Securities
US Congress 115th Congress
Stop Tax Haven Abuse Act [HB-1932]
[Finance ]
[Taxes ]
[Trade ]
[Small Business ]
[Cybersecurity ]
[Economic Development ]
[Law Enforcement ]
[National Security ]
[Crime ]
Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to: expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 04/05/2017
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Stop Tax Haven Abuse Act [S.851]
[Finance ]
[Taxes ]
[Trade ]
[International ]
[Small Business ]
[Investments ]
[Law Enforcement ]
[National Security ]
[Economic Development ]
[Crime ]
Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to: expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance
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Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Finance. on 04/05/2017
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US Congress 115th Congress
Carbon Capture Improvement Act of 2017 [S.843]
[Energy ]
[Taxes ]
[Climate Change ]
Carbon Capture Improvement Act of 2017 This bill amends the Internal Revenue Code to authorize the issuance of tax-exempt facility bonds for the financing of qualified carbon dioxide capture facilities. A "qualified carbon dioxide capture facility" is any equipment installed in an industrial carbon dioxide facility that satisfies specified capture and storage requirements and: (1) is used for the capture, treatment and purification, compression, transportation, or on-site storage of carbon dioxide produced by the industrial carbon dioxide facility;
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Sponsored by: Sen. Rob Portman
Read Twice And Referred To The Committee On Finance. on 04/05/2017
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A bill to amend the Federal Deposit Insurance Act to require the appropriate Federal banking agencies to treat certain municipal obligations as level 2B liquid assets, and for other purposes. [S.828]
[Finance ]
[Budget and Spending ]
A bill to amend the Federal Deposit Insurance Act to require the appropriate Federal banking agencies to treat certain municipal obligations as level 2B liquid assets, and for other purposes. This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as level 2B liquid assets if they are investment grade, liquid, and readily marketable. Under current law, corporate debt securities and publicly traded common-equity shares, but not municipal obligations, may be treated as level 2B liquid assets (which
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Sponsored by: Sen. Amy Klobuchar
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/05/2017
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Corporate EXIT Fairness Act Corporate EXpatriates and Inverters Tax Fairness Act [HB-1931]
[Taxes ]
[Trade ]
[International ]
[Finance ]
[Small Business ]
Corporate EXIT Fairness Act Corporate EXpatriates and Inverters Tax Fairness Act This bill amends the Internal Revenue Code to set forth rules governing corporate inversions (i.e., the practice of relocating a domestic corporation's legal domicile to a lower-tax nation while retaining its business activities in the higher-tax country of origin) and corporate expatriations. Specifically, the bill requires payment of tax on the deferred overseas profits of U.S. multinational corporations or partnerships before they reincorporate or organize in a foreign
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 04/05/2017
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Inclusive Prosperity Act of 2017 [S.805]
[Taxes ]
[Finance ]
[Investments ]
Inclusive Prosperity Act of 2017 This bill amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement;
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 04/03/2017
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Government Settlement Transparency and Reform Act [S.803]
[Taxes ]
[Finance ]
[Law Enforcement ]
[Budget and Spending ]
Government Settlement Transparency and Reform Act This bill amends the Internal Revenue Code to expand provisions relating to the nondeductibility of fines and penalties to prohibit a tax deduction for any amount paid or incurred to, or at the direction of, any governmental entity relating to the violation of any law or the investigation or inquiry into a potential violation of law. The bill exempts from such prohibition: (1) restitution or amounts paid to come into compliance with any law that was violated or otherwise involved in the investigation
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. (sponsor Introductory Remarks On Measure: Cr S2176-2177) on 04/03/2017
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Stronger Enforcement of Civil Penalties Act of 2017 [S.779]
[Finance ]
[Law Enforcement ]
[Consumer Protection ]
[Cybersecurity ]
[Criminal Justice ]
[Crime ]
Stronger Enforcement of Civil Penalties Act of 2017 This bill amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to increase civil and administrative monetary penalties for securities laws violations. The bill also adds a fourth tier of monetary penalties for violations by a person that, within the five-year period preceding the violation: (1) was criminally convicted for securities fraud; or (2) became subject to a judgment or order imposing monetary,
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. (sponsor Introductory Remarks On Measure: Cr S2153-2154) on 03/30/2017
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Expanding Employee Ownership Act of 2017 [HB-1792]
[Labor, Jobs, Employment ]
[Taxes ]
[Small Business ]
Expanding Employee Ownership Act of 2017 This bill amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of employer securities received in a qualified employee stock distribution as compensation for services that do not exceed the lowest number of employer securities received by any employee in such distribution; (2) any gain on such securities if held by an employee for not less than 10 years; and (3) in the case of any qualified disposition of an employer security that meets such 10-year holding requirement,
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Sponsored by: Rep. Collin C. Peterson
Introduced In House on 03/29/2017
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Modernizing American Manufacturing Bonds Act [S.773]
[Manufacturing ]
[Small Business ]
[Taxes ]
[Economic Development ]
Modernizing American Manufacturing Bonds Act This bill amends the Internal Revenue Code, with respect to qualified small issue bonds for manufacturing purposes, to expand the definition of "manufacturing facility" to include a facility that: (1) is used in the creation or production of intangible property; or (2) is functionally related, subordinate to, and located on the same site as a facility used in the manufacturing or production of tangible personal property or in the creation or production of intangible property. The bill also increases from
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Sponsored by: Sen. David Perdue
Read Twice And Referred To The Committee On Finance. on 03/29/2017
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US Congress 115th Congress
Facilitating Farmers' Access to Resources and Machinery Act [HB-1750]
[Agriculture ]
[Taxes ]
[Small Business ]
[Inflation ]
Facilitating Farmers' Access to Resources and Machinery Act This bill amends the Internal Revenue Code, with respect to private activity bond financing for first-time farmers, to: (1) increase from $450,000 to $524,200 (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the separate dollar limitation on the use of bond proceeds for used farm equipment, and (3) modify the definition of "substantial farmland" to determine farm size by reference to the
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Sponsored by: Rep. David Young
Introduced In House on 03/28/2017