United States · United States Congress · 30 July 1981
Retirement Income Incentives and Administrative Simplification Act of 1981 - Title I: Employee Benefit Administration - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to direct the President to establish, by the beginning of the second calendar year after enactment of this Act, the Employee Benefit Administration as an independent agency within the executive branch to be headed by a three member Board of Directors. Provides for the appointment as Board members: (1) "special liaison officers to the Administration" whose positions are established within the Offices of the Secretary of Labor and the Secretary of the Treasury; and (2) an Executive Director appointed by the President. Vests in the Board all functions relating to the qualification of employee benefit plans under the Internal Revenue Code. Transfers to the Board the responsibilities for administration and enforcement of: (1) the Welfare and Pension Disclosure Act; (2) Internal Revenue Code provisions relating to tax-qualified deferred compensation plans and certain other employee benefit plans; and (3) ERISA. Directs the President to transfer to the Board additional functions of any Federal agency as are deemed necessary to consolidate in the Administration all administrative and related functions regarding employee benefit plans. Directs the Board to promulgate regulations providing for the consolidation of all reports regarding employee benefit plans and governmental plans required under ERISA or the Internal Revenue Code. Sets forth the duties and responsibilities of the Board, the Secretary of the Treasury, and other Federal agencies with respect to the coordination of functions under ERISA and the Internal Revenue Code. Authorizes appropriations to the Administration for purposes of carrying out its functions. Transfers the Joint Board for the Enrollment of Actuaries (redesignated as the "Actuary Enrollment Board") to the Administration. Removes the Pension Benefit Guaranty Corporation from the Department of Labor and replaces its board of directors with that of the Administration. Title II: Amendments to the Employee Retirement Income Security Act of 1974 - Subtitle A: Amendments to Definitions - Amends ERISA to specify supplemental retirement income arrangements which are to be considered welfare plans rather than pension plans. Authorizes the Secretary of Labor to exempt by regulation any severance pay or supplemental income arrangement from provisions applicable to welfare plans and to provide alternative methods of compliance with any such provision. Conforms the definitions of "party in interest" and "governmental plan" with the Internal Revenue Code. Revises the definitions of "normal retirement age" and "relative." Subtitle B: Amendments to Reporting and Disclosure Provisions - Eliminates requirements regarding the filing of a plan description with the Secretary of Labor. Requires, rather than allows, qualified public accountants and actuaries to rely on the correctness of actuarial or accounting matters certified to by an enrolled actuary or with respect to which a qualified public accountant has expressed an opinion, respectively, for purposes of the preparation of annual reports. Allows a pension plan which is held in a trust consisting of the assets of two or more participating plans which are maintained by a single employer (or by two or more employers all of whom are members of the same controlled group) to elect to include in its annual report certain information regarding all of the assets of the trust in lieu of the information currently required to be reported by a plan. Eliminates the requirement that the present value of certain plan liabilities be included in the actuarial statement. Revises requirements regarding simplified annual reports for pension plans with less than 100 participants. Requires the distribution of updated summary plan descriptions every tenth year, rather than every fifth year, after the plan becomes subject to the reporting and disclosure requirements. Modifies the requirement that a plan administrator furnish to a participant or beneficiary a copy of certain financial statements to direct the administrator to post such statements at principal work sites together with a statement of the right of employee participants to receive copies of the latest annual report and summary plan description. Directs the Secretary of Labor to provide for alternative means by which such information may be communicated to participants. Limits to ten dollars the charge for a complete copy of the latest annual report or other instrument under which a plan is established or operated. Specifies information required to be provided by an applicant for an advance determination by the Secretary of the Treasury that a plan is a tax-qualified deferred compensation plan. Revises requirements regarding the disclosure to a participant or beneficiary of benefit rights and account information. Directs administrators to issue reports to certain plan participants who have separated from service stating the nature, amount, and form of the deferred vested benefit to which they are entitled. Requires employers to maintain records regarding each employee sufficient to determine the benefits due to the employee. Prohibits public access to pension report information in computer-compatible form until a statement has been filed with the Secretary of Labor by the recipient of the information which provides assurances that the information will not be used for commercial purposes. Requires, rather than allows, the Secretary to prescribe an alternative method of compliance with reporting requirements under certain circumstances. Specifies circumstances in which the administrator of a multiemployer plan may use an alternative method of information distribution. Subtitle C: Amendments to Participation and Vesting Provisions - Permits the determination of pension plan eligibility on a plan year basis. Modifies provisions regarding the suspension of benefit payments by multiemployer plans, where the employee is employed in the same industry, trade or craft, and geographic area covered by the plan, to permit the term "employed" to include self-employment and work on an irregular basis. Specifies that the notification and election requirement triggered by a change in vesting schedules shall be applicable only to employees who would be adversely affected by the change. Makes 125 days of service in any maritime industry equivalent to 1,000 hours of service for purposes of satisfying benefit accrual requirements. Allows a multiemployer plan to provide that a participant's accrued benefit upon separation is the sum of the different rates of benefit accrual for different periods of participation as defined by one or more fixed calendar dates or by employment in different bargaining units. Specifies that the normal retirement benefit, for purposes of computing the minimum accrued benefit to which a participant is entitled upon separation, shall be a projected normal retirement benefit. Requires a plan offering an optional benefit form, in order not to be treated as having altered a participant's accrued benefit by reason of a change in actuarial assumptions, to set forth such assumptions in a separate document. Requires plans in which a majority of employees are seasonal employees to use 500 hours, rather than 1000 hours, for purposes of defining a year of service. Permits a period of service, in the case of a multiemployer plan, to qualify as a year of participation although a plan makes allowance for delinquent employer contributions. Revises joint and survivor annuity requirements. Allows the assignment of pension plan benefits pursuant to a specific State court decree of divorce, annulment, legal separation, or family support or a court order relating to marital property rights. Prescribes notification requirements with respect to any such assignment. Directs the Secretary of the Treasury to prescribe methods of measuring service based upon the elapsed time of an employee's service. Subtitle D: Amendments to Funding Provisions - Makes certain revisions with respect to funding, including a requirement that changes in funding method or plan year need be approved only when made more than once in a three-year period and a requirement that a funding method take into account future benefit changes. Subtitle E: Amendments to Fiduciary Responsibility Provisions - Excludes from the assets of a plan any assets of an insurer which funds the plan and which are not held in separate accounts, other than a contract or policy of insurance issued to the plan, solely by reason of such issuance. Revises provisions regarding the designation and responsibilities of fiduciaries. Permits the return to an employer of an overpayment of withdrawal liability: (1) in the case of a multiemployer plan; and (2) in the case of a multiemployer plan maintained pursuant to collective bargaining agreements where it is determined that a contribution was made by a mistake of fact or law. Relieves co-fiduciaries to whom a specific duty has not been allocated from liability for an act or omission by a named fiduciary to whom the duty has been allocated. Revises the provisions regarding prohibited transactions by a fiduciary. Revises the definition of "qualifying employer real property" for purposes of the limitation on the acquisition and holding of real property by a plan. Modifies the coverage of the exemption from prohibited transactions effected by the Internal Revenue Code provision which taxes such transactions. Exempts from such prohibitions: (1) certain loans made by a defined contribution plan to a party in interest who is a substantial employer maintaining the plan; and (2) certain leases of personal property between such parties. Conforms certain provisions regarding transactions by parties in interest with provisions of the Internal Revenue Code. Extends the prohibited transaction exemption procedure to owner-employees. Excludes from the assets of a plan, for purposes of the prohibited transactions provision and the limitation on the acquisition and holding of employer securities and employer real property, assets in a pooled separate account of an insurer or in a collective investment fund of a bank supervised by the United States or a State. Allows an exclusion, for purposes of such limitation, if the insurer or bank provides a written assurance that the separate account or trust may not acquire any employer securities or employer real property issued by or leased to any employer or affiliate where the aggregate value of such property after such acquisition would exceed ten percent of the fair market value of the assets of the separate account or trust. Permits indemnification by a plan against expenses or liability for losses incurred in connection with any administrative or judicial civil action or proceeding, subject to a determination that the fiduciary has acted in good faith. Subtitle F: Amendments to Administration and Enforcement Provisions - Creates a civil cause of action for collection by a fiduciary of a multiemployer plan of delinquent employer contributions, subject to a six-year statute of limitations (three years after the date of actual knowledge of the cause of action). Makes available to the Department of Labor for purposes of administering ERISA any amounts which become available through the public request of information. Revises the composition of the Advisory Council on Employee Welfare and Pension Benefit Plans to require that one of the employer members be a representative of employers maintaining small plans. Directs the Secretary of Labor to publish at least annually reports showing the number of plans and participants; amounts of assets, income, and expenses; and certain other information categorized by plan size and type. Deems as preempted by ERISA certain provisions of State law: (1) regarding benefits provided by an insurance policy issued to an employee benefit plan; and (2) which treat a participant's interest in a plan as a security or similar right. Deems as not preempted by ERISA certain provisions of State law: (1) which require an insurance policy issued to a plan to permit a participant to convert or continue protection after the termination of the insurance coverage under the plan; and (2) which prohibit such an insurance policy from classifying health care services as ineligible for coverage solely because the provider is licensed as a provider of services other than those rendered by a medical doctor. Specifies that a participant's interest in a plan covered by ERISA shall not be considered a security or similar right for purposes of the Acts administered by the Securities and Exchange Commission. Subtitle G: Clarifying and Technical Amendments - Makes certain technical changes and corrections. Subtitle H: Reports - Directs the Secretaries of Labor and the Treasury to conduct jointly detailed studies of means by which: (1) administrative burdens of ERISA reporting requirements may be reduced; and (2) certain businesses and banking institutions may be enabled to develop master and prototype pension plans. Title III: Amendments to the Internal Revenue Code of 1954 - Subtitle A: Amendments Related to Title III Amendments - Amends the Internal Revenue Code to make conforming changes in accordance with the provisions of title III of this Act. Subtitle B: Miscellaneous Amendments - Includes in the number of calendar years of active participation in a plan, for purposes of capital gains tax treatment of a portion of a lump sum distribution, active participation in another plan maintained by a predecessor employer or by a member of the same controlled group if the participant's employment was continuous between participation in both such plans. Includes such participation in the minimum period of service required for imposition of the separate tax on lump sum distributions. Revises the rule regarding aggregation of certain trusts and plans for purposes of determining the balance to the credit of an employee which becomes payable to the recipient. Deems a separation from service to have occurred, for purposes of the definition of "lump sum distribution," if an employee has not worked in service covered by the plan for six consecutive months following severance of the employment relationship. Subjects target benefit plans to the limitations on benefits and contributions imposed on defined benefit plans. Permits the rollover into individual retirement accounts or retirement bonds of employee contributions used in calculating rollover amounts for purposes of the taxability of the beneficiary of an employees' trust. Treats such contributions as a source of a rollover amount paid or distributed out of an individual retirement account or annuity or transferred from retirement bonds. Excludes from "acquisition indebtedness," for purposes of computing unrelated business taxable income, certain indebtedness to an insurer incurred by a tax-qualified deferred compensation plan. Provides an actuarial adjustment of the average compensation limit on benefits and contributions imposed on defined benefit plans in the case of a participant whose service continues beyond normal retirement age. Reduces from ten years to five years the period for amortization of past service or other supplementary pension or annuity credits for purposes of determining the amount contributed to pension trusts which is deductible. Specifies conditions under which a plan will be deemed not to have engaged in prohibited discrimination. Permits certain plans to be considered non-discriminatory which meet specified benefit-compensation ratio requirements and: (1) exclude employees whose remuneration consists wholly of "wages" (as defined by the Federal Insurance Contributions Act); or (2) the contributions to or benefits from which based on remuneration not deemed "wages" differ from the contributions or benefits based on wages or differ because of retirement benefits created under State or Federal law. Title IV: Individual Retirement Payroll Deduction Plans for Employees Not Covered by Pension Plans - Amends ERISA to create a new title V, "Individual Retirement Payroll Deduction Plans for Employees Not Covered by Pension Plans," which requires a covered employer to maintain a plan under which eligible employees (those ineligible for coverage under certain pension or retirement plans) may elect to have payroll deductions applied to an individual retirement account or annuity or a retirement bond. Defines "covered employer" as a person engaged in an industry affecting commerce who: (1) had at least 20 employees for each working day in each of at least 20 calendar weeks during the year; and (2) has been engaged in such industry throughout the preceding five-year period. Exempts from such requirement: (1) any covered employer with fewer than ten eligible employees at the close of the preceding calendar year; and (2) any employer who has conducted a referendum of eligible employees the results of which indicate that the number desiring a payroll deduction plan is less than the greater of ten percent of the number of such employees or ten. Imposes civil penalties for failure to maintain such a plan or deduct wages in accordance with an election. Title V: Amendments Relating to Single-Employer Plans - Subtitle A: Amendments to Title IV of the Employee Retirement Income Security Act of 1974 - Amends ERISA, with respect to plan termination insurance, to exempt from premium payment requirements any single-employer plan with fewer than 35 participants. Directs the Pension Benefit Guaranty Corporation (Corporation) to: (1) conduct studies, at least once every five years, to determine the premiums needed to maintain basic-benefit guarantee levels for multiemployer and single-employer plans and whether such levels may be increased without increasing the basic-benefit premium for the plans; (2) report such findings to the House Ways and Means and Education and Labor Committees and the Senate Finance and Labor and Human Resources Committees; and (3) transmit to such committees, if a premium increase is necessary or if basic-benefit guarantees may be increased, appropriate revised schedules. Excludes from guaranteed benefits any benefits provided by a plan which become effective or any increase in benefits effected by a plan amendment occurring after the initiation of bankruptcy proceedings by or against the contributing sponsor or other actions are taken for the benefit of such sponsor's creditors. Defines "contributing sponsor" as a trade or business with employees who are retaining or earning credited service under a plan and which is contributing to the plan. Revises procedures for termination of single-employer plans. Provides for the appointment of a trustee of such a plan upon the occurrence of an insurable event. Defines "insurable event" to mean that: (1) there is a liquidation of every contributing sponsor of the plan; (2) the Corporation determines that because of any partial liquidation, it becomes necessary to protect its own interests; or (3) a U.S. district court has determined, upon application of the Corporation, that the appointment of a trustee is necessitated by the financial condition of the plan. Sets forth conditions for the appointment of, and rights and powers of, a trustee of a plan. Confers on U.S. district courts jurisdiction to stay certain proceedings with respect to the property of a plan. Revises the requirements regarding reportable events. Limits the payment of benefits attributable to employer contributions, in the event that bankruptcy proceedings by or against the contributing sponsor are initiated or other actions are taken for the benefit of such sponsor's creditors, to payment in the form of an annuity. Specifies exceptions to such limitation. Prohibits plan assets, in such event, from being used to purchase annuities other than those subject to allocation. Requires notification to the Corporation by any person who knows or has reason to know of the occurrence or initiation of bankruptcy proceedings, other actions taken for the benefit of the contributing sponsor's creditors, or specified other steps taken to satisfy past due creditors' obligations. Revises provisions regarding liabilities to the Corporation and withdrawal liability to multiple-employer plans. Defines "multiple-employer plan" as a single-employer plan maintained by at least two trades or businesses which are not under common control. Sets forth rules for determining liability of prior contributing sponsors and trades or businesses which are members of a control group of which a prior contributing sponsor was a member. Revises plan termination insurance requirements with respect to the filing of annual reports. Treats as a trade or business, for purposes of the rules regarding liabilities of contributing sponsors and employers, any trade or business which ceases to exist by reason of certain corporate reoganizations. Makes jointly and severally liable, for purposes of such rules, any trade or business which transferred its assets and any person to whom such assets are transferred, where a purpose of the transfer was evasion of liability. Modifies the procedure for the enforcement of claims of liability to the Corporation. Treats unpaid distribution contributions to a single-employer plan accruing before the commencement of bankruptcy proceedings with respect to a contributing sponsor as arising from service rendered and contributions accruing during such proceedings as administrative expenses if an insurable event occurs in the course of the proceedings. Specifies that if no insurable event occurs in the course of such proceedings, the contributing sponsor's obligation for payment of contributions shall be the same as that imposed under an assumed executory contract. Treats as ineffective, upon the occurrence of an insurable event with respect to a single-employer plan, a waiver of minimum funding requirements. Subtitle B: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to revise the definition of "accumulated funding deficiency," for purposes of determining whether a plan meets the minimum funding standard, as applied to insolvent plans (other than multiemployer plans). Adds a charge to the funding standard account. Sets forth special rules for the charging and crediting of a funding standard account for any plan year ending after the termination of a single-employer plan for specified reasons. Permits a plan sponsor, for any plan year of a plan other than a multiemployer plan, to determine the ability of the plan to pay benefits when due for the next three plan years if plan assets are less than three times the benefit payments. Deems such plans as insolvent if it is reasonably likely that the plan's available resources will be insufficient to pay benefits when due in any of the next three plan years. Requires such insolvent plans to make contributions equal to the amount necessary for the plan year to pay benefits when due. Treats as deductible contributions of an employer to a plan any amount paid by an employer to a terminated single-employer plan. Revises the definition of "employer," for purposes of such deduction, minimum funding standards, and the excise tax imposed for failure to meet such standards, to include a person other than the contributing sponsor who agrees to make contributions to a plan which preclude the occurrence of an insurable event. Subtitle C: Amendments to Title I of the Employee Retirement Income Security Act of 1974 - Amends ERISA to require the filing of terminal reports by terminated pension plans. Makes conforming changes in accordance with the amendments in Subtitle B of this title.
United States · United States Congress · 30 July 1981
Retirement Income Incentives and Administrative Simplification Act of 1981 - Title I: Employee Benefit Administration - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to direct the President to establish, by the beginning of the second calendar year after enactment of this Act, the Employee Benefit Administration as an independent agency within the executive branch to be headed by a three member Board of Directors. Provides for the appointment as Board members: (1) "special liaison officers to the Administration" whose positions are established within the Offices of the Secretary of Labor and the Secretary of the Treasury; and (2) an Executive Director appointed by the President. Vests in the Board all functions relating to the qualification of employee benefit plans under the Internal Revenue Code. Transfers to the Board the responsibilities for administration and enforcement of: (1) the Welfare and Pension Disclosure Act; (2) Internal Revenue Code provisions relating to tax-qualified deferred compensation plans and certain other employee benefit plans; and (3) ERISA. Directs the President to transfer to the Board additional functions of any Federal agency as are deemed necessary to consolidate in the Administration all administrative and related functions regarding employee benefit plans. Directs the Board to promulgate regulations providing for the consolidation of all reports regarding employee benefit plans and governmental plans required under ERISA or the Internal Revenue Code. Sets forth the duties and responsibilities of the Board, the Secretary of the Treasury, and other Federal agencies with respect to the coordination of functions under ERISA and the Internal Revenue Code. Authorizes appropriations to the Administration for purposes of carrying out its functions. Transfers the Joint Board for the Enrollment of Actuaries (redesignated as the "Actuary Enrollment Board") to the Administration. Removes the Pension Benefit Guaranty Corporation from the Department of Labor and replaces its board of directors with that of the Administration. Title II: Deduction by Certain Employees and Their Spouses for Contributions to Retirement Plans - Amends the Internal Revenue Code to allow employees who are participants in tax- qualified employer retirement plans an income tax deduction for contributions to such plans or to individual retirement plans. Limits the amount of such deduction to the amount by which the employee's compensation for the taxable year or $2,000, whichever is less, exceeds the sum of amounts contributed by the employer for an annuity contract and any amount of employment tax which would be paid if the employee were subject to the employment tax. Increases from 70 1/2 years to 75 years: (1) the age by which an individual for whom an individual retirement account is created must receive the distributions from the account; and (2) the age of limitation for purposes of the bearing of interest on or the redemption of retirement bonds. Title III: Amendments to the Employee Retirement Income Security Act of 1974 - Subtitle A: Amendments to Definitions - Amends ERISA to specify supplemental retirement income arrangements which are to be considered welfare plans rather than pension plans. Authorizes the Secretary of Labor to exempt by regulation any severance pay or supplemental income arrangement from provisions applicable to welfare plans and to provide alternative methods of compliance with any such provision. Conforms the definitions of "party in interest" and "governmental plan" with the Internal Revenue Code. Revises the definitions of "normal retirement age" and "relative." Subtitle B: Amendments to Reporting and Disclosure Provisions - Eliminates requirements regarding the filing of a plan description with the Secretary of Labor. Requires, rather than allows, qualified public accountants and actuaries to rely on the correctness of actuarial or accounting matters certified to by an enrolled actuary or with respect to which a qualified public accountant has expressed an opinion, respectively, for purposes of the preparation of annual reports. Allows a pension plan which is held in a trust consisting of the assets of two or more participating plans which are maintained by a single employer (or by two or more employers all of whom are members of the same controlled group) to elect to include in its annual report certain information regarding all of the assets of the trust in lieu of the information currently required to be reported by a plan. Eliminates the requirement that the present value of certain plan liabilities be included in the actuarial statement. Revises requirements regarding simplified annual reports for pension plans with less than 100 participants. Requires the distribution of updated summary plan descriptions every tenth year, rather than every fifth year, after the plan becomes subject to the reporting and disclosure requirements. Modifies the requirement that a plan administrator furnish to a participant or benficiary a copy of certain financial statements to direct the administrator to post such statement at principal work sites together with a statement of the right of employee participants to receive copies of the latest annual report and summary plan description. Directs the Secretary of Labor to provide for alternative means by which such information may be communicated to participants. Limits to ten dollars the charge for a complete copy of the latest annual report or other instrument under which a plan is established or operated. Specifies information required to be provided by an applicant for an advance determination by the Secretary of the Treasury that a plan is a tax-qualified deferred compensation plan. Revises requirements regarding the disclosure to a participant or beneficiary of benefit rights and account information. Directs administrators to issue reports to certain plan participants who have separated from service stating the nature, amount, and form of the deferred vested benefit to which they are entitled. Requires employers to maintain records regarding each employee sufficient to determine the benefits due to the employee. Prohibits public access to pension report information in computer-compatible form until a statement has been filed with the Secretary of Labor by the recipient of the information which provides assurances that the information will not be used for commercial purposes. Requires, rather than allows, the Secretary to prescribe an alternative method of compliance with reporting requirements under certain circumstances. Specifies circumstances in which the administrator of a multiemployer plan may use an alternative method of information distribution. Subtitle C: Amendments to Participation and Vesting Provisions - Permits the determination of pension plan eligibility on a plan year basis. Modifies provisions regarding the suspension of benefit payments by multiemployer plans, where the employee is employed in the same industry, trade or craft, and geographic area covered by the plan, to permit the term "employed" to include self-employment and work on an irregular basis. Specifies that the notification and election requirement triggered by a change in vesting schedules shall be applicable only to employees who would be adversely affected by the change. Makes 125 days of service in any maritime industry equivalent to 1,000 hours of service for purposes of satisfying benefit accrual requirements. Allows a multiemployer plan to provide that a participant's accrued benefit upon separation is the sum of the different rates of benefit accrual for different periods of participation as defined by one or more fixed calendar dates or by employment in different bargaining units. Specifies that the normal retirement benefit, for purposes of computing the minimum accrued benefit to which a participant is entitled upon separation, shall be a projected normal retirement benefit. Requires a plan offering an optional benefit form, in order not to be treated as having altered a participant's accrued benefit by reason of a change in actuarial assumptions, to set forth such assumptions in a separate document. Requires plans in which a majority of employees are seasonal employees to use 500 hours, rather than 1000 hours, for purposes of defining a year of service. Permits a period of service, in the case of a multiemployer plan, to qualify as a year of participation although a plan makes allowance for delinquent employer contributions. Revises joint and survivor annuity requirements. Allows the assignment of pension plan benefits pursuant to a specific State court decree of divorce, annulment, legal separation, or family support or a court order relating to marital property rights. Prescribes notification requirements with respect to any such assignment. Directs the Secretary of the Treasury to prescribe methods of measuring service based upon the elapsed time of an employee's service. Subtitle D: Amendments to Funding Provisions - Makes certain revisions with respect to funding, including a requirement that changes in funding method or plan year need be approved only when made more than once in a three-year period, and a requirement that a funding method take into account future benefit changes. Subtitle E: Amendments to Fiduciary Responsibility Provisions - Excludes from the assets of a plan any assets of an insurer which fund the plan and which are not held in separate accounts, other than a contract or policy of insurance issued to the plan, solely by reason of such issuance. Revises provisions regarding the designation and responsibilities of fiduciaries. Permits the return to an employer of an overpayment of withdrawal liability: (1) in the case of a multiemployer plan; and (2) in the case of a multiemployer plan maintained pursuant to collective bargaining agreements where it is determined that a contribution was made by a mistake of fact or law. Relieves co-fiduciaries to whom a specific duty has not been allocated from liability for an act or omission by a named fiduciary to whom the duty has been allocated. Revises the provisions regarding prohibited transactions by a fiduciary. Revises the definition of "qualifying employer real property" for purposes of the limitation on the acquisition and holding of real property by a plan. Modifies the coverage of the exemption from prohibited transactions effected by the Internal Revenue Code provision which taxes such transactions. Exempts from such prohibitions: (1) certain loans made by a defined contribution plan to a party in interest who is a substantial employer maintaining the plan; and (2) certain leases of personal property between such parties. Conforms certain provisions regarding transactions by parties in interest with provisions of the Internal Revenue Code. Extends the prohibited transaction exemption procedure to owner-employees. Excludes from the assets of a plan, for purposes of the prohibited transactions provision and the limitation on the acquisition and holding of employer securities and employer real property, assets in a pooled separate account of an insurer or in a collective investment fund of a bank supervised by the United States or a State. Allows an exclusion, for purposes of such limitation, if the insurer or bank provides a written assurance that the separate account or trust may not acquire any employer securities or employer real property issued by or leased to any employer or affiliate where the aggregate value of such property after such acquisition would exceed ten percent of the fair market value of the assets of the separate account or trust. Permits indemnification by a plan against expenses or liability for losses incurred in connection with any administrative or judicial civil action or proceeding, subject to a determination that the fiduciary has acted in good faith. Subtitle F: Amendments to Administration and Enforcement Provisions - Creates a civil cause of action for collection by a fiduciary of a multiemployer plan of delinquent employer contributions, subject to a six-year statute of limitations (three years after the date of actual knowledge of the cause of action). Makes available to the Department of Labor for purposes of administering ERISA any amounts which become available through the public request of information. Revises the composition of the Advisory Council on Employee Welfare and Pension Benefit Plans to require that one of the employer members be a representative of employers maintaining small plans. Directs the Secretary of Labor to publish at least annually reports showing the number of plans and participants; amounts of assets, income, and expenses; and certain other information categorized by plan size and type. Deems as preempted by ERISA certain provisions of State law: (1) regarding benefits provided by an insurance policy issued to an employee benefit plan; and (2) which treat a participant's interest in a plan as a security or similar right. Deems as not preempted by ERISA certain provisions of State law: (1) which require an insurance policy issued to a plan to permit a participant to convert or continue protection after the termination of the insurance coverage under the plan; and (2) which prohibit such an insurance policy from classifying health care services as ineligible for coverage solely because the provider is licensed as a provider of services other than those rendered by a medical doctor. Specifies that a participant's interest in a plan covered by ERISA shall not be considered a security or similar right for purposes of the Acts administered by the Securities and Exchange Commission. Subtitle G: Clarifying and Technical Amendments - Makes certain technical changes and corrections. Subtitle H: Reports - Directs the Secretaries of Labor and the Treasury to conduct jointly detailed studies of means by which: (1) administrative burdens of ERISA reporting requirements may be reduced; and (2) certain businesses and banking institutions may be enabled to develop master and prototype pension plans. Title IV: Amendments to the Internal Revenue Code of 1954 - Subtitle A: Amendments Related to Title III Amendments - Amends the Internal Revenue Code to make conforming changes in accordance with the provisions of title III of this Act. Subtitle B: Miscellaneous Amendments - Includes in the number of calendar years of active participation in a plan, for purposes of capital gains tax treatment of a portion of a lump sum distribution, active participation in another plan maintained by a predecessor employer or by a member of the same controlled group if the participant's employment was continuous between participation in both such plans. Includes such participation in the minimum period of service required for imposition of the separate tax on lump sum distributions. Revises the rule regarding aggregation of certain trusts and plans for purposes of determining the balance to the credit of an employee which becomes payable to the recipient. Deems a separation from service to have occurred, for purposes of the definition of "lump sum distribution," if an employee has not worked in service covered by the plan for six consecutive months following severance of the employment relationship. Subjects target benefit plans to the limitations on benefits and contributions imposed on defined benefit plans. Permits the rollover into individual retirement accounts or retirement bonds of employee contributions used in calculating rollover amounts for purposes of the taxability of the beneficiary of an employees' trust. Treates such contributions as a source of a rollover amount paid or distributed out of an individual retirement account or annuity or transferred from retirement bonds. Excludes from "acquisition indebtedness," for purposes of computing unrelated business taxable income, certain indebtedness to an insurer incurred by a tax-qualified deferred compensation plan. Provides an actuarial adjustment of the average compensation limit on benefits and contributions imposed on defined benefit plans in the case of a participant whose service continues beyond normal retirement age. Reduces from ten years to five years the period for amortization of past service or other supplementary pension or annuity credits for purposes of determining the amount contributed to pension trusts which is deductible. Increases from $7,500 to $15,000 the deductible amount of such contributions on behalf of self-employed individuals. Specifies conditions under which a plan will be deemed not to have engaged in prohibited discrimination. Permits certain plans to be considered non-discriminatory which meet specified benefit- compensation ratio requirements and: (1) exclude employees whose remuneration consists wholly of "wages" (as defined by the Federal Insurance Contributions Act); or (2) the contributions to or benefits from which based on remuneration not deemed "wages" differ from the contributions or benefits based on wages or differ because of retirement benefits created under State or Federal law. Title V: Individual Retirement Payroll Deduction Plans for Employees Not Covered by Pension Plans - Amends ERISA to create a new title V, "Individual Retirement Payroll Deduction Plans for Employees Not Covered by Pension Plans," which requires a covered employer to maintain a plan under which eligible employees (those ineligible for coverage under certain pension or retirement plans) may elect to have payroll deductions applied to an individual retirement account or annuity or a retirement bond. Defines "covered employer" as a person engaged in an industry affecting commerce who: (1) had at least 20 employees for each working day in each of at least 20 calendar weeks during the year; and (2) has been engaged in such industry throughout the preceding five-year period. Exempts from such requirement: (1) any covered employer with fewer than ten eligible employees at the close of the preceding calendar year; and (2) any employer who has conducted a referendum of eligible employees the results of which indicate that the number desiring a payroll deduction plan is less than the greater of ten percent of the number of such employees or ten. Imposes civil penalties for failure to maintain such a plan or deduct wages in accordance with an election. Title VI: Amendments Relating to Single-Employer Plans - Subtitle A: Amendments to Title IV of the Employee Retirement Income Security Act of 1974 - Amends ERISA, with respect to plan termination insurance, to exempt from premium payment requirements any single-employer plan with fewer than 35 participants. Directs the Pension Benefit Guaranty Corporation (Corporation) to: (1) conduct studies, at least once every five years, to determine the premiums needed to maintain basic-benefit guarantee levels for multiemployer and single-employer plans and whether such levels may be increased without increasing the basic-benefit premium for the plans; (2) report such findings to the House Ways and Means and Education and Labor Committees and the Senate Finance and Labor and Human Resources Committees; and (3) transmit to such committees, if a premium increase is necessary or if basic-benefit guarantees may be increased, appropriate revised schedules. Excludes from guaranteed benefits any benefits provided by a plan which become effective or any increase in benefits effected by a plan amendment occurring after the initiation of bankruptcy proceedings by or against the contributing sponsor or other actions are taken for the benefit of such sponsor's creditors. Defines "contributing sponsor" as a trade or business with employees who are retaining or earning credited service under a plan and which is contributing to the plan. Revises procedures for termination of single-employer plans. Provides for the appointment of a trustee of such a plan upon the occurrence of an insurable event. Defines "insurable event" to mean that: (1) there is a liquidation of every contributing sponsor of the plan; (2) the Corporation determines that because of any partial liquidation, it becomes necessary to protect its own interests; or (3) a U.S. district court has determined, upon application of the Corporation, that the appointment of a trustee is necessitated by the financial condition of the plan. Sets forth conditions for the appointment of, and rights and powers of a trustee of a plan. Confers on U.S. district courts jurisdiction to stay certain proceedings with respect to the property of a plan. Revises the requirements regarding reportable events. Limits the payment of benefits attributable to employer contributions, in the event that bankruptcy proceedings by or against the contributing sponsor are initiated or other actions are taken for the benefit of such sponsor's creditors, to payment in the form of an annuity. Specifies exceptions to such limitation. Prohibits plan assets, in such event, from being used to purchase annuities other than those subject to allocation. Requires notification to the Corporation by any person who knows or has reason to know of the occurrence of initiation of bankruptcy proceedings, other actions taken for the benefit of the contributing sponsor's creditors, or specified other steps taken to satisfy past due creditors' obligations. Revises provisions regarding liabilities to the Corporation and withdrawal liability to multiple-employer plans. Defines "multiple-employer plan" as a single-employer plan maintained by at least two trades or businesses which are not under common control. Sets forth rules for determining liability of prior contributing sponsors and trades or businesses which are members of a control group of which a prior contributing sponsor was a member. Revises plan termination insurance requirements with respect to the filing of annual reports. Treats as a trade or business, for the purposes of the rules regarding liabilities of contributing sponsors and employers, any trade or business which ceases to exist by reason of certain corporate reorganizations. Makes jointly and severally liable, for purposes of such rules, any trade or business which transferred its assets and any person to whom such assets are transferred, where a purpose of the transfer was evasion of liability. Modifies the procedure for the enforcement of claims of liability to the Corporation. Treats unpaid distribution contributions to a single-employer plan accruing before the commencement of bankruptcy proceedings with respect to a contributing sponsor as arising from service rendered and contributions accruing during such proceeds as administrative expenses if an insurable event occurs in the course of the proceedings. Specifies that if no insurable event occurs in the course of such proceedings, the contributing sponsor's obligation for payment of contributions shall be the same as that imposed under an assumed executory contract. Treats as ineffective, upon the occurrence of an insurable event with respect to a single-employer plan, a waiver of minimum funding requirements. Subtitle B: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to revise the definition of "accumulated funding deficiency," for purposes of determining whether a plan meets the minimum funding standard, as applied to insolvent plans (other than multiemployer plans). Adds a charge to the funding standard account. Sets forth special rules for the charging and crediting of a funding standard account for any plan year ending after the termination of a single-employer plan for specified reasons. Permits a plan sponsor, for any plan year of a plan other than a multiemployer plan, to determine the ability of the plan to pay benefits when due for the next three plan years if plan assets are less than three times the benefit payments. Deems such plans as insolvent if it is reasonably likely that the plan's available resources will be insufficient to pay benefits when due in any of the next three plan years. Requires such insolvent plans to make contributions equal to the amount necessary for the plan year to pay benefits when due. Treats as deductible contributions of an employer to a plan any amount paid by an employer to a terminated single-employer plan. Revises the definition of "employer," for purposes of such deduction, minimum funding standards, and the excise tax imposed for failure to meet such standards, to include a person other than the contributing sponsor who agrees to make contributions to a plan which preclude the occurrence of an insurable event. Subtitle C: Amendments to Title I of the Employee Retirement Income Security Act of 1974 - Amends ERISA to require the filing of terminal reports by terminated pension plans. Makes conforming changes in accordance with the amendments in Subtitle B of this title.
United States · United States Congress · 28 July 1981
Petroleum Disruption Management Act of 1981 - Title I: Sequential Management Authority and Activation - Directs the President to prescribe four petroleum disruption management programs and transmit them to Congress for approval: (1) a Strategic Petroleum Reserve distribution program; (2) a private dedicated reserve program (PDR); (3) a national crude oil sharing program; and (4) a petroleum product disruption management program. Prohibits approval of a program unless each House of Congress, within 30 days of transmittal of a program, passes a resolution approving the program. Requires the President to submit a revised program if any program is not approved. Provides for the activation of a program whenever the President determines that a substantial or severe crude oil or energy supply disruption or interruption exists or is imminent, or a program is necessary in order to comply with the international energy program, and an approving joint resolution is passed within six days of transmittal. Limits such programs to 120 days duration, except the President may request additional 120 day periods. Title II: Private Crude Oil and Petroleum Product Storage Incentives - Directs the President to report on the advisability and alternative means of: (1) reducing the tax liability of persons who draw down crude oil and petroleum product reserves during oil supply disruptions; and (2) providing tax or other incentives for the construction of private-sector oil and petroleum product storage facilities and the maintenance of increased private-sector crude oil or petroleum product reserves. Title III: Strategic Petroleum Reserve and Private Dedicated Reserve Distribution - Authorizes the President to distribute crude oil from the Strategic Petroleum Reserve, upon a determination that a substantial crude oil disruption exists, in amounts not in excess of 300,000 barrels daily for no more than 90 days annually. Provides for such distributions on a pro rata basis. Amends the Energy Policy and Conservation Act to prohibit the Strategic Petroleum Reserve Plan from becoming effective unless each House of Congress passes a resolution approving the Plan within 30 days of the Plan's transmittal to Congress. Requires that during a substantial crude oil disruption allocation shall be as provided for in this Act. Requires the Secretary of Energy to submit to Congress a report evaluating the expansion of the physical capacity of the Reserve through the use of temporary storage facilities. Directs the President to promulgate a rule establishing a PDR. Requires the rule establishing the PDR to, among other things: (1) provide for the equitable distribution of crude oil at competitive prices; (2) require designated refiners to provide crude oil to any qualified refiner experiencing a supply disruption; (3) distribute crude oil to such qualified refiners to permit them to operate at 95 percent of the national utilization rate; (4) provide that the obligation of each designated refiner to sell crude oil to qualified refiners shall be a given percentage of each designated refiner's average crude oil runs to distillation units during the previous 12 months; and (5) provide that the price paid by a qualified refiner will not exceed a stated level. Directs the Secretary to submit to Congress a report determining the minimum volume of reserves to be maintained in the Strategic Petroleum Reserve and analyzing the advisability of distributing crude oil from the Reserve in lieu of activating the PDR. Title IV: National Crude Oil Sharing Program - Directs the President to promulgate a rule establishing a national crude oil sharing program. Requires the rule establishing such program to: (1) provide for the equitable sharing of crude oil at competitive prices among all regions during a severe disruption; (2) require refiners to offer for sale any crude oil supplies that would permit their refineries to operate in excess of the national utilization rate; (3) assure that refiners are able to purchase sufficient crude oil to permit operation at the national utilization rate; (4) provide that the price paid by a refiner will not exceed the weight-averaged price during the previous 60 day period; (5) provide for directives requiring a refiner to adjust the percentage yield of a refined petroleum product in order to increase output of that product in a time of short supply; and (6) provide for the adjustment of the quantities of crude oil allocated among refiners so as to ensure desired production levels. Title V: Petroleum Product Programs - Directs the President to promulgate a standby regulation which when implemented will provide: (1) for the mandatory allocation of refined petroleum products produced in or imported into the country in amounts specified in and at ceiling prices specified in such regulation; (2) an emergency use fee; or (3) other action specified in such regulation which is not otherwise specially authorized by other Federal law. Requires the standby regulation to provide for, among other things: (1) the protection of public health, safety and welfare (including maintenance of residential heating), and national defense; (2) maintenance of all public services; (3) maintenance of agricultural operations; (4) preservation of an economically sound and competitive petroleum industry; (5) equitable distribution of refined petroleum products at equitable prices; (6) allocation of refined petroleum products necessary to explore for and extract fuels and minerals; (7) economic efficiency; and (8) minimization of economic distortion. Title VI: Establishment of Advisory Data Collection and Coordination Functions - Directs the President to establish: (1) an Energy Emergency Council to be composed of members of the executive branch, to advise the President on matters relevant to the implementation of this Act and the activation and management of its programs; and (2) an Energy Advisory Committee, to consist of members of the petroleum industry and consumers, to advise the President and the Council on matters relevant to the implementation of this Act and the management and activation of its programs. Directs the Council, after consultation with the Committee, to evaluate the current energy information collection and monitoring systems within the Federal Government. Directs the Secretary to inform the Administrator of the Energy Information Administration whether the energy information now being collected is sufficient, whether changes are needed, and if so, to direct the Administrator to make the necessary changes. Directs the Secretary to submit to Congress a report examining the standards for activation of the programs. Title VII: Miscellaneous Provisions - Sets forth provisions relating to administration and enforcement, including: (1) application of provisions of the Economic Stabilization Act of 1970 to regulations, orders, and Presidential actions undertaken pursuant to this Act; and (2) setting forth monetary penalties for violations of this Act. Amends the Department of Energy Organization Act to include this Act within those Acts for which the Secretary shall provide for making adjustments to any rule, regulation or order in order to prevent special hardship or inequity. Extends, until October 1, 1989, the authority for international voluntary agreements with respect to the International Energy Program under the Energy Policy and Conservation Act. Terminates this Act on October 1, 1989.
United States · United States Congress · 21 July 1981
Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to eliminate the three day prior hospitalization requirement for coverage of extended care services.
United States · United States Congress · 17 July 1981
Directs the Secretary of Agriculture to sell the agricultural commodities which the Department of Agriculture bought because of the 1980 trade embargo against the Soviet Union. Sets forth the manner of making such sales. Requires using the sales proceeds to capitalize the Agricultural Export Credit Revolving Fund. Amends the Food for Peace Act of 1967 to establish the Fund in the U.S. Treasury. Authorizes the Commodity Credit Corporation to use the Fund to finance: (1) certain export sales of agricultural commodities; (2) export sales of breeding animals; and (3) facilities in importing countries to handle U.S. agricultural exports. Limits the Corporation's use of the Fund to extending credit to develop markets where there is a substantial potential for regular commercial markets for U.S. agricultural commodities. Directs the Secretary to ensure the equitable use of the Fund to finance sales to the greatest feasible number of countries. Adds to the Fund certain payments received by the Corporation. Directs the Secretary to report annually to Congress on the Corporation's use of the Fund to carry out export credit sales. Terminates the Fund on October 1, 1985.
United States · United States Congress · 9 July 1981
Amends the Federal Plant Pest Act to authorize the Secretary of Agriculture to take emergency measures against plant pests if State action is inadequate. Authorizes intrastate inspections without warrants by Department of Agriculture personnel.
United States · United States Congress · 26 June 1981
Interstate Compact - Grants the consent of the Congress to the agreement between the States of Kansas and Missouri which establishes their mutual boundary in the vicinity of the area known as the French Bottoms.
United States · United States Congress · 25 June 1981
Food Safety Amendments of 1981 - Title I - Amends the Federal Food, Drug, and Cosmetic Act to revise the procedures and criteria for consideration of food and color additive petitions and new animal drug applications. Excludes from the definition of "food additive": (1) a food contact substance; and (2) a basic or traditional food. Defines "food contact substance" to mean a substance used to package food upon which such substance is not intended to, and does not have, any physical effect. Revises the general definition of "safe" to include in its meaning the absence of significant risk under the intended conditions of use of a substance. Authorizes the Secretary of Health and Human Services to prescribe regulations to gradually eliminate a substance from the food supply upon a finding that such elimination will serve the public interest and not present a danger to public health. Requires that a determination of whether food is adulterated be based on an assessment of the risks from the probable consumption of such substance, taking into account all pertinent safety factors. Revises the procedures under which the Food and Drug Administration (FDA) establishes tolerance levels for required or unavoidable substances in foods. Replaces the current formal hearing requirements for setting tolerances with the notice and comment rulemaking procedure. Adds to the criteria for establishing tolerances: (1) an assessment of the nature and extent of the risks from probable consumption of the substance, considering all safety factors and after consultation with the food safety committee (established by this Act); and (2) the effects of limits on the cost and availability of food. Requires the Secretary to specify the analytical procedure for determining tolerance compliance. Permits any party in an injunction, seizure, or criminal action by the FDA alleging food adulteration, to request the court to set a tolerance for any food for which there is no existing tolerance. Revises the procedures and criteria for consideration of food additive petitions. Directs the Secretary to establish procedures to facilitate early discussion of an additive prior to submission of a petition. Requires the FDA to file food additive petitions within 30 days after receipt. Requires the FDA to specify in detail its reasons expanded for denying a petition. Directs the Secretary to permit interim use of an already approved additive if it appears from initial review that such expanded use is safe. Directs the Secretary to base a determination of the safety of a food additive on all relevant factors, including risk assessment. Provides an exception to the "Delaney clause" (which deems as unsafe any additive which induces cancer when ingested by man or animal) upon a finding that use of the additive does not present a significant risk to health. Requires the Secretary, whenver an additive is limited on the basis that it induces cancer in man or animal, to refer such matter to the food safety committee and permit interested persons to provide information. Enumerates additional criteria for considering a food additive which has been identified as presenting a significant risk, but has a substantial history of use and no reasonably practicable substitute. Includes among such factors the nature and extent of the consequences of use and the feasibility and effect of providing information to consumers regarding the additive's risk. Provides for expedited judicial review of any failure by the FDA to meet the time limits for food additive determinations or to provide detailed reasons for denial of a petition. Authorizes the Secretary to issue an interim food additive regulation with respect to a substance the safety of which has been questioned by new, but inconclusive, information, upon a determination that there is a reasonable certainty that such substance is not harmful. Applies the new procedures for amending or repealing a food additive regulation to any action to limit a substance which is generally recognized as safe. Establishes a new simplified premarket notification system for food contact substances. Provides that a food contact substance shall be deemed unsafe unless: (1) it is not reasonably expected to become a component of food under its intended use; (2) it conforms to a regulation; or (3) a premarket notification has been registered with the FDA and the FDA fails to make a finding of significant risk to public health within 90 days. Subjects any such finding to judicial review. Permits a person to petition the Secretary for promulgation of a regulation in lieu of premarket notification. Directs the Secretary, for the purpose of receiving referrals respecting the safety of food substances, to request the National Academy of Sciences, the Federation of American Societies for Experimental Biology, or other independent entity having such scientific expertise, to establish a committee to study and report on the safety of food substances. Provides a procedure and the criteria for the Secretary to establish an advisory food safety committee in the event such entities decline to establish such committee. Authorizes any person who may be adversely affected by a Secretarial decision to request the Secretary to consult such a committee before he makes a final decision on the use of any food substance, food additive, new animal drug, or color additive. Establishes for new animal drugs and color additives a regulatory scheme similar to that set forth for food additives. Includes as a factor to be considered with respect to animal drugs the present commercial availability of approved alternatives. Eliminates the current requirement for individual product licenses for animal drug manufacturers. Establishes a one-time location registration of establishments at which a new animal drug is to be first mixed into animal feed. Repeals the animal drug provision requiring batch certification of five specific antibiotics. Title II - Amends the Poultry Products Inspection Act, the Meat Inspection Act, and the Egg Products Inspection Act to conform to provisions of this Act. Title III - Requires persons who have filed food or color additive petitions or new animal drug applications which were filed prior to enactment to elect consideration in accordance with existing law or law as amended by this Act. Provides that enforcement proceedings based on acts occurring prior to enactment shall proceed under prior law.
United States · United States Congress · 25 June 1981
Directs the Secretary of the Treasury to pay a specified sum to a named individual in full satisfaction of a claim against the United States arising out of negligent medical care administered at a Veterans Administration hospital.-
United States · United States Congress · 22 June 1981
Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by a person engaged in the business of operating a farm produce storage facility, within specified time limits, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act. Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property. Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party. Grants to any farmer who, having delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment, a lien against products of like products in the licensed facility in excess of that required to satisfy receipted or other storage obligations, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied.
United States · United States Congress · 17 June 1981
Education Consolidation and Improvement Act of 1981 - Expresses the sense of Congress, with respect to the education of handicapped children, that: (1) the Education of All Handicapped Children Act needs to be amended in the light of limited financial resources and questions of administration and application; and (2) it would not be advisable at this time to consolidate funds for the education of disadvantaged children. Declares that the national interest in the education of handicapped children would be best served by the establishment of a national commission to study the operation of the Education of All Handicapped Children Act and to advise the President, the Secretary of Education, and the Congress on appropriate amendments to or restructuring of such Act by January 15, 1982. Title I: Financial Assistance to Meet Special Educational Needs of Children - Declares it to be the policy of the United States to continue to provide financial assistance to State and local educational agencies to meet the special needs of educationally deprived children, on the basis of entitlements calculated under title I of the Elementary and Secondary Education Act of 1965 (ESEA), in a manner which will eliminate burdensome and unproductive paperwork and free the schools of Federal supervision. Directs the Secretary of Education, during fiscal years 1983 through 1987, to make payments to State educational agencies for grants made on the basis of entitlements created under title I of ESEA and calculated in accordance with provisions of such title in effect on September 30, 1982. Directs the Secretary, in making such payments, to continue to utilize specified provisions of title I of such Act, with the exception of provisions relating to local program requirements and applications and to State and Federal administration of programs and projects. Requires that State and local educational agencies use such payments for programs and projects (including the acquisition of equipment and the construction of school facilities) designed to meet the special educational needs of educationally deprived children. Requires that State agency programs be designed to serve those categories of children (migratory, handicapped, neglected and delinquent) counted for eligibility for grants under specified ESEA provisions in accordance with the requirements of this title. Requires that local educational agencies use ESEA funds received under this title only for programs and projects: (1) designed to meet the special educational needs of educationally deprived children identified in accordance with specified provisions of this title; and (2) included in an application for assistance approved by the State educational agency and containing specified assurances concerning such programs and projects. Provides for the participation of children enrolled in private schools in special educational services and arrangements. Provides for appeals by State and local educational agencies of determinations by the Secretary that a local educational agency has substantially failed to provide for such participation on an equitable basis and that an alternative provider of such services should be sought. Sets forth requirements relating to: (1) maintenance of effort; (2) use of funds limited to excess costs; (3) Federal funds to supplement, not supplant regular non-Federal funds; (4) comparability of services (and written assurances thereof by local agencies); (5) exclusion of special State and local program funds; and (6) allocation of funds in certain States. Title II: Consolidation of Federal Programs for Elementary and Secondary Education - Declares it to be the purpose of this title: (1) to consolidate the program authorizations contained in titles II through IX of ESEA into a single authorization of grants to States for the same purposes set forth in such titles, but to be used in accordance with the educational needs and priorities of each State as determined by the State; and (2) to financially assist State and local educational agencies to improve elementary and secondary education (including preschool education) for public and private school children, in a manner which eliminates administrative and paperwork burdens on the schools. Vests basic responsibility for the administration of funds made available under this title in State educational agencies. Admonishes such agencies to discharge such responsibility in a manner which will not impose an unreasonable administrative burden. Declares the intent of Congress that the responsibility for the design and implementation of programs assisted under this title is mainly that of local boards of education, school superintendents and principals, classroom teachers, and supporting personnel. Authorizes appropriations for fiscal years 1983 through 1987. Sets forth provisions for allotments to States and for State grant applications. Requires that a State educational agency distribute at least 80 percent of the sums received as a State allotment to local educational agencies. Provides that such allocation be according to relative enrollments in public and nonpublic schools within the school districts of the local agencies, adjusted to provide higher per pupil allocations to agencies with the greatest numbers or percentages of children whose education imposes a higher average cost per child, such as children: (1) from low-income families; (2) of limited English proficiency; or (3) living in sparsely populated areas. Directs the Secretary to approve State agency criteria for such allocation adjustment if such criteria are reasonably calculated to produce an equitable distribution of funds. Sets forth requirements for local educational agency applications to receive such allocations. Requires that specified funds be used by State and local educational agencies to develop and implement a basic skills improvement program, as formerly authorized under title II of ESEA (Basic Skills Improvement). Authorizes State educational agencies to provide leadership and support for the basic skills improvement program. Sets forth requirements for school level basic skills improvement programs which local educational agencies must meet in applying for program funds. Authorizes State education agencies to carry out selected activities from among the full range of programs and projects formerly authorized under titles IV, V, VI, and VII of ESEA (Educational Improvement, Resources, and Support; State Leadership; Emergency School Aid; and Bilingual Education Programs) and titles III, VIII, and IX of ESEA (Special Projects; Community Schools; and Additional Programs for Gifted and Talented Children, Educational Proficiency Standards, and Women's Educational Equity), in accordance with requirements of this title, including a planned allocation of funds set forth in the State application. Sets forth authorized activities under such programs and projects. Sets forth requirements relating to: (1) maintenance of effort; (2) Federal funds being supplementary to, and not supplanting, non-Federal funds; and (3) participation of children enrolled in private schools. Authorizes the Secretary to use discretionary reserved funds for activities relating to the purposes of and programs under this Act, such as: (1) a national information source to assess program effectiveness and the needs of those served; (2) research and demonstrations; (3) teacher training improvement; and (4) implementation assistance for State and local educational agencies. Directs the Secretary to fund, from such discretionary reserved funds, the inexpensive book distribution program (Reading Is Fundamental), the special mathematics program, the national programs of arts in education, and the national diffusion network, as formerly authorized in specified provisions of ESEA, at least in amounts necessary to sustain these activities at the level of operations during fiscal year 1981, and then use the remainder of such funds for other authorized activities. Title III: General Provisions - Authorizes the Secretary to issue regulations relating to this Act: (1) on duties specifically assigned to the Secretary; (2) on proper fiscal accounting for appropriations and on the method of making payments authorized; and (3) which reasonably insure compliance with the specific requirements and assurances required. Prohibits the Secretary from issuing regulations on all other matters relating to the details of planning, developing, implementing, and evaluating State and local educational agency programs and projects. Permits the Secretary to consult with appropriate State, local, and private educational agencies and to provide, upon request, technical assistance, information, and suggested guidelines. Provides that regulations issued pursuant to this Act shall not have the standing of a Federal statute for the purposes of judicial review. Sets forth provisions for withholding of payments and for judicial review thereof. Provides that specified provisions of the General Education Provisions Act (relating to "State Educational Agency Monitoring and Agency Applications") shall not: (1) apply to programs authorized under this Act except to the extent that such provisions relate fiscal control and fund accounting procedures; and (2) be construed to authorize the Secretary to require any reports or take any actions not specifically authorized by this Act. Declares that the provisions of this Act shall take effect October 1, 1982. Repeals the Elementary and Secondary Education Act of 1965 (ESEA). Provides that funds appropriated in fiscal year 1982 pursuant to authorizations repealed by this Act and intended for use in the school year 1982 through 1983 shall be used in accordance with, and to carry out the purposes of, this Act.
United States · United States Congress · 11 June 1981
Family Enterprise Estate and Gift Tax Equity and Reduction Act - Amends the Internal Revenue Code to reduce the estate and gift tax rates. Increases the unified credit against the estate and gift taxes from $47,000 to $103,500 by specified annual increments through 1985. Increases from $175,000 to $600,000, by specified annual increments through 1985, the minimum gross estate requirement for filing of a return. Repeals the existing limitations on the marital deduction for gift and estate taxes. Permits an election by an executor to take into account a life estate which passes to a surviving spouse for purposes of determining the marital deduction. Includes amounts equal to the value of such interests in the estate of the surviving spouse for purposes of imposition of the estate tax. Increases from $3,000 to $10,000 the annual gift tax exclusion. Revises the definition of "qualified real property," for purposes of the special use valuation, to include: (1) real property which is put to a qualified use by a member of the decedent's family; (2) certain future interests; and (3) timber. Qualifies estates of decedents who were disabled or retired for the special use valuation if such decedents materially participated in the operation of the farm or business for five out of eight years preceding the year in which they became disabled or eligible for disability benefits, under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act. Permits the spouse of a decedent to use such valuation if the spouse has managed the farm or business for ten years preceding the decedent's death or takes over active management upon the decedent's death. Qualifies the owner of a woodland for the special use valuation if the owner or a member of the owner's family actively managed the property for ten years prior to the owner's death. Includes as property qualified for the valuation certain future and partial interests. Reduces from 15 to ten years the length of time a qualified property must be held and put to a qualified use following the decedent's death before it can be disposed of without incurring a recapture of estate tax benefits. Permits active management rather than material participation as a test for qualification of the estate for spouses, children under 21, students, and disabled individuals who receive property from a decedent who qualified for special use valuation. Modifies the formula for recapture upon partial disposition of qualified property to include in the calculation of the additional tax imposed the adjusted tax difference attributable to the property disposed of or ceased to be used for a qualified use. Repeals the $500,000 limitation on the aggregate decrease in the value of property to which the special use valuation is applied. Allows the like kind exchange of property without loss of special use valuation eligibility. Permits, for purposes of calculating the five-year period required for qualification of real property, the aggregation of periods with respect to exchange property with those with respect to property included in the gross estate. Repeals the requirement that an heir elect special treatment for involuntary conversions of qualified real property, thus making such treatment automatic upon such conversion. Applies the special use valuation provisions to: (1) property which passes to a trust all of the beneficiaries of which are members of the decedent's family without regard to whether any beneficiary has a present interest in the trust; and (2) property held by a trust in which the decedent has an interest which is includible in the decedent's estate and which passes to a qualified heir as though the decedent had a direct interest in the property. Alters the method of valuing farms and woodlands and provides an alternate discount method of valuation. Expands the definition of "member of the family," for purposes of determining special use valuation eligibility, to include members of a spouse's family. Permits a parent or fiduciary of a person under a legal disability to sign an agreement to the application of recapture provisions on behalf of such person. Specifies that the estate tax deduction for certain indebtedness of an estate shall not be reduced if the value of the property is determined by applying the special use valuation. States that gifts made within three years of a decedent's death shall be valued as of the time of transfer rather than as of the date of death. Allows an individual to elect to pay a gift tax rather than use the unified tax credit. Modifies the alternate extension of time for payment of the estate tax where the estate consists largely of an interest in a closely held business to: (1) allow an installment payment election if the value of the interest in the closely held business is either 25 percent of the value of the gross estate or 35 percent of the taxable estate; (2) alter the definition of "interest in a closely held business"; (3) increase to 50 percent the value of an interest disposed of which will accelerate the payment of tax; and (4) permit payment, but with a penalty, of an installment within six months after the due date. Revises rules for determining whether property qualifies as an interest in a closely held business with respect to property included in the gross estate which is transferred prior to death and ownership of assets leased to or used by a family-owned business. Revises rules regarding the qualification of corporate distributions of property in redemption of stock which is included in a decedent's gross estate. Removes the limitation on substantially disproportionate redemptions of stock of a corporation which is a closely held business. Revises the formula for determining whether such redemptions are substantially disproportionate and the rule for determining whether a shareholder's interest in a corporation is terminated. Applies the four percent rate of interest on estate tax payments extended under the alternate extension of time provisions to the entire amount of the tax to be paid. Permits an election to value at 50 percent of its value an interest in a closely held business the net equity of which is less than $50,000,000. Imposes an additional estate tax if such interest is disposed of within ten years after the decedent's death. Allows a disclaimer of an interest in property for estate tax purposes in specified circumstances where such disclaimer does not result in the passing of the interest concerned under the applicable State law.
United States · United States Congress · 4 June 1981
Postsecondary Student Assistance Amendments of 1981 - Amends the Higher Education Act of 1965 to limit the amount of any student loan made after October 1, 1981, which may be covered by Federal loan insurance to the student's financial need for the period of instruction covered by the loan. Sets similar limits on loans insured under State or nonprofit private institutional student loan programs which receive Federal interest subsidy payments. Applies provisions for need analysis to such loans (under the guaranteed student loan program). Repeals provisions which counted specified student loans as part of the expected family contribution for purposes of other forms of student assistance. Permits loans to parents to be counted as part of the student's expected family contribution in the determination of need for all forms of student assistance under such Act. Revises need analysis provisions for higher education student assistance programs. Deletes provisions which specified that effective family income includes certain social security student benefits and one-half of veterans' education assistance. Directs the Secretary of Education to set a series of assessment rates to be applied to parental discretionary income in determining the expected family contribution. Eliminates a provision excluding all equity in a single principal place of residence from the computation of assets of a student or family. Raises the asset reserve which may be deducted from the net value of such assets from $10,000 to $25,000, or, in cases where a business or farm are part of such assets, from $50,000 to $100,000. Provides that the Secretary shall determine, for "cost of attendance" student assistance purposes, specified allowances for: (1) books, supplies, transportation, and personal expenses; (2) required residential training expenses for correspondence students; (3) expenses for formal study abroad; (4) child care expenses; and (5) expenses of handicapped students. Directs the Secretary, for purposes of the basic educational opportunity grant ("Pell grant") program, to determine specified room and board expenses. Raises the annual interest rate on loans to parents of dependent undergraduate students from nine percent to 14 percent. Sets forth formulas for computing the special allowance to be paid to holders of such loans. Removes the separate (and higher) borrowing limits for independent students for loans covered by Federal loan insurance. Eliminates grace periods after deferments of student loan repayments. Eliminates repayment deferments during Peace Corps or Domestic Volunteer service and during internships. Eliminates the program of payments by the Secretary to institutions to cover the administrative costs of the student loan program (at ten dollars per student lender per academic year). Authorizes eligible institutions to collect from student lenders up to ten dollars per academic year to cover such administrative costs. Provides for the reduction of special allowances to holders of loans made on or after October 1, 1981, by specified amounts of authorized origination fees. Authorizes eligible lenders, with respect to loans made on or after October 1, 1981, to charge borrowers an origination fee up to four percent of the principal amount of the loan, which may be deducted from the proceeds of the loan prior to payment to the borrower. Raises the minimum annual repayment on student loans from $360 to $600. Revises provisions relating to the Student Loan Marketing Association to expand the functions of the Association to: (1) cover student loans including, but no longer limited to insured loans; and (2) assure nationwide the establishment of adequate loan insurance programs for students by providing for an additional program of loan insurance to be covered by agreements with the Secretary. Authorizes the Association to: (1) buy, sell, hold, underwrite, and otherwise deal in tax-exempt obligations issued to make or purchase loans; (2) undertake a program of loan insurance pursuant to specified agreements with the Secretary relating to interest subsidy payments and loan insurance supplemental guaranties; (3) undertake any other activity which its Board of Directors determines to be in furtherance of programs of specified insured student loans or will otherwise support student credit needs; and (4) undertake any activity with regard to student loans which are not insured or guaranteed as it may undertake with regard to insured or guaranteed student loans. Subjects such loans to the same provisions, relating to warehousing advances made on loan security, as insured loans. Specifies that: (1) the obligations of the Association shall be deemed to be obligations of the United States, for purposes of exemption from State or local taxation; and (2) the Association shall be deemed a person for purposes of distribution of its property under the Bankruptcy Act. Removes certain limitations on subrogration of the United States to rights of any insurance beneficiary under specified student loan guarantee agreements. Requires guarantee agencies to assign to the Secretary any loan for which payment has been made under such guarantee agreements, whenever the Secretary determines this necessary to protect the Federal fiscal interest. Sets forth effective dates for various provisions of this Act.
United States · United States Congress · 20 May 1981
Higher Education Amendments of 1981 - Amends the Higher Education Act of 1965 to limit the amount of any Federally-insured student loan made after June 30, 1981. Sets similar limits on loans insured under State or nonprofit private institutional student loan programs which receive Federal interest subsidy payments. Applies provisions for need analysis to such loans. Repeals provisions which counted specified student loans as part of the expected family contribution for purposes of other forms of student assistance. Permits loans to parents to be counted as part of the student's expected family contribution in the determination of need for all forms of student assistance under such Act. Eliminates the program of Federal interest subsidy payments for student loans. Eliminates payments to institutions to cover administrative costs of such program and administrative costs of the program of loans to parents. Increases the maximum repayment period for loans to parents of dependent students from ten years to 20 years. Limits the interest rate for such loans to a rate set by the Secretary of the Treasury, considering current market yields on outstanding U.S. marketable obligations of comparable maturity plus an allowance determined by the Secretary of Education ("the Secretary"). Eliminates the Federal payment of special allowances to lenders on such loans. Deletes provisions limiting subrogation of the United States to rights of any insurance beneficiary under Federal guaranty agreements with non-Federal student loan programs. Requires a guaranty agency to assign to the Secretary any loan for which the Secretary has made payment under such a guaranty agreement, if the Secretary deems this necessary to protect the Federal fiscal interest. Revises provisions for determining the amounts of basic educational opportunity grants ("Pell grants") and of supplemental educational opportunity grants to subtract an amount of expected student self-help as determined by the Secretary. Eliminates the deduction for State and local taxes from adjusted family income for purposes of determining a student's need for assistance under such Act. Authorizes the Secretary to set assessment rates to be applied to parental discretionary income in determining the expected family contribution. Provides that the Secretary shall determine, for "cost of attendance" student assistance purposes, specified allowances for: (1) books, supplies, transportation, and personal expenses; (2) required residential training expenses for correspondence students; (3) expenses for formal study abroad; (4) child care expenses; and (5) expenses of handicapped students. Directs the Secretary, for purposes of the "Pell grant" program, to determine specified room and board expenses. Eliminates payments for institutional administrative expenses under the "Pell grant" program. Amends the Housing Act of 1950 to authorize the use of funds in the revolving account of the College Housing Loan Program for specified expenses and payments in connection with the sale of participations in certain acquired obligations.
United States · United States Congress · 19 May 1981
Amends the Internal Revenue Code to allow certain individuals to compute the amount of the income tax deduction for retirement savings on the basis of the earned income of their spouses, without regard to any community property laws.
United States · United States Congress · 19 May 1981
Amends the Internal Revenue Code to revise requirements for the exclusion of interest on mortgage subsidy bonds. Repeals provisions which allow tax-exempt status for such bonds if 95 percent of the mortgages financed by such issues are in compliance with stated requirements. Provides that a showing that the issuing authority has tried in good faith to satisfy all requirements will cure a failure to meet any particular requirement if such failure is corrected within a reasonable time after its discovery. Allows bondholders to rely upon an issuer's good faith covenant as to a compliance. Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action. Changes the method of determining the average area purchase price for purposes of the purchase price requirements for bond-financed mortgages. Specifies that the average area purchase price shall not include residences which are not typically financed through normal real estate mortgage loans and that such price may be determined separately for new and previously occupied homes. Revises the arbitrage requirements to increase the amount by which interest rates on tax-exempt mortgage subsidy bonds may exceed the interest rates on mortgages financed with such bonds. Changes the method of determining the yield on an issue. Specifies that issuers are not required to dispose of any investment and realize a loss in order to satisfy arbitrage restrictions. Allows two or more qualified mortgage bond issues of a single issuer to be combined for purposes of determining compliance with arbitrage requirements. Permits issuers to maintain a reasonable reserve against investment losses and to allocate credits or payments between eligible mortgagors. Exempts mortgages insured by the Federal Housing Administration or guaranteed by the Veterans Administration from certain mortgage assumption requirements. Includes energy impacted areas within the definition of targeted areas for purposes of the special treatment of targeted area residences. Repeals the requirement that the designation of areas of chronic economic distress be approved by the Secretary of Housing and Urban Development. Limits the designation of areas of chronic economic distress to 25 percent of the geographic area within a State. Redefines statistical areas to include two or more statistical areas combined. Repeals the registration requirements for bond issues.
United States · United States Congress · 13 May 1981
Directs the Postmaster General to issue a postage stamp to honor the seventieth anniversary of the founding of the Girl Scouts of the United States of America.
United States · United States Congress · 28 April 1981
Food Stamp and Commodity Distribution Amendments of 1981 - Title I: Major Food Stamp Revisions - Amends the Food Stamp Act of 1977 to provide for a reduction in the value of food stamp allotments to households in which school age children (up to a maximum of four children) are eligible for meals under the national school lunch program. Defines "school age child" to mean a household member of at least six years of age but less than 18 years of age and any other household member attending elementary or secondary school. Provides for an annual adjustment of the thrifty food plan in lieu of a semi-annual adjustment. Makes the household income eligibility standard 130 percent of the nonfarm income poverty guidelines prescribed by the Office of Management and Budget. Eliminates the requirement for reports by: (1) the Secretary of Agriculture on the feasibility of recovering excessive food stamp benefits through Federal income tax data; and (2) the Director of the Congressional Budget Office on the review of the various consumer price indices. Increases the standard deduction in computing income for eligible households and the excess shelter expense deduction for such households. Eliminates the semi-annual adjustment of such deductions. Repeals increases in the dependent care deductions for working adults and medical deductions for the elderly and disabled. Revises retrospective accounting procedures to calculate income for households that derive their income in a period shorter than a year. Provides that certain household income, as of October 1, 1983, be calculated on a basis of anticipated income. Exempts migrant farmworker households from periodic income reporting requirements. Provides that all other households which fail to submit such report shall not receive an allotment for the period covered by such report. Title II: Other Food Stamp Cost Reductions - Excludes from certain food stamp eligibility: (1) boarders (persons who live with others or pay compensation to others for meals); (2) participants in drug addiction or alcoholic treatment and rehabilitation programs; (3) disabled or blind recipients of Social Security benefits; and (4) battered women and children temporarily residing in public or private nonprofit shelters. Declares that sources of income that are excluded from household income for purposes of the food stamp program are those sources determined by Federal law. Limits outreach services of State agencies to informing applicants and participants of their rights and responsibilities and regulations under the food stamp program. Sets forth the determining factors for households to be considered in immediate need of expedited service under such program. Title III: Improving Administrative Procedures for the Food Stamp Program - Revises the definition of retail food stores and the qualifications for such stores to accept and redeem food stamp coupons. Disallows expense deductions for expenses paid by a third party on behalf of a household. Sets forth eligibility criteria for sponsored aliens under the food stamp program. Eliminates provisions of the Food Stamp Act of 1977 requiring the Secretary to follow regulations in force as of June 1, 1977, to prescribe the types and allowable amounts of financial resources an eligible household may own. Provides a procedure for the collection of overissuance of coupons by the reduction of monthly allotments. Makes households ineligible for food stamp assistance where the heads of such households voluntarily quit work, whether or not such household was eligible for assistance immediately prior to such unemployment. Provides that any person exempted from work requirements under the food stamp program because of compliance with work requirements under the Social Security Act, shall be held non-exempt under such program for noncompliance under such Act. Allows persons required to register for work under such program to be referred to State-operated community work experience programs. Requires certain unemployed persons in eligible households to register for employment once every twelve months (formerly once every six months). Restricts cash for change when using food stamp coupons to the lowest coupon denomination issued. Directs the Secretary of Agriculture to promulgate regulations to prescribe the liability of States for coupons issued through the mail. Directs State agencies to promptly restore food stamp benefits upon the request of households where such benefits were wrongfully denied or terminated, except in cases where such denials occurred during a period of time more than a year earlier than such request. Eliminates the requirement of the Secretary to supplement the nutrition education program with printed materials designed for persons with low reading and comprehension levels. Repeals the 60-day transfer of certification for eligible households which move from one political subdivision to another. Authorizes the Secretary to waive claims arising under provisions of the Food Stamp Act of 1977 and to reduce amounts due any State agency to collect unpaid claims assessed against such agency which has exhausted its appeal rights under such Act. Provides for an increase in the federally funded share of administrative costs to State agencies whose quality control programs result in less than the nationwide percentage of errors. Eliminates the requirement for the Secretary to establish staffing standards for State agencies. Directs that funds collected from claims arising under the Food Stamp Act of 1977 be credited to the food stamp appropriation account for the fiscal year in which the collection occurs. Directs that funds provided to State agencies for administrative cost-sharing be paid from such account. Title IV: Food Stamp Funding - Increases the amount of appropriations for fiscal year 1981, and sets forth amounts for fiscal year 1982 through 1985. Title V: Commodity Distribution Program - Amends the Agricultural Consumer Protection Act of 1973 to extend the authority of the Secretary to purchase and distribute agricultural commodities for food assistance programs for fiscal years 1982 through 1985. Sets forth penalties for fraud under such Act. Title VI: Food Stamp Cash-Out of SSI Recipients - Directs the Secretary, upon the request of a State, to find that such State's cash payments under the Social Security Act have been specifically increased to include the bonus value of food stamps, for purposes of determining food stamp eligibility for supplemental security income recipients.
United States · United States Congress · 10 April 1981
Directs the Secretary of Education to make grants to State educational agencies to fund model programs, designed and operated by local educational agencies, for the improvement and expansion of foreign language study for children aged five through 17 who reside within their school districts. Sets forth formulas for determining the amount of such grants based on State population. Sets forth provisions relating to the availability of such funds. Sets forth grant application requirements for State educational agencies. Directs the Secretary to make grants to institutions of higher education to cover part of the costs of foreign language instruction for their students. Sets forth formulas to determine whether an institution is eligible for such grants, based on the percentage of its student body enrolled in qualified postsecondary language courses. Authorizes the Secretary to establish standards, including reporting requirements, for programs assisted by such grants. Sets forth formulas for determining the amounts of such grants, based on numbers of students enrolled in such courses. Directs the Secretary to make grants to each institution of higher education which requires at least two years of postsecondary credits in foreign language (or a competency equivalent) for each graduating student. Sets forth formulas for determining the amounts of such grants, based on the number of students enrolled in the institution. Prohibits any grant or contract under this Act except to such extent, or in such amounts, as may be provided in appropriation Acts. Authorizes appropriations for fiscal years 1983 through 1985 to carry out grant programs under this Act.
United States · United States Congress · 10 April 1981
Constitutional amendment - Proposes a constitutional amendment to provide apportionment of Representatives in Congress among the States according to the number of citizens and persons legally admitted into the United States for permanent residence (currently apportioned according to the number of persons in each State).
United States · United States Congress · 7 April 1981
Farmer Grain Protection Act - Amends Federal law to permit bankruptcy courts to grant relief from stays of acts against agricultural commodities held as property of estates in bankruptcy.
United States · United States Congress · 2 April 1981
Family Enterprise Preservation Act - Amends the Internal Revenue Code to allow a deduction of the value of an interest in qualified tangible property (tangible property located in the United States which on the date of decedent's death was being used as a farm for farming purposes or in a trade or business other than farming) from the value of a decedent's gross estate only if at least 50 percent of the adjusted value of the decedent's estate consisted of the adjusted value of tangible property which: (1) on the date of the decedent's death was being used for a qualified use; and (2) passed from the decedent to a qualified heir (a member of the decedent's family). Limits such deduction to $750,000 with respect to bequests of qualified tangible property to a decedent's spouse and $750,000 with respect to bequests of qualified heirs other than the spouse. Imposes an additional estate tax if, within 15 years of the decedent's death and before the qualified heir's death, the qualified heir: (1) disposes of any interest in qualified tangible property (other than by a disposition to a member of his family); or (2) ceases to use such qualified tangible property for the qualified use. Provides for reducing the amount of additional tax for such disposition or cessation according to the number of years after the decedent's death that such disposition or cessation occurs. Prohibits the imposition of more than one additional tax with respect to any portion of an interest in such qualified tangible property.
United States · United States Congress · 31 March 1981
Amends the Bankruptcy Reform Act of 1978 to require the bankruptcy court, in the case of a bankruptcy petition filed by a person engaged in the business of operating a farm produce storage facility, to: (1) identify those farm producers who have produce in storage, and those parties which have secured interests in farm produce, within such facility; (2) audit the assets of the farm produce storage facility for the purpose of determining the extent of farm produce available for distribution to such producers and secured creditors; and (3) direct the abandonment of such farm produce according to procedures set forth by this Act. Declares that such procedures shall be applied by the court solely for the purpose of effectuating abandonment of farm produce which is not property of the estate, or is of inconsequential value to the estate, and shall not be construed to limit the right of any party to seek abandonment of any other property. Prohibits distribution of farm produce ordered abandoned by the court from being delayed due to the pendency of any appeal from the orders of abandonment, except that a stay of orders may be entered under specified conditions. Makes any such stay of orders appealable as of right by any aggrieved party. Grants to any person who has delivered agricultural products to a licensed warehouseman upon a contract for sale and who has not received the agreed upon payment a lien against products of like quantity, quality, and type, title to which may be then vested in such warehouseman, to the extent of the payment agreed upon for the purchase of the product sold. Attaches such lien at the time of the formation of the oral or written contract for sale and continues it until the obligations of the warehouseman to the seller of the products are satisfied.
United States · United States Congress · 26 March 1981
Proclaims Raoul Wallenberg an honorary citizen of the United States. Requests the President to ascertain his whereabouts from the Soviet Union and to secure his freedom.
United States · United States Congress · 18 March 1981
Amends Federal bankruptcy law to require a bankruptcy court, upon proper request and after a hearing, to allow a creditor to proceed against a debtor (even after a filed bankruptcy petition has stayed other legal proceedings against the debtor) to recover perishable commodities which the debtor holds under a bailment contract.
United States · United States Congress · 12 March 1981
Amends the highway safety programs uniform standards to include: (1) comprehensive alcohol-traffic safety programs; and (2) penalties to deter motorists from driving while under the influence of alcohol.
United States · United States Congress · 9 March 1981
Federal Lending Oversight and Control Act - Declares that the purpose of this Act is to provide a statutory basis for controlling loans and loan guarantees under Federal credit programs through the congressional budget process. Title I: Reports Regarding Federal Credit Activity - Requires the Secretary of the Treasury, not later than February 1 and August 1 of each year, in consultation with the Council of Economic Advisors, to transmit a report to both Houses of Congress regarding Federal credit activity during the previous six month period. Requires each such report to examine the relationship between Federal credit activity during the previous six-month period and: (1) the condition of the economy; (2) the availability and cost of credit in the private sector; and (3) the exercise of monetary and fiscal policy by the Federal Government. Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System, in their biannual reports to Congress concerning recent developments affecting economic trends in the Nation, to examine the effects of Federal credit activity on the availability and cost of credit in the private sector and on the exercise of monetary policy by the Board and the Federal Open Market Committee. Amends the Budget and Accounting Act of 1921 to require the President, in his annual budget statement to the Congress, to include all essential facts regarding direct lending by the Government and guarantees by the Government of the repayment of indebtedness incurred by another person or government. Title II: Changes in Congressional Budget Procedures - Amends the Congressional Budget Act of 1974 to require 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 Committee 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 estimate 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. Title III: Amendments to House Rules - Amends rule X of the Rules of the House of Representatives to require each standing committee (other than the Committee on Appropriations and the Committee on the Budget) to review and make appropriate recommendations with respect to the consistency and uniformity of the different definitions, default provisions, policies, interest rates, and other terms and conditions relating to direct loan, loan insurance, and loan guarantee activities included in any laws of which the subject matter is within the jurisdiction of that committee. Title IV: Construction and Effective Dates - Sets forth the effective dates of the titles of this Act.
United States · United States Congress · 25 February 1981
Amends the Impoundment Control Act of 1974 to require Congress, within 45 days after the President notifies Congress of his intention to rescind appropriated budget authority, to pass a resolution disapproving such rescission in order to make such budget authority available for obligation.
United States · United States Congress · 18 February 1981
Education Reorganization Act of 1981 - Title I: Establishment of the Department - Establishes an Executive department to be known as the Department of Health, Education, and Welfare (HEW), to be administered by a Secretary, appointed by the President with the advice and consent of the Senate. Sets forth provisions for the principal officers of such Department. Title II: Transfer of Agencies and Functions - Transfers to the Secretary all functions of the Secretary of Health and Human Services. Transfers to the Department all offices of the Department of Health and Human Services. Transfers to the Secretary and to the Department all functions and all offices of the Secretary of Education and of the Department of Education, except for specified functions and offices relating to the operation of overseas schools for military dependents, which are transferred to the Secretary of Defense and the Department of Defense. Title III: Administrative Provisions - Authorizes the Secretary to: (1) appoint offices and employees to carry out the functions of the Secretary and the Department; and (2) obtain, as provided in appropriation Acts, the services of experts and consultants. Directs the Secretary, by the end of the first fiscal year beginning after the enactment of this Act, to submit to the President and the Congress legislative recommendations for redesignating or replacing HEW programs so that such programs can be administered by fewer personnel. Requires that the sum of the number of full-time permanent positions that perform functions to be transferred to the Department by this Act, plus the full-time equivalent of the number of experts and consultants hired, be reduced by one thousand by the end of the second such fiscal year and not increased thereafter. Sets forth general administrative provisions for the Department, including those relating to general authority, delegation, reorganization, rules, contracts, regional and field offices, acquisitions and maintenance of authority, facilities at remote locations, use of facilities, copyrights and patents, gifts and bequests, technical advice, working capital fund, funds transfer, seal of department, and annual report. Authorizes appropriations for the Department for fiscal year 1982 and succeeding fiscal years. Title IV: Transitional, Savings, and Conforming Provisions - Sets forth provisions relating to the transfer and allocation of appropriations and personnel, the effect on personnel, agency terminations, and incidental transfers. Sets forth: (1) savings provisions; (2) provisions for separability; (3) conforming references, amendments, and redesignations; and (4) transition provisions. Title V: Effective Date and Interim Appointments - Sets forth the effective date for the provisions of this Act. Provides for interim appointments under specified conditions.
United States · United States Congress · 5 February 1981
Administrative Rulemaking Reform Act - Directs a Federal agency preparing to hold a rulemaking session to make a reasonable effort to inform those likely to be affected by the proposed rulemaking. Requires the notice of rulemaking to include: (1) the projected effective date of the rules; (2) the purpose of the rulemaking; (3) the text of the proposed rules; and (4) the studies on which the agency intends to rely in the rulemaking proceedings. Requires public notice and public opportunity for comment on all rulemaking proceedings unless the agency finds that proposed rules are emergency rules or are of routine or insignificant impact. Requires Federal agencies to give interested persons at least 45 days to participate in the rulemaking. Provides for agency hearings to receive oral comments, and procedures to resolve significant controversies over factual issues. Requires each agency to maintain a public file of all relevant material and required statements for each rulemaking. Prohibits adoption of a proposed rule that has been revised substantially unless interested persons are provided an opportunity to comment on such revisions. Sets forth an expedited rulemaking procedure for rules to replace emergency rules. Directs each agency to submit a copy of each promulgated rule to each House of Congress. Declares that no rule, excluding an emergency rule, shall become effective if: (1) both Houses of Congress adopt a concurrent resolution disapproving it within 90 days of continuous session of Congress; or (2) one House adopts such a resolution within 60 such days and the other House does not disapprove such resolution within 30 days thereafter. Authorizes either House to adopt a resolution directing an agency to reconsider and repromulgate a newly promulgated rule or an existing rule within a specified period. Provides that if such agency fails to act such rule shall lapse. Directs the Administrative Conference of the United States to study and report on the effects on rulemaking of the Congressional review provisions of this Act. Authorizes appropriations for such study. Directs a court reviewing an agency rule to set aside any rule found to be unwarranted by material in the rulemaking file.
United States · United States Congress · 5 February 1981
Amends the Internal Revenue Code to permit married individuals filing separate income tax returns an election to be taxed at rates applicable to unmarried individuals.
United States · United States Congress · 22 January 1981
Capital Cost Recovery Act of 1981 - 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. Permits calculation of the investment tax credit for such property without regard to the useful life of the property. 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.
United States · United States Congress · 22 January 1981
Armed Forces Education Assistance Act of 1981 - Establishes an Armed Forces Educational Assistance Program for persons who enter military service after September 30, 1981, and serve on active duty for three years or more. Sets forth a schedule of educational assistance entitlement for such veterans as follows: (1) for service of 36 consecutive months but less than 48 consecutive months and an agreement to serve three years in the Ready Reserve, 18 months of assistance; (2) for service of 48 consecutive months but less than 72 consecutive months and an agreement to serve four years in the Ready Reserve, 36 months of assistance; and (3) for service of 72 consecutive months, 36 months of assistance. Allows an eligible veteran who has served on active duty for 16 years by September 30, 1987, to transfer his or her educational entitlement to spouse or children in such manner as prescribed by the Administrator concerned and under limitations set forth in this Act. Makes such veterans eligible for educational assistance for the six-year period following their discharge or release date. Sets forth procedures extending any applicable time period for such veterans who are prevented from initiating or completing a program of education under certain circumstances. Directs the Administrator of Veterans' Affairs to pay tuition costs and a subsistence allowance to eligible veterans in the program. Terminates the Post-Vietnam Era Veterans' Educational Assistance program after September 30, 1983. Requires the Administrator of Veterans' Affairs and the Secretary of Defense to submit a joint report to the Congress, not later than 90 days after the enactment of this Act, on plans for implementing the educational assistance provided in such Act. Directs the Secretary of Defense to report to the Congress semiannually on the effect of such program on the number and quality of individuals entering the Armed Forces.
United States · United States Congress · 22 January 1981
Firearms Mandatory Sentencing Act of 1981 - Amends the Omnibus Crime Control Act of 1970 to revise and increase the mandatory penalties for using or carrying a firearm during commission of a Federal felony. Extends to first offenders the stipulations, currently applicable only to second offenders, that the court not suspend any sentence, grant probation, or impose the additional sentence concurrently with the sentence imposed for the felony. Imposes a new requirement that such offenders may not be eligible for parole until one-half of the term of imprisonment has expired (parole eligibility generally arises when one-third of the term has expired).
United States · United States Congress · 22 January 1981
Modifies the termination date for veterans eligible for educational assistance to December 31, 1989, or five years after discharge or release from active duty, whichever is later.
United States · United States Congress · 20 January 1981
Constitutional Amendment - Prohibits the total amount of money expended by the United States in any fiscal year from exceeding the total amount of revenue received by the United States during such fiscal year, except in time of war as declared by the Congress. Allows the suspension of the amendment by a joint resolution approved by a vote of three-fifths of the Members of each House of the Congress and approved and signed by the President, or by a vote of two-thirds of the Members of each House of the Congress. Requires tax rates to be reduced to offset the effects of inflation. Establishes a procedure for the approval of bills or joint resolutions affecting taxes.
United States · United States Congress · 19 January 1981
Establishes a Joint Select Committee on Defense Readiness and Mobilization Capability to investigate and report on defense readiness and mobilization capability, including an analysis of: (1) the kind and extent of threats to the national defense; and (2) the quality and quantity of manpower, material, transportation, budgetary, and programmatic resources needed at present and able to be mobilized in the future. Sets forth the requirements for appointment to the joint select committee.
United States · United States Congress · 6 January 1981
Amends the Internal Revenue Code to provide that the standard mileage rate used in computing the charitable deduction for expenses incurred in the operation of a motor vehicle shall be the same as the standard mileage rate for the business related deduction.
United States · United States Congress · 5 January 1981
Limitation on Government Recordkeeping Requirements and Actions Act of 1981 - Prohibits any Federal agency from: (1) requiring any person to maintain, prepare, or produce records (other than records relating to a dangerous material) of an event more than four years after the event has occurred; and (2) commencing an action against a person for a violation of a regulation more than four years after such violation has occurred, except as otherwise provided by the Internal Revenue Code.
United States · United States Congress · 5 January 1981
Sunset Review Act of 1981 - Requires the House Committee on Rules and the Senate Committee on Rules and Administration to jointly develop and maintain an inventory of all Federal programs and tax expenditures. Requires such inventory to classify all such programs and expenditures according to the jurisdiction of the various legislative committees of the two Houses. Requires the General Accounting Office (GAO), before the beginning of the 98th Congress, after consultation with the appropriate legislative committees and the Congressional Budget Office, to submit a draft inventory to the House Committee on Rules and the Senate Committee on Rules and Administration. Requires such Committees to notify each legislative committee of the programs and tax expenditures which are classified within its jurisdiction. Allows any legislative committee to propose revisions of such inventory within 30 days after notification. Requires that such inventory be published in a single document. Requires that an update be made of such inventory at the beginning of every Congress. Specifies information to be contained in such an inventory. Directs the GAO to publish a supplement to such inventory which includes certain budget information. Requires each legislative committee of the House of Representatives and the Senate, by a specified date, to report a resolution setting forth an agenda for the sunset review of selected Federal programs within its jurisdiction, or, in the case of the House Committee on Ways and Means and the Senate Committee on Finance, of selected tax expenditures. Directs the committees of each House to develop their sunset review agenda in consultation with any other committee which has concurrent jurisdiction over any programs or tax expenditures involved. Requires, where practicable, that related programs and expenditures be reviewed during the same Congress. Requires the report accompanying any agenda reported in the 104th Congress and every fifth Congress thereafter to summarize the programs and expenditures reviewed and not reviewed during the five previous Congresses. Prohibits either the House or the Senate from considering a primary expense resolution for any legislative committee in any Congress until that committee has developed and submitted its sunset review agenda. Requires the House Committee on Rules and the Senate Committee on Rules and Administration to incorporate such agendas into a consolidated sunset review agenda and to report such consolidated agenda to its House in the form of a concurrent resolution, within seven legislative days after all committee sunset review agendas have been submitted. Requires the consolidated sunset review agenda to be adopted in the House and in the Senate no later than March 30 in the first session of each Congress. Sets forth the procedures for the consideration and adoption of such agenda. Requires each committee of the House or the Senate, not later than May 15 in the second session of each Congress, to report a bill or bills modifying, continuing, or terminating each program or tax expenditure which it has been directed to review under the consolidated sunset review agenda adopted during the first session. Requires such bill to be accompanied by a report. Requires each department, agency, and instrumentality in the executive branch of the Government which is responsible for the administration of a Federal program or tax expenditure selected for sunset review to provide the appropriate Congressional committees with its views, information, and assistance. Directs the Comptroller General to supply specified information on audits. Exempts foreign intelligence or counterintelligence programs designated by the President as requiring protection from unauthorized disclosure. Directs the Permanent Select Committee on Intelligence of the House and the Select Committee on Intelligence of the Senate to review such programs pursuant to the spirit of this Act. Amends rule X of the Rules of the House of Representatives to include the consolidated sunset review agendas and the Congressional inventory of Federal programs as part of the House Committee on Rules' functions.
United States · United States Congress · 5 January 1981
Anti-Inflation Tax Act of 1981 - Amends the Internal Revenue Code to require annual cost of living adjustments, based on the Consumer Price Index, to individual income tax rates, the personal tax exemption, withholding requirements, and minimum income tax return amounts.
United States · United States Congress · 5 January 1981
Requires that each State establish and maintain an approved workfare program as a condition of its eligibility for Federal payments or other assistance under the: (1) program of aid to families with dependent children under the Social Security Act; (2) food stamp program under the Food Stamp Act of 1977; and (3) public housing and assisted housing programs under the United States Housing Act of 1937. Requires that such State workfare program shall require every State resident applying for or receiving aid under such Federal public assistance program to perform work in return for, and as a condition for, such aid. Directs the appropriate Federal agencies to promulgate guidelines for approval, supervision, and oversight of such State workfare programs. Exempts from required participation in such programs those who are: (1) under age 18 or over age 65; (2) disabled; (3) regularly employed for at least 40 hours a week; or (4) primarily responsible for the care of a child less than three years old (or for the care of a child more than two but less than six years old if suitable child care is not available at reasonable cost). Requires that each State workfare program must provide that if any individual who is required to participate in such program refuses to accept a bona fide offer of qualified employment or to perform qualified employment, in any month, neither such individual nor any other person in the family or household of which such individual is a member shall be eligible to receive any aid under such Federal public assistance programs for that month. Requires that State workfare programs include provision for job counseling, assistance in obtaining employment outside the program, and job search activities. Provides for: (1) Federal matching funds to cover administrative costs of such State programs; (2) Federal cut-offs of funds to State agencies for failure to comply with this Act; and (3) Federal agency reports to Congress on such State programs. Authorizes appropriations.
United States · United States Congress · 5 January 1981
Amends the Omnibus Crime Control Act of 1970 to revise and increase the mandatory penalties for using or carrying a firearm during commission of a Federal felony. Defines such offense as using a firearm to commit a felony over which the district courts have exclusive jurisdiction or carrying a firearm during such a felony involving violence. Deletes the requirement that the firearm be carried "illegally." Increases the additional penalty imposed for such offense from one to ten years' imprisonment to five to ten years' imprisonment for a first offender and from two to 25 years to ten years to life imprisonment for a second or subsequent offender. Extends to first offenders the directions, currently applicable only to second offenders, that the court not suspend any sentence or grant probation and that the additional sentence not run concurrently with any term of imprisonment imposed for the offense itself. Makes a first offender ineligible for parole for five years and a second or subsequent offender ineligible for ten years. Expresses the sense of Congress that the executive prosecute vigorously such offenses.
![Official portrait of Rep. Coleman, E. Thomas [R-MO-6]](https://www.congress.gov/img/member/c000618_200.jpg)