Summary: Amends the Internal Revenue Code to increase the unified credit against the estate and gift tax to $5 million after 2009 and to adjust such amount for inflation for estates opened after 2010. Restores previous estate tax and carryover basis provisions temporarily repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Modifies the general termination date of such Act (i.e., December 31, 2010) as it applies to certain EGTRRA estate and gift tax provisions.

amends internal revenue code increase unified credit estate gift tax million adjust inflation estates opened restores previous estate tax carryover basis provisions temporarily repealed economic_growth_and_tax_relief_reconciliation_act egtrra modifies general termination date act december applies certain egtrra estate gift tax provisions


Summary: Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services.

amends internal revenue code treat corporations income tax purposes certain publicly traded partnerships directly indirectly derive income gain providing services investment adviser defined asset management services


Summary: 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.

defined contribution plan fee transparency act amends internal revenue code impose penalty tax employers maintaining defined contribution pension plans failure plan administrators provide plan participants beneficiaries prior enrollment plan certain notices disclosures pertaining fees charges investment alternatives manner making elections designated investment alternatives sets forth types information investment alternatives required plan notice disclosure requires plan administrators provide plan participants beneficiaries enrollment quarterly notices describing investment alternatives associated fees charges plans imposes penalty tax provider services defined contribution plan failure provide plan administrator certain disclosures including total fees expenses expected paid plan relationships service provider parties offering investment products directs secretary treasury issue final regulations written formats allowed providing notices disclosures required act


Summary: 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.

empowerment act amends internal revenue code residents puerto_rico eligible earned income tax credit


Summary: 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.

promoting charitable actions act amends internal revenue code permanent special rule allowing tax deduction charitable contributions food inventory certain noncorporate taxpayers


Summary: 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.

neighborhood investment act amends internal revenue code exclude gross income gain sale single family residential rental property held taxpayer years rented single dwelling unit regular basis year period prior sale limits exclusion


Summary: 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.

strengthening medicaid america children act amends title xix medicaid social security act require increased federal medical assistance percentage fmap children certain states implement specified policies medical assistance children


Summary: Statutory Pay-As-You-Go Act of 2009 - (Sec. 4) Requires a Pay-As-You-Go (PAYGO) Act to include by reference an estimate of its budgetary effects as determined by the Congressional Budget Act of 1974 (CBA), if timely submitted for printing in the Congressional Record by the chairs of the congressional budget committees (chairs) before the vote on it. Requires: (1) the Clerk of the House of Representatives or the Secretary of the Senate, as applicable, also to incorporate by reference such printed estimate into the enrollment of a PAYGO Act; and (2) budgetary effects that are not so included to be determined by the Office of Management and Budget (OMB) estimates. Amends the CBA to require the chairs to request from the Director of the Congressional Budget Office (CBO) an estimate of the budgetary effects of a PAYGO Act before a vote in either chamber on it that, if determined in the affirmative, would clear it for enrollment. Directs the chairs to post such estimate on their respective committee websites and cause it to be printed in the Congressional Record under "PAYGO ESTIMATE." Requires CBO to make specified estimate adjustments when calculating budgetary effects of certain designated legislation affecting current policy, as detailed in Sec. 7 of this Act. Requires OMB to maintain and make publicly available a continuously updated document containing two PAYGO scorecards (the first for a five-year period and the second for a 10-year period for the beginning of each respective budget year) displaying the budgetary effects of PAYGO legislation, applying certain look-back and averaging requirements. Requires OMB to display as a separate addendum the cost estimates of provisions designated in statute as emergency requirements. (Sec. 5) Requires OMB to: (1) make an annual public PAYGO report, including a up-to-date document containing the PAYGO scorecards, within 14 business days after Congress adjourns to end a session; and (2) prepare for the President an offsetting sequestration order, which the President shall issue, if such report shows a debit on either PAYGO scorecard for the budget year. (Sec. 6) Prescribes requirements for calculating a sequestration for nonexempt direct spending programs, including Medicare payments and certain nonexempt mandatory programs. (Sec. 7) Prescribes requirements for CBO adjustments of estimates of budgetary effects of PAYGO legislation for legislation affecting current policy for: (1) payments made under title XVIII (Medicare) of the Social Security Act for physician services; (2) the Estate and Gift Tax under the Internal Revenue Code; and (3) the permanent extension of middle-class tax cuts and the Alternative Minimum Tax (AMT) relief under the Economic Growth and Tax Relief Reconciliation Act of 2001 or the Jobs and Growth Tax Relief and Reconciliation Act of 2003. (Sec. 8) Applies to this Act certain sequestration order requirements of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), as amended by this Act, including the authority of Members of Congress and certain individuals to request an expedited judicial review of a sequestration order. (Sec. 9) Makes technical and conforming amendments to the Gramm-Rudman-Hollings Act. (Sec. 10) Exempts from sequestration: (1) low-income subsidies and catastrophic subsidies under Part D (Voluntary Prescription Drug Benefit Program) of the Social Security Act (SSA); and (2) qualified individual (QI) premiums for Medicare cost-sharing for certain dual eligible low-income Medicare beneficiaries under SSA title XIX (Medicaid). (Sec. 11) Amends the Gramm-Rudman-Hollings Act to specify additional Social Security, veterans, Tier I Railroad Retirement benefits and other programs and activities exempt from a sequestration order as well as certain economic recovery programs.

statutory pay act sec requires pay paygo act include reference estimate budgetary effects determined congressional_budget_act cba timely submitted printing congressional_record chairs congressional budget committees chairs vote requires clerk house_of_representatives secretary senate applicable incorporate reference printed estimate enrollment paygo act budgetary effects included determined office_of_management_and_budget omb estimates amends cba require chairs request director congressional_budget_office cbo estimate budgetary effects paygo act vote chamber determined affirmative clear enrollment directs chairs post estimate respective committee websites cause printed congressional_record paygo estimate requires cbo specified estimate adjustments calculating budgetary effects certain designated legislation affecting current policy detailed sec act requires omb maintain publicly available continuously updated document containing paygo scorecards year period second year period beginning respective budget year displaying budgetary effects paygo legislation applying certain look averaging requirements requires omb display separate addendum cost estimates provisions designated statute emergency requirements sec requires omb annual public paygo report including date document containing paygo scorecards business days congress adjourns end session prepare president offsetting sequestration order president shall issue report shows debit paygo scorecard budget year sec prescribes requirements calculating sequestration nonexempt direct spending programs including medicare payments certain nonexempt mandatory programs sec prescribes requirements cbo adjustments estimates budgetary effects paygo legislation legislation affecting current policy payments title xviii medicare social security act physician services estate gift tax internal revenue code permanent extension middle class tax cuts amt relief economic growth tax relief reconciliation act sec applies act certain sequestration order requirements balanced_budget emergency deficit control act gramm rudman hollings act amended act including authority members congress certain individuals request expedited judicial review sequestration order sec makes technical conforming amendments gramm rudman hollings act sec exempts sequestration low income subsidies catastrophic subsidies voluntary prescription drug benefit program social security act ssa qualified individual premiums medicare cost sharing certain dual eligible low income medicare beneficiaries ssa title xix medicaid sec amends gramm rudman hollings act specify additional social_security veterans benefits programs activities exempt sequestration order certain economic recovery programs


Summary: 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.

amends internal revenue code terminate taxpayer finance presidential election campaigns related provisions presidential primary matching payment accounts directs secretary treasury transfer amounts remaining fund general fund treasury


Summary: 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.

repaying american taxpayer act amends emergency economic stabilization act eesa require payment treasury reduction public debt dividends share preferred stock financial institution obtained held secretary treasury conjunction financial assistance provided institution eesa requires statutory limitation public debt reduced aggregate revenues proceeds paid treasury directs special inspector general report certain congressional committees disposition dividend payments


Summary: 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.

amends internal revenue code direct secretary treasury receiving notice state local government named individual owes past legally enforceable tax obligation local pay tax debt federal tax refund individual notifying individual offset


Summary: 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.

transparent markets act amends internal revenue code impose excise tax counter derivative transactions sets rate tax fair market value underlying property respect notional principal derivative financial instrument involved transactions defines derivative financial instrument option forward contract short position notional principal contract credit default swap similar financial instrument share corporate stock interest widely held publicly traded partnership trust debt instrument commodity actively traded foreign currency specified index


Summary: 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.

small business growth act amends internal revenue code allow small business taxpayers gross receipts million elect expense certain depreciable real property year property placed service limits expensing allowance adjusted inflation


Summary: 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.

amends internal revenue code permanent standard tax deduction real property taxes repeal dollar limitation deduction exclusion foreign real property taxes


Summary: 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.

amends internal revenue code permanent tax deduction charitable contributions food inventory certain noncorporate taxpayers set forth rules determining basis fair market value contributed food limit reduction deduction fair market value contributed food exceeds twice basis food


Summary: 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.

provide return financial investment taxpayer act profit act amends emergency economic stabilization act eesa require secretary treasury sell public auction warrants associated eesa assistance time financial institution makes repayment assistance exempts requirement warrants associated repayment financial institution received million assistance


Summary: 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

equitable transparent pet amends congressional budget act limit allocation solely appropriation earmarks allocated senate house appropriations committees fiscal year budget resolution entitles senator senate earmark allocation member house house earmark allocation makes order chamber consider measure cause level total new budget authority total outlays appropriation earmarks adjusted set forth applicable budget resolution exceed breach limitations requires member senator requesting appropriation earmark legislative days making request submit requested project project description subject matter appropriate clerk posting clerk website insert congressional_record written statement includes information certifies member senator family member financial interest earmark requires clerk website include date comprehensive searchable database comprising requests current fiscal year budget year makes conforming amendment rule xxi restrictions rules house


Summary: 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.

discretionary spending control act amends balanced_budget emergency deficit control act gramm rudman hollings act extend fy2014 spending limits spending caps discretionary categories new budget authority outlays amends congressional_budget_act order chamber consider legislation increases discretionary spending limits ensuing fiscal year budget year cause discretionary spending limits year breached budget resolution cause discretionary spending limits budget year breached appropriation bill joint resolution amendment conference report provides advance discretionary new budget authority available fiscal year budget year program project activity appropriations fy2007 amends gramm rudman hollings act require final discretionary sequestration reports set forth estimates current year subsequent year fy2014 applicable discretionary spending limits category explanation adjustments limits amends act extend pay paygo enforcement mechanisms fy2014


Summary: 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.

amends internal revenue code increase income tax deduction business meals entertainment expenses expenses calendar year


Summary: 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.

home improvements revitalize economy act hire act amends internal revenue code allow income based tax deduction purchase residential building products products meet specified environmental standards tax credit purchase price residential building products general business tax credit purchase residential building products resale customers terminates deduction credits


Summary: 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.

generate retirement ownership long term holding act amends internal revenue code provide gain shall recognized receipt capital gain dividend distributed regulated investment company dividend automatically reinvested additional shares company pursuant dividend reinvestment plan


Summary: 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.

tarp executive disclosure act requires chief executive officer financial institution receives federal assistance troubled_asset_relief_program tarp emergency_economic_stabilization_act eesa specified federal law report secretary treasury specified financial information required ethics government act treats secretary designated agency ethics official purposes taking action ethics government act respect person fails file report files false report acting custodian providing public access reports filed act reviewing reports authorizes secretary addition specified action individual fails comply reporting requirement terminate require repayment assistance provided financial institution gave rise reporting requirement respect senior executive officers requires board_of_governors federal_reserve_system federal_deposit_insurance_corporation fdic carry secretary determination respect assistance financial institution board fdic provided


Summary: 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.

directs secretary treasury enter agreement volunteer employees beneficiary association established enactment act benefit eligible separated employees dependents order transfer amounts purposes establishing obtaining coverage health care plan benefit employees dependents limits application act employees respect obligation provide health care coverage discharged bankruptcy proceeding directs secretary available billion troubled_asset_relief_program tarp funds emergency_economic_stabilization_act eesa provide health care coverage substantially coverage obligation discharged


Summary: 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.

makes permanent provisions economic_growth_and_tax_relief_reconciliation_act egtrra repeal estate generation skipping transfer taxes reductions gift tax


Summary: 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.

amends internal revenue code exempt harbor maintenance tax commercial cargo bulk cargo loaded port mainland unloaded port transport solely coastal route river unloaded port canada located great lakes saint lawrence seaway system port canada unloaded port mainland defines great lakes saint lawrence seaway system waterway duluth minnesota encompassing great lakes connecting channels saint lawrence river


Summary: 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.

amends internal revenue code exempt income taxation newspaper corporation organization publishes regular basis newspaper general circulation newspaper contains local national international news interest general public distribution newspaper necessary valuable achieving educational purpose preparation material contained newspaper follows methodology generally accepted educational exempts advertising income tax exempt newspaper corporation organization taxation unrelated business income allows charitable tax deduction contributions newspaper corporation organization


Summary: 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.

small_business_tax_equalization compliance act amends internal revenue code extend tax credit social security taxes paid employee cash tips employers cosmetologists requires employers cosmetologists report income tips cosmetologist employees provide income tip information self employed cosmetologists pay taxable year imposes similar reporting requirements individuals rent chairs cosmetologists requires employers provide cosmetologist employees self employed cosmetologists information tax tip reporting obligations employees self employed individuals


Summary: 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.

amends internal revenue code provisions relating time homebuyer tax credit extend tax credit extend december date purchases principal residence treated december tax purposes extend waiver recapture requirements residences purchased december rescinds certain discretionary appropriations available division american_recovery_and_reinvestment_act cover cost act


Summary: 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.

amends internal revenue code provisions relating time homebuyer tax credit extend tax credit extend december date purchases principal residence treated december tax purposes extend waiver recapture requirements residences purchased december


Summary: 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.

amends internal revenue code provisions relating time homebuyer tax credit extend credit purchasers principal residence currently limited time purchasers increase maximum credit repeal income based phaseout credit waive recapture provisions credit members uniformed services employees intelligence community official extended duty service extend credit november rescinds unobligated balances discretionary appropriations available division american_recovery_and_reinvestment_act


Summary: 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.

wireless freedom act amends internal revenue code repeal limitation depreciation cellular telephones personal purposes exempt employer provided wireless devices taxation minimis fringe benefit


Summary: 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.

indigent funeral expense reimbursement act amends internal revenue code allow funeral home tax deduction unreimbursed expense providing funeral burial goods services deceased indigent individual limits annual deduction


Summary: 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%.

small business repeals provisions economic_growth_and_tax_relief_reconciliation_act egtrra eliminating tax estates generation skipping transfers step basis provisions property acquired decedent estates decedents dying declares sunset provision general terminating date december egtrra shall apply title act estate gift generation-skipping_transfer_tax_provisions amends internal revenue code provide increase estate tax exclusion million eliminating phase period impose maximum estate tax rate


Summary: 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.

amends internal revenue code provisions relating time homebuyer tax credit extend credit waiver recapture provisions september extend december election treat tax purposes residence purchased having purchased december allow taxpayers treat tax purposes residence purchased december october having purchased december extend december coordination time homebuyer tax credit district_of_columbia residents


Summary: 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.

estate tax relief act repeals provisions economic_growth_and_tax_relief_reconciliation_act egtrra eliminating tax estates generation skipping transfers step basis provisions property acquired decedent estates decedents dying declares sunset provision general terminating date december egtrra shall apply title act estate gift generation-skipping_transfer_tax_provisions amends internal revenue code allow annual increases estate tax exclusion reaches million inflation adjustments phase annual reductions estate tax rate eliminate deduction state estate inheritance legacy succession taxes period


Summary: 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.

foreign account tax compliance act amends internal revenue code revise add reporting requirements relating income assets held abroad including requiring foreign financial nonfinancial institutions withhold payments institutions individuals institutions agree disclose identity individuals report bank transactions denying tax deduction interest non registered bonds issued outside united_states requiring individual holds depository custodial account maintained foreign financial institution report accounts imposing enhanced tax penalty underpayments attributable undisclosed foreign financial assets extending limitation period assessment underpayments respect assets held outside united_states requiring certain tax advisors assist individuals acquiring direct indirect interest foreign entity file information return disclosing identity foreign entity individual investors requiring shareholders passive foreign investment company file informational returns enhancing tax rules penalties relating foreign trusts beneficiaries requiring withholding tax dividend equivalent payments received foreign individuals


Summary: 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).

heating energy assistance tax credit act amends internal revenue code allow individual taxpayer refundable tax credit taxable year married couple filing joint tax return cost heating taxpayer principal place abode reduces credit taxpayers adjusted gross income exceeds married couples filing joint tax returns


Summary: 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.

amends internal revenue code allow year recovery period depreciation purposes nonresidential real property year recovery period qualified leasehold property placed service december january


Summary: 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.

amends internal revenue code allow year carryback net operating losses including operating losses life insurance companies incurred denies extended loss carryover period taxpayers federal government acquires equity interest emergency_economic_stabilization_act federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac members certain affiliated groups directs secretary treasury transfers general fund cover reductions revenues resulting act


Summary: 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.

extends estate gift tax rates effect eliminating general terminating date december economic_growth_and_tax_relief_reconciliation_act egtrra applicable rates amends internal revenue code establish permanent million estate tax exclusion adjusted inflation maximum estate gift tax rate restore estate tax deduction family owned business interests increase deduction million adjusted annually inflation exclude gross estate decedent value farmland farm farming purposes


Summary: 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.

amends internal revenue code allow deduction gross estate decedent capital losses decedent carry subsequent taxable years time decedent death


Summary: 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.

corporation inventory contribution act amends internal revenue code extend tax deduction charitable contributions inventory corporations limits deduction corporations corporations aggregate net income


Summary: 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.

amends internal revenue code reduce excise tax rate net investment income tax exempt private foundations suspend reduction tax rate private foundations meet certain distribution requirements directs secretary treasury conduct submit congress december study examines effect tax rate changes act level private foundations


Summary: 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).

business sector act amends internal revenue code exclude gross income long term capital gains dividend income reduce year period employment self employment tax rates reduce corporate income tax rates reduce income tax rate taxpayers lowest income tax bracket rescinds unobligated balances discretionary appropriations available division american_recovery_and_reinvestment_act stimulus funds


Summary: Division A: Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 - Permanent Estate Tax Relief For Families, Farmers, and Small Businesses Act of 2009 - (Sec. 2) 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 (thus retaining estate and gift tax provisions in effect in 2009). Declares that the sunset provision (general termination date of December 10, 2010) of EGTRRA shall not apply to the estate and gift tax provisions of that Act (thus preventing a reversion to estate and gift tax provisions in effect prior to its enactment). (Sec. 3) Amends the Internal Revenue Code to establish a permanent $3.5 million exclusion amount and a maximum tax rate of 45% for decedents dying, and gifts made, after December 31, 2009. Division B: Statutory Pay-As-You-Go Act of 2009 - Statutory Pay-As-You-Go Act of 2009 - (Sec. 104) Requires a Pay-As-You-Go (PAYGO) Act to include by reference an estimate of its budgetary effects as determined by the Congressional Budget Act of 1974 (CBA), if timely submitted for printing in the Congressional Record by the chairs of the congressional budget committees (chairs) before the vote on it. Requires: (1) the Clerk of the House of Representatives or the Secretary of the Senate, as applicable, also to incorporate by reference such printed estimate into the enrollment of a PAYGO Act; and (2) budgetary effects that are not so included to be determined by the Office of Management and Budget (OMB) estimates. Amends the CBA to require the chairs to request from the Director of the Congressional Budget Office (CBO) an estimate of the budgetary effects of a PAYGO Act before a vote in either chamber on it that, if determined in the affirmative, would clear it for enrollment. Directs the chairs to post such estimate on their respective committee websites and cause it to be printed in the Congressional Record under "PAYGO ESTIMATE." Requires CBO to make specified estimate adjustments when calculating budgetary effects of certain designated legislation affecting current policy, as detailed in section 7 of this Act. Requires OMB to maintain and make publicly available a continuously updated document containing two PAYGO scorecards (the first for a 5-year period and the second for a 10-year period for the beginning of each respective budget year) displaying the budgetary effects of PAYGO legislation, applying certain look-back and averaging requirements. Requires OMB to display as a separate addendum the cost estimates of provisions designated in statute as emergency requirements. (Sec. 105) Requires OMB to: (1) make an annual public PAYGO report, including a up-to-date document containing the PAYGO scorecards, within 14 business days after Congress adjourns to end a session; and (2) prepare for the President an offsetting sequestration order, which the President shall issue if such report shows a debit on either PAYGO scorecard for the budget year. (Sec. 106) Prescribes requirements for calculating a sequestration for nonexempt direct spending programs, including Medicare payments and certain nonexempt mandatory programs. (Sec. 107) Prescribes requirements for CBO adjustments of estimates of budgetary effects of PAYGO legislation for legislation affecting current policy for: (1) payments made under title XVIII (Medicare) of the Social Security Act for physician services; (2) the Estate and Gift Tax under the Internal Revenue Code; and (3) the permanent extension of middle-class tax cuts and the Alternative Minimum Tax (AMT) relief under EGTRRA or the Jobs and Growth Tax Relief and Reconciliation Act of 2003. (Sec. 108) Applies to this Act certain sequestration order requirements of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), as amended by this Act, including the authority of Members of Congress and certain individuals to request an expedited judicial review of a sequestration order. (Sec. 109) Makes technical and conforming amendments to the Gramm-Rudman-Hollings Act. (Sec. 110) Exempts from sequestration: (1) low-income subsidies and catastrophic subsidies under Part D (Voluntary Prescription Drug Benefit Program) of the Social Security Act (SSA); and (2) qualified individual (QI) premiums for Medicare cost-sharing for certain dual eligible low-income Medicare beneficiaries under SSA title XIX (Medicaid). (Sec. 111) Amends the Gramm-Rudman-Hollings Act to specify additional Social Security, veterans, Tier I Railroad Retirement benefits and other programs and activities exempt from a sequestration order as well as certain economic recovery programs.

division permanent estate tax relief families farmers small businesses act permanent estate tax relief families farmers small businesses act sec repeals provisions economic_growth_and_tax_relief_reconciliation_act egtrra eliminating tax estates generation skipping transfers step basis provisions property acquired decedent estates decedents dying retaining estate gift tax provisions effect declares sunset provision general termination date december egtrra shall apply estate gift tax provisions act preventing reversion estate gift tax provisions effect prior enactment sec amends internal revenue code establish permanent million exclusion maximum tax rate decedents dying gifts december division statutory pay act statutory pay act sec requires pay paygo act include reference estimate budgetary effects determined congressional_budget_act cba timely submitted printing congressional_record chairs congressional budget committees chairs vote requires clerk house_of_representatives secretary senate applicable incorporate reference printed estimate enrollment paygo act budgetary effects included determined office_of_management_and_budget omb estimates amends cba require chairs request director congressional_budget_office cbo estimate budgetary effects paygo act vote chamber determined affirmative clear enrollment directs chairs post estimate respective committee websites cause printed congressional_record paygo estimate requires cbo specified estimate adjustments calculating budgetary effects certain designated legislation affecting current policy detailed section act requires omb maintain publicly available continuously updated document containing paygo scorecards year period second year period beginning respective budget year displaying budgetary effects paygo legislation applying certain look averaging requirements requires omb display separate addendum cost estimates provisions designated statute emergency requirements sec requires omb annual public paygo report including date document containing paygo scorecards business days congress adjourns end session prepare president offsetting sequestration order president shall issue report shows debit paygo scorecard budget year sec prescribes requirements calculating sequestration nonexempt direct spending programs including medicare payments certain nonexempt mandatory programs sec prescribes requirements cbo adjustments estimates budgetary effects paygo legislation legislation affecting current policy payments title xviii medicare social security act physician services estate gift tax internal revenue code permanent extension middle class tax cuts amt relief egtrra sec applies act certain sequestration order requirements balanced_budget emergency deficit control act gramm rudman hollings act amended act including authority members congress certain individuals request expedited judicial review sequestration order sec makes technical conforming amendments gramm rudman hollings act sec exempts sequestration low income subsidies catastrophic subsidies voluntary prescription drug benefit program social security act ssa qualified individual premiums medicare cost sharing certain dual eligible low income medicare beneficiaries ssa title xix medicaid sec amends gramm rudman hollings act specify additional social_security veterans benefits programs activities exempt sequestration order certain economic recovery programs


Summary: 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.

tax technical corrections act makes technical clerical corrections internal_revenue_code including corrections provisions enacted american_recovery_and_reinvestment_tax_act tax extenders alternative minimum tax relief act heroes earnings assistance relief tax act economic stimulus act tax technical corrections act energy tax incentives act


Summary: 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.

stop tarp extension act amends emergency economic stabilization act eesa terminate december current law authority secretary treasury implement troubled_asset_relief_program tarp repeal secretary authority extend tarp program october submission written certification congress revises requirement revenues proceeds sale troubled assets purchased tarp sale exercise surrender warrants senior debt instruments acquired tarp paid general fund treasury reduction public debt establishes public debt reduction payment account directs secretary deposit account following remaining eesa funds amounts received repayment financial assistance payment interest recipient assistance tarp related program including revenues proceeds sale troubled assets purchased eesa sale exercise surrender warrants senior debt instruments current law instructs secretary use amounts account pay maturity redeem buy maturity obligation government held public included public debt deposit account specified funds received secretary pursuant eesa lowers statutory limit public debt aggregate amounts deposited prohibits receipts disbursements account counted new budget authority outlays receipts deficit surplus presidential congressional budget purposes requires exclusion official budget statements


Summary: 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.

unemployment compensation extension act sec amends supplemental appropriations act respect state established individual emergency unemployment compensation account euca extends final date entering federal state agreement program november postpones termination program april amends assistance_for_unemployed_workers struggling families act extend december requirements federal payments states cover euc amends unemployment compensation extension act exempt weeks unemployment enactment act april prohibition federal-state_extended_unemployment_compensation_act federal matching payments state week individual eligibility period extended compensation sharable regular compensation paid state law provides payment regular compensation individual week compensable unemployment allows temporary federal matching week extended benefits states waiting period amends supplemental appropriations act apply claims euc payments terms conditions state unemployment compensation law relating availability work active search work refusal accept work sec requires state determine individual paid euc regular compensation week unemployment specified methods individual determined entitled euc benefit year benefit year expired individual remaining entitlement euc benefit year qualify new benefit year weekly benefit regular compensation individual weekly benefit benefit year sec declares federal state agreements state agency makes euc payments certain individuals shall apply shall cease apply respect state method computing regular compensation state law modified manner reduces average weekly benefit regular compensation payable june average weekly benefit regular compensation payable state law effect date prohibits states reducing regular compensation order eligible federal funds euc program sec designates sec sec emergency house_of_representatives pursuant statutory pay act senate emergency requirement


Summary: 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.

common sense tax relief act amends internal revenue code permanent tax deductions state local sales taxes certain expenses elementary secondary school teachers tuition related expenses exempts certain provisions economic_growth_and_tax_relief_reconciliation_act relating child tax credit marriage penalty relief repeal estate tax tax deduction higher education expenses general terminating date act december makes provisions jobs_and_growth_tax_relief_reconciliation_act reducing tax rates capital gains dividend income permanent


Summary: 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.

mechanical insulation installation incentive act amends internal revenue code allow tax deduction specified percentage cost including labor costs installing maintaining mechanical insulation property defines mechanical insulation property insulation materials accessory products placed service connection mechanical system utilized thermal personnel safety requirements mechanical piping equipment hot cold applications heating venting air conditioning applications variety facilities


Summary: 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.

deficit reduction check act amends internal revenue code allow individual taxpayers designate tax returns initially annual increases taxable year reducing federal deficit amends balanced_budget emergency deficit control act gramm rudman hollings act require sequestration reduce federal deficit days congress adjourns end session directing office_of_management_and_budget omb apply board reduction federal spending equal times raised voluntary tax checkoff act exempts spending reduction social security railroad retirement benefits medicare benefits judicial salaries veterans benefits


Summary: 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.

telework tax incentive act amends internal revenue code allow employer employee tax credit year teleworking expenses incurred behalf teleworking employee arrangement employee days year


Summary: 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.

amends internal revenue code increase tax deduction charitable contributions qualified wild game meat processing fees paid respect contributions exclude gross income meat processors processing fees paid charitable organization processing donated wild game meat defines qualified wild game meat meat animal typically human consumption animal killed wild individual making charitable contribution meat apparently wholesome processed accordance applicable laws


Summary: 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.

impose excise tax bonus exceeding paid recipient financial assistance troubled_asset_relief_program tarp current employee establish treasury hold revenues tax requires administrator small_business_administration sba establish carry program loans directly small business concerns makes amounts fund available carry program


Summary: 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.

responsible banking act amends internal revenue code impose tax years bonus services performed federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac financial institution insurance company hedge fund financial adviser broker dealer securities lending finance business


Summary: 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.

impose tax current employees recipients financial assistance asset relief program tarp bonus exceeding paid establish treasury hold revenues tax requires administrator small_business_administration sba establish carry program loans directly small business concerns makes amounts fund available carry program


Summary: 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.

pay act amends emergency economic stabilization act eesa revise limitation authority secretary treasury purchase troubled assets troubled_asset_relief_program tarp billion outstanding time changes maximum authority billion aggregate higher aggregate obligated expended tarp enactment act requires secretary report congress months transfer treasury general_fund reduction public debt revenues proceeds sale troubled assets purchased tarp sale exercise surrender warrants senior debt instruments acquired tarp amends federal_national_mortgage_association charter act federal_home_loan_mortgage_corporation_act federal_home_loan_bank_act require secretary deposit treasury solely debt reduction amounts received secretary sale obligation security acquired federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac federal_home_loan_bank secondary market operations prohibits use amounts offset spending increases revenue reductions requires deposit treasury solely debt reduction periodic commitment fee fee assessment paid secretary fannie_mae freddie_mac result preferred stock purchase agreement mortgage backed security purchase program program activity housing_and_economic_recovery_act requires director federal_housing_finance_agency fhfa report congress fhfa plans continue support maintain nation vital housing industry time guaranteeing american taxpayer suffer unnecessary losses amends american_recovery_and_reinvestment_act arra require rescission arra stimulus funds offered accepted governor legislature state deposit treasury solely debt reduction requires treatment funds withdrawn executive agency head obligated state local government specific project rescinds deposit treasury solely debt reduction specified discretionary appropriations obligated december lowers statutory limit public debt amounts secretary receives act deposit treasury solely debt reduction


Summary: 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.

amends internal revenue code treat securities nonqualified preferred stock paid parent corporation subsidiary corporate reorganization cash payments subjecting gain attributable payments tax


Summary: 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.

real estate revitalization act amends internal revenue code respect foreign investment united_states real property redefine united_states real property interest eliminate exclusions relating interests holding corporations treat distributions real property interests real estate investment trusts reit regulated investment company ric ordinary dividends repeal election allowed foreign corporations treated domestic corporation purposes investment united_states real property interest


Summary: 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).

cash reward act amends internal revenue code allow tax deduction interest paid unsecured credit card limits deduction married couples filing joint tax return


Summary: 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.

small business job creation tax act amends internal revenue code allow employers credit payroll tax liability payroll increase quarter corresponding quarter previous calendar year sets credit increase employers employ fewer employees employers employ employees quarter limits total credit available quarters directs commissioner internal_revenue notify employers required withhold employment taxes enactment applicability act report congress enforcement measures taken prevent penalize fraud related payroll credit allowed act


Summary: 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.

cap spending congressional budget act order house_of_representatives senate consider bill joint resolution amendment conference report increasing statutory limit public debt measure includes limits total level discretionary direct spending consecutive fiscal years beginning fiscal year increase occur waives prohibition measure increasing statutory limit public debt statutory limits place total level spending consecutive fiscal years beginning fiscal year increase occur repeals rule statutory limit public debt rules house known rule provides mandatory adjustment statutory limit public debt conform budget resolution


Summary: 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).

amends internal revenue code eliminate drawback fee manufacture production distilled spirits non beverage products medicines preparations food products flavors flavoring unfit beverage purposes


Summary: 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.

debt free america act states purposes act raising sufficient revenue fee transactions eliminate national debt seven years phasing individual income tax amends internal revenue code impose fee offset corresponding nonrefundable income tax credit transactions use payment instrument including check cash credit card transfer stock bonds financial instrument defines transaction include retail wholesale sales purchases intermediate goods financial intangible transactions establishes legislative branch review fiscal imbalance federal government recommendations improve imbalance provides expedited consideration recommendations repeals individual income tax refundable nonrefundable personal tax credits alternative minimum tax amt individuals directs secretary treasury prioritize repayment national debt protect fiscal stability united_states study report congress implementation act


Summary: 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.

amends internal revenue code extend increased expensing allowance depreciable business assets additional depreciation allowance certain types investment property acquired election accelerate tax credits alternative minimum tax research expenditures lieu bonus depreciation


Summary: 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.

amends internal revenue code increase expensing allowance depreciable business assets extend related provisions including increased expensing certain computer software


Summary: 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.

allows reduction employer payroll taxes specified percentage employer increases aggregate payroll preceding calendar year


Summary: 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.

amends internal revenue code exclude gross income government payments taxpayer replacement remediation relating hazardous defective drywall installed taxpayer principal residence september prior enactment act


Summary: 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.

amends internal revenue code allow tax credit cash contributions charitable organizations


Summary: Small Businesses Add Value for Employees Act of 2009 [sic] or the SAVE Act of 2009 [sic] - Amends Internal Revenue Code provisions relating to employer-established simple individual retirement accounts (IRAs) to: (1) repeal certain restrictions on rollovers from simple IRAs: (2) allow employers to elect to terminate qualified salary reduction arrangements at any time during the year; (3) repeal the enhanced 25% penalty on premature withdrawals made from simple IRAs within the first two plan years; (4) allow additional nonelective employer contributions to simple IRAs; (5) establish automatic deferral IRAs; (6) allow a transfer of unused balances in flexible spending arrangements to a qualified retirement or eligible deferred compensation plan; (7) increase the tax credit for small employer pension plan startup costs; and (8) allow multiple small employer retirement plans that provide for automatic employee contributions. Requires the Office of Financial Education of the Department of the Treasury to develop and implement an outreach plan to educate small businesses on the types and benefits of available retirement plans. Requires the Secretaries of the Treasury and Labor to develop recommendations for small businesses to improve retirement outcomes. Requires the Secretary of the Treasury, in consultation with the Secretary of Education, to develop age-appropriate financial literacy curricula for elementary and secondary schools. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) permit payroll deduction plans for individual retirement accounts or annuities; and (2) require disclosures relating to lifetime income from pension plans and annuities.

small businesses add value employees act sic save act sic amends internal revenue code provisions relating employer established simple individual retirement accounts iras repeal certain restrictions rollovers simple iras allow employers elect terminate qualified salary reduction arrangements time year repeal enhanced penalty premature withdrawals simple iras plan years allow additional nonelective employer contributions simple iras establish automatic deferral iras allow transfer unused balances flexible spending arrangements qualified retirement eligible deferred compensation plan increase tax credit small employer pension plan startup costs allow multiple small employer retirement plans provide automatic employee contributions requires department_of_the_treasury develop implement outreach plan educate small businesses types benefits available retirement plans requires secretaries treasury labor develop recommendations small businesses improve retirement outcomes requires secretary treasury consultation secretary education develop age appropriate financial literacy curricula elementary secondary schools amends employee retirement income security act erisa permit payroll deduction plans individual retirement accounts annuities require disclosures relating lifetime income pension plans annuities


Summary: Wrongful Convictions Tax Relief Act of 2010 - Amends the Internal Revenue Code to allow wrongfully incarcerated individuals: (1) an exclusion from gross income for compensation received relating to their incarceration and for the first $50,000 of annual income received by such an individual after December 31, 2009; and (2) a refundable tax credit for 50% of payroll taxes on employment and self-employment income, up to $50,000 of such income. Limits the duration of such tax benefits to the lesser of 15 years or the number of years such an individual was incarcerated. Defines "wrongfully incarcerated individual" as an individual who was convicted of a criminal offense and was then pardoned or found not guilty of such offense because of innocence after serving all or a portion of a prison term. Disqualifies individuals with prior convictions punishable by more than one year of imprisonment.

wrongful convictions tax relief act amends internal revenue code allow wrongfully incarcerated individuals exclusion gross income compensation received relating incarceration annual income received individual december refundable tax credit payroll taxes employment self employment income income limits duration tax benefits lesser years number years individual incarcerated defines wrongfully incarcerated individual individual convicted criminal offense found guilty offense innocence serving portion prison term disqualifies individuals prior convictions punishable year imprisonment


Summary: Repeals: (1) provisions in the Economic Growth and Tax Relief Reconciliation Act of 2001 terminating tax reductions made by such Act after December 31, 2010; and (2) the provision in the Jobs and Growth Tax Relief Reconciliation Act of 2003 terminating after 2008 reductions in tax rates on dividends and net capital gain. Amends the Internal Revenue Code to make permanent: (1) the tax deductions for state and local sales taxes and for tuition and related expenses; and (2) the increased expensing allowance (i.e., $125,000) for depreciable business assets.

repeals provisions economic_growth_and_tax_relief_reconciliation_act terminating tax reductions act december provision jobs growth tax relief reconciliation act terminating reductions tax rates dividends net capital gain amends internal revenue code permanent tax deductions state local sales taxes tuition related expenses increased expensing allowance depreciable business assets


Summary: Responsible Homeowner Relief Act of 2010 - Amends the Internal Revenue Code to allow an individual taxpayer a deduction from gross income for loss from the sale or exchange of a principal residence in which such taxpayer resided for at least two years during the five-year period prior to the sale. Limits the aggregate amount of such deduction to $9,000, allowable in three annual installments of $3,000. Terminates such deduction after 2012. Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to waive any short sale waiting period requirement for certain mortgagors who refinance their mortgage in a short sale. Terminates such waiver authority on January 1, 2013.

responsible homeowner relief act amends internal revenue code allow individual taxpayer deduction gross income loss sale exchange principal residence taxpayer resided years year period prior sale limits aggregate deduction allowable annual installments terminates deduction requires federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac waive short sale waiting period requirement certain mortgagors refinance mortgage short sale terminates waiver authority january


Summary: 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.

amends internal revenue code exclude gross income contributions capital partnership set forth rules determining basis property money contributed capital partnership