United States · United States Congress · 17 August 1978
Anti-Inflation Tax Reduction and Reform Act - Amends the Internal Revenue Code to provide cost-of-living adjustments for the individual income tax rates and withholding tables.
United States · United States Congress · 16 August 1978
Expresses the sense of Congress that the Environmental Protection Agency, the Nuclear Regulatory Commission, and the Federal courts should expedite all remaining administrative and judicial proceedings with respect to the Seabrook Nuclear Station project (New Hampshire), and that all licensing and permitting procedures for the construction and operation of nuclear generating stations should be reviewed and modified to improve the efficiency of such procedures.
United States · United States Congress · 11 August 1978
Federal Reserve Act Amendments - Amends the Federal Reserve Act to authorize the Board of Governors of the Federal Reserve System to require specified depository institutions to submit to the Board such periodic financial reports as the Board determines to be necessary for it to control and monitor monetary aggregates. Subjects to reserve requirements any bank that is either an insured bank or is eligible to apply to become an insured bank under the Federal Deposit Insurance Act. Exempts savings and mutual savings banks as defined in such Act from reserve requirements. Requires such banks to maintain reserves against their reservable liabilities, as such term is defined in this Act, at a rate of six percent, or at such other rate between five and one-half and six and one-half percent as the Board may by requlation prescribe. Sets forth a formula for determining the amount of reservable liabilities held by such banks. Eliminates the use of different reserve ratios for member banks not in reserve cities. Authorizes the Board to impose reserve requirements outside the limits established by this Act for 30-day periods upon a finding that extraordinary circumstances require such action. Authorizes the Board to establish additional reserve requirements against: (1) net balances owed by domestic offices of banks in the United States to foreign offices or banks; and (2) loans to United States residents made by overseas offices of banks with offices in the United States. Grants certain privileges of member banks in the Federal Reserve System to nonmember banks maintaining reserves required by this Act.
United States · United States Congress · 3 August 1978
Extends the authority of the Board of Governors of the Federal Reserve System to regulate interest rates on deposits and share accounts in depository institutions from December 15, 1978, to December 15, 1980.
United States · United States Congress · 2 August 1978
Interstate Compact - Grants the consent of Congress to the Historic Chattahoochee Compact between Alabama and Georgia, for the purpose of promoting the cooperative development of the Chattahoochee Valley's potential for historic preservation and tourism and to establish a joint Historic Chattahoochee Commission to assist in such efforts.
United States · United States Congress · 2 August 1978
Extends the authority of the Board of Governors of the Federal Reserve System to regulate interest rates on deposits and share accounts in depository institutions from December 15, 1978, to December 15, 1980.
United States · United States Congress · 1 August 1978
Agricultural Foreign Investment Disclosure Act - Requires a report to the Secretary of Agriculture, containing legal name, address, citizenship, type of interest, and legal description of the land involved, and other specified information, from any foreign person (including individuals, organizations, governments, or any combination thereof) who holds, acquires, or transfers any interest, other than a security interest, in agricultural land. Establishes a civil penalty for violation of any provision of this Act in an amount not to exceed 25 percent of the fair market value of the land interest involved on the date of the penalty assessment. Requires the Secretary to report to the President and to Congress an analysis of the information obtained by him pursuant to this Act, and a determination of the effects of foreign holdings, acquisitions, and transfers on family farms and rural communities.
United States · United States Congress · 28 July 1978
Requests the President to convene a White House Conference on Foreign Trade to provide a forum for representatives of industries and labor organizations in the United States, scholars and experts in the field of foreign trade, representatives of Federal, State, and local government, and other interested persons to (1) examine and recommend methods to increase trade, (2) evaluate the recommendations made by the President's Task Force on Export Policy, and (3) assess the impact on the United States of the anticipated trade agreement of the Multilateral Trade Negotiations.
United States · United States Congress · 29 June 1978
Provides that where two or more Members of the House of Representatives pay the basic pay of an individual from the clerk-hire allowance of each such Member, such individual shall be considered to be on the payroll of only one such Member for purposes of determining the number of individuals employed by such Members under the clerk-hire allowance. Requires such Members to designate who shall be considered the employer for the month involved and to report such designation to the Office of Finance.
United States · United States Congress · 15 June 1978
Amends Title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act to require States having agreements for coverage of their employees under the system of insurance established by such Title to make payments and reports on a calendar-quarter basis.
United States · United States Congress · 12 June 1978
Stipulates that upon the withdrawal of approval of any portion of an Interstate Highway, the State involved, subject to the approval of the Secretary of Transportation, shall not be required to refund to the Highway Trust Fund any sums paid to the State for intangible costs. Stipulates that refunds shall not be required if the State applies such funds to an eligible transportation project or to a public conservation or recreation purpose within ten years.
United States · United States Congress · 9 June 1978
Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.
United States · United States Congress · 8 June 1978
Prohibits Congress from making any appropriations in excess of total estimated revenues in any fiscal year beginning with fiscal year 1980. Provides an exception to such prohibition in time of war or national emergency. Prohibits any increase in the national debt. Requires the repayment of the national debt during the next 100 years.
United States · United States Congress · 31 May 1978
Historic Properties Improvement Loan Insurance Act - Amends the National Housing Act to include nonresidential as well as residential structures within the definition of historic structures, for which the Secretary of Housing and Urban Development may insure rehabilitation loans. Provides for the designation of a "registered historic district" in accordance with a State or local statute, if such statute is certified as acceptable by the Secretary of the Interior. Increases the limit on the size of a loan financing a historic structure preservation which may be insured under this Act.
United States · United States Congress · 12 May 1978
Federal Reserve Membership Act - Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System to prepare and publish a schedule of fees for its services and a set of pricing principles no later than July 1, 1979, and to put a fee schedule into effect no later than July 1, 1980. Directs the Board to pay interest on those reserves which member banks are required to maintain at a rate not in excess of the rate paid on United States Treasury bills with maturities of three months. Requires that the Board prepare a study on the feasibility and impact of permitting member banks to invest a percentage of their required reserves in United States Treasury securities.
United States · United States Congress · 11 May 1978
Targeted Tax Relief Act - Amends the Internal Revenue Code to allow manufacturers planning property eligible for the investment tax credit in designated "labor surplus" areas to take double investment tax credits and depreciation deduction for the property. Doubles the allowable deduction for real property taxes on realty used in connection with this property.
United States · United States Congress · 8 May 1978
Declares that certain proposed regulations of the Department of the Treasury regarding centralized firearms sales recordkeeping and other firearms control measures exceed the Departments' authority, and directs that the regulations be withdrawn.
United States · United States Congress · 27 April 1978
New York City Financial Assistance Act - Title I: Emergency Assistance - Authorizes the Secretary of the Treasury to guarantee, under stated conditions, obligations of the City of New York or of its financing agent. Limits the total amount of guarantees that may be outstanding at any time to $2,000,000,000. Title II: Amendments to the Internal Revenue Code of 1954 - Makes interest income received on any obligation guaranteed under Title I of this Act after the date of the enactment of this title taxable under the Internal Revenue Code of 1954.
United States · United States Congress · 25 April 1978
Extends the authority to make veterans readjustment appointments of Vietnam era veterans to the Federal Government through September 30, 1980. Abolishes the time limitation on eligibility for such appointments for veterans eligible on April 9, 1970, or who were separated from the armed services on or after such date. Raises the maximum level for such appointments from GS-5 to GS-7. Provides that any disabled veteran shall be eligible for such appointment without regard to certain existing limitations on the amount of education a veteran may have to be eligible for such an appointment.
United States · United States Congress · 25 April 1978
Amends the Internal Revenue Code to authorize any taxpayer to elect to have any portion of any overpayment of tax or any contribution in money which the taxpayer forwards with the return for such taxable year be available, as the taxpayer may designate on such return, for the National Endowment for the Arts or the National Endowment for the Humanities.
United States · United States Congress · 20 April 1978
Increases from $250 to $350 the burial and funeral expense allowance which may be paid by the Veterans' Administration on behalf of certain deceased veterans.
United States · United States Congress · 20 April 1978
Provides for a burial allowance of $150 to be paid by the Veterans' Administration: (1) to any State or political subdivision thereof for burying a veteran in any cemetery owned by the State or subdivision if such cemetery or section thereof is used solely for the interment of veterans; or (2) to a person prescribed by the deceased veteran if burial is in a cemetery other than the kind described.
United States · United States Congress · 20 April 1978
Directs the Secretary of Defense to place a memorial plaque in the Trophy Hall of the Memorial Amphitheater at Arlington National Cemetery to pay tribute to those members of the armed force who served in Southeast Asia during the Vietnam era. Directs the Secretary, to honor those members who lost their lives in Southeast Asia, to display near such plaque the medals, ribbons, and decorations associated with service in Southeast Asia during the Vietnam era.
United States · United States Congress · 20 April 1978
Removes the requirement that a veteran die in the service in order to be entitled to a memorial headstone or marker when the veteran's remains have not been recovered or identified or have been buried at sea.
United States · United States Congress · 20 April 1978
Rural Housing Act - Amends the Housing Act of 1949 to state that foreclosure of any rural housing loan made, insured, or guaranteed under Title V of such Act shall be undertaken only as a last resort. Authorizes and directs the Secretary of Agriculture to conduct specified programs of research, study and analysis of rural housing. Authorizes the Secretary to make expenditures from the Rural Housing Insurance Fund in order to correct construction defects or to pay claims of the owner of property arising from such defects. Makes changes with respect to the Secretary's power to make rules and regulations. Authorizes increases in assistance to specified rural housing programs for fiscal years 1978 and 1979. Extends rural housing loans for elderly and handicapped facilities to include supervisory assistance personnel for congregate housing facilities. Makes it mandatory for the Secretary to provide rural rental assistance. Amends the Housing Act of 1949 to direct the Secretary to withhold assistance for specified programs from any otherwise eligible borrower who fails to incorporate energy conservation features into any structure commenced by such borrower after January 1, 1979.
United States · United States Congress · 18 April 1978
Amends the Trade Act of 1974, with respect to the authority of the President to negotiate trade agreements, to direct the President to reserve any article for which an agreement limiting agricultural imports has been entered into, from negotiations to reduce or eliminate customs duties or import restrictions.
United States · United States Congress · 11 April 1978
Veterans' Housing Improvements Act - Increases from $25,000 to $30,000 the maximum amount of assistance available for specially adapted housing for certain disabled veterans. Makes Vietnam era veterans eligible for home, condominium, and mobile home loans, and for automatic 60 percent guaranteed home loans. Increases the amount of a home loan which may be guaranteed by the Veterans' Administration from $17,000 to $25,000. Revises veterans' mobile home and mobile home lot loans provisions with regard to guarantees and removes the restriction against multiple loan entitlements and the requirement that the Veterans' Administration periodically inspect manufacturers and make onsite inspections to ensure compliance with mobile home standards established by the Administration. Provides a formula for determining the maximum amount available for direct veterans' loans for mobile homes and mobile home lots.
United States · United States Congress · 22 March 1978
New York City Financial Assistance Act - Title I: Emergency Assistance - Authorizes the Secretary of the Treasury to guarantee, under stated conditions, obligations of the City of New York or of its financing agent. Limits the total amount of guarantees that may be outstanding at any time to $2,000,000,000. Title II: Amendments to the Internal Revenue Code of 1954 - Makes interest income received on any obligation guaranteed under Title I of this Act after the date of the enactment of this title taxable under the Internal Revenue Code of 1954.
United States · United States Congress · 15 March 1978
Expresses the condemnation by the Congress of the March 11, 1978, attack on Israel by the Palestine Liberation Organization, and the expressed intention of the PLO to continue such attacks and to disrupt the peace efforts between Israel and Egypt. Requests the President to make the disapproval of the Congress known to governments approving the PLO attack. Expresses Congressional approval of the peace efforts between Israel and Egypt. Urges other Middle East countries to join such efforts. Declares negotiation to be the best way to bring peace to the Middle East.
United States · United States Congress · 14 March 1978
Social Security Refinancing Act - Amends Title II (Old-Age, Survivors, and Disability Insurance) and XVIII (Medicare) of the Social Security Act, and the Internal Revenue Code to finance the payment of disability insurance benefits and hospital insurance benefits through general tax revenues, rather than through employment and self-employment tax revenues. Reduces employment and self-employment tax rates below the rates established by the Social Security Financing Amendments of 1977.
United States · United States Congress · 15 February 1978
Amends the Federal Power Act to require the Federal Power Commission to hold an evidentiary hearing before approving public utility rate increases due to fuel adjustment clauses. Requires a showing that the clause effectively provides incentives for the economical purchase and use of fuel. Requires further that the clause is necessary to enable the utility to pay for the added fuel costs which are by nature short-term fluctuations and therefore not capable of determination in proceedings before such costs are incurred. Sets a one-year limit on approved fuel adjustment clauses and requires an evidentiary hearing before their renewal. Requires the Commission to examine and, if appropriate, to audit the practices of public utilities using fuel adjustment clauses. Requires relevant utilities to supply information as the Commission may require and makes such information available to the public. Grants to any purchaser of electric energy produced for resale and subject to a fuel adjustment clause, the right to examine the records of the relevant utility to insure compliance with applicable schedules and Commission rules. Requires the Commission, after affording the opportunity for an evidentiary hearing, to order the cessation or modification of any practice which does not constitute the most economical purchase and use of fuel. Amends the National Gas Act to impose similar restrictions on rate increases of natural gas companies pursuant to automatic adjustment clauses. Prohibits State regulated utilities from making rate increases pursuant to an automatic adjustment clause unless such clause has been determined to effectively provide incentives for the economical purchase and use of the fuel involved. Requires further that such clauses be necessary to enable the utility to pay for short-term fluctuations in fuel costs that are not susceptible to determination in proceedings held prior to such costs being incurred. Limits automatic adjustment clauses to one-year in duration, and requires an evidentiary hearing before their renewal. Requires the reviewing authority to examine and, if appropriate, to audit the practices of utilities with respect to fuel adjustment clauses. Requires that utilities supply such relevant information as is required by the State regulatory body and makes such information available to the public. Sets procedures for the certification of State regulatory bodies with respect to this Act. Requires the Commission to enforce the Act in the absence of State certification and upon the request of any State regulated utility. Amends the Federal Power Act to expand the scope of businesses forbidden from having interlocking directorates without Commission approval. Makes such approval no defense to actions under specified provisions of the Clayton Act. Amends the Natural Gas Act to expand the scope of natural gas companies forbidden from having interlocking directorates without Commission approval. Makes such approval no defense to actions under specified provisions of the Clayton Act.
United States · United States Congress · 7 February 1978
Legislative Oversight Act - Title I: Requirements for Authorization Bills - Requires all legislation considered by either House of Congress which authorizes new budget authority or increased tax expenditures to include a statement of objectives of the program to be authorized or established and a requirement that the agencies administering the program report annually to Congress to assist it in determining whether such program should be amended. Requires such agency reports to list the costs and accomplishments of each program. Title II: Requirements for Reports Accompanying Authorization Bills - Requires committee reports accompanying such legislation to identify expected economic and social costs and benefits of new programs authorized or established by such legislation, potentially duplicative programs, and previous efforts to accomplish the objectives of the program being considered. Requires reports to contain, if the legislation continues an existing program, authorization, or tax expenditure, an assessment of the degree to which such program or tax expenditure has met previously stated objectives. Requires the Comptroller General to publish and periodically update a descriptive catalog of interrelated Federal activities which compares program costs and accomplishments and describes program interrelationships, including the extent to which programs are duplicative. Title III: Presidential Budget Recommendations - Requires the President's budget to describe the relationship between the President's recommended program budgets and the program accomplishments reported by Federal agencies under this Act. Title IV: Authorization Time Limit; Certain Obligations not Impaired - Prohibits congressional consideration of any legislation which authorizes new budget authority or provides new or increased tax expenditures, or new spending authority for a period exceeding five years. Exempts from this prohibition national debt service and payments to individuals from Federal trust funds to which such individuals have contributed. Title V: Miscellaneous Provisions; Effective Date - Recognizes the authority of either House to amend this Act. Sets the effective date of this Act.
United States · United States Congress · 15 December 1977
Excludes from the Federal law limiting and restricting the corporate powers of national banking associations to deal in and underwrite investment securities specified dealing in and underwriting of all other nongeneral obligations issued or guaranteed by or on behalf of a State or any political subdivision thereof or agency of a State or any political subdivision thereof (except special assessment obligations and industrial revenue bonds) which are at the time eligible for purchase by a national bank for its own account, subject to specified limitations. Requires the Secretary of Treasury to submit an annual report to the Congress showing the extent to which the business of underwriting and dealing in State and local obligations is being carried on by commercial banks as compared with other banking institutions with a view to determining the effect of the amendment made by the first section of this Act on the institutional distribution of such business.
United States · United States Congress · 15 December 1977
Tuition Tax Credit Act - Amends the Internal Revenue Code to allow a credit against an individual's income tax in an amount equal to 50 percent of the sum of the amounts paid by him to educational institutions as tuition (though no more than $500 for any single individual) for the attendance of the taxpayer, the taxpayer's spouse, or any of his dependents with respect to whom he is entitled to a personal exemption.
United States · United States Congress · 1 December 1977
Truth in Lending Simplification Act - Amends the Truth in Lending Act to exempt transactions involving extensions of credit for agricultural purposes. Defines the finance charge as the sum of all charges imposed upon and payable by the consumer for the extension of credit. Requires the itemizing of finance charges except in the case of the sale of a dwelling or a consumer loan secured by a first lien. Amends the Truth in Lending Act by requiring from both consumer and creditor, statements indicating a security interest is taken and general descriptions of any other property which is the subject of or is in connection with extension of credit not under an open end credit plan. Requires the Board of Governors of the Federal Reserve System to provide readily understandable model forms and clauses to facilitate compliance with disclosure requirements. States that no civil or criminal liability applies for failure to make disclosure if the creditor utilized these model forms or clauses in good faith. Redefines the disclosure requirements to comply with the provisions of this Act.
United States · United States Congress · 29 November 1977
Emergency Farm Act - Directs the Secretary of Agriculture to establish the price supports for each of the 1977 through 1981 crops of feed grains, cotton, peanuts, rice, tobacco, wheat, soybeans sugar, wool, mohair, milk and honey at 100 percent of parity, unless a majority of the producers of any such commodity, in a referendum, vote to exempt such commodity from such support price.
United States · United States Congress · 3 November 1977
Expresses the sense of the Congress that any right to, title to, or interest in the property of the United States Government agencies in the Panama Canal Zone or any real property and improvements thereon located in the zone should not be conveyed, relinquished, or otherwise disposed of to any foreign government without specific authorization of such conveyance, relinquishment, or other disposition by any Act of Congress.
United States · United States Congress · 1 November 1977
Grants a Federal Charter to the Gold Star Wives of America. Stipulates that the purpose of such organization is to honor the memory of those who made the supreme sacrifice in the service of the United States.
United States · United States Congress · 20 October 1977
Amends the Federal Home Loan Mortgage Corporation Act to prohibit the Federal Home Loan Mortgage Corporation from issuing or applying rules or regulations which have the effect of excluding mortgagees approved by the Secretary of the Department of Housing and Urban Development for participation in specified mortgage insurance programs from the servicing of mortgages sold to the Corporation.
United States · United States Congress · 20 October 1977
Declares that there be no reduction of customs duties on textile or apparel products and that such products be excluded from the current Tokyo Round of Multilateral Trade Negotiations in Geneva.