Income Tax Credits

Federal
US Congress 115th Congress

Today's American Dream Act [HB-1084] [Community Development ] [Technology and Innovation ] [Taxes ] [Small Business ] [Healthcare ] [Labor, Jobs, Employment ] [Education ] [Science ] [Telecommunications ] [Budget and Spending ] [Grants ] [Funding ] [Economic Development ] [Senior Citizens ] [Public Health ]
Today's American Dream Act This bill establishes new programs or amends existing programs related to workforce and community development. It directs: (1) the Department of Labor to award grants for job skills training for older individuals (older than age 45) and for workers in highly-skilled industries; and (2) the Department of Education to award scholarships to students pursuing degrees in science, technology, engineering, or mathematics (STEM) and teaching certifications. The bill also amends the Internal Revenue Code to: (1) expand and extend (continued...)

  

Sponsored by: Rep. Barbara Lee Referred To The Subcommittee On General Farm Commodities And Risk Management. on 03/10/2017

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US Congress 115th Congress

Obamacare Replacement Act [HB-1072] [Healthcare ] [Medicare and Medicaid ] [Taxes ] [Insurance ] [Public Health ]
Obamacare Replacement Act This bill amends the Internal Revenue Code, the Public Health Service Act, the Employee Retirement Income Security Act of 1974 (ERISA), and the Social Security Act to repeal certain provisions regarding health insurance, including: the requirement for individuals to maintain minimum essential coverage, limitations on insurers varying premiums by age or health status, requirements for health insurance to cover preexisting conditions, and the prohibition on lifetime or annual limits on benefits. The bill allows a refundable (continued...)

  

Sponsored by: Rep. Alexander Mooney Referred To The Subcommittee On Health. on 02/17/2017

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US Congress 115th Congress

SHUT Act of 2017 Stop Handouts to Unauthorized Taxpayers Act of 2017 [HB-1041] [Taxes ] [Immigration ] [Children and Youth ]
SHUT Act of 2017 Stop Handouts to Unauthorized Taxpayers Act of 2017 This bill amends the Internal Revenue Code to deny the refundable portion of the child tax credit to individuals unless they include their Social Security number on their tax return or otherwise demonstrate that they are authorized to be employed in the United States. The bill prohibits the Department of the Treasury or any delegate of Treasury from issuing an individual taxpayer identification number unless the supporting documentary evidence is submitted to a Treasury employee.

  

Sponsored by: Rep. Gus Bilirakis Introduced In House on 02/14/2017

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US Congress 115th Congress

Complete America's Great Trails Act [HB-1015] [Public Lands and National Parks ] [Taxes ] [Recreation ]
Complete America's Great Trails Act This bill amends the Internal Revenue Code to allow a tax credit for the fair market value of any National Scenic Trail conservation contribution. The Department of the Interior must study and report on the efficacy of such tax credit in completing, extending, and increasing the number of National Scenic Trails and the feasibility and cost of making such credit refundable and transferable.

  

Sponsored by: Rep. Gerald Connolly Referred To The Subcommittee On Federal Lands. on 02/24/2017

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US Congress 115th Congress

Rehabilitation of Historic Schools Act of 2017 [HB-922] [Education ] [Taxes ] [Construction ] [Community Development ] [Public Safety ]
Rehabilitation of Historic Schools Act of 2017 This bill amends the Internal Revenue Code to allow rehabilitation expenditures for any building which is a qualified public educational facility to qualify for the rehabilitation tax credit. A "qualified public educational facility" is a school facility which is part of a public elementary or secondary school and is owned by a private, for-profit corporation pursuant to a public-private partnership agreement with a state or local educational agency.

  

Sponsored by: Rep. Donald McEachin Introduced In House on 02/07/2017

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US Congress 115th Congress

Strong Families Act [S.344] [Family-Related Legislation ] [Taxes ] [Budget and Spending ] [Labor, Jobs, Employment ]
Strong Families Act This bill amends the Internal Revenue Code to: (1) allow certain employers a business-related tax credit for up to 25% of the amount of wages paid to their employees during any period (not exceeding 12 weeks) in which such employees are on family and medical leave, (2) limit the allowable amount of such credit to $3,000 per employee for any taxable year, and (3) terminate such credit two years after the enactment of this bill. The Government Accountability Office shall complete a study on the effectiveness of the tax credit for (continued...)

  

Sponsored by: Sen. Angus King Read Twice And Referred To The Committee On Finance. on 02/08/2017

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US Congress 115th Congress

Menstrual Equity For All Act of 2017 [HB-972] [Taxes ] [Healthcare ] [Labor, Jobs, Employment ] [Poverty ] [Criminal Justice ] [Public Health ] [Human Services ] [Funding ] [Grants ] [Law Enforcement ] [Public Safety ]
Menstrual Equity For All Act of 2017 This bill establishes a tax credit, a tax exclusion, and requirements that apply to the purchase or distribution of menstrual hygiene products. The bill amends the Internal Revenue Code to: (1) expand the tax exclusion for reimbursements from a health flexible spending arrangement to include amounts paid or incurred for menstrual hygiene products, and (2) allow a refundable tax credit of $120 for certain individuals who use menstrual hygiene products, subject to adjustments for inflation and a limitation based (continued...)

  

Sponsored by: Rep. Sean Maloney Referred To The Subcommittee On Crime, Terrorism, Homeland Security, And Investigations. on 03/02/2017

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US Congress 115th Congress

Common Sense Housing Investment Act of 2017 [HB-948] [Housing ] [Budget and Spending ] [Funding ] [Grants ] [Community Development ]
Common Sense Housing Investment Act of 2017 apply the savings from the enactment of this bill to the Housing Trust Fund, rental assistance programs, and the Public Housing Capital Fund. The Department of Housing and Urban Development must revise regulations for the Housing Trust Fund to: (1) increase the limitation on funds that are available for operating assistance for housing, (2) allow public housing agencies and tribally designated housing entities to be the recipients of grants that are allocated to a state or a state designated entity, and (continued...)

  

Sponsored by: Rep. Barbara Lee Introduced In House on 02/07/2017

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US Congress 115th Congress

Educational Opportunities Act [HB-895] [Education ] [Taxes ] [Funding ] [Budget and Spending ] [Children and Youth ]
Educational Opportunities Act This bill amends the Internal Revenue Code to allow individual taxpayers a tax credit for charitable contributions to a scholarship granting organization. The bill allows a maximum credit amount of $4,500 ($2,250 for a married individual filing a separate return). A "scholarship granting organization" is a tax-exempt entity whose exclusive purpose is to provide scholarships for the tuition and other education expenses of elementary and secondary school students from low income households (i.e., household income not (continued...)

  

Sponsored by: Rep. Andy Biggs Introduced In House on 02/06/2017

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US Congress 115th Congress

To extend the waiver of limitations with respect to excluding from gross income amounts received by wrongfully incarcerated individuals. [HB-885] [Taxes ] [Criminal Justice ] [Law Enforcement ] [Crime ]
To extend the waiver of limitations with respect to excluding from gross income amounts received by wrongfully incarcerated individuals. This bill amends the Protecting Americans from Tax Hikes Act of 2015 to extend the waiver of limitations on credits or refunds related to the exclusion from gross income of certain civil damages, restitution, or other monetary awards received by wrongfully incarcerated individuals.

  

Sponsored by: Rep. John Larson Introduced In House on 02/06/2017

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US Congress 115th Congress

Investing in Opportunity Act [S.293] [Economic Development ] [Taxes ] [Community Development ] [Finance ] [Small Business ] [Budget and Spending ] [Property Tax ]
Investing in Opportunity Act This bill amends the Internal Revenue Code to authorize the designation of opportunity zones in low-income communities and to provide tax incentives for investments in the zones, including deferring the recognition of capital gains that are reinvested in the zones. Governors may submit nominations for a limited number of opportunity zones to the Department of the Treasury for certification and designation. Governors must give particular consideration to areas that: are currently the focus of mutually reinforcing state, (continued...)

  

Sponsored by: Sen. Cory Booker Committee On Small Business And Entrepreneurship. Hearings Held. on 10/03/2018

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US Congress 115th Congress

Child Tax Credit Improvement Act [HB-821] [Taxes ] [Children and Youth ] [Family-Related Legislation ] [Budget and Spending ] [Poverty ]
Child Tax Credit Improvement Act This bill amends the Internal Revenue Code, with respect to the child tax credit, to: (1) allow taxpayers an increased $3,600 tax credit for each young child under the age of six (young child tax credit), subject to specified limitations based on adjusted gross income; (2) require the Department of the Treasury to establish a program to make advance payments of the young child tax credit; (3) modify the refundable portion of the child tax credit; and (4) require annual inflation adjustments for both the child tax (continued...)

  

Sponsored by: Rep. Raul Grijalva Introduced In House on 02/02/2017

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US Congress 115th Congress

Expand American Educational Opportunity Act of 2017 [HB-823] [Education ] [Student Loans ] [Taxes ]
Expand American Educational Opportunity Act of 2017 This bill amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a modified American Opportunity Tax Credit that: (1) allows an income tax credit of up to $2,500 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) allows a lifetime dollar limitation for the credit of $15,000 for all taxable years, and (3) increases the refundable portion of the credit to a maximum of $1,500. The (continued...)

  

Sponsored by: Rep. Raul Grijalva Introduced In House on 02/02/2017

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Federal
US Congress 115th Congress

Tax Credit Accountability Act of 2017 [HB-819] [Taxes ] [Immigration ] [Finance ]
Tax Credit Accountability Act of 2017 This bill amends the Internal Revenue Code to deny the earned income tax credit to any alien individual who is in an unlawful immigration status at any point during the taxable year.

  

Sponsored by: Rep. Matt Gaetz Introduced In House on 02/02/2017

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US Congress 115th Congress

Investing in Opportunity Act [HB-828] [Economic Development ] [Taxes ] [Community Development ] [Small Business ] [Budget and Spending ] [Finance ] [Housing ]
Investing in Opportunity Act This bill amends the Internal Revenue Code to authorize the designation of opportunity zones in low-income communities and to provide tax incentives for investments in the zones, including deferring the recognition of capital gains that are reinvested in the zones. Governors may submit nominations for a limited number of opportunity zones to the Department of the Treasury for certification and designation. Governors must give particular consideration to areas that: are currently the focus of mutually reinforcing state, (continued...)

  

Sponsored by: Rep. Steve Russell Introduced In House on 02/02/2017

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US Congress 115th Congress

Earned Income Tax Credit Improvement and Simplification Act 2017 [HB-822] [Taxes ] [Budget and Spending ] [Poverty ]
Earned Income Tax Credit Improvement and Simplification Act 2017 This bill amends the Internal Revenue Code, with respect to the earned income tax credit, to: (1) allow the credit for an individual who has no qualifying children, has attained the age of 21 but not 25, and is not a full-time student; (2) increase the credit rate and amount for individuals with no qualifying children; (3) allow the credit for an individual whose qualifying children do not have valid Social Security numbers; (4) revise eligibility rules relating to married individuals (continued...)

  

Sponsored by: Rep. Janice Schakowsky Introduced In House on 02/02/2017

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US Congress 115th Congress

Child Tax Credit Equity for Puerto Rico Act of 2017 [HB-798] [Taxes ] [Children and Youth ] [Family-Related Legislation ] [Poverty ]
Child Tax Credit Equity for Puerto Rico Act of 2017 This bill amends the Internal Revenue Code, with respect to the refundable portion of the child tax credit, to: (1) allow residents of Puerto Rico to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers, and (2) allow residents of Puerto Rico with one or two children to claim the refundable portion of the credit on the same basis as residents with three or more children.

  

Sponsored by: Rep. Jenniffer Gonzalez-Colon Introduced In House on 02/01/2017

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US Congress 115th Congress

Steel Industry Preservation Act [S.262] [Taxes ] [Energy ] [Manufacturing ] [Trade ] [Small Business ] [Economic Development ]
Steel Industry Preservation Act This bill amends the Internal Revenue Code to extend and modify the production tax credit for steel industry fuel. (Under current law, steel industry fuel is a fuel which is: (1) produced through a process of liquefying coal waste sludge and distributing it on coal, and (2) used as a feedstock for the manufacture of coke.) The bill modifies the tax credit for steel industry fuel to: extend the credit period and the placed-in-service date, revise the definition of "steel industry fuel" to allow blends of coal and petroleum (continued...)

  

Sponsored by: Sen. Robert Casey Read Twice And Referred To The Committee On Finance. on 02/01/2017

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US Congress 115th Congress

Steel Industry Preservation Act [HB-792] [Taxes ] [Energy ] [Manufacturing ] [Trade ] [Small Business ] [Economic Development ]
Steel Industry Preservation Act This bill amends the Internal Revenue Code to extend and modify the production tax credit for steel industry fuel. (Under current law, steel industry fuel is a fuel which is: (1) produced through a process of liquefying coal waste sludge and distributing it on coal, and (2) used as a feedstock for the manufacture of coke.) The bill modifies the tax credit for steel industry fuel to: extend the credit period and the placed-in-service date, revise the definition of "steel industry fuel" to allow blends of coal and petroleum (continued...)

  

Sponsored by: Rep. Ryan Costello Introduced In House on 02/01/2017

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US Congress 115th Congress

Housing America's Workforce Act of 2017 [HB-764] [Housing ] [Taxes ] [Labor, Jobs, Employment ] [Small Business ] [Community Development ] [Funding ] [Grants ] [Nonprofit ] [Economic Development ]
Housing America's Workforce Act of 2017 This bill amends the Internal Revenue Code to allow employers a business-related tax credit for up to 50% (100% for small business employers) of the qualified housing expenses paid for the benefit of their employees. The bill defines "qualified housing expenses" to include homeownership assistance and rental assistance. The bill limits the annual amount of such credit per employee to the lesser of $10,000 or 6% of an employee's home purchase price, or up to $5,000 for rental assistance, adjusted for inflation (continued...)

  

Sponsored by: Rep. Nydia Velazquez Introduced In House on 01/31/2017

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