United States · United States Congress · 26 June 1986
Federal Credit Management and Debt Collection Improvements Act of 1986 - Establishes in the Department of the Treasury an Under Secretary of the Treasury for Debt Collection and Credit Management, who shall be appointed by the President, by and with the consent of the Senate. Sets forth the functions of the Under Secretary with respect to establishing and implementing a comprehensive Federal debt collection and credit management plan. Directs the Comptroller General to report to the Congress an analysis of such plan, together with comments. Requires executive agency proposals for new credit programs to contain an explicit statement of any subsidies involved. Requires interest rates in new direct loan programs to be related to market rates for comparable private sector loan programs. Requires the assessment of loan origination and application fees to defray administrative costs and costs of defaulted loans. Prohibits loans to persons who are delinquent in debt payments to the United States. Sets forth the circumstances under which a person who has defaulted on a prior loan may be allowed another loan. Requires loan contracts to contain default and acceleration clauses. Requires each loan applicant to be provided with a written notice specifying Federal debt collection policies and practices. Directs the President to provide for a study of private sector alternatives to Federal loan programs. Directs the Secretary of the Treasury to establish Federal credit management policies and promulgate regulations to implement this Act. Requires each executive agency to report to the Congress, within one year of enactment of this Act, on its delinquency and default standards. Directs the Comptroller General, within two years of enactment of this Act, to audit agency credit programs. Requires agencies to conform to regulations under this Act and the Federal Claims Collection Act of 1966 (as amended by the Debt Collection Act of 1982) within one year of enactment of this Act. Establishes a collection target amount of $15 billion during the period beginning October 1, 1986, and ending September 30, 1989. Increases an agency's funding when it exceeds its debt collection target, and decreases such funding for not meeting its target. Directs the Secretary of the Treasury to promulgate regulations to assist agencies in developing proposals for debt collection targets. Requires the use of credit bureaus and private collection agencies to recover indebtedness owed the Federal Government. Provides for routine adjustments of Federal pay for non-controversial overpayments. Amends the Internal Revenue Code to authorize agencies to use Internal Revenue Service information in debt collection. Requires the inclusion of debt collection data in the budget process. Directs each agency head to investigate the feasibility and cost effectiveness of selling debts to the private sector. Makes State laws inapplicable with respect to time limitations for bringing legal actions on debts owed to the United States.
United States · United States Congress · 26 June 1986
Defense Technology Data Exchange Improvement Act of 1986 - Directs the Secretary of Defense to promote, monitor, and evaluate programs for the communication and exchange of technological data among all Department of Defense research facilities and other Departmental components. Directs the Secretary to take other specified actions to ensure the efficient operation of various defense research facilities within the Department of Defense and to promote increased consideration of technological issues early in the defense systems development process. Directs the Secretary, within one year after the enactment of this Act, to submit a written report to the Congress concerning actions taken to implement this Act and to improve the management and utilization of defense research facilities.
United States · United States Congress · 26 June 1986
Defense Industrial Reserve Improvement Act of 1986 - Amends the Defense Industrial Reserve Act of 1948 to direct the Secretary of Defense to transfer excess industrial property from the Defense Industrial Reserve to other Government agencies, with reimbursement from such agencies for the use of such property. Directs the Secretary to prescribe general policies and fee schedules for reimbursement of the Department of Defense by Government agencies for the use of such defense industrial reserve equipment.
United States · United States Congress · 26 June 1986
Paralegal Coordination and Activities Act of 1986 - Establishes within the Department of Justice an Office of Paralegal Coordination and Activities to: (1) coordinate efforts to increase utilization of paralegals; (2) coordinate paralegal training programs within the Department; and (3) study the possibility of increasing the use of paralegals within the Department. Requires the Office to report to the Congress and the President on: (1) the current utilization of paralegals; (2) the nonlitigative functions and responsibilities which could be performed by trained paralegals; (3) an evaluation of the optimal ratio of paralegals to attorneys; and (4) an evaluation of the benefits and problems associated with the current methods used to fill paralegal positions within the Department.
United States · United States Congress · 26 June 1986
Tax Collection and Enforcement Improvement Act of 1986 - Title I: Collections and Enforcement Staff Enhancement - Requires the Secretary of the Treasury, within five fiscal years of the enactment of this Act, to reduce the level of delinquent debt by at least $5,000,000, through the strengthening of the collection activities of the Internal Revenue Service. Requires the Secretary to increase the collection staff by 1,500 employees in FY 1987. Requires the Secretary, within 180 days of enactment of this Act, to submit a plan to the Congress to reduce the growth of backlogged collections and increase collection of taxes. Provides that the plan is to detail the allocation of staff in all aspects of the collection process, based on projected workload and to include an estimate of future staffing needs. Authorizes appropriations to the Internal Revenue Service as necessary to carry out these requirements. Directs the Secretary to increase by 1,000 in FY 1987 the Internal Revenue Service staff allocated to the information returns (document matching) program. Requires the Secretary to submit, within 180 days, a plan to strengthen the Information Returns Program, which shall include an estimate of staffing needs. Authorizes appropriations to carry out the program to strengthen the Information Returns Program. Directs the Secretary of the Treasury to increase by 2,500 the Internal Revenue Service staff positions in the tax return examination and enforcement function area in each of FY 1987, 1988, and 1989. Requires the Secretary, within 180 days of enactment, to submit a plan to increase the number of returns audited to at least two percent and to raise taxpayer compliance to 90 percent within the next five years. Provides that the plan shall recommend any additional staffing needs. Requires the Secretary, within 60 days after the end of FY 1987, and each year following, to submit a report to the Congress on the status of tax collections and the level of delinquent debt. Title II: Improvement of Collection Practices - Requires the Secretary to classify all delinquent accounts based on stage of collection, value, type of taxpayer, type of tax, source of delinquency, taxpayer collection history, and other such criteria as the Secretary deems necessary to better provide the Internal Revenue Service with information with which to manage the collection process. Requires levy source information to be included with closing agreements or any such document that concludes an examination where the entire tax is not paid. Authorizes the Secretary to use electronic funds transfers or payroll deductions to collect taxes when payments under installment agreements are delinquent. Title III: Collection of Alcoholic Occupational Tax - Prohibits wholesale dealers in beer, wine, and distilled spirits from selling beer, wine, and distilled spirits to any retail dealer unless that retailer has paid the alcoholic occupational tax. Requires each wholesaler to keep records of the retailer's compliance with the alcoholic occupational tax. Requires the Secretary to match information on income tax returns to identify noncompliant retailers.
United States · United States Congress · 26 June 1986
Housing Eligibility Verification Improvement Act of 1986 - Authorizes the Secretary of Housing and Urban Development, in order to strengthen eligibility verification and the proper determination of benefits for housing programs, to: (1) require an applicant or participant to disclose his or her social security or employee identification number; and (2) obtain access to wage and other information from State employment records maintained under the Social Security Act.
United States · United States Congress · 19 June 1986
Amends Federal defense procurement provisions to prohibit the head of a defense agency from contracting with a firm in which a foreign government (or an agent or instrumentality of such foreign government) owns or controls a significant interest, if such foreign government: (1) is an enemy of the United States; or (2) has repeatedly provided support for acts of international terrorism. Authorizes the head of a defense agency to enter into a contract with such a firm: (1) at the end of the 30-day period after such agency head submits a report to the Congress describing such contract; and (2) if the Secretary of Defense has determined that entering into such a contract would not be inconsistent with the foreign policy or national security objectives of the United States. Directs the head of an agency to require any firm submitting a bid or proposal to disclose any significant interest owned or controlled by a foreign government. Makes this Act inapplicable to: (1) contracts for less than $100,000; or (2) the Coast Guard or the National Aeronautics and Space Administration. Directs the Secretary, within 180 days after the enactment of this Act, to prescribe regulations to carry out this Act. Prohibits the Secretary from obligating or expending any amount appropriated to the Department of Defense for FY 1986 or 1987 for certain engineering equipment acquisition contracts to any firm in which the Libyan Government owns or controls a significant interest.
United States · United States Congress · 19 June 1986
Designates July 3, 1986, as Let Freedom Ring Day. Requests the President to encourage people to ring bells immediately following the relighting of the torch of the Statue of Liberty.
United States · United States Congress · 18 June 1986
Nuclear Winter Research Act of 1986 - Directs the Secretaries of Defense and of Energy to obligate specified amounts out of appropriated funds for FY 1987 through 1991 for nuclear winter research activities. Requires the Secretary of Defense, acting through the Director of the Defense Nuclear Agency, to distribute certain allocations to government and nongovernment entities for nuclear winter research activities. Allocates a specified amount for the Nuclear Winter Study Commission established by this Act. Directs such Commission to conduct a comprehensive study on the consequences of nuclear explosions and exchanges, including the implications of such consequences upon U.S. military and civil defense policies. Requires the Commission to report to the President and the Congress regarding the conduct of such study.
United States · United States Congress · 17 June 1986
Amends the National Housing Act to extend authority through FY 1987 for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Sets forth specified limits on FY 1986 and 1987 insured housing loans and on FY 1987 guaranteed mortgage-backed securities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through FY 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through FY 1987 for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 to 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through FY 1987. Amends the National Housing Act to extend authorities for the national crime insurance program and existing contracts through FY 1987. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through FY 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend for 30 days the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through FY 1987. Extends the Home Mortgage Disclosure Act through FY 1987.
United States · United States Congress · 11 June 1986
Education for Economic Security Amendments of 1986 - Amends the Education for Economic Security Act to replace the current title II, Education for Economic Security program, with a new title II, Teacher Training and Improvement Program. Provides that such title may be cited as the "Teacher Training and Improvement Act." Authorizes appropriations to carry out such program for FY 1987 through 1991. Provides for allotment of funds to States for State and local projects, and for reservations of funds for national programs, Department of the Interior schools for Indian children, and specified U.S. territories and possessions. Sets forth State application requirements. Requires that funds for State and local projects be used for: (1) inservice education for teachers to improve subject matter and teaching skills, including those needed to maintain an orderly classroom environment; (2) inservice education for school administrators to improve leadership skills, including those needed to maintain an orderly school environment; (3) retraining teachers who wish to teach different subjects; (4) support, including scholarships and internships, for qualified persons in other professions who wish to become teachers or school administrators; (5) improved preservice education of teachers and school administrators; (6) improved teacher education programs; (7) recognition of excellent performance by teachers or school administrators by awarding fellowships for further study or research and writing opportunities; (8) personnel exchange programs between education and other fields; and (9) other activities consistent with the purposes of this Act. Sets forth requirements for equitable program participation by private nonprofit school teachers and administrators. Sets forth provisions for national programs, including: (1) summer institutes and centers; (2) scholarships and fellowships; (3) exchange programs; (4) awards for development and testing of teacher education programs; (5) presidential teacher internships; (6) awards for individual research projects; (7) information collection and dissemination; (8) research on teaching and improving preservice and inservice education; and (9) developing model programs for providing skills to maintain an orderly classroom environment. Provides that Federal funds to State or local educational agencies under this Act must be used to supplement, not supplant, non-Federal funds. Bars use of Federal funds under this Act to benefit teachers or school administrators in private, for-profit schools. Repeals provisions of the Education Amendments of 1978 relating to territorial teacher training assistance. Repeals the Leadership in Educational Administration Development Act of 1984.
United States · United States Congress · 11 June 1986
Nonappropriated Fund Instrumentalities Employees' Civil Service Retirement Credit Act of 1986 - Includes as creditable service for purposes of civil service retirement any service performed after June 18, 1952, as an employee paid from nonappropriated funds of the military if such service involved conducting an arts and crafts, drama, music, library, service club, youth activities, sports, or recreation program for armed forces personnel. Directs the Office of Personnel Management to accept the certification of the Secretary of the appropriate military department concerning such service. Requires each nonappropriated fund instrumentality that employed an individual who qualifies for such creditable service to pay to the Civil Service Retirement and Disability Fund the amount that would have been deducted from the pay of such individual, plus interest. Provides for a redetermination of civil service annuities based on amendments made by this Act.
United States · United States Congress · 9 June 1986
Depository Institutions Insider Fraud Prevention Act of 1986 - Title I: Civil Enforcement - Amends the Federal Deposit Insurance Act, the Home Owners' Loan Act, and the National Housing Act to expand the scope of enforcement authority of the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank Board (FHLBB), and the Federal Savings and Loan Insurance Corporation (FSLIC) to include any affiliate service corporation of an insured bank, institution, or association (entity) and any wholly or partly owned subsidiary of such corporation. Subjects any person participating in conducting the affairs of an entity, including any employee, agent, or stockholder thereof, to removal or suspension by such banking agencies. Authorizes the banking agencies to ban an entity director or officer or any other person participating in conducting entity affairs from participating in conducting the affairs of any federally regulated depository institution without the prior written approval of the appropriate agency. Requires each banking agency to enforce a ban issued by any other banking agency. Authorizes each banking agency to impose such a participation ban against a director, officer, or participating person who has ceased to hold the position of director or officer or to participate in conducting entity affairs before the agency has commenced enforcement action. Authorizes each banking agency to suspend or remove an entity director or officer or to issue a participation ban against any other person if such director, officer, or person received a financial gain from improper conduct at another entity or business. Authorizes each banking agency and the National Credit Union Administration Board to take certain disciplinary actions against appraisers who have willfully, or through gross negligence, misrepresented the value of real property serving as collateral for a loan made by any federally insured institution. Permits cease and desist orders issued by the banking agencies to include restrictions on specific activities. Authorizes a banking agency, whenever an entity's books and records are so incomplete or inaccurate that the agency is unable to determine the entity's financial condition, to issue a temporary order requiring the entity, director, officer, or participating person to: (1) cease and desist from any practice contributing to such problem; or (2) take affirmative action to restore such books and records to a complete and accurate state. Increases to $5,000 per day the maximum penalty for violating banking agency cease and desist orders. Establishes the same maximum penalty for any other violation of safe and sound banking practices, laws or regulations, or banking agency conditions or agreements. Prohibits any person who has been convicted of any criminal offense involving dishonesty or breach of trust from serving as an entity director, officer, or employee or participating in conducting the affairs of an entity. Increases the maximum penalty for violating such prohibition to $5,000 per day. Requires each banking agency to publish a notice summarizing the provisions of any civil enforcement order within 15 days after the order becomes final. Permits an agency to delay publishing such notice if publication would seriously threaten the safety and soundness of any federally regulated depository institution. Requires each banking agency to provide any external auditor engaged by an entity with copies of reports of condition, examination reports, agency agreements and supervisory memoranda, and civil enforcement orders pertaining to such entity for the appropriate period. Title II: Right to Financial Privacy Act Amendments - Amends the Right to Financial Privacy Act of 1978 to permit any financial institution or supervisory agency to provide the U.S. Attorney General or a State law enforcement agency with any financial record believed to be relevant to a possible violation of any law relating to: (1) crimes against a financial institution or supervisory agency by any director, officer, employee, agent, or shareholder of a financial institution; or (2) aiding, abetting, or conspiring with such a person in such a crime. Repeals a requirement that customer records subpoenaed from a financial institution be returned and actually presented to the grand jury. Permits the exchange of financial records or other information concerning a financial institution among the member agencies of the Federal Financial Institutions Examination Council and the Securities and Exchange Commission. Requires a financial institution to be prepared to deliver requested financial records to a Government authority within 14 days after receiving a certificate of compliance with the Right to Financial Privacy Act of 1978 or a letter certifying that the circumstances of the request qualify as an exception to disclosure restrictions. Title III: Change of Control Amendments - Amends the Federal Deposit Insurance Act and the National Housing Act to authorize one 30-day extension, at the agency's discretion, of the period during which a banking agency may disapprove a proposed change in control of an insured bank or institution and two additional 45-day extensions if the acquiring party furnishes incomplete or inaccurate information. Requires the appropriate banking agency to: (1) investigate the competence, experience, integrity, and financial ability of each person named in a notice of a proposed acquisition as a person by whom or for whom such acquisition is to be made; (2) make an independent determination of the accuracy and completeness of the information provided about such persons in the acquisition notice; and (3) publish the names of such persons and the entity to be acquired and solicit public comment on the proposed acquisition, unless the agency determines that such disclosure or solicitation would seriously threaten the safety or soundness of the entity. Sets a maximum civil penalty of $5,000 per day for any violations of change of control laws or regulations shown not to be willful. Authorizes the appropriate banking agency to conduct investigations using subpoena authority and to seek injunctions or other relief in U.S. district court in response to violations of change of control laws or regulations. Title IV: Fidelity Bond Requirements - Amends the Federal Deposit Insurance Act and the National Housing Act to require the FDIC and the FSLIC to: (1) require each insured bank or institution to provide protection and indemnity against insurable fidelity losses; and (2) set minimum amounts of required standard and excess fidelity insurance coverage. Permits such agencies to contract for, and assess an entity for, coverage the entity fails to obtain on its own. Provides that such a failure shall constitute an unsafe or unsound practice. Title V: Report to Congress - Requires the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the FDIC, the FHLBB, and the FSLIC to report to the Congress annually concerning: (1) statistics on civil enforcement actions (including amounts of civil money penalties); (2) the number, nature, status, and disposition of criminal referrals to State and Federal law enforcement agencies; and (3) all other enforcement efforts against insider depository institution fraud and abuse.
United States · United States Congress · 5 June 1986
United States House of Representatives Election Recount Act of 1986 - Declares that any recount of ballots for the office of Representative shall be completed: (1) in a general election by December 31 of the year of the election; and (2) in a special election by the end of six weeks after the election.
United States · United States Congress · 3 June 1986
Depository Institution Examination Improvement Act of 1986 - Redesignates the Financial Institution Examination Council as the Depository Institutions Examination Council. Directs the Council to: (1) divide the continental United States into regions approximating the districts of the Federal depository institutions regulatory agencies; (2) study and report to such regulatory agencies annually on the amounts of compensation and benefits provided to private sector accountants, auditors, and other representatives of financial service industries in each region who perform functions similar to those performed by Federal examiners; and (3) prepare guidelines for such agencies which would ensure adequate compensation for living and travel expenses for any Federal examiner who is temporarily assigned outside of his or her regular region of employment. Requires such report to be considered in the establishment and approval of Federal examiner compensation. Repeals provisions requiring the Secretary of the Treasury's approval of examiners appointed by the Comptroller of the Currency. Provides that specified civil service laws concerning employment and retention, performance, pay and allowances, and retirement shall not apply to any Federal depository institutions regulatory agency or any officer or employee thereof. Defines such an agency as the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank Board (FHLBB), the Federal Savings and Loan Insurance Corporation (FSLIC), and the National Credit Union Administration (NCUA). Provides that the estimated expenditures and receipts of such entities (excluding the Federal Reserve Board) included in the annual Federal budget submitted to the Congress by the President shall be submitted to the President before October 16 of each year and included in the President's budget without change. Exempts such entities from fiscal, budget, appropriation, and fund apportionment requirements. Amends the Balanced Budget and Emergency Deficit Control Act (Gramm-Rudman-Hollings Act) to exempt from reduction under any sequestration order: (1) assessment funds of the Comptroller of the Currency; (2) the FDIC; (3) the FHLBB; (4) the FHLBB revolving fund; (5) the FSLIC fund of the FHLBB; and (6) the central liquidity facility, the credit union share insurance fund, and the operating fund of the NCUA. Provides that the pay and number of employees of a regulatory agency shall not be subject to any limitation imposed by any executive branch officer outside such agency. Directs the Council to study and report to each regulatory agency on proposals for retirement, disability, and other appropriate benefit programs for agency employees and dependents. Requires each agency, within 18 months after enactment of this Act, to establish a retirement and disability program or to consider modifying any existing program on the basis of the Council's recommendations. Permits each agency to establish other employee benefit programs. Provides for the transfer of accrued employee and employer contributions and interest therein from the Civil Service Retirement and Disability Fund to the agency employee retirement and disability program. Subjects the FHLBB, the Federal Home Loan Banks, the FSLIC, and the NCUA to audits by the Comptroller General. Establishes the FSLIC as a mixed-ownership Government corporation (currently listed as a wholly owned Government corporation). Repeals specified authority of the Treasury to approve actions and appoint staff of the Comptroller of the Currency. Directs the Council to: (1) develop a proposal for consolidating all Federal examiner training programs in one school to be established and conducted by the Council; and (2) report to specified congressional committees on its findings, legislative recommendations, and the savings to the regulatory agencies that would result from such consolidation. Requires the Council to: (1) study the feasibility of establishing a graduate degree program in financial management analysis for officers and employees of the regulatory agencies and the State depository institutions' supervisory agencies (State agencies); and (2) report to specified Congressional committees on its findings, legislative recommendations, the cost of establishing and conducting the program, and on the approval or disapproval by each regulatory agency of the Council's proposal for such program. Requires the Council to establish minimum requirements for examinations of depository institutions by State agencies in order for such an examination to be acceptable for purposes of Federal law. Prohibits such requirements from exceeding the minimum standards in effect for Federal examiners. Directs the Council: (1) at least annually, to request each State agency which examines institutions subject to Federal examination to allow the Council to review its examination methods; (2) to notify a State agency if its examination methods do not satisfy such minimum requirements and allow the agency not more than three years to cure any deficiency; and (3) to notify each Federal regulatory agency if a State agency refuses to allow a review of its examination methods or fails to remedy any deficiency in its methods. Prohibits any Federal regulatory agency or any regional bank, branch, or other office of such Federal agency from relying on any report of examination by a State agency for which such a notice has been received to fulfill an examination requirement under Federal law. Permits the Council to limit the scope of a notice to: (1) a separate branch or department of a State agency which has authority to conduct examinations; or (2) a State agency's capacity to examine a particular type of depository institution. Requires the FDIC, the FHLBB, the FSLIC, and the NCUA Board to accept any report of examination made by a State agency which meets the minimum requirements as determined by the Council, unless any such entity determines that the State agency does not meet such minimum requirements and notifies the State agency of the reason for such entity's refusal to accept such agency report.
United States · United States Congress · 22 May 1986
Federal Savings and Loan Insurance Corporation Recapitalization Act of 1986 - Amends the Federal Home Loan Bank Act to require the Federal Home Loan Bank Board (Board) to charter the Financing Corporation. Requires the Corporation to be directed and operated by a Directorate consisting of the Director of the Office of Finance of the Federal Home Loan Banks (Banks) and two other members selected by the Chairman of the Board from presidents of the Banks or their successors. Requires each Bank to invest in nonvoting capital stock of the Corporation. Limits the cumulative investment of all Banks to $3,000,000,000 and of each Bank to the sum of its required reserves plus its undivided profits, as prescribed by this Act. Sets forth a formula for determining the prorated portion of funds to be invested by each Bank. Restricts dividend payments by a Bank until it invests its required amount. Empowers the Corporation to borrow, to issue stock to Banks, to invest in Federal Savings and Loan Insurance Corporation (FSLIC) securities, and to issue debt the proceeds of which shall be invested in the FSLIC. Provides that the Corporation shall have no employees. Authorizes the Directorate to authorize Bank and Board employees to act on behalf of the Corporation. Authorizes Federal Reserve banks to act as depositaries, custodians, and fiscal agents for the Corporation. Provides that the Corporation shall be exclusively liable for its obligations which shall be lawful investments and exempt securities under laws administered by the Securities and Exchange Commission. Prohibits the Corporation from making any net new borrowings after December 31, 1996. Provides that General Accounting Office audits of the Corporation shall not be limited to periods during which Government capital has been invested therein. Directs the Corporation to invest assets that it does not invest in the FSLIC in the same obligations in which Banks are permitted to invest reserves. Limits the amount of issued and outstanding obligations of the Corporation. Requires the liquidation of the Corporation and the retirement of its obligations by December 31, 2026. Amends the Government Corporations Control Act to establish the Corporation as a mixed ownership Government corporation. Authorizes the FSLIC to issue nonredeemable capital certificates and redeemable nonvoting capital stock which shall be invested in by the Corporation, shall be included as part of the primary reserve of the FSLIC, and shall pay dividends equal to the Corporation's interest payments on its obligations and issuance costs, with specified exceptions. Authorizes the FSLIC to use accumulated contributions to its equity return account to pay off and retire its capital stock upon the maturity of all Corporation obligations. Sets forth formulae for calculating the FSLIC's annual contributions to such account beginning in 1977 based on the fraction of the aggregate amount of all accounts of all insured members equal to FSLIC reserves. Provides that certain statutorily prescribed actions regarding the FSLIC's primary and secondary reserves shall not apply as long as shares of its capital stock are outstanding. Allows the Board to authorize a Bank to declare and pay dividends out of its undivided profits or legal reserves, only after such Bank has reduced all other reserves to zero, if: (1) the Bank incurs a charge-off or expense related to its investment in the Corporation; and (2) the Board determines that there is an extraordinary need for such Bank's member institutions to receive dividends. Provides that provisions concerning retirement of the FSLIC's capital stock shall not apply to FSLIC stock issued to the Corporation under this Act. Entitles any security granted to a Bank by a Bank member or member affiliate to have priority over the claims and rights of any party having rights of lien creditor, other than the claims of secured parties that are secured by actual perfected security interests otherwise entitled to priority under applicable law.
United States · United States Congress · 22 May 1986
Sub-Saharan Africa Natural Resource and Environmental Management Training and Education Act of 1986 - Requires the President, in order to promote a long-term development program for sub-Saharan Africa, to establish and provide assistance for a training and education program to encourage the development and utilization of appropriate natural resources and environmental management techniques. Requires particular emphasis to be placed on local-level training in techniques using smaller, cost-saving, community-based technologies. Sets forth elements to be included in such program. Requires the training under this program to incorporate women's needs in appropriate proportions to their traditional participation in the targeted activity. Requires each Agency for International Development (AID) development strategy statement for each sub-Saharan African country to include a plan to assist that country in the development of an effective natural resource and environmental management training and education program. Requires program activities to include close consultation with, and involvement of, community and local organizations. Requires the objectives of this Act to be accomplished whenever practicable through private and voluntary organizations or national nongovernmental organizations. Requires AID to make available funds for training and education activities in sub-Saharan African countries in accordance with this Act for FY 1987. Urges AID to request technical assistance from other Federal agencies where appropriate. Requires AID to review and report to the Congress on the effectiveness of existing indigenous capabilities for natural resource and environmental management training.
United States · United States Congress · 22 May 1986
Amends the Impoundment Control Act of 1974 to require any proposed budget deferral to specify a date on which the budget authority shall be released for obligation. Prohibits any amount of the authority to be withheld from obligation after such date. Requires such date to be no later than the earlier of: (1) the end of the fiscal year or the date on which the authority must be released to assure its prudent obligation, if the authority expires at the end of the fiscal year in which the deferral is proposed; and (2) 365 days after the special message proposing the deferral is transmitted to the Congress or the date on which the authority must be released to assure its prudent obligation, if the authority is available for more than one fiscal year. Deems any budget deferral not meeting such requirements to be a budget rescission as determined by the Comptroller General within five days after the proposed deferral is transmitted to the Congress. Prohibits more than one proposed deferral of budget authority available for more than one fiscal year. Requires budget authority proposed to be deferred to be made available for obligation if a joint resolution disapproving such deferral is enacted. Directs the President to include with any special message to the Congress proposing to reserve budget authority the same information required to be included with a proposed budget deferral. Requires the Comptroller General, within five days after such transmittal, to determine whether the proposed reservation: (1) meets statutorily prescribed requirements; and (2) proposes to withhold or delay the obligation or expenditure of budget authority in a manner which imposes the management and administration of the authority without diverging from the purposes of the Congress in making such authority available. Requires the proposal to be treated as a deferral if it does meet such standards and as a rescission if it does not.
United States · United States Congress · 22 May 1986
Amends the Internal Revenue Code to provide that the value of transportation provided to any person on a noncommercially operated aircraft shall be considered "no-additional-cost service" and therefore excludible from gross income if: (1) such transportation is provided on a flight made in the ordinary course of the trade or business of the taxpayer owning or leasing such aircraft for use in such trade or business; (2) the flight on which the transportation is provided would have been made whether or not such person was transported on the flight; and (3) no substantial additional cost is incurred in providing such transportation to such person.
United States · United States Congress · 22 May 1986
Amends the Internal Revenue Code to allow homeowners to deduct the full amount of prepaid interest in connection with the refinancing of their principal residences for the taxable year in which paid.
United States · United States Congress · 22 May 1986
Constitutional Amendment - Requires the President, prior to each fiscal year, to transmit to the Congress a proposed Federal budget in which total outlays do not exceed total estimated revenues. Permits the President to recommend an alternative budget in which outlays exceed revenues with a detailed explanation of the need for such excess. Prohibits the Congress from making any law which would cause outlays to exceed revenues in a fiscal year. Permits the Congress to suspend such prohibition in time of war or national emergency by passing a concurrent resolution by a three-fifths vote of both Houses. Prohibits enactment of a bill to increase revenue unless it passes each House of Congress by a majority rollcall vote.
United States · United States Congress · 21 May 1986
Amends the Consolidated Budget Reconciliation Act of 1985 to hold a State harmless in FY 1987 against changes that Act effected in the annual calculation of the Federal medical assistance percentage under title XIX (Medicaid) of the Social Security Act if such changes would cause a reduction of Medicaid payments to the State in FY 1987.
United States · United States Congress · 20 May 1986
Amends the Internal Revenue Code to allow homeowners to deduct the full amount of prepaid interest in connection with the refinancing of their principal residences for the taxable year in which paid.
United States · United States Congress · 14 May 1986
Prescription Drug Marketing Act of 1986 - Amends the Federal Food, Drug, and Cosmetic Act to permit only the U.S. manufacturer of a drug to reimport such drug into the United States. Prohibits the sale of prescription drug samples. Permits the distribution of samples only to practitioners licensed to prescribe such drugs. Requires such practitioners to return a receipt for such drug samples to the manufacturers to be kept and made available to Federal and State officials. Requires drug wholesalers to provide drug purchasers with a statement identifying the manufacturer and each sale of the drug. Directs the Secretary of Health and Human Services to issue licensing standards for drug wholesalers.
United States · United States Congress · 8 May 1986
Expresses the sense of the House of Representatives that if the basis recovery rule for annuities of employees who contribute to their retirement program is changed in tax reform legislation, in no event should such change apply to individuals retiring before the date of enactment of such legislation.
United States · United States Congress · 6 May 1986
Torture Victim Protection Act of 1986 - Amends the United Nations Participation Act of 1945 to impose civil liability on anyone who, under actual or apparent authority of any foreign nation, subjects any person to torture or extrajudicial killing. Grants jurisdiction over such cases to U.S. district courts only after claimants have exhausted all available remedies in the place in which the conduct giving rise to the claim occurred.
United States · United States Congress · 30 April 1986
Provides that, for taxable years beginning after 1984, rural letter carriers are permitted to compute the amount of their deduction for use of their automobiles in performance of such services: (1) by using a standard mileage rate for all such miles of such use equal to 150 percent of the basic standard rate; or (2) without applying the limitation on deductions rules where the business use of the automobile used in performing such services is not greater than 50 percent of the time. Prohibits the use of 150 percent of the basic standard mileage rate in determining the allowable deduction where the taxpayer claimed an investment tax credit or depreciation deduction for such automobile.
United States · United States Congress · 17 April 1986
Nuclear Waste Policy Reform Amendments Act of 1986 - Amends the Nuclear Waste Policy Act of 1982 to prohibit the Secretary of Energy from implementing nuclear waste disposal activities with respect to more than one repository. Declares that any such activities commenced (or decisions made by the Secretary) before the date of enactment of this Act shall be rescinded or terminated. Prohibits the Nuclear Regulatory Commission from authorizing the construction of more than one repository under such Act. Provides that if the Secretary does not meet the January 31, 1998, deadline for high-level radioactive waste disposal then the Secretary must cease all repository activities until: (1) the Nuclear Waste Repository Review Commission (established by this Act) submits a certain report to the Congress; and (2) the Congress specifically authorizes the continuation of such repository activities (thus imposing a moratorium on repository development). Removes the deadlines by which the Secretary and the President must submit candidate site nominations for second repository site characterizations. Prohibits the Secretary from nominating or recommending any crystalline rock site for site characterization for a repository. Removes the volume limitation placed upon a first repository. Establishes the Nuclear Waste Repository Review Commission (if a repository moratorium takes effect) to: (1) review scientific data regarding repository suitability; and (2) compare the use of repositories for radioactive waste disposal with alternative technologies for the permanent isolation of such waste. Requires the Review Commission to report to the Congress by a certain date regarding its activities and recommendations. Authorizes appropriations. Terminates such Commission upon submission of its report. Sets deadlines for draft revisions of the Secretary's mission plan under such Act.
United States · United States Congress · 17 April 1986
Amends the Federal Aviation Act of 1958 to provide that: (1) any person delivering property to an air carrier for shipment in air commerce is deemed to have consented to a search of such property by a law enforcement officer at any time; and (2) any person presenting himself for boarding an aircraft for transportation in air commerce is deemed to have consented to a search, including a search of his or her property intended to be transported on such aircraft.
United States · United States Congress · 17 April 1986
Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to allow an extension of time for the filing of claims for credit or refund of Federal income taxes for insolvent farmers who were exempted by such Act from the alternative minimum tax on capital gains realized on the transfer or sale of farmland under threat of foreclosure or in cancellation of indebtedness.
United States · United States Congress · 17 April 1986
Declares that the House of Representatives, on behalf of the U.S. people, expresses its gratitude to the Government and people of the United Kingdom who assisted the United States in its exercise of self-defense against Libya and in the fight against state-sponsored international terrorism.
United States · United States Congress · 15 April 1986
Expresses the sense of the Congress that, in light of specified international human rights agreements, the Soviet Union should approve the exit visa applications of Doctor Naum Meiman and his wife, Inna Kitrosskaya, and arrange for them to go to the country of their choice. Urges the President to: (1) protest the Soviet Government's refusal to consider the exit visa applications of Dr. Meiman and his wife; (2) call upon all other signatory nations of the Helsinki Accords to join in such protest; and (3) instruct the U.S. delegation to the meeting of experts on human contacts organized under the auspices of the Conference on Security and Cooperation in Europe, to be held in Bern, Switzerland, to pursue this matter.
United States · United States Congress · 10 April 1986
Amends the Garn-St Germain Depository Institutions Act of 1982 to extend the Deposit Insurance Flexibility Act and the Net Worth Certificate Act until July 15, 1986.
United States · United States Congress · 9 April 1986
Bilingual Education Act Amendments of 1986 - Amends the Bilingual Education Act (the Act) to add to the statement of policy the declaration that, regardless of the method of instruction, programs which serve children of limited English proficiency have the equally important goals of developing both academic achievement and English proficiency. Removes a requirement that the Secretary of Education (the Secretary) reserve limited portions of funds under the Act for special alternative instructional programs and related activities. Removes a requirement that the Secretary reserve at least 75 percent of funds under part A (Financial Assistance for Bilingual Education Programs) of the Act for transitional bilingual education programs.
United States · United States Congress · 8 April 1986
Expresses the sense of the Congress that the Farm Credit Administration and its associated agencies and institutions should take additional actions to alleviate the agricultural financial situation, including restructuring, rather than foreclosing, loans.
United States · United States Congress · 13 March 1986
National Space Grant College Act - Establishes, within the National Aeronautics and Space Administration (NASA), a national space grant college program to provide financial and other assistance for space-related projects administered by a space grant college, consortium, institute, laboratory, or State or local agency. Provides for: (1) a NASA Director of such programs; (2) grants and contracts to assist space grant programs or projects, programs or projects addressing national needs or problems relating to space, and programs or projects promoting international cooperation relating to space; (3) designation of space grant colleges and space grant regional consortia; (4) space grant fellowships; (5) a space grant review panel; (6) interagency cooperation; and (7) a biennial report and evaluation to the Congress. Authorizes appropriations for FY 1986 through 1989.
United States · United States Congress · 12 March 1986
Uniformed and Overseas Citizens Absentee Voting Act - Requires States to provide by law for elections for Federal office: (1) absentee registration and absentee voting for uniformed services voters and overseas voters; and (2) the use of alternative write-in absentee ballots by overseas voters. Directs the President to designate the head of an executive department to have primary responsibility for the administrative functions of this Act, including: (1) prescribing an official postcard form containing a voter registration and an absentee ballot application; (2) prescribing an alternative write-in ballot for overseas voters; (3) prescribing forms and designs for balloting materials; (4) distributing election materials; and (5) reporting to the Congress in even-numbered years on its effectiveness. Provides for the distribution of official postcards. Sets forth recommendations to the States in carrying out provisions of this Act. Authorizes the use of the alternative write-in ballots in lieu of absentee ballots under specified circumstances. Directs the Postmaster to expedite the transport of election materials and declares such materials free of postage.
![Official portrait of Rep. Barnard, Doug, Jr. [D-GA-10]](https://www.congress.gov/img/member/0cfaa9df4c43300bfb59befe46ba7cd8_200.jpg)