Public Service Retirement Fairness Act of 2021 This bill expands the ability of 403(b) retirement plans (i.e., retirement plans designed for certain employees of public schools, nonprofits, and churches) to invest in collective investment trusts, which are a group of pooled investment assets held by a bank or trust company.
American Workforce Empowerment Act This bill allows tax-preferred college savings plans (529 plans) to fund certain postsecondary certificate programs and apprenticeship programs.
Maximizing America's Prosperity Act of 2021 This bill establishes annual spending limits that are equal to specified percentages of potential gross domestic product (GDP). Potential GDP generally refers to the GDP that would occur if the economy were at full employment without inflation. The spending limits apply to all budget authority and outlays of the federal government excluding net interest. The bill establishes procedures for enforcing the spending limits, including requirements for sequestration (i.e., automatic spending cuts) and for the President's budget and congressional budget resolutions to comply with the limits. The bill also requires at least 1% of total discretionary spending for each year to be reserved for emergencies.
Protecting Life and Taxpayers Act of 2021 This bill requires federally funded entities to certify that they will not, subject to certain exceptions, perform abortions or provide funding to other entities that perform abortions. The bill provides exceptions for abortions (1) in cases of rape or incest; or (2) when the life of the woman is in danger due to a physical disorder, injury, or illness.
This resolution expresses the sense of the House of Representatives that (1) clean water is a national priority, and (2) the 2020 final rule titled The Navigable Waters Protection Rule: Definition of "Waters of the United States" should not be withdrawn or vacated.
Affordable Housing Credit Improvement Act of 2021 This bill revises provisions of the low-income housing tax credit and renames it as the affordable housing credit . The bill increases the per capita dollar amount of the credit and its minimum ceiling amount beginning in 2021 and extends the inflation adjustment for such amounts. The bill modifies tenant income eligibility requirements and the average income formula for determining such income. It also revises rules for student occupancy of rental units and tenant voucher payments, and prohibits any refusal to rent to victims of domestic abuse. The bill further modifies the credit to increase state allocations of the credit; repeal the qualified census tract population cap; prohibit local approval and contribution requirements; increase the credit for certain projects designated to serve extremely low-income households; increase the credit for certain bond-financed projects designated by state agencies; eliminate the basis reduction for properties that receive certain energy-related tax benefits; and increase the population cap for difficult development areas (i.e., areas with high construction, land, and utility costs relative to area median gross income). The bill also includes Indian and rural areas as difficult development areas and modifies other requirements relating to casualty losses, acquisition credits, and foreclosures.
Accelerate Long-term Investment Growth Now Act or the ALIGN Act This bill makes permanent the expensing of certain new business equipment. Expensing allows the deduction of the full amount of an expense item in the same taxable year.
Haulers of Agriculture and Livestock Safety Act of 2021 or the HAULS Act of 202 1 This bill modifies exemptions with respect to commercial motor vehicle safety regulations involving the transportation of agricultural commodities and farm supplies. The bill allows the federal hours-of-service rules exemption regarding maximum driving and on-duty time for drivers transporting agricultural commodities and farm supplies to apply year-round. Current law provides an exception from the federal hours-of-service rules for the transportation of agricultural commodities within a 150 air-mile radius of the normal work reporting location only during planting and harvest periods which are determined by each state. Additionally, the Department of Transportation must revise the definition of agricultural commodity to include specific commodities that are covered by the federal hours-of-service rules exception.
This resolution condemns Iranian state-sponsored terrorist attacks against U.S. citizens and officials and Iranian dissidents and expresses support for the people of Iran who are engaged in legitimate and peaceful protests against the Iranian regime.
Financing Our Energy Future Act The bill extends the tax treatment of certain publicly traded partnerships as corporations to renewable and alternative energy sources and transportation fuels. Under current law the tax treatment of such partnerships is only available to investors in energy portfolios for oil, natural gas, coal extraction, and pipeline projects.
