Interest, Dividends, Interest Rates
US Congress 116th Congress
A bill to amend the Internal Revenue Code of 1986 to ensure that bonds used to finance professional stadiums are not treated as tax-exempt bonds. [S.1242]
[Finance ]
[Taxes ]
[Sports ]
Prohibits a professional stadium bond from being treated as a tax-exempt state or local bond. A "professional stadium bond" is used to finance or refinance a facility or real property used as a stadium or arena for professional sports exhibitions, games, or training.
Sponsored by: Sen. Cory A. Booker
Read Twice And Referred To The Committee On Finance. on 04/30/2019
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National Oceanic and Atmospheric Administration Commissioned Officer Corps Amendments Act of 2019 [HB-2406]
[Science ]
[Labor, Jobs, Employment ]
[Military ]
[Veterans ]
[Education ]
[Retirement ]
Addresses the National Oceanic and Atmospheric Administration Commissioned Officer Corps. The bill sets forth new requirements for the corps, including requirements concerning commissioned grades and operational strength numbers, obligated service, training and physical fitness, education loan assistance, recruitment, hiring and promotions, retirement and separation, and other workforce issues.
Sponsored by: Rep. Jamie Raskin
Subcommittee On Water, Oceans, And Wildlife Discharged. on 09/18/2019
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Protecting Consumers from Unreasonable Credit Rates Act of 2019 [S.1230]
[Consumer Protection ]
[Finance ]
[Crime ]
Prohibits a creditor from extending credit to a consumer under an open end consumer credit plan (i.e., credit card) for which the fee and interest rate exceeds 36%. The bill also sets forth criminal penalties for violations and empowers state Attorneys General to enforce the bill. Credit card billing statements must include the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).
Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/29/2019
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Access Business Credit Act of 2019 [S.1226]
[Finance ]
[Taxes ]
[Small Business ]
[Agriculture ]
Modifies the requirements for calculating taxable income to exclude from the gross income of certain banks interest received on small business loans of up to $5 million. The bill applies to loans that are (1) secured by land situated in the United States that is used or held by the small business in connection with the active conduct of a farming business, or (2) incurred in the ordinary course of the trade or business of the small business. To be eligible for the exclusion, the bank must have less than $50 billion in assets at the closing of the
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Sponsored by: Sen. Mike Rounds
Read Twice And Referred To The Committee On Finance. on 04/29/2019
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Affordable Loans for Any Student Act [HB-2065]
[Student Loans ]
[Education ]
[Budget and Spending ]
[Consumer Protection ]
Addresses repayment options, loan disclosures, and loan counseling for student loans. The bill revises requirements concerning repayment options for student loan borrowers. For instance, the bill terminates interest capitalization and origination fees for Federal Direct Loans, provides assistance to low-income borrowers or borrowers who are delinquent on loan payments, and replaces the existing income-based repayment plans with two new plans. Under the new plans, borrowers may choose (1) a fixed repayment plan with equal monthly payments paid over
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Sponsored by: Rep. Rosa L. DeLauro
Introduced In House on 04/03/2019
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Empowering States' Rights To Protect Consumers Act of 2019 [S.1006]
[Consumer Protection ]
[Finance ]
[Taxes ]
Limits the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides.
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/03/2019
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Affordable Loans for Any Student Act [S.1002]
[Student Loans ]
[Education ]
[Budget and Spending ]
[Consumer Protection ]
Addresses repayment options, loan disclosures, and loan counseling for student loans. The bill revises requirements concerning repayment options for student loan borrowers. For instance, the bill terminates interest capitalization and origination fees for Federal Direct Loans, provides assistance to low-income borrowers or borrowers who are delinquent on loan payments, and replaces the existing income-based repayment plans with two new plans. Under the new plans, borrowers may choose (1) a fixed repayment plan with equal monthly payments paid over
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Sponsored by: Sen. Ron Wyden
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. on 04/03/2019
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A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. [S.1162]
[Taxes ]
[Budget and Spending ]
[Student Loans ]
[Medicare and Medicaid ]
[Healthcare ]
[Veterans ]
[Disabilities ]
[Military ]
Makes permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025. The bill makes permanent provisions that reduce individual tax rates, modify the taxation of the unearned income of children, allow a deduction for qualified business income of pass-through entities, increase the standard deduction, increase and modify the child tax credit, increase the limitation for certain charitable contributions, allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals
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Sponsored by: Sen. Martha McSally
Read Twice And Referred To The Committee On Finance. on 04/11/2019
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PSLF Technical Corrections Act of 2019 [S.1175]
[Student Loans ]
[Education ]
[Budget and Spending ]
Revises the Public Service Loan Forgiveness (PSLF) program under the Federal Direct Loan program. Under current law, the PSLF program forgives the balance of a borrower's student debt after the borrower makes 120 qualifying loan payments under specified repayment plans while employed in a public service job. The bill expands the program to include payments under graduated or extended plans as payments that qualify a borrower for loan forgiveness under the PSLF program. The bill requires the Department of Education (ED) to provide each borrower who
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Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. on 04/11/2019
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Promotion and Expansion of Private Employee Ownership Act of 2019 [HB-2258]
[Taxes ]
[Labor, Jobs, Employment ]
[Small Business ]
[Finance ]
[Economic Development ]
Expands tax incentives and federal assistance for employee stock ownership plans (ESOPs) that are sponsored by S corporations. The bill provides additional tax incentives for ESOPs by (1) extending to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP; and (2) allowing a tax deduction for 50% of the interest received by a bank on loans to S corporation-sponsored ESOPs for the purchase of employer securities. The Department of the Treasury must establish
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Sponsored by: Rep. Earl Blumenauer
Introduced In House on 04/10/2019
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Student Loan Refinancing Act [HB-2186]
[Student Loans ]
[Education ]
Allows a borrower of a Federal Direct Loan program loan to modify the interest rate on the federal student loan to the current applicable rate. That interest rate is fixed for the life of the loan, unless the borrower elects to modify it again.
Sponsored by: Rep. Barbara Lee
Introduced In House on 04/09/2019
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Clyde-Hirsch-Sowers RESPECT Act Restraining Excessive Seizure of Property through the Exploitation of Civil asset forfeiture Tools Act [S.1099]
[Finance ]
[Taxes ]
[Law Enforcement ]
[National Security ]
[Crime ]
Revises the authority and procedures that the Internal Revenue Service (IRS) uses to seize property that has been structured to avoid Bank Secrecy Act (BSA) reporting requirements. The IRS may only seize property it suspects has been structured to avoid BSA reporting requirements if the property was derived from an illegal source or the funds were structured to conceal the violation of a criminal law or regulation other than structuring transactions to evade BSA reporting requirements. Within 30 days of seizing property, the IRS must (1) make a
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Sponsored by: Sen. Sherrod Brown
Read Twice And Referred To The Committee On Finance. on 04/09/2019
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Empowering Students Through Enhanced Financial Counseling Act [HB-2129]
[Student Loans ]
[Education ]
Modifies student loan counseling requirements applicable to institutions of higher education (IHEs). Currently, an IHE must provide entrance counseling to a student who is a first-time federal student loan borrower. replaces required entrance counseling with required annual financial counseling concerning information on the terms, conditions, and responsibilities of the grant or loan. Also, it expands the required recipients of such annual counseling to include, in addition to student borrowers, Pell Grant recipients and parent PLUS Loan borrowers.
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Sponsored by: Rep. Suzanne Bonamici
Introduced In House on 04/08/2019
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Affordable College Textbook Act [S.1036]
[Education ]
[Student Loans ]
[Funding ]
[Grants ]
[Technology and Innovation ]
[Budget and Spending ]
[Consumer Protection ]
Directs the Department of Education to make grants to institutions of higher education or states to support projects that expand the use of open textbooks in order to achieve savings for students while maintaining or improving instruction and student learning outcomes. An open textbook is an educational resource that either resides in the public domain or has been released under an intellectual license that permits its free use, reuse, modification, and sharing with others.
Sponsored by: Sen. Angus S. King
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. on 04/04/2019
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Freedom Financing Act [HB-2079]
[Finance ]
[Consumer Protection ]
[Small Business ]
Restricts certain banks, credit unions, and payment card networks from refusing to do business with a person based on reputational considerations.
Sponsored by: Rep. Alexander Mooney
Introduced In House on 04/04/2019
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Affordable College Textbook Act [HB-2107]
[Education ]
[Student Loans ]
[Funding ]
[Grants ]
[Technology and Innovation ]
Directs the Department of Education to make grants to institutions of higher education or states to support projects that expand the use of open textbooks in order to achieve savings for students while maintaining or improving instruction and student learning outcomes. An open textbook is an educational resource that either resides in the public domain or has been released under an intellectual license that permits its free use, reuse, modification, and sharing with others.
Sponsored by: Rep. Mark DeSaulnier
Introduced In House on 04/04/2019
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Setting Every Community Up for Retirement Enhancement Act of 2019 [HB-1994]
[Finance ]
[Taxes ]
[Labor, Jobs, Employment ]
[Retirement ]
[Small Business ]
[Healthcare ]
[Education ]
[Pensions ]
[Medicare and Medicaid ]
[Budget and Spending ]
TITLE I--EXPANDING AND PRESERVING RETIREMENT SAVINGS (Sec. 101) The bill amends the Internal Revenue Code to revise requirements for multiple employer pension plans and pooled employer plans. It provides that failure of one employer in a multiple employer retirement plan to meet plan requirements will not cause all plans to fail and that assets in the failed plan will be transferred to another plan. It also establishes pooled employer plans that do not require a common characteristic. (Sec. 102) The bill increases the cap for automatic contributions
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Sponsored by: Rep. Earl Blumenauer
Received In The Senate. on 06/03/2019
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Taxpayer First Act of 2019 [S.928]
[Taxes ]
[Technology and Innovation ]
[Cybersecurity ]
[Funding ]
[Grants ]
[Consumer Protection ]
[Data Privacy ]
Modifies requirements for the Internal Revenue Service (IRS) regarding its organizational structure, customer service, enforcement procedures, management of information technology, and use of electronic systems. The bill includes provisions that establish the IRS Independent Office of Appeals to resolve federal tax controversies without litigation; require the IRS to develop a comprehensive customer service strategy; continue the IRS Free File Program; exempt certain low-income taxpayers from payments required to submit an offer-in-compromise; modify
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Sponsored by: Sen. Susan M. Collins
Read Twice And Referred To The Committee On Finance. (sponsor Introductory Remarks On Measure: Cr S2091) on 03/28/2019
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✔
Taxpayer First Act of 2019 [HB-1957]
[Public Lands and National Parks ]
[Energy ]
[Budget and Spending ]
[Funding ]
[Grants ]
Establishes the National Parks and Public Land Legacy Restoration Fund to support deferred maintenance projects on federal lands. For FY2021-FY2025, there shall be deposited into the fund an amount equal to 50% of energy development revenues credited, covered, or deposited as miscellaneous receipts from oil, gas, coal, or alternative or renewable energy development on federal lands and waters. Deposited amounts must not exceed $1.9 billion for any fiscal year. The fund must be used for priority deferred maintenance projects in specified systems
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Sponsored by: Rep. Eleanor Holmes Norton
Became Public Law No: 116-152. on 08/04/2020
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Protecting Affordable Mortgages for Veterans Act of 2019 [HB-1988]
[Housing ]
[Veterans ]
[Finance ]
[Real Estate ]
[Insurance ]
Revises loan seasoning requirements related to a refinanced Department of Veterans Affairs (VA) housing loan. Under current law, the VA is prohibited from guaranteeing a refinanced home loan until the date that is the later of (1) the date on which the sixth monthly payment is made, or (2) the date that is 210 days after the first payment is made. modifies this date to (1) when the borrower has made six consecutive monthly payments, or (2) 210 days after the first payment is due.
Sponsored by: Rep. David Scott
Received In The Senate. Read Twice. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 143. on 07/10/2019