jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-16 00:00:00

Amends the Internal Revenue Code to make permanent the 15-year recovery period for purposes of the tax deduction for depreciation of qualified restaurant property. Revises the term "qualified restaurant property" to include existing buildings as well as improvements to buildings.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-18 00:00:00

Offshore Deferred Compensation Reform Act of 2007 - Amends the Internal Revenue Code to require the inclusion in gross income for income tax purposes of employee compensation deferred under a nonqualified deferred compensation plan of a nonqualified foreign corporation when there is no substantial risk of forfeiture of the rights to such compensation. Defines "nonqualified foreign corporation" as any foreign corporation unless substantially all of its income is: (1) effectively connected with a trade or business in the United States; or (2) subject to an income tax imposed by a foreign country that has a comprehensive tax treaty with the United States.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-25 00:00:00

Amends the Internal Revenue Code to make permanent the tax deduction for state and local general sales taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-29 00:00:00

Youth Exchange Support Act of 2007- Amends the Internal Revenue Code to: (1) increase, from $50 to $200 per month, the tax deduction for the expenses of certain students living in a taxpayer's household; and (2) provide an inflation adjustment, beginning in 2009, for such amount.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-30 00:00:00

Amends the Internal Revenue Code to extend through 2009 the exemption from tax penalties for premature distributions from retirement plans made for charitable purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-11-07 00:00:00

AMT Repeal and Tax Freedom Act - Amends the Internal Revenue Code to repeal the alternative minimum tax for individual taxpayers after 2006.Exempts individual taxpayers who had no alternative minimum tax liability in the taxable year preceding 2006 from estimated income tax penalties for taxable years beginning in 2006.Makes permanent reductions in income tax rates enacted by the Economic Growth and Tax Relief and Reconciliation Act of 2001 and capital gains and dividends tax rates enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-11-15 00:00:00

Property Tax Fairness Act of 2007 - Amends the Internal Revenue Code to: (1) allow an additional standard tax deduction in 2007 or 2008 (available to taxpayers who do not itemize) for state and local real property taxes; and (2) include within the reporting requirements of investment brokers the adjusted basis of any security owned by customers of such brokers.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-11-15 00:00:00

Amends the Internal Revenue Code to: (1) exclude participations and residuals from the dollar limitation on the taxpayer election to expense qualified film and television production costs; (2) allow amortization of costs ineligible for expensing; and (3) make such expensing election permanent.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-11-16 00:00:00

Amends Internal Revenue Code provisions relating to taxation of U.S. shareholders of controlled foreign corporations to: (1) exclude from foreign personal holding company income rents and royalties attributable to computer software that is leased or licensed for use outside the United States and that was developed or marketed by a controlled foreign corporation or related person; (2) increase to $5 million (currently, $1 million) the de minimis dollar amount for determinations of foreign base company income; (3) permanently extend the look-thru rule for for the tax treatment of income received or accrued from a controlled foreign corporation; and (4) permanently extend the exemption from foreign personal holding company income for active financing income (income from insurance, banking, financing, or similar businesses) earned on business operations overseas.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-11-16 00:00:00

Amends the Internal Revenue Code to: (1) increase the alternative minimum tax (AMT) refundable credit amount for individuals who have long-term unused minimum tax credits from prior taxable years; and (2) abate any underpayment of tax attributable to the application of special AMT rules for the treatment of incentive stock options.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-12-05 00:00:00

Taxpayer Choice Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the alternative minimum tax on individual taxpayers after 2006; and (2) allow taxpayers to elect an alternative income tax system.Makes permanent the capital gains and dividends rate reductions enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2001.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-12-06 00:00:00

AMT Equity Act of 2007 - Amends the Internal Revenue Code to extend through 2007: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liability; and (2) the increased AMT exemption amounts. Repeals, for taxable years beginning in 2007, the AMT for individual taxpayers whose adjusted gross income does not exceed $100,000 ($200,000 in the case of a joint return). Imposes, for taxable years beginning in 2007, a graduated increase in capital gains tax rates for any individual taxpayer whose adjusted gross income exceeds $1 million ($2 million in the case of a joint return). Exempts such a taxpayer from any estimated tax penalties resulting from an increase in capital gains tax rates in 2007.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-12-18 00:00:00

Freedom to Choose Tax Reform Act of 2007 - Amends the Internal Revenue Code to allow individual taxpayers an election to choose an alternative income tax system, in lieu of the current tax system. Provides for two tax brackets of 10 and 23%. Eliminates all existing tax credits, but allows a $1,000 freedom to choose tax reform individual tax credit and a credit for overpayment of tax.Establishes the Commission on Congressional Budgetary Accountability and Review of Federal Agencies. Directs the President to: (1) designate two Commission co-chairpersons; (2) establish a systematic method for assessing the effectiveness and accountability of federal agency programs; (3) divide such programs into four equal budgetary parts; (4) submit to the Commission annual assessments of the programs within each part (one each year) that use such method; and (5) identify common performance measures for programs having similar functions and provide the Commission with data on such measures. Requires the Commission to: (1) evaluate executive agencies and their programs identified in each assessment; (2) consider submitted assessments in evaluating programs; and (3) submit to Congress each of the next four years a plan recommending agencies and programs that should be realigned or eliminated and proposing implementing legislation. Provides for expedited consideration of such legislation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-01-22 00:00:00

Amends the Internal Revenue Code to increase from 30 to 50% the bonus depreciation for new business equipment placed in service in 2008 and 2009.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-01-22 00:00:00

Amends the Internal Revenue Code to allow a current year tax deduction of the cost of business equipment placed in service in 2008 and 2009 for which cost recovery periods of three, five, or seven years are currently allowed.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-01-29 00:00:00

Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-01-30 00:00:00

Amends the Internal Revenue Code to: (1) increase from 30 to 50% the rate of the special depreciation allowance (bonus depreciation) for certain business equipment and assets placed in service in 2008; and (2) allow a corporation to elect to increase its alternative minimum tax credit by its bonus depreciation amount in lieu of applying such allowance.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-01-30 00:00:00

Clean Stove Act of 2008 - Amends the Internal Revenue Code to allow individual taxpayers a tax credit, up to $500, for the cost of replacing a residential wood stove with: (1) a wood-burning stove that complies with current Environmental Protection Agency (EPA) standards; and (2) a pellet or corn-burning stove. Terminates such credit after 2010.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-02-05 00:00:00

Economic Growth Act of 2008 - Amends the Internal Revenue Code to: (1) repeal the dollar and other limitations on the expensing allowance of depreciable business assets; (2) reduce to 25% the maximum corporate income tax rate; (3) provide for an inflation adjustment to the basis of certain capital assets for purposes of determining gain or loss; and (4) reduce from 35 to 15% the alternative capital gains tax rate for corporations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-02-13 00:00:00

Amends the Internal Revenue Code to treat income earned by mutual funds from interests holding certain gold, silver, platinum, or palladium bullion that are regularly traded on an established U.S. securities market as qualifying income (i.e., passed through and taxed at individual income tax rates).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-02-14 00:00:00

Beginning Farmers and Ranchers Act of 2008 - Amends the Internal Revenue Code to exclude from gross income 100% of the gain, up to $500,000, from the sale of qualified farm property to a first-time farmer who certifies that such property will be used for farming purposes for 10 years. Allows: (1) a 50% exclusion for the sale of qualified farm property to any other person who certifies that such property will be used for farming purposes for 10 years; and (2) a 25% exclusion for the sale of qualified farm property to any other person for any other use. Defines "qualified farm property" as real property located in the United States which is used for farming purposes for a specified three-year period and in which there was material participation by the taxpayer or the taxpayer's spouse or family member. Requires the recapture of tax benefits if qualified farm property is sold or ceases operation as a farm before the required 10-year period. Increases dollar limitations on bonds issued to finance assistance programs for first-time farmers.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-02-14 00:00:00

Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years beginning or ending during 2006, 2007, or 2008; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-02-26 00:00:00

Modernize Our Bookkeeping In the Law for Employee's Cell Phone Act of 2008 - Amends the Internal Revenue Code to remove certain limitations on the tax deduction for employee use of cellular telephones.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-04-01 00:00:00

Amends the Internal Revenue Code to repeal the restrictions on the tax deduction for the travel expenses of a taxpayer's spouse, dependent, or other individual accompanying the taxpayer on business travel.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-04-14 00:00:00

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 which 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 its merits.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-04-15 00:00:00

Amends the Internal Revenue Code to require an inflation adjustment to the dollar amounts for calculating the tax credit for taxpayers who have attained age 65 or who have retired on disability as permanently and totally disabled.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-04-15 00:00:00

Optional One Page Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs. Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter. Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-04-15 00:00:00

Amends the Internal Revenue Code to prohibit any person who is authorized to originate the electonic submission of a income tax return or statement from charging a separate fee for such electronic submission. Imposes a $50 fine for each violation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-05-19 00:00:00

Reimbursing Our American Drivers (ROAD) Act of 2008 - Increases to 70 cents per mile, for the period after December 31, 2007, and before January 1, 2009: (1) the standard mileage rate for calculating the tax deduction for business, medical, and moving use of an automobile; and (2) the standard mileage rate for reimbursement of federal employee automobile expenses. Increases from 14 to 40 cents per mile the standard mileage rate for purposes of computing the tax deduction for the use of a passenger automobile for charitable purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-05-22 00:00:00

Amends the Internal Revenue Code to make permanent: (1) the special depreciation allowance for certain property acquired after December 31, 2007 (bonus depreciation); and (2) the increased $250,000 expensing allowance for depreciable business assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-05-22 00:00:00

Makes permanent the tax rate reductions for dividends and capital gains enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to: (1) restore the unified credit against the estate and gift tax after 2009; (2) establish the amount of such credit at $3.5 million; and (3) provide for a single 15% estate and gift tax rate.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-06-04 00:00:00

Family Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and make refundable the tax credit for employment-related dependent care expenses; and (2) increase and make permanent the tax deduction for certain expenses of elementary and secondary school teachers. Makes permanent provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 which allow: (1) an expanded tax credit for adoption expenses; and (2) an increased exclusion from the gross income of employees for employer-paid adoption expenses.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-06-12 00:00:00

Amends the Internal Revenue Code to increase from $16,000 to $30,000 the adjusted gross income limitation applicable to qualified performing artists who are eligible to deduct their performance expenses from gross income (above-the-line tax deduction). Provides for an inflation adjustment to such increased income limitation beginning in 2009.
Topic: Macroeconomics — Tax Code
Subject: Environmental protection
Date: 2008-06-25 00:00:00

Harmful Algal Blooms and Hypoxia Amendments Act of 2008 - Amends the Harmful Algal Bloom and Hypoxia Research and Control Act of 1998 to: (1) require the Secretary of Commerce, acting through the National Oceanic and Atmospheric Administration (NOAA), to establish criteria for determining which states should serve on the Inter-Agency Task Force on Harmful Algal Blooms and Hypoxia and to implement a nominations process to select representatives for such Task Force; and (2) require the Task Force's scientific assessments of hypoxia and harmful algal blooms (hypoxia) once (currently, every five years).Requires: (1) the President, acting through the Task Force, to establish a national program to integrate efforts to address hypoxia research, monitoring, prediction, control, mitigation, prevention, and outreach; (2) the Task Force to be the oversight body for the development and implementation of the National Harmful Algal Bloom and Hypoxia Program; and (3) NOAA to be the lead federal agency for implementing and administering such Program. Sets forth the Program's responsibilities and duties, including: (1) promoting a national strategy to help communities understand, detect, predict, control, and mitigate freshwater and marine hypoxia events; (2) maintaining and enhancing the Ecology and Oceanography of Harmful Algal Blooms Program, the Monitoring and Event Response for Harmful Algal Blooms Program, the Northern Gulf of Mexico Ecosystems and Hypoxia Assessment Program, and the Coastal Hypoxia Research Program; and (3) establishing a Mitigation and Control of Harmful Algal Bloom Program.Requires the national hypoxia program to: (1) oversee the development and implementation of Regional Research and Action Plans and identify regions and sub-regions to be addressed by each Plan; and (2) convene regional panels of experts. Requires each panel to develop a Plan that identifies appropriate elements for the region, including: (1) priorities for ecological and socioeconomic research on issues related to, and impacts of, hypoxia; and (2) state and local government actions that may be implemented to monitor, minimize, reduce, and address hypoxia.Requires the Task Force to report to specified congressional committees not less than every five years on hypoxia.Requires: (1) the Secretary, acting through NOAA, to establish a collaborative pilot program with the Environmental Protection Agency (EPA) and other federal agencies to examine hypoxia occurring in freshwater systems; and (2) such program to be located in the Mississippi River Basin watershed.
Topic: Macroeconomics — Tax Code
Subject: Finance and financial sector
Date: 2008-06-25 00:00:00

National Guard and Reservists Debt Relief Act of 2008 - (Sec. 2) Amends federal bankruptcy law to prohibit the bankruptcy court from dismissing or converting a chapter 7 liquidation case based upon means testing if the debtor, after September 11, 2001, was called to active duty or homeland defense activity while a member of a reserve component of the Armed Forces or a member of the National Guard, and such debtor is: (1) on active duty for a specified period; or (2) performing a homeland defense activity for a specified period. (Sec. 3) Directs the Comptroller General to study and report to Congress on whether and to what degree members of reserve components of the Armed Forces and the National Guard: (1) avail themselves of the benefits of this Act; (2) are debtors in federal bankruptcy cases substantially related to service that qualifies them for such benefits ; and (3) are debtors in federal bankruptcy cases materially related to such service. Requires such study to include the effects that the use of this Act by such members has upon: (1) the bankruptcy system; (2) creditors; and (3) the debt-incurrence practices of such members. Prescribes mandatory factors for consideration in such report.
Topic: Macroeconomics — Tax Code
Subject: Energy
Date: 2008-07-08 00:00:00

21st Century Energy Technology Deployment Act - Directs the Secretary of Energy, after consultation with the Energy Technology Advisory Council of the 21st Century Energy Deployment Corporation (both established by this Act), to develop and publish near-, medium-, and long-term goals for the deployment of clean energy technologies through the Corporation to establish or promote specified energy generation, transmission, and use and energy technology manufacturing capacities.Requires the Advisory Council to publish 5- and 10-year performance targets and to establish initial targets until those are published.Allows the Corporation to purchase, and make commitments to purchase, debt instruments associated with the deployment of clean energy technologies. Describes lending authorities of the Corporation. Allows the Corporation to issue securities for purchase by the Secretary of the Treasury.Requires annual reports to Congress on the technologies supported and on Corporation performance. Requires the Secretary to oversee Corporation operations and finances.Allows the Corporation to prepare a strategic plan to issue common stock to enable expansion of its operations and requires the plan to include consideration of Board restructuring alternatives.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2008-07-10 00:00:00

Fair Deal for Volunteers Act of 2008 - Amends the Internal Revenue Code to provide that the standard mileage rate for the tax deduction for use of a passenger automobile for charitable purposes (currently prescribed as 14 cents per mile) shall be determined by the Secretary of the Treasury.
Topic: Macroeconomics — Tax Code
Subject: Energy
Date: 2008-07-17 00:00:00

Drive America on Natural Gas Act of 2008 - Amends the Clean Air Act to: (1) redefine renewable fuel to include renewable and nonrenewable natural gas (NG), including compressed natural (CNG) and liquefied natural gas (LNG); and (2) require fuel credit program regulations to provide for generation of credits for renewable and nonrenewable natural gas. Amends the Internal Revenue Code to allow a new qualified alternative fuel motor vehicle credit for dual fueled automobiles. Directs the Secretary of Energy, in coordination with the Administrator of the Environmental Protection Agency (EPA), to conduct a program of natural gas vehicle research, development, and demonstration, with a particular emphasis on streamlining the certification of NG conversion systems. Directs the EPA Administrator to: (1) establish a demonstration program to assist states in facilitating the development of alternative-fueled vehicles; and (2) waive requirements for recertification of certain kits for the conversion of vehicles to NG.