United States · United States Congress · 12 June 1980
Small Business Investment Incentive Act of 1980 - Title I: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to include within the private offering exemption from full registration any transaction: (1) which is solely with accredited investors or persons the issuer believes to be accredited investors; (2) involving a security bearing a legend stating that such security may not be sold without compliance with the registration requirements or exemptions of such Act; and (3) for which there is no general advertising or solicitation. Defines the term "accredited investor" to include banks, insurance companies, registered investment companies, licensed small business investment companies, venture capital companies, any fund, trust, or account administered by a bank or insurance company, and any purchaser of $100,000 or more of the issuer's securities. Exempts from registration, as an action not involving an underwriter, any resale of a security to an accredited investor or a person the seller reasonably believes to be an accredited investor. Title II: Amendments to the Investment Company Act of 1940 and the Investment Advisers Act of 1940 - Amends the Investment Company Act of 1940 to define a "venture capital company" to include companies which: (1) are predominantly engaged in one or more of the businesses of (a) providing capital and managerial assistance to new businesses, businesses in need of reorganization, or businesses which cannot obtain capital from public markets on fair terms, (b) purchasing securities for which there is no ready market, (c) purchasing securities or assets to effect reorganizations which establish independent businesses, (d) acting as a small business investment company, or (e) a related business or activity as determined by the Commission; and (2) have at least 80 percent of their assets (excluding equipment and real estate maintained to conduct business operations, deferred operating expenses, and other property and assets necessary to its operation) in (a) securities obtained in a private offering or treated for purposes of resale as having been obtained in a private offering, (b) securities obtained in a corporate reorganization, or (c) Government securities, short-term paper, and cash items. Defines a private venture capital company to include companies: (1) which are predominantly engaged in such businesses; (2) which have at least 60 percent of their assets in such securities; and (3) the securities of which are issued only in transactions included within the private offering exemption from full registration of the Securities Act of 1933. Exempts from regulation as an investment company any venture capital company which has operated as such for at least three years or any private venture capital company, if such an eligible company: (1) has each class of its equity securities registered pursuant to the Securities Exchange Act of 1934; or (2) has outstanding securities beneficially owned by more than 100 persons, but only for a period of 180 days. Declares that for purposes of such Act, the beneficial ownership by a company of more than ten percent of the voting securities of an issuer shall be deemed to be ownership by one person if at the time the securities are purchased: (1) the value of all securities of all issuers which are exempt from regulation as investment companies owned by such company does not exceed ten percent of the value of the company's total assets; or (2) such company is a general partner, promoter, or investment adviser of such issuer. Requires the majority of the directors of an eligible venture capital company to be disinterested persons in order for such company to qualify for the exemption provided by this title. Places restrictions on dealings between the insiders of such a company and the businesses in which it invests. Authorizes the Commission to require eligible venture capital companies to comply with specified provisions of the Investment Company Act of 1940 pertaining to the custody of securities and fidelity bonding and indemnification. Prohibits any director, controlling person, or adviser of such a company from engaging in any fraudulent or deceptive act in connection with the purchase or sale of any security held by that company. Directs each eligible venture capital company to maintain such records as the Commission requires. Authorizes the Commission to require such a company to supply an annual statement summarizing the risks involved in investing in the securities held by such company to its shareholders, any registered broker or dealer upon request, and purchasers of such securities. Establishes a private right of action for damages or injunctive relief for persons injured by a willful violation of the restrictions or reporting requirements applicable to eligible venture capital companies under this Act. Authorizes the Commission to: (1) order an eligible company to comply with the requirements set forth in this title upon finding on the record that such company has failed to satisfy such requirements; and (2) prohibit any person from serving as an employee, officer, depositor, principal underwriter, or adviser for any eligible company if it finds, after an opportunity for hearing, that such person (a) made a misleading statement or report to the Commission, (b) willfully violated or contributed to a violation of the Securities Act of 1933, the Securities Exchange Act of 1934, or the Investment Advisers Act of 1940, (c) has been convicted within ten years of a felony or misdemeanor involving the purchase or sale of any security, or (d) is enjoined from acting in such capacity. Permits a venture capital company to register as an investment company, though it would be entitled to an exemption under this Act, provided it is not a personal holding company as defined in the Internal Revenue Code of 1954. Amends the Investment Advisers Act of 1940 to exclude as clients of an investment adviser, for purposes of determining the adviser's entitlement to an exemption from registration, any shareholder, partner, or beneficial owner of any company which is either an eligible venture capital company or a private company (as defined in this Act) unless either of such companies is a client of such investment adviser separate from its status as a shareholder, partner, or beneficial owner. Title III: Effective Date and Miscellaneous Provisions - States that this Act shall take effect upon its enactment. Authorizes and directs the Commission to study the effects of the exemption from regulation for eligible venture capital companies set forth by this Act and to report its findings to Congress.
United States · United States Congress · 11 June 1980
Farm Credit Act Amendments of 1980 - Title I: Federal Land Banks and Associations - Amends the Farm Credit Act of 1971 to authorize any Federal land bank, under the supervision of the Farm Credit Administration, to: (1) participate in loans with other Farm Credit System institutions (i.e., Federal land banks, Federal land bank associations, Federal intermediate credit banks, production credit associations, and banks for cooperatives); (2) participate in loans which the land banks are authorized to make with lenders which are not Farm Credit System institutions; (3) sell interests in loans to such lenders; (4) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (5) make other investments; (6) accept contributions to their capital from Federal land bank associations; (7) enter into agreements with other Farm Credit System institutions to share loan and other losses; (8) issue nonvoting stock to borrowers as a patronage refund; and (9) make or participate with other lenders in long-term real estate mortgage loans not exceeding 85 percent of the appraised value of the real estate security. Makes producers and harvesters of aquatic products eligible for Federal land bank services. Authorizes Federal land bank associations to make capital contributions to a Federal land bank. States that a member of a Federal land bank association need not make the required purchases of land stock with respect to that part of a loan derived from a lender which is not a Farm Credit System institution. Authorizes the Federal land bank associations to pay dividends on a differential basis between different classes and issues of stock and participation certificates corresponding to the value of such classes and issues to the capital or earnings of the Federal land bank in its district. Permits the Federal land bank associations to agree to share loan and other losses with other Farm Credit System institutions. Title II: Federal Intermediate Credit Banks and Production Credit Associations - Authorizes the Federal Intermediate Credit Banks, subject to the supervision of the Farm Credit Administration, to: (1) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (2) make other investments; (3) agree to share loan and other losses with other Farm Credit System institutions; (4) participate with other Farm Credit System institutions in making loans; and (5) issue nonvoting stock to such institutions. Authorizes the Federal intermediate credit banks to discount, or purchase from other financial institutions, loans made to producers and harvesters of aquatic products. Authorizes each production credit association, subject to the supervision of the intermediate credit bank in its district and the Farm Credit Administration, to: (1) buy from and sell to any bank in the Farm Credit System interests in loans, other financial assistance extended, and nonvoting stock; (2) participate in loans with other Farm Credit System institutions; (3) agree to share loan and other losses with other Farm Credit System Institutions; (4) issue participation certificates to eligible borrowers in lieu of nonvoting stock; and (5) issue participation certificates or nonvoting stock to any financial institution outside the Farm Credit System with which the association participates in a loan in satisfaction of the requirement that a borrower own such stock or participation certificates. Requires a borrower to own only that amount of stock or participation certificates which is proportionate to that portion of a loan retained by a production credit association when it participates with another lender in making a loan. Authorizes the production credit association to extend loan assistance to bona fide farmers, ranchers, and producers and harvesters of aquatic products for basic processing and marketing directly related to the borrower's operations. Requires the borrower's operation to provide a specified percentage of the total processing or marketing for which financing is extended. Title III: Banks For Cooperatives - Empowers each bank for cooperatives, subject to the supervision of the Farm Credit Administration, to: (1) participate with other Farm Credit System institutions in making loans; (2) deposit its securities and current funds with any domestic or foreign financial organization (presently, such deposits must be made at a member bank in the Federal Reserve System); (3) buy and sell bankers acceptances which are obligations of member banks in the Federal Reserve System; (4) buy and sell other obligations including those which arise in the course of transactions which the bank has assisted through loans; (5) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (6) make other investments; (7) invest in foreign and domestic business entities to facilitate the obtaining of credit information and the performance of services related to international transactions; (8) maintain credit balances to assist in the transfer of funds between parties to authorized transactions; (9) agree to share loan and other losses with other Farm Credit System institutions; and (10) issue participation certificates to parties who may not be issued voting stock. Requires all participation certificates, voting and nonvoting stock issued by the banks for cooperatives to be retired at par value. Authorizes the banks for cooperatives to: (1) offer a currency exchange for eligible cooperative associations; and (2) extend loans, loan participation commitments, and other technical and financial assistance to any domestic or foreign party in which a member cooperative has an ownership interest or which engages with the cooperative in dealings in agricultural or aquatic products, farm supplies or the lease of property, provided such assistance substantially benefits the member cooperative. Sets forth guidelines for regulations governing the extension of such assistance. Enables cooperatives solely engaged in furnishing aquatic business services to borrow from the banks for cooperatives. Reduces the degree of ownership in a cooperative which must be held by farmers, producers or harvesters of aquatic products, or other cooperative associations in order to make such a cooperative eligible to borrow from a bank for cooperatives. Requires a bank for cooperatives to retire any equity held by a borrower in default or dissolution at fair market value not to exceed the par value of the equity interest of the borrower. Prohibits the retirement or cancellation of such an equity interest if the bank's capital structure would be adversely affected. Permits each bank for cooperatives to transfer more than 25 percent of its net annual savings to a surplus account. Authorizes the banks for cooperatives to pay patronage refunds to borrowers in the form of participation certificates. Title IV: Provisions Applicable to Two or More Classes of Institutions of the System - Declares that interest rates established by the Farm Credit Administration for loans made by Farm Credit System institutions and by specified agricultural credit corporations shall preempt any interest rate limitation imposed by State law. States that when two or more Farm Credit System institutions participate in a loan as authorized by this Act, the terms of such loan shall be those agreed upon by the institutions. Requires that such factors as borrower eligibility, membership, term, amount, loan security and purchase of stock or participation certificates by the borrower are to be governed by the provisions of law applicable to the institution originating the loan. Exempts credit transactions of Farm Credit System institutions and specified agricultural credit corporations from the provisions of any State statute or any other law or regulation which impose, with regard to a credit transaction, any duty or requirement which is similar to those which have been imposed by the Truth in Lending Act. Requires each Federal land bank association and production credit association to prepare a program for furnishing sound and constructive credit and related services to young, beginning, and small farmers and ranchers. Directs the Federal land bank and the Federal intermediate credit bank for each district to annually obtain reports of activities under such programs. Authorizes the institutions of the Farm Credit System to organize corporations to perform non-lending functions and services which such institutions are authorized to perform. Empowers the Governor of the Farm Credit Administration to review and revise the charters of such corporations. States that such corporations shall be subject to supervision and examination by the Administration. Applies State and other laws relevant to organizing banks to such corporations, except for specified tax exemptions. Authorizes the sale to Farm Credit System members of insurance to protect the loan commitment and the member's farm or aquatic unit, with specified limitations. Permits banks and associations already offering insurance not authorized by this section to continue to sell such insurance for one year and continue to service such insurance until expiration. Title V: District and Farm Credit Administration Organization - Permits the Virgin Islands to be included within a farm credit district, if the extension of credit and other services in the Virgin Islands is determined to be feasible. Revises the process for the election of farm credit district directors by reducing from three to two the number of nominees on the election poll. Establishes the rate of compensation for the Federal Farm Credit Board at the daily equivalent of the rate prescribed for grade GS-18 of the General Schedule. Authorizes the Board to fix the salary of the Governor of the Farm Credit Administration at any level not exceeding the maximum rate of basic pay in the Executive Schedule. Authorizes the Governor to appoint Deputy Governors to provide assistance in the functioning of the Farm Credit Administration. Exempts the Administration from provisions of Federal law relating to appointments in the competitive civil service, travel expenses, allowances, procurement, and property disposition. Credits employees of Farm Credit System institutions with specified leave and retirement benefits when they are transferred to Federal service in the Farm Credit Administration. Authorizes the banks of the System, with the concurrence of two-thirds of the district boards, to sell or otherwise dispose of any interest in property. Requires the Farm Credit Administration to make annual reports to Congress which include a summary of any unresolved differences arising out of consultations with the Board of Governors of the Federal Reserve System and the Comptroller of the Currency and a summary and analysis of specified reports submitted to such Administration by the Federal land banks and Federal intermediate credit banks relating to programs for serving young, beginning, and small farmers and ranchers. Eliminates the requirement that such Administration maintain its principal office in the District of Columbia.
United States · United States Congress · 10 June 1980
Amends the Internal Revenue Code to provide that deferred compensation plans shall not be deemed as not satisfying minimum vesting standards even if there is a reasonable likelihood that the accrual of benefits or forfeitures under such plans will tend to discriminate in favor of employees who are officers, shareholders, or highly compensated.
United States · United States Congress · 10 June 1980
Directs the additional printing of copies of the report accompanying H.R. 7235 (H. Rept. 96-1035, economic regulation of railroads) for even distribution to the House of Representatives document room and the Committee on Interstate and Foreign Commerce.
United States · United States Congress · 9 June 1980
Extends the congratulations of the Congress to the Order of the Sons of Italy in America for their 75th anniversary. Proclaims Sunday, June 22, 1980, as "National Italian-American Day."
United States · United States Congress · 6 May 1980
Disapproves the proposed rule under the Natural Gas Policy Act of 1978 relating to incremental pricing of natural gas, a copy of which was transmitted to Congress on May 6, 1980.
United States · United States Congress · 1 May 1980
Rail Act of 1980 - Declares that the goals of this Act are: (1) to assist in rehabilitating the Nation's rail system to meet the demands of interstate commerce and national defense; (2) to reform Federal regulatory policy so as to preserve a safe and efficient rail system; (3) to assist the rail system to remain viable in the private sector of the economy; (4) to provide a regulatory process that balances the needs of carriers, shippers, and the public; and (5) to assist in the rehabilitation and financing of the rail system. Title I: Rail Transportation Policy - Amends the Interstate Commerce Act to set forth the policy of the United States in regulating the railroad industry, including: (1) establishment of reasonable rates through competition and demand for services; (2) minimum use of Federal regulatory control; (3) promotion of a safe and efficient rail transportation system by allowing rail carriers to earn an adequate rate of return; and (4) to provide rate regulation where there is an absence of effective competition. Title II: Railroad Rates, Profits, and Reinvestment - Authorizes a rail carrier providing transportation subject to the jurisdiction of the Interstate Commerce Commission to establish reasonable rates for transportation or other services. Directs that a shipper who challenges such rate shall have the burden of proving that such rate is unreasonable or that there is no effective competition. Removes such rail rates from the standards of the Interstate Commerce Act. Requires the Commission, within 90 days after the commencement of a rate challenge, to determine whether effective competition exists with respect to the transportation to which the rate applies. Grants jurisdiction to the Commission to determine whether such rate is reasonable if there is no effective competition. Directs the Commission to annually determine the cost recovery percentage of the transportation of all traffic received by rail carrier for transportation. Reduces from seven to four months the time allotted to the Commission to complete a proceeding and make a final decision concerning proposals for a rate, classification, rule, or practice. Prohibits the Commission from suspending such proposals during such proceeding except under specified circumstances. Alters the time period during which the Commission shall require a rail carrier to account for all amounts received under such proposed rate increase. Authorizes one or more rail carriers to enter into a contract with one or more purchasers of rail services to provide specified services under specified rates and conditions. Directs such contract to be filed with the Commission. Sets forth procedures by which: (1) the Commission shall review and approve such contract; and (2) a complaint may be filed by a shipper or other complainant. Directs the Commission to permit the establishment of tariffs under which rates may be raised or lowered, between established maximum and minimum levels, in response to expected or actual fluctuations in demand for rail service. Repeals provisions of such Act concerning incentives for capital investment by rail carriers. Permits a rail carrier to establish, by written declaration or agreement, limited liability rates for the transportation of property. Permits such declaration or agreement to provide for specified amounts to be deducted from any claim against the carrier. Directs that differences between rates, classifications, rules, and practices of rail carriers providing transportation subject to the jurisdiction of the Commission do not constitute a violation of this Act if such differences result from different services provided by rail carriers. Exempts specified surcharges and rates from the above provision. Directs the Commission to exempt a person, class of persons, or a transaction or service related to rail carrier transportation under specified circumstances. Sets forth procedures for the establishment and revocation of such exemptions. Prohibits the Commission from authorizing intermodal ownership that is otherwise prohibited by this Act. Grants the Commission exclusive and unrestricted authority to prescribe an intrastate rate for transportation provided by a rail carrier subject to the jurisdiction of the Commission. Prohibits a rail carrier, until December 31, 1981, from increasing any rate by more than ten percent, in addition to inflation, in any year. Exempts certain surcharges and rates from such prohibition. Authorizes the Commission, on a semiannual basis beginning in 1983, to prescribe a percentage rate increase or index for rail carriers in order to compensate for inflationary cost increases. Sets forth provisions by which each rail carrier shall notify the Commission of any rate from which such carrier intends to be excluded. Authorizes the Secretary of Transportation, on the basis of inspections of the track, physical facilities, and operations of a rail carrier, to notify the Commission that such carrier: (1) does not meet the safety requirements of applicable Federal statutes; and (2) is not maintained and operated in a manner which protects the health and safety of the public or of railroad employees. Authorizes the Commission to review the financial arrangements of such carrier and prohibit further financial transactions until the safety deficiencies of such carrier have been remedied. Directs the Commission to submit an annual report to Congress setting forth its findings concerning subsidiary rail carriers involved in specified financial transactions with their parent companies. Title III: Railroad Inter-Carrier Practices - Authorizes a rail carrier, for three years from the date of enactment of this Act, to apply to a joint rate a surcharge increasing or decreasing a through route charge. Sets forth a division of revenues for joint fares among the carriers involved. Sets forth other remedies available to carriers concerning the application of such surcharge. Requires only the carrier proposing a surcharge to defend such surcharge. Authorizes a carrier to publish surcharges applicable to traffic originating or terminating upon any of its lines of railroad under specified conditions. Sets forth criteria for the unilateral cancellation of a joint rate by a carrier. Directs a carrier applying such surcharge or canceling such joint rate to file a tariff with the Commission. Directs the Commission, upon request of participating rail carriers, to make available the variable costs of the carrier applying such surcharge or cancellation. Sets forth criteria for determining such variable costs. Directs the Commission, by January 1, 1984, to promulgate rules necessary to allow rail carriers to establish rates in the manner required by this Act. Directs the Commission, by January 1, 1983, if it is unable to promulgate such rules, to report to Congress its recommendations for appropriate legislative or administrative action. Prohibits, generally, an organization established or continued under a rate agreement (a "rate bureau") from permitting a carrier: (1) to discuss rates; (2) to participate in agreements related to rates; or (3) to vote on rates except with a carrier which forms part of a particular single route. Requires that, in a proceeding in which it is alleged that a carrier was a party to an agreement, conspiracy, or combination in violation of Federal or State law, the party making such allegation shall have the burden of proving the same by clear and convincing evidence. Directs the rate bureau involved to keep transcripts or sound recordings of all meetings. Requires that records of votes be made. Directs that such records and transcripts or recordings be submitted to the Commission and made available to other Federal agencies as needed. Exempts from the antitrust laws, agreements between rail carriers which solely provide for the compilation, publication, and distribution of rates in effect or which are to become effective. Directs the Commission to require rail carrier members of a rate bureau to provide certain employees of such bureau with fair employment arrangements no less protective of the interests of such employees than those established by the Interstate Commerce Act. Prohibits a carrier from charging or receiving more compensation for the transportation of property or passengers: (1) for a shorter distance than for a longer distance over the same line in the same direction; or (2) under a through rate than under the total of the intermediate rates it may charge, when the Commission determines that there is actual or potential competition between a rail and water service or route and anticompetitive behavior must be averted. Prohibits a rail carrier from blocking the construction or extension of a rail line by another carrier by refusing to permit that carrier to cross its property if: (1) the construction does not unreasonably interfere with the operation of the crossed line; (2) the operation does not materially interfere with the operation of the crossed line; and (3) the owner of the crossing line compensates the owner of the crossed line. Authorizes either party to a disputed matter to submit such matter to the Commission for determination. Authorizes the Commission to require rail carriers to enter into reciprocal switching agreements where it finds such agreements to be practicable and in the public interest. Directs the Commission to establish conditions and compensation applicable to such agreements if the carriers are unable to agree on same. Repeals the provision granting payments for the emergency use of freight cars. Directs the Commission to increase the rate of compensation for the use of such cars so as to attract capital investment in them. Authorizes a rail carrier or other entity to file with the Commission a request for negotiation as regards: (1) compensation for use by any rail carrier of rolling stock owned by any entity other than a carrier; or (2) the setting of demurrage rates. Sets forth procedures for such negotiations. Exempts such negotiations from the antitrust laws under specified conditions. Limits to 30 days the time during which the Commission is authorized to take action due to an emergency (equipment shortage, traffic congestion, etc.) in order to promote service in the interest of the public and of commerce. Authorizes the Commission to approve a consolidation, merger, or acquisition of control involving a rail carrier on application of the person seeking such action. Sets forth procedures and conditions of approval for such transactions. Exempts such transactions from the National Environmental Policy Act and the Energy Policy Conservation Act. Directs that, in authorizing any abandonment of a railroad line, a court shall require the rail carrier involved to provide employee protection at least as protective as that established under the Act. Title IV: Railroad Cost Determinations - Authorizes the Commission to prescribe a uniform accounting system for classes of carriers providing, and brokers for, transportation subject to the jurisdiction of the Commission. Establishes a Railroad Accounting Standards Board which shall be within and responsible to the legislative branch of the Federal Government. Sets forth: (1) the terms of office; (2) membership; (3) duties; and (4) expiration date of such Board. Directs the Commission to promulgate rules to enforce cost accounting standards established by the Board. Sets forth procedures for Commission certification of accounting systems used by rail carriers. Directs the Board to submit reports to Congress within two years of the date of enactment of this Act. Specifies penalties for violations of such cost accounting standards. Title V: Railroad Modernization and Restructuring Assistance - Directs the Secretary of Transportation to provide transitional financial assistance which facilitates: (1) restructuring of railroad facilities; (2) improved asset and manpower utilization; and (3) self-supporting shipper-operated or State-operated rail lines. Directs the Secretary annually to report to Congress listing the specific Federal assistance provided the railroad industry during that fiscal year. Directs the Commission, under specified circumstances, to require an abandoning carrier to sell its property at net liquidation value, as established by the Commission. Sets forth criteria under which such sale may occur. Amends the Railroad Revitalization and Regulatory Reform Act of 1976 to authorize the Secretary to provide financial assistance to any railroad or subsidiary of a railroad to pay the cost of restructuring its facilities, including related labor protection costs, and acquiring securities pursuant to a restructuring. Directs the Secretary to make such assistance available through repayable credits constituting a debt or equity financing. Directs the Secretary to provide such assistance by purchasing either a fixed debt obligation issued by a railroad or senior preferred stock. Prescribes terms and conditions for the purchase of such obligation or stock. Sets forth options to be used by the Secretary in the case of default. Directs a railroad or subsidiary which applies for such assistance to submit a restructuring plan to the Secretary. Directs the Secretary to establish regulations governing the content of such plan. Authorizes the appropriation, for fiscal years 1980 through 1984, of such sums as are necessary, not to exceed $1,475,000,000, to provide such assistance. Directs that no less than five percent of such sum shall be available for the purchase or rehabilitation of feeder lines. Extends to September 30, 1982, the authority for redeemable preference share financing. Makes conforming and technical amendments to the Railroad Revitalization and Regulatory Reform Act of 1976. Title VI: ConRail Title V Labor Protection - Amends the Regional Rail Reorganization Act of 1973 to grant, to protected employees, a monthly displacement allowance for any calendar month within the period identified in such Act in which the employee is deprived of employment or is adversely affected with respect to compensation. Sets forth provisions for payment of such allowance. Specifies the duration of the monthly displacement allowance. Sets forth provisions for training and transfer of employees. Permits ConRail to offer a vacant position to not more than four protected non-contract employees. Directs ConRail to give such position to the protected employee accepting transfer whom ConRail considers to be best qualified for the particular position involved. Directs ConRail, the United States Railway Association, replacement operators, and acquiring railroads, as the case may be, to pay the allowances, expenses, and costs provided protected employees under such Act. Directs the Railroad Retirement Board to reimburse ConRail, the Association, replacement operators, and acquiring railroads for such allowances, expenses, and costs up to an aggregate sum of $485,000,000. Limits the aggregate amount of such reimbursement to $180,000,000. Authorizes an annual appropriation of up to $485,000,000. Directs ConRail, the Association, replacement operators, and acquiring railroads to pay benefits otherwise reimbursable upon the exhaustion of such authorization. Authorizes appropriations for administrative expenses incurred by the Railroad Retirement Board and the Association. Directs the Association to: (1) audit the payment of benefits under such Act; and (2) report annually to Congress and the President. Sets forth technical amendments to the Regional Rail Reorganization Act of 1973. Title VII: Supplemental Transactions - Directs the Secretary to develop proposals, on an as needed basis, for further restructuring of rail properties through transactions supplemental to the final system plan. Sets forth the criteria to be used in developing such proposal. Directs the Association to analyze and comment to the Secretary on such proposal. Directs the Commission: (1) to comment to the Secretary on such proposal; (2) to afford interested parties the opportunity to comment; and (3) to approve such proposal within 120 days after receipt or it shall be deemed to have been approved. Directs the Secretary to determine whether to petition the Special Court for the approval of the proposal. Sets forth the action to be taken by such Court on such proposal. Redefines the term "fair and equitable" as used in this Act. Title VIII: Miscellaneous Provisions - Directs that this Act shall take effect on October 1, 1980, except as otherwise provided. Exempts applications for consolidation, merger, or acquisition of control involving a rail carrier which are filed with the Commission before January 1, 1981, from provisions of this Act.
United States · United States Congress · 24 April 1980
Amends the National Trails System Act to designate the Overmountain Victory National Historic Trail, extending from Kings Mountain National Military Park, South Carolina, to Elizabethton, Tennessee, with branches into Virginia and North Carolina, as a unit of the National Trails System.
United States · United States Congress · 1 April 1980
Uniform Product Liability Act - Provides that this Act preempts any other Federal or State law pertaining to matters governed by the Act. Permits reference to be made to other sources of law where this Act does not provide a rule of decision. Sets forth basic standards of responsibility for manufacturers and product sellers other than manufacturers. Subjects a product manufacturer to liability to a claimant who proves by a preponderance of the evidence that the claimant's harm was proximately caused by the product, if such product was unreasonably unsafe in construction or design, or because: (1) adequate warnings or instructions were not provided; or (2) it did not conform to the product seller's express warranty. Specifies the requisite findings which must be made for such proof or unreasonable unsafety to be determined. Subjects a product seller other than a manufacturer to liability to a claimant who proves by a preponderance of the evidence that the claimant's harm was proximately caused by such seller's failure to use reasonable care with respect to the product. Enumerates circumstances under which such a seller is also subject to the liability of a manufacturer. Provides that a product seller shall not be subject to liability for harm caused by an unavoidably dangerous aspect of a product, with specified exceptions. Provides that a product seller shall not be liable, where it proves that at the time of manufacture it was not within practical technological feasibility to make the product safer with respect to its design and its warnings or instructions, with specified exceptions. Sets forth rules relating to proof in product liability cases with respect to the following factors: (1) product design, warnings or instructions, practical technological feasibility, or industry custom; and (2) government standards and mandatory contract specifications. Sets forth provisions governing the length of time product sellers are subject to liability. Provides for a two-year statute of limitation and a ten-year statute of repose. Provides that all claims under this Act shall be governed by the principles of comparative responsibility. Sets forth rules with respect to conduct affecting comparative responsibility, including: (1) failure to discover a defective condition; (2) use of a product with a known defective condition; (3) misuse of a product; and (4) alteration or modification of a product. Specifies the manner in which damages are to be apportioned. Requires that damages in any product liability claim be reduced by any amount paid as workers compensation benefits. Allows punitive damages to be awarded if the claimant proves by clear and convincing evidence that the harm suffered was the result of the product seller's reckless disregard for the safety of product users, consumers, or others who might be harmed by the product.
United States · United States Congress · 1 April 1980
Proclaims October 19, 1981, a national day of celebration as the two hundredth anniversary of the victory of General George Washington at Yorktown, Virginia.
United States · United States Congress · 19 March 1980
Amends rule XIII and rule XI of the Rules of the House of Representatives to establish a special calendar to be known as the Budget Calendar, to which shall be referred all bills and joint resolutions of a public character which are reported from committees and which, if considered immediately, would be in violation of the Congressional Budget Act of 1974. Requires such calendar to set forth: (1) the number and title of such bill or joint resolution, and the date or dates on which it was reported from committee and referred to the appropriate calendar; (2) the particular provisions or requirements of the Congressional Budget Act of 1974 which such bill or joint resolution violates; (3) the number of the resolution containing such waiver and the number of the accompanying report, if a waiver of any provision or requirement of the Congressional Budget Act of 1974 has been reported by the Committee on Rules; and (4) a tabulation of the progress of congressional action on bills and resolutions providing new budget authority or changing revenues or the public debt limit for a fiscal year. Stipulates that such tabulation shall be based on a determination of estimates of budget outlays and revenues made by the Committee on the Budget and the most recent periodic report provided by the Director of the Congressional Budget Office. Requires the Committee on Rules, whenever it reports a resolution waiving one or more provisions or requirements of the Congressional Budget Act of 1974, to include in its report or in an accompanying statement a brief explanation as to why such waiver is necessary.
United States · United States Congress · 19 March 1980
Expresses the sense of the Congress that U.S. foreign policy should reflect a national strategy of peace through strength with specified principles and goals.
United States · United States Congress · 17 March 1980
Amends the Trade Expansion Act of 1962 to prohibit the President from taking action, pursuant to the President's authority to adjust the imports of articles which threaten national security, to impose import fees on petroleum and petroleum products imported into the United States without specific authorization from Congress, effective March 1, 1980.
United States · United States Congress · 17 March 1980
Amends the Securities Investor Protection Act to increase from $100,000 to $500,000 the maximum amount which the Securities Investor Protection Corporation may distribute to a customer in the liquidation of a broker-dealer. Permits up to $100,000 of such amount (presently, $40,000) to be used to satisfy a claim for cash.
United States · United States Congress · 6 March 1980
Small Business Investment Incentive Act of 1980 - Title I: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to include within the private offering exemption from full registration any transaction involving securities bearing a legend stating that such securities may not be sold or transferred except to accredited investors provided all purchasers of such securities are accredited investors or persons the issuer reasonably believes to be accredited investors and there is no general advertising or solicitation in connection with the transaction. Defines the term "accredited investor" to include banks, insurance companies, registered investment companies, licensed small business investment companies, venture capital companies, any fund, trust, or account administered by a bank or insurance company, and any purchaser of $100,000 or more of the issuer's securities. Exempts from registration, as a transaction not involving an underwriter, any resale of: (1) securities bearing such a restrictive legend sold to accredited investors or persons reasonably believed to be accredited investors; and (2) securities acquired in a private offering by a venture capital company which is an affiliate of the issuer and which has been the beneficial owner of such securities for at least five years. Empowers the Securities and Exchange Commission to limit the availability of such exemption for venture capital companies. Title II: Amendments to the Investment Company Act of 1940 and the Investment Advisers Act of 1940 - Amends the Investment Company Act of 1940 to define a "venture capital company" to include companies which: (1) primarily engage in activities such as providing capital to industry, financing promotional enterprises, purchasing securities for which no ready market exists, or reorganizing companies; and (2) have at least 80 percent of their assets (excluding Government securities, short-term paper, and cash) in securities obtained in connection with a private offering, resale of restricted securities, or corporate reorganization. Exempts from regulation as an investment company, any venture capital company which has operated as such for at least three years and which: (1) is a reporting company under the Securities Exchange Act of 1934; (2) has outstanding securities beneficially owned by more than 100 persons, but only for a period of 180 days; or (3) presently proposes to make a public offering of its securities for 180 days after filing its registration statement and 60 days following its effective date or withdrawal, whichever last occurs. Requires such venture capital companies to have disinterested directors or voting partnership advisers in order to qualify for the exemption provided by this title. Requires such companies to dispose of their securities only in the manner permitted under the Securities Act of 1933 for securities acquired in a private offering. Places restrictions on dealings between the insiders of a venture capital company and the businesses in which it invests. Permits a venture capital company to register as an investment company, though it would be entitled to an exemption under this Act, provided it is not a personal holding company as defined in the Internal Revenue Code of 1954. Amends the Investment Advisers Act of 1940 to exclude shareholders, partners, and owners of venture capital companies from the clients of an investment adviser in determining the adviser's entitlement to an exemption from registration for having fewer than 15 clients. Establishes a private right of action for damages or injunctive relief for persons injured by a willfull violation of the Investment Advisers Act of 1940 or the regulations promulgated thereunder. Title III: Effective Date and Miscellaneous Provisions - States that this Act shall take effect upon its enactment. Directs the Securities and Exchange Commission to promulgate regulations to implement this Act within 180 days of its enactment.
United States · United States Congress · 6 March 1980
Small Business Development Act of 1980 - Title I: Small Business Innovation - Amends the Small Business Act to require the head of each Federal agency which obligates over $100,000,000 for research and development in a fiscal year to: (1) expend at least one percent of the amount spent on research and development during the next year for a small business innovation program; (2) solicit research and development proposals from small businesses during the next year; and (3) promote the use of small businesses to conduct research and development. Requires the head of each Federal agency to increase the amount of funds obligated for the conduct of research and development by small businesses by one percent each year until the amount obligated to small businesses in a fiscal year equals at least ten percent of the total amount obligated by such agency for research and development. States that it is an objective of this Act to amend existing patent procedures in order to promote the marketing of inventions developed under federally supported research and development projects by nonprofit organizations and small business firms. Permits any such organization or firm to elect, within a reasonable amount of time, to retain title to such inventions. Permits Federal agencies which have supported such projects to retain title to inventions through their funding agreements in specified circumstances, including when necessary to conduct foreign intelligence or counterintelligence activities. Requires review of agency determinations that such circumstances exist by the Comptroller General and the Chief Counsel for Advocacy of the Small Business Administration. Directs the Comptroller General to report to Congress on the implementation of this Act by Federal agencies. Enumerates provisions which must be included in funding agreements between a Federal agency and a small business firm or nonprofit organization, including provisions: (1) to insure the rights of the Federal Government under this Act; (2) to provide that the agency shall have a nonexclusive, nontransferable, irrevocable and paid-up license to use the invention; (3) to prohibit a nonprofit organization from assigning rights to the invention without the approval of the Federal agency; (4) to prohibit such an organization, other than small business firms, from granting exclusive rights from the earlier of five years from the first commercial use of the invention or eight years from the date of invention; and (5) to require such organizations to use their royalties and earnings to support scientific research or education. Provides that the first commercial use with respect to a product of the invention shall not end the exclusive period to different subsequent products covered by the invention. Requires the head of a Federal agency to approve provisions of a funding agreement which require the licensing to third parties of inventions owned by the contractor. Sets forth terms and conditions under which such approval may be granted. Authorizes a Federal agency to transfer or assign its rights, acquired from an agency employee as coinventor, to an inventor electing to acquire title to an invention. Empowers any Federal agency to require inventors or their assignees to grant licenses in order to: (1) achieve practical applications of the invention in its field of uses; (2) alleviate health or safety needs; (3) meet requirements for public use specified by Federal regulations; or (4) achieve participation by United States industry in the manufacturing of an invention. Entitles the government to 15 percent of all net income in excess of $70,000 gross income received by a contractor after a patent application is filed on a subject invention. Provides that if a contractor receives a gross income of $1,000,000, the government shall be entitled to a share of the excess of $1,000,000 that shall be negotiated but not to exceed five percent of such excess. Limits the government share of any excesses to its contributions under the funding agreement. Requires the Director of the Office of Federal Procurement Policy to revise the government entitlements in light of changes to the Consumer Price Index or other indices at least every three years. Declares such government entitlements applicable to subject inventions upon which United States patents are granted and in effect. Restricts the assignment and licensing of rights by patent holders to foreign-owned or controlled firms unless such persons agree that any products embodying the subject invention or produced through the use of the subject invention will be manufactured substantially in the United States where commercially feasible. Authorizes Federal agencies to withhold information on inventions from public disclosure. Specifies the authority of Federal agencies with respect to obtaining patents, granting licenses, and transferring custody of patents. Authorizes the Administrator of General Services to promulgate regulations specifying the terms upon which any federally-owned invention may be licensed. Sets forth the procedure whereby Federal agencies may grant exclusive or partially exclusive licenses in any invention covered by a federally-owned domestic patent or patent application. Prohibits licensing which lessens competition. Directs that business firms be given preference in exclusive or partially exclusive licensing. Enumerates provisions which must be contained in any grant of a license by a Federal agency. Declares that this Act shall take precedence over any other Act in the disposition of inventions. Title II: Depreciation Acceleration; Repeal of Used Property Limitation in Investment Tax Credit; Corporate Income Tax Rate Reductions - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Allows a ten percent investment tax credit for buildings and tangible property, and a six percent credit for automobiles, taxis, and light duty trucks. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year. Repeals the $100,000 limitation on the amount of used property which is eligible for an investment tax credit. Reduces the tax rates applicable to corporate income. Repeal the carryover basis provisions enacted by the Tax Reform Act of 1976 which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property"s basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent. Title III: Tax Incentives for Small Business Capital Formation - Provides for the nonrecognition of gain on the sale or exchange of an equity interest in a small business which is reinvested in another small business within two years. Defines a "small business" as any business entity in which the aggregate equity interests do not exceed $25,000,000. Allows a tax credit for proceeds received from small business debentures which have a fixed maturity and grant no conversion or voting rights. Limits the amount of such credit to $5,000 ($10,000 in the case of a joint return). Disallows such credit if the issuing small business has $1,000,000 of such debentures outstanding or has a class of securities subject to regulation of the Securities and Exchange Commission. Treats amounts paid on such debentures which represent a share of the issuer's earnings as long-term capital gain. Treats losses on such debentures as an ordinary loss. Requires distributions on such debentures, which represent either interest or a share of earnings, to be treated as interest. Title IV: Small Business Equal Access to Justice - Amends title II of the Small Business Act (Study of Small Business) to direct the Office of Advocacy within the Small Business Administration to assist the Attorney General, Federal agencies, and the Chairman of the Administrative Conference of the United States to facilitate relief afforded to small businesses under such Act. Requires the Chief Counsel for Advocacy to submit biennial reports to the President and Congress on awards made to small businesses under such Act. Excludes from the definition of "party" for purposes of this title: (1) an individual whose net worth exceeds $1,000,000; and (2) any partnership, corporation, association, organization, or sole owner of an unincorporated business whose net worth exceeds $5,000,000, but includes an agricultural cooperative, as defined in the Agricultural Marketing Act, regardless of its net worth. Entitles a prevailing party (other than the United States) to be awarded fees and other expenses, including attorney fees, which were incurred by such party in: (1) an administrative adjudication (excluding ratemaking and license application hearings, but including such actions as suspension or modification of a license); or (2) in any civil action, other than a tort, brought by or against the United States, unless the agency conducting such adjudication, or the court having jurisdiction of such action, finds that the position of the agency or the United States was substantially justified or that special circumstances make an award unjust. Allows the agency or the court to reduce any such award to the extent that the prevailing party unduly and unreasonably protracted the final resolution of the matter in controversy. Stipulates that such awards in administrative adjudication shall be paid by the particular agency over which the party prevails, but prohibits authorization of appropriations to such agency for the specific purpose of such payments. Authorizes a party dissatisfied with such award in an administrative adjudication to petition for leave to appeal the decision in an appropriate Federal court. Authorizes a court to award reasonable attorney fees to the prevailing party in any civil action brought by or against the United States or any agency, including the Post Office, or official of the United States acting in an official capacity, where the court may award such fees in such suits involving private parties (thus applying to Government litigation the common law and statutory exceptions to the "American rule" which requires parties to be responsible for their own attorney fees). Directs the Administrative Conference and the Administrative Office of the United States Courts to report annually on the amount of fees and expenses awarded during the preceding fiscal year in such agency adjudications and civil actions. Makes this title applicable to any civil action pending on, or commencing after, the date of enactment, except for civil tax actions, which shall be subject to this title six months after enactment. Directs the Office of the Chairman of the Administrative Conference and Director of the Administrative Office of the United States Courts to provide to the Small Business Office of Advocacy the information required to be collected in this title. Title V: Small Business Regulatory Flexibility - Amends the Small Business Act to require each Federal agency to publish semiannually an agenda of those rules which may be proposed during the upcoming six-month period affecting a substantial number of small businesses and small organizations. Permits Federal agencies to modify the definition of "small business", if appropriate, after notice and opportunity for hearing. Defines "small organizations" to include unincorporated businesses, sheltered workshops enterprises which are not dominant in their fields, and such other groups and enterprises as each Federal agency shall establish by rule, not in conflict with the definition of "small business." Requires each published agenda to be transmitted to the office of Advocacy of the Small Business Administration for comments. Directs each Federal agency to endeavor to provide notice of each agenda to affected small enterprises by means other than publication in the Federal Register. Directs each Federal agency to publish a written analysis prior to the issuance of any proposed rule affecting a substantial number of small businesses and organizations which considers: (1) the effect of such rule on small enterprises and competition; (2) whether an exemption could be provided such small enterprises; (3) whether lesser compliance standards could be adopted for small enterprises; and (4) the expected nature of reporting recordkeeping requirements necessitated by such rule. Requires each Federal agency to issue a rule containing an exemption or differing compliance standard for such small business concerns and organizations if it is lawful, desirable, and feasible to do so. States that such small enterprises shall be given an opportunity to participate in agency rulemaking, which substantially affects such enterprises, unless otherwise provided. Requires each agency to review its existing rules and prepare an analysis for purposes of eliminating or modifying those rules which are most burdensome to small businesses and organizations. Permits any agency to perform the analyses required by this title in conjunction with any other analysis required by law. Declares that such other analysis shall not in itself satisfy the requirements of this title. Title VI: Sunset Provisions - Requires the Congressional Budget Office in conjunction with the congressional committees having jurisdiction over each Government program, within one year after enactment of this Act, to set forth a timely review of all Government programs. Terminates any program which has not been reviewed within three years after enactment of this Act unless both Houses of Congress vote to continue such programs pending completion of a review. Requires that each review: (1) identify the need for the program; (2) identify conflicting or duplicative programs; (3) assess the program's effectiveness and cost; and (4) assess the impact of the program on the national economy.
United States · United States Congress · 5 March 1980
Expresses the sense of the House of Representatives that the first concurrent resolution on the budget for fiscal year 1981 reported by the Committee on the Budget shall limit budget outlays to 21 percent of the gross national product.
United States · United States Congress · 4 March 1980
Expresses the sense of the House of Representatives that illegal aliens should be excluded from the total population of States as determined in the decennial census for the purpose of apportioning Representatives in Congress among the States.
United States · United States Congress · 3 March 1980
Amends the Code of Official Conduct of the House of Representatives to direct that upon commencement of a criminal case against a Member, such Member shall refrain from participation in his committee meetings or votings in the House, until such charges result in dismissal or termination with the Member being found innocent.
United States · United States Congress · 25 February 1980
Federal Trade Commission Improvements Act of 1980 - Amends the Federal Trade Commission Act to terminate the authority of the Commission to issue an order requiring a person, partnership, or corporation to cease and desist from using an unfair method of competition. Authorizes the Commission to institute a civil action in any appropriate district court of the United States to request that the court enter such a cease and desist order. Directs the court to enter such order as it deems appropriate if it finds that the method of competition in question is prohibited by such Act and that enjoining the method serves the public interest.
United States · United States Congress · 25 February 1980
Amends rule X of the Rules of the House of Representatives to establish a standing Committee on Energy to investigate and report on: (1) national energy policy generally; (2) interstate and foreign commerce relating to energy resources; (3) measures relating to the exploration, development, production, storage, supply, marketing, pricing, and regulation of energy resources; (4) measures relating to the conservation of energy resources; (5) regulation of the domestic nuclear energy industry; (6) energy research, development, and demonstrations; (7) all federally owned or operated nonmilitary energy laboratories; (8) measures relating to energy information generally; (9) measures relating to the reliability, generation, interstate transmission, marketing of, and rate-making for, all power; (10) interstate energy compacts; (11) tariffs, quotas, and other fees or limitations on the importation of energy resources; and (12) measures relating to the management of the Department of Energy, and the management and all functions of the Federal Energy Regulatory Commission. Specifies that such committee shall not have jurisdiction over the following: (1) military applications of nuclear energy; (2) nonproliferation of nuclear technology and nuclear hardware; and (3) any matter relating to irrigation or reclamation in connection with federally chartered or Federal regional power marketing authorities.
United States · United States Congress · 22 February 1980
Small Business Issuers' Simplification Act of 1980 - Amends the Securities Act of 1933 to allow small issuers to make offerings of their securities to accredited investors without filing a registration statement, provided there is no advertising or public solicitation in connection with the transaction. Permits an accredited investor who acquires securities in such a transaction to resell such securities to other accredited investors without filing a registration statement under the exemption for transactions not involving an underwriter. Defines the term "accredited investor" to include specified institutional investors and any person purchasing at least $100,000 of securities in such an offering by a small issuer. Requires a small issuer to meet two of the three following criteria in order to qualify for the exemption provided by this Act: (1) assets at the end of its fiscal year of less than $15,000,000; (2) gross revenues in each of its last two fiscal years of less than $30,000,000; and (3) no more than 500 shareholders of any class of its securities. Empowers the Securities and Exchange Commission to revise the definitions and criteria established by this Act.
United States · United States Congress · 7 February 1980
Amends the Clean Air Act to repeal the requirement that State implementation plans for meeting the national primary ambient air quality standard provide for periodic inspection and testing of motor vehicles.
United States · United States Congress · 5 February 1980
Small Business Equal Access to Justice Act - Title I: Small Business Administration Office of Advocacy - Amends title II of the Small Business Investment Act (Study of Small Business) to direct the Office of Advocacy within the Small Business Administration to assist the Attorney General, Federal agencies, and the Chairman of the Administrative Conference to facilitate relief afforded to small businesses under such Act. Requires the Chief Counsel for Advocacy to submit biennial reports to the President and Congress on awards made to small businesses under such Act. Title II: Small Business Equal Access to Justice - Excludes from the definition of "party" for purposes of this Act: (1) an individual whose net worth exceeds $1,000,000; and (2) any partnership, corporation, association, organization, or sole owner of an unincorporated business whose net worth exceeds $5,000,000, but includes an agricultural cooperative, as defined in the Agricultural Marketing Act, regardless of its net worth. Entitles a prevailing party (other than the United States) to be awarded fees and other expenses, including attorney fees, which were incurred by such party in: (1) an administrative adjudication (excluding ratemaking and license application hearings, but including such actions as suspension or modification of a license); or (2) in any civil action, other than a tort, brought by or against the United States, unless the agency conducting such adjudication, or the court having jurisdiction of such action, finds that the position of the agency or the United States was substantially justified or that special circumstances make an award unjust. Allows the agency or the court to reduce any such award to the extent that the prevailing party unduly and unreasonably protracted the final resolution of the matter in controversy. Stipulates that such awards in administrative adjudication shall be paid by the particular agency over which the party prevails, but prohibits authorization of appropriations to such agency for the specific purpose of such payments. Authorizes a party dissatisfied with such award in an administrative adjudication to petition for leave to appeal the decision in an appropriate Federal court. Authorizes a court to award reasonable attorney fees to the prevailing party in any civil action brought by or against the United States or any agency, including the Post Office, or official of the United States acting in an official capacity, where the court may award such fees in such suits involving private parties (thus applying to Government litigation the common law and statutory exceptions to the "American rule" which requires parties to be responsible for their own attorney fees). Directs the Administrative Conference of the United States and the Administrative Office of the United States Courts to report annually on the amount of fees and expenses awarded during the preceding fiscal year in such agency adjudications and civil actions. Makes this Act applicable to any civil action pending on, or commencing after, the date of enactment, except for civil tax actions, which shall be subject to this Act six months after enactment. Directs the Office of the Chairman of the Administrative Conference of the United States and Director of the Administrative Office of the United States Courts to provide to the Small Business Office of Advocacy the information required to be collected in title I of this Act.
United States · United States Congress · 4 February 1980
Medical Expense Protection Act - Title I: Catastrophic Automatic Protection Plan - Adds a new title to the Social Security Act, Title XXI - Catastrophic Automatic Protection Plan. Establishes a voluntary insurance plan to provide automatic protection to families against catastrophic medical expenses, the Catastrophic Automatic Protection Plan (CAPP), to be funded by general revenues and coinsurance amounts. Provides that a family will be eligible for CAPP assistance for CAPP covered expenses after members of the family incur medical expenses equal to the deductible. Stipulates that eligibility is contingent upon the payment of specified coinsurance amounts. Provides that the deductible and coinsurance amounts shall be equal to approximately 10 to 20 percent of family income, graduated according to income. Provides that there shall be no coinsurance payments after a family has incurred expenses equal to the "CAPP stop-loss". Provides that the CAPP stop-loss for any year shall be equal to approximately 10 to 25 percent of family income, again graduated according to income. Sets forth provisions relating to applications for assistance under this Act. Requires any family filing for assistance under this Act to file an income statement with the Secretary of Health and Human Services. Permits civil penalties to be imposed for submission of an intentionally false statement. Provides that payments shall be made for 100 percent of covered CAPP medical expenses and services except that in the case of prescription drugs for chronic illness the payment rate shall be 75 percent. Provides that there shall be no coinsurance for such drugs. Provides that payments with respect to CAPP covered services which are described in title XVIII (Medicare) of the Act shall be made to providers, with specified exceptions, in the amount and in accordance with the procedures set forth in such title. Establishes the Catastrophic Automatic Protection Plan Trust Fund in the United States Treasury. Appropriates to the fund, out of any moneys in the Treasury not otherwise appropriated, amounts necessary to make CAPP payments. Creates a Board of Trustees to hold the Fund, report to Congress concerning the Fund, and review policies allowed in managing the Fund. Directs the Secretary to provide for a listing of drug entities which may be legally introduced into interstate commerce with specified therapeutic categories. Provides that any individual dissatisfied with any determination relating to the individual's eligibility for or amount of CAPP benefits shall be entitled to a hearing concerning such determination and to judicial review of the Secretary's final decision. Sets forth definitions of terms used in this Act, including "CAPP covered services" which is defined as services furnished to an individual to the extent payment for such service may be made under the Medicare program, except that under CAPP: (1) inpatient psychiatric services shall be covered for 45 days in a calendar year; (2) items and services related to pregnancy, delivery, and care of a child through the first year are covered; (3) immunizations against serious communicable diseases are covered; and (4) prescription drugs for "chronic illness" are covered for an individual entitled to hospital insurance benefits under Medicare. Directs the Secretary to provide for an evaluation, by an entity outside the Department of Health and Human Services, of the implementation of this Act during its first five years and to report to Congress on the evaluation. Title II: Employer Health Plans - Amends the Internal Revenue Code to exclude from gross income, subject to stated conditions, amounts received by an employee through an accident or health plan towards which the employer contributed, only if the plan is a qualified plan. Subjects such exclusion to certain conditions, including: (1) the employer must make a contribution equal to at least 50 percent of the premium for the least expensive qualified plan; (2) requiring the employer to pay the employee a monthly rebate if the employee is offered more than one qualified plan and the employer contribution for the plan the employee selects would be greater than the premium of a low option plan, or the employee elects to participate in no qualified plan and is otherwise covered by a qualified plan; and (3) that the employer contribution for any employee for a family plan shall not exceed $120 per month. Defines terms including, among others, "qualified health plan." Defines such plan as a plan of an employer providing medical care for employees and their families which the Secretary certifies as meeting certain requirements, including the provision of CAPP covered services after the employee has incurred out-of-pocket expenses in excess of $2,500. Prohibits an income tax deduction for contributions by an employer to a health plan for compensation to his or her employees for sickness, unless the employer offers a qualified plan. Limits the income tax deduction for medical and dental expenses to an individual: (1) who is blind or disabled as determined under title XVI (Supplemental Security Income) of the Act or is receiving Medicare benefits because of end-stage renal disease; or (2) for care while a resident of a long-term care facility or of an institution for the care, rehabilitation or training of the physically or mentally handicapped. Provides for a deduction, not to exceed $250, for one-half of the premiums for a qualified health plan. Title III: Medicare Amendments - Amends title XVIII (Medicare) of the Social Security Act to remove the time limitation on inpatient hospital care. Makes individuals entitled to benefits under part A (Hospital Insurance) of title XVIII of the Act eligible for certain benefits under CAPP. Eliminates coinsurance under part A. Provides that any charge for any service or procedure performed by a doctor shall be reasonable if: (1) the service or procedure is performed in a designated physician shortage area; (2) the physician has a regular practice in the shortage area; (3) the charge does not exceed the prevailing charge level as otherwise determined; and (4) the charge does not exceed the amount generally charged by such physician for similar services. Permits entities utilized for administering the Medicare program to be utilized for administering CAPP. Title IV: Studies and Miscellaneous Provisions - Directs the Secretary: (1) to provide for studies of, and demonstration projects with respect to, the desirability and feasibility of adding a long-term care program into the Medicare program or CAPP and to report to Congress the results of the studies and projects; (2) to conduct a study of the feasibility of, and options with respect to, consolidating title XIX (Medicaid) of the Act into CAPP or other programs and to report to Congress concerning such study; and (3) to conduct a study of the feasibility of promoting better efficiency and effectiveness in the Medicare and Medicaid programs by permitting those eligible under such programs the option of receiving benefits through competitive private plans to report to Congress concerning such study. Requires the Secretary to reduce Medicaid payments to a State if the State reduces the number of categories of individuals eligible for benefits or the amount of benefits provided under: (1) title V (Maternal and Child Health), XIX, or XX (Grants to States for Services) of the Act; or (2) any program providing benefits similar to those under title XXI, and such reduction results in an increase in the amount of payments that would otherwise be made under such title. Amends the Federal Trade Commission Act to consider it an unfair trade practice for any entity to advertise that any amounts paid to an individual represents reimbursement for the deductible under CAPP.
United States · United States Congress · 28 January 1980
Fusion Energy Research, Development, and Demonstration Act of 1980 - Directs the Secretary of Energy to establish research, development, and demonstration programs involving magnetic fusion energy systems to: (1) construct and operate a fusion engineering test facility by 1986; (2) construct and operate a magnetic fusion demonstration facility before the end of this century; (3) maintain and expand the base programs for fusion energy research and the development and testing of appropriate alternative confinement technologies; (4) maintain a strong research and development program in advanced fusion fuels; and (5) ensure an uninterrupted source of scientific and engineering talent from institutions of higher learning to support such effort. Requires such programs to include a study of the potential of using fusion energy for the production of synthetic fuels and the electrification of ground transportation systems. Directs the Secretary to disseminate information promoting the practical uses of fusion energy.
United States · United States Congress · 27 December 1979
Grants the Court of Claims jurisdiction over claims against the United States for certain losses sustained by producers, processors, manufacturers, distributors, dealers, or other persons resulting from the ban on apparel, fabric, yarn, or fiber containing Tris phosphate. Directs such court to consider certain factors in determining the validity of such claims. Prohibits the inclusion of lost profits, proceeds from the distress sales, attorney's fees, or interest on any such loss in determining the amount of losses for which such claims are brought. Sets forth the measure of losses for specified types of claimants.
United States · United States Congress · 20 December 1979
Amends the Communications Act of 1934 to prohibit the Federal Communications Commission, in considering an application for the renewal of a broadcasting station license, from taking into account the following: (1) any ownership interest which is held by the renewal applicant involved in any other broadcasting station or in any nonbroadcasting communications medium; or (2) any participation by such renewal applicant in the day-to-day administration and operation of the broadcasting station involved. Prohibits the Commission from granting any commercial broadcasting station license to any applicant if: (1) such applicant, at the time such application is made, owns, controls, or operates any daily newspaper; and (2) the station signal of the broadcasting station for which such license is sought will encompass the entire community in which such daily newspaper is published. Prohibits the Commission from renewing any commercial broadcasting station license for a term which is due to end after June 1, 1980, if the licensee involved: (1) owns, controls, or operates the only amplitude modulation radio broadcasting station which encompasses the entire community involved with a city-grade signal during daytime hours, or the only television broadcasting station the grade A contour of which encompasses the entire community involved; (2) owns, controls, or operates the only daily newspaper which is published in such community; and (3) owned, controlled, or operated such station and such newspaper as of January 1, 1975. Stipulates that such restrictions shall not apply to a radio broadcasting station licensee if: (1) a television broadcasting station is licensed to serve the community which is served by the radio station involved; (2) such television broadcasting station is not owned, controlled, or operated by such radio broadcasting station licensee; and (3) the licensee involved demonstrates to the Commission that compliance with such requirements by such licensee is not necessary to serve the public interest, convenience, or necessity. Permits any licensee who, on the effective date of this Act, owns, controls, or operates a daily newspaper and is the licensee of a commercial broadcasting station which has a station signal which encompasses the entire community in which such newspaper is published, to apply for renewal of such license and not be required to relinquish ownership or control of such broadcasting station or such newspaper. Prohibits any licensee from transferring, assigning, or otherwise disposing of the commercial broadcasting station license held by such licensee and the ownership of, or any interest in, the daily newspaper to the same person, except in specified conditions.
United States · United States Congress · 14 December 1979
Product Liability Risk Retention Act of 1979 - Title I: Risk Retention Groups - Directs the Secretary of Commerce to promulgate standards for the approval of risk retention groups. Defines such groups as corporations, or other limited liability associations taxable as corporations, whose principal activity consists of assuming and spreading all or any portion of the product liability or completed operations liability risk exposure of its group participants and which are organized, under the laws of a State, for the primary purpose of conducting such activity. Sets forth factors to be included in a group's application for approval. Enumerates Standards which the Secretary must consider in approving any such group, including the amount and liquidity of its assets, soundness of its reserves, adequacy of the expertise and experience of those responsible for its management, adequacy of its loss prevention programs and those of its group participants, and failure to disclose material facts of circumstances bearing on its qualifications. Sets forth limitations on the risk coverage afforded to any one person in the group. Authorizes the Secretary to waive such limitations upon determination that the group is likely to be financially sound and capable of shifting and distributing the risks of its group participants. Directs the Secretary to issue certificates of approval to applicant groups upon determination that such groups have sound plans of operation in accordance with standards promulgated by the Secretary. Requires any refusal of approval to specify the factual conclusions and legal authority upon which it is based. Authorizes the Secretary to conduct audits of the applicant and its group participants. Authorizes the Secretary to require a group to set a maximum amount of risk which it will accept. Requires such a group's participants to obtain insurance for losses in excess of such maximum limitations. Establishes requirements for the terms of such insurance coverage. Requires all or a portion of an individual's product liability or completed operations risk exposure be assumed by the group. Prohibits a group from assuming liability for any person other than its members or its members' affiliates. Permits a group to assume liability which arises from an agreement of hold harmless or indemnity between a member and its supplier, purchaser, or consignee. Prohibits a group from making non-pro-rata assessments or retroactive adjustments based on the loss experience of a member. Sets forth requirements concerning the return of a withdrawing member's capital contribution. Prohibits such groups from acquiring reinsurance from its members or affiliates. Directs the Secretary to requires each group to maintain reserves: (1) to meet incurred losses and loss adjustment expenses; and (2) for unearned premiums paid or to be paid to the group by its group participants. Requires that such reserves be invested prudently. Requires each group to submit information on plan changes and annual reports to the Secretary. Directs the Secretary to ensure that other required reports do not constitute as undue burden upon groups. Declares that this Act shall preempt any State law relating to the formation operation, or provision of insurance-services to risk retention groups. Stipulates that this Act shall not effect the authority of a State to tax risk retention groups. Directs the Secretary to promulgate regulations relating to claims settlement practices of such groups and to consumer protection taking into consideration State laws on such matters. Applies Federal antitrust laws to such groups. Exempts the ownership interests of such groups from the securities laws. Limits the use of information obtained pursuant to this Act. Permits the Secretary to require data concerning the product liability claims experience of such groups. Authorizes the Secretary to audit each group and to require each group to engage an independent accountant to examine its books, records, and financial statements. Requires each group to pay an application fee and annual fees to cover supervisory expenses of the Secretary. Authorizes the Secretary to revoke the certificate of approval of a risk retention group. Enumerates circumstances in which such authority may be exercised. Requires that all hearings to revoke a group's certificate of approval be held in the District of Columbia. Empowers the United States District Court for the District of Columbia to hear appeals from orders of the Secretary issued pursuant to this Act. Title II: Group Purchase of Product Liability Insurance and Completed Operations Insurance - Exempts any group seeking to purchase liability insurance, its members, or any person who provides such insurance from any State law which restricts groups insurance or would prohibit or discriminate against the application of this Act. Title III: Miscellaneous Provisions - Declares that this Act shall not be deemed to affect State tort law. Directs the Secretary to issue rules and regulations and to take all other actions necessary or appropriate to implement this Act. Directs the Secretary to report to the appropriate committees of Congress on the implementation of this Act.
United States · United States Congress · 13 December 1979
Telecommunication Act of 1979 - Amends the Communications Act of 1934 to declare that it is the purpose of such Act to: (1) assure that all the people of the Nation have available, at reasonable and affordable rates, domestic telecommunications services and facilities; and (2) assure that the people, economy, and general welfare of the Nation will benefit from continuing improvements in telecommunications technology. Declares that the Federal Communications Commission shall exercise regulatory authority to the extent necessary to carry out the purposes of this Act. Allows the Commission to take any action as may be necessary to assure that the costs of the competitive activities of carriers are not borne by the users of noncompetitive services or facilities of such carriers. Defines, for the purposes of this Act, the term "interexchange telecommunications service" as the provision of telecommunications service between local exchange areas, including the local distribution of interexchange telecommunications by means other than intraexchange telecommunications facilities. Defines the term "intraexchange telecommunications service" as the provision of telecommuncations service between points within a single local exchange area. Authorizes the Commission to: (1) carry out the provisions of this title with respect to any carrier which furnishes telecommunications services or makes available telecommunications facilities, or both, between local exchange area; (2) establish and administer rules and regulations applicable to the interconnection of the facilities of interexchange telecommunications services through interconnnection with the facilities of intraexchange carriers; (4) review, approve, disapprove, or modify request for the pooling of revenues by interexchange carriers and intraexchange carriers; and (5) administer the National Telecommunications Pool, upon the termination of the transitional joint board established by this Act. Requires the State communications commission of each State, not later than one year after the date of enactment of this Act, to establish boundaries for local exchange areas in such State. Declares that, subject to the authority of the Federal Communications Commission, the State shall exercise exclusive regulatory authority with respect to any telecommunications service to the extent such service originates and terminates in any such local exchange area. Declares that no interexchange carrier, other than any carrier classified as a dominant carrier by the Commission, shall be subject to any regulatory authority of the Commission, except that the Commission shall: (1) have authority to require the payment of an intraexchange access fee by any interexchange carrier for interconnection with the facilities of any intraexchange carrier; (2) have authority to establish standards to promote the national defense and security and the emergency preparedness of the Nation; and (3) require, and provide for the regulation of basic telecommunications service so that such service is available at reasonable and affordable rates. Requires the Commission, in accordance with the provisions set forth in this Act, to classify interexchange carriers according to whether each such carrier is a dominant carrier. Declares that a dominant carrier shall not be subject to any regulatory authority of the Commission in connection with the offering of any telecommunications service (other than basic telecommunications service) in a particular market or submarket if such dominant carrier: (1) establishes a fully separated subsidiary, in accordance with the Act, to offer such service in such market or submarket; and (2) utilizes a cost accounting system designated to ensure that the costs of such fully separated subsidiary are not subsidized by revenues of such dominant carrier from telecommunications services or facilities which are subject to the regulatory authority of the Commission or the State communications commmission. Sets forth the requirements applicable to the furnishing of telecommunications services or facilities by dominant carriers and by intraexchange carriers. Declares that any dominant carrier which is subject to any consent judgement or decree entered into before the date of enactment of this Act, and any company or other business organization affiliated with such carrier, may provide any service, facility, or product which is not subject to the regulatory authority of the Commission or to the regulatory authority of any State Commission and which is: (1) a telecommunications service, facility, or product; or (2) a service, facility, or product which is incidental to telecommunications. Grants the Commission, in disputed cases, the authority to determine whether any service, facility, or product is incidental to telecommunications. Establishes a transitional joint board for the purpose of: (1) providing for an orderly transition to the system of intraexchange access fees established by this Act; (2) ensuring equitable economic treatment of subscribers to basic telecommunications service, and of competing interexchange carriers; and (3) ensuring equitable treatment of terminal equipment and related facilities in use on the date of enactment of this Act, and ensuring the continued availability of such equipment and related facilities to customers. Declares that the authority of the transitional joint board with respect to the functions established by this Act shall supersede the authority of any joint board in existence on the date of enactment of this Act. Declares that the transitional joint board shall have the authority to perform such acts, to establish such rules and regulations, and to issue such orders as are consistent with the provisions of this Act and as may be necessary to carry out its functions. Requires such board to submit annual reports to each House of Congress with respect to its activities. Terminates the transitional joint board at the end of the 45-month period following the date of enactment of this Act. Transfers the functions and duties of such board, upon its terminaton, to the Commission. Establishes a system of intraexchange access fees for the use of intraexchange telecommunications services by interexchange carriers and other customers in order to achieve specified functions. Requires each intraexchange carrier, with specified exceptions, to submit to the Commission a schedule of fees for the use of its telecommunications services or facilities by all interexchange carriers and other customers which use the facilities of such intraexchange carrier through interconnection with such facilities. Directs the Commission to approve, disapprove, or modify any such schedule of fees to ensure that such fees are consistent with the provisions of this Act. Establishes a Natonal Telecommunications Pool which shall be administered by the transitional joint board, until the termination of such board, at which time the Pool shall be administered by the Commission. Requires intraexchange access fees, in such amounts as may be allocated by the transitional joint board, to be deposited into the National Telecommunications Pool to be disbursed by such board in order to ensure the alleviation of the effects of any substantial or undue increases in charges for intraexchange or interexchange telecommunications services or facilities. Requires each dominant carrier or other interexchange carrier to maintain a system of accounting methods, procedures, and techniques which shall be established by the Commission to ensure a proper allocation of costs to, and among, various telecommunications services, facilities, and products which are offered by such carrier or any affiliate of such carrier and are subject to the regulatory authority of the Commission. Requires the Commission to submit an interim report to each House of Congress, not later than 18 months after the date of enactment of this Act, including a summary of action taken by the Commission to establish such accounting system. Requires the Commission to submit a final report to Congress as soon as practicable after the establishment of such accounting system. Allows any carrier, with specified stipulations, to engage in any meeting with any other carrier for purposes of planning or agreeing to: (1) the design, plan, construction, and maintenance of any network of telecommunications services or facilities; (2) the development of technical standards applicable to such services and facilities; and (3) any tariff for the provision of joint and through services. Requires a transcript of such meeting to be filed immediately with the Commission and to be available at the offices of the Commission for public inspection not later than 30 days after the meeting involved is conducted. Authorizes the President to require any carrier subject to the provisions of this Act to furnish telecommunications services or facilities to any Federal agency if the President determines that: (1) the provision of such services or facilities is necessary to promote the national defense and security or the emergency preparedness of the Nation; and (2) all other means of obtaining such services and facilities have been exhausted. Declares that the provisions of the Act relating to payment for such services shall apply if such a determination is made by the President. Declares that nothing in this Act shall be construed to affect in any manner the applicability of the Federal antitrust laws, or to express in any manner the sense of the Congress with respect to any litigation which is pending on the date of enactment of this Act.
United States · United States Congress · 13 December 1979
Amends the Internal Revenue Code to allow taxpayers an income tax credit for all ordinary and necessary expenses which such taxpayers incur in connection with an audit or a final judicial determination of their tax liability, if such audit or determination establishes that there is no tax deficiency. Disallows an income tax deduction for any audit expenses for which a credit is claimed under the provisions of this Act.
United States · United States Congress · 10 December 1979
National Forest Multiple-Use Management Act of 1980 - Specifies that lands within the National Forest System considered for wilderness designation under the Roadless Area Review and Evaluation (RARE) conducted by the Department of Agriculture, but not recommended for designation as wilderness or identified for further planning during the 96th Congress shall continue to be managed for uses other than wilderness in accordance with the Forest and Rangeland Renewable Resources Planning Act of 1974. Directs that lands within the National Forest System which have been recommended for designation as wilderness during the 96th Congress, but have not been included in the National Wilderness Preservation System prior to January 1, 1984, shall be managed beginning on such date for uses other than wilderness in accordance with the Forest and Rangeland Renewable Resources Planning Act of 1974. Directs that lands within the National Forest System which have been identified for further planning during the 96th Congress, but which have not been included in the National Wilderness Preservation System prior to January 1, 1985, shall be managed beginning on such date for uses other than wilderness. Stipulates that if: (1) an executive communication has been received by Congress recommending the designation of any such lands as wilderness prior to January 1, 1985, and such lands have not been included in the National Wilderness Preservation System prior to January 1, 1987, they shall be managed beginning January 1, 1987, for uses other than wilderness; and (2) at any time a determination is made by the Secretary of Agriculture under the Forest and Rangeland Renewable Resources Planning Act of 1974 that any such lands shall not be recommended for designation as wilderness, they shall be managed beginning on the date of such determination for uses other than wilderness in accordance with the Forest and Rangeland Renewable Resources Planning Act of 1974. Directs that lands within the National Forest System recommended for designation as primitive area during the 96th Congress, for termination and management for use other than wilderness, shall be managed after the date of enactment of this Act for uses other than wilderness in accordance with the Forest and Rangeland Renewable Resources Planning Act of 1974. Directs that lands within the National Forest System that have been recommended for designation as primitive area during the 96th, for termination and designation as wilderness, but which have not been included in the National Wilderness Preservation System prior to January 1, 1984, shall be managed beginning on such date for uses other than wilderness in accordance with the Forest and Rangeland Renewable Resources Planning Act of 1974.
United States · United States Congress · 5 December 1979
Soft Drink Interbrand Competition Act - Amends the Federal Trade Commission Act to declare that exclusive territorial arrangements made as a part of a licensing agreement for the manufacture, distribution, or sale of a trademarked soft drink product are lawful under the antitrust laws provided such product is in substantial and effective competition with other products of the same general class. Prohibits recovery in private actions under the Clayton Act based on territorial provisions in a trademark licensing agreement prior to a final determination that such provisions are unlawful.
United States · United States Congress · 4 December 1979
Title I: Limitation on Future Growth of Federal Spending and Tax Expenditures - Federal Spending and Tax Expenditure Control Act of 1979 - Amends the Congressional Budget Act of 1974 to prohibit the adoption of any concurrent resolution on the budget which sets forth a level of total budget outlays and total tax expenditures in excess of 28.5 percent of the gross national product in fiscal year 1981, 28 percent of the gross national product in fiscal year 1982, or 27.5 percent of the gross national product in any fiscal year thereafter. Establishes procedures to enable the President and the Congress to suspend such limitations on budget outlays and tax expenditures. Title II: Federal Credit Program Control - Federal Credit Program Control Act of 1979 - Declares that the purpose of this Act is to provide a basis for controlling loans and loan guarantees under Federal credit programs through the congressional budget process. Requires the first concurrent resolution on the budget for each fiscal year to set forth the appropriate level of total gross obligations for the principal amount of direct loans and the appropriate level of total commitments to guarantee loans and to allocate such totals among the major functional categories of the budget. Directs each standing committee of the House and Senate to submit its estimates of direct loan obligations and loan guarantee commitments provided for in legislation under its jurisdiction by March 15 of each year for consideration of the Budget Committees in formulating the budget resolution. Directs the House and Senate Banking Committees to submit recommendations to the Budget Committees for the aggregate levels of direct loans and loan guarantees in each fiscal year. Requires the joint explanatory statement accompanying a conference report on the concurrent resolution on the budget to include an estimated allocation of the total levels of direct loan obligations and loan guarantee commitments among the committees of the House and Senate. Directs the Committees on Appropriations to provide such an allocation among their subcommittees as soon as practicable after a budget resolution has been agreed to. Requires the House Committee on Appropriations, before reporting any regular appropriations bills, to submit a summary report to the House comparing the credit authority contained in such bills to the levels agreed to in the budget resolution. Requires any report accompanying legislation conferring new budget authority or increasing tax expenditures to include information on direct loan obligations and loan guarantee commitments. Establishes a deadline for the completion of action on legislation providing credit authority. Requires the second concurrent resolution on the budget in any fiscal year and the reconciliation process to take into account Federal obligations and commitments on loans and loan guarantees. Declares out of order any measure brought up for consideration in either House which would increase the level of loan obligations and guarantee commitments agreed to in the budget process. Requires any authority to guarantee the payment of any indebtedness to be contingent on provisions in appropriation Acts.
United States · United States Congress · 16 November 1979
Domestic and International Telegraph Traffic Act of 1979 - Amends the Communications Act of 1934 to repeal certain provisions of such act which relate to the domestic and international distribution of telegraph traffic by wire or radio. Declares that during the 12-month period beginning on the date of enactment of this Act, no consolidated or merged carrier may engage in any international transmission of telegraph traffic by wire or radio or otherwise engage in any international telegraph operations which are not authorized under the provisions of the Communications Act of 1934. Prohibits any international telegraph carrier from engaging in any domestic distribution of telegraph traffic by wire or radio or otherwise engage in any domestic telegraph operations to the extent that: (1) the nature of such distribution or operations differs from the nature of such distribution or operations as in effect at the beginning of November 1, 1979; or (2) the scope of such distribution or operations exceeds the scope of such distribution or operations as in effect at the beginning of November 1, 1979. Directs each consolidated or merged carrier to: (1) distribute among international telegraph carriers any telegraph traffic by wire or radio destined for any point outside the United States; and (2) divide charges for such traffic in accordance with any formula or practice in effect at the beginning of November 1, 1979.
![Official portrait of Rep. Broyhill, James T. [R-NC-10]](https://www.congress.gov/img/member/b000966_200.jpg)