Summary:
Extra Credit for Working Students Act of 2016

This bill amends the Internal Revenue Code to allow a taxpayer to accelerate the American Opportunity Tax Credit for qualified tuition and related expenses. A taxpayer may elect to receive the full amount of the credit over the first two years of postsecondary education rather than the four-year period required under current law. Such an election is irrevocable, applies for all subsequent tax years, and may not be made for any taxable year beginning after December 31, 2022.

The Department of the Treasury must submit to Congress reports that include: the election rate, the demographics of the students making the elections, and an assessment of the effectiveness of the elections and the tax credit in improving college completion times.

bill amends internal_revenue_code allow taxpayer accelerate american_opportunity_tax_credit qualified tuition related expenses taxpayer elect receive credit years postsecondary education year period required current law election irrevocable applies subsequent tax years taxable year beginning december department_of_the_treasury submit congress reports include election rate demographics students making elections assessment effectiveness elections tax credit improving college completion times


Summary:
No Loopholes in Social Security Taxes Act

This bill amends the Internal Revenue Code to apply payroll and self-employment taxes to remuneration up to the Social Security contribution and benefit base and to remuneration in excess of $250,000.

loopholes social_security taxes act bill amends internal_revenue_code apply payroll self employment taxes remuneration social_security contribution benefit base remuneration excess


Summary:
Retirement Inflation Protection Act of 2016

This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of individuals who: (1) have held the asset for more than 3 years, and (2) have attained the age of 59-1/2 as of the date of the sale or other disposition of the asset.

The bill sets forth rules for applying the inflation adjustment to short sales, dispositions between related persons, and improvements to property or contributions of capital.

The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.

retirement inflation protection act bill amends internal_revenue_code allow adjusted basis certain assets including common stock corporation tangible property trade business indexed inflation purpose determining gain loss individuals held asset years attained age date sale disposition asset bill sets forth rules applying inflation adjustment short sales dispositions related persons improvements property contributions capital internal_revenue_service disallow adjustment person transfers cash debt property person principal purpose securing increasing adjustment allowed bill


Summary:
Preserving America's Downtowns and Heritage Act of 2016

This bill amends the Internal Revenue Code to: (1) increase the rate of the rehabilitation tax credit for commercial buildings and for certified historic structures, and (2) allow a new 20% rehabilitation tax credit for certified historic buildings used by a taxpayer as a principal residence.

preserving america heritage act bill amends internal_revenue_code increase rate rehabilitation tax credit commercial buildings certified historic structures allow new rehabilitation tax credit certified historic buildings taxpayer principal residence


Summary:
Tax Technical Corrections Act of 2016

This bill makes technical and clerical amendments to:

 the Protecting Americans From Tax Hikes Act of 2015; the Consolidated Appropriations Act, 2016; the Fixing America's Surface Transportation Act; the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015; the Stephen Beck, Jr., ABLE Act of 2014; the American Taxpayer Relief Act of 2012; the United States-Korea Free Trade Agreement Implementation Act; the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU); the American Jobs Creation Act of 2004; provisions of the Internal Revenue Code related to partnership audit rules; the Bipartisan Budget Act of 2015; the Energy Policy Act of 2005; and other specified provisions of the Internal Revenue Code. The bill also amends various provisions in the Internal Revenue Code that are not used in computing current tax liabilities (referred to as deadwood provisions).

tax technical corrections act bill makes technical clerical amendments consolidated_appropriations_act fixing_america surface_transportation veterans health care choice improvement act able act american taxpayer relief act safe accountable flexible efficient transportation equity act legacy users safetea american_jobs_creation_act provisions internal revenue code related partnership audit rules bipartisan_budget_act energy policy act specified provisions internal_revenue_code bill amends provisions internal revenue code computing current tax liabilities referred deadwood provisions


Summary:
Retirement Security Preservation Act of 2016

This bill amends the Internal Revenue Code to modify the nondiscrimination requirements for certain defined benefit retirement plans that limit participation or certain features to a closed class, such as individuals who were hired before a certain date.

(Under current law, the plans may not discriminate in favor of highly compensated employees and must meet minimum participation requirements.)

The bill applies only to a defined benefit plan that: (1) closed before September 21, 2016; or (2) was in effect for at least five years when it closed and did not substantially increase the coverage or value of the benefits, rights, or features for the closed class during the five-year period before it closed, except as the result of certain business acquisitions or mergers.

Such a plan meets the nondiscrimination requirements if it: (1) satisfies certain testing rules for the year that the class closes and the two succeeding plan years, and (2) is not amended in a discriminatory manner after the class is closed.

A defined contribution plan that offers additional contributions or benefits to a closed class whose benefits under a defined benefit plan have been reduced or eliminated meets the nondiscrimination requirements if: (1) the group receiving the contributions or benefits satisfies certain testing rules for the year in which the group is closed and for two subsequent plan years, and (2) the plan is not amended in a discriminatory manner.

A defined benefit plan that is either closed or has ceased benefit accruals for all participants (frozen plan) satisfies the minimum participation requirements if the plan met the requirements when it was closed or frozen.

retirement security preservation act bill amends internal_revenue_code modify nondiscrimination requirements certain defined benefit retirement plans limit participation certain features closed class individuals hired certain date current law plans discriminate favor highly compensated employees meet minimum participation requirements bill applies defined benefit plan closed september effect years closed substantially increase coverage value benefits rights features closed class year period closed result certain business acquisitions mergers plan meets nondiscrimination requirements satisfies certain testing rules year class closes succeeding plan years amended discriminatory manner class closed defined contribution plan offers additional contributions benefits closed class benefits defined benefit plan reduced eliminated meets nondiscrimination requirements group receiving contributions benefits satisfies certain testing rules year group closed subsequent plan years plan amended discriminatory manner defined benefit plan closed ceased benefit accruals participants frozen plan satisfies minimum participation requirements plan met requirements closed frozen


Summary: Amends the Internal Revenue Code to make permanent the taxpayer election to deduct state and local general sales taxes in lieu of state and local income taxes.

amends internal revenue code permanent taxpayer election deduct state local general sales taxes lieu state local income taxes


Summary:
Fair Tax Act of 2015

This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2017, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government functions.

Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.

Tax revenues are to be allocated 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.

No funding is allowed for the operations of the Internal Revenue Service after FY2019.

Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.

fair tax act bill tax reform proposal imposes national sales tax use consumption united_states taxable property services lieu current income corporate income tax employment self employment taxes estate gift taxes rate sales tax adjustments rate subsequent years exemptions tax intangible property property services purchased business export investment purposes state government functions bill family members lawful residents receive monthly sales tax rebate based criteria related family size poverty guidelines states responsibility administering collecting remitting sales tax treasury tax revenues allocated general revenue old age survivors insurance trust fund disability insurance trust fund hospital insurance trust fund federal supplementary medical insurance trust fund funding allowed operations internal_revenue_service fy2019 finally bill terminates national sales tax sixteenth amendment constitution authorizing income tax repealed seven years enactment act


Summary:
Paying a Fair Share Act of 2015

 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 2016.

Expresses the sense of the Senate 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 senate congress enact tax reform repeals unfair unnecessary tax loopholes expenditures simplifies tax system makes sure wealthiest taxpayers pay fair share 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:
Depreciation Fairness Act of 2015

This bill amends the Internal Revenue Code to make permanent the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property for purposes of the tax deduction for depreciation.

depreciation fairness act bill amends internal_revenue_code permanent year recovery period qualified leasehold improvement property qualified restaurant property qualified retail improvement property purposes tax deduction depreciation


Summary:
Internet Tax Freedom Forever 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.

internet tax freedom forever act amends internet tax freedom act permanent ban state local taxation internet access multiple discriminatory taxes electronic commerce


Summary:
New Markets Tax Credit Extension Act of 2015

Amends the Internal Revenue Code to: (1) make permanent the new markets tax credit, (2) provide for an inflation adjustment to the limitation amount for such credit after 2014, and (3) allow an offset against the alternative minimum tax for such credit (determined with respect to qualified equity investments initially made after the enactment of this Act).

new_markets_tax_credit_extension_act amends internal revenue code permanent new markets tax credit provide inflation adjustment limitation credit allow offset alternative minimum tax credit determined respect qualified equity investments initially enactment act


Summary:
American Opportunity Tax Credit Permanence and Consolidation Act of 2015

Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) imposes a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes a portion of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.

amends internal revenue code replace hope scholarship lifetime_learning tax credits new american_opportunity_tax_credit allows income tax credit qualified tuition related expenses student carrying half normal course load increases income threshold reductions credit based modified adjusted gross income imposes lifetime dollar limitation credit taxable years makes portion credit refundable allows exclusion gross income received federal pell grant


Summary:
Fair Brewers Excise and Economic Relief Act or the Fair BEER Act

This bill amends the Internal Revenue Code to revise the excise tax on beer brewed or produced, and removed for consumption or sale, within the United States or imported into the United States. The revised tax ranges from $0 for an amount not exceeding 7,143 barrels to $18 per barrel on an amount exceeding 2 million barrels.

excise economic relief act fair beer act bill amends internal_revenue_code revise excise tax beer produced removed consumption sale united_states imported united_states revised tax ranges exceeding barrels barrel exceeding million barrels


Summary:
Digital Goods and Services Tax Fairness Act of 2015

Prohibits a state or local jurisdiction from imposing multiple or discriminatory taxes on the sale or use of a digital good or service delivered or transferred electronically to a customer. Excludes from the definition of "digital service" a service that is predominantly attributable to the direct, contemporaneous expenditure of live human effort, skill, or expertise, a telecommunications service, an ancillary service, an Internet access service, an audio or video programming service, or a hotel intermediary service.

Restricts taxation of a digital good or service to taxation by a state or local jurisdiction whose territorial limits encompass a customer tax address, as defined by this Act. Makes the seller of digital goods or services responsible for obtaining and maintaining such address. Provides for the taxation of digital goods and services transactions that are aggregated and not separately stated.

digital_goods services tax fairness act prohibits state local jurisdiction imposing multiple discriminatory taxes sale use digital good service delivered transferred electronically customer excludes definition digital service service predominantly attributable direct contemporaneous expenditure live human effort skill expertise telecommunications service ancillary service internet access service audio video programming service hotel intermediary service restricts taxation digital good service taxation state local jurisdiction territorial limits encompass customer tax address defined act makes seller digital goods services responsible obtaining maintaining address provides taxation digital goods services transactions aggregated separately stated


Summary:
Death Tax Repeal Act of 2015

Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. Provides for an inflation adjustment to such exemption amount.

death tax repeal act amends internal revenue code repeal estate generation skipping transfer taxes permanent maximum gift tax rate lifetime gift tax exemption provides inflation adjustment exemption


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

Craft Beverage Bond Simplification Act of 2015

(Sec. 2) This bill allows taxpayers who are liable for not more than $50,000 per year in excise taxes on distilled spirits, wine, or beer to file and pay such taxes quarterly without the requirement to post a bond covering the operations and withdrawals of such distilled spirits, wines, or beer. The bill also allows such a taxpayer who reasonably expects to have a tax liability of not more than $1,000 per year and who was liable for not more than $1,000 in taxes in the preceding calendar year to file and pay such taxes annually rather than quarterly. Makes this Act effective 90 days after its enactment.

measure amended introduced summary expanded action occurred measure craft beverage bond simplification act sec bill allows taxpayers liable year excise taxes distilled spirits wine beer file pay taxes quarterly requirement post bond covering operations withdrawals distilled spirits wines beer bill allows taxpayer reasonably expects tax liability year liable taxes preceding calendar year file pay taxes annually quarterly makes act effective days enactment


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

Cider Investment and Development through Excise Tax Reduction (CIDER) Act

(Sec. 2) Amends the Internal Revenue to revise the definition of "hard cider," for purposes of the excise tax on distilled spirits, wines, and beer, to mean a wine: (1) containing not more than .64 gram of carbon dioxide per hundred milliliters of wine (subject to necessary tolerances); (2) which is derived primarily from apples, apple juice concentrate, pears, or pear juice concentrate, and water; (3) which contains no fruit product or fruit flavoring other than apple or pear; and (4) which contains at least one-half of 1% and less than 8.5% alcohol by volume.

(Sec. 3) Increases from 30% to 35% the rate of the continuous levy on payments to Medicare providers or suppliers for unpaid taxes.

measure amended introduced summary expanded action occurred measure cider investment development excise tax reduction cider act sec amends internal revenue revise definition hard cider purposes excise tax distilled spirits wines beer mean wine containing carbon dioxide milliliters wine subject necessary tolerances derived primarily apples apple juice concentrate pear juice concentrate water contains fruit product fruit flavoring apple pear contains half alcohol volume sec increases rate continuous levy payments medicare providers suppliers unpaid taxes


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

Philanthropic Enterprise Act of 2015

(Sec. 2) Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet specified requirements relating to exclusive ownership, minimum distribution of net operating income for the charitable purpose (all profits to charity), and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise tax on excess business holdings, in taxable years beginning after 2014. Makes such exemption inapplicable to donor advised funds or supporting organizations that are subject to excess business holdings rules and certain charitable and split interest trusts.

measure amended introduced summary expanded action occurred measure philanthropic enterprise act sec amends internal revenue code exempt holdings private foundation business enterprise meet specified requirements relating exclusive ownership minimum distribution net operating income charitable purpose profits charity independent operation controlled substantial contributor family members excise tax excess business holdings taxable years beginning makes exemption inapplicable donor advised funds supporting organizations subject excess business holdings rules certain charitable split interest trusts


Summary:
Simplified, Manageable, And Responsible Tax Act or the SMART Act

 Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% on individual taxable income.

Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 17% of the business taxable income of such person. Makes the person engaged in the business activity liable for the tax, whether or not such person is an individual, a partnership, or a corporation. Imposes a tax of 17% on the value of excludable compensation provided during the year by an employer for the benefit of employees. Makes the employer liable for the tax. Repeals pension plan rules relating to : (1) non-discrimination, (2) contribution limits, and (3) restrictions on distributions. Revises rules relating to transfers of excess pension assets. Repeals: (1) the alternative minimum tax; (2) all income tax credits; (3) estate, gift, and generation-skipping transfer taxes; and (4) income tax provisions, except certain provisions relating to retirement distributions and tax-exempt organizations. Declares it not in order in the House of Representatives or the Senate, unless waived or suspended by a three-fifths vote, to consider any legislation that increases or adds an income tax rate, reduces the standard deduction, or provides any exclusion, deduction, credit, or other benefit that reduces federal revenues.

simplified manageable responsible tax act smart act amends internal revenue code replace marginal income tax rates single rate individual taxable income redefines taxable income mean wages retirement distributions unemployment compensation exceed standard deduction increases basic standard deduction includes additional standard deduction dependents includes taxable income taxable income dependent child age replaces current tax corporations tax person engaged business activity equal business taxable income person makes person engaged business activity liable tax person individual partnership corporation imposes tax value excludable compensation provided year employer benefit employees makes employer liable tax repeals pension plan rules relating non discrimination contribution limits restrictions distributions revises rules relating transfers excess pension assets repeals alternative minimum tax income tax credits estate gift generation skipping transfer taxes income tax provisions certain provisions relating retirement distributions tax exempt organizations declares order house_of_representatives senate waived suspended fifths vote consider legislation increases adds income tax rate reduces standard deduction provides exclusion deduction credit benefit reduces federal revenues


Summary:
Angel Tax Credit Act

Amends the Internal Revenue Code to allow a new business-related tax credit for 25% of equity investments of $25,000 or more in a domestic corporation or partnership that: (1) has its headquarters in the United States, (2) has gross revenues for the taxable year of less than $1 million, (3) employs fewer than 25 full-time employees, (4) has been in existence for less than 7 years as of the date of the investment, (5) has more than 50% of its employees performing substantially all of their services in the United States, and (6) is engaged in a high technology trade or business. Limits the allowable amount of such credit to $250,000 in any taxable year and imposes an overall limitation on such credit of $500 million for each of calendar years 2015 through 2019.

allow new business related tax credit equity investments domestic corporation partnership headquarters united_states gross revenues taxable year million employs fewer time employees existence years date investment employees performing substantially services united_states engaged high technology trade business limits allowable credit taxable year imposes overall limitation credit million calendar years


Summary:
Invest in Transportation Act

This bill amends the Internal Revenue Code to allow a domestic corporation to elect to repatriate its overseas income earned prior to 2015 at an effective tax rate of 6.5%. The corporation must complete the repatriation of such income during a specified five-year period and establish a domestic reinvestment plan under which not less than 25% of such income is used for investment in the United States, including for increased hiring, wages, pension contributions, energy efficiency, environmental and capital improvements, and research and development. No funds may be spent on increases in executive compensation. Additionally, a corporation which enters into a stock inversion to avoid U.S. taxation within 10 years after repatriating overseas income at a preferential tax rate must recapture a portion of the income taxed at the preferential rate.

The bill requires the Department of the Treasury to make an initial estimate of the amount of tax revenue from repatriated income to be received by Treasury prior to October 1, 2019, and another estimate not later than October 1, 2023, and transfer such estimated amounts to the Highway and Mass Transit Accounts of the Highway Trust Fund.

The bill authorizes appropriations from the Highway Trust Fund for the repair, replacement, or rehabilitation of deficient bridges.

invest bill amends internal_revenue_code allow domestic corporation elect repatriate overseas income earned prior effective tax rate corporation complete repatriation income specified year period establish domestic reinvestment plan income investment united_states including increased hiring wages pension contributions energy efficiency environmental capital improvements research development funds spent increases executive compensation additionally corporation enters stock avoid taxation years overseas income preferential tax rate recapture portion income taxed preferential rate bill requires department_of_the_treasury initial estimate tax revenue repatriated income received treasury prior october estimate later october transfer estimated amounts highway mass transit accounts highway_trust_fund bill authorizes appropriations highway_trust_fund repair replacement rehabilitation deficient bridges


Summary: Amends the Internal Revenue Code to allow a refundable tax credit for qualified cybersecurity information sharing organization costs (defined as the sum of dues for membership in the organization, personnel participation costs, product and service costs directly related to the sharing of information with the oganization, and other amounts [not including amounts for travel] relating to participation in activities of the organization).

amends internal revenue code allow refundable tax credit qualified cybersecurity information sharing organization costs defined sum dues membership organization personnel participation costs product service costs directly related sharing information amounts including amounts travel relating participation activities organization


Summary:
Public Good IRA Rollover Act of 2015

 Amends the Internal Revenue Code to revise the tax exclusion of distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) make such exclusion permanent; (2) eliminate the $100,000 cap on such exclusion; (3) permit tax-free distributions from IRAs to a split-interest entity (i.e., a charitable remainder annuity or unitrust, a pooled income fund, and a charitable gift annuity); and (4) allow distributions to a split-interest entity to be made when the account beneficiary attains age 59-1/2 (otherwise, age 70-1/2 for IRA distributions to a charitable organization).

public good ira rollover act amends internal revenue code revise tax exclusion distributions individual retirement accounts iras charitable purposes exclusion permanent eliminate cap exclusion permit tax free distributions iras split interest entity charitable remainder annuity pooled income fund charitable gift annuity allow distributions split interest entity account beneficiary attains age age ira distributions charitable organization


Summary:
Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act

Amends the Internal Revenue Code to exclude the aging period from the production period for distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.

spirits act aged spirits act amends internal revenue code exclude aging period production period distilled spirits purposes determining taxpayer expense capitalize interest costs paid incurred production period


Summary:
Small Business Expensing Act of 2015

This bill amends the Internal Revenue Code, with respect to the taxpayer election to expense depreciable business property (section 179 property), to: (1) increase to $1 million the expensing allowance for such property, (2) increase to $2.5 million the threshold amount of such property after which the amount of the expensing allowance is reduced, (3) grant a permanent right to revoke an expensing election, and (4) make such increased allowance permanent after 2014.

The allowance is also made permanent for computer software and for qualified real property (i.e., qualified leasehold improvement property, restaurant property, and retail improvement property).

small business expensing act bill amends internal_revenue_code respect taxpayer election expense depreciable business property section property increase million expensing allowance property increase million threshold property expensing allowance reduced grant permanent right revoke expensing election increased allowance permanent allowance permanent computer software qualified real property qualified leasehold improvement property restaurant property retail improvement property


Summary:
Distillery Excise Tax Reform Act of 2015

Amends the Internal Revenue Code to reduce to $2.70 per proof gallon the excise tax rate on the first 100,000 proof gallons of distilled spirits that are removed in the calendar year and that have been distilled, processed, or bottled by a distilled spirits operation at a qualified facility in the United States. Makes this rate reduction applicable to a specified controlled group of corporations that is a distilled spirits operation.

distillery excise tax reform act amends internal revenue code reduce proof gallon excise tax rate proof gallons distilled spirits removed calendar year distilled processed bottled distilled spirits operation qualified facility united_states makes rate reduction applicable specified controlled group corporations distilled spirits operation


Summary:
Cider Investment and Development through Excise Tax Reduction (CIDER) Act

Amends the Internal Revenue to revise the definition of "hard cider," for purposes of the excise tax on distilled spirits, wines, and beer, to mean a wine: (1) containing not more than .64 gram of carbon dioxide per hundred milliliters of wine (subject to necessary tolerances); (2) which is derived primarily from apples, apple juice concentrate, pears, or pear juice concentrate, and water; (3) which contains no fruit product or fruit flavoring other than apple or pear; and (4) which contains at least one-half of 1% and less than 8.5% alcohol by volume.

excise tax reduction cider act amends internal revenue revise definition hard cider purposes excise tax distilled spirits wines beer mean wine containing carbon dioxide milliliters wine subject necessary tolerances derived primarily apples apple juice concentrate pear juice concentrate water contains fruit product fruit flavoring apple pear contains half alcohol volume


Summary:
Craft Beverage Modernization and Tax Reform Act of 2015

Amends the Internal Revenue Code to:

 allow taxpayers who are liable for not more than $50,000 per year in excise taxes on distilled spirits, wine, or beer to file and pay such taxes quarterly without the requirement of posting a bond covering the operations and withdrawals of such distilled spirits, wines, or beer; allow such taxpayers who reasonably expect to have a tax liability of not more than $1,000 per year and who were liable for not more than $1,000 in taxes in the preceding calendar year to file and pay such taxes annually rather than quarterly; exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period; reduce excise tax rates on beer, wine, and distilled spirits produced in the United States; permit the transfer of beer between bonded facilities without payment of tax; modify the definition of "hard cider" for excise tax purposes; and exempt home distillery establishments that produce distilled spirits solely for personal or family use from excise tax and bonding requirements. Directs the Department of the Treasury to amend applicable Treasury regulations with respect to the use of wholesome products suitable for human consumption in the production of fermented beverages.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to establish funding levels in FY2016-FY2021 for the enforcement and compliance activities of the Alcohol and Tobacco Tax and Trade Bureau.

craft beverage modernization tax reform act amends internal revenue code allow taxpayers liable year excise taxes distilled spirits wine beer file pay taxes quarterly requirement posting bond covering operations withdrawals distilled spirits wines beer allow taxpayers reasonably expect tax liability year liable taxes preceding calendar year file pay taxes annually quarterly exclude aging period production period beer wine distilled spirits purposes determining taxpayer expense capitalize interest costs paid incurred production period reduce excise tax rates beer wine distilled spirits produced united_states permit transfer beer bonded facilities payment tax modify definition hard cider excise tax purposes exempt home distillery establishments produce distilled spirits solely personal family use excise tax bonding requirements directs department_of_the_treasury amend applicable treasury regulations respect use wholesome products suitable human consumption production beverages amends balanced_budget emergency deficit control act establish funding levels fy2016 fy2021 enforcement compliance activities


Summary:
This bill amends the Internal Revenue Code to make permanent the additional 50% depreciation allowance, known as bonus depreciation, for depreciable business property (i.e., qualified property) placed in service after December 31, 2014. The term "qualified property" is modified to include qualified improvement property, in lieu of qualified leasehold improvement property, which is defined as any improvement to an interior portion of a building that is nonresidential real property if such improvement is placed in service after the date such building was first placed in service. The bill also increases by $8,000 (with an annual inflation adjustment after 2015) the maximum allowable depreciation deduction for a passenger automobile (i.e., any 4-wheeled vehicle that is manufactured primarily for use on public streets, roads, and highways and is rated at 6,000 pounds unloaded gross vehicle weight or less).

Also made permanent, for taxable years ending after December 31, 2014, is the election to increase the alternative minium tax credit limitation in lieu of bonus depreciation.

The bill allows an additional depreciation allowance for any specified plant that is planted, or grafted to a plant that has already been planted, by the taxpayer in the ordinary course of the taxpayer's farming business. The term "specified plant" means: (1) any tree or vine that bears fruits or nuts, and (2) any other plant that will have more than one yield of fruits or nuts and that generally has a period of more than two years from the time of planting or grafting to the time at which such plant begins bearing fruits or nuts. This allowance is applicable to specified plants planted or grafted after December 31, 2014.

Finally, the bill prohibits the entry of the budgetary effects of this Act on any PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.

bill amends internal_revenue_code permanent additional depreciation allowance known bonus depreciation depreciable business property qualified property placed service december term qualified property modified include qualified improvement property lieu qualified leasehold improvement property defined improvement interior portion building nonresidential real property improvement placed service date building placed service bill increases annual inflation adjustment maximum allowable depreciation deduction passenger automobile wheeled vehicle manufactured primarily use public streets roads highways rated pounds unloaded gross vehicle weight permanent taxable years ending december election increase alternative tax credit limitation lieu bonus depreciation bill allows additional depreciation allowance specified plant planted plant planted taxpayer ordinary course taxpayer farming business term specified plant means tree vine bears fruits nuts plant yield fruits nuts generally period years time planting time plant begins bearing fruits nuts allowance applicable specified plants planted december finally bill prohibits entry budgetary effects act paygo scorecard maintained pursuant statutory pay act


Summary: Amends the Internal Revenue Code to: (1) extend through 2016 the special depreciation allowance for business assets (bonus depreciation), and (2) increase the limitation on the election to accelerate the alternative minimum tax credit in lieu of bonus depreciation for 2015 and 2016.

amends internal revenue code extend special depreciation allowance business assets bonus depreciation increase limitation election accelerate alternative minimum tax credit lieu bonus depreciation


Summary:
Responsible Estate Tax Act

Amends the Internal Revenue Code, with respect to estate, gift, and generation-skipping transfer taxes, to: (1) revise estate tax rates to impose an increased tax for estates over $3.5 million and a maximum tax rate of 55% for estates over $50 million, (2) impose a 10% surtax on estates over $500 million, (3) reduce the basic estate tax exclusion amount to $3.5 million, (4) increase to $3 million the reduction in valuations of farmland for estate tax purposes and adjust such increased amount for inflation after 2014, and (5) increase to $2 million the maximum estate tax exclusion for contributions of conservation easements.

Requires that the value of the basis in any property acquired from a decedent or by gift be consistent with the basis as determined for estate and gift tax purposes. Requires executors of estates and donors of gifts required to file a gift tax return to disclose to the Department of the Treasury, and to recipients of any interest in an estate or a gift, information identifying the value of each interest received.

Sets forth estate valuation rules for certain transfers of nonbusiness assets and limits estate tax discounts for certain individuals with minority interests in a business acquired from a decedent.

Expands rules for valuing assets in grantor retained annuity trusts to require that: (1) the right to receive fixed amounts from an annuity last for a term of not less than 10 years and that such fixed amounts not decrease during the first 10 years of the annuity term, and (2) the remainder interest have a value greater than 10% when transferred.

Sets forth rules for the application of transfer taxes to a grantor trust (a trust in which the grantor retains control over the trust assets and has the right to receive income from the trust). Eliminates the generation-skipping transfer tax exemption for any trust whose termination date is not greater than 50 years after its creation.

Modifies the annual gift tax exclusion (currently, $14,000 per donee) to limit the aggregate annual amount of such exclusion to twice the current exclusion amount for certain types of transfers, specifically a transfer in trust, a transfer of an interest in a pass through entity, a transfer of an interest subject to a prohibition on sale, and any other transfer of property that cannot be immediately liquidated by the donee.

responsible estate tax act amends internal revenue code respect estate gift generation skipping transfer taxes revise estate tax rates impose increased tax estates million maximum tax rate estates million impose surtax estates million reduce basic estate tax exclusion million increase million reduction valuations farmland estate tax purposes adjust increased inflation increase million maximum estate tax exclusion contributions conservation easements requires value basis property acquired decedent gift consistent basis determined estate gift tax purposes requires executors estates donors gifts required file gift tax return disclose department_of_the_treasury recipients interest estate gift information identifying value interest received sets forth estate valuation rules certain transfers nonbusiness assets limits estate tax discounts certain individuals minority interests business acquired decedent expands rules valuing assets grantor retained annuity trusts require right receive fixed amounts annuity term years fixed amounts decrease years annuity term remainder interest value greater transferred sets forth rules application transfer taxes grantor trust trust grantor retains control trust assets right receive income trust eliminates generation skipping transfer tax exemption trust termination date greater years creation modifies annual gift tax exclusion currently donee limit aggregate annual exclusion twice current exclusion certain types transfers specifically transfer trust transfer interest pass entity transfer interest subject prohibition sale transfer property immediately liquidated donee


Summary:
Commuter Benefits Equity Act of 2015

Amends the Internal Revenue Code to equalize and increase to $250, with a cost-of-living adjustment after 2015, the tax exclusion for both transportation and parking fringe benefits.

Authorizes agencies to establish a program involving such benefits in lieu of transit passes to encourage commuting by federal employees by means other than single-occupancy motor vehicles.

commuter benefits equity act amends internal revenue code equalize increase cost living adjustment tax exclusion transportation parking fringe benefits authorizes agencies establish program involving benefits lieu transit passes encourage commuting federal employees means single occupancy motor vehicles


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

Tax Relief Extension Act of 2015

Amends the Internal Revenue Code to extend expired and expiring tax provisions affecting individual and business taxpayers and the energy sector.

(Sec. 2) Expresses the sense of the Senate that: (1) Congress should pursue a process of comprehensive tax reform, (2) Congress should eliminate temporary provisions in the Internal Revenue Code by making permanent those provisions that merit permanency and by allowing others to expire, and (3) a major focus of the tax reform process should be fostering economic growth and lowering tax rates by broadening the tax base.

TITLE I--PROVISIONS THAT EXPIRED IN 2014

Subtitle A--Individual Tax Extenders

(Sec. 101) Extends through 2016 the tax deduction for the expenses of elementary and secondary school teachers. Expands such deduction to include expenses in connection with the professional development activities of an educator.

(Sec. 102) Extends through 2016 the exclusion from gross income of imputed income from the discharge of acquisition indebtedness for a principal residence.

(Sec. 103) Extends through 2016 the equalization of the tax exclusion for employer-paid mass transit and parking benefits. Expands such exclusion to include bike sharing programs.

(Sec. 104) Extends through 2016:

 the tax deduction for mortgage insurance premiums; the tax deduction for state and local general sales taxes in lieu of state and local income taxes; the tax deduction for contributions of property made for conservation purposes; the deduction from gross income for qualified tuition and related expenses; and tax-free distributions from individual retirement accounts for charitable purposes. Subtitle B--Business Tax Extenders

(Sec. 111) Extends through 2016 the tax credit for research expenditures. Allows a qualified small business (i.e., a corporation or partnership with gross receipts less than $5 million in a taxable year) to elect a credit against payroll tax liability, up to $250,000, in lieu of taking a research tax credit.

(Sec. 112) Extends through 2016 the low-income housing tax credit rate for newly constructed non-federally subsidized buildings. Allows through 2016 a 4% housing tax credit for non-federally subsidized existing buildings.

(Sec. 113) Amends the Housing Assistance Tax Act of 2008 to extend through 2016 the exemption of the basic military housing allowance from the income test for programs financed by tax-exempt housing bonds.

(Sec. 114) Extends through 2016:

 the Indian employment tax credit; the tax credit for railroad track maintenance expenditures; the tax credit for mine rescue team training expenditures; and differential wage payments to employees who are active duty members of the Uniformed Services. (Sec. 115) Increases the national limitation amount for the new markets tax credit through 2016. Extends through 2021 the period for carryover of unused limitation amounts.

(Sec. 119) Extends through 2016 the work opportunity tax credit. Allows a credit for the hiring of a qualified long-term unemployment recipient (unemployed for not less than 27 consecutive weeks).

(Sec. 120) Extends through 2016 the authority for issuing qualified zone academy bonds for the financing of public school facilities. Reduces the private business contribution requirement for such bonds from 10% to 5% of the proceeds of the bond issue.

(Sec. 121) Extends through 2016:

 the classification, for depreciation purposes, of certain race horses as three-year property; accelerated depreciation of qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements; the classification, for depreciation purposes, of motorsports entertainment complexes as seven-year property; accelerated depreciation of business property on Indian reservations; the additional 50% depreciation allowance (bonus depreciation) for business assets and the election to accelerate the alternative minimum tax credit in lieu of bonus depreciation; the deduction for charitable deductions of food inventory by taxpayers other than C corporations; the increased expensing allowance for business assets, computer software, and qualified real property (i.e., leasehold improvement, restaurant property, and retail improvement property); the election to expense mine safety equipment; the expensing allowance for certain film and television productions and the cost of live theatrical productions; the deduction for income attributable to domestic production activities in Puerto Rico; tax rules relating to payments between controlled foreign corporations and dividends of regulated investment companies; the subpart F income exemption for income derived in the active conduct of a banking, finance, or insurance business; the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income; the 100% exclusion from gross income of gain from the sale of small business stock; the basis adjustment rule for stock of an S corporation making charitable contributions of property; the reduction to five years of the recognition period for the built-in gains of S corporations; tax incentives for investment in empowerment zones; the increased amount of distilled spirit excise taxes paid to Puerto Rico and the Virgin Islands; and the American Samoa economic development tax credit. Subtitle C--Energy Tax Extenders

(Sec. 151) Extends through 2016 the tax credit for residential energy efficiency improvements. Modifies energy efficiency standards for windows, doors, skylights, roofing, water heaters, biomass stoves, and oil furnace or hot water boilers.

Extends through 2016:

 the tax credit for new qualified fuel cell motor vehicles; the tax credit for alternative fuel vehicle refueling property; the tax credit for second generation biofuel production; the tax credit for the production of electricity from Indian coal facilities placed in service before 2009; the tax credit for the production of electricity from wind, biomass, geothermal energy, landfill gas, trash, qualified hydropower, and marine and hydrokinetic renewable energy facilities; the tax credit for energy efficient new homes; the special depreciation allowance for second generation biofuel plant property; the tax deduction for energy efficient commercial buildings; tax deferral rules for sales or dispositions of qualified electric facilities; and the excise tax credit for alternative fuels. (Sec. 155) Modifies and extends through 2016 the income and excise tax credits for biodiesel and renewable diesel used as fuel.

TITLE II--PROVISION THAT EXPIRED IN 2013

(Sec. 201) Revises and extends through 2016 the tax credit for two-wheeled plug-in electric vehicles.

TITLE III--REVENUE PROVISIONS

(Sec. 301) Excludes from gross income, for income tax purposes, any amount received by a non-corporate taxpayer as a clean coal power grant, award, or allowance under the Energy Policy Act of 2005.

(Sec. 302) Allows the consolidation of remuneration paid to a motion picture project worker by a motion picture project employer in a calendar year for employment tax purposes.

(Sec. 303) Equalizes the excise tax on liquefied petroleum gas and liquefied natural gas by establishing a rate of 18.3 cents per energy equivalent of a gallon of gasoline for liquefied petroleum gas and 24.3 cents per energy equivalent of a gallon of diesel for liquefied natural gas.

(Sec. 304) Requires mortgage interest information returns to include: (1) the amount of the outstanding mortgage at the beginning of the calendar year, (2) the address of the property securing such mortgage, and (3) the date of the origination of the mortgage.

TITLE IV--BUDGETARY EFFECTS

(Sec. 401) Prohibits the budgetary effects of this Act from being entered on any PAYGO scorecard.

measure amended introduced summary expanded action occurred measure tax relief extension act amends internal revenue code extend expired expiring tax provisions affecting individual business taxpayers energy sector sec expresses sense senate congress pursue process comprehensive tax reform congress eliminate temporary provisions internal revenue code making permanent provisions merit permanency allowing expire major focus tax reform process fostering economic growth lowering tax rates broadening tax base title provisions expired subtitle individual tax extenders sec extends tax deduction expenses elementary secondary school teachers expands deduction include expenses connection professional development activities educator sec extends exclusion gross income imputed income discharge acquisition indebtedness principal residence sec extends equalization tax exclusion employer paid mass transit parking benefits expands exclusion include sharing programs sec extends tax deduction mortgage insurance premiums tax deduction state local general sales taxes lieu state local income taxes tax deduction contributions property conservation purposes deduction gross income qualified tuition related expenses tax free distributions individual retirement accounts charitable purposes subtitle business tax extenders sec extends tax credit research expenditures allows qualified small business corporation partnership gross receipts million taxable year elect credit payroll tax liability lieu taking research tax credit sec extends low income housing tax credit rate newly constructed non federally subsidized buildings allows housing tax credit non federally subsidized existing buildings sec amends extend exemption basic military housing allowance income test programs financed tax exempt housing bonds sec extends indian employment tax credit tax credit railroad track maintenance expenditures tax credit rescue team training expenditures differential wage payments employees active duty members uniformed_services sec increases national limitation new markets tax credit extends period carryover unused limitation amounts sec extends work opportunity tax credit allows credit hiring qualified long term unemployment recipient unemployed consecutive weeks sec extends authority issuing qualified zone academy bonds financing public school facilities reduces private business contribution requirement bonds proceeds bond issue sec extends classification depreciation purposes certain race horses year property accelerated depreciation qualified leasehold improvements qualified restaurant buildings improvements qualified retail improvements classification depreciation purposes motorsports entertainment complexes seven year property accelerated depreciation business property indian reservations additional depreciation allowance bonus depreciation business assets election accelerate alternative minimum tax credit lieu bonus depreciation deduction charitable deductions food inventory taxpayers corporations increased expensing allowance business assets computer software qualified real property leasehold improvement restaurant property retail improvement property election expense safety equipment expensing allowance certain film television productions cost live theatrical productions deduction income attributable domestic production activities puerto_rico tax rules relating payments controlled foreign corporations dividends regulated investment companies subpart income exemption income derived active conduct banking finance insurance business tax rule exempting dividends interest rents royalties received accrued certain controlled foreign corporations related entity treatment foreign holding company income exclusion gross income gain sale small business stock basis adjustment rule stock corporation making charitable contributions property reduction years recognition period built gains corporations tax incentives investment empowerment zones increased distilled spirit excise taxes paid puerto_rico virgin_islands american_samoa economic development tax credit subtitle energy tax extenders sec extends tax credit residential energy efficiency improvements modifies energy efficiency standards windows doors water heaters biomass stoves oil hot water boilers extends tax credit new qualified fuel cell motor vehicles tax credit alternative fuel vehicle refueling property tax credit second generation biofuel production tax credit production electricity indian coal facilities placed service tax credit production electricity wind biomass geothermal energy landfill gas trash qualified hydropower marine hydrokinetic renewable energy facilities tax credit energy efficient new homes special depreciation allowance second generation biofuel plant property tax deduction energy efficient commercial buildings tax deferral rules sales dispositions qualified electric facilities excise tax credit alternative fuels sec modifies extends income excise tax credits biodiesel renewable diesel fuel title provision expired sec revises extends tax credit wheeled plug electric vehicles title iii revenue provisions sec excludes gross income income tax purposes received non corporate taxpayer clean coal power grant award allowance energy policy act sec allows consolidation remuneration paid motion picture project worker motion picture project employer calendar year employment tax purposes sec excise tax liquefied petroleum gas liquefied natural gas establishing rate cents energy equivalent gallon gasoline liquefied petroleum gas cents energy equivalent gallon diesel liquefied natural gas sec requires mortgage interest information returns include outstanding mortgage beginning calendar year address property securing mortgage date origination mortgage title budgetary effects sec prohibits budgetary effects act entered paygo scorecard


Summary:
Tax Relief And #FixTheTrustFund For Infrastructure Certainty Act of 2015 or the TRAFFIC Relief Act

This bill amends the Internal Revenue Code to phase in: (1) an increase of the excise tax rate on gasoline beginning in 2016 until such rate is 34.3 cents per gallon in calendar years beginning after 2018, and (2) a similar increase to 40.3 cents per gallon for diesel fuel and kerosene. The rates are to be adjusted for inflation for calendar years after 2019.

The bill phases in increases in allocations of fuel excise tax amounts to the Mass Transit Account of the Highway Trust Fund for calendar years beginning in 2015. Such increased allocations are to be adjusted for inflation for calendar years beginning after 2019.

The bill makes permanent the increase in the refundable portion of the child tax credit and the increase in the earned income tax credit for families with three or more qualifying children.

The earned income tax credit is also modified to: (1) allow an increase in such credit for individuals with no qualifying children, (2) revise tax credit eligibility rules for married individuals living apart and qualifying children claimed by another family member, and (3) repeal the denial of such credit for taxpayers with excess investment income.

tax relief infrastructure certainty act traffic relief act bill amends internal_revenue_code phase increase excise tax rate gasoline beginning rate cents gallon calendar years beginning similar increase cents gallon diesel fuel kerosene rates adjusted inflation calendar years bill phases increases allocations fuel excise tax amounts mass transit account highway_trust_fund calendar years beginning increased allocations adjusted inflation calendar years beginning bill makes permanent increase refundable portion child tax credit increase earned income tax credit families qualifying children earned income tax credit modified allow increase credit individuals qualifying children revise tax credit eligibility rules married individuals living apart qualifying children claimed family member repeal denial credit taxpayers excess investment income


Summary:
Fair Playing Field Act of 2015

This bill amends the Internal Revenue Code, with respect to the classification of workers for employment tax purposes, to:

 repeal the prohibition against issuance of regulations and guidance by the Department of the Treasury on workers' employment tax status (i.e., as an employee or as an independent contractor) enacted by the Revenue Act of 1978; direct Treasury to issue regulations and other guidance to clarify the proper employment status of workers for employment tax purposes; prohibit a retroactive assessment of employment tax, except with respect to certain skilled workers, for tax periods after December 31, 1978, and before a specified reclassification date for worker misclassifications, unless the taxpayer had no reasonable basis for not treating a worker as an employee; exempt certain individuals who perform professional services from treatment as employees for employment tax purposes; require taxpayers who hire independent contractors on a regular and ongoing basis to provide such contractors with notice of their federal tax obligations, the labor and employment law protections that do not apply to them, and their right to seek a status determination from the Internal Revenue Service (IRS); and eliminate reduced penalty provisions for failure to withhold income taxes for taxpayers who lack a reasonable basis for treating a worker as other than an employee (i.e., as an independent contractor). The IRS Commissioner must issue reports each fiscal year providing information and data on worker classification as an employee or an independent contractor.

fair playing field act bill amends internal_revenue_code respect classification workers employment tax purposes repeal prohibition issuance regulations guidance department_of_the_treasury workers employment tax status employee independent contractor enacted revenue act direct treasury issue regulations guidance clarify proper employment status workers employment tax purposes prohibit retroactive assessment employment tax respect certain skilled workers tax periods december specified reclassification date worker misclassifications taxpayer reasonable basis treating worker employee exempt certain individuals perform professional services treatment employees employment tax purposes require taxpayers hire independent contractors regular ongoing basis provide contractors notice federal tax obligations labor employment law protections apply right seek status determination internal_revenue_service irs eliminate reduced penalty provisions failure withhold income taxes taxpayers lack reasonable basis treating worker employee independent contractor irs commissioner issue reports fiscal year providing information data worker classification employee independent contractor


Summary:
Renewable Chemicals Act of 2015

This bill amends the Internal Revenue Code to allow a business-related tax credit for the production of renewable chemicals. The bill defines "renewable chemical" as any chemical that: (1) is produced in the United States from renewable biomass; (2) is sold or used for the production of chemical products, polymers, plastics, or formulated products or as chemicals, polymers, plastics, or formulated products; (3) has a biobased content of 95% or higher; (4) is the product of, or reliant upon, biological or thermal conversion of renewable biomass; (5) is not sold or used for the production of any food, feed, or fuel; and (6) is not a combination of certain specified renewable chemicals.

The bill also allows a tax credit for investment in renewable chemical production facilities.

The bill requires the Department of the Treasury to establish a program to allocate renewable chemical tax credit amounts to eligible taxpayers and imposes an aggregate limit on the amount of credits that may be allocated to not more than $500 million during the 5-year period after enactment of this Act.

renewable chemicals act bill amends internal_revenue_code allow business related tax credit production renewable chemicals bill defines renewable chemical chemical produced united_states renewable biomass sold production chemical products polymers plastics formulated products chemicals polymers plastics formulated products biobased content higher product biological thermal conversion renewable biomass sold production food feed fuel combination certain specified renewable chemicals bill allows tax credit investment renewable chemical production facilities bill requires department_of_the_treasury establish program allocate renewable chemical tax credit amounts eligible taxpayers imposes aggregate limit credits allocated million year period enactment act


Summary:
Philanthropic Facilitation Act

This bill amends the Internal Revenue Code to: (1) expand the definition of, and requirements relating to, "program-related investments" made by private foundations to for-profit entities to further certain charitable purposes; (2) allow a judicial determination (i.e., declaratory judgment) as to whether investments in any entity qualify as program-related investments; (3) require expanded reporting by for-profit entities that receive program-related investments of their gross income, expenses, disbursements, and other information; and (4) allow public inspection of any petition seeking a determination that an investment by a private foundation is a program-related investment and of any information reported by organizations receiving program-related investments.

philanthropic facilitation act bill amends internal_revenue_code expand definition requirements relating program related investments private foundations profit entities certain charitable purposes allow judicial determination declaratory judgment investments entity qualify program related investments require expanded reporting profit entities receive program related investments gross income expenses disbursements information allow public inspection petition seeking determination investment private foundation program related investment information reported organizations receiving program related investments


Summary:
Full Expensing Act of 2015

This bill amends the Internal Revenue Code to expand the expensing allowance for certain depreciable business property (section 179 property) by: (1) redefining "section 179 property" to include tangible property or computer software that is acquired by purchase for use in a trade or business or for the production of income, and (2) repealing the dollar limitation on the amount of such property that may be deducted as an expense in the current taxable year.

expensing act bill amends internal_revenue_code expand expensing allowance certain depreciable business property section property redefining section property include tangible property computer software acquired purchase use trade business production income repealing dollar limitation property deducted expense current taxable year


Summary:
Protecting Charitable Contributions Act of 2015

This bill provides that the definitions and regulations in effect on January 1, 2015, relating to the substantiation of deductible charitable contributions in excess of $250, shall apply on and after the enactment date of the bill. The Internal Revenue Service shall not issue, revise, or finalize any regulation, revenue ruling, or other guidance relating to such definitions and regulations.

protecting charitable contributions act bill provides definitions regulations effect january relating substantiation deductible charitable contributions excess shall apply enactment date bill internal_revenue_service shall issue revise finalize regulation revenue ruling guidance relating definitions regulations


Summary:
Charities Helping Americans Regularly Throughout the Year Act

This bill amends the Internal Revenue Code to modify several tax provisions affecting charitable contributions and tax-exempt organizations.

The bill excludes from the gross income of an individual who is at least 70-1/2 years of age up to $100,000 in distributions from an individual retirement plan to a donor-advised fund (DAF).

(A DAF is a fund or account that is separately identified by reference to contributions of a donor or donors. The account is owned and controlled by a sponsoring charitable organization, while the donor retains advisory privileges with respect to the distribution and investment of funds in the account.)

Sponsors of DAFs must disclose in their returns specified details regarding: (1) policies on inactive or dormant funds, and (2) average aggregate contributions to and grants made from the funds during the most recent three-year period.

The bill reduces from 2% to 1% the excise tax on the investment income of private foundations and eliminates a provision that reduces the rate to 1% if a foundation meets certain distribution requirements.

Tax-exempt organizations must file their returns in electronic form, and the Internal Revenue Service (IRS) must make the returns available to the public in a machine readable format as soon as practicable. The IRS may delay the requirement for up to two years for certain small organizations.

The IRS may determine the standard mileage rate for deducting the cost of using a passenger automobile for charitable purposes (currently set by statute at 14 cents per mile), and the rate may not be less than the rate for medical purposes (19 cents per mile for 2016).

The bill exempts certain philanthropic business holdings from the tax on excess business holdings of private foundations if a foundation meets requirements for exclusive ownership, donating all profits to charity, and independent operation.

charities helping americans regularly year act bill amends internal_revenue_code modify tax provisions affecting charitable contributions tax exempt organizations bill excludes gross income individual years age distributions individual retirement plan donor advised fund fund account separately identified reference contributions donor donors account owned controlled sponsoring charitable organization donor retains advisory privileges respect distribution investment funds account sponsors disclose returns specified details policies inactive funds average aggregate contributions grants funds recent year period bill reduces excise tax investment income private foundations eliminates provision reduces rate foundation meets certain distribution requirements tax exempt organizations file returns electronic form internal_revenue_service irs returns available public machine readable format soon practicable irs delay requirement years certain small organizations irs determine standard mileage rate deducting cost passenger automobile charitable purposes currently set statute cents mile rate rate medical purposes cents mile bill exempts certain philanthropic business holdings tax excess business holdings private foundations foundation meets requirements exclusive ownership donating profits charity independent operation


Summary:
Technical Corrections Act of 2016

This bill makes technical and clerical amendments to:

 the Protecting Americans From Tax Hikes Act of 2015; the Consolidated Appropriations Act, 2016; the Fixing America's Surface Transportation Act; the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015; the Stephen Beck, Jr., ABLE Act of 2014; the American Taxpayer Relief Act of 2012; the United States-Korea Free Trade Agreement Implementation Act; and other specified provisions of the Internal Revenue Code. The bill also amends various provisions in the Internal Revenue Code that are not used in computing current tax liabilities (referred to as deadwood provisions).

technical corrections act bill makes technical clerical amendments consolidated_appropriations_act fixing_america surface_transportation veterans health care choice improvement act able act american taxpayer relief act specified provisions internal_revenue_code bill amends provisions internal revenue code computing current tax liabilities referred deadwood provisions


Summary:
Multi-State Worker Tax Fairness Act of 2016

This bill prohibits a state from imposing an income tax on the compensation of a nonresident individual for any period in which such individual is not physically present in or working in such state or from deeming such nonresident individual to be present in or working in such state on the grounds that: (1) such individual is present at or working at home for convenience, or (2) such individual's work at home fails any convenience of the employer test or any similar test.

multi state worker tax fairness act bill prohibits state imposing income tax compensation nonresident individual period individual physically present working state deeming nonresident individual present working state grounds individual present working home convenience individual work home fails convenience employer test similar test


Summary:
Empowering Employees through Stock Ownership Act

This bill amends the Internal Revenue Code to allow an employee to elect to defer, for income tax purposes, income attributable to certain stock transferred to the employee by an employer.

The employee may defer the inclusion of income from the stock until the year that includes the earliest of the dates on which:

 the stock is sold, exchanged, or otherwise transferred; the employee becomes an excluded employee; stock of the corporation becomes readily tradable on an established securities market; seven years has passed after the rights of the employee in the stock are transferrable or are not subject to a substantial risk of forfeiture, whichever occurs earlier; or the employee elects to include the amount in income. The stock must meet specified requirements and be transferred to the employee from an eligible corporation in connection with the performance of services as an employee.

A corporation is eligible if: (1) no stock of the corporation is readily tradable on an established securities market during the year or any preceding year, and (2) it has a written plan under which at least 80% of all employees have the same rights and privileges to receive stock for the year.

Employees are excluded if they are or have been: (1) a 1% owner, the chief executive officer, or the chief financial officer of the corporation; (2) a family member of the specified individuals; (3) or one of the four highest compensated officers of the corporation.

The corporation transferring stock must notify employees regarding the option of deferring income and meet specified withholding and reporting requirements.

empowering employees stock ownership act bill amends internal_revenue_code allow employee elect defer income tax purposes income attributable certain stock transferred employee employer employee defer inclusion income stock year includes earliest dates stock sold exchanged transferred employee excluded employee stock corporation readily tradable established securities market seven years passed rights employee stock subject substantial risk forfeiture whichever occurs earlier employee elects include income stock meet specified requirements transferred employee eligible corporation connection performance services employee corporation eligible stock corporation readily tradable established securities market year preceding year written plan employees rights privileges receive stock year employees excluded owner chief executive officer chief financial officer corporation family member specified individuals highest compensated officers corporation corporation transferring stock notify employees option deferring income meet specified withholding reporting requirements


Summary:
Voluntary Check-off Program Participation Act

This bill prohibits mandatory or compulsory check-off programs and requires producer participation in the programs to be voluntary at the point of sale. (A check-off program is a program to promote and provide research and information for a particular agricultural commodity without reference to specific producers or brands. The Department of Agriculture oversees the programs, which are requested and funded by industry.)

program participation act bill prohibits mandatory compulsory check programs requires producer participation programs voluntary point sale check program program promote provide research information particular agricultural commodity reference specific producers department_of_agriculture oversees programs requested funded industry


Summary:
Bringing Business Back Act of 2016

This bill amends the Internal Revenue Code to allow income or gain attributable to certain real property to be excluded from gross income for a one-year period in which the income attributable to the real property exceeds the pre-depreciation expenses attributable to the property.

The exclusion applies to real property that has been certified by the state or local zoning authority and any economic development board as: (1) zoned for commercial use, (2) undeveloped and vacant during the two-year period ending on the date of certification, and (3) located within a qualified census tract.

A "qualified census tract" is any census tract that: (1) has an average poverty rate exceeding the national average poverty rate or an unemployment rate above the national unemployment rate; and (2) exhibits another condition of distress, such as deteriorating infrastructure or population decline.

A census tract is also qualified if it is located in a rural community that: (1) has an unemployment rate of at least 6%, and (2) in which at least 50% of the houses were constructed before 1980.

bringing business act bill amends internal_revenue_code allow income gain attributable certain real property excluded gross income year period income attributable real property exceeds pre depreciation expenses attributable property exclusion applies real property certified state local zoning authority economic development board zoned commercial use undeveloped vacant year period ending date certification located qualified census tract qualified census tract census tract average poverty rate exceeding national average poverty rate unemployment rate national unemployment rate exhibits condition distress deteriorating infrastructure population decline census tract qualified located rural community unemployment rate houses constructed


Summary:
Protect Family Farms and Businesses Act

This bill prohibits proposed Internal Revenue Service regulations published on August 4, 2016, relating to restrictions on liquidation of an interest with respect to estate, gift, and generation-skipping transfer taxes from taking effect. The bill prohibits funds from being used to finalize, implement, administer, or enforce the proposed regulations or any substantially similar regulations.

protect family farms bill prohibits proposed internal_revenue_service regulations published august relating restrictions liquidation interest respect estate gift generation skipping transfer taxes taking effect bill prohibits funds finalize implement administer enforce proposed regulations substantially similar regulations


Summary:
Tax Technical Corrections Act of 2016

This bill makes technical and clerical amendments to:

 the Protecting Americans From Tax Hikes Act of 2015; the Consolidated Appropriations Act, 2016; the Fixing America's Surface Transportation Act; the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015; the Stephen Beck, Jr., ABLE Act of 2014; the American Taxpayer Relief Act of 2012; the United States-Korea Free Trade Agreement Implementation Act; the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU); the American Jobs Creation Act of 2004; provisions of the Internal Revenue Code related to partnership audit rules; the Bipartisan Budget Act of 2015; the Energy Policy Act of 2005; and other specified provisions of the Internal Revenue Code. The bill also amends various provisions in the Internal Revenue Code that are not used in computing current tax liabilities (referred to as deadwood provisions).

tax technical corrections act bill makes technical clerical amendments consolidated_appropriations_act fixing_america surface_transportation veterans health care choice improvement act able act american taxpayer relief act safe accountable flexible efficient transportation equity act legacy users safetea american_jobs_creation_act provisions internal revenue code related partnership audit rules bipartisan_budget_act energy policy act specified provisions internal_revenue_code bill amends provisions internal revenue code computing current tax liabilities referred deadwood provisions


Summary:
No Windfalls for Government Service Act

This bill amends the Internal Revenue Code to establish a $1 million lifetime limitation on the nonrecognition of a taxpayer's gains from the sale of property pursuant to a certificate of divesture to comply with conflict-of-interest requirements for certain federal government positions.

government service act bill amends internal_revenue_code establish million lifetime limitation nonrecognition taxpayer gains sale property pursuant certificate comply conflict interest requirements certain federal government positions


Summary:
Progressive Consumption Tax Act of 2016

This bill amends the Internal Revenue Code to impose a consumption tax of 10% of the taxable amount of domestic goods and services. It exempts from such tax certain goods and services exported or used outside the United States.

It also lowers individual and corporate income tax rates. The bill repeals specified income tax credits and deductions, except for the deductions for mortgage interest, charitable contributions, state and local income taxes, gambling losses, alimony payments, and investment interest.

 The bill: (1) provides for a family allowance of up to $100,000 for married individuals filing a joint tax return, (2) allows a rebate for U.S. taxpayers consisting of an earned income amount and a child benefit amount, and (3) provides for a refund of excess consumption tax revenue (net consumption tax revenues that exceed 10% of gross domestic product in a calendar year) to individual taxpayers.

bill amends internal_revenue_code impose consumption tax taxable domestic goods services exempts tax certain goods services exported outside united_states lowers individual corporate income tax rates bill repeals specified income tax credits deductions deductions mortgage interest charitable contributions state local income taxes gambling losses payments investment interest bill provides family allowance married individuals filing joint tax return allows rebate taxpayers consisting earned income child benefit provides refund excess consumption tax revenue net consumption tax revenues exceed gross domestic product calendar year individual taxpayers


Summary: Criminal Alien Accountability Act - Amends the Immigration and Nationality Act to establish minimum imprisonment terms for specified categories of aliens subject to criminal fines, imprisonment, or both, for reenrty as removed aliens. (Such provision does not apply to aliens removed for security or terrorist grounds.) Subjects an individual who knowingly aids or conspires to allow, procure, or permit any such alien to reenter the United States to criminal penalty, the same imprisonment term as applies to the alien so aided, or both.

criminal alien accountability act amends immigration nationality act establish minimum imprisonment terms specified categories aliens subject criminal fines imprisonment removed aliens provision apply aliens removed security terrorist grounds subjects individual knowingly aids conspires allow procure permit alien reenter united_states criminal penalty imprisonment term applies alien aided


Summary: American Child Support Enforcement Immigration Act of 2006 - Amends the Immigration and Nationality Act to prohibit the Secretary of Homeland Security (Secretary) from approving a family-based immigration petition or fiance/fiancee nonimmigrant petition by a petitioner certified by the Secretary of Health and Human Services as owing child support arrearages. Authorizes the Secretary to revoke a previously-approved petition (if a visa has not been issued or a status adjustment has not been effected) if such petition would not have been approved had the provisions of this Act been in effect.

amends immigration nationality act prohibit secretary homeland_security secretary approving family based immigration petition fiance fiancee nonimmigrant petition petitioner certified secretary health_and_human_services owing child support arrearages authorizes secretary revoke previously approved petition visa issued status adjustment effected petition approved provisions act effect


Summary: Illegal Immigration Enforcement and Social Security Protection Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require inclusion of encrypted machine-readable electronic identification strips on Social Security cards. Requires the Commissioner of Social Security to: (1) develop the strip in a manner that enables employers to access the Employment Eligibility Database (EED) established by this Act; and (2) transmit to the Secretary of Homeland Security necessary information from an individual's application for a Social Security card or number for inclusion in the EED. Directs the Secretary to establish and maintain the EED. Requires the EED to include data on the citizenship status and work and residency eligibility of noncitizens authorized to work in the United States. Restricts access to EED information. Prohibits individuals from commencing employment with a U.S. employer absent a Social Security card that meets the requirements of this Act and presentation of such card to the employer. Prohibits employers from hiring individuals absent verification of identity and work authorization. Authorizes the Secretary to: (1) assess penalties against employers who knowingly hire unauthorized workers or fail to comply with verification procedures; and (2) bring civil actions against those who fail to pay assessments or otherwise violate this Act. Establishes criminal penalties for such violations. Requires integration of Border Patrol and Federal Bureau of Investigation (FBI) fingerprint databases. Prohibits this Act from being construed to establish a national identification card.

illegal immigration enforcement social security protection act amends title old age survivors disability insurance social security act require inclusion encrypted machine readable electronic identification strips social_security cards requires commissioner social_security develop strip manner enables employers access established act transmit secretary homeland_security necessary information individual application social_security card number inclusion directs secretary establish maintain requires include data citizenship status work residency eligibility noncitizens authorized work united_states restricts access information prohibits individuals commencing employment employer absent social_security card meets requirements act presentation card employer prohibits employers hiring individuals absent verification identity work authorization authorizes secretary assess penalties employers knowingly hire unauthorized workers fail comply verification procedures bring civil actions fail pay assessments violate act establishes criminal penalties violations requires integration border_patrol federal_bureau_of_investigation fbi fingerprint databases prohibits act construed establish national identification card


Summary: Amends the National Defense Authorization Act for Fiscal Year 2006 to increase from 50 to 300, for FY2007-FY2009 only, the number of Iraqi and Afghan translators working directly with U.S. Armed Forces who may be provided special immigrant status under the Immigration and Nationality Act.

amends national_defense_authorization_act fiscal year increase fy2007 fy2009 number iraqi afghan translators working directly provided special immigrant status immigration_and_nationality_act


Summary: Amends the Immigration and Nationality Act to provide that an alien who fails to appear at a removal proceeding shall be fined and imprisoned for not less than one year and not more than four years (or 10 years if deportable under smuggling, security, criminal, or document falsification grounds).

amends immigration nationality act provide alien fails appear removal proceeding shall fined imprisoned year years years deportable smuggling security criminal document falsification grounds


Summary: Amends the Immigration and Nationality Act to establish a criminal penalty for an alien permitted to depart voluntarily from the United States who: (1) fails to do so within the time period specified (currently, subject to civil penalty only); or (2) after such departure, illegally reenters, attempts to reenter, or is present in the United States.

amends immigration nationality act establish criminal penalty alien permitted depart voluntarily united_states fails time period specified currently subject civil penalty departure illegally reenters attempts reenter present united_states


Summary: Citizenship Reform Act of 2007 - Amends the Immigration and Nationality Act to limit automatic citizenship at birth to a child born in the United States who was born: (1) in wedlock in the United States to a parent who is a U.S. citizen or national or is an alien lawfully admitted for permanent residence who maintains such residence; (2) out of wedlock in the United States to a mother who is a U.S. citizen or national or is an alien lawfully admitted for permanent residence who maintains such residence; or (3) out of wedlock in the United States to a father who is a U.S. citizen or national or is an alien lawfully admitted for permanent residence who maintains such residence, but only if a blood relationship between the father and the child is established by clear and convincing evidence, the father had U.S. nationality or was a U.S. permanent resident at the time of the child's birth, the father (unless deceased) has agreed in writing to provide financial support for the child until the child reaches 18, and, while the child is under 18, the father either acknowledges paternity under oath or paternity is established in court. Defines "born in wedlock" to exclude common law marriages.

citizenship reform act amends immigration nationality act limit automatic citizenship birth child born united_states born united_states parent citizen national alien lawfully admitted permanent residence maintains residence united_states mother citizen national alien lawfully admitted permanent residence maintains residence united_states father citizen national alien lawfully admitted permanent residence maintains residence blood relationship father child established clear convincing evidence father nationality permanent resident time child birth father deceased agreed writing provide financial support child child reaches child father acknowledges paternity oath paternity established court defines born exclude common law marriages


Summary: Amends the Immigration and Nationality Act to revise the description of inadmissibility based upon six-month or one-year unlawful U.S. presence to provide that an alien shall be inadmissible who has been unlawfully present in the United States for: (1) a period of more than 180 days but less than one year unless the alien has remained outside of the United States for a period totaling at least three years; or (2) one year or more unless the alien has remained outside of the United States for a period totaling at least 10 years.

amends immigration nationality act revise description inadmissibility based month year unlawful presence provide alien shall inadmissible unlawfully present united_states period days year alien remained outside united_states period totaling years year alien remained outside united_states period totaling years


Summary: Employment Eligibility Verification and Anti-Identity Theft Act - Directs the Commissioner of the Social Security Administration to notify a person or entity each time that the combination of name and Social Security account number it has submitted for an individual does not match Social Security Administration records. Directs the Secretary of Homeland Security (HS) to notify a person or entity each time that: (1) an immigration status or employment authorization document presented or referenced by an individual during the employment eligibility verification process was assigned to another person; or (2) there is no agency record that the document was assigned to any person. Directs the HS Secretary to establish a system, meeting specified requirements, for verifying an individual's identity and employment eligibility. Requires any person or entity that has received a discrepancy notice under this Act to verify the individual's employment authorization and identity through such system. Places the burden of resolving errors in the verification mechanism on the individual whose employment eligibility and identity have not been verified. Requires the individual to terminate any employment in the United States if a final nonverification is received. Requires the Commissioner of Social Security to provide the last known name, address, and location of a nonverified individual to the Secretary of Homeland Security. Provides for sanctions against employers who continue to employ an individual after receiving a final nonverification. Amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to require any person or entity that receives written notice about more than 20 individuals in one calendar year to: (1) participate in a basic pilot project for employment eligibility confirmation; and (2) comply with specified terms and conditions. Provides for: (1) a remedy under the Federal Tort Claims Act for job dismissals occasioned by verification mechanism errors; and (2) protection from civil and criminal liability for persons or entities that take action in good faith on the basis of verification mechanism information.

employment eligibility verification commissioner social_security_administration notify person entity time combination social_security account number submitted individual match social_security_administration records directs secretary homeland_security notify person entity time immigration status employment authorization document presented referenced individual employment eligibility verification process assigned person agency record document assigned person directs secretary establish system meeting specified requirements verifying individual identity employment eligibility requires person entity received discrepancy notice act verify individual employment authorization identity system places burden resolving errors verification mechanism individual employment eligibility identity verified requires individual terminate employment united_states final nonverification received requires commissioner social_security provide known address location individual secretary homeland_security provides sanctions employers continue employ individual receiving final nonverification amends illegal immigration reform immigrant responsibility act require person entity receives written notice individuals calendar year participate basic pilot project employment eligibility confirmation comply specified terms conditions provides remedy federal tort claims act job verification mechanism errors protection civil criminal liability persons entities action good faith basis verification mechanism information


Summary: Amends the Immigration and Nationality Act to exempt elementary and secondary schools from the fee imposed on employers filing petitions for temporary nonimmigrant workers under the H-1B (specialty occupations) visa program.

amends immigration nationality act exempt elementary secondary schools fee imposed employers filing petitions temporary nonimmigrant workers h-1b specialty occupations visa program


Summary: Social Security for Americans Only Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to: (1) prohibit the wages earned, and self-employment income derived, by individuals who are not U.S. citizens or nationals from being credited for coverage under the OASDI program; and (2) authorize the President to enter into (totalization) agreements with other nations to resolve entitlement and participation questions about their respective social security systems, taking into account such limitation on the crediting of wages and self-employment.

social_security americans act amends title old age survivors disability insurance oasdi social security act ssa prohibit wages earned self employment income derived individuals citizens nationals credited coverage oasdi program authorize president enter totalization agreements nations resolve entitlement participation questions respective social security systems taking account limitation crediting wages self employment