Baudin Posted Thursday at 06:00 PM Share Posted Thursday at 06:00 PM IN THE SENATE OF THE UNITED STATES Senator BAUDIN proposes on behalf of herself, the President of the United States, and others A BILL To provide for an increase in the minimum wage, establish tax-exempt manufacturing reinvestment accounts, expand capital access for manufacturers, amend the Internal Revenue Code for expensing construction costs, and provide various incentives for repatriation of manufacturing operations. 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 "Build Together Act". TITLE I—MINIMUM WAGE PROVISIONS SEC. 101. INCREASE IN MINIMUM WAGE. (a) General Minimum Wage Increase.— The Fair Labor Standards Act of 1938 (29 U.S.C. 201 et seq.) is amended by striking “$7.25 an hour” each place it appears and inserting “$11.50 an hour”. (b) Phase-in Period.— The increase described in subsection (a) shall be phased in over a period of 3 years, with the minimum wage being raised to $8.20 an hour beginning on the first day of the sixth month after passage of this Act, $09.15 an hour beginning one year after that first day, $10.10 an hour beginning two years after that first day, and to $11.50 an hour in the third year after that first day. SEC. 102. MINIMUM WAGE FOR TIPPED EMPLOYEES. (a) Base Minimum Wage.— The Fair Labor Standards Act of 1938 (29 U.S.C. 201 et seq.) is amended in section 3(m)(2)(A)(ii) by striking “$2.13 an hour” and inserting “$4.15 an hour”. SEC. 103. MINIMUM WAGE FOR DISABLED WORKERS. (a) Wage Increase for Workers with Disabilities.— Section 14(c) of the Fair Labor Standards Act of 1938 (29 U.S.C. 214(c)) is amended by striking “$7.25 an hour” each place it appears and inserting “$11.50 an hour”. SEC. 104. TAX EXEMPTION FOR TIPS. (a) Tax Exemption for Tips.— Section 61(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: “(16) Tips received by an employee, will be exempt up to $50,000 or 20 percent of the employee’s gross income for the taxable year, whichever comes first” TITLE II—MANUFACTURING REINVESTMENT ACCOUNTS SEC. 201. ESTABLISHMENT OF MANUFACTURING REINVESTMENT ACCOUNTS (MRAs). (a) In General.— Subpart A of part I of subchapter D of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 408 the following new section: “SEC. 408A. MANUFACTURING REINVESTMENT ACCOUNTS. “(a) Deduction Allowed.— In the case of a taxpayer engaged in a manufacturing business, there shall be allowed as a deduction for the taxable year an amount equal to the cash payments made by such taxpayer to a manufacturing reinvestment account (MRA) during the taxable year. “(b) Limitation.— The amount of cash payments made to an MRA for any taxable year shall not exceed the lesser of $500,000 or the taxpayer’s domestic manufacturing gross receipts for the taxable year. “(c) Use of Funds.— Amounts in an MRA may be used for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. “(d) Tax on Non-Distributed Amounts.— There is hereby imposed a tax of 10 percent on any amounts in an MRA that are not distributed within 14 years after the year in which the amount was contributed. “(e) Termination.— No deduction shall be allowed for any payment to an MRA made 10 years after the date of the enactment of this Act.” TITLE III—EXPANSION OF CAPITAL ACCESS AND TAX INCENTIVES SEC. 301. EXPANSION OF CAPITAL ACCESS FOR MANUFACTURERS. (a) Expansion of Capital Access.— The Small Business Act (15 U.S.C. 631 et seq.) is amended to increase the maximum permissible loan amount for small businesses engaged in manufacturing. SEC. 302. EXPENSING OF CONSTRUCTION COSTS FOR MANUFACTURING FACILITIES. (a) Amendment to the Internal Revenue Code.— Section 179 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: “(f) Expensing for Manufacturing Facilities.— “(1) IN GENERAL.—In the case of any qualified manufacturing property— “(A) the term ‘section 179 property’ includes such property, and “(B) subsection (b) shall be applied by substituting ‘75 percent’ for ‘100 percent’. “(2) QUALIFIED MANUFACTURING PROPERTY.— The term ‘qualified manufacturing property’ means any property used in the manufacturing business and salaried employees. “(3) MILITARY AND CRITICAL INDUSTRIES.— In the case of qualified manufacturing property used for military, critical mineral and rare earth mining, microchip processors, or refinery construction, subsection (b) shall be applied by substituting ‘80 percent’ for ‘75 percent’.” TITLE IV—REPATRIATION OF MANUFACTURING OPERATIONS SEC. 401. TAX CREDIT FOR RELOCATING MANUFACTURING OPERATIONS. (a) Tax Credit for Repatriation.— Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: “SEC. 45U. CREDIT FOR REPATRIATION OF MANUFACTURING OPERATIONS. “(a) In General.— For purposes of section 38, in the case of a taxpayer engaged in manufacturing, there shall be allowed a credit equal to 25 percent of the costs associated with relocating manufacturing facilities and equipment to the United States. “(b) Allowable Expenses.— The expenses for which a credit is allowed under this section include payroll costs, employee training, and capital expenditures related to manufacturing operations for the three-year period beginning on the date the taxpayer commences relocation. “(c) Reporting Requirements.— Taxpayers claiming a credit under this section shall report annually on job creation, investment levels, and compliance with environmental and safety standards.” SEC. 402. REDUCED CORPORATE TAX RATE FOR REPATRIATED MANUFACTURING JOBS. (a) Reduced Corporate Tax Rate.— Section 11(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: “(3) RELOCATING MANUFACTURERS.— In the case of a corporation that repatriates manufacturing jobs to the United States, the applicable tax rate shall be 15 percent for the first five taxable years beginning after the date of relocation, provided the corporation creates a minimum of 100 new manufacturing jobs within the first year of relocation.” TITLE V—RESEARCH AND DEVELOPMENT INCENTIVES SEC. 501. INCREASE IN R&D TAX CREDITS FOR MANUFACTURING COMPANIES. (a) Increase in Credit.— Section 41(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: “(4) MANUFACTURING INNOVATION.— In the case of a taxpayer engaged in manufacturing who invests in innovative technologies and processes within the United States, the credit under this subsection shall be increased by 20 percent.” TITLE VI—STREAMLINED ENERGY REGULATIONS FOR ADVANCEMENT (with thanks to Senator Chen and Rep. Scalise) SEC. 601. SHORT TITLE. This title may be cited as the "Streamlined Energy Regulations for Advancement Act". SEC. 602. PROMOTING INTERAGENCY COORDINATION FOR REVIEW OF NATURAL GAS PIPELINES. (a) Definitions.—In this section: (1) Commission.—The term “Commission” means the Federal Energy Regulatory Commission. (2) Federal Authorization.—The term “Federal authorization” has the meaning given that term in section 15(a) of the Natural Gas Act (15 U.S.C. 717n(a)). (3) NEPA Review.—The term “NEPA review” means the process of reviewing a proposed Federal action under section 102 of the National Environmental Policy Act of 1969 (42 U.S.C. 4332). (4) Project-related NEPA Review.—The term “project-related NEPA review” means any NEPA review required to be conducted with respect to the issuance of an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act. (b) Commission NEPA Review Responsibilities.—In acting as the lead agency under section 15(b)(1) of the Natural Gas Act for the purposes of complying with the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) with respect to an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, the Commission shall, in accordance with this section and other applicable Federal law— (1) be the only lead agency; (2) coordinate as early as practicable with each agency designated as a participating agency under subsection (d)(3) to ensure that the Commission develops information in conducting its project-related NEPA review that is usable by the participating agency in considering an aspect of an application for a Federal authorization for which the agency is responsible; and (3) take such actions as are necessary and proper to facilitate the expeditious resolution of its project-related NEPA review. (c) Deference to Commission.—In making a decision with respect to a Federal authorization required with respect to an application for authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, each agency shall give deference, to the maximum extent authorized by law, to the scope of the project-related NEPA review that the Commission determines to be appropriate. (d) Participating Agencies.— (1) Identification.—The Commission shall identify, not later than 30 days after the Commission receives an application for an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, any Federal or State agency, local government, or Indian Tribe that may issue a Federal authorization or is required by Federal law to consult with the Commission in conjunction with the issuance of a Federal authorization required for such authorization or certificate. (2) Invitation.— (A) In General.—Not later than 45 days after the Commission receives an application for an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, the Commission shall invite any agency identified under paragraph (1) to participate in the review process for the applicable Federal authorization. (B) Deadline.—An invitation issued under subparagraph (A) shall establish a deadline by which a response to the invitation shall be submitted to the Commission, which may be extended by the Commission for good cause. (3) Designation as Participating Agencies.—Not later than 60 days after the Commission receives an application for an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, the Commission shall designate an agency identified under paragraph (1) as a participating agency with respect to an application for authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act unless the agency informs the Commission, in writing, by the deadline established pursuant to paragraph (2)(B), that the agency— (A) has no jurisdiction or authority with respect to the applicable Federal authorization; (B) has no special expertise or information relevant to any project-related NEPA review; or (C) does not intend to submit comments for the record for the project-related NEPA review conducted by the Commission. (4) Effect of Non-designation.— (A) Effect on Agency.—Any agency that is not designated as a participating agency under paragraph (3) with respect to an application for an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act may not request or conduct a NEPA review that is supplemental to the project-related NEPA review conducted by the Commission, unless the agency— (i) demonstrates that such review is legally necessary for the agency to carry out responsibilities in considering an aspect of an application for a Federal authorization; and (ii) requires information that could not have been obtained during the project-related NEPA review conducted by the Commission. (B) Comments; Record.—The Commission shall not, with respect to an agency that is not designated as a participating agency under paragraph (3) with respect to an application for an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act— (i) consider any comments or other information submitted by such agency for the project-related NEPA review conducted by the Commission; or (ii) include any such comments or other information in the record for such project-related NEPA review. (e) Water Quality Impacts.— (1) In General.—Notwithstanding section 401 of the Federal Water Pollution Control Act (33 U.S.C. 1341), an applicant for a Federal authorization shall not be required to provide a certification under such section with respect to the Federal authorization. (2) Coordination.—With respect to any NEPA review for a Federal authorization to conduct an activity that will directly result in a discharge into the navigable waters (within the meaning of the Federal Water Pollution Control Act), the Commission shall identify as an agency under subsection (d)(1) the State in which the discharge originates or will originate, or, if appropriate, the interstate water pollution control agency having jurisdiction over the navigable waters at the point where the discharge originates or will originate. (3) Proposed Conditions.—A State or interstate agency designated as a participating agency pursuant to paragraph (2) may propose to the Commission terms or conditions for inclusion in an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act that the State or interstate agency determines are necessary to ensure that any activity described in paragraph (2) conducted pursuant to such authorization or certification will comply with the applicable provisions of sections 301, 302, 303, 306, and 307 of the Federal Water Pollution Control Act. (4) Commission Consideration of Conditions.—The Commission may include a term or condition in an authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act proposed by a State or interstate agency under paragraph (3) only if the Commission finds that the term or condition is necessary to ensure that any activity described in paragraph (2) conducted pursuant to such authorization or certification will comply with the applicable provisions of sections 301, 302, 303, 306, and 307 of the Federal Water Pollution Control Act. (f) Schedule.— (1) Deadline for Federal Authorizations.—A deadline for a Federal authorization required with respect to an application for authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act set by the Commission under section 15(c)(1) of such Act shall be not later than 90 days after the Commission completes its project-related NEPA review, unless an applicable schedule is otherwise established by Federal law. (2) Concurrent Reviews.—Each Federal and State agency— (A) that may consider an application for a Federal authorization required with respect to an application for authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act shall formulate and implement a plan for administrative, policy, and procedural mechanisms to enable the agency to ensure completion of Federal authorizations in compliance with schedules established by the Commission under section 15(c)(1) of such Act; and (B) in considering an aspect of an application for a Federal authorization required with respect to an application for authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, shall— (i) formulate and implement a plan to enable the agency to comply with the schedule established by the Commission under section 15(c)(1) of such Act; (ii) carry out the obligations of that agency under applicable law concurrently, and in conjunction with, the project-related NEPA review conducted by the Commission, and in compliance with the schedule established by the Commission under section 15(c)(1) of such Act, unless otherwise prohibited by Federal law; and (iii) transmit to the Commission a statement— (I) acknowledging receipt of the schedule established by the Commission under section 15(c)(1) of such Act; and (II) setting forth the plan formulated under clause (i) of this subparagraph. (g) Resolving Inconsistencies.—If the Commission determines that a Federal or State agency, local government, or Indian Tribe that is designated as a participating agency under subsection (d)(3) has denied a Federal authorization required with respect to an application for authorization under section 3 of the Natural Gas Act or a certificate of public convenience and necessity under section 7 of such Act, or has failed to act by the deadline established under subsection (f)(1) with respect to the application for the Federal authorization, the Commission may— (1) consult with the head of the relevant Federal or State agency, local government, or Indian Tribe, as applicable, to resolve the matter within 30 days of the date of such denial or failure to act; and (2) if unable to resolve the matter under paragraph (1), resolve the dispute in accordance with procedures established by the Commission. (h) Savings Provision.—Nothing in this section shall be construed to affect the application of any other provision of Federal law to a Federal authorization or to any project or activity for which such a Federal authorization is required. TITLE VII—PROHIBITION ON CERTAIN EXPORTS SEC. 701. PROHIBITION ON CERTAIN EXPORTS. (a) In General.— The Energy Policy and Conservation Act is amended by inserting after section 163 (42 U.S.C. 6243) the following: “SEC. 164. PROHIBITION ON CERTAIN EXPORTS. “(a) In General.—The Secretary shall prohibit the export or sale of petroleum products drawn down from the Strategic Petroleum Reserve, under any provision of law, to— “(1) the People’s Republic of China; “(2) the Democratic People’s Republic of Korea; “(3) the Russian Federation; “(4) the Islamic Republic of Iran; and “(5) any other country the government of which is subject to sanctions imposed by the United States.” TITLE VIII— ADDITIONAL LEGISLATION SEC. 801. RARE EARTH AND MAGNET DEVELOPMENT. In General.— The Rare Earth Magnet Manufacturing Production Tax Credit Act of 2018 and the ONSHORE Manufacturing Act of 2018 are hereby enacted. SEC. 802. EFFECTIVE DATE. This Act shall take effect 180 business days after its enactment. Quote PLAIN ENGLISH SUMMARY MW increase to over $11.50 by 2020. Establishes Base minimum of $4.15 MW tipped employees (see Sec 1002) Increases Fair Labor Standards bill to improve disabilities mw to $11.50 (see Sec 1005) Tips become tax exempt up until twenty percent or below, or at most $50,000. Establish tax-exempt manufacturing reinvestment accounts (MRAs) for taxpayers engaged in a manufacturing business. Allows such manufacturers to make tax deductible cash payments into an MRA of the lesser of their domestic manufacturing gross receipts for the taxable year or $500,000. Permits expenditures from an MRA for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. Imposes a 10% tax on amounts in an MRA that are not distributed within 7 years. Terminates the tax deduction for payments to an MRA 14 years after the enactment of this Act Expand capital access in the Small Business Administration for manufacturers and further expands the maximum permissible loan for all small businesses. Amends the Internal Tax Revenue Code by permitting expensing of up to 75% of construction costs for manufacturing facilities and salaried employees. Increases deduction by 5% to 80% expensing for military, critical mineral and rare earth mining, microchip processors, refinery construction. Establishes an annual grant program of $15,000,000,000B for defense materials development in the United States for provision abroad Establish a tax credit for companies that relocate manufacturing operations from overseas back to the United States. The tax credit will be equal to 25% of the costs associated with relocating manufacturing facilities and equipment to the U.S. Allow repatriating companies to deduct specified expenses such as payroll costs, employee training, and capital expenditures related to manufacturing operations for three years of the time legislation takes effect. Increase R&D tax credits for manufacturing companies that invest in innovative technologies and processes within the U.S. Require companies benefiting from repatriation incentives to report on job creation, investment levels, and compliance with environmental and safety standards. Offer a reduced corporate tax rate of 15% for a period of five years to companies that repatriate manufacturing jobs to the U.S. Eligibility requires companies to create a minimum of 100 new manufacturing jobs within the first year of relocation. This bill expands the authority of the Federal Energy Regulatory Commission (FERC) to act as the only lead agency for the purpose of coordinating the environmental review process under the National Environmental Policy Act of 1969 (NEPA) of natural gas pipeline project applications under the Natural Gas Act. Thus, federal, state, and local agencies involved in the environmental review process must defer to FERC's approved scope for a NEPA review. FERC must invite and designate the other participating agencies involved in the authorization process. In addition, FERC must consult with the Transportation Security Administration regarding pipeline infrastructure security, pipeline cybersecurity, pipeline personnel security, and other pipeline security measures. The bill establishes a deadline for agencies to complete NEPA reviews of pipeline projects and requires concurrent reviews when multiple federal or state agencies are involved. If a federal or state agency requires the person applying for a pipeline authorization to submit data, the agency must consider any such data gathered by aerial or other remote means that the person submits. Allows for interim permitting for facilities that process or refine resources essential to the energy sector or systems of America and that have a supply chain vulnerable to disruption. Directs the EPA to allow for flexible air permitting for resources essential to the energy sector or systems of America and that have a supply chain vulnerable to disruption. Prohibits export of petroleum from the SPR to China, North Korea, Russia, Iran, and any other country the government of which is subject to sanctions imposed by the United States. "The Rare Earth Magnet Production Tax Credit Act is enacted The S.44 - ONSHORE Manufacturing Act is enacted Link to comment Share on other sites More sharing options...
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