Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2021 This bill temporarily provides credit unions with an exception to limits on outstanding member business loans. Specifically, a loan does not count towards this limit if (1) it is used for recovery from the COVID-19 (i.e., coronavirus disease 2019) emergency, (2) it is made by an insured credit union that has received a specified soundness rating, (3) it is made during a specified time period, and (4) it does not threaten the safety and soundness of the insured credit union.
Menstrual Equity in the Peace Corps Act This bill requires the Peace Corps to ensure access to menstrual products for its volunteers who require them, either by increasing stipends for these products or providing these products to its volunteers.
Small Business Emergency Savings Accounts Act of 2021 This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary. The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.
Emergency Savings Accounts Act of 2021 This bill allows an individual taxpayer occupying a residence a deduction from gross income for up to $5,000 of amounts paid into such taxpayer's emergency savings account. The bill defines emergency savings account as an account established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary. The bill defines qualified disaster and public health emergency expenses as disaster mitigation expenses, disaster recovery expenses, public health emergency expenses, and unemployment-related expenses.
Ultra-Millionaire Tax Act of 2021 This bill imposes a tax on the net value of all taxable assets of the taxpayer on the last day of any calendar year (wealth tax). The amount of such tax shall be equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion. There is no tax on the net value of taxable assets not in excess of $50 million. The bill defines net value of all taxable assets as the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated reduced by any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, and collectibles. The Internal Revenue Service (IRS) must audit annually not less than 30% of taxpayers required to pay the tax imposed by this bill. The bill provides funding to the IRS for FY2022-FY2032 for enforcement of the requirements of this bill, taxpayer services, and for business system modernization.
This bill redesignates the federal building located at 935 Pennsylvania Avenue, NW, in the District of Columbia (currently known as the J. Edgar Hoover Building) as the Federal Bureau of Investigation Building.
The COVID-19 Hospital and Health Provider Loan Conversion Act of 2021 This bill establishes and otherwise modifies requirements for the Medicare Accelerated and Advance Payment Program during the public health emergency relating to COVID-19 (i.e., coronavirus disease 2019). The program provides Medicare payments in advance to eligible providers experiencing claims or cash flow disruptions, such as during national emergencies; the program was specifically expanded in response to COVID-19 to encompass more types of providers, subject to certain recoupment and repayment provisions. The bill requires the Centers for Medicare & Medicaid Services to waive recoupment and repayment for providers who meet specified requirements. Among other criteria, providers must not have engaged in surprise billing practices with respect to COVID-19 patients. Providers must still repay any amounts not used for COVID-19 expenses; the bill caps the interest rate on such repayments at 2% upon a demonstration of hardship. The bill also requires private health insurers to treat out-of-network COVID-19 services as in-network for purposes of payment and cost-sharing.
This bill extends through FY2036 the authority of the Department of the Interior to make any grants or provide any assistance for the Augusta Canal National Heritage Area in Georgia.
This bill extends the Cape Cod National Seashore Advisory Commission through September 25, 2028.
Arctic Refuge Protection Act This bill repeals the Arctic National Wildlife Refuge oil and gas program. The bill designates approximately 1,559,538 acres of land within Alaska in the Arctic National Wildlife Refuge as a component of the National Wilderness Preservation System.
Securing Our Borders and Wilderness Act This bill allows U.S. Customs and Border Protection to conduct the following activities within a wilderness area for the purpose of securing the international land borders of the United States: access structures, installations, and roads; execute search and rescue operations; use motor vehicles, motorboats, and motorized equipment; conduct patrols on foot and on horseback; use aircraft; deploy tactical infrastructure and technology; or construct and maintain roads and physical barriers. Any such activity shall be carried out in a manner that protects the wilderness character of the area.
Protecting New Mexico's Jobs and Public Education System Act This bill exempts New Mexico from provisions of specified orders that suspend oil or gas drilling in federal lands or waters. On January 27, 2021, the President issued an executive order that includes a moratorium on new oil or gas leases on public lands or in offshore waters. This bill exempts New Mexico from such moratorium. On January 20, 2021, the Department of the Interior issued a secretarial order that includes a suspension on the authority of its bureaus and offices to issue any onshore or offshore fossil fuel authorization, including permits to drill. This bill exempts New Mexico from the suspension.
