Legislative Activity

This bill amends the Internal Revenue Code to restore and modify the asset test for Real Estate Investment Trust (REIT) taxable REIT subsidiaries (TRSs). Specifically, it increases the allowable percentage for certain assets held by a TRS from 20 percent to 25 percent. This change will take effect for tax years beginning after December 31, 2025.

The Baby Observation Act mandates that the Secretary of Health and Human Services conduct a comprehensive study on the effectiveness of home cardiorespiratory monitors in preventing sudden unexpected infant death (SUID). The resulting report must detail the monitors' performance, suggest new infant care practices, and provide recommendations on criteria for insurance coverage. This aims to determine if these vital sign monitors warrant broader health insurance reimbursement.

This bill extends combat zone tax benefits to members of the Armed Forces serving in Kenya, Mali, Burkina Faso, and Chad. It treats these locations as "qualified hazardous duty areas" for tax purposes, applying the same favorable rules used for official combat zones. This change impacts filing deadlines, income exclusions, and tax liability for service members in these specific regions.

The "Pandemic Unemployment Fraud Enforcement Act" extends the statute of limitations to 10 years for prosecuting fraud related to specific pandemic unemployment programs. It applies to violations or conspiracies under Title 18 and Title 31 of the U.S. Code and rescinds $5,000,000 from previously allocated funds to offset the budget. The changes made by this law will begin on the date of enactment.

This bill, the Generating Retirement Ownership through Long-Term Holding Act, allows individual investors to defer paying taxes on capital gain dividends from mutual funds if those dividends are automatically reinvested into more fund shares. Taxes on these deferred gains are only due when the investor sells the shares or upon death. This provision aims to encourage long-term investment in mutual funds by providing immediate tax relief on reinvested earnings.

The Military Spouse Hiring Act amends the Internal Revenue Code to expand eligibility for the Work Opportunity Tax Credit (WOTC). This change allows employers to claim the tax credit for hiring qualified military spouses. A qualified military spouse is defined as someone certified as being married to a member of the U.S. Armed Forces.

The American Innovation and R&D Competitiveness Act of 2025 revises how businesses treat research and experimental (R&E) expenditures for tax purposes. Taxpayers can now choose between immediately deducting R&E costs or amortizing them over a period of at least 60 months. This legislation also makes technical adjustments to ensure consistency between immediate deductions and claiming the research tax credit.

The Water Conservation Rebate Tax Parity Act expands the current tax exclusion for energy efficiency subsidies to include payments received for making homes more water-efficient. This means that rebates from utilities or governments for installing water, storm water, or wastewater management improvements will generally not be counted as taxable income. The bill clarifies which types of improvements qualify and which entities can provide these tax-free subsidies. These changes apply to subsidies received after December 31, 2021.

The Saving Gig Economy Taxpayers Act seeks to reinstate the previous, higher reporting thresholds for third-party payment processors issuing Form 1099-K. This means payment networks will only be required to report earnings to the IRS if a user exceeds both a \$20,000 total payment amount and 200 separate transactions in a calendar year. Furthermore, the bill applies this "de minimis" standard to backup withholding rules for these network payments starting in 2025.

The Access to Credit for our Rural Economy Act of 2025 (ACRE Act) creates a new federal tax incentive for qualified lenders. This incentive excludes income earned from interest on loans secured by rural or agricultural real property from taxation. The goal is to encourage lending for agricultural, forestry, and certain rural home improvement purposes while prohibiting loans to foreign adversary entities.

This bill expresses condolences for the 67 lives lost in the American Eagle Flight 5342 and PAT 25 crash near Ronald Reagan Washington National Airport on January 29, 2025. It recognizes the impact on Wichita, Kansas, and acknowledges the cooperation of officials in responding to the tragedy and assisting the families. The bill also commends the heroic actions of first responders and emergency services personnel.

The "Federal Firearms Licensee Protection Act of 2025" increases penalties for stealing firearms from licensed dealers. It sets stricter punishments, including up to 20 years in prison, for violating laws related to firearm theft. The act also mandates minimum prison sentences of 3 years for burglaries and 5 years for robberies targeting licensed firearm businesses.

The Roberto Clemente Commemorative Coin Act directs the Department of Treasury to mint and issue gold, silver, and half-dollar coins in 2027 to commemorate the life and legacy of Roberto Clemente. The coins' designs will represent Clemente's life, including his baseball achievements and humanitarian work. Surcharges from the coin sales will benefit the Roberto Clemente Foundation, supporting their educational programs, youth sports initiatives, disaster relief efforts, and historic preservation projects. The Act ensures that the coin program will not incur any net cost to the United States government.

The "UNITED Act" aims to enhance U.S. economic strength and strategic interests by directing the President to pursue trade negotiations with the United Kingdom and authorizing the President to enter into a comprehensive trade agreement. It sets specific parameters for tariff modifications and requires ongoing consultation with Congress throughout the negotiation and implementation processes. The Act also ensures adherence to existing trade priorities and accountability standards, while preventing unilateral changes to the agreement without Congressional approval.

The Guarding Readiness Resources Act allows the National Guard Bureau to accept funds from states and territories as reimbursement for the use of military property. These funds will be used by the Department of Defense for the repair, maintenance, and replacement of assets used by National Guard units on state active duty.

This bill directs Congress to convene a joint session in Philadelphia on July 2, 2026, to honor the 250th anniversary of the Declaration of Independence. The session will take place at Independence National Historical Park, recognizing Philadelphia's pivotal role in the nation's founding.

The "Maintaining Investments in New Innovation Act" amends the Social Security Act's definition of "qualifying single source drug" to include advanced drugs using genetically targeted technology. This update applies to drugs that can modify gene function, potentially impacting drug pricing and access regulations under the Act.

The SCREEN Act requires online platforms that host or provide pornographic content to implement technology verification measures to prevent minors from accessing harmful material. It mandates that these platforms use reliable age verification methods, undergo regular audits by the Federal Trade Commission (FTC) to ensure compliance, and protect user data collected during the verification process. The FTC is responsible for enforcing the Act, and the Government Accountability Office (GAO) must report to Congress on the effectiveness and impact of these measures. This act aims to protect children from the harmful effects of online pornography.

The "Parity for Athletic Recreation Act" or "PAR Act" removes the restriction that prohibits bond proceeds from being used for private or commercial golf courses and country clubs. This change applies to bonds issued after the enactment of this Act. Additionally, it affects the empowerment zone employment credit and applies to empowerment zone businesses and opportunity zones.

The "Accelerating Kids Access to Care Act of 2025" streamlines the enrollment process for out-of-state healthcare providers in Medicaid and CHIP, ensuring children under 21 have access to care from eligible providers across state lines. By reducing administrative burdens and unnecessary screening requirements, the Act aims to improve healthcare access for children while maintaining necessary safeguards against fraud and abuse. Participating providers will be enrolled for a 5-year period, and the changes will take effect three years after the Act's enactment.