a contract under the percentage of completion method for long-term contracts.
Topic: Macroeconomics — Tax Code
Subject: Government operations and politics
Date: 2011-11-04 00:00:00

Saving Over Spending Act - Allows 50% of any unobligated balance of an appropriated amount available for salaries and expenses that would otherwise expire at the end of a fiscal year to remain available for expenditure for the subsequent fiscal year and allocates the other 50% for deficit reduction.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-10 00:00:00

Hiring Our Veterans Act of 2011 - Amends the Internal Revenue Code to: (1) increase the amount of wages eligible for the work opportunity tax credit for veterans who are hired after being unemployed for six months or more during the one-year period ending on the hiring date ($14,000 of first-year wages) or disabled veterans who are either hired within one year after discharge from active duty ($12,000 of first-year wages) or who are hired after being unemployed for six months or more during the one-year period ending on the hiring date ($24,000 of first-year wages), and (2) allow tax-exempt organizations to claim the lesser of the amount of the work opportunity tax credit for hiring veterans or the amount of the payroll taxes paid by such organizations during the calendar year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-16 00:00:00

Child Tax Credit Integrity Preservation Act of 2011 - Amends the Internal Revenue Code to expand the identification requirements for the child tax credit to require taxpayers to provide valid identification numbers on their tax returns in addition to the names and identification numbers of each qualifying child.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-16 00:00:00

Returning Investment to America Act of 2011 - Amends the Internal Revenue Code to allow an extension of the election allowed to domestic corporations to deduct dividends received from controlled foreign corporations (election may be made for any taxable year beginning before December 31, 2012).  Limits the amount of such deduction in any taxable year to the amount by which the domestic corporation increases its payroll and by the amount of its investment in depreciable business assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-17 00:00:00

Sensible Estate Tax Act of 2011 - Amends the Internal Revenue Code to: (1) establish new estate tax rates of between 37% (for estates with a value in excess of $500,000) and 55% (for estates with a value in excess of $10 million), (2) allow a $1 million estate tax exclusion, and (3) provide for an inflation adjustment to such amounts for decedents dying after 2012. Repeals the termination date applicable to the estate and gift tax provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (i.e., December 31, 2012). Restores the estate tax credit for any estate, inheritance, legacy, or succession taxes paid to a state (expired after 2004). Repeals the deduction currently allowed for such taxes. Sets forth estate valuation rules for certain transfers of nonbusiness assets and limits estate tax discounts for certain individuals with minority interests in a business acquired from a decedent. Requires that the value of the basis in any property acquired from a decedent or by gift be consistent with the basis as determined for estate and gift tax purposes. Requires executors of estates and donors of gifts required to file a gift tax return to disclose to the Secretary of the Treasury, and to recipients of any interest in an estate or a gift, information identifying the value of each interest received. Expands rules for valuing assets in grantor retained annuity trusts to require that: (1) the right to receive fixed amounts from an annuity last for a term of not less than 10 years and that such fixed amounts not decrease during the first 10 years of the annuity term, and (2) the remainder interest have a value greater than zero when transferred. Terminates the generation-skipping transfer exemption for certain long-term trusts (perpetual dynasty trusts) 90 years after the establishment of such trusts.
Topic: Macroeconomics — Tax Code
Subject: Government operations and politics
Date: 2011-11-29 00:00:00

Prohibits for the two-year period beginning on the enactment of this Act: (1) any federal agency from making any rule that would affect employment levels, and (2) Congress from enacting any law that would result in a tax increase on any person or entity.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-12-02 00:00:00

Social Security Preservation through Individual Choice Enhancement Act - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to allow individual taxpayers an election to claim the 2% reduction in employment taxes under such Act in any calendar year beginning in or after 2012. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to increase the applicable social security retirement age by one month for each calendar year that a taxpayer elects a reduction in employment taxes under this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-12-06 00:00:00

Entrepreneur Startup Growth Act of 2011 - Directs the Commissioner of the Internal Revenue Service (IRS), in consultation with the Administrator of the Small Business Administration (SBA), to establish a self-employment tax initiative grant program to provide certain self-employed individuals with modified adjusted gross incomes of $50,000 or less with affordable tax preparation and business development assistance. Authorizes the Commissioner to make program grants of not more than $75,000 to community-based organizations, microlenders, nonprofit organizations, institutions of higher education, and local governments. Directs the Comptroller General to study and report on such program, including program outcomes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-12-19 00:00:00

Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions of food inventory; (2) set forth rules for determining the basis and fair market value of contributed food; and (3) increase from 10% to 15% of taxpayer net income the amount of deductible food inventory contributions which a taxpayer, including a C corporation, may make in any taxable year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-12-20 00:00:00

Amends the Internal Revenue Code to make permanent and increase the alternative minimum tax (AMT) exemption amount to $100,000 for married couples filing a joint tax return and surviving spouses and to $75,000 for unmarried individuals. Adjusts such increased exemption amounts for inflation in taxable years beginning after 2012.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-01-18 00:00:00

Amends the Internal Revenue Code to allow a taxpayer to elect, during the five-year period after the enactment of this Act, to treat any contribution to a qualified regional infrastructure improvement zone as a tax deductible ordinary and necessary business expense. Defines "qualified regional infrastructure improvement zone" as any zone created and designated by a multi-jurisdictional regional planning organization to undertake public infrastructure improvement projects.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-01-23 00:00:00

American Opportunity and Freedom Act of 2012 - Repeals the terminating date (i.e., December 31, 2012) of: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, thus making such Act permanent; and (2) provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 reducing tax rates on dividends and capital gains. Repeals the estate and generation-skipping transfer taxes for decedents dying and transfers made after December 31, 2010. Repeals the alternative minimum tax (AMT) for individuals for taxable years beginning after 2010. Repeals: (1) the increase in the excise tax rate on tobacco products, and (2) revenue offset provisions of the Patient Protection and Affordable Care Act (PPACA) and other tax provisions relating to the individual and employer mandate requiring the purchase of health insurance under PPACA.