Unnecessary Agency Regulations Reduction Act of 2021 This bill requires the Office of Information and Regulatory Affairs to annually report a list of major rules (i.e., rules with a significant economic impact, cost to consumers, or adverse effects on competition) that it recommends should be consolidated or repealed because they are outdated, duplicative, or incur excessive compliance costs. Congress must review the list to determine, and recommend by joint resolution, any such rules to consolidate or repeal.
Veterinary Medicine Loan Repayment Program Enhancement Act This bill modifies the requirements for calculating taxable income to exclude from gross income payments under the federal veterinary medicine loan repayment program or any state loan repayment or forgiveness program that is intended to provide for increased access to veterinary services in such state.
Protecting Life and Taxpayers Act of 2021 This bill requires federally funded entities to certify that they will not perform an abortion, and will not provide funds to any other entity that performs an abortion, except in cases of rape or incest or where a physical condition endangers the woman's life unless an abortion is performed. The bill's requirements do not apply to hospitals, as long as the hospital does not provide funds to any non-hospital entity for abortions that are not otherwise excepted.
Protect American Power Infrastructure Act This bill prohibits certain transactions that involve using bulk-power equipment to provide power for defense critical electric infrastructure in the United States if a foreign adversary owns or exercises influence over the equipment, including transactions that (1) involve equipment designed, developed, manufactured, or supplied by persons owned by, controlled by, or subject to the direction of a foreign adversary; and (2) pose an undue risk of catastrophic effects on the security or resiliency of such infrastructure. However, the Department of Energy may approve transactions if it designs or negotiates measures to mitigate such risks.
Israel Relations Normalization Act of 2021 This bill requires the Department of State to take certain actions promoting the normalization of relations between Israel, Arab states, and other relevant countries and regions. Specifically, the State Department must develop a strategy on expanding and strengthening the Abraham Accords (the term used to refer collectively to agreements between Israel and the United Arab Emirates and between Israel and Bahrain marking the public normalization of relations between the two Arab countries and Israel). The strategy must include a description of how the U.S. government will encourage further normalization of relations with Israel. The State Department must report on the status of efforts to promote normalization of relations with Israel and other countries, including information on (1) laws that punish individuals for people-to-people relations with Israelis (i.e., anti-normalization laws), and (2) instances of the use of state-owned or state-operated media outlets to promote the prosecution of citizens or residents of Arab countries calling for peace with Israel.
Promotion and Expansion of Private Employee Ownership Act of 2021 This bill 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 the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The bill defines an ESOP business concern for purposes of the Small Business Act as a business concern that was eligible for a loan, preference, or other program under such Act before more than 49% of the business concern was acquired by an ESOP.
Enhancing Credit Opportunities in Rural America Act of 2021 or the ECORA Act of 2021 This bill modifies the requirements for calculating taxable income to exclude from gross income interest received by a lender from real estate loans secured by agricultural real estate or by a leasehold mortgage (with a status as a lien) on agricultural real estate. Agricultural real estate includes real property that is substantially used for the production of one or more agricultural products. It also includes any single family residence that is (1) the principal residence of its occupant, (2) located in a rural area which is not within a Metropolitan Statistical Area and has a population of 2,500 or less, and (3) is purchased or improved with the proceeds of a loan secured by agricultural real estate or by a household mortgage.
National Cold War Center Act of 2021 This bill designates the museum located at Blytheville/Eaker Air Force Base in Blytheville, Arkansas, as the National Cold War Center.
This bill requires the Department of Veterans Affairs (VA) to report on its policies and procedures relating to the usage and maintenance of video cameras for patient safety and law enforcement at VA medical centers.
Save Rural Hospitals Act of 2021 This bill establishes an area wage adjustment floor for Medicare hospital payments in states that are not frontier states and excludes such adjustments from certain budget neutrality rules.
Foreign Gain-of-Function Research Prevention Act of 2021 This bill prohibits the use of federal funds to conduct or support gain-of-function research involving potential pandemic pathogens by China, Russia, Iran, North Korea, or other foreign adversaries. Gain-of-function research is any research that is anticipated to confer an attribute on a pathogen to enhance its pathogenicity or transmissibility in mammals. If the Department of State finds that an entity has used funds for prohibited research, the entity may not receive any federal funding for a period of five years.
Equal Enforcement of Cocaine Laws Act This bill eliminates the federal sentencing disparity between drug offenses involving crack cocaine and powder cocaine. Currently, different threshold quantities of crack cocaine and powder cocaine (e.g., 28 grams of crack cocaine and 500 grams of powder cocaine) trigger the same statutory criminal penalties. Under the bill, the same threshold quantity of crack cocaine and powder cocaine (e.g., 28 grams) triggers the same statutory criminal penalties. The change applies to future cases and cases pending on the date of enactment. However, the change does not apply retroactively.
