Summary: Homeowners' Assistance Act of 2007 - Exempts any qualified mortgage relief distribution from the 10% additional tax imposed by the Internal Revenue Code on early distributions from qualified retirement plans. Provides that the aggregate amount of distributions received by an individual which may be treated as qualified mortgage relief distributions for any taxable year shall not exceed the excess (if any) of $25,000, over the aggregate amounts treated as qualified mortgage delinquency relief distributions received by such individual for all prior taxable years. Defines such distributions as those made from an eligible retirement plan between the enactment of this Act and January 1, 2010, if: (1) the distribution is made during any 90-day period beginning on the date of any increase in the interest rate applicable to the acquisition indebtedness of the taxpayer's principal residence; and (2) taxpayer's adjusted gross income for the taxable year of such distribution does not exceed $114,000 ($166,000 in the case of a joint return).

homeowners assistance act exempts qualified mortgage relief distribution additional tax imposed internal_revenue_code early distributions qualified retirement plans provides aggregate distributions received individual treated qualified mortgage relief distributions taxable year shall exceed excess aggregate amounts treated qualified mortgage delinquency relief distributions received individual prior taxable years defines distributions eligible retirement plan enactment act january distribution day period beginning date increase interest rate applicable acquisition indebtedness taxpayer principal residence taxpayer adjusted gross income taxable year distribution exceed case joint return


Summary: Savings Account for Every American Act of 2007 - Allows employees and self-employed individuals with a social security number to elect to participate in a S.A.F.E. account. Defines such an account as a trust created exclusively for the benefit of an individual or his or her beneficiaries. Requires: (1) employers of electing employees to establish a payroll deduction program to make employee contributions (6.2% of wages) to such accounts; and (2) employer matching contributions after a participating employee has maintained an account for 15 years. Imposes penalties on employers who fail to make required payroll deductions or pay deducted wages to S.A.F.E. accounts. Directs the Office of Personnel Management (OPM) to study and report to the President and Congress on extending S.A.F.E. accounts to federal civilian and military employees. Amends the Internal Revenue Code to exempt S.A.F.E. accounts from income taxation. Allows a tax deduction from gross income for cash contributions to such an account. Includes distributions from such an account in employee gross income, with specified exceptions for distributions after age 59 1/2 or death, purchase of certain insurance contracts, and rollovers.Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act and the Internal Revenue Code to exempt S.A.F.E. account participants from social security taxes and exclude such participants from old age, survivors and disability insurance coverage.

savings account american act allows employees self employed individuals social security number elect participate account defines account trust created exclusively benefit individual beneficiaries requires employers electing employees establish payroll deduction program employee contributions wages accounts employer matching contributions participating employee maintained account years imposes penalties employers fail required payroll deductions pay deducted wages accounts directs study report president congress extending accounts federal civilian military employees amends internal revenue code exempt accounts income taxation allows tax deduction gross income cash contributions account includes distributions account employee gross income specified exceptions distributions age death purchase certain insurance contracts rollovers amends title old age survivors disability insurance social security act internal revenue code exempt account participants social security taxes exclude participants old age survivors disability insurance coverage


Summary: Emergency Unemployment Compensation Act of 2008 - Provides for federal-state agreements during a period of rising unemployment under which a state will pay emergency unemployment compensation to individuals who: (1) have exhausted all rights to regular compensation under state or federal law for a benefit year (excluding any benefit year that ended before March 1, 2007); (2) have no rights to regular compensation or extended compensation with respect to a week under such law or any other state unemployment compensation law or to compensation under any other federal law; and (3) are not receiving compensation for such week under the unemployment compensation law of Canada. Requires federal payments to states to cover 100% of such temporary extended unemployment compensation payments. Provides for federal-state agreements for increased regular unemployment compensation payments to certain individuals. Amends the Social Security Act to provide for special transfers to state accounts in the Unemployment Trust Fund for unemployment compensation modernization incentive payments and for administration.

emergency unemployment compensation act provides federal state agreements period rising unemployment state pay emergency unemployment compensation individuals exhausted rights regular compensation state federal law benefit year excluding benefit year ended march rights regular compensation extended compensation respect week law state unemployment compensation law compensation federal law receiving compensation week unemployment compensation law canada requires federal payments states cover temporary extended unemployment compensation payments provides federal state agreements increased regular unemployment compensation payments certain individuals amends social security act provide special transfers state accounts unemployment_trust_fund unemployment compensation modernization incentive payments administration


Summary: Small Businesses Add Value for Employees Act of 2008 or the SAVE Act of 2008 - 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 withdrawal made from simple IRAs within the first two plan years; (4) allow additional nonelective employer contributions to simple IRAs; (5) establish automatic deferral IRAs; and (6) increase the tax credit for small employer pension plan startup costs.

small businesses add value employees act save act 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 withdrawal simple iras plan years allow additional nonelective employer contributions simple iras establish automatic deferral iras increase tax credit small employer pension plan startup costs


Summary: Giving Relief to Our Small Businesses Act - Amends the Immigration and Nationality Act to exempt certain returning H-2B aliens (temporary nonagricultural workers) from annual numerical limitations during FY2008 or FY2009.

giving relief small businesses act amends immigration nationality act exempt certain returning h-2b aliens temporary nonagricultural workers annual numerical limitations fy2008 fy2009


Summary: Amends the Internal Revenue Code to repeal the 6.2% federal unemployment tax rate for calendar years 1988 through 2008 and apply the 6.0% rate.

amends internal revenue code repeal federal unemployment tax rate calendar years apply rate


Summary: Relief for America's Small and Seasonal Businesses Act - Amends the Immigration and Nationality Act to exempt certain returning H-2B aliens (temporary nonagricultural worker) from annual numerical limitations during FY2008.

relief america small seasonal businesses act amends immigration nationality act exempt certain returning h-2b aliens temporary nonagricultural worker annual numerical limitations fy2008


Summary: Women's Retirement Security Act of 2008 - Amends the Internal Revenue Code to: (1) require certain small employers who do not provide retirement plans for their employees to allow eligible employees to participate in a payroll deposit individual retirement account arrangement (automatic IRA); (2) expand eligibility for the tax credit for retirement savings contributions (saver's credit) and make such credit refundable; (3) allow certain part-time employees to participate in qualified cash or deferred arrangements; (4) allow the transfer of up to $500 of unused health plan benefits to qualified retirement plans; (5) treat wage replacement income (e.g., disability pay or unemployment compensation) as earned income for purposes of IRA contribution limits; (6) allow a limited tax exclusion for certain lifetime annuity payments and for qualified retirement planning services; (7) allow certain small employers a tax credit for contributions to employee pension plans; and (8) allow self-employed individuals to deduct pension plan contributions from their self-employment income.Sets forth special rules for: (1) preservation of retirement plan assets distributed under a qualified domestic relations order; (2) eligibility of surviving and divorced spouses for benefits under the Railroad Retirement Act; and (3) military retired pay subject to court orders in domestic relations proceedings. Authorizes the Secretary of the Treasury to make grants to qualified low-income taxpayer clinics to provide retirement savings counseling to low-income taxpayers.Requires the Commissioner of Social Security to prepare a financial reference handbook and a retirement readiness checklist for distribution to social security recipients.Amends the Internal Revenue Code to: (1) allow a tax deduction for long-term care insurance premiums; (2) allow a phased-in tax credit ($1,000 in 2008, increasing by $500 each year to $3,000 in 2012) for family caregivers of spouses and dependents who have long-term care needs; (3) apply certain consumer protection standards to long-term care insurance contracts; and (4) allow tax-free exchanges of such contracts.

women retirement security act amends internal revenue code require certain small employers provide retirement plans employees allow eligible employees participate payroll deposit individual retirement account arrangement automatic ira expand eligibility tax credit retirement savings contributions saver credit credit refundable allow certain time employees participate qualified cash deferred arrangements allow transfer unused health plan benefits qualified retirement plans treat wage replacement income disability pay unemployment compensation earned income purposes ira contribution limits allow limited tax exclusion certain lifetime annuity payments qualified retirement planning services allow certain small employers tax credit contributions employee pension plans allow self employed individuals deduct pension plan contributions self employment income sets forth special rules preservation retirement plan assets distributed qualified domestic relations order eligibility surviving divorced spouses benefits railroad retirement act military retired pay subject court orders domestic relations proceedings authorizes secretary treasury grants qualified low income taxpayer clinics provide retirement savings counseling low income taxpayers requires commissioner social_security prepare financial reference handbook retirement readiness checklist distribution social security recipients amends internal revenue code allow tax deduction long term care insurance premiums allow phased tax credit increasing year family caregivers spouses dependents long term care needs apply certain consumer protection standards long term care insurance contracts allow tax free exchanges contracts


Summary: Amends the Internal Revenue Code to make the 10% additional tax on early distributions from qualified retirement plans inapplicable to individuals who have attained the age of 50 and who have been receiving unemployment compensation for 12 consecutive weeks.

amends internal revenue code additional tax early distributions qualified retirement plans inapplicable individuals attained age receiving unemployment compensation consecutive weeks


Summary: IRA Assistance Act of 2008 - Amends the Internal Revenue Code to allow premature distributions from individual retirement accounts (other than Roth IRAs) without penalty to make hardship loans.

ira assistance act amends internal revenue code allow premature distributions individual retirement accounts roth iras penalty hardship loans


Summary: Overtime Restoration Act of 2008 - Amends the Internal Revenue Code to increase the earned income tax credit by a weekly overtime bonus for each week a taxpayer receives earned income for more than 40 hours of work.

overtime restoration act amends internal revenue code increase earned income tax credit weekly overtime bonus week taxpayer receives earned income hours work


Summary: Targeted Assistance to Restore Growth in Employment Throughout 2008 Act, or the TARGET Act - Provides for federal-state agreements under which a state will make targeted extended unemployment compensation payments, for any week of unemployment beginning in the individual's eligibility period, to individuals who: (1) have exhausted all rights to regular compensation under such state law; (2) have no rights to compensation (including both regular and extended compensation) with respect to a week under such law or any other state or federal unemployment compensation law (and are not paid or entitled to be paid such additional compensation); and (3) are not receiving compensation for such week under the unemployment compensation law of Canada. Declares that such period of eligibility shall consist of any week which begins between April 1, 2008, and March 31, 2009. Denies eligibility to an individual unless his or her benefit year ends on or after July 1, 2007. Specifies criteria for Tier-1, Tier-2, and Tier-3 periods of increasing unemployment in a state for purposes of calculating payments under this Act. Prescribes formulas for crediting amounts to recipient accounts for each period. Requires federal payments to states in the amount of specified percentages of the targeted extended unemployment compensation payments a state has paid to individuals. Sets such percentages with respect to a week at: (1) 50% for a Tier-1 period; (2) 75% for a Tier-2 period; and (3) 100% for a Tier-3 period. Provides for handling of fraud and overpayments of such compensation.

restore growth employment act target act provides federal state agreements state targeted extended unemployment compensation payments week unemployment beginning individual eligibility period individuals exhausted rights regular compensation state law rights compensation including regular extended compensation respect week law state federal unemployment compensation law paid entitled paid additional compensation receiving compensation week unemployment compensation law canada declares period eligibility shall consist week begins april march denies eligibility individual benefit year ends july specifies criteria tier-1 tier-2 tier-3 periods increasing unemployment state purposes calculating payments act prescribes formulas crediting amounts recipient accounts period requires federal payments states specified percentages targeted extended unemployment compensation payments state paid individuals sets percentages respect week tier-1 period tier-2 period tier-3 period provides handling fraud overpayments compensation


Summary: Emergency Extended Unemployment Compensation Act of 2008 - (Sec. 2) Authorizes a state to enter into an agreement with the Secretary of Labor under which the state agency will make emergency unemployment compensation payments to individuals who: (1) have exhausted all rights to regular compensation under state or federal law with respect to a benefit year ending on or after May 1, 2007; (2) have no rights to regular compensation or extended compensation with respect to a week under such law or any other state or federal unemployment compensation law; and (3) are not receiving compensation for such week under the unemployment compensation law of Canada. Authorizes a state's governor in an extended benefit period, if state law permits, to provide for the payment of emergency unemployment compensation before extended compensation to individuals who otherwise meet the requirements of this Act. Requires a state to require, as a condition of eligibility for such emergency unemployment compensation, that aliens who receive it be legally authorized to work in the United States. (Sec. 3) Requires such agreements to require states to establish an emergency unemployment compensation account for an applicant's benefit year. Prescribes a formula for crediting amounts to such accounts. Makes a special rule to augment the compensation amount if such an account is exhausted while the state is in an extended benefit period. Revises the definition of "extended benefit period" to include states with a total unemployment rate (TUR) of at least 6.0% and states with an insured unemployment rate (IUR) of at least 4.0% (regardless of certain other ordinary requirements). (Sec. 4) Requires federal payments to states that have entered into such agreements to cover 100% of emergency unemployment compensation payments. Prohibits such payments from being made to any state if it is entitled to reimbursement in respect of such compensation under any federal law other than this Act or federal law relating to unemployment compensation for federal employees and ex-servicemen. Denies a state entitlement to any reimbursement under the latter law if the state is entitled to reimbursement under this Act. (Sec. 5) Requires funds in the extended unemployment compensation account of the Unemployment Trust Fund to be used for payments to states having such agreements. Appropriates out of the employment security administration account of such Fund, without fiscal year limitation, the funds necessary to assist states in meeting the costs of administration of such agreements. Appropriates from the general fund of the Treasury, without fiscal year limitation, to the extended unemployment compensation account of the Unemployment Trust Fund such sums as the Secretary estimates are necessary to make payments for: (1) compensation payable to federal employees and ex-servicemen; and (2) compensation payable on the basis of certain services performed for nonprofit organizations or governmental entities. Declares that none of these appropriations shall be required to be repaid. (Sec. 6) Makes an individual ineligible for further emergency unemployment compensation, and subjects him or her to fines and imprisonment of up to five years, or both, if the individual knowingly has made, or caused another to make, a false statement or representation of a material fact, or knowingly has failed, or caused another to fail, to disclose a material fact, and as a result of such actions the individual has received such emergency unemployment compensation to which he or she was not entitled. Directs the state to require such an individual to repay the compensation to the state agency unless the state determines that: (1) the overpayment was without fault on the individual's part; and (2) such repayment would be contrary to equity and good conscience. (Sec. 8) Requires any agreement entered into under this Act to apply only to weeks of unemployment: (1) beginning after the agreement is entered into; and (2) ending on or before February 1, 2009.

emergency extended unemployment compensation act sec authorizes state enter agreement secretary labor state agency emergency unemployment compensation payments individuals exhausted rights regular compensation state federal law respect benefit year ending rights regular compensation extended compensation respect week law state federal unemployment compensation law receiving compensation week unemployment compensation law canada authorizes state governor extended benefit period state law permits provide payment emergency unemployment compensation extended compensation individuals meet requirements act requires state require condition eligibility emergency unemployment compensation aliens receive legally authorized work united_states sec requires agreements require states establish emergency unemployment compensation account applicant benefit year prescribes formula crediting amounts accounts makes special rule augment compensation account exhausted state extended benefit period revises definition extended benefit period include states total unemployment rate states insured unemployment rate regardless certain ordinary requirements sec requires federal payments states entered agreements cover emergency unemployment compensation payments prohibits payments state entitled reimbursement respect compensation federal law act federal law relating unemployment compensation federal employees denies state entitlement reimbursement law state entitled reimbursement act sec requires funds extended unemployment compensation account unemployment_trust_fund payments states having agreements appropriates employment security administration account fund fiscal year limitation funds necessary assist states meeting costs administration agreements appropriates general fund treasury fiscal year limitation extended unemployment compensation account unemployment_trust_fund sums secretary estimates necessary payments compensation payable federal employees compensation payable basis certain services performed nonprofit organizations governmental entities declares appropriations shall required repaid sec makes individual ineligible emergency unemployment compensation subjects fines imprisonment years individual knowingly caused false statement representation material fact knowingly failed caused fail disclose material fact result actions individual received emergency unemployment compensation entitled directs state require individual repay compensation state agency state determines overpayment fault individual repayment contrary equity good conscience sec requires agreement entered act apply weeks unemployment beginning agreement entered ending february


Summary: Employees Pension Security Act of 2008 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require assets of single-employer pension plans to be held in trust by joint boards of trustees. Requires plan sponsors and administrators to provide all material investment information in an accurate form to participants and beneficiaries. Authorizes the Secretary to assess civil penalties for violations of certain information requirements. Sets forth additional requirements for plan termination, to prevent abuse of the bankruptcy and termination process, including requirements relating to: (1) distress termination; (2) bankruptcy court decrees, and the right to intervene to challenge them; (3) consideration of alternatives by the Pension Benefit Guaranty Corporation (PBGC) and the plan sponsor; (4) PBGC efforts at consulting on alternatives with plan participants and their union representatives; and (5) notice of the right to challenge determinations relating to plan termination. Amends federal bankruptcy law to include, in a priority order for recovery of expenses and claims, allowed unsecured claims for benefit liabilities to participants and beneficiaries under a single-employer plan in connection with the plan termination, in excess of the benefits payable to them by the PBGC in connection with such termination.

pension security act amends employee retirement income security act erisa require assets single employer pension plans held trust joint boards trustees requires plan sponsors administrators provide material investment information accurate form participants beneficiaries authorizes secretary assess civil penalties violations certain information requirements sets forth additional requirements plan termination prevent abuse bankruptcy termination process including requirements relating distress termination bankruptcy court decrees right intervene challenge consideration alternatives pension_benefit_guaranty_corporation pbgc plan sponsor pbgc efforts consulting alternatives plan participants union representatives notice right challenge determinations relating plan termination amends federal bankruptcy law include priority order recovery expenses claims allowed unsecured claims benefit liabilities participants beneficiaries single employer plan connection plan termination excess benefits payable pbgc connection termination


Summary: Social Security Forever Act of 2008 - Amends the Internal Revenue Code to impose on employers, employees, and self-employed individuals an additional employment tax for wages in excess of the social security contribution and benefit base. Requires all Treasury securities to bear a facsimile of the signatures of the President and the Secretary of the Treasury.

amends internal revenue code impose employers employees self employed individuals additional employment tax wages excess social security contribution benefit base requires treasury securities bear facsimile signatures president secretary treasury


Summary: Amends the Internal Revenue Code to exempt a taxpayer from the 10% penalty on premature withdrawals from tax-exempt retirement plans if such taxpayer received a foreclosure notice relating to a mortgage on a principal residence and makes a withdrawal from a retirement account after July 31, 2007, and before January 1, 2011.

amends internal revenue code exempt taxpayer penalty premature withdrawals tax exempt retirement plans taxpayer received foreclosure notice relating mortgage principal residence makes withdrawal retirement account july january


Summary: Seasonal Workforce Assistance Act - Amends the Immigration and Nationality Act to exempt certain returning H-2B aliens (temporary nonagricultural worker) from annual numerical limitations.

seasonal workforce assistance act amends immigration nationality act exempt certain returning h-2b aliens temporary nonagricultural worker annual numerical limitations


Summary: Commuter Aid and Relief for Suburbs Act of 2008 or the CARS Act of 2008 - Amends the Internal Revenue Code to allow individual taxpayers a tax deduction for a specified percentage of the cost of commuting between their residence and place of employment.

commuter aid relief act cars act amends internal revenue code allow individual taxpayers tax deduction specified percentage cost commuting residence place employment


Summary: Family Fairness Act of 2008 - Amends the Family and Medical Leave Act of 1993 to make an employee eligible for coverage under such Act if that employee has been employed for at least 12 months by a covered employer with respect to whom such leave is requested. (Eliminates the requirement, under current law, that the employee have served at least 1,250 hours during the 12-month period before the leave request.)

family fairness act amends family medical leave act employee eligible coverage act employee employed months covered employer respect leave requested eliminates requirement current law employee served hours month period leave request


Summary: Amends the Employee Retirement Income Security Act of 1974 (ERISA) to exempt from ERISA preemption state tort actions to recover damages arising from an employee welfare benefit plan's failure to provide plan disability benefits in a timely manner.

amends employee retirement income security act erisa exempt erisa preemption state tort actions recover damages arising employee welfare benefit plan failure provide plan disability benefits timely manner


Summary: Pension Protection Act ERISA Amendments of 2008 - Makes technical corrections to the Pension Protection Act of 2006 and the Employee Retirement Income Security Act (ERISA) of 1974. Repeals certain requirements governing the termination date of a defined benefit pension plan of an employee in cases of an employer filing for bankruptcy. Requires the Pension Benefit Guaranty Corporation (PBGC), with regard to single-employer plan guaranteed benefits in the case of commercial airline pilots required by Federal Aviation Administration (FAA) regulation to retire before age 65, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at the required retirement age. Revises requirements to: (1) limit the amount a fiduciary may recover in actions against third parties (Pro-Rata Recovery) to enforce the terms of defined benefit plans on behalf of plan participants or beneficiaries; (2) prohibit the post-retirement reduction of retiree health benefits by group health plans; and (3) establish the Emergency Retiree Health Loan Guarantee Program. Modifies requirements with respect to: (1) crediting and termination of surcharges in connection with multiemployer pension plans in critical status upon adoption of rehabilitation plan; and (2) funding rules for multiemployer pension plans. Requires certain adjustments to determinations of the value of single-employer pension plan assets that are based on the averaging of fair market values (asset smoothing). Prohibits certain payments of benefits from single-employer pension plans that have an adjusted funding target attainment percentage of less than 80% for the year. Applies certain age discrimination safe harbor rules under ERISA and the Age Discrimination in Employment Act of 1967 to civil actions brought on or after April 25, 2007, alleging any age discrimination violation occurring before June 29, 2005, with respect to any benefit provided under the Young Women's Christian Association Pension Plan. Exempts transactions involving the sale of employer securities held in a pension plan account from certain fiduciary requirements under specified conditions. Revises requirements with respect to: (1) special funding rules for at-risk pension plans for employees offered early retirement in 2007; and (2) pension plan funding target determinations. Treats employees of certain cooperatives as affiliated service group employees for purposes of single employer pension plans. Revises requirements regarding: (1) parties in interest affected by the prohibited transaction exemption for block trading; and (2) the scope of the prohibited transaction exemption for electronic communication. Increases bonding requirements for fiduciaries of pension plans primarily invested in employer securities.

pension protection act erisa amendments makes technical corrections pension protection act employee retirement income security act erisa repeals certain requirements governing termination date defined benefit pension plan employee cases employer filing bankruptcy requires pension benefit guaranty corporation pbgc regard single employer plan guaranteed benefits case commercial airline pilots required federal_aviation_administration faa regulation retire age compute actuarial value monthly benefits form life annuity commencing required retirement age revises requirements limit fiduciary recover actions parties enforce terms defined benefit plans behalf plan participants beneficiaries prohibit post retirement reduction retiree health benefits group health plans establish modifies requirements respect crediting termination surcharges connection multiemployer pension plans critical status adoption rehabilitation plan funding rules multiemployer pension plans requires certain adjustments determinations value single employer pension plan assets based averaging fair market values asset prohibits certain payments benefits single employer pension plans adjusted funding target attainment percentage year applies certain age discrimination safe harbor rules erisa age discrimination employment act civil actions brought april alleging age discrimination violation occurring june respect benefit provided exempts transactions involving sale employer securities held pension plan account certain fiduciary requirements specified conditions revises requirements respect special funding rules risk pension plans employees offered early retirement pension plan funding target determinations treats employees certain cooperatives affiliated service group employees purposes single employer pension plans revises requirements parties interest affected prohibited transaction exemption block trading scope prohibited transaction exemption electronic communication increases bonding requirements fiduciaries pension plans primarily invested employer securities


Summary: Amends the Internal Revenue Code and the Pension Protection Act of 2006 to exempt certain long-standing, nonfunctionally-integrated fully-funded type III supporting organizations from requirements that: (1) impose a tax on their excess business holdings; and (2) oblige such organizations to make certain percentage payouts of income or assets to organizations they support (supported organizations). Specifies such an exempt long-standing, nonfunctionally-integrated fully-funded type III supporting organization as one: (1) that was established before January 1, 1970, but has not accepted any substantial contributions after December 31, 1970; (2) none of whose donors was alive on August 17, 2006; and (3) none of whose organization managers is a family member of any donor.

amends internal revenue code pension protection act exempt certain long standing integrated fully funded type iii supporting organizations requirements impose tax excess business holdings organizations certain percentage income assets organizations support supported organizations specifies exempt long standing integrated fully funded type iii supporting organization established january accepted substantial contributions december donors alive august organization managers family member donor


Summary: Climate Market, Auction, Trust & Trade Emissions Reduction System Act of 2008, or the Climate MATTERS Act of 2008 - Declares the purpose of this Act to establish a federal program to reduce US greenhouse gas (GHG) emissions substantially enough by 2050 to avert the catastrophic impacts of global climate change. Directs the Secretary of the Treasury to establish an international reserve GHG emission allowance program, whose allowance sales proceeds shall be used to mitigate the negative impacts of global climate change on disadvantaged communities in World Trade Organization (WTO) participant countries. Establishes the International Climate Change Commission to determine annually whether a WTO participant country has taken certain action to limit its GHG emissions. Amends the Internal Revenue Code to: (1) establish a system for issuing, auctioning, recording, and tracking GHG emission allowances; and (2) impose an excess emissions penalty on owners or operators of covered facilities that fail to submit one or more emission allowances to the Secretary for any year. Establishes a Carbon Market Efficiency Board to: (1) analyze information on the GHG emission allowance market; and (2) authorize the Secretary to carry out cost relief measures if the market poses a substantial harm to the U.S. economy. Provides for the distribution of emission allowances to owners and operators of fossil fuel-fired electric power generating facilities and of energy intensive manufacturing facilities. Establishes: (1) the Deficit Reduction Trust Fund; and (2) the Citizen Protection Trust Fund (CPTF). Directs the Secretary to administer a Climate Change Rebate Program. Provides for a healthy families fund. Sets forth allocations of specified CPTF account funds for: (1) investment in natural resource adaptation to impacts of climate change and ocean acidification; (2) owners and operators of covered facilities who take actions that result in verified GHG emission reductions; (3) states that comply with certain federal building energy standards; (4) states with GHG emission reduction programs exceeding federal GHG emission reduction targets; (5) reductions in GHG emissions from the agriculture and forestry sectors, including those from deforestation activities in foreign countries; and (6) states and load-serving entities that implement energy-efficiency programs. Requires distribution of certain funds for grants for fixed guideway transit and other specified alternative transportation projects. Requires the Administrator of the Environmental Protection Agency (EPA) to: (1) develop a federal greenhouse gas registry; (2) make certain GHG emission determinations for covered facilities; and (3) promulgate regulations that require that U.S. GHG emissions in uncovered sectors do not grow.

climate market climate matters act declares purpose act establish federal program reduce greenhouse gas ghg emissions substantially avert catastrophic impacts global climate change directs secretary treasury establish international reserve ghg emission allowance program allowance sales proceeds shall mitigate negative impacts global climate change disadvantaged communities world_trade_organization wto participant countries establishes determine annually wto participant country taken certain action limit ghg emissions amends internal revenue code establish system issuing auctioning recording tracking ghg emission allowances impose excess emissions penalty owners operators covered facilities fail submit emission allowances secretary year analyze information ghg emission allowance market authorize secretary carry cost relief measures market poses substantial harm economy provides distribution emission allowances owners operators fossil fuel fired electric power generating facilities energy intensive manufacturing facilities establishes deficit reduction trust fund directs secretary administer climate change rebate program provides healthy families fund sets forth allocations specified account funds investment natural resource adaptation impacts climate change ocean acidification owners operators covered facilities actions result verified ghg emission reductions states comply certain federal building energy standards states ghg emission reduction programs exceeding federal ghg emission reduction targets reductions ghg emissions agriculture forestry sectors including deforestation activities foreign countries states load serving entities implement energy efficiency programs requires distribution certain funds grants fixed guideway transit specified alternative transportation projects requires administrator environmental_protection_agency epa develop federal greenhouse gas registry certain ghg emission determinations covered facilities promulgate regulations require ghg emissions uncovered sectors grow


Summary: Pension Protection Technical Corrections Act of 2008 - Title I: Technical Corrections Related to the Pension Protection Act of 2006 - (Sec. 101) Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including: (1) the target normal cost of benefits; (2) specified implementation and effective dates for certain requirements; (3) one-participant retirement plans; (4) special age-related rules in accrued benefit requirements for applicable defined benefit plans; (5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and (6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes. (Sec. 110) Makes technical corrections to the Railroad Retirement Act of 1974 with respect to railroad retirement payments to persons not entitled to an annuity. Title II: Other Provisions - (Sec. 201) Requires that the value of assets for any ERISA plan under the averaging method be adjusted for expected earnings (in addition to contributions and distributions, as under current law). (Sec. 202) Modifies the interest rate assumption required with respect to certain small employer plans. (Sec. 203) Makes technical corrections to the Age Discrimination in Employment Act of 1967 with respect to special age-related rules for determination of the market rate of return in the calculation of interest credits in governmental defined benefit plans. (Sec. 204) Prescribes a special rule for exclusion from gross income of certain reimbursements from governmental plans for health care expenses of a deceased plan participant's beneficiary. (Sec. 205) Requires treatment as a qualified rollover contribution of any airline payment amount received by a qualified airline employee in an airline carrier bankruptcy which is transferred to a Roth IRA. (Sec. 206) Increases by $4 the penalties for failure to file partnership returns and S corporation returns.

title technical corrections related pension protection act sec makes technical corrections employee retirement income security act erisa internal_revenue_code conform pension_protection_act specified items including target normal cost benefits specified implementation effective dates certain requirements participant retirement plans special age related rules accrued benefit requirements applicable defined benefit plans inapplicability certain cases limitation income deductions tax purposes employer contributions defined contribution plans adjustments averaging determination value assets single employer defined benefit pension plans minimum funding purposes sec makes technical corrections railroad retirement act respect railroad retirement payments persons entitled annuity title provisions sec requires value assets erisa plan averaging method adjusted expected earnings addition contributions distributions current law sec modifies interest rate assumption required respect certain small employer plans sec makes technical corrections age discrimination employment act respect special age related rules determination market rate return calculation interest credits governmental defined benefit plans sec prescribes special rule exclusion gross income certain reimbursements governmental plans health care expenses deceased plan participant beneficiary sec requires treatment qualified rollover contribution airline payment received qualified airline employee airline carrier bankruptcy transferred roth ira sec increases penalties failure file partnership returns corporation returns


Summary: Amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of stock received from an employer in a qualified employee stock distribution not exceeding the lowest number of shares received by any employee in such distribution; and (2) any gain on such stock if held by such employee for not less than 10 years.

amends internal revenue code exclude gross income employee shares stock received employer qualified employee stock distribution exceeding lowest number shares received employee distribution gain stock held employee years


Summary: Amends the USEC Privatization Act with respect to certain actions in U.S. district court related to accrued, vested pension benefits of employees of an operating contractor of the United States Enrichment Corporation (USEC) at one or both of the two USEC gaseous diffusion plants following: (1) termination of or a change in contractor; and (2) consequent transfer of pension plan assets and liabilities. Authorizes specified active or retired participants (or beneficiaries) under the contractor's pension plan to bring an action against the Department of Energy in U.S. district court for relief, in the form of a one-time lump sum payment, in connection with such a transfer of plan assets and liabilities. Authorizes commencement of such an action on or before June 30, 2011. Waives U.S. sovereign immunity to any such an action.

amends usec privatization act respect certain actions district court related accrued vested pension benefits employees operating contractor usec usec gaseous diffusion plants following termination change contractor transfer pension plan assets liabilities authorizes specified active retired participants beneficiaries contractor pension plan bring action department_of_energy district court relief form time lump sum payment connection transfer plan assets liabilities authorizes commencement action june sovereign immunity action


Summary: Food Security Act of 2008 - Amends the Food and Nutrition Act of 2008 (the Food Stamp Act of 1977 as renamed by the Food, Conservation, and Energy Act of 2008) to increase to 12 months the amount of time certain work capable adults can receive supplemental nutrition assistance benefits (formerly, food stamp benefits). Revises the definition of "covered individual."

food security act amends food nutrition act food stamp act renamed energy act increase months time certain work capable adults receive supplemental nutrition assistance benefits food stamp benefits revises definition covered individual


Summary: Amends the Internal Revenue Code to: (1) prohibit tax-exempt employer pension or benefit plans from making a loan to any plan beneficiary through a revolving credit arrangement; and (2) limit to three the number of loans a plan can make to a plan participant or beneficiary without tax consequences.

amends internal revenue code prohibit tax exempt employer pension benefit plans making loan plan beneficiary revolving credit arrangement limit number loans plan plan participant beneficiary tax consequences


Summary: Worker Savings Account Act of 2008 - Amends the Internal Revenue Code to: (1) establish worker savings accounts to make payments to workers during periods of unemployment; (2) treat such accounts in the same manner as individual retirement accounts (IRAs) for tax purposes; (3) allow employer matching contributions to such accounts; (4) make a portion of the tax credit for contributions to retirement accounts (saver's credit) refundable; and (5) require increases in the saver's credit to be paid into a worker savings account.Provides that no provision of this Act shall be construed to diminish an employer's obligation to pay federal and state unemployment taxes or to reduce the amount of unemployment compensation to which a worker may be entitled.

amends internal revenue code establish worker savings accounts payments workers periods unemployment treat accounts manner individual retirement accounts iras tax purposes allow employer matching contributions accounts portion tax credit contributions retirement accounts saver credit refundable require increases saver credit paid worker savings account provides provision act shall construed diminish employer obligation pay federal state unemployment taxes reduce unemployment compensation worker entitled


Summary: Amends title I of the Employee Retirement Income Security Act of 1974 to allow for automatic enrollment into church pension plans.

amends title employee retirement income security act allow automatic enrollment church pension plans


Summary: Suspension of Federal Income Tax on Unemployment Benefits Act of 2008 - Amends the Internal Revenue Code to suspend, for taxable years beginning after December 31, 2007, and before January 1, 2010, the taxation of unemployment compensation.

benefits act amends internal revenue code suspend taxable years beginning december january taxation unemployment compensation


Summary: Unemployment Compensation Extension Act of 2008 - Amends the Supplemental Appropriations Act, 2008 to revise the formula for Tier-1 amounts a state credits to an applicant's emergency unemployment compensation account (EUCA) for a benefit year. Increases the figures in the formula (the lesser of which shall be the amount credited): (1) from 50% to 80% of the total amount of regular compensation (including dependents' allowances) payable to the individual during the benefit year; and (2) from 13 to 20 times the individual's average weekly benefit amount for the benefit year. Provides an additional Tier-2 period for deposits to an individual's EUCA, using the current formula, if, at the time that the amount established under this Act is exhausted, or at any time thereafter, the individual's state is in an extended benefit period. Prescribes a formula for determining if a state is in an extended benefit period. Allows the Tier-2 period augmentation to be applied to the individual's EUCA only once. Prohibits a Tier-2 augmentation to an individual's EUCA under this Act after March 31, 2009, if the EUCA is exhausted after such date. Extends the period of emergency unemployment compensation through August 27, 2009. Exempts weeks of unemployment between enactment of this Act and December 8, 2009, 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 of such state provides for payment (at any time or under any circumstances) of regular compensation to an individual for his first week of otherwise compensable unemployment. (Thus allows temporary federal matching for the first week of extended benefits for states with no waiting period.)

unemployment compensation extension act amends supplemental appropriations act revise formula tier-1 amounts state credits applicant emergency unemployment compensation account euca benefit year increases figures formula lesser shall credited total regular compensation including dependents allowances payable individual benefit year times individual average weekly benefit benefit year provides additional tier-2 period deposits individual euca current formula time established act exhausted time individual state extended benefit period prescribes formula determining state extended benefit period allows tier-2 period augmentation applied individual euca prohibits tier-2 augmentation individual euca act march euca exhausted date extends period emergency unemployment compensation august exempts weeks unemployment enactment act december prohibition federal-state_extended_unemployment_compensation_act federal matching payments state week individual eligibility period extended compensation sharable regular compensation paid state law state provides payment time circumstances regular compensation individual week compensable unemployment allows temporary federal matching week extended benefits states waiting period


Summary: Family Work Flexibility Act of 2008 - Amends the Internal Revenue Code to allow employers a business tax credit for the cost of teleworking equipment used by employees to telework and for expenses to maintain such equipment. Limits the dollar amount of such credit to the lesser of $500 for each teleworking employee or $50,000.

family work flexibility act amends internal revenue code allow employers business tax credit cost teleworking equipment employees telework expenses maintain equipment limits dollar credit lesser teleworking employee


Summary: Small Business Efficiency Act of 2008- Amends the Internal Revenue Code to treat professional employer organizations (PEOs), certified by the Internal Revenue Service (IRS), as employers for employment tax purposes (thus allowing such PEOs to pay wages and collect and remit payroll taxes on behalf of an employer). Sets forth IRS certification requirements for PEOs, including financial review and reporting requirements. Requires a PEO to post a bond (the greater of $50,000 or 5% of the organization's tax liability for the preceding calendar year not to exceed $1,000,000) to guarantee payment of employment taxes.

small business efficiency act amends_the_internal_revenue_code treat professional employer organizations peos certified internal_revenue_service irs employers employment tax purposes allowing peos pay wages collect remit payroll taxes behalf employer sets forth irs certification requirements peos including financial review reporting requirements requires peo post bond greater organization tax liability preceding calendar year exceed guarantee payment employment taxes


Summary: Entitles to a one-time lump sum payment any persons (affected participants) who: (1) retired from active employment at one of the gaseous diffusion plants of the U.S. Enrichment Corporation (USEC) on or before USEC's privatization date as vested participants in a pension plan maintained either by USEC's operating contractor or by a contractor employed before July 1, 1993, by the Department of Energy to operate a gaseous diffusion plant; or (2) are employed by USEC's operating contractor on or before the privatization date, and are vested participants in such a pension plan. Prescribes a formula for determination of the payment. Allows any affected participant to treat such payment as a rollover contribution to a regular individual retirement account (IRA) or a Roth IRA. Prescribes hearing and judicial review rights for any affected participant who may have been prejudiced by any decision with regard to such a payment.

entitles time lump sum payment persons affected participants retired active employment gaseous diffusion plants usec usec privatization date vested participants pension plan maintained usec operating contractor contractor employed july department_of_energy operate gaseous diffusion plant employed usec operating contractor privatization date vested participants pension plan prescribes formula determination payment allows affected participant treat payment rollover contribution regular individual retirement account ira roth ira prescribes hearing judicial review rights affected participant decision regard payment


Summary: Pension Protection Act IRC Amendments of 2008 - Makes technical corrections to various pension-related provisions of the Internal Revenue Code, including provisions relating to: (1) the interest rate assumption for applying pension plan benefit limitations; (2) minimum individual retirement account (IRA) distribution requirements; (3) employer-owned life insurance contracts; (4) the deductibility of contributions to defined benefit and contribution plans; (5) the treatment of distributions from governmental retirement plans for health and long-term care insurance for public safety officers; (6) safe harbor rules for combined pension plans; and (7) the inclusion of employee stock ownership plans (ESOPs) in combined pension plans.Directs the Secretary of the Treasury to issue guidance for allowing a nonspouse pension beneficiary to use a specified life expectancy rule.

pension protection act irc amendments makes technical corrections pension related provisions internal_revenue_code including provisions relating interest rate assumption applying pension plan benefit limitations minimum individual retirement account ira distribution requirements employer owned life insurance contracts deductibility contributions defined benefit contribution plans treatment distributions governmental retirement plans health long term care insurance public safety officers safe harbor rules combined pension plans inclusion employee stock ownership plans esops combined pension plans directs secretary treasury issue guidance allowing pension beneficiary use specified life expectancy rule


Summary: Temporary IRA Distribution Suspension Act of 2008 - Suspends for calendar 2008 and 2009 the beginning date for required distributions from certain individual retirement (IRA) plans.

temporary ira distribution suspension act suspends calendar beginning date required distributions certain individual retirement ira plans


Summary: Retirement Fairness and Emergency Relief Act of 2008 - Suspends for calendar 2008 and 2009 the beginning date for required distributions from certain individual retirement (IRA) plans. Waives the 10% additional tax (penalty) under the Internal Revenue Code for early distributions from qualified retirement plans in the case of a qualified financial hardship distribution to an individual during calendar 2008-2009 of up to $15,000 per taxable year, as determined by the Secretary of the Treasury (including a qualified foreclosure distribution).

retirement fairness emergency relief act suspends calendar beginning date required distributions certain individual retirement ira plans waives additional tax penalty internal revenue code early distributions qualified retirement plans case qualified financial hardship distribution individual calendar taxable year determined secretary treasury including qualified foreclosure distribution


Summary: Seniors' Investment Security Act of 2008 - Suspends for calendar 2008-2010 the minimum required distributions from certain individual retirement (IRA) plans.

seniors investment security act suspends calendar minimum required distributions certain individual retirement ira plans


Summary: Amends the Internal Revenue Code to increase from 70 1/2 to 75 the age at which beneficiaries of tax-exempt pension, profit-sharing, and stock bonus plans must begin taking distributions from such plans and including such distributions in gross income for income tax purposes.

amends internal revenue code increase age beneficiaries tax exempt pension profit sharing stock bonus plans begin taking distributions plans including distributions gross income income tax purposes


Summary: Amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of stock received from an employer in a qualified employee stock distribution not exceeding the lowest number of shares received by any employee in such distribution; (2) any gain on such stock if held by such employee for not less than 10 years, and (3) in the case of any qualified disposition of stock that meets such holding requirement, any gain on so much stock acquired during the 60-day period beginning on the date of such disposition as does not exceed the fair market value of the stock so disposed..

amends internal revenue code exclude gross income employee shares stock received employer qualified employee stock distribution exceeding lowest number shares received employee distribution gain stock held employee years case qualified disposition stock meets holding requirement gain stock acquired day period beginning date disposition exceed fair market value stock disposed


Summary: Financial Security in Retirement Act of 2008 - Suspends, for calendar 2008 and 2009, minimum distribution requirements for up to $300,000 of an individual's interest in all eligible defined contribution plans as of December 31, 2008.

retirement act calendar minimum distribution requirements individual interest eligible defined contribution plans december


Summary: Workforce Fairness and Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) repeal the inclusion of unemployment compensation in gross income; (2) allow tax-free distributions from retirement plans for unemployed individuals; (3) allow an exclusion from gross income for employee severance payments; and (4) increase the tax credit for the health insurance costs of individuals receiving trade adjustment assistance and certain pension payments.

workforce fairness tax relief act amends internal revenue code repeal inclusion unemployment compensation gross income allow tax free distributions retirement plans unemployed individuals allow exclusion gross income employee severance payments increase tax credit health insurance costs individuals receiving trade adjustment assistance certain pension payments


Summary: Retiree Relief Act of 2008 - Amends the Internal Revenue Code to suspend in 2008 and 2009 requirements for minimum distributions from tax-deferred retirement plans. Permits taxpayers who have already received a distribution between January 1, 2008, and the enactment of this Act to recontribute such distribution to their retirement plans by December 31, 2009.

retiree relief act amends internal revenue code suspend requirements minimum distributions tax deferred retirement plans permits taxpayers received distribution january enactment act recontribute distribution retirement plans december


Summary: Worker, Retiree, and Employer Recovery Act of 2008 - Title I: Technical Corrections Related to the Pension Protection Act of 2006 - Subtitle A: Technical Corrections Related to the Pension Protection Act of 2006 - (Sec. 101) Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including: (1) the target normal cost of benefits; (2) specified implementation and effective dates for certain requirements; (3) one-participant retirement plans; (4) special age-related rules in accrued benefit requirements for applicable defined benefit plans; (5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and (6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes.(Sec. 110) Makes technical corrections to the Railroad Retirement Act of 1974 with respect to railroad retirement payments to persons not entitled to an annuity.Subtitle B: Other Provisions - (Sec. 121) Requires that the value of assets for any ERISA plan under the averaging method be adjusted for expected earnings (in addition to contributions and distributions, as under current law).(Sec. 122) Modifies the interest rate assumption required with respect to certain small employer plans.(Sec. 123) Makes technical corrections to the Age Discrimination in Employment Act of 1967 to require treatment of a rate of return or a method of crediting interest as a market rate of return and a permissible method of crediting interest in special age-related rules for governmental defined benefit plans.(Sec. 124) Prescribes a special rule for exclusion from gross income of certain reimbursements from governmental plans for health care expenses of a deceased accident or health care plan participant's beneficiary.(Sec. 125) Requires treatment as a qualified rollover contribution of any airline payment amount received by a qualified airline employee in an airline carrier bankruptcy which is transferred to a Roth IRA within 180 days of receipt.(Sec. 126) Revises asset valuation rules for certain commercial airline benefit plans.(Sec. 127) Increases by $4 the penalties for failure to file partnership returns and S corporation returns.Title II: Pension Provisions Relating to Economic Crisis - (Sec. 201) Provides a waiver of minimum distribution requirements for certain retirement plans and accounts for 2009.(Sec. 202) Revises requirements for determining the shortfall amortization base for a single-employer defined benefit pension plan the value of whose plan assets exceeds the plan funding target for any plan year beginning after 2007 and before 2011.(Sec. 203) Modifies for FY2009 application of the limitation on benefit accruals for single-employer plans with severe funding shortfalls. Requires substituting the plan's adjusted funding target attainment percentage for the preceding plan year for the adjusted funding target attainment percentage for the new plan year, but only if the percentage for the preceding plan year is greater.(Sec. 204) Provides for delay of the designation of multiemployer benefit plans as endangered or critical during FY2009.(Sec. 205) Extends the funding improvement and rehabilitation periods for multiemployer benefit plans in endangered or critical status for FY2008 or FY2009.

worker retiree employer recovery act title technical corrections related pension protection act subtitle technical corrections related pension protection act sec makes technical corrections employee retirement income security act erisa internal_revenue_code conform pension_protection_act specified items including target normal cost benefits specified implementation effective dates certain requirements participant retirement plans special age related rules accrued benefit requirements applicable defined benefit plans inapplicability certain cases limitation income deductions tax purposes employer contributions defined contribution plans adjustments averaging determination value assets single employer defined benefit pension plans minimum funding makes technical corrections railroad retirement act respect railroad retirement payments persons entitled annuity subtitle provisions sec requires value assets erisa plan averaging method adjusted expected earnings addition contributions distributions current modifies interest rate assumption required respect certain small employer makes technical corrections age discrimination employment act require treatment rate return method crediting interest market rate return permissible method crediting interest special age related rules governmental defined benefit prescribes special rule exclusion gross income certain reimbursements governmental plans health care expenses deceased accident health care plan participant requires treatment qualified rollover contribution airline payment received qualified airline employee airline carrier bankruptcy transferred roth ira days revises asset valuation rules certain commercial airline benefit increases penalties failure file partnership returns corporation returns title pension provisions relating economic crisis sec provides waiver minimum distribution requirements certain retirement plans accounts revises requirements determining shortfall amortization base single employer defined benefit pension plan value plan assets exceeds plan funding target plan year beginning modifies fy2009 application limitation benefit accruals single employer plans severe funding shortfalls requires plan adjusted funding target attainment percentage preceding plan year adjusted funding target attainment percentage new plan year percentage preceding plan year provides delay designation multiemployer benefit plans endangered critical extends funding improvement rehabilitation periods multiemployer benefit plans endangered critical status fy2008 fy2009


Summary: Trade Adjustment Assistance Improvement Act of 2007 - Trade Adjustment Assistance Equity for Service Workers Act of 2007 - Amends the Trade Act of 1974 to allow the filing of a petition for certification of eligibility to apply for trade adjustment assistance by adversely affected: (1) workers in a service sector firm, its subdivision, or public agency; and (2) service sector firms. Authorizes the Secretary of Commerce to provide technical assistance to service industries adversely affected by import competition. Requires the Secretary of Labor to: (1) certify as eligible to apply for trade adjustment assistance adversely affected secondary workers in a service sector firm, its subdivision, or a public agency; and (2) upon the request of the President, the U.S. Trade Representative, or resolution of Congress, initiate an investigation to determine the eligibility for trade adjustment assistance for a group of workers or all workers in an occupation (effectively providing another method for petitioning for trade adjustment assistance). Provides for industry-wide certification of workers, including agricultural commodity producers, for trade adjustment assistance where bilateral or other safeguard provisions are invoked or antidumping or countervailing duties have been imposed. Establishes: (1) the Office of the Trade Adjustment Assistance Advisor; and (2) the Office of Trade Adjustment Assistance. Revises alternative trade adjustment assistance program eligibility requirements for older workers. Revises trade readjustment assistance eligibility requirements for adversely affected workers to extend job training enrollment deadlines and the provision of assistance during such training. Extends the trade adjustment assistance program through FY2012. Trade Adjustment Assistance Accountability Act - Requires the Secretary to collect necessary data regarding the trade adjustment assistance program. Makes fishermen who harvest wild stock eligible for trade adjustment assistance. Modifies trade adjustment assistance group eligibility requirements for agricultural commodity producers.

trade adjustment assistance improvement act workers act amends trade act allow filing petition certification eligibility apply trade adjustment assistance adversely affected workers service sector firm subdivision public agency service sector firms authorizes secretary commerce provide technical assistance service industries adversely affected import competition requires secretary labor certify eligible apply trade adjustment assistance adversely affected secondary workers service sector firm subdivision public agency request president resolution congress initiate investigation determine eligibility trade adjustment assistance group workers workers occupation effectively providing method petitioning trade adjustment assistance provides industry wide certification workers including agricultural commodity producers trade adjustment assistance bilateral safeguard provisions antidumping countervailing duties imposed establishes revises alternative trade adjustment assistance program eligibility requirements older workers revises trade readjustment assistance eligibility requirements adversely affected workers extend job training enrollment deadlines provision assistance training extends trade adjustment assistance program fy2012 trade adjustment assistance accountability act requires secretary collect necessary data trade adjustment assistance program makes fishermen harvest wild stock eligible trade adjustment assistance modifies trade adjustment assistance group eligibility requirements agricultural commodity producers


Summary: Amends the Pension Protection Act of 2006 to make technical corrections to special funding rules applicable to pension plans sponsored by commercial passenger airlines to provide for plans with plan years beginning on the first day of the month.

amends pension protection act technical corrections special funding rules applicable pension plans sponsored commercial passenger airlines provide plans plan years beginning day month


Summary: Amends the Pension Protection Act of 2006 to require commercial passenger airline pension plan sponsors electing not to utilitze the alternative funding schedule to use an interest rate of 8.25% in determining the funding target for each of the 10 plan years (rather than the segmented interest rates calculated on the basis of the corporate bond yield curve).

amends pension protection act require commercial passenger airline pension plan sponsors electing alternative funding schedule use interest rate determining funding target plan years interest rates calculated basis corporate bond yield


Summary: Bicycle Commuters Benefits Act of 2007 - Amends the Internal Revenue Code to include a bicycle commuting allowance as a qualified transportation fringe benefit, excludable from gross income.

bicycle commuters benefits act amends internal revenue code include bicycle commuting allowance qualified transportation fringe benefit excludable gross income


Summary: College Textbook Affordability Act of 2007 - Requires publishers informing teachers at institutions of higher education about textbooks or supplements in their subject areas to include written information concerning: (1) the price the publisher would charge the bookstore associated with such institution for such items; (2) any history of revisions for such items; and (3) whether such items are available in other formats, including paperback and unbound, and the price the publisher would charge the bookstore for items in those formats. Requires a publisher that sells a textbook and any accompanying supplement as a single bundled item also to sell them separately and unbundled. Directs federally-assisted institutions of higher education to include on printed or internet course schedules the International Standard Book Number (ISBN) and retail price for each required or recommended textbook or supplement for listed courses. Requires such institutions to provide sellers of textbooks (other than publishers) that meet their requirements with: (1) their course schedules for the subsequent academic period; (2) the ISBN for each textbook or supplement required or recommended for each course; and (3) the number of students enrolled, and the maximum enrollment, in each course.

college textbook affordability act requires publishers informing teachers institutions higher education textbooks supplements subject areas include written information concerning price publisher charge associated institution items history revisions items items available formats including price publisher charge items formats requires publisher sells textbook accompanying supplement single bundled item sell separately directs federally assisted institutions higher education include printed internet course schedules international standard book number retail price required recommended textbook supplement listed courses requires institutions provide sellers textbooks publishers meet requirements course schedules subsequent academic period textbook supplement required recommended course number students enrolled maximum enrollment course


Summary: Save Our Small and Seasonal Businesses Act of 2007 - Amends the Immigration and Nationality Act to extend through October 1, 2012, the annual cap exemption for returning H-2B aliens (temporary nonagricultural worker).

save_our_small seasonal businesses act amends immigration nationality act extend october annual cap exemption returning h-2b aliens temporary nonagricultural worker


Summary: Workforce Health Improvement Program Act of 2007 - Amends the Internal Revenue Code to exclude from the gross income of employees: (1) the value of any on-premises employer-provided athletic facility; and (2) fees, dues, or membership expenses paid to an athletic or fitness facility by an employer for its employees, but not exceeding $900 per employee per year.Allows employers a tax deduction for fees, dues, or membership expenses paid to an athletic or fitness facility. Limits the amount of such deduction to $900 per employee per year.

workforce_health_improvement_program_act amends internal revenue code exclude gross income employees value premises employer provided athletic facility fees dues membership expenses paid athletic fitness facility employer employees exceeding employee year allows employers tax deduction fees dues membership expenses paid athletic fitness facility limits deduction employee year


Summary: Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance.Authorizes the Secretary of Housing and Urban Development to award grants in FY2008-FY2010, on a competitive basis, to nonprofit housing organizations or local governments for certain costs, including operating costs and technical assistance costs, of employer-assisted housing programs. Requires the Secretary to establish a national clearinghouse, including a website, to provide information about employer-assisted housing programs to federal, state, and local governments and other interested entities. Directs the Comptroller General to conduct a national evaluation of employer-assisted housing programs and provide to the Secretary an interim report by January 1, 2011, and final report by December 31, 2012.

internal revenue code allow employers business tax credit percent qualified housing expenses paid benefit employees defines qualified housing expenses include homeownership assistance rental assistance limits credit lesser percent employee home purchase price rental assistance excludes employee gross income value employer paid housing assistance authorizes secretary housing_and_urban_development award grants fy2008 fy2010 competitive basis nonprofit housing organizations local governments certain costs including operating costs technical assistance costs employer assisted housing programs requires secretary establish national clearinghouse including website provide information employer assisted housing programs federal state local governments interested entities directs comptroller general conduct national evaluation employer assisted housing programs provide secretary interim report january final report december


Summary: Automatic IRA Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not offer qualified retirement plans or arrangements to their employees to allow eligible employees to participate in a payroll deposit individual retirement account (IRA) arrangement (automatic IRAs); (2) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing a payroll deposit IRA arrangement; and (3) treat automatic IRAs as individual retirement accounts (and as Roth IRAs) for income tax purposes. Establishes in the executive branch the TSP II Board to establish policies and procedures relating to payroll deposit IRA arrangements.

automatic ira act amends internal revenue code require certain small employers offer qualified retirement plans arrangements employees allow eligible employees participate payroll deposit individual retirement account ira arrangement automatic iras allow employers employees tax credit costs associated establishing payroll deposit ira arrangement treat automatic iras individual retirement accounts roth iras income tax purposes establishes executive branch establish policies procedures relating payroll deposit ira arrangements


Summary: Young Women's Christian Association Pension Clarification Act of 2007 - Applies certain age discrimination safe harbor rules under the Employee Retirement Income Security Act of 1974 (ERISA) and the Age Discrimination in Employment Act of 1967 to civil actions brought on or after April 25, 2007, alleging any age discrimination violation occurring before June 29, 2005, with respect to any benefit provided under the Young Women's Christian Association Pension Plan.

young women applies certain age discrimination safe harbor rules employee retirement income security act erisa age discrimination employment act civil actions brought april alleging age discrimination violation occurring june respect benefit provided


Summary: Pension Benefit Guaranty Corporation Pilots Equitable Treatment Act - Amends the Employee Retirement Income Security Act of 1974 (ERISA), with regard to both single-employer and multiemployer plan guaranteed benefits, to require the Pension Benefit Guaranty Corporation, in the case of commercial airline pilots required by Federal Aviation Administration regulation to retire before age 65, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at the required retirement age.

act amends employee retirement income security act erisa regard single employer multiemployer plan guaranteed benefits require pension_benefit_guaranty_corporation case commercial airline pilots required federal_aviation_administration regulation retire age compute actuarial value monthly benefits form life annuity commencing required retirement age


Summary: Women's Retirement Security Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not provide retirement plans for their employees to allow eligible employees to participate in a payroll deposit individual retirement account arrangement (automatic IRA); (2) expand eligibility for the tax credit for retirement savings contributions (saver's credit) and make such credit refundable; (3) allow certain part-time employees to participate in qualified cash or deferred arrangements; (4) allow the transfer of up to $500 of unused health plan benefits to qualified retirement plans; (5) treat wage replacement income (e.g., disability pay or unemployment compensation) as earned income for purposes of IRA contribution limits; (6) allow a limited tax exclusion for certain lifetime annuity payments and for qualified retirement planning services; (7) allow certain small employers a tax credit for contributions to employee pension plans; and (8) allow self-employed individuals to deduct pension plan contributions from their self-employment income.Sets forth special rules for: (1) preservation of retirement plan assets distributed under a qualified domestic relations order; (2) eligibility of surviving and divorced spouses for benefits under the Railroad Retirement Act; and (3) military retired pay subject to court orders in domestic relations proceedings. Authorizes the Secretary of the Treasury to make grants to qualified low-income taxpayer clinics to provide retirement savings counseling to low-income taxpayers.Requires the Commissioner of Social Security to prepare a financial reference handbook and a retirement readiness checklist for distribution to social security recipients.

women retirement security act amends internal revenue code require certain small employers provide retirement plans employees allow eligible employees participate payroll deposit individual retirement account arrangement automatic ira expand eligibility tax credit retirement savings contributions saver credit credit refundable allow certain time employees participate qualified cash deferred arrangements allow transfer unused health plan benefits qualified retirement plans treat wage replacement income disability pay unemployment compensation earned income purposes ira contribution limits allow limited tax exclusion certain lifetime annuity payments qualified retirement planning services allow certain small employers tax credit contributions employee pension plans allow self employed individuals deduct pension plan contributions self employment income sets forth special rules preservation retirement plan assets distributed qualified domestic relations order eligibility surviving divorced spouses benefits railroad retirement act military retired pay subject court orders domestic relations proceedings authorizes secretary treasury grants qualified low income taxpayer clinics provide retirement savings counseling low income taxpayers requires commissioner social_security prepare financial reference handbook retirement readiness checklist distribution social security recipients


Summary: Employee Stock Ownership Plan Promotion and Improvement Act of 2007 - Amends the Internal Revenue Code to: (1) exempt certain distributions, including dividends, by S corporations to an employee stock ownership plan (ESOP) from the penalty tax for premature employee benefit plan withdrawals; (2) exempt deductions for ESOP dividends from corporate alternative minimum tax adjustments based on adjusted earnings and profits; (3) allow deferral of the recognition of gain for certain sales to ESOPs sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; (5) modify certain ESOP stock ownership rules; and (6) allow a de minimis exception from pension plan investment diversification requirements for ESOP accounts with balances of $2,500 or less.

employee stock ownership plan promotion improvement act amends internal revenue code exempt certain distributions including dividends corporations employee stock ownership plan esop penalty tax premature employee benefit plan withdrawals exempt deductions esop dividends corporate alternative minimum tax adjustments based adjusted earnings profits allow deferral recognition gain certain sales esops sponsored domestic corporation including corporations allow reinvestment esop stock proceeds eligible nonrecognition gain certain mutual funds modify certain esop stock ownership rules allow minimis exception pension plan investment diversification requirements esop accounts balances


Summary: Worker Empowerment Act - Amends the Social Security Act to require each state to implement a reemployment adjustment assistance program that provides payment of 50% of the amount by which the wages received by an individual at the time of his or her separation from employment exceeds (if at all) the wages received by such individual from reemployment. Amends the Internal Revenue Code (relating to employment taxes) to impose a wage insurance contribution excise tax on every employer. Establishes a Wage Insurance Trust Fund in the Treasury, to which the equivalent of any such taxes received shall be appropriated to carry out this Act.

worker empowerment act amends social security act require state implement reemployment adjustment assistance program provides payment wages received individual time separation employment exceeds wages received individual reemployment amends internal revenue code relating employment taxes impose wage insurance contribution excise tax employer treasury equivalent taxes received shall appropriated carry act


Summary: Options for Investors through United States Certified Coins Act of 2007 - Amends the Internal Revenue Code to permit holders of individual retirement accounts (IRAs) or individually-directed pension plans to invest in coins that: (1) are certified by an independent, third-party grading service; (2) are, or were at any time, legal tender in the United States; and (3) are traded on a nationally recognized electronic coin trading network or listed by an independent coin wholesale reporting service. Permits trustees of IRAs or individually-directed pension plans that invest in coins or bullion to hold an indicia of ownership for such coins or bullion in lieu of physical possession under certain circumstances.

united states certified coins act amends internal revenue code permit holders individual retirement accounts iras individually directed pension plans invest coins certified independent party grading service time legal tender united_states traded nationally recognized electronic coin trading network listed independent coin wholesale reporting service permits trustees iras individually directed pension plans invest coins bullion hold indicia ownership coins bullion lieu physical possession certain circumstances


Summary: Child Labor Protection Act of 2007 - Amends the Fair Labor Standards Act of 1938 to increase civil penalties for violations of: (1) child labor requirements and prohibitions; and (2) minimum wage and maximum hours requirements. Establishes new employer minumum and maximum penalties: (1) for each employee who was the subject of a child labor violation; (2) for each such violation that causes the death or serious injury of any employee under age 18; and (3) where such violation is a repeated or willful violation. Establishes a civil penalty for each such violation that causes the death or serious injury of any employee under age 18. Defines "serious injury" as permanent: (1) loss or substantial impairment of one of the senses (sight, hearing, taste, smell, tactile sensation); (2) loss or substantial impairment of the function of a bodily member, organ, or mental faculty, including the loss of all or part of an arm, leg, foot, hand or other body part; or (3) paralysis or substantial impairment that causes loss of movement or mobility of an arm, leg, foot, hand or other body part. Increases the civil penalty for any repeated or willful violation of specified minimum wage or maximum hours requirements of such Act. Establishes criminal penalties for child labor violations.

child labor protection act amends fair labor standards act increase civil penalties violations child labor requirements prohibitions minimum wage maximum hours requirements establishes new employer maximum penalties employee subject child labor violation violation causes death injury employee age violation repeated willful violation establishes civil penalty violation causes death injury employee age defines injury permanent loss substantial impairment sight hearing loss substantial impairment function bodily member organ mental faculty including loss arm leg foot hand body paralysis substantial impairment causes loss movement mobility arm leg foot hand body increases civil penalty repeated willful violation specified minimum wage maximum hours requirements act establishes criminal penalties child labor violations


Summary: Family Leave Insurance Act of 2007 - Directs the Secretary of Labor to establish a Family and Medical Leave Insurance Program, mandatory for certain covered employers. Entitles eligible employees to Program benefits that include specified percentages of their daily earnings for eight workweeks of leave under the Family and Medical Leave Act of 1993 or other authority during any 12-month period. Authorizes any employer, with the Secretary's approval, to establish a voluntary plan meeting specified criteria. Specifies prohibited acts by an employer, and penalties for violations. Requires the Director of the Office of Personnel Management (OPM) to establish a Civil Service Family and Medical Leave Insurance Program with the same Program benefits for certain federal agency employees. Amends the Internal Revenue Code to impose a family and medical leave premium on every individual and every employer to finance a Family and Medical Leave Trust Fund in the Treasury for Program benefits. Exempts from such premium: (1) employers or self-employers with voluntary plans approved by the Secretary as equivalent or better than the Program; and (2) small employers who have elected not to participate in it.

directs secretary labor establish family medical leave insurance program mandatory certain covered employers entitles eligible employees program benefits include specified percentages daily earnings workweeks leave family medical leave act authority month period authorizes employer secretary approval establish voluntary plan meeting specified criteria specifies prohibited acts employer penalties violations requires director establish program benefits certain federal agency employees amends internal revenue code impose family medical leave premium individual employer finance treasury program benefits exempts premium employers self employers voluntary plans approved secretary equivalent better program small employers elected participate


Summary: Restoring Pension Promises to Workers Act - Amends the Internal Revenue Code to require the inclusion in gross income of all income previously deferred under a nonqualified deferred compensation plan if an employer maintaining such a plan fails to meet certain participation, vesting, and minimum benefit requirements. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to: (1) deny ERISA pension plan administrators the right to recover overpayments made to plan participants and beneficiaries in cases of hardship or insignificant amounts; (2) impose a three-year limitation period for bringing any action to recover an overpayment; (3) prohibit the elimination of accrued pension plan benefits during corporate mergers and acquisitions; and (4) establish in the Department of Labor an Office of Pension Participant Advocacy to protect pension plan participants.Amends federal employee personnel provisions to: (1) entitle former spouses of federal employees who die before establishing a valid claim for an annuity to 55% of such deferred annuity or a lump-sum payment; (2) permit divorced spouses of federal employees to collect court-awarded retirement benefits when such employees are first eligible to retire (currently, only available at the time the employee actually retires); (3) entitle certain former spouses of retired federal employees divorced prior to September 14, 1978, to a survivor annuity; and (4) give priority to a surviving spouse of a federal employee in the distribution of balances in a Thrift Savings account, unless such spouse consents to the designation of another beneficiary.

workers act amends internal revenue code require inclusion gross income income previously deferred nonqualified deferred compensation plan employer maintaining plan fails meet certain participation vesting minimum benefit requirements amends employee retirement income security act erisa deny erisa pension plan administrators right recover overpayments plan participants beneficiaries cases hardship amounts impose year limitation period bringing action recover overpayment prohibit elimination accrued pension plan benefits corporate mergers acquisitions establish advocacy protect pension plan participants amends federal employee personnel provisions entitle spouses federal employees die establishing valid claim annuity deferred annuity lump sum payment permit divorced spouses federal employees collect court awarded retirement benefits employees eligible retire currently available time employee actually retires entitle certain spouses retired federal employees divorced prior september survivor annuity priority surviving spouse federal employee distribution balances account spouse consents designation beneficiary


Summary: Healthy Workforce Act of 2007 - Amends the Internal Revenue Code to allow employers a 50% tax credit for the costs of providing employees with a qualified wellness program. Defines "qualified wellness program" as a program that is certified by the Secretary of Health and Human Services and that consists of a health awareness and education component, a behavioral change component, and a supportive environment component. Terminates such credit after 2017. Requires the Secretary of the Treasury to institute an outreach program to inform businesses about the availability of such wellness program tax credit.

amends internal revenue code allow employers tax credit costs providing employees qualified wellness program defines qualified wellness program program certified secretary health_and_human_services consists health awareness education component behavioral change component supportive environment component terminates credit requires secretary treasury institute outreach program inform businesses availability wellness program tax credit


Summary: Amends the Public Health Service Act to require the Director of the Centers for Disease Control and Prevention (CDC) to: (1) conduct an educational campaign on employer-based wellness programs; (2) develop an annual awards program for employers to encourage the development of creative and effective solutions to help employees maintain or improve their health; (3) enter into contracts with entities to provide employers with technical assistance in evaluating wellness programs; and (4) conduct a national worksite health policies and programs study to assess employer-based health policies and programs. Requires the Secretary of Health and Human Services to expand the Behavioral Risk Factor Surveillance System to include a workforce component to enable employers, researchers, and health officials to: (1) assess employee health risks; (2) identify emerging problems associated with general employee health; (3) prevent disease within the employee population; and (4) improve employer-based health programs and policies. Requires the Secretary, acting through the Director, to award grants for research demonstration projects to study the effect of new worksite-based health interventions and models. Directs the Secretary to carry out activities to implement guidelines or recommendations resulting from such projects.

amends public_health_service_act require director centers_for_disease_control_and_prevention cdc conduct educational campaign employer based wellness programs develop annual awards program employers encourage development creative effective solutions help employees maintain improve health enter contracts entities provide employers technical assistance evaluating wellness programs conduct national worksite health policies programs study assess employer based health policies programs requires secretary health_and_human_services expand include workforce component enable employers researchers health officials assess employee health risks identify emerging problems associated general employee health prevent disease employee population improve employer based health programs policies requires secretary acting director award grants research demonstration projects study effect new worksite based health interventions models directs secretary carry activities implement guidelines recommendations resulting projects


Summary: Long-Term Care Act of 2007 - Amends the Internal Revenue Code to allow an exclusion from gross income of distributions from individual retirement accounts and other employee benefit plans used to pay long-term care insurance premiums.

amends internal revenue code allow exclusion gross income distributions individual retirement accounts employee benefit plans pay long term care insurance premiums


Summary: Unemployment Insurance Modernization Act - Amends the Social Security Act to require the Secretary of Labor to make unemployment compensation modernization incentive payments in FY2008-FY2012 by certain transfers from the federal unemployment account to the accounts of the states in the Unemployment Trust Fund. Prescribes a formula for determining the maximum allowable incentive payments. Specifies requirements state law must meet for the state to qualify for such a payment. Limits the use of transferred amounts to the payment of cash unemployment benefits to individuals. Requires the Secretary of the Treasury to reserve specified funds out of the federal unemployment account for such incentive payments. Amends the Internal Revenue Code to extend through FY2013 the Federal Unemployment Tax Act (FUTA) excise tax imposed on every employer.

unemployment insurance modernization act amends social security act require secretary labor unemployment compensation modernization incentive payments fy2008 fy2012 certain transfers federal unemployment account accounts states unemployment_trust_fund prescribes formula determining maximum allowable incentive payments specifies requirements state law meet state qualify payment limits use transferred amounts payment cash unemployment benefits individuals requires secretary treasury reserve specified funds federal unemployment account incentive payments amends internal revenue code extend fy2013 federal unemployment tax act futa excise tax imposed employer