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Title: Appropriates Funds to the Highway Trust Fund
Vote Smart's Synopsis:
Vote to adopt an amendment to HR 5021 that appropriates funds to federal highway programs from October 1, 2014 to December 19, 2014.
- Appropriates certain funds from the Department of Treasury to the following accounts within the Highway Trust Fund (Sec. 2002):
- $5.6 billion to the Highway Account; and
- $1.5 billion to the Mass Transit Account.
- Transfers $1 billion from the Leaking Underground Storage Tank Trust Fund to the Highway Account within the Highway Trust Fund (Sec. 2002).
- Extends the effective date for fees charged on certain merchandise entered through customs from September 30, 2023 to January 7, 2024 (Sec. 2009).
- Expands the required information on a tax form for an individual who receives at least $600 in mortgage interest each year to include the following information, effective for all tax forms that are due after December 31, 2015 (Sec. 2003):
- The unpaid balance at the end of the calendar year for each mortgage;
- The address of each property securing the mortgage;
- The amount of real estate taxes paid from an escrow account;
- The origination date of each mortgage; and
- Information regarding whether the mortgage is a refinancing that occurred in the calendar year.
- Establishes a $500 penalty for an individual who fails to meet due diligence requirements for the child tax credit on his or her tax return, effective for taxable years beginning after December 31, 2014 (Sec. 2004).