H.R. 4086

Healthy Families and Dedicated Teachers Tax Relief Act of 2007

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I

110th CONGRESS

1st Session

H. R. 4086

IN THE HOUSE OF REPRESENTATIVES

November 6, 2007

Mr. Klein of Florida introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to make permanent the tax-free distributions from individual retirement plans for charitable purposes and the deduction for State and local sales tax, and to extend the residential energy efficient property credit, the above the line deduction for eligible educator expenses, and the deduction for qualified tuition and related expenses.

1.

Short title

This Act may be cited as the Healthy Families and Dedicated Teachers Tax Relief Act of 2007.

2.

Residential energy efficient property

(a)

In general

Subsection (g) of section 25D of the Internal Revenue Code of 1986 (relating to termination) is amended by striking December 31, 2008 and inserting December 31, 2013.

(b)

Effective date

The amendment made by this section shall take effect on the date of the enactment of this Act.

3.

State and local sales tax

(a)

In general

Subparagraph (I) of section 164(b)(5) of the Internal Revenue Code of 1986 (relating to application of paragraph) is amended by striking , and before January 1, 2008.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2007.

4.

Tax-free distributions from individual retirement plans for charitable purposes

(a)

In general

Paragraph (8) of section 408(d) of the Internal Revenue Code of 1986 (relating to distributions for charitable purposes) is amended by striking subparagraph (F).

(b)

Effective date

The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2007.

5.

Certain expenses of elementary and secondary school teachers

(a)

In general

Subparagraph (D) of section 62(a)(2) of the Internal Revenue Code of 1986 (relating to certain trade and business deductions of employees) is amended by striking during 2002, 2003, 2004, 2005, 2006, or 2007 and inserting after December 31, 2001, and before January 1, 2013.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2007.

6.

Qualified tuition and related expenses

(a)

In general

Subsection (e) of section 222 of the Internal Revenue Code of 1986 (relating to termination) is amended by striking December 31, 2007 and inserting December 31, 2012.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2007.