zli12321/Bills huggingface dataset:
Defined Contribution Plan Fee Transparency Act of 2009 - Amends the Internal Revenue Code to impose a penalty tax on employers maintaining defined contribution pension plans for the failure of their plan administrators to provide plan participants or beneficiaries, prior to enrollment in a plan, with certain notices and disclosures pertaining to fees and charges, investment alternatives, and the manner for making elections among designated investment alternatives. Sets forth the types of information about investment alternatives required in a plan notice or disclosure. Requires plan administrators to provide plan participants and beneficiaries, after enrollment, with quarterly notices describing the investment alternatives and associated fees and charges in their plans. Imposes a penalty tax on a provider of services to a defined contribution plan for failure to provide a plan administrator with certain disclosures, including the total fees and expenses expected to be paid by a plan and any relationships of such service provider with third parties offering investment products. Directs the Secretary of the Treasury to issue final regulations on the written formats allowed for providing the notices and disclosures required by this Act.

Date: 2009-06-09
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Puerto Rico Work and Empowerment Act of 2009 - Amends the Internal Revenue Code to make residents of Puerto Rico eligible for the earned income tax credit.

Date: 2009-06-11
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Promoting Charitable Actions Act of 2009 - Amends the Internal Revenue Code to make permanent the special rule allowing a tax deduction for charitable contributions of food inventory by certain noncorporate taxpayers.

Date: 2009-06-11
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Neighborhood Investment Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of single-family residential rental property held by a taxpayer for two years or more and rented as a single dwelling unit on a regular basis during the five-year period prior to its sale. Limits the amount of such exclusion to $250,000.

Date: 2009-06-12
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Strengthening Medicaid for America's Children Act of 2009 - Amends title XIX (Medicaid) of the Social Security Act to require an increased federal medical assistance percentage (FMAP) for children in certain states that implement at least three of nine specified policies regarding medical assistance to children.

Date: 2009-06-12
Topic: Macroeconomics (Tax Code)
Subject: Health
Amends the Internal Revenue Code to terminate: (1) taxpayer checkoffs to finance presidential election campaigns; (2) the Presidential Election Campaign Fund (Fund) and related provisions; and (3) presidential primary matching payment accounts. Directs the Secretary of the Treasury to transfer any amounts remaining in the Fund after 2009 to the general fund of the Treasury.

Date: 2009-06-23
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Repaying the American Taxpayer Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require payment into the Treasury for reduction of the public debt of dividends on any share of preferred stock in a financial institution obtained and held by the Secretary of the Treasury in conjunction with financial assistance provided to the institution under EESA. Requires the statutory limitation on the public debt to be reduced by the aggregate amount of such revenues and proceeds paid into the Treasury. Directs the Special Inspector General to report to certain congressional committees on the disposition of such dividend payments.

Date: 2009-06-24
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Amends the Internal Revenue Code to direct the Secretary of the Treasury, upon receiving notice from a state or local government that a named individual owes a past-due legally enforceable tax obligation to a local goverment, to pay such tax debt from any federal tax refund due to such individual, after notifying such individual of the offset.

Date: 2009-06-25
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Transparent Markets Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on over-the-counter derivative transactions. Sets the rate of such tax at 0.25% of the fair market value of the underlying property with respect to, or the notional principal amount of, the derivative financial instrument involved in such transactions. Defines "derivative financial instrument" as any option, forward contract, short position, notional principal contract, credit default swap, or similar financial instrument in any share of corporate stock, interest in a widely held or publicly traded partnership or trust, debt instrument, commodity which is actively traded, foreign currency, or specified index.

Date: 2009-07-09
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Small Business Growth Act of 2009 - Amends the Internal Revenue Code to allow small business taxpayers with gross receipts of $5 million or less to elect to expense certain depreciable real property in the year such property is placed in service. Limits the amount of such expensing allowance to $125,000, adjusted for inflation after 2009.

Date: 2009-07-10
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Complete and Permanent Property Tax Deduction Act of 2009 - Amends the Internal Revenue Code to: (1) make permanent the standard tax deduction for real property taxes; and (2) repeal the dollar limitation on such deduction and the exclusion of foreign real property taxes.

Date: 2009-07-14
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions of food inventory by certain noncorporate taxpayers; (2) set forth rules for determining the basis and fair market value of contributed food; and (3) limit the reduction of such deduction in 2009 and 2010 to the amount by which the fair market value of the contributed food exceeds twice the basis of such food.

Date: 2009-07-15
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Provide a Return on Financial Investment for the Taxpayer Act of 2009 or the PROFIT Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to sell through a public auction any warrants associated with EESA assistance each time a financial institution makes a repayment of such assistance. Exempts from such requirement warrants associated with a repayment made by a financial institution that has received less than $250 million of such assistance.

Date: 2009-07-16
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Predictable, Equitable, and Transparent (PET) Project Act of 2009 - Amends the Congressional Budget Act of 1974 to limit to 1/2 of 1% the allocation solely to appropriation earmarks of the amount allocated to the Senate and House appropriations committees for the first fiscal year of a budget resolution. Entitles each Senator to 1/100th of the Senate earmark allocation and each Member of the House to 1/441 of the House earmark allocation. Makes it out of order in either chamber to consider any measure that would cause the level of total new budget authority or total outlays for appropriation earmarks, as adjusted, set forth in the applicable budget resolution to exceed or breach such limitations. Requires a Member or Senator requesting an appropriation earmark, within five legislative days after making such request, to: (1) submit the amount requested, the project name, and a project description of its subject matter to the appropriate Clerk for posting on the Clerk's website; and (2) insert in the Congressional Record a written statement that includes such information and certifies that neither the Member, Senator, or any family member has any financial interest in the earmark. Requires each Clerk's website to include an up-to-date, comprehensive, and searchable database comprising all such requests for the current fiscal year and the budget year. Makes a conforming amendment to Rule XXI (Restrictions on Certain Bills) of the Rules of the House

Date: 2009-07-16
Topic: Macroeconomics (Tax Code)
Subject: Congress
Discretionary Spending Control Act of 2009 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend through FY2014 the spending limits (spending caps) for the discretionary categories in new budget authority and outlays. Amends the Congressional Budget Act of 1974 to make it out of order in either chamber to consider: (1) legislation that increases the discretionary spending limits for any ensuing fiscal year after the budget year or would cause the discretionary spending limits for such year to be breached; (2) a budget resolution that would cause the discretionary spending limits for the budget year to be breached; or (3) any appropriation bill or joint resolution, amendment, or conference report that provides advance discretionary new budget authority that first becomes available for any fiscal year after the budget year at an amount for any program, project, or activity above the amount of appropriations for FY2007 for them. Amends the Gramm-Rudman-Hollings Act to require preview and final discretionary sequestration reports to set forth estimates for the current year and each subsequent year through FY2014 of the applicable discretionary spending limits for each category and an explanation of any adjustments in such limits. Amends the Act to extend Pay-As-You-Go (PAYGO) enforcement mechanisms through FY2014.

Date: 2009-07-22
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Amends the Internal Revenue Code to increase the income tax deduction for business meals and entertainment expenses from 50 to 75% of such expenses in calendar year 2009 and 80% in 2010 and thereafter.

Date: 2009-07-24
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Home Improvements Revitalize the Economy Act of 2009 or the HIRE Act of 2009 - Amends the Internal Revenue Code to allow: (1) an income-based tax deduction (up to $2,000) for the purchase of residential building products and furnishings (up to $4,000 for products and furnishings that meet specified environmental standards); (2) a tax credit for 20% (up to $500) of the purchase price of residential building products and furnishings; and (3) a general business tax credit for the purchase of residential building products and furnishings for resale to customers. Terminates such deduction and credits after 2011.

Date: 2009-07-29
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Generate Retirement Ownership Through Long-Term Holding Act of 2009 - Amends the Internal Revenue Code to provide that no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan.

Date: 2009-07-30
Topic: Macroeconomics (Tax Code)
Subject: Taxation
TARP Executive Disclosure Act - Requires each chief executive officer of any financial institution that receives federal assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA), or other specified federal law, to report to the Secretary of the Treasury specified financial information required under the Ethics in Government Act of 1978. Treats the Secretary as the designated agency ethics official for purposes of: (1) taking any action under the Ethics in Government Act of 1978 with respect to any person who fails to file such a report, or who files a false report; (2) acting as custodian of, and providing public access, to reports filed under this Act; and (3) reviewing such reports. Authorizes the Secretary, in addition to any other specified action against an individual who fails to comply with this reporting requirement, to terminate and require the repayment of the assistance provided to a financial institution which gave rise to the reporting requirement with respect to any of its senior executive officers. Requires the Board of Governors of the Federal Reserve System or the Federal Deposit Insurance Corporation (FDIC) to carry out the Secretary's determination with respect to any assistance to the financial institution the Board or the FDIC provided.

Date: 2009-07-31
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Directs the Secretary of the Treasury to enter into an agreement with a volunteer employees' beneficiary association (VEBA) established after enactment of this Act for the benefit of eligible separated employees of Delphi Corporation (and their dependents) in order to transfer amounts to the VEBA for purposes of establishing, or obtaining coverage under, a health care plan for the benefit of such employees (and dependents). Limits the application of this Act to employees with respect to whom the obligation of Delphi Corporation or General Motors Corporation to provide health care coverage has been discharged in a bankruptcy proceeding. Directs the Secretary to make available up to $3 billion in Troubled Asset Relief Program (TARP) funds, under the Emergency Economic Stabilization Act of 2008 (EESA), to provide health care coverage that is substantially the same as the coverage the obligation for which was so discharged.

Date: 2009-07-31
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Death Tax Repeal Permanency Act of 2009 - Makes permanent the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) that repeal the estate and generation skipping transfer taxes and that make reductions in the gift tax.

Date: 2009-07-31
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Short Sea Shipping Act of 2009 - Amends the Internal Revenue Code to exempt from the harbor maintenance tax commercial cargo (other than bulk cargo) loaded at: (1) a port in the U.S. mainland and unloaded at another such port after transport solely by coastal route or river or unloaded at a port in Canada located in the Great Lakes Saint Lawrence Seaway System; or (2) such a port in Canada and unloaded at a port in the U.S. mainland. Defines the "Great Lakes Saint Lawrence Seaway System" as the waterway between Duluth, Minnesota, and Nova Scotia, encompassing the five Great Lakes, their connecting channels, and the Saint Lawrence River.

Date: 2009-07-31
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to exempt from income taxation a newspaper corporation or organization if: (1) it publishes on a regular basis a newspaper for general circulation; (2) its newspaper contains local, national, and international news stories of interest to the general public and the distribution of such newspaper is necessary or valuable in achieving an educational purpose; and (3) the preparation of the material contained in such newspaper follows a methodology generally accepted as educational. Exempts the advertising income of a tax-exempt newspaper corporation or organization from taxation as unrelated business income and allows a charitable tax deduction for contributions to such newspaper corporation or organization.

Date: 2009-09-17
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Small Business Tax Equalization and Compliance Act of 2009 - Amends the Internal Revenue Code to extend the tax credit for social security taxes paid for employee cash tips to employers of cosmetologists. Requires employers of cosmetologists to report income and tips of their cosmetologist employees and to provide income and tip information to self-employed cosmetologists to whom they pay more than $600 in the taxable year. Imposes similar reporting requirements upon individuals who rent chairs to cosmetologists. Requires such employers to provide their cosmetologist employees and self-employed cosmetologists with information on the tax and tip reporting obligations of employees and self-employed individuals.

Date: 2009-10-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such tax credit through May 31, 2010; (2) extend through December 31, 2009, the date until which purchases of a principal residence may be treated as made on December 31, 2008, for tax purposes; and (3) extend through May 31, 2010, the waiver of recapture requirements for residences purchased after December 31, 2008. Rescinds certain discretionary appropriations made available by division A of the American Recovery and Reinvestment Act of 2009 to cover the cost of this Act.

Date: 2009-10-08
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such tax credit through May 31, 2010; (2) extend through December 31, 2009, the date until which purchases of a principal residence may be treated as made on December 31, 2008, for tax purposes; and (3) extend through May 31, 2010, the waiver of recapture requirements for residences purchased after December 31, 2008.

Date: 2009-10-08
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Homebuyer Tax Credit Fairness Act of 2009 - Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit to all purchasers of a principal residence (currently, limited to first-time purchasers); (2) increase the maximum amount of such credit to $15,000; (3) repeal the income-based phaseout of such credit; (4) waive recapture provisions of such credit for members of the uniformed services and the Foreign Service of the United States and for employees of the intelligence community on official extended duty service; and (5) extend such credit through November 30, 2010. Rescinds all unobligated balances of the discretionary appropriations made available by division A of the American Recovery and Reinvestment Act of 2009.

Date: 2009-10-08
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Wireless Freedom Act - Amends the Internal Revenue Code to: (1) repeal the limitation on depreciation for cellular telephones used for personal purposes; and (2) exempt employer-provided wireless devices from taxation as a de minimis fringe benefit.

Date: 2009-10-13
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Indigent Funeral Expense Reimbursement Act of 2009 - Amends the Internal Revenue Code to allow a funeral home proprietor a tax deduction for the unreimbursed expense of providing funeral or burial goods and services for a deceased indigent individual. Limits the annual amount of such deduction to $3,000.

Date: 2009-10-14
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Small Business and Family Farm Estate Tax Relief Act of 2009 - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009. Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act (Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) provide for an increase the estate tax exclusion to $5 million (eliminating the phase-in period); and (2) impose a maximum estate tax rate of 45%.

Date: 2009-10-15
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit and its waiver of recapture provisions through September 30, 2010; (2) extend through December 31, 2009, the election to treat, for tax purposes, a residence purchased in 2009 as having been purchased on December 31, 2008; (3) allow taxpayers to treat, for tax purposes, a residence purchased after December 31, 2009, and before October 1, 2010, as having been purchased on December 31, 2009; and (4) extend through December 31, 2009, the coordination of the first-time homebuyer tax credit for District of Columbia residents.

Date: 2009-10-15
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Estate Tax Relief Act of 2009 - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009. Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act (Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) allow annual increases in the estate tax exclusion amount until it reaches $5 million in 2019 and inflation adjustments to such amount after 2019; and (2) phase in annual reductions in the estate tax rate between 2009 and 2019 (45% to 35% in 2019 and thereafter) and eliminate the deduction for state estate, inheritance, legacy, or succession taxes over the same period.

Date: 2009-10-22
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Foreign Account Tax Compliance Act of 2009 - Amends the Internal Revenue Code to revise and add reporting and other requirements relating to income from assets held abroad, including by: (1) requiring foreign financial and nonfinancial institutions to withhold 30% of payments made to such institutions by U.S. individuals unless such institutions agree to disclose the identity of such individuals and report on their bank transactions; (2) denying a tax deduction for interest on non-registered bonds issued outside the United States; (3) requiring any individual who holds more than $50,000 in a depository or custodial account maintained by a foreign financial institution to report on such accounts; (4) imposing an enhanced tax penalty for underpayments attributable to undisclosed foreign financial assets; (5) extending the limitation period for assessment of underpayments with respect to assets held outside the United States; (6) requiring certain tax advisors who assist U.S. individuals in acquiring a direct or indirect interest in a foreign entity to file an information return disclosing the identity of the foreign entity and the individual investors; (7) requiring shareholders of a passive foreign investment company to file informational returns; (8) enhancing tax rules and penalties relating to foreign trusts with U.S. beneficiaries; and (9) requiring withholding of tax on dividend equivalent payments received by foreign individuals.

Date: 2009-10-27
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Heating Energy Assistance Tax Credit Act of 2009 - Amends the Internal Revenue Code to allow an individual taxpayer a refundable tax credit, up to $1,000 in a taxable year ($2,000 for a married couple filing a joint tax return), for the cost of heating such taxpayer's principal place of abode. Reduces the amount of such credit for taxpayers whose adjusted gross income exceeds $75,000 ($150,000 for married couples filing joint tax returns).

Date: 2009-10-28
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to allow a 5-year recovery period for depreciation purposes for nonresidential real property and a 10-year recovery period for qualified leasehold property placed in service after December 31, 2009, and before January 1, 2012.

Date: 2009-11-03
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to allow a five-year carryback of net operating losses, including the operating losses of life insurance companies, incurred in 2008 and 2009. Denies such extended loss carryover period to: (1) taxpayers in whom the federal government acquires an equity interest under the Emergency Economic Stabilization Act of 2008; (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (3) members of certain affiliated groups. Directs the Secretary of the Treasury to make transfers to the general fund to cover reductions in revenues resulting from this Act.

Date: 2009-11-03
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Family Farm and Small Business Tax Relief Act of 2009 - Extends the estate and gift tax rates in effect in 2009 by eliminating the general terminating date (i.e., December 31, 2010) in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to such rates. Amends the Internal Revenue Code to: (1) establish a permanent $3.5 million estate tax exclusion (adjusted for inflation) and a maximum estate and gift tax rate of 45% after 2010; (2) restore after 2010 the estate tax deduction for family-owned business interests and increase the amount of such deduction to $8 million (adjusted annually for inflation); and (3) exclude from the gross estate of a decedent the value of farmland used as a farm for farming purposes.

Date: 2009-11-04
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to allow a deduction from the gross estate of a decedent for capital losses which the decedent was eligibile to carry over to subsequent taxable years at the time of the decedent's death.

Date: 2009-11-05
Topic: Macroeconomics (Tax Code)
Subject: Taxation
S Corporation Inventory Contribution Act of 2009 - Amends the Internal Revenue Code to extend the tax deduction for charitable contributions of inventory to S corporations. Limits the amount of such deduction for corporations other than C corporations to 10% of aggregate net income.

Date: 2009-11-16
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) reduce between 2010 and 2015 the excise tax rate on the net investment income of tax-exempt private foundations from 2 to 1.32%; and (2) suspend between 2010 and 2015 the 1% reduction in such tax rate for private foundations that meet certain distribution requirements. Directs the Secretary of the Treasury to conduct and submit to Congress by December 31, 2013, a study which examines the effect of the tax rate changes of this Act on the level of grantmaking by private foundations.

Date: 2009-11-17
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Jumpstarting Our Business Sector Act of 2009 - Amends the Internal Revenue Code to: (1) exclude from gross income in 2009 and 2010 long-term capital gains and dividend income; (2) reduce for a two year period the employment and self-employment tax rates; (3) reduce corporate income tax rates in 2009 and 2010; and (4) reduce the income tax rate for taxpayers in the lowest income tax bracket in 2009 and 2010. Rescinds all unobligated balances of the discretionary appropriations made available by division A of the American Recovery and Reinvestment Act of 2009 (stimulus funds).

Date: 2009-11-18
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Tax Technical Corrections Act of 2009 - Makes technical and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the American Recovery and Reinvestment Tax Act of 2009; (2) the Energy Improvement and Extension Act of 2008; (3) the Tax Extenders and Alternative Minimum Tax Relief Act of 2008; (4) the Housing Assistance Tax Act of 2008; (5) the Heroes Earnings Assistance and Relief Tax Act of 2008; (6) the Economic Stimulus Act of 2008; (7) the Tax Technical Corrections Act of 2007; and (8) the Energy Tax Incentives Act of 2005.

Date: 2009-12-02
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Stop Any TARP Extension Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to: (1) terminate on December 31, 2009 (as under current law), the authority of the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP); and (2) repeal the Secretary's authority to extend the TARP program through October 3, 2010, upon submission of a written certification to Congress. Revises the requirement that revenues of and proceeds from the sale of troubled assets purchased under TARP, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under TARP, be paid into the general fund of the Treasury for reduction of the public debt. Establishes the Public Debt Reduction Payment Account. Directs the Secretary to deposit into the Account the following: (1) all remaining EESA funds; (2) amounts received for repayment of financial assistance, as well as payment of interest by a recipient of such assistance under TARP or any related program, including the Capital Purchase Program; and (3) revenues and proceeds from the sale of troubled assets that were purchased under EESA, or from the sale, exercise, or surrender of warrants or senior debt instruments, as under current law. Instructs the Secretary to: (1) use amounts in the Account to pay at maturity (or to redeem or buy before maturity) any obligation of the government held by the public and included in the public debt; and (2) deposit into the Account specified funds received by the Secretary pursuant to EESA. Lowers the statutory limit on the public debt by the aggregate amounts deposited into the Public Debt Reduction Payment Account. Prohibits the receipts and disbursements of the Account from being counted as new budget authority, outlays, receipts, or deficit or surplus for presidential or congressional budget purposes, and requires their exclusion from any official budget statements.

Date: 2009-12-02
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Unemployment Compensation Extension Act of 2010 - (Sec. 2) Amends the Supplemental Appropriations Act, 2008 with respect to the state-established individual emergency unemployment compensation account (EUCA). Extends the final date for entering a federal-state agreement under the Emergency Unemployment Compensation (EUC) program through November 30, 2010. Postpones the termination of the program until April 30, 2011. Amends the Assistance for Unemployed Workers and Struggling Families Act to extend until December 1, 2010, requirements that federal payments to states cover 100% of EUC. Amends the Unemployment Compensation Extension Act of 2008 to exempt weeks of unemployment between enactment of this Act and April 30, 2011, from the prohibition in the Federal-State Extended Unemployment Compensation Act of 1970 against federal matching payments to a state for the first week in an individual's eligibility period for which extended compensation or sharable regular compensation is paid if the state law provides for payment of regular compensation to an individual for his or her first week of otherwise compensable unemployment. (Thus allows temporary federal matching for the first week of extended benefits for states with no waiting period.) Amends the Supplemental Appropriations Act, 2008 to apply to claims for EUC payments the terms and conditions of state unemployment compensation law relating to availability of work, active search for work, and refusal to accept work. (Sec. 3) Requires a state to determine whether an individual is to be paid EUC or regular compensation for a week of unemployment by using one of four specified methods if: (1) an individual has been determined to be entitled to EUC for a benefit year; (2) that benefit year has expired; and (3) such individual has remaining entitlement to EUC for that benefit year, and would qualify for a new benefit year in which the weekly benefit amount of regular compensation is at least either $100 or 25% less than the individual's weekly benefit amount in such benefit year. (Sec. 4) Declares that federal-state agreements under which the state agency makes EUC payments to certain individuals shall not apply (or shall cease to apply) with respect to a state whose method for computing regular compensation under such state's law has been modified in a manner that reduces the average weekly benefit amount of regular compensation payable on or after June 2, 2010, to less than the average weekly benefit amount of regular compensation otherwise payable under the state law as in effect on such date. (Thus prohibits states from reducing regular compensation in order to be eligible for federal funds under the EUC program.) (Sec. 5) Designates Sec. 2 and Sec. 3 as an emergency in the House of Representatives pursuant to the Statutory Pay-As-You-Go Act of 2010 and in the Senate as an emergency requirement.

Date: 2009-12-07
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Common Sense Tax Relief Act of 2009 - Amends the Internal Revenue Code to make permanent the tax deductions for state and local sales taxes, for certain expenses of elementary and secondary school teachers, and for tuition and related expenses. Exempts certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 relating to the child tax credit, marriage penalty relief, repeal of the estate tax, and the tax deduction for higher education expenses from the general terminating date of that Act (i.e., December 31, 2010). Makes provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 reducing tax rates on capital gains and dividend income permanent.

Date: 2009-12-10
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Mechanical Insulation Installation Incentive Act of 2009 - Amends the Internal Revenue Code to allow a tax deduction for a specified percentage of the cost, including labor costs, of installing and maintaining mechanical insulation property. Defines "mechanical insulation property" as insulation materials, facings, and accessory products placed in service in connection with a mechanical system which is utilized for thermal, acoustical, and personnel safety requirements for mechanical piping and equipment, hot and cold applications, and heating, venting and air conditioning applications which can be used in a variety of facilities.

Date: 2009-12-11
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Deficit Reduction Check-Off Act - Amends the Internal Revenue Code to allow individual taxpayers to designate on their tax returns an amount (initially between $1 and $10, with annual increases of $1 for each taxable year after 2011) for reducing the federal deficit. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require a sequestration to reduce the federal deficit within 15 days after Congress adjourns to end a session by directing the Office of Management and Budget (OMB) to apply an across-the-board reduction in federal spending equal to 10 times the amount raised by the voluntary tax checkoff under this Act. Exempts from such spending reduction social security and railroad retirement benefits, Medicare benefits, judicial salaries, and veterans benefits.

Date: 2009-12-15
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Telework Tax Incentive Act - Amends the Internal Revenue Code to allow an employer or an employee a tax credit, up to $1,000 per year, for teleworking expenses incurred by or on behalf of a teleworking employee under an arrangement whereby such employee teleworks not less than 75 days per year.

Date: 2009-12-16
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) increase the tax deduction for charitable contributions of qualified wild game meat by the processing fees paid with respect to such contributions; and (2) exclude from the gross income of meat processors processing fees paid by a charitable organization for the processing of donated wild game meat. Defines "qualified wild game meat" as the meat of any animal typically used for human consumption if: (1) such animal is killed in the wild by the individual making the charitable contribution; and (2) the meat is apparently wholesome and processed in accordance with applicable laws.

Date: 2009-12-16
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

Date: 2009-12-19
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Responsible Banking Act of 2010 - Amends the Internal Revenue Code to impose a 75% tax for the next five years on any bonus for services performed for the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), any financial institution, insurance company, hedge fund, financial adviser, or broker or dealer in securities, and any lending or finance business.

Date: 2010-01-12
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose a tax on current or former employees of recipients of financial assistance under the Trouble Asset Relief Program (TARP) for 50% of any bonus exceeding $50,000 paid to them during 2010; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

Date: 2010-01-12
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Pay It Back Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to revise the limitation on the authority of the Secretary of the Treasury to purchase troubled assets under the Troubled Asset Relief Program (TARP) to $700 billion outstanding at any one time. Changes the maximum authority to $700 billion, in the aggregate, or such higher amount, in the aggregate, as has been obligated or expended under TARP as of the enactment of this Act. Requires the Secretary to report to Congress every six months on transfer to the Treasury's General Fund for reduction of the public debt of revenues of, and proceeds from the sale of troubled assets purchased under TARP, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under TARP. Amends the Federal National Mortgage Association Charter Act, the Federal Home Loan Mortgage Corporation Act, and the Federal Home Loan Bank Act to require the Secretary to deposit in the Treasury solely for debt reduction any amounts received by the Secretary for the sale of any obligation or security acquired from the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or a Federal Home Loan Bank for secondary market operations. Prohibits the use of any such amounts as an offset for other spending increases or revenue reductions. Requires deposit in the Treasury solely for debt reduction of any periodic commitment fee or any other fee or assessment paid to the Secretary by Fannie Mae or Freddie Mac as a result of any preferred stock purchase agreement, mortgage-backed security purchase program, or any other program or activity under the Housing and Economic Recovery Act of 2008. Requires the Director of the Federal Housing Finance Agency (FHFA) to report to Congress on FHFA plans to continue to support and maintain the nation's vital housing industry, while at the same time guaranteeing that the American taxpayer will not suffer unnecessary losses. Amends the American Recovery and Reinvestment Act of 2009 (ARRA) to require: (1) rescission of any ARRA (stimulus) funds offered to but not accepted by the governor or legislature of a state; and (2) their deposit in the Treasury solely for debt reduction. Requires the same treatment for any funds withdrawn or recaptured by an executive agency head which have not been obligated by a state to a local government or for a specific project. Rescinds for deposit in the Treasury solely for debt reduction specified discretionary appropriations that have not been obligated as of December 31, 2012. Lowers the statutory limit on the public debt by the amounts the Secretary receives under this Act for deposit in the Treasury solely for debt reduction.

Date: 2010-01-20
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Amends the Internal Revenue Code to treat securities and nonqualified preferred stock paid to a parent corporation by a subsidiary in a corporate reorganization as cash payments, thus subjecting the gain attributable to such payments to tax.

Date: 2010-01-21
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Real Estate Revitalization Act of 2010 - Amends the Internal Revenue Code, with respect to foreign investment in United States real property, to: (1) redefine "United States real property interest" to eliminate exclusions relating to interests in holding corporations; (2) treat distributions of real property interests by a real estate investment trusts (REIT) or a regulated investment company (RIC) as ordinary dividends; and (3) repeal the election allowed to foreign corporations to be treated as a domestic corporation for purposes of investment in a United States real property interest.

Date: 2010-01-27
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Cash Back Reward Act of 2010 - Amends the Internal Revenue Code to allow a tax deduction for interest paid on an unsecured credit card in 2010. Limits the amount of such deduction to $5,000 ($10,000 for married couples filing a joint tax return).

Date: 2010-02-02
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Small Business Job Creation Tax Act of 2010 - Amends the Internal Revenue Code to allow employers a credit against payroll tax liability for a payroll increase in a quarter over a corresponding quarter in the previous calendar year. Sets the amount of such credit at 20% of such increase for employers that employ fewer than 100 employees and 15% for employers that employ 100 or more employees in any quarter. Limits the total credit amount available for all quarters to $500,000. Directs the Commissioner of Internal Revenue to: (1) notify all employers required to withhold employment taxes of the enactment and applicability of this Act; and (2) report to Congress on enforcement measures taken to prevent and penalize fraud related to the payroll credit allowed by this Act.

Date: 2010-02-03
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Cap Spending to Reduce Borrowing Act - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives and in the Senate to consider any bill, joint resolution, amendment, or conference report increasing the statutory limit on the public debt unless such measure includes limits on the total level of discretionary and direct spending for each of 10 consecutive fiscal years beginning with the first fiscal year in which the increase would occur. Waives such prohibition for any measure increasing the statutory limit on the public debt if statutory limits are in place on the total level of such spending for each of 10 consecutive fiscal years beginning with the first fiscal year in which such increase would occur. Repeals Rule XXVIII (Statutory Limit on Public Debt) of the Rules of the House (known as the "Gephardt Rule") which provides for mandatory adjustment of the statutory limit on the public debt to conform to a budget resolution.

Date: 2010-02-03
Topic: Macroeconomics (Tax Code)
Subject: Congress
Amends the Internal Revenue Code to eliminate the drawback fee on the manufacture or production of distilled spirits used in non-beverage products (i.e., medicines, medicinal preparations, food products, flavors, flavoring extracts, or perfume, which are unfit for beverage purposes).

Date: 2010-02-04
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument. Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. Provides for expedited consideration by Congress of Task Force recommendations. Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.

Date: 2010-02-23
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Small Business Expansion and Job Creation Act of 2010 - Amends the Internal Revenue Code to extend through 2010: (1) the increased ($250,000) expensing allowance for depreciable business assets; (2) the additional 50% depreciation allowance for certain types of investment property acquired in 2010; and (3) the election to accelerate the tax credits for the alternative minimum tax and research expenditures in lieu of bonus depreciation.

Date: 2010-02-23
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) increase to $250,000 the expensing allowance for depreciable business assets in 2010 and 2011; and (2) extend through 2011 related provisions, including increased expensing for certain computer software.

Date: 2010-02-23
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Jobs Momentum Act of 2010 - Allows a reduction in 2010 and 2011 of an employer's payroll taxes by a specified percentage of the amount by which such employer increases aggregate payroll over the preceding calendar year.

Date: 2010-02-24
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to exclude from gross income government payments to a taxpayer for the replacement of, or remediation relating to, hazardous or defective drywall installed in the taxpayer's principal residence after September 1, 2006, and prior to the enactment of this Act.

Date: 2010-02-25
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Citizens' Choice Act of 2010 - Amends the Internal Revenue Code to allow a tax credit up to $1,000 for cash contributions to charitable organizations.

Date: 2010-02-25
Topic: Macroeconomics (Tax Code)
Subject: Taxation