zli12321/Bills huggingface dataset:
Financial Institution Bankruptcy Act of 2014 - (Sec. 2) Amends federal bankruptcy law with respect to a "covered financial corporation" incorporated or organized under any federal or state law (other than a stockbroker, a commodity broker, or a domestic or foreign insurance company or financial institution meeting certain criteria) that is: (1) a bank holding company; or (2) a corporation that exists for the primary purpose of owning, controlling, and financing its subsidiaries, has total consolidated assets of $50 billion or greater, and whose annual gross revenues or consolidated assets meet specified tests.

Allows a case under subchapter V (established by this Act) to be converted to chapter 7 (Liquidation) if certain conditions are met, including: (1) a court-ordered appointment of a special trustee, and 2) the court finds that conversion is in the best interest of creditors and the estate.

(Sec. 3) Adds "Subchapter V - Liquidation, Reorganization, or Recapitalization of a Covered Financial Corporation," setting forth requirements and prohibitions regarding: (1) commencement of a case concerning a covered financial corporation; (2) a special trustee and bridge company; (3) special transfer of the property of the estate in bankruptcy; (4) treatment of qualified financial contracts and affiliate contracts; (5) licenses, permits, and registrations; (6) exemption from securities laws; and (7) inapplicability of certain avoiding powers.

Authorizes the Board of Governors of the Federal Reserve, the Securities Exchange Commission (SEC), the Office of the Comptroller of the Currency of the Department of the Treasury, and the Federal Deposit Insurance Corporation (FDIC) to raise and be heard on any issue in any case or proceeding under Subchapter V.

(Sec. 4) Amends the federal judicial code to require the Chief Justice of the United States to designate: (1) at least three appellate judges in at least four circuits to serve on an appellate panel available to hear appeals in a bankruptcy case concerning a covered financial corporation, and (2) a panel of at least 10 bankruptcy judges to be available to hear a case under subchapter V.

Prescribes requirements for the assignment of bankruptcy judges to subchapter V cases.

Date: 2014-09-09
Topic: Domestic Commerce (Corporate Management)
Subject: Finance and financial sector
Corporate Fair Share Tax Act - Amends the Internal Revenue Code to limit the tax deduction of the interest expense of a U.S. corporation that is a member of a financial reporting group (a group that prepares consolidated financial statements according to accepted accounting principles or international financial reporting standards) to: (1) the amount of interest on indebtedness of the corporation includible in the corporation's gross income for the taxable year plus its proportionate share of the group's net interest expense in the taxable year; or (2) 10% of the corporation's adjusted taxable income, if the corporation fails to substantiate its proportionate share of interest expense. Exempts a corporation that is predominantly engaged in the active conduct of a banking, financing, or similar business or that has less than $5 million of net interest expense for the taxable year.

Date: 2014-09-10
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
(This measure has not been amended since it was reported to the Senate on October 31, 2013. The summary of that version is repeated here.)

Criminal Antitrust Anti-Retaliation Act of 2013 - Amends the Antitrust Criminal Penalty Enhancement and Reform Act of 2004 to prohibit an employer from discharging, demoting, suspending, harassing, or in any other manner discriminating against an employee, contractor, subcontractor, or agent of such employer who: (1) provided information to the employer or the federal government concerning a violation of antitrust law or of another criminal law committed in conjunction with a potential violation of antitrust law or in conjunction with an antitrust investigation by the Department of Justice (DOJ); or (2) filed, testified, participated, or otherwise assisted in an investigation relating to such a violation. Excludes from such protection any individual who planned and initiated such a violation or an obstruction to the investigation of such a violation.

Authorizes an individual who alleges discharge or other discrimination by an employer in violation of such prohibition to seek relief: (1) by filing a complaint with the Secretary of Labor; or (2) if the Secretary has not issued a final decision within 180 days of such filing, by bringing an action at law or equity in the appropriate U.S. district court. Entitles an individual who prevails in any such action to all relief necessary to make such individual whole, including reinstatement with the same status, back pay plus interest, and compensation for special damages sustained.

Date: 2013-01-22
Topic: Domestic Commerce (Corporate Management)
Subject: Commerce
Anti-Trust Freedom Act of 2013 - Provides that the Sherman Act, the Clayton Act, and provisions of the Federal Trade Commission Act prohibiting unfair methods of competition and unfair or deceptive acts or practices in or affecting commerce shall not be construed to prohibit, ban, or otherwise extend to any voluntary economic coordination, cooperation, agreement, or other association, compact, contract, or covenant entered into by or between any individual or group of individuals.

Date: 2013-05-21
Topic: Domestic Commerce (Corporate Management)
Subject: Commerce
Stop Corporate Inversions Act of 2014 - Amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that during the period beginning after May 8, 2014, and before May 9, 2016, a foreign corporation that acquires the properties of a U.S. corporation or partnership shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.

Date: 2014-05-20
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Worker Ownership, Readiness, and Knowledge Act or the WORK Act - Directs the Secretary of Labor, acting through the Assistant Secretary for Employment and Training, to establish within the Employment and Training Administration an Employee Ownership and Participation Initiative to promote employee ownership and employee participation in business decisionmaking.

Requires the Secretary to establish a program, which may include grants for outreach, technical assistance, and training, to encourage new and existing state programs designed to foster employee ownership and employee participation in business decisionmaking throughout the United States.

Requires the Secretary to report to Congress on progress related to employee ownership and participation in U.S. businesses.

Date: 2014-06-02
Topic: Domestic Commerce (Corporate Management)
Subject: Labor and employment
Corporate Inverters Earnings Stripping Reform Act of 2014 - Amends the Internal Revenue Code to impose limitations on the tax deduction for interest paid by corporations which are designated as applicable entities (i.e., members of an expanded affiliated group which includes a surrogate foreign corporation which is not treated as a domestic corporation). Prohibits such an entity from claiming a tax deduction for interest that exceeds 25% of its adjusted taxable income and from carrying forward interest which is paid or accrued during the first year in which such entity becomes an applicable entity.

Requires an applicable entity to file an annual application for an approval agreement (i.e., a prefiling, advance pricing, or other agreement involving a related-party transaction) with the Internal Revenue Service (IRS) during the 10-year period after it becomes an applicable entity.

Date: 2014-09-10
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Pay What You Owe Before You Go Act - Amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.

Date: 2014-09-18
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Partnership Auditing Fairness Act - Amends the Internal Revenue Code to revise rules for audits of large for-profit partnerships (partnerships with more than 100 partners). Repeals existing audit rules under Chapter 1 and Chapter 63 of the Internal Revenue Code. Allows partnerships with 100 or fewer partners to elect not to be covered by this provisions of this Act.

Provides that items of partnership income, gain, loss, deductions, or credits shall be determined at the partnership level, instead of for each individual partner. Makes adjustments to partnership taxes applicable in the tax year in which such adjustments are finalized.

Sets forth new procedures for notifying a partnership of an audit or an adjustment of partnership taxes. Requires partnerships to participate in an audit through a designated partnership representative.

Allows partnerships to include audit adjustments on tax returns for the year in which such adjustments are finalized. Provides for the collection of additional taxes resulting from an audit and tax penalties from the partnership, instead of from individual partners. 

Permits partnerships to request judicial review of audit adjustments by filing a petition with the Tax Court, a district court, or the Court of Claims. Grants such courts jurisdiction to determine all items of income, gain, loss, deduction, or credit of the partnership. Establishes a three-year limitation period for making adjustments to partnership tax returns.

Date: 2014-12-16
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Preventing Termination of Utility Services in Bankruptcy Act of 2015

Amends federal bankruptcy law, with respect to the prohibition against disruption of utility services to a debtor, to declare that an individual debtor may not be required to furnish assurance of payment if he or she pays, within 20 days after the date of the order for relief, those debts owed to a utility for service during that period, and afterward also pays when due debts owed for service during the pendency of the case in bankruptcy.

Date: 2015-01-06
Topic: Domestic Commerce (Corporate Management)
Subject: Finance and financial sector
Stop Corporate Inversions Act of 2015

Amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.

 

Date: 2015-01-20
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Competitive Health Insurance Reform Act of 2015

Amends the McCarran-Ferguson Act to declare that nothing in that Act modifies, impairs, or supersedes the operation of antitrust laws with respect to the business of health insurance, including the business of dental insurance.

Applies prohibitions against using unfair methods of competition to the business of health insurance without regard to whether the business is for profit.

Date: 2015-01-22
Topic: Domestic Commerce (Corporate Management)
Subject: Health
Permanent S Corporation Built-in Gain Recognition Period Act of 2015

(Sec. 2) Amends the Internal Revenue Code to reduce from 10 years to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.

Date: 2015-01-30
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Permanent S Corporation Charitable Contribution Act of 2015

(Sec. 2) This bill amends the Internal Revenue Code to make permanent the tax rule that reduces the basis of the stock of an S corporation shareholder by the adjusted basis (rather than fair market value) of any charitable contribution made by the S corporation.

Date: 2015-01-30
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Investor Choice Act of 2015

Amends the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to revise the authority of the Securities and Exchange Commission to prohibit, or impose conditions or limitations on the use of, agreements that require customers or clients of any broker, dealer, or municipal securities dealer to arbitrate any future dispute between them arising under the federal securities laws, related rules and regulations, or the rules of a self-regulatory organization if it finds that prohibition, imposition of conditions, or limitations are in the public interest and for the protection of investors.

Declares unlawful for a broker, dealer, funding portal, or municipal securities dealer (entities) to enter into, modify, or extend an agreement with customers or clients governing a future dispute between the parties that would mandate arbitration.

Declares likewise unlawful acts by such entities that would restrict, limit, or condition the ability of a customer or client to: (1) select or designate a forum for dispute resolution, or (2) pursue a claim relating to a dispute in an individual or representative capacity or on a class action or consolidated basis.

Date: 2015-02-26
Topic: Domestic Commerce (Corporate Management)
Subject: Finance and financial sector
Income Equity Act of 2015

Amends the Internal Revenue Code to: (1) deny employers a tax deduction for payments of excessive compensation to any full-time employee (i.e., compensation for services exceeding the greater of 25 times the median compensation paid to full-time employees during such taxable year or $500,000); and (2) require such employers to file a report with the Secretary of the Treasury on excessive compensation (as defined by this Act) paid to their employees. Defines "compensation" to include wages, salary, deferred compensation, retirement contributions, options, bonuses, property, and any other form of compensation that the Secretary determines is appropriate.

Date: 2015-03-04
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Federal Employees Sustainable Investment Act 

 Establishes the Corporate Responsibility Stock Index Fund as an investment option under the Thrift Savings Fund. Directs the Federal Retirement Thrift Investment Board to select a minimum of one index for such Fund comprised of stocks that have been analyzed and selected using basic criteria, including corporate governance, environmental practices, workplace relations and benefits, product safety and impact, international operations and human rights, involvement with repressive regimes, and community relations.

Date: 2015-04-29
Topic: Domestic Commerce (Corporate Management)
Subject: Government operations and politics
Health Insurance Industry Fair Competition Act

Amends the McCarran-Ferguson Act to declare that nothing in that Act modifies, impairs, or supersedes the operation of antitrust laws with respect to the business of health insurance.

Applies prohibitions against using unfair methods of competition to the business of health insurance without regard to whether the business is for profit.

Date: 2015-05-20
Topic: Domestic Commerce (Corporate Management)
Subject: Health
(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Standard Merger and Acquisition Reviews Through Equal Rules Act of 2015

(Sec. 2) This bill amends the Clayton Act with respect to notice to a state by the Department of Justice (DOJ) about federal actions brought for violations of antitrust laws. Currently DOJ must:

 notify a state attorney general about an antitrust action regarding which DOJ has reason to believe that the state attorney general would also be entitled to bring an action based substantially on the same alleged violation of the antitrust laws; and upon request make available to the state attorney general, to the extent permitted by law, any investigative files or other materials which are or may be relevant or material to the actual or potential cause of action. The Federal Trade Commission (FTC) shall exercise the same authority and procedures as DOJ under the Clayton Act if the FTC has brought an action under Section 7 of the same Act with respect to the prohibition against acquisition by one corporation of the stock of another (merger) that may substantially lessen competition or tend to create a monopoly.

Also in cases brought by the FTC that result in final judgments against a defendant, those judgments shall be prima facie evidence of antitrust violations under substantially similar facts in actions brought by other parties.

The statute of limitations shall be tolled during a proceeding brought by the FTC under Section 7, and for one year thereafter, for any private and state rights of action based on the conduct in question during the proceeding.

The FTC shall enforce compliance with section 7 in the same manner as DOJ in acting to prevent or restrain antitrust violations. The FTC shall enforce a consent order, however, in the same manner it does already. (Sec. 3) The Federal Trade Commission Act (FTCA) is amended to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from ordinary FTC proceedings, except in cases where the FTC approves an agreement with the parties to the transaction that contains a consent order.

U.S. district courts shall have jurisdiction to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that may result in an unfair method of competition.

Date: 2015-06-12
Topic: Domestic Commerce (Corporate Management)
Subject: Commerce
This bill amends the Internal Revenue Code to extend the period in which a corporation may carryover excess contributions for purposes of the tax deduction for charitable contributions from 5 to 20 succeeding taxable years.

Date: 2015-11-16
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Main Street Fairness Act 

This bill amends the Internal Revenue Code to prevent qualified business income attributed to individuals from being taxed at a higher rate than corporate income.

(Under current law, business income attributed to individuals is taxed using individual income tax rates rather than the corporate tax rate.)

Qualified business income is all items of income, deduction, loss, or credit properly attributable to the taxpayer from the active conduct of a trade or business, including:

 a partnership in which the taxpayer holds a capital or profits interest; an S corporation in which the taxpayer is a shareholder; a sole proprietorship or an entity otherwise disregarded as separate from its sole owner, in which the taxpayer is the sole owner; and a trust or estate in which the taxpayer is a beneficiary. Qualified business income does not include any item taken into account in determining net capital gain or the financial services income of partnerships.

Date: 2016-04-27
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Corporate EXpatriates and Inverters Tax Fairness Act or the Corporate EXIT Fairness Act 

This bill amends the Internal Revenue Code to set forth rules governing corporate inversions (i.e., the practice of relocating a domestic corporation's legal domicile to a lower-tax nation while retaining its business activities in the higher-tax country of origin) and corporate expatriations. Specifically, the bill requires payment of tax on the deferred overseas profits of U.S. multinational corporations or partnerships before they reincorporate or organize in a foreign country. Additionally, any stock of a controlled foreign corporation in connection with a corporate expatriation would be treated as sold for its fair market value as of the date of expatriation and be subject to U.S. taxation.

The bill expands the definitions of "corporate inversion" and "corporate expatriation" and revises rules relating to the taxation of inverted corporations. A foreign corporation that acquires the assets of a U.S. corporation or partnership after April 29, 2016, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) the expanded affiliated group which includes the foreign corporation does not have substantial business activities in the foreign country in which the corporation is created or organized, when compared to the total business activities of such expanded affiliated group; and (2) more than 50% of the foreign corporation is held by former shareholders or partners of the domestic corporation or partnership, or the management or control of the expanded affiliated group occurs primarily within the United States, and such expanded affiliated group has significant domestic business activities.

Date: 2016-04-29
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Protecting the U.S. Corporate Tax Base Act of 2016 

This bill amends the Internal Revenue Code to revise the rules for taxing the earnings and determining the stock ownership of certain controlled foreign corporations (CFCs).

The bill provides that, in the case of certain CFCs, subpart F income (income of a CFC earned outside the United States that is not tax deferred) includes a U.S. shareholder's pro rata share of any increase in the CFC's investment of earnings in certain foreign property.

The bill also revises the rules for determining stock ownership to prohibit a CFC from transferring stock to a foreign affiliate to reduce the portion of stock owned by U.S. shareholders below the level required to be considered a CFC.

Date: 2016-05-17
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Preserving Investment in Needy Neighborhoods Act

This bill amends the Internal Revenue Code to: (1) exclude from gross income contributions to the capital of a partnership, and (2) set forth rules for determining the basis of property and money contributed to the capital of a partnership.

Date: 2016-06-21
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
S Corporation Modernization Act of 2016 

This bill amends the Internal Revenue Code, with respect to the tax treatment of S corporations, to:

 allow a nonresident alien to be a qualifying beneficiary of an electing small business trust (ESBT), which is a type of trust that is permitted to hold shares in an S corporation; allow S corporations to increase passive investment income from 25% to 60% without incurring additional taxes; eliminate a provision terminating the S corporation status of corporations with excessive passive income for three consecutive years; allow any S corporation bank to have individual retirement account shareholders; allow ESBTs to claim expanded tax deductions for charitable contributions; and allow an adjustment to the basis of an S corporation's assets upon the death of a shareholder, in the form of a 15-year amortization deduction.

Date: 2016-07-13
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
CEO Accountability and Responsibility Act

 This bill amends the Internal Revenue Code to: (1) increase the corporate income tax rate for publicly traded corporations that pay their chief executive officers or highest paid employees more than 100 times the median compensation of all their U.S. employees, and (2) decrease the rate for publicly traded corporations that pay their chief executive officers or highest paid employees less than 50 times the median compensation of all their U.S. employees.

Date: 2016-09-28
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
PCAOB Enforcement Transparency Act of 2016

 This bill amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

Date: 2016-09-28
Topic: Domestic Commerce (Corporate Management)
Subject: Finance and financial sector
Government Settlement Transparency and Reform Act 

 Amends the Internal Revenue Code to expand provisions relating to the nondeductibility of fines and penalties to prohibit a tax deduction for any amount paid or incurred to any governmental entity relating to the violation of any law or the investigation or inquiry into a potential violation of law. Exempts from such prohibition: (1) restitution or amounts paid to come into compliance with any law that was violated or otherwise involved in the investigation or inquiry, (2) amounts paid pursuant to a court order in a suit in which the governmental entity was not a party, and (3) amounts paid or incurred as taxes due. Imposes new reporting requirements on governmental entities relating to amounts paid as fines or for restitution.

Date: 2015-02-09
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
PCAOB Enforcement Transparency Act of 2015

 Amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

Date: 2015-04-23
Topic: Domestic Commerce (Corporate Management)
Subject: Finance and financial sector
(This measure has not been amended since it was reported to the Senate on July 16, 2015. The summary of that version is repeated here.)

Criminal Antitrust Anti-Retaliation Act of 2015

(Sec. 2) This bill amends the Antitrust Criminal Penalty Enhancement and Reform Act of 2004 to prohibit an employer from discharging, demoting, suspending, harassing, or in any other manner discriminating against an employee, contractor, subcontractor, or agent of such employer (covered individual) who by a lawful act: (1) provided information to the employer or a federal regulatory or law enforcement agency, or any Member of Congress or congressional committee concerning a violation of antitrust law or of another criminal law committed in conjunction with a potential violation of antitrust law or in conjunction with an antitrust investigation by the Department of Justice; or (2) filed or caused to be filed, testified, participated, or otherwise assisted in a federal investigation or proceeding relating to such a violation. This protection does not extend, however, to any covered individual who planned and initiated such a violation or an obstruction to its investigation.

A violation with respect to the antitrust laws shall not be construed to include a civil violation of any law that is not also a criminal violation.

A covered individual who alleges discharge or other discrimination by an employer in violation of such prohibition is authorized to seek relief: (1) by filing a complaint with the Department of Labor; or (2) if Labor has not issued a final decision within 180 days of such filing, by bringing an action at law or equity in the appropriate U.S. district court. A covered individual who prevails in any such action is entitled to all relief necessary to make the individual whole, including reinstatement with the same status, back pay plus interest, and compensation for special damages sustained.

Date: 2015-06-17
Topic: Domestic Commerce (Corporate Management)
Subject: Commerce
Standard Merger and Acquisition Reviews Through Equal Rules Act of 2015

This bill amends the Clayton Act with respect to actions brought by the Attorney General for violations of antitrust laws. The Federal Trade Commission (FTC) is required, but only under the Clayton Act, to exercise the same authority and procedures of the Attorney General specified in the Act with respect to the prohibition against acquisition by one corporation of the stock of another (merger) that may substantially lessen competition or tend to create a monopoly.

The Federal Trade Commission Act (FTCA) is amended to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from FTC proceedings, except in cases where the FTC approves an agreement with the parties to the transaction that contains a consent order.

Jurisdiction is granted to the U.S. district courts to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that results in an unfair method of competition.

Date: 2015-09-30
Topic: Domestic Commerce (Corporate Management)
Subject: Commerce
Incorporation Transparency and Law Enforcement Assistance Act

This bill amends the Omnibus Crime Control and Safe Streets Act of 1968, in order to protect the United States from misuse affecting interstate or foreign commerce of corporations and limited liability companies with hidden owners, to require states receiving funding under the Edward Byrne Memorial Justice Assistance Grant Program to: (1) use an incorporation system that requires applicants for forming corporations or limited liability companies (corporations), and corporations that have formed, to provide and update lists of their beneficial owners; (2) maintain beneficial ownership information for five years after the corporation terminates; and (3) provide such information pursuant to certain criminal, civil, or administrative requests.

It authorizes a state that maintains a formal licensing system for formation agents to permit applicants or corporations to provide such information to an agent residing in that state instead of to that state directly. It requires such an agent to certify verification of specified identifying information for applicants or corporation owners or officers who do not have a non-expired U.S.-issued passport, drivers license, or identification card.

It specifies exempt entities. It also prescribes penalties for providing false or fraudulent beneficial ownership information or for willfully failing to provide complete or updated information.

The bill requires the Administrator for Federal Procurement Policy to revise the Federal Acquisition Regulation to require any contractor subject to the requirement to disclose beneficial ownership information under this bill to provide the information to the federal government as part of any bid for a contract with a value exceeding the simplified acquisition threshold.

It directs the Department of the Treasury to promulgate a rule requiring persons engaged in the business of forming corporations to establish anti-money laundering programs.

The Government Accountability Office must study and report on: (1) the extent to which states enable persons to form partnerships, trusts, charitable organizations, or other legal entities under state law and require such persons to provide beneficial owner information; and (2) the effectiveness of incorporation practices implemented under this bill in aiding law enforcement.

Date: 2016-02-03
Topic: Domestic Commerce (Corporate Management)
Subject: Crime and law enforcement
Pay What You Owe Before You Go Act

 This bill amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) of the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.

Date: 2016-03-10
Topic: Domestic Commerce (Corporate Management)
Subject: Taxation
Safety Over Secrecy Act of 2016

This bill amends the federal judicial code to prohibit courts, except when balancing confidentiality interests against public awareness interests in response to a party's motion, from approving or ordering the enforcement of any provision of a settlement agreement in a civil suit if: (1) a pleading in the suit alleges facts relevant to protecting the public from a hazard to public safety or health; and (2) the provision prohibits a party from disclosing settlement terms (other than the amount of any money paid under the settlement) or from discussing the suit, evidence produced in the suit, or the hazard to public safety or health.

A "hazard to public safety or health" is defined as an activity, substance, or condition that has a potential to cause harm to the health or safety of the public.

Upon a motion by a party to the settlement agreement, a court may approve or order enforcement of such a provision if: (1) the public interest in disclosure of facts relevant to protecting the public is outweighed by a specific and substantial interest in maintaining the confidentiality of the information or records, and (2) the requested order is no broader than necessary to protect such confidentiality.

The bill establishes a rebuttable presumption that the interest in protecting financial, medical, or other similar personal information relating to an identifiable individual outweighs the public interest in disclosure. Courts may redact language to accommodate personal privacy and public awareness.

The bill also prohibits courts from approving or ordering the enforcement of a settlement agreement provision in a civil suit that includes allegations concerning public safety and health hazards if the provision restricts a party from disclosing such information to a federal or state agency with law enforcement or regulatory authority over related activity. But facts disclosed to a federal or state agency must be protected as confidential under any other laws, regulations, or agreements.

Date: 2016-09-21
Topic: Domestic Commerce (Corporate Management)
Subject: Law
Seniors Offering Quality Child Care Act of 2007 - Amends the Child Care and Development Block Grant Act of 1990 (CCDBGA) to: (1) increase the portion of funds states must use for activities to improve the quality of child care services; (2) include among such activities examining methods to increase recruitment, retention, and compensation of child care workers age 55 and older; and (3) exempt allowances, earnings, and payments to such older individuals under CCDBGA from consideration as income in determining eligibility for and amount of income transfer and in-kind aid under any federal or federally assisted program based on need. Amends the Social Security Act to exempt compensation for child caregiving services of employees of eligible child care providers from consideration under the Social Security earnings test.

Date: 2007-01-17
Topic: Social Welfare (Child Care)
Subject: Families
Family and Medical Leave Expansion Act - Family Income to Respond to Significant Transitions Insurance Act - Directs the Secretary of Labor to make five-year grants to a state or local government to pay for the federal share of the cost of carrying out projects that assist families by providing wage replacement for eligible individuals responding to caregiving needs resulting from the birth or adoption of a son or daughter or other family caregiving needs. Family and Medical Leave Fairness Act of 2005 [sic]- Amends the Family and Medical Leave Act of 1993 (FMLA) to extend coverage to employees at worksites where the employer employs at least 25 (currently, 50) employees at the worksite and within 75 miles of that worksite. Amends FMLA and federal civil service law to entitle to leave those employees who must address the effects of domestic violence. Federal Employees Paid Parental Leave Act of 2005 [sic]- Permits the Office of Personnel Management (OPM) to contract with one or more employing agencies to conduct a grant project that provides paid leave for eligible individuals who are responding to caregiving needs resulting from the birth or adoption of a son or daughter or other family caregiving needs. Requires the leave to last for at least six weeks during a 12-month period. Time for Schools Act of 2005 [sic] - Amends FMLA to allow employees covered by such Act to take up to 24 hours, during any 12-month period, of school involvement leave to participate in: (1) an academic activity of their child's school, such as a parent-teacher conference or an interview for a school; or (2) literacy training under a family literacy program. Amends federal civil service law to provide the same school involvement leave allowance for federal employees.

Date: 2007-03-07
Topic: Social Welfare (Child Care)
Subject: Labor and employment
Emergency Gulf Coast Child Care Construction and Rebuilding Act - Amends the Housing and Community Development Act of 1974 to authorize the use of community development block grants to construct and renovate child care facilities located in any major disaster area resulting from Hurricane Katrina or Rita of 2005. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure: (1) mortgages for new or substantially rehabilitated child care and development facilities; (2) loans to such facilities for fire safety equipment; and (2) mortgages executed in connection with the purchase or refinancing of existing child care facilities. Directs the Secretary of the Treasury to study and report to Congress on the availability of secondary markets for such mortgages. Authorizes HUD grants to eligible nonprofit organizations for technical and financial assistance to assist eligible child care providers in acquiring or improving facilities or equipment.

Date: 2007-03-08
Topic: Social Welfare (Child Care)
Subject: Finance and financial sector
Anthony DeJuan Boatwright Act - Amends the Child Care and Development Block Grant Act of 1990 to require a state to include, as part of its regulatory process for issuance and renewal of licenses to providers of child care services, a recommendation to each provider that it carry current liability insurance covering the operation of its child care business.Requires state plans for the use of child care and development block grant funds to certify that there are in effect state or local health and safety requirements that each child care provider: (1) post publicly and conspicuously in the service area of its premises a notice specifying whether it carries current liability insurance covering the operation of its child care business; and (2) give written notice to parents about whether it carries such insurance, obtain the signature of at least one parent per child acknowledging receipt of such notice, and maintain records of such signed notice while a child receives services.

Date: 2007-03-12
Topic: Social Welfare (Child Care)
Subject: Families
Family Care Act of 2007 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for expenses for household and dependent care services; and (2) allow an inflation adjustment after 2007 to the adjusted gross income limitation applicable to such credit. Makes such increased tax credit permanent.

Date: 2007-04-17
Topic: Social Welfare (Child Care)
Subject: Taxation
Child Care Construction and Renovation Act of 2007 - Amends the Housing and Community Development Act of 1974 to authorize the use of community development block grants to construct and renovate child care facilities.Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure mortgages for: (1) new or rehabilitated child care and development facilities, including for fire safety equipment loans; and (2) acquiring or refinancing debt of existing child care facilities.Directs the Secretary of the Treasury to study the availability of secondary markets for mortgages on child care facilities.Authorizes HUD grants to eligible nonprofit organizations for technical and financial assistance to assist eligible child care providers in acquiring or improving facilities or equipment.Applies the provisions of the Davis-Bacon Act to actions taken under this Act.

Date: 2007-04-17
Topic: Social Welfare (Child Care)
Subject: Families
Tax Relief for Working Caregivers Act of 2007 - Amends the Internal Revenue Code to: (1) increase from $15,000 to $75,000 the taxpayer adjusted gross income amount at which the tax credit for household and dependent care expenses is phased down; and (2) allow such credit for a physically or mentally incapacitated parent (or an ancestor of such parent) of the taxpayer who is a dependent of such taxpayer.

Date: 2007-04-18
Topic: Social Welfare (Child Care)
Subject: Taxation
Right Start Child Care and Education Act of 2007 - Amends the Internal Revenue Code to: (1) increase the rates and maximum allowable amount of the tax credit for employer-provided child care; (2) increase the dollar limit on the child care tax credit; and (3) allow a $2,000 tax credit for child care providers who hold a bachelor's degree in early childhood education, child care, or a related degree and who provide at least 1,200 hours of child care services in a taxable year.

Date: 2007-04-24
Topic: Social Welfare (Child Care)
Subject: Taxation
Child Care Public-Private Partnership Act of 2007 - Directs the Secretary of Health and Human Services to establish a business-incentive grant program to provide child care through public-private partnerships. Provides program grants to cover up to one-third of the costs for: (1) businesses or consortia to start up, or provide additional, employee child care services; and (2) nonprofit business organizations to provide technical information and assistance to enable businesses to provide such services. Requires such services to: (1) be provided equitably and affordably to low- and moderate-income employees; and (2) comply with state and local licensing requirements. Gives priority in grant selection to businesses with fewer than 100 full-time employees.

Date: 2007-05-21
Topic: Social Welfare (Child Care)
Subject: Families
Airline Flight Crew Technical Corrections Act - Amends the Family and Medical Leave Act of 1993 with respect to hours-of-service requirement airline flight crews must meet to be eligible for leave under such Act. Declares that a flight attendant or flight crewmember will be considered to meet such requirement if he or she has worked or been paid for: (1) 60% of the applicable monthly guarantee, or the equivalent annualized over the preceding 12-month period; and (2) a minimum of 504 hours during such period. Authorizes the Secretary of Labor to provide, by regulation, a method for calculating such leave for airline flight crews.

Date: 2007-06-15
Topic: Social Welfare (Child Care)
Subject: Labor and employment
Family and Medical Leave Inclusion Act - Amends the Family and Medical Leave Act of 1993 to provide for employee leave to care for a same-sex spouse as determined under applicable state law, domestic partner, parent-in-law, adult child, sibling, or grandparent (as well as for a spouse, child, or parent), if such person has a serious health condition. Amends federal civil service law to apply the same leave allowance to federal employees.

Date: 2007-06-20
Topic: Social Welfare (Child Care)
Subject: Labor and employment
Living Organ Donor Job Security Act - Amends the Family and Medical Leave Act of 1993 (FMLA) to entitle employees covered by FMLA to leave to provide a living organ donation, including for time spent for: (1) tests to determine medical suitability of the employee for donation; (2) physical, psychological, and social evaluations of the donor; (3) pretransplant outpatient services; (4) postoperative inpatient and outpatient transplantation services; (5) travel in connection with such tests, evaluations, and services; and (6) recuperation.

Date: 2007-06-21
Topic: Social Welfare (Child Care)
Subject: Labor and employment
Military Family and Medical Leave Act - Amends the Family and Medical Leave Act of 1993 to entitle an eligible employee to up to 26 workweeks of leave during a 12-month period to care for a covered service member who is the employee's spouse, son, daughter, or parent. Defines covered service member as a member of the U.S. Armed Forces, including a member of the National Guard or a Reserve, who is undergoing medical treatment, recuperation, or therapy, or is otherwise in medical hold or medical holdover status, for a serious injury or illness. Declares that nothing in this Act shall be construed to limit the availability of such leave during any other 12-month period. Provides for the substitution of accrued paid vacation, personal, or family leave for any part of the 26-week period. Limits a husband and wife both working for the same employer to such 26 weeks altogether during a single 12-month period.

Date: 2007-08-03
Topic: Social Welfare (Child Care)
Subject: Labor and employment
Quality Child Care for America Act - Amends the Child Care and Development Block Grant Act of 1990 to authorize appropriations for child care workforce development initiatives. Provides for funds to state and local governments and Indian tribes to carry out one or more specified child care workforce development initiatives. Requires a state plan to specify the activities that it will provide through any particular workforce development initiative.

Date: 2007-10-17
Topic: Social Welfare (Child Care)
Subject: Families
Family Leave Insurance Act of 2008 - Directs the Secretary of Labor to establish a Family and Medical Insurance Program, mandatory for certain covered employers. Authorizes the Secretary to: (1) contract for a state to provide specified leave benefits in that state through the Program, including expansion of a pre-existing state program; or (2) at a governor's request enter an interagency agreement with the Commissioner of the Social Security Administration to establish and provide Program benefits directly through a state Family and Medical Insurance Program. Entitles eligible employees to Program benefits that include specified percentages of their daily earnings for 12 workweeks of leave under the Family and Medical Leave Act of 1993 during any 12-month period. Authorizes any employer, with the Secretary's approval, to establish a voluntary plan meeting specified criteria. Specifies prohibited acts by an employer, and penalties for violations. Requires the Director of the Office of Personnel Management (OPM) to establish a Civil Service Family and Medical Leave Insurance Program with the same Program benefits for certain federal agency employees. Establishes the Family and Medical Leave Insurance Fund in the Treasury. Amends the Internal Revenue Code to impose a family and medical leave premium on every individual and every employer to finance a Family and Medical Leave Trust Fund in the Treasury for Program benefits. Exempts from such premium: (1) employers or self-employers with voluntary plans approved by the Secretary as equivalent or better than the Program; and (2) small employers who have elected not to participate in it.

Date: 2008-04-22
Topic: Social Welfare (Child Care)
Subject: Labor and employment
Caregiver Financial Relief Act of 2008 - Amends the Internal Revenue Code to: (1) allow caregivers of family members with long-term care needs a refundable tax credit of $3,000 for up to two such family members each year through 2010; (2) allow in 2009 and 2010 the tax credit for dependent care expenses for parents (or ancestors of such parents) who do not reside with the taxpayer; and (3) allow in 2009 and 2010 an increased exclusion from gross income for employer-provided dependent care assistance.

Date: 2008-06-26
Topic: Social Welfare (Child Care)
Subject: Taxation