Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Jobs for America Act - Division I: Ways and Means - Title I: Save American Workers - Save American Workers Act of 2014 - (Sec. 102) Amends the Internal Revenue Code to redefine "full-time employee," for purposes of the mandate requiring employers to provide health care coverage for their employees, as an employee who is employed on average at least 40 hours of service a week (currently, at least 30 hours of service a week).

Title II: Hire More Heroes - Hire More Heroes Act of 2014 - (Sec. 202) Amends the Internal Revenue Code to permit an employer, for purposes of determining whether such employer is an applicable large employer and thus required to provide health care coverage to its employees under the Patient Protection and Affordable Care Act, to exclude employees who have coverage under a health care program administered by the Department of Defense (DOD), including TRICARE, or the Department of Veterans Affairs (VA).

Title III: American Research and Competitiveness - American Research and Competitiveness Act of 2014 - (Sec. 302) Amends the Internal Revenue Code, with respect to the tax credit for research expenses, to: (1) make the rate of such credit equal to the sum of 20% of so much of the qualified research expenses and payments as exceeds 50% of the expenses and payments for the three preceding taxable years and 20% of the amounts paid to any energy research consortium for energy research; and (2) make such credit, as revised by this Act, permanent.

(Sec. 303) Prohibits the budgetary effects of this Title from being entered on any PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.

Title IV: America's Small Business Tax Relief - America's Small Business Tax Relief Act of 2014 - (Sec. 402) Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $500,000 expensing allowance for such property, (2) the increased $2,000,000 threshold amount for such property over which the amount of the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property). Allows an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014. Makes air conditioning and heating units eligible for the expensing allowance. Allows an annual inflation adjustment for taxable years beginning after 2014 to the increased expensing amounts.

(Sec. 403) Prohibits the budgetary effects of this Title from being entered on any PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.

Title V: S Corporation Permanent Tax Relief - S Corporation Permanent Tax Relief Act of 2014 - (Sec. 502) Amends the Internal Revenue Code, with respect to the taxation of S corporations, to make permanent: (1) the reduction of the period (from 10 years to 5 years) during which the built-in gains of such corporations are subject to tax, and (2) the rule requiring an adjustment to the basis of a shareholder's stock in an S corporation that makes tax deductible contributions of appreciated property.

(Sec. 504) Prohibits the budgetary effects of this Title from being entered on any PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.

Title VI: Bonus Depreciation Modified and Made Permanent - (Sec. 601) Amends the Internal Revenue Code to: (1) make permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property (i.e., property which has a recovery period of 20 years or less and is computer software, water utility property, or qualified leasehold or retail improvement property); (2) make permanent the election to increase the alternative minimum tax credit limitation in lieu of bonus depreciation; and (3) allow an additional depreciation allowance for a tree or vine bearing fruits or nuts, in the taxable year in which the tree or vine is planted or grafted to a plant in the ordinary course of the taxpayer's farming business.

(Sec. 602) Prohibits the budgetary effects of this Title from being entered on any PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.

Title VII: Repeal of Medical Device Excise Tax - (Sec. 701) Repeals the excise tax on medical devices.

(Sec. 702) Prohibits the budgetary effects of this Title from being entered on any PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.

Division II: Financial Services - Title I: Small Business Capital Access and Job Preservation - Small Business Capital Access and Job Preservation Act - (Sec. 102) Amends the Investment Advisers Act of 1940 to exempt private equity fund investment advisers from statutory registration and reporting requirements, provided that each private equity fund has not borrowed and does not have outstanding a principal amount exceeding twice its invested capital commitments.

 Directs the Securities and Exchange Commission (SEC) to promulgate final rules that: (1) require such investment advisers to maintain records the SEC determines necessary may require, taking into account fund size, governance, investment strategy, and risk; and (2) define the term "private equity fund" for purposes of this Act.

Title II: Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification - Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2014 - (Sec. 202) Amends the Securities Exchange Act of 1934 to exempt from its registration requirements certain merger and acquisition brokers and associated persons.

Denies such registration exemption, however, to brokers who: (1) receive, hold, transmit, or have custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engage on behalf of an issuer in a public offering of securities that are either subject to mandatory registration, or with respect to which the issuer must file periodic information, documents, and reports.

 Prohibits this Act from being construed to limit any other authority of the SEC to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.

Division III: Oversight - Subdivision A: Unfunded Mandates Information and Transparency - Unfunded Mandates Information and Transparency Act of 2014 - (Sec. 103) Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO), at the request of Congress, to conduct studies on the costs for state, local, or tribal governments to comply with changes to conditions of federal assistance.

(Sec. 105) Expands the scope of reporting requirements related to federal mandates to include regulations imposed by independent regulatory agencies. Excludes the Board of Governors of the Federal Reserve System and the Federal Open Market Committee.

(Sec. 106) Amends the Unfunded Mandate Reform Act of 1995 to require the Office of Information and Regulatory Affairs (OIRA) instead of the Office of Management and Budget (OMB) to: (1) provide CBO with data and cost estimates for regulations implementing an Act containing a federal mandate; (2) certify that an agency has considered a reasonable number of regulatory alternatives and selected the least costly, most cost-effective, or least burdensome option that achieves the objectives of a rule; and (3) collect agency statements accompanying regulatory action and forward them to CBO.

(Sec. 107) Amends the Congressional Budget Act of 1974 to expand the point of order against legislation increasing the costs of federal intergovernmental mandates above the statutory threshold to include private sector mandates.

(Sec. 108) Amends the Unfunded Mandates Reform Act of 1995 to establish principles for agencies to use in assessing the effects of federal regulatory actions on state, local, and tribal governments and the private sector.

(Sec. 109) Expands the scope of agency statements accompanying significant regulatory actions to require a more detailed analysis of the effect on state, local, or tribal governments or the private sector.

(Sec. 110) Revises the process for agency consultations with state, local, and tribal governments about proposed regulations to include private sector input.

(Sec. 111) Requires OIRA to provide guidance and oversight so that each agency's regulations are consistent with the Unfunded Mandates Reform Act of 1995, other laws, and policies of other agencies.

(Sec. 112) Requires agencies to conduct a retrospective analysis of an existing federal regulation at the request of Congress.

(Sec. 113) Expands judicial review to include agency assessments of regulations and selection of the least costly or least burdensome regulatory alternative.

Subdivision B: Achieving Less Excess in Regulation and Requiring Transparency - Achieving Less Excess in Regulation and Requiring Transparency Act of 2014 or the ALERRT Act of 2014 - Title I: All Economic Regulations Are Transparent Act - All Economic Regulations are Transparent Act of 2014 or the ALERT Act of 2014 - (Sec. 102) Requires the head of each federal agency to submit a monthly report to the Administrator of OIRA for each rule such agency expects to propose or finalize during the following year. Sets forth the required content of such reports, including: (1) a summary of the nature of the rule, (2) the objectives of and legal basis for issuance of the rule, (3) the stage of the rulemaking as of the date of submission, and (4) whether the rule is subject to periodic review as a rule with a significant economic impact.

Requires each agency head to submit a monthly report for any rule expected to be finalized during the following year for which the agency has issued a general notice of proposed rulemaking. Requires such reports to include an approximate schedule for completing action on the rule and an estimate of its cost and economic effects.

Requires the Administrator to make such monthly reports publicly available on the Internet.

Requires the Administrator to publish in the Federal Register, not later than October 1 of each year: (1) information that the Administrator receives from each agency under this Act; (2) the number of rules and a list of each such rule that was proposed by each agency and each rule that was finalized by each agency; (3) the number of agency actions that repealed a rule, reduced the scope or cost of a rule, or accelerated the expiration date of a rule; (4) the total cost of all rules proposed or finalized; and (5) the number of rules for which an estimate of the cost of the rule was not available.

Requires the Administrator to make publicly available on the Internet, not later than October 1 of each year: (1) the analysis of the costs or benefits of each proposed or final rule issued by an agency for the previous year, (2) the docket number and regulation identifier number for each such rule, (3) the number of rules reviewed by OMB for the previous year, (4) the number of rules for which a review by the head of an agency was completed, (5) the number of rules submitted to the Comptroller General (GAO), and (6) the number of rules for which a resolution of disapproval was introduced in Congress.

Prohibits a rule from taking effect until the information required by this Act is posted on the Internet for not less than six months, unless the agency proposing the rule seeks an exemption under the Freedom of Information Act (FOIA) or the President determines by executive order that such rule is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement. Makes such requirement effective eight months after enactment of this Act.

Title II: Regulatory Accountability Act - Regulatory Accountability Act of 2014 - (Sec. 202) Defines "major rule" and "major guidance," for purposes of this Act, as a rule or guidance that is likely to impose: (1) an annual cost on the economy of $100 million or more, adjusted annually for inflation; (2) a major increase in costs or prices; (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S. enterprises to compete with foreign-based enterprises; or (4) significant impacts on multiple sectors of the economy. Defines "high-impact rule" as a rule that is likely to have an annual cost on the economy of $1 billion or more, adjusted annually for inflation. Defines "negative-impact on jobs and wages rule" to mean a rule that is likely to reduce employment or wages.

 (Sec. 203) Revises procedures for rulemaking under the Administrative Procedure Act (APA) to require a federal agency, in the rulemaking process, to make all preliminary and final factual determinations based on evidence and to consider: (1) the legal authority under which a rule may be proposed, (2) the specific nature and significance of the problem the agency may address with a rule, (3) whether existing rules have created or contributed to the problem the agency may address with a rule and whether such rules may be amended or rescinded, (4) any reasonable alternatives for a new rule, and (5) the potential costs and benefits associated with potential alternative rules.

Revises rulemaking notice requirements to require an agency to: (1) publish in the Federal Register advance notice of proposed rulemaking involving a major rule, a high-impact rule, a negative-impact on jobs and wages rule, or a rule that involves a novel legal or policy issue arising out of statutory mandates; (2) consult with the Administrator of OIRA before issuing a proposed rule and after the issuance of an advance notice of proposed rulemaking; (3) provide interested persons an opportunity to participate in the rulemaking process; (4) hold a hearing before the adoption of any high-impact rule; (5) expand requirements for the adoption of a final rule, including requiring that the agency adopt a rule only on the basis of the best evidence and at the least cost; and (6) grant any interested person the right to petition for the issuance, amendment, or repeal of a rule.

Requires the Administrator to issue guidelines to promote coordination, simplification, and harmonization of agency rules during the rulemaking process

Exempts from such revised procedures rulemaking that concerns monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.

(Sec. 204) Imposes new requirements for issuing any major guidance or guidance that involves a novel legal or policy issue arising out of statutory mandates. Authorizes the Administrator to issue guidelines for agencies in issuing major guidance or other guidance.

 (Sec. 205) Provides for electronic access to transcripts of testimony and exhibits and other papers filed in a rulemaking proceeding.

Requires the record of decision in a rulemaking proceeding to include information from a hearing under the Information Quality Act or information on a high-impact rule.

Requires an agency to grant a petition for a hearing in the case of a major rule, unless the agency reasonably determines that a hearing would not advance consideration of the rule or would unreasonably delay completion of the rulemaking. Exempts from this requirement rulemakings that concern monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.

 (Sec. 206) Provides that an agency's denial of an Information Quality Act petition, or a failure to grant or deny such petition within 90 days, is reviewable by a court as a final action. Allows immediate judicial review of interim rules issued without compliance with the notice requirements of this Act, other than in cases involving national security interests.

 (Sec. 207) Revises standards for the scope of judicial review of agency rulemaking to prohibit a court from deferring to an agency's: (1) interpretation of a rule if the agency did not comply with APA requirements, (2) determination of the costs and benefits or other economic or risk assessment if the agency failed to conform to guidelines on such determinations and assessments established by the Administrator, (3) determinations made in the adoption of an interim rule, or (4) guidance.

 (Sec. 208) Defines "substantial evidence" for purposes of evaluating agency adjudications and for rulemaking under APA as such relevant evidence as a reasonable mind might accept as adequate to support a conclusion in light of the record considered as a whole, taking into account whatever in the record fairly detracts from the weight of the evidence relied upon by the agency to support its decision.

Title III: Regulatory Flexibility Improvements Act - Regulatory Flexibility Improvements Act of 2014 - (Sec. 302) Amends the Regulatory Flexibility Act of 1980 (RFA) to: (1) revise the definition of "rule" under such Act to exclude a rule pertaining to the protection of the rights of and benefits for veterans or a rule of particular (and not general) applicability relating to rates, wages, and other financial indicators; and (2) define "economic impact" with respect to a proposed or final rule as any direct economic effect on small entities from such rule and any indirect economic effect on small entities that is reasonably foreseeable and that results from such rule. Includes tribal organizations within the definition of "small governmental jurisdictions" for purposes of such Act.

(Sec. 304) Requires initial and final regulatory flexibility analyses to: (1) describe alternatives to a proposed rule that minimize any adverse significant economic impact or that maximize the beneficial significant economic impact on small entities, and (2) include revisions or amendments to a land management plan developed by the Secretary of Agriculture or the Secretary of the Interior under specified Acts.

Expands the applicability of RFA to interpretive rules involving internal revenue laws that impose a recordkeeping requirement, without regard to whether such requirement is imposed by statute or regulation.

Revises the definition of "small organization" for purposes of RFA.

Requires each federal agency to include in its regulatory flexibility agenda a brief description of the sector of the North American Industrial Classification System that is affected by a proposed agency rule that is likely to have a significant economic impact on a substantial number of small entities.

 Requires a detailed statement in an initial regulatory flexibility analysis to include: (1) an estimate of the additional cumulative economic impact of the proposed rule on small entities, and (2) a description of any disproportionate economic impact on small entities or a specific class of such entities.

Requires an agency, in developing an initial and final regulatory flexibility analysis, to provide: (1) a quantifiable or numerical description of the effects of a proposed or final rule and alternatives to such rule, or (2) a more general descriptive statement and a detailed statement explaining why quantification is not practicable or reliable.

 (Sec. 305) Repeals provisions allowing a waiver or delay of the completion of an initial regulatory flexibility analysis. Requires the Chief Counsel for Advocacy of the Small Business Administration (SBA) to issue rules governing federal agency compliance with RFA requirements. Authorizes the Chief Counsel to modify or amend such rules, to intervene in agency adjudication relating to such rules, and to inform an agency of the impact of its rulemaking on small entities.

 (Sec. 306) Revises requirements for agency notification of the SBA Chief Counsel for Advocacy prior to the publication of any proposed rule. Requires agencies to provide the Chief Counsel with: (1) all materials prepared or utilized in making the proposed rule, and (2) information on the potential adverse and beneficial economic impacts of the proposed rule on small entities.

 (Sec. 307) Modifies requirements for the periodic review of agency rules affecting small entities to require publication of a plan for review and placement of such plan on the agency website not later than 180 days after the enactment of this Act.

 (Sec. 308) Provides for judicial review of an agency final rule for compliance with RFA requirements after publication of such rule.

 (Sec. 309) Amends the federal judicial code to grant exclusive jurisdiction to the U.S. Courts of Appeals to review all final rules promulgated by the SBA Chief Counsel for Advocacy governing agency compliance with RFA.

 (Sec. 310) Amends the Small Business Act to authorize the SBA Chief Counsel for Advocacy to specify detailed definitions or standards by which a business may be determined to be a small business (size standard) for purposes of all enactments other than the Small Business Act or the Small Business Investment Act of 1958 (for which only the Administrator is authorized to specify small business size standards). Allows a party seeking judicial review of a rule which that includes a definition or size standard approved by the Chief Counsel for Advocacy to join the Chief Counsel as a party in an action for such review.

 (Sec. 312) Amends the Small Business Regulatory Enforcement Fairness Act of 1996 to require federal agencies, in developing small entity compliance guides, to solicit input from affected small entities or associations of small entities.

 (Sec. 313) Requires the Comptroller General, not later than 90 days after the enactment of this Act, to complete and publish a study that examines whether the SBA Chief Counsel for Advocacy has the capacity and resources to carry out the duties of Chief Counsel under this Act.

Title IV: Sunshine for Regulatory Decrees and Settlements Act - Sunshine for Regulatory Decrees and Settlements Act of 2014 - (Sec. 402) Defines a "covered civil action" as a civil action seeking to compel agency action and alleging that an agency is unlawfully withholding or unreasonably delaying an agency action relating to a regulatory action that would affect the rights of: (1) private persons other than the person bringing the action; or (2) a state, local, or tribal government. Defines a "covered consent decree" and a "covered settlement agreement" as: (1) a consent decree or settlement agreement entered into in a covered civil action; and (2) any other consent decree or settlement agreement that requires agency action relating to a regulatory action affecting the rights of private persons other than the person bringing the action or a state, local, or tribal government.

(Sec. 403) Requires an agency against which a covered civil action is brought to publish the notice of intent to sue and the complaint in a readily accessible manner and to provide interested parties an opportunity to intervene and to conduct settlement negotiations through mediation.

Requires an agency seeking to enter a covered consent decree or settlement agreement to publish such decree or agreement in the Federal Register and online not later than 60 days before it is filed with the court. Provides for public comment and public hearings on a proposed decree or agreement.

Requires the Attorney General or an agency head, if an agency is litigating a matter independently, to certify to the court that the Attorney General or the agency head approves of any proposed covered consent decree or settlement agreement.

Requires each federal agency to submit to Congress an annual report that includes: (1) the number, identity, and content of covered civil actions brought against, and covered consent decrees or settlement agreements entered against or into by, the agency; (2) a description of the statutory basis for each such covered consent decree or settlement agreement; and (3) an award of attorney fees or costs in a civil action resolved by a covered consent decree or settlement agreement.

 (Sec. 404) Requires a court to grant de novo review to any motion filed by an agency to modify a previously-entered consent decree if the basis of such motion is that the terms of the decree are no longer fully in the public interest due to the agency's obligations to fulfill other duties or due to changed facts and circumstances.

(Sec. 405) Makes this Title applicable to: (1) any covered civil action filed on or after the enactment of this Title, and (2) any covered consent decree or settlement agreement proposed to a court on or after the enactment of this Title.

Division IV: Judiciary - Title I: Regulations From the Executive in Need of Scrutiny - Regulations From the Executive in Need of Scrutiny Act of 2014 - (Sec. 102) States that the purposes of this Act are to: (1) increase accountability for and transparency in the federal regulatory process by requiring Congress to approve all new major regulations, and (2) include in the definition of "major rule" any rule that implements or provides for the imposition or collection of a tax on carbon emissions. Defines "carbon tax" as a fee, levy, or price on: (1) emissions, including carbon dioxide emissions generated by the burning of coal, natural gas, or oil; or (2) coal, natural gas, or oil based on emissions, including carbon dioxide emissions, that would be generated through the fuel's combustion.

(Sec. 103) Revises provisions relating to congressional review of agency rulemaking to require a federal agency promulgating a rule to include in its report to Congress and to the Comptroller General: (1) a classification of the rule as a major or nonmajor rule; (2) a list of other regulatory actions taken by the agency or by any other federal agency that are intended to implement the same statutory provision or regulatory objective, as well as the individual and aggregate economic effects of those actions; and (3) a complete copy of any cost-benefit analysis of a rule, including an analysis of jobs added or lost, differentiating between public and private sector jobs.

Requires a joint resolution of approval of major rules to be enacted before such rules may take effect (currently, major rules take effect unless a joint resolution disapproving them is enacted). Provides that if a joint resolution of approval is not enacted by the end of 70 session days or legislative days, as applicable, after the agency proposing the rule submits its report on such rule to Congress, the major rule shall be deemed not to be approved and shall not take effect. Permits a major rule to take effect for one 90-calendar-day period without such approval if the President determines it is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement.

Sets forth the congressional approval procedure for major rules and the congressional disapproval procedure for nonmajor rules.

Requires the introduction of a joint resolution addressing a report classifying a rule as a major rule within three legislative days in the House of Representative and three session days in the Senate. Prohibits any amendments to such a joint resolution at any stage of the legislative process. Provides for expedited consideration of a joint resolution of approval and requires a vote on such resolution in the Senate within 15 session days after it is reported by the committee to which it was referred, or after such committee has been discharged from further consideration of the resolution.

Revises the definition of "major rule" to mean any rule that: (1) has resulted in or is likely to result in an annual effect on the economy of $50 million or more (currently, $100 million); (2) is made by the Administrator of the Environmental Protection Agency (EPA) and that would have a significant impact on a substantial number of agricultural entities; (3) implements or provides for the imposition or collection of a carbon tax; or (4) is made under the Patient Protection and Affordable Care Act.

Allows a court to review whether an agency has completed the necessary requirements under this Act for a rule to take effect. Limits the effect of a joint resolution of approval of a major rule.

Makes this Act inapplicable to rules that concern monetary policy proposed or implemented by the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.

(Sec. 104) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to provide that any congressional approval procedure set forth in this Act affecting budget authority, outlays, or receipts shall be assumed to be effective unless it is not approved in accordance with this Act.

(Sec. 105) Directs the Comptroller General to conduct and report on a study to determine how many rules and major rules were in effect as of the date of enactment of this Act and the total estimated economic cost imposed by all such rules.

Title II: Permanent Internet Tax Freedom - Permanent Internet Tax Freedom Act - Amends the Internet Tax Freedom Act to make permanent the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce.

Division V: Natural Resources - Subdivision A: Restoring Healthy Forests for Healthy Communities - Restoring Healthy Forests for Healthy Communities Act - Title I: Restoring the Commitment to Rural Counties and Schools - (Sec. 103) Directs the Department of Agriculture (USDA) to establish at least one Forest Reserve Revenue Area (Revenue Area) within each unit of the National Forest System (NFS) designated for sustainable forest management for the production of national forest materials (the sale of trees, portions of trees, or forest products from NFS lands) and forest reserve revenues.

States that the purpose of an Area is to provide a dependable source of 25% payments and economic activity for each beneficiary county containing NFS land that was eligible to receive payments through its state under the Secure Rural Schools and Community Self-Determination Act of 2000. (The U.S. Forest Service historically shares 25% of all timber revenues with rural counties containing National Forest land to compensate them for large amounts of federal land that cannot be taxed locally. Since the 2000 Act, states or counties can choose for those distribution amounts to be based on historic rather than current revenue.)

Requires USDA to determine the annual volume requirement (a volume of national forest materials at least 50% of the Revenue Area's sustained yield) for national forest materials from each Revenue Area. Defines "sustained yield" to mean the maximum annual growth potential of the forest calculated on the basis of the culmination of mean annual increment using cubic measurement.

Prohibits USDA from reducing the number of acres of NFS land in a Revenue Area once it has been established.

(Sec. 104) Instructs USDA to manage Revenue Areas in the manner necessary to achieve their annual volume requirement.

Sets forth provisions governing compliance with the National Environmental Policy Act of 1969 (NEPA) and the Endangered Species Act of 1973.

 Specifies procedures for administrative and judicial review of forest projects.

Permits USDA to allow use of all-terrain vehicles within Revenue Areas for the purpose of activities associated with the sale of national forest materials.

(Sec. 105) Requires forest reserve revenues to be used to make: (1) 25% payments to states for beneficiary counties, and (2) deposits into the Knutson-Vandenburg Fund and the salvage sale fund in contributions equal to the monies collected for those funds for projects conducted on NFS land.

(Sec. 106) Sets forth annual reporting requirements related to each Revenue Area.

Title II: Healthy Forest Management and Catastrophic Wildfire Prevention - (Sec. 203) Authorizes USDA, with respect to NFS land, and the Department of Interior, with respect to Bureau of Land Management (BLM) land, to implement a hazardous fuel reduction project (reducing or modifying living and dead vegetation to protect against the risk of wildfires) or forest health project in at-risk forests in a manner that focuses on specific fuels reduction activities.

(Sec. 204) Sets forth provisions governing compliance with NEPA.

Exempts such a project from judicial review or any federal court injunction if its primary purpose is the salvage of dead, damaged, or down timber resulting from wildfires occurring in 2013 or 2014.

(Sec. 205) Allows a state governor to designate high-risk areas of federal land in the state for purposes of addressing: (1) deteriorating forest health conditions due to the bark beetle epidemic or drought, with the resulting imminent risk of devastating wildfires; and (2) the future risk of insect infestations or disease outbreaks through preventative treatments to improve forest health conditions.

Prohibits the following federal land from being designated as a high-risk area: (1) a component of the National Wilderness Preservation System, (2) federal land on which the removal of vegetation is specifically prohibited by federal statute, and (3) federal land within a National Monument.

(Sec. 206) Allows a state to provide for the development of proposed hazardous fuel reduction projects or forest health projects for a designated high-risk area.

(Sec. 207) Bars USDA from conducting any prescribed fire (except as part of wildfire suppression activities) in the Mark Twain National Forest in Missouri under the Collaborative Forest Landscape Restoration Project until a report is submitted to Congress evaluating management practices for the Forest.

Title III: Oregon and California Railroad Grant Lands Trust, Conservation, and Jobs - O&C Trust, Conservation, and Jobs Act - Subtitle A: Trust, Conservation, and Jobs - Chapter 1: Creation and Terms of O&C Trust - (Sec. 311) Establishes the Oregon and California Railroad Grant Lands Trust to produce annual maximum sustained revenues in perpetuity for Trust counties by managing the timber resources on Trust lands.

Designates certain land in Oregon as O&C Trust lands.

(Sec. 312) Sets forth provisions establishing the legal treatment of O&C Trust lands.

 (Sec. 313) Authorizes the governor of Oregon to appoint the Board of Trustees for the Oregon and California Railroad Grant Lands Trust to administer the O&C Trust and O&C Trust lands.

(Sec. 314) Requires the Board to administer the O&C Trust lands in compliance with all federal and state laws in the same manner as those laws apply to private forest lands.

Specifies requirements for timber sale plans, stand rotation, competitive bidding, sale terms, riparian area management, pest and vegetation management, and fire protection.

(Sec. 315) Prescribes requirements for calculation and distribution of annual payments made to each O&C Trust county.

Directs the Board to generate a reserve fund to: (1) pay management and administrative expenses or capital improvement costs on O&C Trust lands, and (2) make payments to O&C Trust counties when regular payments to them are projected to be 90% or less of the previous year's payments.

 Directs the Board to use a portion of revenues generated from activity on the O&C Trust lands to establish a O&C Trust Conservation Fund.

(Sec. 316) Authorizes the Board to negotiate proposals for land exchanges with owners of lands adjacent to O&C Trust lands. Sets forth criteria for approval of the exchanges.

(Sec. 317) Requires the O&C Trust to pay $10 million to the U.S. Treasury for seven years after the transition period.

Chapter 2: Transfer of Certain Lands to Forest Service - (Sec. 321) Directs the Department of the Interior to transfer administrative jurisdiction over certain land in Oregon to USDA for inclusion in the NFS.

(Sec. 322) Sets forth provisions governing the management of land included in NFS.

 (Sec. 323) Authorizes USDA to conduct land exchanges involving the land included in NFS.

(Sec. 324) Requires USDA to appoint an Old Growth Review Panel to define old growth as it applies to land managed by the O&C trust or included in NFS in western Oregon.

Chapter 3: Transition - (Sec. 331) Provides for a three-year transition period and specifies the activities that should occur during the period.

(Sec. 332) Establishes the Board's borrowing authority.

(Sec. 333) Prescribes requirements for the treatment of existing contracts and the protection of valid existing rights and access to non-federal land.

(Sec. 335) Repeals a federal law relating to the Oregon and California Railroad Grant lands and Coos Bay Wagon Road Grant lands.

Subtitle B: Coos Bay Wagon Roads - (Sec. 341) Directs Interior to transfer management authority over the reconveyed Coos Bay Wagon Road Grant lands, with certain exceptions, and their surface resources to Coos County, Oregon.

(Sec. 342) Directs Interior to transfer administrative jurisdiction over certain Coos Bay Wagon Road Grant lands to USDA for inclusion in the NFS.

(Sec. 343) Permits Coos County to recommend to USDA and carry out land exchanges.

Subtitle C: Oregon Treasures - Chapter 1: Wilderness Areas - (Sec. 351) Designates approximately 30,520 acres of federal land in Oregon as the Devil's Staircase Wilderness for inclusion in the National Wilderness Preservation System.

(Sec. 352) Adds approximately 58,100 acres of federal land to the Wild Rogue Wilderness, a component of the National Wilderness Preservation System.

Chapter 2: Wild and Scenic River Designated and Related Protections - (Sec. 361) Amends the Wild and Scenic Rivers Act to designate specified segments of the Molalla River in Oregon as components of the National Wild and Scenic Rivers System to be administered by Interior as a recreational river.

(Sec. 363) Designates Franklin and Wasson Creeks in Oregon as wild rivers in the National Wild and Scenic Rivers System.

(Sec. 364) Designates specified segments of the Rogue River in Oregon as a component of the National Wild and Scenic Rivers System.

(Sec. 365) Withdraws the federal land within a quarter mile on each side of specified segments of the Rogue River from: (1) entry, appropriation, or disposal under the public land laws; (2) location, entry, and patent under the mining laws; or (3) disposition under laws pertaining to mineral and geothermal leasing or mineral materials.

Chapter 3: Additional Protections - (Sec. 371) Prohibits Interior or USDA from acquiring by condemnation any land or interest within the boundaries of the river segments or wilderness designated by this subtitle.

Requires landowner approval before including non-federal property within the boundaries of the river segments or wilderness designated by this subtitle.

(Sec. 375) Prohibits any national monument on specified land in Oregon without an Act of Congress.

Chapter 4: Effective Date - (Sec. 381) States that the effective date of this subtitle is October 1 of the second fiscal year of the transition period.

Subtitle D: Tribal Trust Lands - Part 1: Council Creek Land Conveyance - (Sec. 392) Holds in trust for the Cow Creek Band of Umpqua Tribe of Indians all interest of the United States in and to the approximately 17,519 acres of Council Creek land. Makes that land part of the Tribe's reservation.

(Sec. 394) Prohibits the export of unprocessed logs harvested from federal land conveyed to the Tribe.

Prohibits gaming on those lands.

Part 2: Oregon Coastal Land Conveyance - (Sec. 396) Holds in trust for the Confederated Tribes of Coos, Lower Umpqua, and Siuslaw Indians all right, title, and interest of the United States in and to approximately 14,804 acres of specified federal land. Makes that land part of the Tribes' reservation.

(Sec. 398) Prohibits the export of unprocessed logs harvested from federal land conveyed to the Tribe.

Prohibits gaming on those lands.

Title IV: Community Forest Management Demonstration - (Sec. 401) Directs USDA to establish the community forest demonstration program for local, sustainable forest management by counties and local governments.

(Sec. 402) Requires USDA to establish a community forest designation area consisting of NFS land.

(Sec. 403) Requires a community forest demonstration area for a state to be managed by an advisory committee appointed by the governor.

(Sec. 404) Directs an advisory committee to: (1) cooperate and consult with Indian tribes on management policies and practices for the area that may affect those tribes, and (2) consult with any applicable forest collaborative group.

Prohibits the export of unprocessed timber harvested from a community demonstration area as a condition on the sale of timber or other forest products from a community demonstration area.

(Sec. 405) Allows an advisory committee to retain funds generated from the area that are necessary to fund management, administration, restoration, operation and maintenance, improvement, repair, and related expenses.

Requires an advisory committee to distribute funds generated from the area to counties and local governments proportional to the amount of forest land it has.

(Sec. 406) Permits counties to use funds received under the Secure Rural Schools and Community Self-Determination Act of 2000 to provide initial funding for the management of community forest demonstration areas.

(Sec. 407) Requires an advisory committee to make payments to the U.S. Treasury based on revenue generated by management of the forest land.

(Sec. 408) Permits an advisory committee to terminate the area by a unanimous vote, subject to approval of the state governor.

Title V: Reauthorization and Amendment of Existing Authorities and Other Matters - (Sec. 501) Directs USDA to distribute to each beneficiary county during February 2015 a payment equal to the amount distributed to the county for FY2010 under the Secure Rural Schools and Community Self-Determination Act of 2000. Specifies a formula for making payments.

(Sec. 502) Restores the original method for calculating 25% payments (based on the prior year revenue) to counties as compensation for the large amount of forest service land that cannot be taxed rather than using an average of past years.

(Sec. 503) Authorizes the USDA for NFS land or Interior for BLM land to enter into a cooperative agreement or contract (including a sole source contract) with a state forester to provide forest, rangeland, and watershed restoration, management, and protection services.

(Sec. 504) Prohibits the use of funds made available to a beneficiary county or other political subdivision of a state under this Act to replace state funding sources for local schools, facilities, or educational purposes.

(Sec. 505) Defines "fire suppression" to include reforestation, site rehabilitation, salvage operations, and replanting occurring following fire damage on lands under the jurisdiction of USDA or Interior or following fire suppression efforts.

(Sec. 506) Bars the Forest Service from removing or otherwise eliminating any legally created road or trail unless there has been a specific decision, which included adequate and appropriate public involvement, to decommission that road or trail.

Subdivision B: National Strategic and Critical Minerals Production - National Strategic and Critical Minerals Production Act of 2014 - Title I: Development of Domestic Sources of Strategic and Critical Minerals - (Sec. 101) Deems a domestic mine that will provide strategic and critical minerals to be an "infrastructure project" as described in Presidential Order "Improving Performance of Federal Permitting and Review of Infrastructure Projects" dated March 22, 2012.

 (Sec. 102) Sets forth the responsibilities of the lead agency (federal, state, local, tribal, or Alaska Native Corporation) with responsibility for issuing a mineral exploration or mine permit with respect to project coordination, agency consultation, project proponents, contractors, and the status and scope of any environmental impact statement.

Requires the lead agency to determine that any action to approve an exploration or mine permit does not constitute a major federal action significantly affecting the quality of the human environment under NEPA if the procedural and substantive safeguards of the lead agency's permitting process alone, any applicable state permitting process alone, or a combination of the two processes together provide an adequate mechanism to ensure that environmental factors are taken into account.

 Requires the lead agency's project lead, upon request of a project proponent, to enter into an agreement with the project proponent and other cooperating agencies that sets time limits for each part of the permitting process.

Applies this Act to a mineral exploration or mine permit for which an application was submitted before enactment of this Act if the applicant so requests in writing. Requires the lead agency to begin implementing this Act with respect to such application within 30 days after receiving such request.

Requires the lead agency, with respect to strategic and critical minerals within a federally administered unit of NFS, to: (1) exempt from federal regulations governing Special Areas all areas of identified mineral resources in Land Use Designations (other than Non-Development Land Use Designations); (2) apply such exemption to all additional routes and areas that the agency finds necessary to facilitate the construction, operation, maintenance, and restoration of the areas of the identified mineral resources; and (3) continue to apply such exemptions after approval of the Minerals Plan of Operations for the unit.

 (Sec. 103) Declares that the priority of the lead agency is to maximize mineral resource development while mitigating environmental impacts, so that more of the mineral resource can be brought to the market place.

(Sec. 104) Prescribes the Federal Register notice process for mineral exploration and mining projects.

Title II: Judicial Review of Agency Actions Relating to Exploration and Mine Permits - (Sec. 202) Bars a civil action claiming legal wrong caused by an agency action unless it is filed by the end of the 60-day period beginning on the date of the final federal agency action to which it relates.

(Sec. 203) Authorizes the holder of a mineral exploration or mine permit to intervene as of right in any covered civil action by a person affecting rights or obligations of the permit holder under the permit.

 (Sec. 204) Requires the court to hear and determine any covered civil action as expeditiously as possible.

 (Sec. 205) Prohibits the court, in a covered civil action, from granting or approving prospective relief unless it finds that it is narrowly drawn, extends no further than necessary to correct the violation of a legal requirement, and is the least intrusive means necessary to correct such violation.

(Sec. 206) Declares inapplicable to such a civil action specified requirements of the Equal Access to Justice Act relating to award of costs and fees to a prevailing plaintiff.

Prohibits payment from the federal government for court costs of a party in such a civil action, including attorneys' fees and expenses.

Title III: Miscellaneous Provisions - (Sec. 301) Prohibits the construction of this Act as affecting any aspect of Secretarial Order 3324, issued by the Secretary of the Interior on December 3, 2012, regarding potash, oil, and gas leasing and development within the Designated Potash Area in Eddy and Lea Counties, New Mexico.

measure amended introduced summary expanded action occurred measure jobs america act division ways means title sec amends internal revenue code redefine time employee purposes mandate requiring employers provide health care coverage employees employee employed average hours service week currently hours service week title hire heroes hire heroes act sec amends internal revenue code permit employer purposes determining employer applicable large employer required provide health care coverage employees patient_protection affordable care act exclude employees coverage health care program administered department_of_defense dod including tricare department_of_veterans_affairs title iii sec amends internal revenue code respect tax credit research expenses rate credit equal sum qualified research expenses payments exceeds expenses payments preceding taxable years amounts paid energy research consortium energy research credit revised act permanent sec prohibits budgetary effects title entered paygo scorecard maintained pursuant statutory pay act title america small business tax relief america small business tax relief act sec amends internal revenue code respect expensing allowance depreciable business property permanent increased expensing allowance property increased threshold property expensing allowance reduced expensing computer software rules expensing qualified real property leasehold improvement restaurant retail improvement property allows inflation adjustment dollar amounts expensing allowance taxable years beginning makes air conditioning heating units eligible expensing allowance allows annual inflation adjustment taxable years beginning increased expensing amounts sec prohibits budgetary effects title entered paygo scorecard maintained pursuant statutory pay act title corporation permanent tax relief corporation permanent tax relief act sec amends internal revenue code respect taxation corporations permanent reduction period years years built gains corporations subject tax rule requiring adjustment basis shareholder stock corporation makes tax deductible contributions appreciated property sec prohibits budgetary effects title entered paygo scorecard maintained pursuant statutory pay act title bonus depreciation modified permanent sec amends internal revenue code permanent additional depreciation allowance bonus depreciation qualified property property recovery period years computer software water utility property qualified leasehold retail improvement property permanent election increase alternative minimum tax credit limitation lieu bonus depreciation allow additional depreciation allowance tree vine bearing fruits nuts taxable year tree vine planted plant ordinary course taxpayer farming business sec prohibits budgetary effects title entered paygo scorecard maintained pursuant statutory pay act title vii repeal medical device excise tax sec repeals excise tax medical devices sec prohibits budgetary effects title entered paygo scorecard maintained pursuant statutory pay act division small business capital access job preservation small business capital access job preservation act sec amends investment advisers act exempt private equity fund investment advisers statutory registration reporting requirements provided private equity fund borrowed outstanding principal exceeding twice invested capital commitments directs securities_and_exchange_commission sec promulgate final rules require investment advisers maintain records sec determines necessary require taking account fund size governance investment strategy risk define term private equity fund purposes act title small business mergers acquisitions sales acquisitions sales brokerage simplification act sec amends securities exchange act exempt registration requirements certain merger acquisition brokers associated persons denies registration exemption brokers receive hold transmit custody funds securities exchanged parties transfer ownership eligible privately held company engage behalf issuer public offering securities subject mandatory registration respect issuer file periodic information documents reports prohibits act construed limit authority sec exempt person class persons provision act including related rule regulation division iii oversight subdivision unfunded mandates information transparency act sec amends congressional_budget_act require congressional_budget_office cbo request congress conduct studies costs state local tribal governments comply changes conditions federal assistance sec expands scope reporting requirements related federal mandates include regulations imposed independent regulatory agencies excludes board_of_governors federal_reserve_system federal_open_market_committee sec amends unfunded mandate reform act require office_of_information_and_regulatory_affairs oira instead office_of_management_and_budget omb provide cbo data cost estimates regulations implementing act containing federal mandate certify agency considered reasonable number regulatory alternatives selected costly cost effective burdensome option achieves objectives rule collect agency statements accompanying regulatory action forward cbo sec amends congressional_budget_act expand point order legislation increasing costs federal intergovernmental mandates statutory threshold include private sector mandates sec amends unfunded mandates reform act establish principles agencies use assessing effects federal regulatory actions state local tribal governments private sector sec expands scope agency statements accompanying significant regulatory actions require detailed analysis effect state local tribal governments private sector sec revises process agency consultations state local tribal governments proposed regulations include private sector input sec requires oira provide guidance oversight agency regulations consistent unfunded mandates reform act laws policies agencies sec requires agencies conduct retrospective analysis existing federal regulation request congress sec expands judicial review include agency assessments regulations selection costly burdensome regulatory alternative subdivision achieving excess regulation requiring transparency achieving excess regulation requiring transparency act act title economic regulations transparent act economic regulations transparent act alert act sec requires head federal agency submit monthly report administrator oira rule agency expects propose finalize following year sets forth required content reports including summary nature rule objectives legal basis issuance rule stage rulemaking date submission rule subject periodic review rule significant economic impact requires agency head submit monthly report rule expected finalized following year agency issued general notice proposed rulemaking requires reports include approximate schedule completing action rule estimate cost economic effects requires administrator monthly reports publicly available internet requires administrator publish federal_register later october year information administrator receives agency act number rules list rule proposed agency rule finalized agency number agency actions repealed rule reduced scope cost rule accelerated expiration date rule total cost rules proposed finalized number rules estimate cost rule available requires administrator publicly available internet later october year analysis costs benefits proposed final rule issued agency previous year docket number regulation identifier number rule number rules reviewed omb previous year number rules review head agency completed number rules submitted comptroller_general gao number rules resolution disapproval introduced congress prohibits rule taking effect information required act posted internet months agency proposing rule seeks exemption freedom information act foia president determines executive order rule necessary imminent threat health safety emergency enforcement criminal laws national security implement international trade agreement makes requirement effective months enactment act title regulatory accountability act regulatory accountability act sec defines major rule major guidance purposes act rule guidance likely impose annual cost economy million adjusted annually inflation major increase costs prices significant adverse effects competition employment investment productivity innovation ability enterprises compete foreign based enterprises significant impacts multiple sectors economy defines high impact rule rule likely annual cost economy billion adjusted annually inflation defines negative impact jobs wages rule mean rule likely reduce employment wages sec revises procedures rulemaking administrative procedure act apa require federal agency rulemaking process preliminary final factual determinations based evidence consider legal authority rule proposed specific nature significance problem agency address rule existing rules created contributed problem agency address rule rules amended rescinded reasonable alternatives new rule potential costs benefits associated potential alternative rules revises rulemaking notice requirements require agency publish federal_register advance notice proposed rulemaking involving major rule high impact rule negative impact jobs wages rule rule involves novel legal policy issue arising statutory mandates consult administrator oira issuing proposed rule issuance advance notice proposed rulemaking provide interested persons opportunity participate rulemaking process hold hearing adoption high impact rule expand requirements adoption final rule including requiring agency adopt rule basis best evidence cost grant interested person right petition issuance amendment repeal rule requires administrator issue guidelines promote coordination simplification harmonization agency rules rulemaking process exempts revised procedures rulemaking concerns monetary policy proposed implemented board_of_governors federal_reserve_system federal_open_market_committee sec imposes new requirements issuing major guidance guidance involves novel legal policy issue arising statutory mandates authorizes administrator issue guidelines agencies issuing major guidance guidance sec provides electronic access transcripts testimony exhibits papers filed rulemaking proceeding requires record decision rulemaking proceeding include information hearing information quality act information high impact rule requires agency grant petition hearing case major rule agency reasonably determines hearing advance consideration rule unreasonably delay completion rulemaking exempts requirement rulemakings concern monetary policy proposed implemented board_of_governors federal_reserve_system federal_open_market_committee sec provides agency denial information quality act petition failure grant deny petition days reviewable court final action allows immediate judicial review interim rules issued compliance notice requirements act cases involving national security interests sec revises standards scope judicial review agency rulemaking prohibit court deferring agency interpretation rule agency comply apa requirements determination costs benefits economic risk assessment agency failed conform guidelines determinations assessments established administrator determinations adoption interim rule guidance sec defines substantial evidence purposes evaluating agency adjudications rulemaking apa relevant evidence reasonable mind accept adequate support conclusion light record considered taking account record fairly weight evidence relied agency support decision title iii regulatory flexibility improvements act regulatory flexibility improvements act sec amends regulatory flexibility act rfa revise definition rule act exclude rule pertaining protection rights benefits veterans rule particular general applicability relating rates wages financial indicators define economic impact respect proposed final rule direct economic effect small entities rule indirect economic effect small entities reasonably foreseeable results rule includes tribal organizations definition small governmental jurisdictions purposes act sec requires initial final regulatory flexibility analyses describe alternatives proposed rule minimize adverse significant economic impact maximize beneficial significant economic impact small entities include revisions amendments land management plan developed secretary agriculture secretary interior specified acts expands applicability rfa interpretive rules involving internal revenue laws impose recordkeeping requirement regard requirement imposed statute regulation revises definition small organization purposes rfa requires federal agency include regulatory flexibility agenda brief description sector north_american_industrial_classification_system affected proposed agency rule likely significant economic impact substantial number small entities requires detailed statement initial regulatory flexibility analysis include estimate additional cumulative economic impact proposed rule small entities description disproportionate economic impact small entities specific class entities requires agency developing initial final regulatory flexibility analysis provide quantifiable numerical description effects proposed final rule alternatives rule general descriptive statement detailed statement explaining quantification practicable reliable sec repeals provisions allowing waiver delay completion initial regulatory flexibility analysis requires chief counsel advocacy small_business_administration sba issue rules governing federal agency compliance rfa requirements authorizes chief counsel modify amend rules intervene agency adjudication relating rules inform agency impact rulemaking small entities sec revises requirements agency notification sba chief counsel advocacy prior publication proposed rule requires agencies provide chief counsel materials prepared utilized making proposed rule information potential adverse beneficial economic impacts proposed rule small entities sec modifies requirements periodic review agency rules affecting small entities require publication plan review placement plan agency website later days enactment act sec provides judicial review agency final rule compliance rfa requirements publication rule sec amends federal judicial code grant exclusive jurisdiction review final rules promulgated sba chief counsel advocacy governing agency compliance rfa sec amends small_business_act authorize sba chief counsel advocacy specify detailed definitions standards business determined small business size standard purposes enactments small business act small_business_investment_act administrator authorized specify small business size standards allows party seeking judicial review rule includes definition size standard approved chief counsel advocacy join chief counsel party action review sec amends small_business_regulatory_enforcement fairness act require federal agencies developing small entity compliance guides solicit input affected small entities associations small entities sec requires comptroller general later days enactment act complete publish study examines sba chief counsel advocacy capacity resources carry duties chief counsel act title sunshine regulatory decrees settlements act sunshine regulatory decrees settlements act sec defines covered civil action civil action seeking compel agency action alleging agency unlawfully withholding unreasonably delaying agency action relating regulatory action affect rights private persons person bringing action state local tribal government defines covered consent decree covered settlement agreement consent decree settlement agreement entered covered civil action consent decree settlement agreement requires agency action relating regulatory action affecting rights private persons person bringing action state local tribal government sec requires agency covered civil action brought publish notice intent sue complaint readily accessible manner provide interested parties opportunity intervene conduct settlement negotiations mediation requires agency seeking enter covered consent decree settlement agreement publish decree agreement federal_register online later days filed court provides public comment public hearings proposed decree agreement requires attorney general agency head agency litigating matter independently certify court attorney general agency head approves proposed covered consent decree settlement agreement requires federal agency submit congress annual report includes number identity content covered civil actions brought covered consent decrees settlement agreements entered agency description statutory basis covered consent decree settlement agreement award attorney fees costs civil action resolved covered consent decree settlement agreement sec requires court grant novo review motion filed agency modify previously entered consent decree basis motion terms decree longer fully public interest agency obligations fulfill duties changed facts circumstances sec makes title applicable covered civil action filed enactment title covered consent decree settlement agreement proposed court enactment title division judiciary title regulations executive need scrutiny regulations executive need scrutiny act sec states purposes act increase accountability transparency federal regulatory process requiring congress approve new major regulations include definition major rule rule implements provides imposition collection tax carbon emissions defines carbon tax fee levy price emissions including carbon dioxide emissions generated burning coal natural gas oil coal natural gas oil based emissions including carbon dioxide emissions generated fuel combustion sec revises provisions relating congressional review agency rulemaking require federal agency promulgating rule include report congress comptroller general classification rule major nonmajor rule list regulatory actions taken agency federal agency intended implement statutory provision regulatory objective individual aggregate economic effects actions complete copy cost benefit analysis rule including analysis jobs added lost public private sector jobs requires joint resolution approval major rules enacted rules effect currently major rules effect joint resolution disapproving enacted provides joint resolution approval enacted end session days legislative days applicable agency proposing rule submits report rule congress major rule shall deemed approved shall effect permits major rule effect calendar day period approval president determines necessary imminent threat health safety emergency enforcement criminal laws national security implement international trade agreement sets forth congressional approval procedure major rules congressional disapproval procedure nonmajor rules requires introduction joint resolution addressing report classifying rule major rule legislative days session days senate prohibits amendments joint resolution stage legislative process provides expedited consideration joint resolution approval requires vote resolution senate session days reported committee referred committee discharged consideration resolution revises definition major rule mean rule resulted likely result annual effect economy million currently million administrator environmental_protection_agency epa significant impact substantial number agricultural entities implements provides imposition collection carbon tax patient_protection affordable care act allows court review agency completed necessary requirements act rule effect limits effect joint resolution approval major rule makes act inapplicable rules concern monetary policy proposed implemented board_of_governors federal_reserve_system federal_open_market_committee sec amends balanced_budget emergency deficit control act provide congressional approval procedure set forth act affecting budget authority outlays receipts shall assumed effective approved accordance act sec directs comptroller general conduct report study determine rules major rules effect date enactment act total estimated economic cost imposed rules title permanent internet tax freedom permanent internet tax freedom act amends internet tax freedom act permanent ban state local taxation internet access multiple discriminatory taxes electronic commerce division natural resources subdivision restoring healthy forests healthy communities act title restoring commitment rural counties schools sec directs department_of_agriculture usda establish revenue area unit national_forest_system nfs designated sustainable forest management production national forest materials sale trees portions trees forest products nfs lands forest reserve revenues states purpose area provide dependable source payments economic activity beneficiary county containing nfs land eligible receive payments state secure rural schools community self determination act historically shares timber revenues rural counties containing national_forest land compensate large amounts federal land taxed locally act states counties choose distribution amounts based historic current revenue requires usda determine annual volume requirement volume national forest materials sustained yield national forest materials defines sustained yield mean maximum annual growth potential forest calculated basis mean annual increment cubic measurement prohibits usda reducing number acres nfs land established sec instructs usda manage revenue areas manner necessary achieve annual volume requirement sets forth provisions governing compliance national_environmental_policy_act nepa endangered species act specifies procedures administrative judicial review forest projects permits usda allow use terrain vehicles revenue areas purpose activities associated sale national forest materials sec requires forest reserve revenues payments states beneficiary counties deposits salvage sale fund contributions equal monies collected funds projects conducted nfs land sec sets forth annual reporting requirements related title catastrophic wildfire prevention sec authorizes usda respect nfs land department_of_interior respect bureau_of_land_management blm land implement hazardous fuel reduction project reducing modifying living dead vegetation protect risk wildfires forest health project risk forests manner focuses specific fuels reduction activities sec sets forth provisions governing compliance nepa exempts project judicial review federal court injunction primary purpose salvage dead damaged timber resulting wildfires occurring sec allows state governor designate high risk areas federal land state purposes addressing deteriorating forest health conditions bark beetle epidemic drought resulting imminent risk devastating wildfires future risk insect infestations disease outbreaks preventative treatments improve forest health conditions prohibits following federal land designated high risk area component national_wilderness_preservation_system federal land removal vegetation specifically prohibited federal statute federal land national monument sec allows state provide development proposed hazardous fuel reduction projects forest health projects designated high risk area sec bars usda conducting prescribed fire wildfire suppression activities missouri report submitted congress evaluating management practices forest title iii oregon california railroad grant lands trust conservation trust conservation creation terms trust sec establishes oregon california railroad grant lands trust produce annual maximum sustained revenues perpetuity trust counties managing timber resources trust lands designates certain land oregon lands sec sets forth provisions establishing legal treatment lands sec authorizes governor oregon appoint board_of_trustees oregon california railroad grant lands trust administer lands sec requires board administer lands compliance federal state laws manner laws apply private forest lands specifies requirements timber sale plans stand rotation competitive bidding sale terms riparian area management pest vegetation management fire protection sec prescribes requirements calculation distribution annual payments directs board generate reserve fund pay management administrative expenses capital improvement costs lands payments counties regular payments projected previous year payments directs board use portion revenues generated activity lands establish sec authorizes board negotiate proposals land exchanges owners lands adjacent lands sets forth criteria approval exchanges sec requires trust pay million seven years transition period chapter transfer certain lands forest service sec directs department_of_the_interior transfer administrative jurisdiction certain land oregon usda inclusion nfs sec sets forth provisions governing management land included nfs sec authorizes usda conduct land exchanges involving land included nfs sec requires usda appoint old growth review panel define old growth applies land managed trust included nfs western oregon chapter transition sec provides year transition period specifies activities occur period sec establishes board borrowing authority sec prescribes requirements treatment existing contracts protection valid existing rights access non federal land sec repeals federal law relating oregon california railroad grant lands coos bay wagon road grant lands subtitle coos bay wagon roads sec directs interior transfer management authority coos bay wagon road grant lands certain exceptions surface resources coos_county oregon sec directs interior transfer administrative jurisdiction certain coos bay wagon road grant lands usda inclusion nfs sec permits coos county recommend usda carry land exchanges subtitle oregon treasures chapter wilderness areas sec designates approximately acres federal land oregon inclusion national_wilderness_preservation_system sec adds approximately acres federal land component national_wilderness_preservation_system chapter wild scenic river designated related protections sec amends wild scenic rivers act designate specified segments oregon components national_wild_and_scenic_rivers_system administered interior recreational river sec designates franklin oregon wild rivers national_wild_and_scenic_rivers_system sec designates specified segments rogue_river oregon component national_wild_and_scenic_rivers_system sec withdraws federal land quarter mile specified segments rogue_river entry appropriation disposal public land laws location entry patent mining laws disposition laws pertaining mineral geothermal leasing mineral materials chapter prohibits interior usda acquiring condemnation land interest boundaries river segments wilderness designated subtitle requires landowner approval including non federal property boundaries river segments wilderness designated subtitle sec prohibits national monument specified land oregon act congress chapter effective date sec states effective date subtitle october second fiscal year transition period subtitle council creek land conveyance sec holds trust cow creek band umpqua_tribe indians interest united_states approximately acres council_creek land makes land tribe reservation sec prohibits export unprocessed logs harvested federal land conveyed tribe prohibits gaming lands holds trust confederated tribes coos lower umpqua siuslaw indians right title interest united_states approximately acres specified federal land makes land tribes reservation sec prohibits export unprocessed logs harvested federal land conveyed tribe prohibits gaming lands title sec directs usda establish community forest demonstration program local sustainable forest management counties local governments sec requires usda establish community forest designation area consisting nfs land sec requires community forest demonstration area state managed advisory committee appointed governor sec directs advisory committee cooperate consult indian tribes management policies practices area affect tribes consult applicable forest collaborative group prohibits export unprocessed timber harvested community demonstration area condition sale timber forest products community demonstration area sec allows advisory committee retain funds generated area necessary fund management administration restoration operation maintenance improvement repair related expenses requires advisory committee distribute funds generated area counties local governments proportional forest land sec permits counties use funds received secure rural schools community self determination act provide initial funding management community forest demonstration areas sec requires advisory committee payments treasury based revenue generated management forest land sec permits advisory committee terminate area unanimous vote subject approval state governor title reauthorization amendment existing authorities matters sec directs usda distribute beneficiary county february payment equal distributed county fy2010 secure rural schools community self determination act specifies formula making payments sec restores original method calculating payments based prior year revenue counties compensation large forest service land taxed average past years sec authorizes usda nfs land interior blm land enter cooperative agreement contract including sole source contract state forester provide forest rangeland watershed restoration management protection services sec prohibits use funds available beneficiary county political subdivision state act replace state funding sources local schools facilities educational purposes sec defines fire suppression include reforestation site rehabilitation salvage operations replanting occurring following fire damage lands jurisdiction usda interior following fire suppression efforts sec bars forest_service removing eliminating legally created road trail specific decision included adequate appropriate public involvement decommission road trail subdivision national strategic critical minerals production national strategic critical minerals production act title development domestic sources strategic critical minerals sec deems domestic provide strategic critical minerals infrastructure project described presidential order improving performance federal permitting review infrastructure projects dated march sec sets forth responsibilities lead agency federal state local tribal alaska_native_corporation responsibility issuing mineral exploration permit respect project coordination agency consultation project contractors status scope environmental impact statement requires lead agency determine action approve exploration permit constitute major federal action significantly affecting quality human environment nepa procedural substantive safeguards lead agency permitting process applicable state permitting process combination processes provide adequate mechanism ensure environmental factors taken account requires lead agency project lead request project proponent enter agreement project proponent cooperating agencies sets time limits permitting process applies act mineral exploration permit application submitted enactment act applicant requests writing requires lead agency begin implementing act respect application days receiving request requires lead agency respect strategic critical minerals federally administered unit nfs exempt federal regulations governing special areas areas identified mineral resources apply exemption additional routes areas agency finds necessary facilitate construction operation maintenance restoration areas identified mineral resources continue apply exemptions approval unit sec declares priority lead agency maximize mineral resource development mitigating environmental impacts mineral resource brought market place sec prescribes federal_register notice process mineral exploration mining projects title judicial review agency actions relating exploration permits sec bars civil action claiming legal wrong caused agency action filed end day period beginning date final federal agency action relates sec authorizes holder mineral exploration permit intervene right covered civil action person affecting rights obligations permit holder permit sec requires court hear determine covered civil action expeditiously possible sec prohibits court covered civil action granting approving prospective relief finds narrowly drawn extends necessary correct violation legal requirement intrusive means necessary correct violation sec declares inapplicable civil action specified requirements equal_access justice act relating award costs fees prevailing plaintiff prohibits payment federal government court costs party civil action including attorneys fees expenses title iii miscellaneous provisions sec prohibits construction act affecting aspect issued secretary interior december oil gas leasing development new_mexico


Summary:
Fair Tax Act of 2013 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2013.

Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23% in 2015, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes, and for state government functions. Sets forth rules relating to: (1) the collection and remittance of the sales tax, and (2) credits and refunds. Allows a monthly sales tax rebate for families based upon criteria related to family size and poverty guidelines. Grants states the primary authority for the collection of sales tax revenues and the remittance of such revenues to the Treasury. Sets forth administrative provisions relating to: (1) the filing of monthly reports and payments of tax; (2) accounting methods; (3) registration of sellers of goods and services responsible for reporting sales; (4) penalties for noncompliance; and (5) collections, appeals, and taxpayer rights. Directs the Secretary of the Treasury to allocate sales tax revenues among: (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund. Prohibits the funding of the Internal Revenue Service (IRS) after FY2017. Establishes in the Department of the Treasury: (1) an Excise Tax Bureau to administer excise taxes not administered by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF); and (2) a Sales Tax Bureau to administer the national sales tax. Terminates the sales tax imposed by this Act if the Sixteenth Amendment to the U.S. Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.

fair tax act repeals income tax employment tax estate gift tax redesignates internal revenue code internal_revenue_code imposes national sales tax use consumption united_states taxable property services sets sales tax rate adjustments rate subsequent years allows exemptions tax property services purchased business export investment purposes state government functions sets forth rules relating collection remittance sales tax credits refunds allows monthly sales tax rebate families based criteria related family size poverty guidelines grants states primary authority collection sales tax revenues remittance revenues treasury sets forth administrative provisions relating filing monthly reports payments tax accounting methods registration sellers goods services responsible reporting sales penalties noncompliance collections appeals taxpayer rights directs secretary treasury allocate sales tax revenues general revenue old age survivors insurance trust fund disability insurance trust fund hospital insurance trust fund federal supplementary medical insurance trust fund prohibits funding internal_revenue_service irs fy2017 establishes department_of_the_treasury excise_tax_bureau administer excise taxes administered explosives atf sales_tax_bureau administer national sales tax terminates sales tax imposed act sixteenth amendment authorizing income tax repealed seven years enactment act


Summary: Seniors' Tax Simplification Act of 2013 - Directs the Secretary of the Treasury to make available a new federal income tax Form 1040SR (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.

seniors tax simplification act directs secretary treasury available new federal income tax form 1040sr similar form 1040ez individuals turned close taxable year allows form income includes social security benefits distributions qualified retirement plans annuities deferred payment arrangements interest dividends capital gains losses


Summary: Create Jobs by Expanding the R&D Tax Credit Act of 2013 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for increasing research activities in 2013 and 2014, (2) extend such tax credit through 2014, and (3) allow certain small business concerns to assign research tax credit amounts in 2013 and 2014.

create jobs expanding tax credit act amends internal revenue code increase rate tax credit increasing research activities extend tax credit allow certain small business concerns assign research tax credit amounts


Summary: Death Tax Repeal Act - Repeals the federal estate, gift, and generation-skipping transfer taxes.

death tax repeal act repeals federal estate gift generation skipping transfer taxes


Summary:
Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures; (2) the tax credits for the purchase of alternative motor vehicles and new qualified plug-in electric drive motor vehicles; (3) the alternative fuel vehicle refueling property tax credit; (4) the income tax credits for alcohol, biodiesel, and renewable diesel used as fuel; (5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells; (6) the tax credits for producing electricity from renewable resources and from advanced nuclear power facilities; (7) the tax credit for carbon dioxide sequestration; (8) the energy tax credit; and (9) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects.

Directs the Secretary of the Treasury to prescribe a flat income tax rate for corporations, in lieu of the existing marginal tax rates, based upon the overall revenue savings from the repeal of energy tax expenditures by this Act.

energy freedom economic prosperity act amends internal revenue code repeal excise tax credits alcohol fuel biodiesel alternative fuel mixtures tax credits purchase alternative motor vehicles new qualified plug electric drive motor vehicles alternative fuel vehicle refueling property tax credit income tax credits alcohol biodiesel renewable diesel fuel enhanced oil recovery tax credit tax credit producing oil gas marginal wells tax credits producing electricity renewable resources advanced nuclear power facilities tax credit carbon dioxide sequestration energy tax credit tax credits investment qualifying advanced coal projects qualifying gasification projects directs secretary treasury prescribe flat income tax rate corporations lieu existing marginal tax rates based overall revenue savings repeal energy tax expenditures act


Summary: Communities Committed to College Tax Credit Act of 2013 - Amends the Internal Revenue Code to allow a tax credit for 50% of any contribution to a tax-exempt scholarship funding trust established to provide scholarships for individuals with demonstrated financial need to attend institutions of higher education.

amends internal revenue code allow tax credit contribution tax exempt scholarship funding trust established provide scholarships individuals demonstrated financial need attend institutions higher education


Summary: Expensing Property Expands our Nation's Strong Economy Act of 2013 or the EXPENSE Act of 2013 - Amends the Internal Revenue Code to: (1) repeal the limitations on the expensing of depreciable business assets; and (2) allow taxpayers to elect a two-year recovery period for depreciable property.

expensing property expands nation strong economy act expense act amends internal revenue code repeal limitations expensing depreciable business assets allow taxpayers elect year recovery period depreciable property


Summary: Children's Hope Act of 2013 - Amends the Internal Revenue Code to allow a tax credit of up to $100 ($200 for joint returns) for charitable contributions to an education investment organization that disburses 90% of its contributions to provide grants to students for elementary and secondary education expenses, if at least 50% of such disbursements go to students who qualify for free or reduced-cost school lunches. Requires a taxpayer claiming such credit, as a condition of eligibility to receive it, to first claim a state qualified scholarship tax credit.

children hope act amends internal revenue code allow tax credit joint returns charitable contributions education investment organization contributions provide grants students elementary secondary education expenses disbursements students qualify free reduced cost school lunches requires taxpayer claiming credit condition eligibility receive claim state qualified scholarship tax credit


Summary: Complete America's Great Trails Act - Amends the Internal Revenue Code to allow a tax credit for the fair market value of any National Scenic Trail conservation contribution. Requires the Secretary of the Interior to study the efficacy of such tax credit in completing, extending, and increasing the number of National Scenic Trails.

great trails act amends internal revenue code allow tax credit fair market value conservation contribution requires secretary interior study efficacy tax credit completing extending increasing number


Summary: Farmers Against Crippling Taxes Act - Repeals the federal estate, gift, and generation-skipping transfer taxes.

farmers taxes act repeals federal estate gift generation skipping transfer taxes


Summary: Small Brewer Reinvestment and Expanding Workforce Act or the Small BREW Act - Amends the Internal Revenue Code to reduce the rate of the excise tax on beer produced within or imported into the United States for brewers who produce not more than 6 million barrels of beer a year.

expanding workforce act small act amends internal revenue code reduce rate excise tax beer produced imported united_states brewers produce million barrels beer year


Summary: Middle Class Payroll Tax Relief Act - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to extend through 2013 the 2% reduction in employment tax rates for employees and self-employed individuals.

middle class payroll tax relief act amends tax relief unemployment insurance reauthorization job creation act extend reduction employment tax rates employees self employed individuals


Summary: Put America Back to Work Act - Amends the Internal Revenue Code, with respect to the Build America Bond program, to: (1) extend permanently the authority to issue such bonds and the authority for payments to issuers of such bonds, (2) reduce the percentage rate of payments to issuers, (3) allow refundings of currently-issued Build America bonds, and (4) allow the use of such bonds to fund capital expenditures for levees and flood control projects.

america work act amends internal revenue code respect build_america_bond program extend permanently authority issue bonds authority payments issuers bonds reduce percentage rate payments issuers allow refundings currently issued build_america bonds allow use bonds fund capital expenditures levees flood control projects


Summary:
Refundable Child Tax Credit Eligibility Verification Reform Act of 2013 - Amends the Internal Revenue Code, with respect to the child tax credit, to require taxpayers claiming such credit to provide their social security numbers on their tax returns.

Prohibits taxpayers who improperly claimed such credit in a previous year from claiming such credit during a disallowance period of: (1) 2 years for claims made with reckless or intentional disregard of rules governing such credit, or (2) 10 years for fraudulent claims.

Requires the Secretary of the Treasury to prescribe a form for completion by paid income tax preparers in connection with claims for the refundable portion of the child tax credit. Imposes a penalty on preparers who fail to comply with due diligence requirements for claiming the refundable portion of the credit.

amends internal revenue code respect child tax credit require taxpayers claiming credit provide social security numbers tax returns prohibits taxpayers improperly claimed credit previous year claiming credit disallowance period years claims reckless intentional disregard rules governing credit years fraudulent claims requires secretary treasury prescribe form completion paid income tax preparers connection claims refundable portion child tax credit imposes penalty preparers fail comply diligence requirements claiming refundable portion credit


Summary: Scaling Up Manufacturing Act of 2013 - Amends the Internal Revenue Code to allow certain corporations or partnerships that are headquartered in the United States a tax credit for up to 25% of their costs for the construction of a manufacturing facility and for the purchase of specialized equipment for use at such facility.

scaling manufacturing act amends internal revenue code allow certain corporations partnerships headquartered united_states tax credit costs construction manufacturing facility purchase specialized equipment use facility


Summary:
Paying a Fair Share Act of 2013 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of: (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits. Provides for a phase-in of such tax. Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2014.

Expresses the sense of the House of Representatives that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.

paying fair share act amends internal revenue code require individual taxpayer adjusted gross income exceeds million pay minimum tax rate excess taxpayer adjusted gross income taxpayer modified charitable contribution deduction taxable year tentative fair share tax establishes tax excess tentative fair share tax excess sum taxpayer regular tax liability alternative minimum tax amt payroll tax taxable year certain tax credits provides phase tax requires inflation adjustment million income threshold taxable years beginning expresses sense house_of_representatives congress enact tax reform repeals unfair unnecessary tax loopholes expenditures simplifies tax system makes sure wealthiest taxpayers pay fair share taxes


Summary: Permanently Repeal the Estate Tax Act of 2013 - Repeals the federal estate tax, effective for estates of decedents dying after December 31, 2012.

permanently repeal estate tax act repeals federal estate tax effective estates decedents dying december


Summary: Amends the Internal Revenue Code to exclude from gross income increased-wage exempt-dividends distributed to an individual by a corporation or a partnership which is a small business concern (as defined by the Small Business Act). Defines "increased-wage exempt-dividends" as dividends paid by a small business concern that do not exceed the increase in wages paid by the small business concern over wages paid in the preceding taxable year.

amends internal revenue code exclude gross income increased wage exempt dividends distributed individual corporation partnership small business concern defined small_business_act defines increased wage exempt dividends dividends paid small business concern exceed increase wages paid small business concern wages paid preceding taxable year


Summary:
Patriot Corporations of America Act of 2013 - Grants after 2013 a preference to Patriot corporations in the evaluation of bids or proposals for federal contracts. Defines "Patriot corporation" as a corporation which: (1) produces at least 90% of its goods and services in the United States; (2) does not pay its its management-level employees at a rate more than 10,000% of the compensation of its lowest paid employee; (3) conducts at least 50% of its research and development in the United States; (4) contributes at least 5% of its payroll to a portable pension fund for its employees; (5) pays at least 70% of its employees' health insurance costs; (6) maintains a policy of neutrality in employee organizing drives; (7) provides full differential salary and insurance benefits for all National Guard and Reserve employees who are called to active duty; and (8) has not violated federal regulations, including regulations relating to the environment, workplace safety, labor relations, and consumer protections.

Amends the Internal Revenue Code to: (1) reduce the income tax rate for Patriot corporations, and (2) reclassify foreign corporations created or organized to avoid federal taxation as domestic corporations for income tax purposes.

grants preference patriot corporations evaluation bids proposals federal contracts defines patriot corporation corporation produces goods services united_states pay management level employees rate compensation lowest paid employee conducts research development united_states contributes payroll portable pension fund employees pays employees health insurance costs maintains policy neutrality employee organizing drives provides differential salary insurance benefits national_guard_and_reserve employees called active duty violated federal regulations including regulations relating environment workplace safety labor relations consumer protections amends internal revenue code reduce income tax rate patriot corporations reclassify foreign corporations created organized avoid federal taxation domestic corporations income tax purposes


Summary: Amends the Internal Revenue Code, with respect to the preferential tax treatment of gains and losses from the sale of depreciable property used in a trade or business, to eliminate "horses" from the definition of "livestock" (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement).

amends internal revenue code respect preferential tax treatment gains losses sale depreciable property trade business eliminate horses definition livestock making month holding period requirement livestock inapplicable horses allowing horses treated capital assets subject existing year holding period requirement