United States · United States Congress · 18 September 1979
Congressional Pay Raise Deferral Act - Amends the Federal Salary Act of 1967 and the Legislative Reorganization Act of 1946 to provide that any adjustment in the rate of pay for Members of Congress proposed during any Congress shall not take effect earlier than the beginning of the next Congress. States that any such pay adjustment proposed in an even-numbered year of any Congress after the congressional elections and before the beginning of the following Congress, shall be considered as occurring during the first session of the following Congress for the purposes of this Act.
United States · United States Congress · 17 September 1979
Amends the Internal Revenue Code to provide that employers may not be required to make deposits (or other payments) of social security taxes or withholding of tax amounts earlier than currently required by regulation.
United States · United States Congress · 11 September 1979
Constitutional Amendment - Limits the increase of total budget outlays of the United States Government during any fiscal year to a percentage equal to the percentage increase in the gross national product during the previous calendar year. Stipulates that if the inflation rate exceeds three percent annually the increase in total outlays shall be reduced by one-fourth the difference between the inflation rate and three percent. Requires any surplus in total revenues received by the Government to be used to reduce the public debt. Allows the limit on total outlays to be changed by a three-quarters vote of both Houses of Congress, or to meet an emergency declared by the President. Continues Federal aid programs to States and local governments for a period of six years. Prohibits Congress authorizing any United States agency from requiring that a State or local government engage in additional or expanded activities without compensation equal to the additional costs.
United States · United States Congress · 2 August 1979
Constitutional Amendment - Limits the increase of total budget outlays of the United States Government during any fiscal year to a percentage equal to the percentage increase in the gross national product during the previous calendar year. Stipulates that if the inflation rate exceeds three percent annually the increase in total outlays shall be reduced by one-fourth the difference between the inflation rate and three percent. Requires any surplus in total revenues received by the Government to be used to reduce the public debt. Allows the limit on total outlays to be changed by a three-quarters vote of both Houses of Congress, or to meet an emergency declared by the President. Continues Federal aid programs to States and local governments for a period of six years. Prohibits Congress from authorizing any United States agency to require that a State or local government engage in additional or expanded activities without compensation equal to the additional costs.
United States · United States Congress · 2 August 1979
Amends the Internal Revenue Code to provide that excess business holdings of private foundations (more than 20 percent of a corporation's stock) which were grandfathered by the Tax Reform Act of 1969 will not be deemed to be increased through the operation of the constructive ownership rules governing the acquisition of corporate assets by a controlled corporation if: (1) the acquiring corporation is engaged in an active trade or business; (2) the acquiring corporation's assets are substantial in relationship to the acquired corporation; and (3) the acquiring corporation is not being used by a private foundation as a vehicle to increase its business holdings.
United States · United States Congress · 2 August 1979
Amends the Internal Revenue Code to prohibit any State, or political subdivision thereof, which imposes an income tax on a corporation from taking into account any amount of income belonging to, or attributable to, any foreign corporation which is also a member of an affiliated group to which the domestic corporation belongs, unless such amount is subject to Federal income tax. Prohibits any State, or political subdivision thereof, from taxing or otherwise taking into account a certain percentage (determined according to specified formulae) of any dividend received by a corporation from a foreign corporation (or by a domestic corporation treated as having received such a dividend). Allows such State, or political subdivision, to take into account only a tax for which a Federal foreign tax credit would be allowed.
United States · United States Congress · 1 August 1979
Employees Incentive Ownership Act of 1979 - Amends the Internal Revenue Code to remove restrictions on the use of restricted stock options and to eliminate the exercise of such stock options as an item of tax preference for purposes of the minimum tax.
United States · United States Congress · 1 August 1979
Bankruptcy Tax Act of 1979 - Amends the Internal Revenue Code to exclude from gross income amounts of indebtedness which are discharged either pursuant to bankruptcy, when the taxpayer is insolvent (but only to the extent of such insolvency), or in cases of business indebtedness. Requires the reduction of specified tax attributes by the amount of discharged indebtedness which is excluded from gross income. Specifies that such tax attributes shall be: (1) net operating loss carryovers; (2) carryovers of the investment tax credit, work incentive (WIN) credit, and new jobs credit; (3) capital loss carryovers; and (4) the basis of the debtor's assets, but the basis of such assets shall not be reduced below the basis in the debtor's remaining undischarged liabilities. Provides that the reduction of such tax attributes shall be effected after the determination of the tax imposed upon the debtor is made. Requires the reduction of the basis of business assets of a taxpayer whose qualified business indebtedness has been discharged. Defines "qualified business indebtedness" as indebtedness assumed by a corporation or an individual in connection with property used in a trade or business. Prohibits the exclusion from gross income of amounts of discharge which would reduce or be offset by any net operating loss, or would increase any tax credit otherwise allowable. Sets forth rules for determining when income is attributable to a debtor from the discharge of qualified business indebtedness. Sets forth rules for the income tax treatment of the bankruptcy estate of an individual with respect to: (1) the allocation of income and deductions between the debtor and the estate; (2) the computation of the estate's taxable income; (3) accounting methods and periods; (4) the treatment of the estate's administration costs as deductible expenses; (5) the carryover of tax attributes between the debtor and the estate; and (6) requirements for filing and disclosure of returns. Provides for the treatment of insolvency reorganizations on the same basis as other types of corporate reorganizations for purposes of determining the taxability of the gain arising from such transactions. Treats property which is received in an insolvency reorganization and which is attributable to the payment of accrued interest as ordinary income. Permits the estate of an individual debtor to qualify as an eligible shareholder in a Subchapter S corporation. Suspends the running of the statute of limitations on assessments and collection of tax during the pendency of bankruptcy cases and for specified periods thereafter. Permits the trustee of a debtor's estate to intervene in any proceeding before the Tax Court to which the debtor is a party. Relieves a debtor's estate from the imposition of certain penalties for failure to pay tax if: (1) such failure follows a judicial determination of probable insufficiency of funds of the estate to pay administrative expenses; or (2) such tax was incurred before the earlier of an order for relief or the appointment of a trustee, and the petition in bankruptcy was filed before the due date for the filing of the tax return, or the date for making the addition to the tax occurs on or after the day on which the petition is filed. Limits provisions requiring the immediate assessment of tax liability to receivership proceedings and certain bankruptcy proceedings of individual debtors.
United States · United States Congress · 1 August 1979
Tax Relief Act of 1979 - Title I: Individual Income Tax Reductions - Amends the Internal Revenue Code to reduce individual and estate and trust income tax rates for 1979 and to make permanent reductions for succeeding years. Provides for cost-of-living adjustments to individual income tax brackets and to the amount of the personal exemption. Provides that the amount of the personal exemption and the zero bracket amount applicable to a taxpayer shall determine whether such taxpayer is required to file an income tax return. Title II: Capital Cost Recovery - Revises the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Allows a ten percent investment tax credit for buildings and tangible property, and a six percent credit for automobiles, taxis, and light duty trucks. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year. Title III: Reduction of Payroll Taxes and Long-Range Financial Strengthening of the Social Security System - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to repeal the special increases in the contribution and benefit base, for purposes of determining amount of tax liability, for 1979 through 1981. Limits contribution and benefit bases to a maximum $22,900 in 1979 and 1980. Makes reductions in the social security tax rate and sets forth the tax rate through year 2010. Provides for the partial funding of title XVIII (Medicare), part A (Hospital Insurance Benefits for the Aged and Disabled) of the Social Security Act from general revenues.
United States · United States Congress · 27 July 1979
Consumer Checking Account Equity Act of 1979 - Amends the Federal Reserve Act and the Federal Deposit Insurance Act to authorize member banks in the Federal Reserve System and federally insured nonmember banks to make automatic funds transfers from a savings deposit to a demand deposit pursuant to the written authorization of the depositor to make such transfers in connection with checks or drafts drawn upon the bank. Authorizes federally insured banks and savings and loan associations, State banks and savings and loan associations, savings banks, and mutual savings banks to offer interest-bearing deposits or accounts upon which the depositor may make withdrawals by negotiable instrument for the purpose of making transfers to third parties (NOW accounts). Stipulates that such deposits or accounts may only be held by individuals or nonprofit organizations. Amends the Home Owners' Loan Act of 1933 to permit Federal savings and loan associations and Federal mutual savings banks to establish remote service units pursuant to regulations of the Federal Home Loan Bank Board. Authorizes such associations to extend loans directly related to negotiable order of withdrawal accounts. Amends the Federal Home Loan Bank Act to require any institution which has subscribed for the stock of a Federal Home Loan Bank to maintain reserves against its negotiable order of withdrawal accounts pursuant to regulations prescribed by the Board after consultation with the Board of Governors of the Federal Reserve System. Prescribes the required form of such balances. Amends the Federal Credit Union Act to permit insured credit unions to offer share draft deposits to individuals and nonprofit organizations in accordance with regulations prescribed by the National Credit Union Administration Board. Requires each Federal credit union to maintain reserves against such deposits in amounts and forms prescribed by the Board after consultation with the Board of Governors of the Federal Reserve System.
United States · United States Congress · 26 July 1979
Campaign Contribution Reform Act of 1979 - Amends the Federal Election Campaign Act of 1971 to prohibit any multicandidate political committee (other than a multicandidate committee of a political party) from making contributions to a candidate for the office of Representative in, or Delegate or Resident Commissioner to, the Congress and his or her authorized committees which in any calendar year exceeds: (1) $5,000 with respect to any general or special election and a primary election relating to such election; or (2) $7,500 (but not more than $5,000 for one election) with respect to a general or special election and both a primary and runoff election relating to such election. Prohibits a candidate for the office of Representative in, or Delegate or Resident Commissioner to, the Congress or any authorized political committee from accepting contributions from political committees, other than committees of a political party, aggregating more than $50,000 in any calendar year, except in the case of a candidate who is a candidate in a general election and a special election, such candidate may accept such contributions aggregating: (1) $50,000 with respect to such general and any primary election relating to such general election; and (2) $50,000 with respect to such special election and any primary election relating to such special election. Specifies that any contribution made in a year, other than the calendar year in which the election is held, is considered to be made in the calendar year in which such election is held, and any contribution made after the date of such election shall be considered a contribution with respect to such election only if such contribution is used to pay obligations incurred with respect to such election. Specifies that any extension of credit for goods or services relating to advertising on broadcasting stations, in newspapers or magazines, by direct mail or other similar types of general public political advertising shall be considered a contribution, if such extension of credit is: (1) in an amount of more than $1,000; and (2) for a period of more than 30 days.
United States · United States Congress · 26 July 1979
Establishes the Citizen's Commission for the Commemoration of the Federal Government Bicentenary Era to: (1) stimulate interest in the events relating to the development of the Federal Government during the years of 1776 through 1800; and (2) provide and coordinate activities to commemorate those events. Requires the Commission to submit to the President, Congress, and the Chief Justice of the United States an annual report on the activities and accounting of funds of the Commission. Requires a final report to be submitted by June 30, 2001. Terminates the Commission on the date the final report is submitted.
United States · United States Congress · 19 July 1979
Amends the Internal Revenue Code to treat property which is placed in service after December 31, 1982, as energy property, for purposes of the investment tax credit, if such property qualifies as energy property and if the taxpayer is affirmatively committed on that date to its construction, reconstruction, erection, or acquisition. Defines "affirmative commitment" as: (1) the completion of detailed engineering studies and the application for construction permits of licenses with local authorities; (2) the entry into a written, binding contract for the commencement of construction, reconstruction, or erection, or for the acquisition of the property; or (3) the placement of purchase orders for the acquisition of at least 50 percent of the total cost of all items of permanent equipment necessary for the construction, reconstruction, or erection of the property.
United States · United States Congress · 13 July 1979
Farm Credit Act Amendments of 1979 - Title I: Federal Land Banks and Associations - Amends the Farm Credit Act of 1971 to authorize any Federal land bank, under the supervision of the Farm Credit Administration, to: (1) participate in loans with other Farm Credit System institutions (i.e., Federal land banks, Federal land bank associations, Federal intermediate credit banks, production credit associations, and banks for cooperatives); (2) participate in loans which the land banks are authorized to make with lenders which are not Farm Credit System institutions; (3) sell interests in loans to such lenders; (4) buy from and sell to Farm Credit System institutions interests in loans, other extended financial assistance, and nonvoting stock; (5) make other investments; (6) accept contributions to their capital from Federal land bank associations; (7) enter into agreements with other Farm Credit System institutions to share loan and other losses; (8) issue nonvoting stock to borrowers as a patronage refund; and (9) make or participate with other lenders in long-term real estate mortgage loans not exceeding 85 percent of the appraised value of the real estate security. Makes producers and harvesters of aquatic products eligible for Federal land bank services. Authorizes Federal land bank associations to make capital contributions to a Federal land bank. States that a member of a Federal land bank association need not make the required purchases of land stock with respect to that part of a loan derived from a lender which is not a Farm Credit System institution. Authorizes the Federal land bank associations to pay dividends on a differential basis between different classes and issues of stock and participation certificates corresponding to the value of such classes and issues to the capital or earnings of the Federal land bank in its district. Permits the Federal land bank associations to agree to share loan and other losses with other Farm Credit System institutions. Title II: Federal Intermediate Credit Banks and Production Credit Associations - Authorizes the Federal Intermediate Credit Banks, subject to the supervision of the Farm Credit Administration, to: (1) buy from and sell to Farm Credit System institutions interests in loans, other extended financial assistance and nonvoting stock; (2) make other investments; (3) agree to share loan and other losses with other Farm Credit System institutions; (4) participate with other Farm Credit System institutions in making loans; and (5) issue nonvoting stock to such institutions. Authorizes the Federal intermediate credit banks to discount for, or purchase from other financial institutions loans made to producers and harvesters of aquatic products. Permits any Federal intermediate credit bank to transfer more than 2.5 percent of its net earnings after expenses to its allocated reserve account (presently, not more than 25 percent of such earnings may be transferred to this account). Authorizes each production credit association, subject to the supervision of the intermediate credit bank in its district and the Farm Credit Administration, to: (1) buy from and sell to any bank in the Farm Credit System interests in loans, other financial assistance extended, and nonvoting stock; (2) participate in loans with other Farm Credit System institutions; (3) agree to share loan and other losses with other Farm Credit System Institutions; (4) issue participation certificates to eligible borrowers in lieu of nonvoting stock; and (5) issue participation certificates or nonvoting stock to any financial institution outside the Farm Credit System with which the association participates in a loan in satisfaction of the requirement that a borrower own such stock or participation certificates. Requires a borrower to own only that amount of stock or participation certificates which is proportionate to that portion of a loan retained by a production credit association when it participates with another lender in making a loan. Authorizes the production credit association to extend loan assistance to bona fide farmers, ranchers, and producers and harvesters of aquatic products for basic processing and marketing directly related to the borrower's operations. Title III: Banks and Cooperatives - Empowers each bank for cooperatives, subject to the supervision of the Farm Credit Administration, to: (1) participate with other Farm Credit System institutions in making loans; (2) deposit its securities and current funds with any domestic or foreign financial organization (presently, such deposits must be made at a member bank in the Federal Reserve System); (3) buy and sell bankers acceptances which are obligations of member banks in the Federal Reserve System; (4) buy and sell other obligations including those which arise in the course of transactions which the bank has assisted through loans; (5) buy from and sell to Farm Credit System institutions interests in loans, other financial assistance extended and nonvoting stock; (6) make other investments; (7) invest in foreign and domestic business entities to facilitate the obtaining of credit information and the performance of services related to international transactions; (8) maintain credit balances to assist in the transfer of funds between parties to authorized transactions; (9) agree to share loan and other losses with other Farm Credit System institutions; and (10) issue participation certificates to parties who may not be issued voting stock. Requires all participation certificates, voting and nonvoting stock issued by the banks for cooperatives to be retired at par value. Authorizes the banks for cooperative to: (1) offer a currency exchange for eligible cooperative associations; and (2) extend loans, loan participation commitments, and other technical and financial assistance to any domestic or foreign party in which a member cooperative has an ownership interest or which engages with the cooperative in dealings in agricultural or aquatic products, farm supplies or the lease of property, provided such assistance substantially benefits the member cooperative. Enables cooperatives solely engaged in furnishing aquatic business services to borrow from the banks for cooperatives. Reduces the degree of ownership in a cooperative which must be held by farmers, producers or harvesters of aquatic products, or other cooperative associations in order to make such a cooperative eligible to borrow from a bank for cooperatives. Requires a bank for cooperatives to retire any equity held by a borrower in default or dissolution at fair market value not to exceed the par value of the equity interest of the borrower. Prohibits the retirement or cancellation of such an equity interest if the bank's capital structure would be adversely affected. Permits each bank for cooperatives to transfer more than 25 percent of its net annual savings to a surplus account. Authorizes the banks for cooperatives to pay patronage refunds to borrowers in the form of participation certificates. Title IV: Provisions Applicable to Two or More Classes of Institutions of the System - Declares that interest rates established by the Farm Credit Administration for loans made by Farm Credit System institutions shall preempt any interest rate limitation imposed by State law. States that when two or more Farm Credit System institutions participate in a loan as authorized by this Act, the terms of such loan shall be those agreed upon by the institutions. Requires that such factors as borrower eligibility, membership, term, amount, loan security and purchase of stock or participation certificates by the borrower are to be governed by the provisions of law applicable to the institution originating the loan. Exempts credit transactions of Farm Credit System institutions from the provisions of any State statute or any other law or regulation which impose, with regard to a credit transaction, any duty or requirement which had been imposed by the Truth in Lending Act before amendment. Authorizes the institutions of the Farm Credit System to organize corporations to perform non-lending functions and services which such institutions are authorized to perform. Empowers the Governor of the Farm Credit Administration to review and revise the charters of such corporations. States that such corporations shall be subject to supervision and examination by the Administration. Title V: District and Farm Credit Administration Organization - Revises the process for the election of farm credit district directors by reducing from three to two the number of nominees in the election poll. Establishes the rate of compensation for the Federal Farm Credit Board at the daily equivalent of the rate prescribed for grade GS-18 of the General Schedule. Authorizes the Board to fix the salary of the Governor of the Farm Credit Administration at any level not exceeding the maximum rate of basic pay in the Executive Schedule. Authorizes the Governor to appoint Deputy Governors to provide assistance in the functioning of the Farm Credit Administration. Exempts the Administration from provisions of Federal law relating to appointments in the competitive civil service, travel expenses, allowances, procurement, and property disposition. Credits employees of Farm Credit System institutions with specified leave and retirement benefits when they are transferred to Federal service in the Farm Credit Administration.
United States · United States Congress · 11 July 1979
Amends the Internal Revenue Code to repeal provisions which require tax-exempt private foundations with assets of $5,000 or more to make annual reports of their receipts and expenditures. Requires that information previously required by such annual reports be included in the foundation's annual tax return. Imposes the same reporting requirements on non tax-exempt charitable trusts and private foundations. Requires that such returns be opened to public inspection and imposes a fine for failure to do so. Permits private foundations to treat as confidential, and not to list on their tax returns, the name and address of any indigent or needy recipient of charitable gifts or grants amounting to $1,000 or less during the taxable year. Permits certain Government officials to accept payment from private foundations of limited traveling expenses between a point in the United States and a point outside the United States without being subject to the tax on self-dealing. Provides that charitable contributions attributable to charitable corporate trusts shall be treated as deductions from gross income for purposes of determining the minimum tax liability for adjusted itemized deductions. Permits the voluntary withholding of income taxes from sick pay under employer wage continuation plans. Excludes from gross income repayments of unemployment benefits, in the year of repayment, to a supplemental unemployment compensation trust which are required because of trade adjustment allowances under the Trade Act of 1974. Permits State taxing authorities which receive Federal tax return information to disclose such information to a State auditing agency for the purpose of auditing the tax authorities. Qualifies property used by the International Telecommunications Satellite Consortium, the International Maritime Satellite Organization, and any successor organizations, for the investment tax credit. Amends the Second Liberty Bond Act to allow the interest rates paid on United States retirement plan and individual retirement bonds to be increased so that the investment yield on such bonds is consistent with the yield on new offerings of such bonds.
United States · United States Congress · 11 July 1979
Amends the Internal Revenue Code to permit the exclusion from gross income of interest earned on industrial development bonds which are used to refund any obligation for which such bonds may be issued under the Internal Revenue Code. Sets forth transitional rules for industrial development bonds issued prior to certain specified dates.
United States · United States Congress · 10 July 1979
Amends the Internal Revenue Code to provide to tire manufacturers excise tax credits or refunds for tread rubber where tax-paid tread rubber is: (1) destroyed or wasted in the recapping or retreading process; (2) used in the recapping or retreading of tires the sales of which are later adjusted under a warranty or guarantee; or (3) used in the recapping or retreading of tires which are exported, used, or sold as supplies for vessels or aircraft, sold to State or local governments, or sold to nonprofit educational institutions. Provides for excise tax credits or refunds on retreaded tires which have been sold by a subsequent manufacturer on or in connection with another article manufactured by him, and exported or sold for specified purposes. Provides that the period for allowing a credit or making a refund for tire tax or tread rubber tax filed as a result of a warranty or guarantee adjustment shall be one year from the date on which the adjustment is made. Provides that tires which are exported from the United States, recapped, or retreaded outside the United States and imported into the United States shall be taxed as imported tread rubber to the extent that such rubber is used in the recapping or retreading.
United States · United States Congress · 27 June 1979
Capital Cost Recovery Act of 1979 - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Allows a ten percent investment tax credit for buildings and tangible property, and a six percent credit for automobiles, taxis, and light duty trucks. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits 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 · 21 June 1979
Department of Commerce and International Trade Organization Act - Title I: Findings and Purposes - Enumerates the following functions of the Department of Commerce: (1) the promotion of U.S. exports; (2) the analysis of information on commercial trends; (3) the provision of trade opportunities for U.S. businesses; (4) the coordination of Government programs having impact on international trade; (5) the administration of export controls; (6) the dissemination of information on imports; and (7) the assurance of adequate supplies of materials critical to national security or the nations economy. Vests in the Special Representative for Trade Negotiations the functions of directing trade negotiations, coordinating U.S. trade law and policy, implementing trade agreements, and monitoring international energy negotiations. Title II: Reorganization of International Trade Functions - Redesignates the Department of Commerce as the Department of Commerce and International Trade. Provides for the appointment within such Department of an Under Secretary for International Trade and an Under Secretary for Domestic Commerce. Redesignates the Secretary of Commerce as the Secretary of Commerce and International Trade. Directs the Secretary to: (1) oversee the collection and dissemination of information concerning domestic and international trade; (2) conduct a joint study with specified Federal agencies regarding international trade; and (3) consult and cooperate with State and local governments. Transfers to the Secretary specified functions of: (1) the Department of State; (2) the Department of the Treasury; (3) the Office of the Special Representative for Trade Negotiations; (4) the International Trade Commission; (5) the Secretary of Labor; and (6) the Secretary of the Interior. Transfers to and establishes within the Department: (1) the Export-Import Bank; (2) the Overseas Private Investment Corporation; and (3) the International Trade Commission. Transfers specified State Department functions to the Special Representative for Trade Negotiations. Title III: Miscellaneous Provisions - Sets forth administrative provisions concerning the appointment and transfer of personnel and the reorganization of the Department. Requires the Director of the Office of Management and Budget to do that which is necessary to carry out this Act. Requires the Secretary to report annually to the President for submission to Congress concerning the Department's activities. Authorizes appropriations as necessary to carry the functions of this Act.
United States · United States Congress · 14 June 1979
Family Welfare Improvement Act - Amends part A (Aid to Families with Dependent Children) of title IV of the Social Security Act to set forth a new formula for determining the amount of payments to a State under such part. Provides: (1) for an annual cost-of-living increase in such amount; and (2) that such amount shall be changed in accordance with a State's population increase or decrease. Directs the Secretary of the Treasury to pay to each State with an "excess unemployment percentage" greater than zero, as determined according to this Act, a supplemental grant based on a specified formula. Permits a State to require any individual whose needs are taken into account in determining AFDC eligibility to work as a condition of AFDC eligibility. Establishes a five year, eight State demonstration project in which payments made to participating States pursuant to the AFDC program may be used without regard to the requirements and limitations otherwise applicable under the AFDC program. Directs the Advisory Council on Intergovernmental Relations to report to the Secretary of Health, Education, and Welfare concerning such project.
United States · United States Congress · 14 June 1979
Amends title XVIII (Medicare) of the Social Security Act to define terms and establish personnel qualifications pertaining to home health agencies. Sets forth the following conditions of participation by a home health agency in the Medicare program: (1) that the agency and its staff comply with all Federal, State, and local laws and regulations; (2) that organization, services provided, administrative control, and lines of authority for the delegation of responsibility down to the patient care level be clearly set forth in writing and readily identifiable; (3) that a group of professional advisory committee representatives of the service provided by the agency establish, annually review, and make recommendations to the agency's governing board concerning the agency's policies governing the scope of services offered, admission and discharge policies, medical supervision and plans of treatment, emergency care, clinical records, personnel qualifications, and program evaluation; (4) that the agency have written policies requiring an overall evaluation of the agency's total program annually by the group of professional personnel, home health agency staff, and consumers, or by professional people outside the agency working in conjunction with consumers; (5) that patients be accepted for treatment on the basis of a reasonable expectation that the patients' medical, nursing, and social needs can be met adequately by the agency in the patients' place of residence; (6) that care follow a written plan of treatment established and periodically reviewed by a physician; (7) that the agency provide, skilled nursing services, by or under the supervision of a registered nurse and in accordance with the plan of treatment; (8) that any therapy services offered by an agency be given by a qualified therapist or therapist assistant under the supervision of a qualified therapist in accordance with the plan of treatment; (9) that medical social services, when provided, must be given by a qualified social worker or social worker assistant under the supervision of a qualified social worker and in accordance with the plan of treatment; (10) that home health aides be selected pursuant to standards set forth in this Act, and be closely supervised to assure their competence; and (11) that a clinical record written by the individuals who provide services and containing pertinent and current findings in accordance with accepted professional standards be maintained for every patient.
United States · United States Congress · 13 June 1979
Amends the Internal Revenue Code to permit common carriers by railroad (including a railroad switching company or a terminal company) to use the retirement-replacement-betterment method of accounting for determining depreciation allowances for income tax deduction purposes.
United States · United States Congress · 13 June 1979
Generated Electricity Tax Equity Act of 1979 - Amends present Federal law to prohibit the taxation by a State with respect to the generation or transmission of electricity within that State which is transmitted to, and consumed in, another State.
United States · United States Congress · 6 June 1979
Replacement Motor Fuels Act of 1979 - Directs the Secretary of Energy to establish a program to promote the development and use of replacement fuels in the United States to replace gasoline used as a motor fuel with replacement motor fuel containing the maximum percentage of alcohol, or other liquid produced from coal, oil, shale, or other substances as is economically and technically feasible. Directs the Secretary to determine with respect to replacement fuels: the most suitable raw materials for their production, the nature of the distribution systems and production processes of such fuels, the technical and economic feasibility of including liquids extracted from oil shale and coal in such program, and the technical and economic feasibility of reaching goal of replacing 20 percent of the gasoline used as a motor fuel with replacement fuels by the year 1992. Directs the Secretary to set production goals for replacement fuels for each of calendar years through 1981 through 1987. Sets forth the manner of determining the percentage of replacement fuel by volume to be contained in the total quantity of gasoline and replacement fuel sold annually in commerce in the United States in calendar years 1981 through 1990, and directs the Secretary to issue a rule setting the minimum percentage replacement fuel to be sold for year 1981 through 1986 by any refiner. by any refiner. Sets forth provisions for the enforcement of such requirements. Authorizes the appropriation of up to $1,000,000 for fiscal year 1980 to carry out this Act.
United States · United States Congress · 5 June 1979
Congratulates the men and women of the Apollo program upon the tenth anniversary of the first manned landing on the Moon and requests the President to designate the period of July 16 through July 24, 1979, as "United States Space Observance" in honor of such event.
United States · United States Congress · 24 May 1979
Directs the President to furnish to the House of Representatives certain information related to the current oil situation, including data on: (1) shortages, supplies, demand, and allocation of crude oil; and (2) refinery yield reductions and capacity utilization.
United States · United States Congress · 23 May 1979
Amends the Internal Revenue Code to permit distilled spirits plants to be established solely for producing, processing, storing, using, and distributing distilled spirits exclusively for fuel use. Authorizes the Secretary of the Treasury to exempt such distilled spirits plants from the requirements of the Internal Revenue Code pertaining to distilled spirits, wines, and beers (except requirements pertaining to the payment of the excise tax) when necessary to facilitate the production of fuel. Permits distilled spirits to be withdrawn free of tax from the bonded premises of a distilled spirit plant exclusively for fuel use. Prohibits distilled spirits to be withdrawn, used sold, or disposed of for any purpose other than fuel use. Specifies that the term "distilled spirits" does not include distilled spirits produced from petroleum, natural gas, or coal.
United States · United States Congress · 22 May 1979
Amends the Internal Revenue Code to allow income, estate, and gift tax deductions for charitable contributions for the construction or maintenance of buildings to house tax-exempt fraternal organizations.
United States · United States Congress · 17 May 1979
Amends the Internal Revenue Code to exempt an air carrier who sells aircraft to another air carrier from the investment tax credit recapture rules with respect to such aircraft, unless the aircraft ceases to be used exclusively to provide air transportation. Provides that the provisions of this Act shall apply to the sale or exchange of aircraft occurring after December 31, 1977, and before January 1, 1985.
United States · United States Congress · 14 May 1979
Amends the Internal Revenue Code to extend tax-exempt status to veterans' organizations whose membership consists of at least 75 percent past or present members of the Armed Forces of the United States (combat or noncombat veterans), with the remaining membership consisting substantially of cadets or spouses, widows or widowers of Armed Forces personnel or cadets.
United States · United States Congress · 2 May 1979
Subtitle F Revision Act of 1979 - Amends the Internal Revenue Code to provide for the payment of interest to an individual whose property is wrongfully seized by the Internal Revenue Service. Repeals the requirement that an individual who transfers property with a fair market value in excess of $50,000 to a tax-exempt organization must file an informational return detailing such transaction. Repeals provisions of the Internal Revenue Code which require tax-exempt private foundations with assets of $5,000 or more to make annual reports of their receipts and expenditures. Requires that information previously required by such annual reports be included in the foundation's annual tax return. Imposes the same reporting requirements on non-exempt charitable trusts and private foundations. Requires that such returns be opened to public inspection and imposes a fine for failure to do so. Permits private foundations to treat as confidential, and not to list on their tax returns, the name and address of any indigent or needy recipient of charitable gifts or grants amounting to $1,000 or less during the taxable year. Repeals the additional 25 percent tax penalty for taxpayers who attempt to evade payment of taxes by removing their property from the country or concealing it. Repeals provisions which require corporations to file informational returns with respect to stock options granted to their employees. Conforms the due date for gift tax and income tax returns. Grants an automatic extension of time for filing gift tax returns when an extension for filing the donor's income tax return is granted. Requires the disclosure of manufacturers' excise tax information to State tax officials.
United States · United States Congress · 2 May 1979
Amends the Internal Revenue Code to eliminate the requirement that the seller, under an installment sales agreement, receive no more than 30 percent of the selling price in the taxable year of the sale. Requires that the selling price of personal property exceed $3,000 (presently $1,000). Eliminates the requirement that a transaction under the installment sales method must involve two or more payments. Denies installment sales treatment for transactions (except stock redemptions) between related individuals. Requires a decedent's undischarged installment sales obligation to be treated as income in respect of a decedent.
United States · United States Congress · 2 May 1979
Open House Amendments of 1979 - Amends the Rules of the House of Representatives to: (1) direct each standing committee to establish a subcommittee on oversight; (2) direct standing committees to develop an oversight agenda and timetable; (3) direct representatives of the membership of the Committee on Government Operations to meet with majority and minority Members of each House committee to coordinate all of the oversight activities of the House; (4) require the Committee on Standards of Official Conduct to file a written report containing its findings and recommendations for action on each investigation it undertakes; (5) allow the Committee on Standards of Official Conduct to undertake investigations by direction of the House on adoption of a resolution; (6) limit the number of subcommittees that may be established by standing committees to at least four but no more than six (excluding the Committee on Appropriations); (7) require the maintenance of complete public records of all committee action; (8) prohibit proxy votes in committees and subcommittees; (9) provide for open committee meetings unless such meetings are closed by a rollcall vote of a majority of committee Members; (10) permit any committee Member to demand a rollcall vote on any question in committee; (11) require an affirmative rollcall vote of a majority of committee Members to report a measure or recommendation to the House; and (12) require the maintenance of complete public records of all conference committee actions.
United States · United States Congress · 30 April 1979
Sets forth the congressional budget for the United States Government for fiscal year 1980. States that: (1) the recommended level of Federal revenues is $508,200,000,000, and the amount by which the aggregate level of Federal revenues should be decreased is $6,500,000,000; (2) the appropriate level of total new budget authority is $593,800,000,000; (3) the appropriate level of total budget outlays is $532,400,000,000; (4) the amount of the deficit in the budget which is appropriate in the light of economic conditions and all other relevant factors is $15,200,000,000; and (5) the appropriate level of the public debt is $879,100,000,000, and the amount by which the statutory limit on such debt should accordingly be increased is $49,100,000,000. Specifies the appropriate levels of new budget authority and the estimated budget outlays for each major functional category.
United States · United States Congress · 25 April 1979
Amends the Internal Revenue Code to deny a tax exclusion of the interest on State and local mortgage subsidy bonds (except those bonds issued to finance housing for veterans). Defines "mortgage subsidy bonds" as bonds which are issued to provide funding for mortgages on owner-occupied residences. Limits the issuance of industrial development bonds for housing purposes to low-or moderate-income rental housing.
United States · United States Congress · 10 April 1979
Soft Drink Interbrand Competition Act - Declares that exclusive territorial arrangements made as a part of a licensing agreement for the manufacture, distribution, or sale of a trademarked soft drink product are lawful under the antitrust laws provided such product is in substantial and effective competition with other products of the same general class. Prohibits recovery in private actions under the Clayton Act based on territorial provisions in a trademark licensing agreement prior to a final determination that such provisions are unlawful.
United States · United States Congress · 9 April 1979
Amends the Internal Revenue Code to extend until December 31, 1979, the date by which taxpayers must comply with requirements for the exclusion from gross income of rollovers of lump sum distributions from certain tax-exempt pensions, annuities, or other retirement plans.
United States · United States Congress · 5 April 1979
Oil Deregulation Tax Act of 1979 - Amends the Internal Revenue Code to impose upon producers of domestic crude oil an excise tax on price increases resulting from deregulation. Sets the rate of such tax at 25 percent of the price increase on each barrel of taxable crude oil. Exempts oil producers whose production does not exceed 1,200 barrels multiplied by the number of days in a taxable period from the tax. Allows oil producers a nonrefundable credit against the deregulation tax for: (1) intangible drilling and development costs; (2) geological and geophysical costs; (3) expenditures for oil exploration and production equipment; and (4) secondary or tertiary recovery of oil or gas. Provides for a carryover of credit amounts which exceed the amount of deregulation tax in any taxable period. Requires oil producers to maintain such records with respect to oil production as the Secretary of the Treasury may require. Specifies that deregulation tax returns must be filed not later than the fifteenth day of the third month following the close of the taxable period. Requires the purchaser of taxable crude oil to furnish to the individual responsible for the payment of the deregulation tax a monthly statement containing information with respect to: (1) the amount of taxable crude oil purchased during such month; (2) the removal price of such oil; (3) the pre-decontrol ceiling price of such oil; (4) the amount of the producer's deregulation tax liability; and (5) other information which the Secretary may require. Imposes fines and criminal penalties for willful failure to provide such information. Requires each partnership, estate, and trust producing domestic crude oil for any taxable period to furnish to each partner or beneficiary a written statement showing: (1) the name of such partner or beneficiary; (2) information received by the partnership, trust, or estate from the purchaser of crude oil; (3) the total amount of energy investment made by such partnership, trust, or estate during a taxable period; (4) each partner's or beneficiary's share from the sale of crude oil; and (5) other information which the Secretary may require.
United States · United States Congress · 3 April 1979
Convention on Cultural Property Implementation Act - Authorizes the President to enter into agreements with countries, which are parties to the "Convention on the means of prohibiting and preventing the illicit import, export, and transfer of ownership of cultural property," to apply import restrictions on the archaeological or ethnological materials of requesting countries. Directs the President to seek a commitment of the requesting country to permit the exchange of such materials. Requires the President to report to Congress concerning such agreements. Authorizes the President to apply import restrictions if it is determined that an emergency condition applies with respect to such materials. Directs the Secretary of the Treasury to promulgate a list of the archaeological or ethnological materials covered by such agreements or emergency actions. Establishes a Cultural Property Advisory Committee to review requests and recommend whether an agreement should be consummated or an emergency action implemented. Requires the Committee to review the effectiveness of such agreements or emergency actions. Prohibits the importation into the United States of: (1) designated archaeological or ethnological materials unless the appropriate country issues a document of lawful exportation; or (2) cultural articles stolen from a museum or a religious or secular institution. Sets forth procedures for temporary disposition, seizure, and forfeiture of articles under this Act. Exempts certain articles from this Act.
United States · United States Congress · 29 March 1979
Amends the Federal Water Pollution Control Act to extend the period from 24 to 36 months that funds allotted to a State for construction of treatment works shall remain available for obligation by the State.
United States · United States Congress · 28 March 1979
Fish and Wildlife Conservation Act of 1979 - Establishes a program of financial and technical assistance to States for the development, revision, and implementation of fish an wildlife conservation plans and for implementation of nongame fish and wildlife conservation actions. Stipulates that the Secretary of the Interior may not disapprove any such plans or actions for specified reasons unless implementation would threaten the natural stability or continued viability of animals concerned. Makes States eligible for matching funds under the existing fish and wildlife restoration programs if their plans are approved by the Secretary. Directs the Secretary to reimburse eligible States for costs incurred in connection with conservation plans and actions. States that nothing in this Act shall effect State regulation of fish and wildlife or the authority of the Secretary of Agriculture to control predatory or wild animals. Prohibits the use of funds made available to States to acquire land except from willing sellers.
United States · United States Congress · 21 March 1979
Export Administration Act of 1979 - Establishes a National Export Administration Board and an Export Administration Review Council composed of the Secretaries of Commerce, Defense, and State and their designated representatives. Requires the Secretary of Commerce: (1) to maintain the organizational and procedural arrangements to support the Board; and (2) issue rules providing for validated and general export licenses. Sets forth the procedures for the adoption of rules and validated license applications. Directs the President to prohibit compliance with or support of any foreign boycott against a country which is friendly to the United States. Requires people receiving a request for compliance with such a boycott to report such request to the Secretary of Commerce. Provides criminal and civil penalties for violations of this Act. Authorizes the head of any department or agency exercising and function under this Act or the Export Control Act of 1949 to make such investigations as are necessary. Prohibits the disclosure of confidential information. Exempts this Act from specified provisions concerning administrative procedure and judicial review. Requires the Secretary of Commerce to report annually to Congress concerning the administration of this Act. Authorizes appropriations through fiscal year 1981.
United States · United States Congress · 19 March 1979
Declares the need to develop a national emergency energy plan. Authorizes and directs the President to submit to Congress an emergency plan to designate a specific person or entity within the executive branch charged with the responsibility and given the authority: (1) to expedite administrative decisions with regard to all aspects of energy production, transmission, distribution, transportation, and use; (2) to cut through regulations when necessary; (3) to increase domestic energy production; (4) to promote the earliest possible use of new energy technologies and sources; (5) to enhance available energy supply; and (6) to make the Nation self-sufficient in energy.
United States · United States Congress · 13 March 1979
Tax Control Act of 1979 - Amends the Budget and Accounting Act, 1921, to direct the President, beginning in fiscal year 1981, to submit a statement to the Congress with the annual budget on anticipated increases in total Federal revenues for the ensuing fiscal year attributable to inflation, growth of the gross national product, existing legislation, and proposed tax increases. Requires such statement to estimate the impact of such increases on taxpayers according to income level and family size and include any recommendations deemed appropriate. Amends the Congressional Budget Act of 1974 to require the Committee on Ways and Means of the House and the Committee on Finance of the Senate to report to the House and Senate by March 1 of each year a concurrent resolution on taxes establishing a ceiling on Federal revenues for the ensuing fiscal year. Directs the Congress to complete action on such resolution by March 15 of each year. Sets forth provisions governing the solicitation of the views of committee members, hearings, the committee reports, and the consideration of such resolution by the Congress. Requires the adoption of the concurrent resolution on taxes for each fiscal year before either House of Congress may consider the first concurrent resolution on the budget for such year. Prohibits the level of Federal revenues in both the first and second concurrent resolutions on the budget from exceeding the ceiling established by the concurrent resolution on taxes.
United States · United States Congress · 8 March 1979
Deep Seabed Hard Mineral Resources Act - Title I: Regulation of Exploration and Commercial Recovery by United States Citizens - Disclaims extraterritorial sovereignty by the United States over deep seabeds. Prohibits any United States citizen from engaging in exploration or commercial recovery unless authorized: (1) under a license issued pursuant to this Act; (2) under a license issued by a reciprocating state; or (3) pursuant to an international agreement. Permits the continuation of existing exploration upon timely application for such license. Prohibits interference with the activities of a licensee under this Act. Stipulates activities which are exempted from this Act. Sets forth procedures for the issuance of, and limitations upon, licenses for exploration and commercial recovery under this Act. Declares any United States citizen eligible for a license for exploration. Establishes a formula for the determination of priority of right for issuance. Sets forth findings which must be made prior to issuance of a license of exploration or commercial recovery. Permits modifications or suspension of operations upon order of the Secretary of Commerce. Provides for an antitrust review by the Attorney General and the Federal Trade Commission of any such license application. Stipulates procedures and effects of denial, suspension, or revocation of a license. Directs the Secretary to issue regulations for the implementation of this Act. Directs the Secretary to prepare an environmental impact statement with respect to the areas likely to be developed by United States citizens. Specifies criteria for the size of areas of exploration or commercial recovery. Requires the Secretary to impose performance requirements upon licensees. Permits relinquishment or surrender of such licenses. Requires certain record keeping, environmental impact statements, navigational safety procedures and disclosure by licensees. Prohibits licensees from interfering with reasonable uses of the seas. Permits the Secretary to monitor exploration or commercial recovery operations. Permits the President to designate "reciprocating states" as defined by this Act. Title II: Transition to International Agreement - Declares the intent of Congress regarding any international seabed agreements to which the United States may become a party to be: (1) to provide reasonable access to the deep seabed mineral resources for United States citizens; and (2) to recognize certain continuing seabed mining rights of United States citizens who have begun such mining operations prior to any such international agreement. Sets forth the effect upon specified provisions of this Act resulting from subsequent international agreements. Title III: Civil Penalties, Criminal Offenses, and Miscellaneous Provisions - Makes unlawful violations of this Act. Establishes civil and criminal penalties for such violations. Directs the Secretary of Commerce to enforce this Act. Makes vessels in violation of this Act liable in rem for such violation. Title IV: Tax - Deep Seabed Hard Mineral Removal Tax Act of 1978 - Amends the Internal Revenue Code of 1954 to impose a tax on the removal of hard mineral resources from the deep seabed. Establishes in the United States Treasury a Deep Seabed Revenue Sharing Trust Fund.
United States · United States Congress · 8 March 1979
Voting Rights Act Repealer Amendments Act of 1979 - Amends the Voting Rights Act of 1965 to repeal the prohibitions against voting qualifications, prerequisites, tests, or devices which abridge the right of a citizen to vote who is a member of a language minority. Repeals bilingual election requirements that States and other political subdivisions make available registration and voting materials, and voting assistance in languages other than English in areas where more than five percent of the citizens belong to a single language minority.
![Official portrait of Rep. Conable, Barber B., Jr. [R-NY-30]](https://www.congress.gov/img/member/c000666_200.jpg)