American Infrastructure Bonds Act of 2021 This bill allows the issuer of an American infrastructure bond a tax credit for 28% of the interest payable under such bond.
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 extends to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP. 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 and allows such a concern to continue to qualify as a small business for the purposes of programs under the Small Business Act. An ESOP business concern is a business concern that was a small business concern eligible for a loan, preference, or other program under the Small Business Act before more than 49% of the business concern was acquired by an ESOP.
Time to Rescue United States Trusts Act of 2021 or the TRUST Act of 2021 This bill establishes congressional rescue committees to develop recommendations and legislation to improve critical social contract programs. A critical social contract program is a federal program for which a federal trust fund is established (e.g., Social Security, Medicare, and federal highway programs), with outlays of at least $20 billion during the year preceding the year in which this bill is enacted, and for which the amount of dedicated federal funds and federal trust fund balances will be inadequate to meet the total amount of outlays of the program that would otherwise be made. Each rescue committee may develop recommendations and legislation to improve the program for which it was established, including by (1) increasing the duration of positive balances of the federal trust fund established for the program, and (2) providing for the solvency of the federal trust fund established for the program during a 75-year period. Congress must use specified expedited legislative procedures to consider legislation that is approved and submitted by the rescue committees.
CFPB Pay Fairness Act of 2021 This bill requires employees of the Consumer Financial Protection Bureau to be compensated according to the General Schedule pay scale for federal employees.
Wildland Firefighter Recognition Act This bill requires the Office of Personnel Management to develop a distinct wildland firefighter occupational series. The series must apply to the following positions forestry technician; range technician; other positions related to significant prevention, preparedness, control, suppression, or management activities for wildland firefighters; and other positions conducting activities necessary to meet any other emergency incident. The Department of the Interior and the Department of Agriculture must use the series in the advertising and hiring of a wildland firefighter. The bill requires an employee in a wildland firefighter occupational series to receive a pay differential based on the unusual physical hardship or hazardous nature of the position. An individual employed as a wildland firefighter on the date on which the occupational series takes effect may (1) remain in the occupational series in which the individual is working, or (2) be included in the wildland firefighter occupational series.
Bank Service Company Examination Coordination Act of 2021 This bill requires the coordination of state banking agencies with federal banking agencies in regulating and examining the activities of bank service companies. It also allows for the sharing of information related to examinations and regulations between federal and state agencies.
Protecting Investors' Personally Identifiable Information Act This bill prohibits the Securities and Exchange Commission (SEC) from requiring a national securities exchange, association, or a member of either to provide a market participant's personally identifiable information to satisfy the reporting requirements of the Consolidated Audit Trail (which tracks market activity). However, this information must be provided to the SEC upon request. The SEC must destroy the information not later than one day after the conclusion of the matter for which this information was required.
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.
Protect Funding for Women's Health Care Act This bill prohibits federal funding of Planned Parenthood Federation of America or its affiliates, subsidiaries, successors, or clinics.
This bill modifies the requirements for calculating taxable income to make permanent the special depreciation rules for property used predominantly within an Indian reservation. (Under current law, the rules expired after 2021.)
Sustainable Budget Act of 2021 This bill establishes the National Commission on Fiscal Responsibility and Reform within the legislative branch to identify policies to improve the fiscal situation in the medium term and achieve fiscal sustainability over the long term. The commission must propose recommendations that (1) are designed to balance the budget, excluding interest payments on the debt, within 10 years in order to stabilize the ratio of the public debt to gross domestic product at an acceptable level; and (2) meaningfully improve the long-term fiscal outlook, including changes to address the growth of entitlement spending and the gap between projected federal revenues and expenditures. Congress must consider the commission's recommendations using specified expedited legislative procedures.
Selective Service Repeal Act of 2021 This bill repeals the requirement for males of ages 18 through 25 years old to register with the Selective Service. The bill also specifies that an individual shall not be penalized for prior failure to register with the Selective Service.
