United States · United States Congress · 25 June 1986
Federal Accounting Practices Review Commission Act of 1986 - Title I: Title, Statement of Findings, Purpose and Limitations - Declares the reasons for, and purposes of, this Act. Title II: Establishment, Duties, and Membership - Establishes the Federal Accounting Practices Review Commission to: (1) examine and describe the financial management practices of the Federal Government; (2) formulate a financial accounting and management system for Federal agencies; (3) prepare a plan for implementation of such system; and (4) recommend an ongoing method for determining and updating generally accepted accounting principles for the Government. Title III: Administration - Sets forth the administrative staffing, procedures, and powers of the Commission. Requires the Commission to submit a final report to the President and the Congress not later than 18 months after the date of completion of appointments of members to the Commission. Terminates the Commission 30 days after submission of such report. Authorizes appropriations.
United States · United States Congress · 19 June 1986
Designates July 3, 1986, as Let Freedom Ring Day. Requests the President to encourage people to ring bells immediately following the relighting of the torch of the Statue of Liberty.
United States · United States Congress · 18 June 1986
Social Security Administrative and Investment Reform Act of 1986 - Title I: Establishment of the Social Security Administration - Amends title VII (Administration) of the Social Security Act to establish as an independent executive agency a Social Security Administration, headed by a Social Security Board. Provides that it shall be the duty of the Administration to administer the programs established by titles II (Old Age, Survivors and Disability Insurance) and XVI (Supplemental Security Income) of the Social Security Act. Requires the Board to study and make recommendations as to the most effective methods of providing economic security through social insurance and as to legislation and matters of administrative policy. Establishes in the Administration: (1) a Commissioner of Social Security; (2) a Deputy Commissioner of Social Security; (3) a General Counsel; (4) an Inspector General; and (5) an Office of the Beneficiary Ombudsman, to be headed by a Beneficiary Ombudsman who shall represent the interests of beneficiaries under the Old Age, Survivors and Disability Insurance program and the Supplemental Security Income Program within the Administration. Requires the annual report of the Board to include a description of the activities of the Beneficiary Ombudsman. Requires the Board to make annual budgetary recommendations relating to the Administration. Requires that appropriations requests by the Administration for staffing and personnel be based upon a comprehensive workforce plan as established by the Board. Provides for the apportionment of administrative costs. Requires the annual report of the Board to include a section reflecting the use of budget authority provided to the Administration. Requires that authority for automated data processing procurement and facilities construction be provided in the form of contract authority covering the total cost of such acquisitions. Makes amounts needed for the liquidation of contract authority so provided available from the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to the extent that such amounts are not needed to meet current obligations for benefit payments. Requires the Board and the Director of the Office of Personnel Management to implement demonstration projects relating to personnel matters. Directs the Board and the Administrator of General Services to implement such projects relating to delegations from the Administrator. Specifies the authorities which are to be delegated to the Board from the Administrator and the Director. Requires the Comptroller General to report to specified congressional committees concerning such projects, including an evaluation of the Board's readiness to assume full and permanent authority. Requires the Board to cause a seal of office to be made and judicial notice taken thereof. Provides for the transfer to the Administration of all functions carried out by the Secretary of Health and Human Services with respect to the programs and activities to be carried out by the Administration under this Act. Abolishes the position of Commissioner of Social Security in the Department of Health and Human Services. Sets forth effective date and transitional rule provisions. Title II: Conforming Amendments and Rules of Construction - Requires the Secretary and the Board to report to the Congress within 120 days after the beginning of each regular session on their administration under this Act. Requires the Secretary to study and make recommendations on the most effective methods of providing economic security and on the administrative policy for the programs. Directs the Board to appoint, quadrennially, an Advisory Council on the Old-Age, Survivors, and Disability Insurance Program and an Advisory Council on Health and Supplementary Medical Insurance to review the relation of the trust funds supporting the OASDI program and the Medicare program and the long-term commitments of those programs. Requires each council to submit a report to the Board for transmittal to the Congress and the Board of Trustees of each Trust Fund. Title III: Management of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund - Amends the OASDI program to direct the Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (OASDI trust funds) to immediately invest that portion of the OASDI trust funds which is not required for current withdrawals. Requires the investment to be made in accordance with policies established by the Social Security Board. Prohibits the sale and redemption of OASDI trust fund assets or the expenditure of OASDI trust fund amounts for purposes other than those specified in title II of the Act. Requires members of such trust funds' Board of Trustees to faithfully execute their duties, but does not impose a fiduciary duty. Requires that, in consideration of the public debt limit, required investment of trust fund amounts occur prior to the issuance of other obligations. Directs that tax receipts earmarked for the OASDI program be immediately transferred (currently, monthly transfers are made) from the general fund of the Treasury to the OASDI trust funds. Requires the Board of Trustees of the OASDI trust funds to meet at least twice each year. Sets forth provisions requiring reports by the Board of Trustees and the Managing Trustees to the Congress regarding the operation and status of the OASDI trust funds. Title IV: Additional Matters - Amends the OASDI program to prohibit the payment of OASDI benefits to individuals who have been deported pursuant to the Immigration and Nationality Act because of activities conducted under the direction of or in association with the Nazi government of Germany or its allies. Requires individuals to be paid interim benefits in cases where an administrative law judge has determined their entitlement to certain OASDI or SSI (Supplementary Security Income) benefits, but the Secretary's final decision has not been issued within 90 days of the judge's decision. Excludes any representative of the Department of Health and Human Services, the Social Security Administration, any other agency of such department, or an involved State agency from appearing as a party at an OASDI or SSI benefit hearing or participating in the development of the record of such hearing, unless, in the latter case, the presiding officer requests such participation.
United States · United States Congress · 12 June 1986
Corporation for Small Business Investment Charter Act - Amends the Small Business Investment Act of 1958 to include in the terms "small business investment company," "company," and "license" any company that is qualified to conduct business with the Corporation for Small Business Investment. Defines "small business concern" with respect to the Small Business Investment Act of 1958. Sets forth procedures for the qualification of small business investment companies (licensees) to conduct business with the Corporation for Small Business Investment and the termination, suspension, or revocation of the license of such companies that do not qualify under the provisions of this Act. Establishes the Corporation for Small Business Investment. Requires the President, within 60 days after enactment of this Act, to appoint an interim Board of Directors of the Corporation. Authorizes the Corporation to issue common and preferred stock and certain other obligations to small business investment companies. Authorizes the Secretary of the Treasury to purchase obligations issued by the Corporation. Exempts from U.S. securities laws all stocks and obligations issued by the Corporation. Deems the Corporation to be a U.S. agency. Authorizes the Corporation to: (1) make loans to small business investment companies; (2) purchase preferred securities, debentures, and guarantee debentures issued by such companies; and (3) act as issuer of such securities. Requires the Corporation to establish criteria for the qualification of: (1) small business investment companies to conduct business with such Corporation; and (2) special small business investment companies whose investments will be made solely in disadvantaged small businesses. Establishes a special-purpose trust for the benefit of special small business investment companies. Authorizes: (1) the trustees to purchase preferred securities; and (2) the Corporation to purchase or to guarantee debentures issued by special small business investment companies. Permits the purchase of ownership interests in small business investment companies by national banks. Authorizes small business investment companies to: (1) purchase stock issued by the Corporation; (2) borrow money; and (3) issue debenture bonds, promissory notes, or other obligations under conditions as prescribed by the Corporation. Authorizes the Corporation to enter into agreements regarding the operation of small business investment companies. Authorizes small business investment companies to provide equity capital and loans to small businesses. Requires the Corporation to adopt rules on conflicts of interest which may be detrimental to: (1) small businesses; (2) small business investment companies; or (3) the Corporation. Provides that the Small Business Administration shall have review authority over the Corporation. Requires the accounts of the Corporation to be audited annually. Requires a report of each audit to be: (1) furnished to the Secretary of the Treasury; and (2) made by the Secretary to the President and the Small Business Committees of the Congress not later than six months following the close of each fiscal year. Requires the Corporation, after the end of each fiscal year, to transmit to the President, the Small Business Committees of the Congress, and the Small Business Administration a report of its operations and activities during each year. Transfers to the Corporation all title to small business investment company securities that are guaranteed by the SBA and held by the Federal Financing Bank.
United States · United States Congress · 12 June 1986
Equity in Interstate Competition Act of 1986 - Authorizes States and the District of Columbia to require a person to collect a State sales tax imposed with respect to the sale of tangible personal property if: (1) the destination of sale is in such State; and (2) such person engages in regular or systematic soliciting of sales in such State and has gross receipts of certain amounts from sales within the State. Sets forth certain requirements which will qualify certain local sales taxes to be treated as State sales taxes. Prohibits a State from requiring any person who collects a State sales tax to make an accounting for the receipts of such tax on the basis of the geographical location at which the taxable transaction occurs. Limits the authority of the State to require a taxpayer to: (1) file more than four tax returns reporting the amount of such tax collected or required to be collected in any one-year period; or (2) file a return and remit the receipts of such tax more frequently than once in a calendar quarter, or before the expiration of the 20-day period beginning on the last day of the period for which such return is required to be filed. Provides that any person required by a State to collect a State sales tax shall be subject to the laws of such State relating to such sales tax.
United States · United States Congress · 5 June 1986
Amends the Perishable Agricultural Commodities Act, 1930 to require commission merchants, dealers, and brokers to label perishable agricultural commodities with their country of origin if not otherwise so indicated as provided for under the Tariff Act of 1930.
United States · United States Congress · 4 June 1986
Amends the Federal Aviation Act of 1958 to prohibit smoking on passenger aircraft if: (1) the flight is scheduled for two hours or less; or (2) seating is not assigned on such flight.
United States · United States Congress · 22 May 1986
Amends the Internal Revenue Code to allow homeowners to deduct the full amount of prepaid interest in connection with the refinancing of their principal residences for the taxable year in which paid.
United States · United States Congress · 21 May 1986
Low Income Elderly and Disabled Medicaid Amendments of 1986 - Title I: Optional Coverage of Elderly and Disabled Poor for All Medicaid Benefits - Amends title XIX (Medicaid) of the Social Security Act to give States the option of extending Medicaid coverage to elderly and disabled individuals whose income is too high for them to qualify for Medicaid under current income tests, but does not exceed a State maximum income level to be established at or below the Federal poverty level. Requires States providing coverage under this Act to provide Medicaid coverage, pursuant to the Medicaid Infant Mortality Amendments of 1986, to pregnant women and infants whose income does not exceed the State maximum income level. Title II: Optional Coverage of Poor Medicare Beneficiaries for Medicare Cost-Sharing Expenses - Authorizes the States to provide Medicaid coverage for Medicare (title XVIII of the Act) premiums, deductibles, and coinsurance payments for which Medicare-eligible individuals whose income does not exceed the State maximum income level would otherwise be accountable.
United States · United States Congress · 1 May 1986
Declares that the House of Representatives urges: (1) the Soviet Union to share with the international scientific community information about the Chernobyl accident and to open the nuclear site for international inspection; (2) the establishment of an international emergency alert system; (3) the International Atomic Energy Agency to establish safety standards for nuclear power plants; and (4) the United States and other member nations of the Agency to implement standards by directing the Agency to establish an international emergency response force. Encourages the formation of an international commission to examine the causes of the Chernobyl accident.
United States · United States Congress · 30 April 1986
Provides that, for taxable years beginning after 1984, rural letter carriers are permitted to compute the amount of their deduction for use of their automobiles in performance of such services: (1) by using a standard mileage rate for all such miles of such use equal to 150 percent of the basic standard rate; or (2) without applying the limitation on deductions rules where the business use of the automobile used in performing such services is not greater than 50 percent of the time. Prohibits the use of 150 percent of the basic standard mileage rate in determining the allowable deduction where the taxpayer claimed an investment tax credit or depreciation deduction for such automobile.
United States · United States Congress · 29 April 1986
Declares that the House of Representatives: (1) condemns the Soviet Union's failure to provide notification and information about the nuclear accident at Chernobyl; and (2) calls upon the Soviet Union to permit outside nuclear experts to assist with the accident and to allow the international press corps to cover the situation.
United States · United States Congress · 28 April 1986
Authorizes the Secretary of the Army to issue a permit under the Clean Water Act and the River and Harbor Act of 1899 for the Stacy Dam, Reservoir, and Pipeline Project of the Colorado River Municipal Water District, Texas, not later than November 30, 1986, notwithstanding any pending threatened species proposals by the Secretary of the Interior.
United States · United States Congress · 22 April 1986
Requires the Administrator of Veterans Affairs to contract with non-Veterans Administration (VA) health-care facilities for the furnishing of health care for veterans in areas determined to be substantial growth areas which are geographically inaccessible to present VA facilities. Defines "substantial growth area."
United States · United States Congress · 22 April 1986
Expresses the sense of the Congress that a Children's Challenge Center for Space Science should be established in conjunction with the National Aeronautics and Space Administration at the Johnson Space Center as a memorial to the seven Challenger astronauts and others who gave their lives exploring space.
United States · United States Congress · 17 April 1986
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to eliminate the requirement that there be at least a three-percent rise in the Consumer Price Index before a cost-of-living adjustment of benefits is made.
United States · United States Congress · 17 April 1986
Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to allow an extension of time for the filing of claims for credit or refund of Federal income taxes for insolvent farmers who were exempted by such Act from the alternative minimum tax on capital gains realized on the transfer or sale of farmland under threat of foreclosure or in cancellation of indebtedness.
United States · United States Congress · 17 April 1986
Declares that the House of Representatives, on behalf of the U.S. people, expresses its gratitude to the Government and people of the United Kingdom who assisted the United States in its exercise of self-defense against Libya and in the fight against state-sponsored international terrorism.
United States · United States Congress · 15 April 1986
Amends the Bank Secrecy Act to prohibit any person from: (1) causing or attempting to cause a domestic financial institution to file a required coin or currency transaction report containing a material omission of misstatement of fact or to fail to file a required report; or (2) structuring or assisting in structuring a transaction for the purpose of evading reporting requirements. Authorizes the seizure and forfeiture to the United States of: (1) any transported monetary instrument or any interest in other property (including any deposit in a financial institution) traceable to such instrument when a required report on such instrument has not been filed or contains a material omission or misstatement; and (2) any U.S. coin or currency or any interest in other property traceable to such coin or currency involved in a transaction for which a required report has not been filed. Provides that no property or interest therein shall be forfeited if the owner is a bona fide purchaser for value with no knowledge of the reporting requirement violation. Amends the Internal Revenue Code to provide for the enforcement of such seizure and forfeiture authority by internal revenue enforcement officers. Authorizes the Secretary of the Treasury to impose a civil penalty on a person (excluding a domestic financial institution examined by a Federal bank supervisory agency or a financial institution regulated by the Securities and Exchange Commission) who willfully violates a coin or currency transaction reporting requirement. Limits the penalty to the amount of the coin or currency involved reduced by any amount already forfeited.
United States · United States Congress · 15 April 1986
Imposes a moratorium on imports of Canadian beef from the 15th day after enactment of this Act until it is determined that such imports do not cause or threaten serious injury to U.S. beef industries. Requires the International Trade Commission (ITC) to determine, within six months of enactment of this Act, whether increased imports of Canadian beef are a substantial cause of serious injury or threat of serious injury to the U.S. beef industries. Ends the moratorium if the ITC finds that such imports are not a substantial cause of, or threat of, serious injury. Requires the ITC to update the study periodically if the ITC finds that serious injury has been caused or threatened. Terminates the moratorium, under such circumstances, when an update shows that the injury or threat of injury is no longer serious.
United States · United States Congress · 10 April 1986
Amends the Low-Income Home Energy Assistance Act of 1981 to specify the State allotment formula which the Secretary of Health and Human Services is required to use when implementing a presidential order requiring the sequestration (through the application of a reduction percentage) of budget authority provided for FY 1986 or any fiscal year thereafter.
United States · United States Congress · 10 April 1986
Secure Energy Supply Act of 1986 - Title I: Deduction and Special Net Operating Loss Treatment for Producers for Certain Losses On Crude Oil - Amends the Internal Revenue Code to permit crude oil producers to deduct as a qualified loss 100 percent of the amount by which the removal price of the oil is below the adjusted base price of such oil plus the amount of the severance tax adjustment with respect to such oil, in the case of independent producer oil, and 80 percent of such amount for all other domestic crude oil. Prohibits the aggregate loss deductions from exceeding the aggregate amount of windfall profit tax paid by such producer. Allows the qualified losses with respect to domestic crude oil to be carried back to each of the six taxable years preceding the taxable year of such loss. Repeals the windfall profit tax. Title II: Increase in Tariffs on Petroleum and Petroleum Products - Amends the Tariff Schedules of the United States to increase the duties on crude petroleum and fuel oils, crude shale oil, motor fuels, kerosene, and napthas imported into the United States (by specified amounts plus applicable offset amounts per barrel). Defines "applicable offset amount." Requires the Secretary of the Treasury to refund the applicable offset amount if the petroleum product on which such duty was paid: (1) was used as heating fuel or in the production of heating fuel; or (2) is necessary to the manufacturing process for products destined for export. Provides that revenues from the increased duties imposed by this Act shall be allocated to the Petroleum Tariff Account. Authorizes and directs the Secretary of the Treasury to pay out of such account any refunds which are allowed under this Act. Expresses the sense of the Congress that any funds in such account that are not needed to make such refunds should be used to reduce the Federal budget deficit. Title III: Filling Strategic Petroleum Reserve with Stripper Well Oil - Amends the Energy Policy and Conservation Act to require the Strategic Petroleum Reserve to be filled with crude oil produced in the United States from stripper wells or crude oil exchanged for stripper well oil. Requires the oil to be purchased at an adjusted base price level established under the Windfall Profit Tax Act. Authorizes appropriations for the purpose of filling the Strategic Petroleum Reserve. Title IV: Removal of Wellhead Price Controls and Repeal of Natural Gas Act Jurisdiction Over Certain First Sales of Natural Gas - Amends the Natural Gas Policy Act to remove the wellhead price controls on certain natural gas. Repeals Natural Gas Policy Act jurisdiction over certain sales of committed or dedicated natural gas. Repeals provisions relating to: (1) allowing the reimposition of price controls; and (2) reports to the Congress. Title V: Repeal of Certain Restrictions On the Use of Natural Gas and Petroleum - Repeals certain provisions of the Powerplant and Industrial Fuel Use Act of 1978 pertaining to restrictions on the use of natural gas and petroleum, including the restrictions on the construction of gas-burning electric power plants. Title VI: Repeal of Incremental Pricing Requirements - Repeals the incremental pricing requirements contained in the Natural Gas Policy Act. Title VII: Flexibility in Rescheduling or Marking Down Troubled Loans - Directs the chairmen of the Federal Reserve Board and the Federal Deposit Insurance Corporation to promulgate regulations granting financial institutions with energy-related loans greater flexibility in rescheduling or marking down troubled loans.
United States · United States Congress · 9 April 1986
Prohibits the issuance of a letter of offer with respect to specified proposed sales of Sidewinder, Stinger, and Harpoon missiles and services to Saudi Arabia, as described in the April 8, 1986, certifications from the President to the Congress under the Arms Export Control Act.
United States · United States Congress · 8 April 1986
Continental Scientific Drilling and Exploration Act - Directs the Secretary of Energy, the Secretary of the Interior through the United States Geological Survey, and the Director of the National Science Foundation to implement the policies of the proposed Continental Scientific Drilling Program of the United States relating to earth science research and technological development. Prescribes guidelines for such implementation, including: (1) taking action to assure an effective cooperative effort in furtherance of the Program; (2) taking administrative and financial measures to assure the effective functioning of the Interagency Accord on Continental Scientific Drilling; (3) assuring the continuing operation of the Interagency Coordinating Group; and (4) assuring that the Interagency Coordinating Group receives appropriate Federal agency cooperation. Requires a report to the Congress within 180 days of enactment which describes: (1) policy objectives; (2) projected schedules of scientific and engineering events that would advance Program objectives; (3) resources and funding levels needed for projected schedules of events and Program policy objectives; and (4) cooperation with the international community.
United States · United States Congress · 8 April 1986
Makes individuals who are not U.S. citizens or nationals and specified foreign-controlled interests ineligible for agricultural price supports, loans, crop insurance, and disaster payments. Exempts a foreign interest operating a single small- or medium-sized family farm from such prohibition.
United States · United States Congress · 8 April 1986
Amends the Internal Revenue Code to deny the tax exclusion for interest on industrial development bonds used to finance the acquisition of farm property by foreign persons. Defines a "foreign person" as: (1) any individual who is not a citizen or national of the United States; (2) any foreign corporation, foreign partnership, foreign trust, or foreign estate; (3) any domestic corporation more than ten percent of the value of the stock of which is held by one or more foreign persons; (4) any domestic partnership more than ten percent of the capital or profits interest in which is held by one or more foreign persons; or (5) any domestic trust more than ten percent of the beneficial interests in which is held by one or more foreign persons.
United States · United States Congress · 8 April 1986
Expresses the sense of the Congress that the Farm Credit Administration and its associated agencies and institutions should take additional actions to alleviate the agricultural financial situation, including restructuring, rather than foreclosing, loans.
United States · United States Congress · 8 April 1986
Expresses the sense of the Congress that Federal telecommunications policy should maintain universal telephone service, retain nationwide toll rate averaging for interstate long distance calls, and reduce regulatory and administrative burdens on small telephone systems. Provides that any Federal access charge plan should: (1) support rural telephone systems through a universal service fund designed to ensure affordable rural telephone rates; (2) allocate to interstate long distance service no less than the proportion of the local telephone system access costs currently allocated to such service; (3) retain the current arrangement for the pooling of such costs; and (4) avoid collecting all of such costs by means of flat rate access charges.
United States · United States Congress · 19 March 1986
Expresses the sense of the House of Representatives that Federal excise taxes and tariffs when incurred by business in the production of income should remain deductible for Federal income tax purposes.
United States · United States Congress · 13 March 1986
National Space Grant College Act - Establishes, within the National Aeronautics and Space Administration (NASA), a national space grant college program to provide financial and other assistance for space-related projects administered by a space grant college, consortium, institute, laboratory, or State or local agency. Provides for: (1) a NASA Director of such programs; (2) grants and contracts to assist space grant programs or projects, programs or projects addressing national needs or problems relating to space, and programs or projects promoting international cooperation relating to space; (3) designation of space grant colleges and space grant regional consortia; (4) space grant fellowships; (5) a space grant review panel; (6) interagency cooperation; and (7) a biennial report and evaluation to the Congress. Authorizes appropriations for FY 1986 through 1989.
United States · United States Congress · 5 March 1986
Amends the patent laws and the National Aeronautics and Space Act of 1958 to provide that any invention made or used in outer space on an aeronautical and space vehicle under the jurisdiction or control of the United States shall be considered made or used within the United States, except as provided for by an international agreement. Applies this provision to all patents granted before, on, or after the date of enactment of this Act, with certain exceptions.
United States · United States Congress · 27 February 1986
Amends Federal law relating to competition requirements in defense contracts to direct the head of a defense agency to require any firm that submits a bid or proposal in response to a solicitation to disclose in such bid or proposal any significant interest in that firm that is owned or controlled by a foreign government or a foreign national. Requires the head of an agency to exclude from consideration for a contract exceeding $100,000 a firm in which a hostile foreign government or covered foreign national owns or controls a significant interest. Directs the Secretary of Defense to prescribe regulations listing hostile foreign governments. Makes this Act inapplicable to the Coast Guard or the National Aeronautics and Space Administration.
United States · United States Congress · 27 February 1986
Amends part B (Peer Review) of title IX of the Social Security Act to require peer review organizations receiving a Medicare beneficiary's request, while such beneficiary is still a hospital inpatient, for reconsideration of a determination denying payment for continuing inpatient hospital care to give the beneficiary notice of its reconsidered determination within two days of receiving the request.
![Official portrait of Rep. Chapman, Jim [D-TX-1]](https://www.congress.gov/img/member/c000312_200.jpg)