Emergency Economic Stabilization Act of 2008 (H.R.1424)

by Amanda Vega on October 4, 2008

Many have been calling and asking where you find valid information on the latest bills in Congress. Here is the link direct from the government itself. I say trust this resource over others that may alter the documentation. You can find this by going to http://www.house.gov and the link on the left hand side. Here it is.

http://financialservices.house.gov/essa/essabill.pdf

I have combed through much of the bill and will post more if asked. But in general here’s where you can find the nuances and pork stuffing that most are upset about.  Keep in mind, this legislation also altered the legislation of 5 other bills. You have to read this bill and track back the changes made and reference the original documentation in order to truly understand the bills.  (Thank goodness for my Ivy education that I know how to do this…)

 

Sec. 308 – Increase on limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands

Sec. 309 – Extension of economic development credit for American Samoa
Sec. 310 – Extension of mine rescue team training credit
Sec. 314 – Indian employment credit
Sec. 316 – Railroad track maintenance
Sec. 317 – Seven year cost recovery period for motorsports racing track facility
Sec. 319 – Extension of work opportunity tax credit for Hurricane Katrina employees
Sec. 322 – Tax incentives for investment in the District of Columbia
Sec. 325 – Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds
Title IV

Sec. 401 – Permanent authority for undercover operations
Sec. 402 – Permanent authority for disclosure of information relating to terrorist activities
Title V

Subtitle A – General Provisions

Sec. 502 – Provisions related to film and television productions
Sec. 503 – Exemption from excise tax for certain wooden arrows designed for use by children
Sec. 504 – Income averaging for amounts received in connection with the Exxon Valdez litigation
Subtitle B – Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Act of 2008

Sec. 512 – Mental Health parity

Title VI

Sec. 601 – Secure rural schools and community self-determination program
Sec. 602 – Transfer to abandoned mine reclamation fund

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