Rep. Conable, Barber B., Jr. [R-NY-30]

An amendment to fund CFTC operations by fees: $.12 for transactions executed by nonmembers, $.06 by members, and a fee of $3.00 for each option granted or leverage contracts, entered into. The fees are to be paid to the U.S. Treasury and are not to exceed in any fiscal year the funds appropriated by Congress for the Commission's activities. The Commission may waive the fees if a need is established. The Commission is to create an advisory committee comprised of persons affected by the fees for consultation and to prepare a report of their effects for the appropriate congressional committees. The amendment strikes section 238 of the bill which requires a study of the cost saving effectiveness of the National Futures Association's activities and permits a study to implement transaction fees or taxes.

United States · United States Congress

An amendment in the nature of a substitute to eliminate the existing dairy assessment program, statutorily set the support price for milk at not less than $11.60 per hundredweight and authorize USDA to establish the support rate at or above that level at the beginning of each fiscal year. The paid-diversion and dairy-promotion programs are deleted.

United States · United States Congress

An amendment to change the termination date for increased taxes imposed on petroleum from 9/30/90 to 9/30/86.

United States · United States Congress

An amendment in the nature of a substitute to substitute the text of H.R. 4260.

United States · United States Congress

Miscellaneous Charitable Contribution Tax Act of 1984

United States · United States Congress · 3 October 1984

Miscellaneous Charitable Contributions Tax Act of 1984 - Amends the Internal Revenue Code to require tax-exempt organizations subject to the unrelated business tax and private foundations subject to investment income tax to make estimated tax payments. Increases the percentage limitation on the deductions for charitable contributions to 60 percent of the taxpayer's contribution base for individuals and 20 percent of the taxable income for corporations. Increases from 5 to 15 years the period for carryforward of excess charitable contribution deductions. Permits a corporation to make a charitable contribution to a person even though the person owns part or all of the stock of such corporation. Provides that the present value of a gift of a remainder interest must be discounted at a rate of five percent per annum for purposes of the charitable contribution deduction. Makes various changes in the rules relating to private foundations, charitable remainder trusts, and charitable contributions by trusts to private foundations. Authorizes the Secretary of the Treasury to impose a fee not to exceed $250 for any taxable year to process an application and prepare a written determination for recognition of an exemption from tax. Directs the Secretary to impose a fee for filing an annual tax exempt organization information return.

A bill to amend the Internal Revenue Code of 1954 to prevent any life insurance company from taking undue advantage of the fresh-start provisions of the Tax Reform Act of 1984 through changes in business practices after 1983 with respect to policyholder dividends.

United States · United States Congress · 26 September 1984

Amends the Internal Revenue Code to provide that policyholder dividend amounts that are accelerated and are paid or accrued because of a change in business practices by an insurance company after December 31, 1983, shall not be taken into account as paid or accrued for purposes of the policyholder dividends income tax deduction to the extent that such amounts do not exceed the amounts held as of December 31, 1983, by an insurance company as reserves for dividends to policyholders. Revises the definition of "statement gain or loss from operations" for purposes of the reduction in certain deductions of mutual life insurance companies.

Plan Termination Insurance Technical Clarification Act of 1984

United States · United States Congress · 25 September 1984

Plan Termination Insurance Technical Clarification Act of 1984 - Amends the Employee Retirement Income Security Act of 1974 to provide that the Pension Benefit Guaranty Corporation shall pay plan termination insurance benefits with respect to certain plans for which amendments were executed on July 8, 1974, purporting to terminate such plans as of May 22, 1974.

A bill to amend title XX of the Social Security Act to require, as a condition of Federal assistance to any State for the provision of child care services thereunder, that such State estabish, monitor, and enforce appropriate child care standards.

United States · United States Congress · 20 September 1984

Amends title XX (Block Grants to States for Social Services) of the Social Security Act to prohibit the use of title XX grants for any child care services unless: (1) the State has established and is monitoring and enforcing appropriate out-of-home child care standards; and (2) such services meet such standards and all other applicable standards of State and local law. Requires a State, as a condition of eligibility for title XX payments for child care services, to establish, monitor, and enforce appropriate standards governing the provision of out-of-home child care services.

GST Tax Simplification Act of 1984

United States · United States Congress · 18 September 1984

GST Tax Simplification Act of 1984 - Amends the Internal Revenue Code to impose a separate tax on three forms of generation-skipping transfers: (1) taxable distributions; (2) taxable terminations; and (3) outright skips. Provides that the rate of tax on these generation-skipping transfers will be equal to the maximum unified Federal estate and gift tax rate. Allows every transferor to take a credit of $417,000 against the generation-skipping transfers during the transferor's life. Sets forth rules for the allocation of such credit. Defines "taxable distribution," "taxable termination," and "outright skips" for purposes of this Act. Levies a gift tax on taxable distributions. Provides that the trustee making the distribution is liable for the payment of the tax. Permits the distributee to elect to pay the tax. Denies the taxable distribution eligibility for the annual gift tax exclusion. Permits an income tax deduction for a percentage of the taxable distribution includible in the gross income of the distributee. Imposes a surtax on every outright generation skip. Makes the transferor liable for the payment of this tax. Imposes an estate tax on every taxable termination. Provides that the trustee with respect to which the taxable termination occurs shall be liable for the payment of the tax. Provides special rules and definitions relating to the operation of the generation skipping transfer taxes. Directs the Secretary of the Treasury to prescribe by regulations the person required to make the return with respect to the generation-skipping transfer tax and the time for making such return. Requires the Secretary to promulgate regulations to implement the generation-skipping transfer taxes.

GST Tax Simplification Act of 1984

United States · United States Congress · 18 September 1984

GST Tax Simplification Act of 1984 - Amends the Internal Revenue Code to provide a flat rate of tax on every generation-skipping transfer. Provides that the liability for the tax shall be that of the transferee except in the case of taxable terminations, where the liability will be that of the trustee, or in the case of a direct skip, where the liability will be that of the transferor. Permits a credit for any generation-skipping transfer tax paid to any State with respect to any property subject to this tax if such transfer occurs at the time of death or as a result of death of an individual. Defines the terms "generation-skipping transfer," "taxable distributions," "taxable terminations," and "direct skip" for purposes of this Act. Describes the method for determining the taxable amount where there is a taxable distribution, a taxable termination, or a direct skip. Requires that property be valued as of the time of the generation-skipping transfer. Allows for certain instances of alternate valuation. Allows a special $10,000 per year exemption for certain otherwise taxable distributions from trusts. Establishes rules to be followed to qualify for this special exemption. Provides for an exemption of up to $1,000,000 for each person making generation-skipping transfers. Allows an individual to apply the exemption to transfers made by his or her spouse or to transfer the exemption to the spouse. Permits the allocation of this exemption at any time up to the due date of an individual's estate tax return. Provides that the rate of tax on generation-skipping transfers will be 80 percent of the maximum Federal estate tax rate. Establishes rules for the determination of the inclusion ratio to be used to determine the amount of the generation-skipping transfer subject to tax. Sets forth valuation rules for generation-skipping transfers. Sets forth rules for: (1) assigning individuals to generations for purposes of making the determination of whether a generation-skipping transfer occurs; and (2) adjusting the basis of property transferred in a generation-skipping transfer. Limits the liability of a trustee for the generation-skipping transfer tax in certain situations. Directs the Secretary of the Treasury to prescribe by regulations the person required to make the return with respect to the generation-skipping transfer tax and the time for making such return. Requires the Secretary to promulgate regulations to implement the generation-skipping transfer tax. Permits an income tax deduction for the amount of the generation-skipping transfer taxes imposed on an income distribution. Sets forth special rules for distributions in redemption of stock to pay generation-skipping transfer taxes. Permits the election of alternate valuation by an estate only if the estate tax and the generation-skipping transfer tax is reduced by the election. Allows a special adjustment for generation-skipping transfer taxes with respect to the estate tax credit for taxes on prior transfers. Increases the amount of a gift by the amount of the generation-skipping transfer tax imposed on a direct skip transfer. Permits an extension of time for payment of the generation-skipping transfer tax on direct skip transfers of interests in a closely-held business.

REIT Tax Provisions Revision Act of 1984

United States · United States Congress · 13 September 1984

REIT Tax Provisions Revision Act of 1984 - Amends the Internal Revenue Code to revise rules concerning the taxation of the income of shareholders of certain real estate investment trusts (REITs). Treats as ordinary income the gain on the sale or exchange of stock in a real estate investment trust to the extent of the amount of any recapture distribution previously received with respect to such stock. Defines "recaputure distribution." Exempts REITs from the special rules for corporate tax preference items relating to the reduction in certain preference items. Increases the allowable selling price and number of sales of real estate assets by a REIT without imposition of the 100 percent prohibited transaction tax. Eliminates the independent contractor requirement for the management of rental property and use of foreclosure property which is owned by a REIT. Revises standards for the disqualification of a REIT as a personal holding company. Allows REITs to have wholly-owned subsidiaries. Revises rules disqualifying income in the form of rents or interest based on net income or profits of the tenant of a REIT. Excludes net operating losses carried over from prior years for purposes of computing the net capital gain of a REIT for the taxable year. Excludes net losses from prohibited transactions for purposes of computing REIT taxable income. Eliminates present requirements that a capital gain dividend must be designated as such in a written notice from a REIT to its shareholders within 30 days after the close of the REIT taxable year. Substitutes for such requirement a notice to the Secretary of the Treasury within 45 days after the close of the REIT taxable year. Allows the payment of dividends within 90 days after the close of the taxable year by a REIT without the imposition of the excise tax on REIT taxable income net distributed during the taxable year. Limits the penalty on a REIT making a deficiency dividend distribution due to adjustment of REIT taxable income. Excludes from REIT distribution requirements any noncash income recognized by a REIT under certain deferred payment and installment sales rules requiring the imputation of interest. Excludes from REIT distribution requirements any income recognized by a REIT upon a determination that an exchange of real property failed to meet the requirements for the nonrecognition of gain for exchanges solely in kind.

A bill to amend title 5, United States Code, to provide that military service which is creditable for certain military retired pay benefits shall not also be creditable for purposes of civil service retirement benefits.

United States · United States Congress · 9 August 1984

Provides that non-regular military service which is creditable for purposes of military retired pay benefits shall not be creditable for purposes of civil service retirement benefits.

Railroad Unemployment Compensation Amendments of 1984

United States · United States Congress · 2 August 1984

Railroad Unemployment Compensation Amendments of 1984 - Title I: Restructuring of Railroad Unemployment Insurance System - Amends the Internal Revenue Code to provide for coverage of railroad workers under the Federal-State unemployment compensation system. Requires State law to cover railroad workers for purposes of receiving certification by the Secretary of Labor each October 31. Establishes rules for determining the State in which an employee will be covered for unemployment insurance. Sets forth transitional rules for implementing these provisions. Provides that States shall be entitled to reimbursement for benefits which they are required to pay which are based on wages and services previously covered under the Railroad Unemployment Insurance Act. Provides for payment to States to assist with the administrative costs of administering the transitional provisions. Title II: Railroad Sickness Insurance - Grants the Railroad Retirement Board authority to enter into an agreement to administer a sickness benefits plan for employees under certain conditions.

A concurrent resolution reaffirming the United States commitment to international population and family planning assistance, as authorized by section 104 of the Foreign Assistance Act of 1961.

United States · United States Congress · 2 August 1984

Reaffirms the U.S. commitment to population assistance. States that the Congress expects that the executive branch shall not deny funds to multilateral or nongovernmental organizations because of their participation in family planning activities that are financed with funds other than those appropriated by Congress as long as those activities are consistent with U.S. laws.

A bill to require that Presidential primaries or caucuses be held only during the period beginning on the second Tuesday in March and ending on the second Tuesday in June of the Presidential election.

United States · United States Congress · 31 July 1984

Provides that presidential primaries shall be held only during specified months in the year of the presidential election. Directs the Attorney General of the United States to seek compliance with this Act in Federal district court.

Plan Termination Insurance Clarification Act of 1984

United States · United States Congress · 31 July 1984

Plan Termination Insurance Clarification Act of 1984 - Amends the Employee Retirement Income Security Act of 1974 to provide an eligibility standard with respect to plan termination insurance for certain pension plans whose date of benefit cessation cannot be determined.

A joint resolution designating the week beginning on October 7, 1984, as "Mental Illness Awareness Week".

United States · United States Congress · 30 July 1984

Designates the week beginning on October 7, 1984, as Mental Illness Awareness Week.

A bill to amend the Internal Revenue Code of 1954 to provide an income tax credit for expenses incurred by an individual taxpayer for the purchase of television subtitle equipment to be used by a hearing-impaired individual.

United States · United States Congress · 26 July 1984

Amends the Internal Revenue Code to allow an income tax credit in an amount equal to 50 percent of expenses incurred for the purchase and installation of television subtitle equipment to be used by a hearing-impaired individual. Limits the amount of such credit to $250 ($125 in the case of a married individual filing a separate return).

A bill to amend title II of the Social Security Act to eliminate the 3 percent trigger for cost-of-living increases in benefits under the old-age, survivors, and disability insurance program.

United States · United States Congress · 25 July 1984

Amends Title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to eliminate the three percent trigger for cost-of-living benefit increases.

A joint resolution to designate the month of November 1984 as "National Hospice Month".

United States · United States Congress · 29 June 1984

Designates November 1984 as National Hospice Month.

A bill to increase the statutory limit on the public debt.

United States · United States Congress · 28 June 1984

Increases the public debt limit to not more than $1,573,000,000,000 outstanding at one time.

A joint resolution to establish a bipartisan National Commission of Federal Budget Deficit Reductions.

United States · United States Congress · 28 June 1984

Establishes the National Commission on Federal Budget Deficit Reductions to review all relevant elements of fiscal and monetary policy. Requires particular emphasis to be given to the causes of cyclical and structural Federal budget deficits and the impact which growing structural Federal deficits have on employment, capital formation, and the vigor and viability of economic growth in the United States. Requires the Commission to: (1) identify problems which may hinder the control and reduction of Federal budget deficits; and (2) analyze all potential options which would result in deficit reductions and place the Government on a sound financial basis. Requires the Commission to report to the President and Congress by January 15, 1985, detailed findings, conclusions, and recommendations for such legislation and administrative actions as it considers appropriate. Terminates the Commission 30 days after submission of such report.

A bill to increase the statutory limit on the public debt.

United States · United States Congress · 26 June 1984

Increases the public debt limit to not more than $1,573,000,000,000 outstanding at one time.

A joint resolution to designate the week of October 14, 1984, through October 21, 1984, as "National Housing Week".

United States · United States Congress · 26 June 1984

Designates the week of October 14 through October 21, 1984, as National Housing Week.