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HR 4086 IH

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.

November 6, 2007

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

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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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.

SEC. 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.

SEC. 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.

SEC. 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.

SEC. 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.