H.R. 3340 — A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.

Summary

(Reported to Senate from the Committee on Finance with amendment, S. Rept. 95-342)

Amends the Internal Revenue Code to allow individuals an income tax credit for 75 percent of the sum of all political contributions to the United States Senate, instead of the 50 percent generally allowed for political contributions. Increases the limitation on credit taken for political contributions to $100 ($200 for joint returns), of which no more than $25 (or $50 for joint returns) may be applied to contributions to candidates for the Senate. Denies the alternative income tax deduction for political contributions for contributions to Senate candidates.

Permits the taxpayer to apply the credit as a claim for a refund (with a 60 day repayment period) or as a credit for his tax liability for the preceding taxable year. Allows the taxpayer to take such credit for any taxable year beginning after December 31, 1976.

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Related Legislation

H.R. 4561A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.
1977-03-07Referred to House Committee on Ways and Means.
Related
H.R. 4562A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.
1977-03-07Referred to House Committee on Ways and Means.
Related
H.R. 5084A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.
1977-03-15Referred to House Committee on Ways and Means.
Related
H.R. 5623A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.
1977-03-28Referred to House Committee on Ways and Means.
Related
S. 749A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.
1977-02-21Referred to Senate Committee on Finance.
Related

Legislative Actions

1977-02-09
Introduced in House
1977-02-09
Introduced in House
1977-02-09
Referred to House Committee on Ways and Means.
1977-04-05
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-164.
1977-04-05
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-164.
1977-04-18
Measure called up under motion to suspend rules and pass in House.
1977-04-18
Measure considered in House.
1977-04-18
Passed/agreed to in House: Measure passed House, amended, roll call #135 (320-1).
Roll Call #135 (House)
1977-04-18
Measure passed House, amended, roll call #135 (320-1).
Roll Call #135 (House)
1977-04-19
Referred to Senate Committee on Finance.
1977-07-13
Reported to Senate from the Committee on Finance with amendment, S. Rept. 95-342.
1977-07-13

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for expenses allocable to the use of any portion of a dwelling unit in the trade or business of providing day care services whether or not such portion is exclusively used in such trade or business.

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