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United States · Official source
955 records where Rep. Conable, Barber B., Jr. [R-NY-30] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 26 January 1977
Amends the Internal Revenue Code to allow employers a limited, nonrefundable tax credit for additional employment provided new or previously employed workers during taxable years beginning before 1981 and ending 1976.
United States · United States Congress · 26 January 1977
Adds Rule XLV to the Rules of the House of Representatives, allowing continuous television and radio coverage of House floor proceedings. Makes the Speaker responsible for the implementation of this Rule. Establishes a Broadcast Advisory Board to assist the Speaker. Makes it the general responsibility of the Clerk to make provision for such coverage. Stipulates that this Rule shall not apply with respect to joint sessions of the House and Senate. Provides all television and radio broadcasting stations, networks, services and systems in the United States and its territories with access to all of the live coverage of the proceedings of the House. Restricts use of coverage to legitimate news or research purposes. Stipulates that broadcast shall be presented without commercial sponsorship. Prohibits coverage provided under this Rule from use as partisan political campaign material.
United States · United States Congress · 26 January 1977
Disapproves the recommendations of the President transmitted to Congress, pursuant to the Federal Salary Act of 1967, recommending rates of pay for: (1) the Vice President, Members of Congress and the Resident Commissioner from Puerto Rico; (2) specified positions in the legislative branch; (3) specified judicial personnel; (4) specified positions under the Executive Schedule; and (5) the Board of Governors of the United States Postal Service.
United States · United States Congress · 26 January 1977
Amends the Rules of the House of Representatives to require a roll call vote on demand of any committee member on any question before the committee and on every motion to report any bill or resolution of a public character.
United States · United States Congress · 26 January 1977
Amends rule XI of the Rules of the House to require that all committee meetings, including meetings for the mark-up of legislation, shall be open to the public, except when the committee determines in open session by roll call vote that the disclosure of the matter to be considered would endanger national security or violate any law or rule of the House of Representatives.
United States · United States Congress · 26 January 1977
Amends rule XXVII of the Rules of the House of Representatives to direct that it shall not be in order to entertain a motion to suspend the rules to consider any measure or matter unless the committee having jurisdiction over the measure or matter, by roll call vote, a majority being actually present, authorizes consideration of the measure or matter under a suspension of the rules, or if a written request has been filed with the Speaker by the chairman and ranking minority member of the committee having jurisdiction over the measure or matter, asking for its consideration under a suspension of the rules.
United States · United States Congress · 26 January 1977
Amends rule XIV of the Rules of the House of Representatives to require that an accurate account of words actually spoken on the floor of the House, together with permitted supporting data be printed in the Congressional Record. Limits revisions of verbatim remarks in the Record to the correction of grammatical and typographical errors which do not change the meaning, content, or substance of those remarks. Entitles Members to insert in the Record remarks not actually delivered on the floor. Stipulates that such insertions always be clearly distinguishable from words actually spoken on the floor.
United States · United States Congress · 26 January 1977
Amends rule XI of the Rules of the House of Representatives to require that, insofar as applicable, the House rules which apply to standing committees shall also apply to any select, special, or ad hoc committee, commission, or other entity established by the House.
United States · United States Congress · 26 January 1977
Amends the Rules of the House of Representatives to prohibit voting in any committee or subcommittee by proxy.
United States · United States Congress · 26 January 1977
Amends rule X of the Rules of the House of Representatives to limit all standing committees with more than 20 employees, except the Committee on Appropriations, to no more than six subcommittees.
United States · United States Congress · 26 January 1977
Amends the Rules of the House of Representatives to permit the House, by appropriate resolution, to direct the Committee on Standards of Official Conduct to undertake an investigation of alleged misconduct on the part of any Member, officer, or employee of the House. Requires the committee to file a written report on its findings and recommendations whenever it has undertaken an investigation.
United States · United States Congress · 19 January 1977
Amends the Internal Revenue Code to change the tax exemption for wine produced for personal consumption to allow an adult to produce (1) 200 gallons of wine for personal consumption per year if there are two or more adults in the household, or (2) 100 gallons for such consumption if there is only one adult in the household. Allows a tax exemption for beer produced by an adult for personal consumption in the amounts set forth above.
United States · United States Congress · 19 January 1977
Medicare Long-Term Care Act - Amends Title XVIII (Medicare) of the Social Security Act to establish a voluntary program to provide long-term care benefits for aged and disabled individuals who elect to enroll under such program, financed from premium payments by enrollees together with contributions from funds appropriated by the Federal Government and contributions by States. Lists criteria for eligibility for long-term care service benefits. States that the benefits provided to an individual under this Act shall consist of (1) home health services, (2) homemaker services, (3) nutrition services, (4) long-term institutional care services, (5) day care and foster home services, and (6) community mental health center outpatient services. Enumerates the requirements for certification of a State long-term care agency by the Secretary of Health, Education and Welfare. Provides for the payment of premiums for benefits received under this Act by individuals who elect to participate in the long-term care program. Establishes on the books of the Treasury of the United States a trust fund to be known as the Federal Long-Term Care Trust Fund. Creates a Board of Trustees of such Trust Fund, composed of the Secretary of the Treasury, the Secretary of Labor, and the Secretary of Health, Education and Welfare, all ex officio. States that the Secretary of the Treasury shall be the Managing Trustee of the Board of Trustees and that the Commissioner of Social Security shall serve as the Secretary of the Board. Requires the Board to meet at least once each calendar year. Enumerates the duties of the Board. Declares that a community long-term care center shall: (1) provide the items and services listed in this Act to each individual who (a) is eligible for benefits under this part, (b) resides in the area served by such center, and (c) is certified as requiring such services; (2) evaluate and certify the long-term care needs of an individual for whom such care may be required in order to maintain such individual in an independent living arrangement which is reasonable given such individual's state of health and other circumstances (but not including such individual's economic circumstances); (3) maintain a continuous relationship with (and periodically evaluate not less than annually) each individual who is receiving any of the items and services listed in this Act; (4) provide full opportunity for such individual and his family to participate in the determinations and functions under this Act; (5) provide an organized system for making its existence and location known to all individuals in its service area who are eligible for benefits under this part, and for making known to such individuals the method or methods by which they may most efficiently obtain and use the services which it makes available; and (6) perform such other functions as the Secretary of Health, Education, and Welfare may by regulation prescribe in order to have such center most effectively carry out the purposes of this Act. Sets forth a formula by which payments to States for the reimbursement of community long-term care centers may be calculated. Directs the Secretary, after consultation with organizations representing the chief executives of the various States, and other interested parties, to develop and make available to community long-term care centers one or more methods of obtaining payment for the benefits covered under this Act on a prospective method, it may not alter its election without the prior approval of the Secretary. Provides that whenever the Secretary finds that the number of community long-term care centers electing a particular prospective payment method promulgated in accordance with this Act is not sufficient to provide an adequate basis for either the operation or evaluation of that method, the Secretary shall withdraw that method and allow the community long-term care centers which have elected such method to select another method within 30 days of notice of such withdrawal. Permits a Governor of a State to certify to the Secretary a method of prospective payment other than those promulgated under this Act. States that the determination of whether an individual is entitled to benefits under this Act shall be made by the Secretary in accordance with regulations prescribed by him. Provides for increases in supplemental security income benefits.
United States · United States Congress · 19 January 1977
Voting Rights Act Repealer Amendments Act - 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 the requirement 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.
United States · United States Congress · 19 January 1977
Disapproves a plan submitted by the Secretary of the Interior providing for the use and distribution of funds appropriated in satisfaction of an Indian Claims Commission award to the Tonawanda Band of Seneca Indians.
United States · United States Congress · 11 January 1977
Constitutional Amendment - Empowers each State to choose electors for President and Vice President equal to the total number of Senators and Representatives the State is entitled to in Congress. Mandates the popular election of electors. Authorizes one elector to be chosen from each electoral district, and two electors to be chosen on a statewide basis. Requires that successor electors are bound to follow the declaration of voting intention that each elector must make. Stipulates that any vote cast by an elector contrary to the declaration made by the elector shall be counted as a vote cast in accordance with his declaration. States that in case of a tie the person having a majority of votes cast by electors from electoral districts shall be President. Directs that in a situation of none receiving such a majority, the members of the Senate and House of Representatives, each having one vote, shall choose the President and Vice President from the top three votegetters. Declares a person constitutionally ineligible to be President ineligible to be Vice President. Directs each State legislature to divide the State into electoral districts equal in size, with the number of districts equaling the State's delegation in the U.S. House of Representatives.
United States · United States Congress · 10 January 1977
Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.
United States · United States Congress · 6 January 1977
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 · 4 January 1977
Amends the Internal Revenue Code to provide a limited exclusion from the excise tax on self-dealing by private foundations in order to allow the reimbursement of government officials for certain foreign travel expenses.
United States · United States Congress · 4 January 1977
Amends the Federal Water Pollution Control Act to authorize the Administrator of the Environmental Protection Agency to make grants to States, localities, interstate bodies, corporations, partnerships, and associations for treatment works training projects by contract without regard to generally applicable procedures with respect to expenditure of funds for public contracts.
United States · United States Congress · 4 January 1977
Creates a Select House Committee on Population to conduct an investigation and study of: (1) the major adverse effects of current population growth throughout the world; (2) approaches which have been shown to be effective in coping with excessive population growth; and (3) means to encourage countries with excessive population growth rates to adopt methods proven to be successful in reducing population growth rates.
United States · United States Congress · 30 September 1976
Government Executive Analysis and Reform (GEAR) Commission Act - Establishes the Government Executive Analysis and Reform (GEAR) Commission consisting of 18 members appointed by the President. States that six members are to be appointed by and with the advice and consent of the Senate; four each by the Speaker of the House of Representatives; the President pro tempore of the Senate, and the Chief Justice of the United States. Directs the Commission to study all Executive departments and independent agencies and other authorities of the Federal Government: (1) to determine whether regulatory activities have limited competition within segments of the economy and whether such regulators have contributed to current economic difficulties; and (2) the purposes, structure and jurisdiction, statutory framework, and procedures of such agencies. Directs the Commission to assess the costs and benefits of Federal programs and to make recommendations concerning the restructure of the Government to improve the efficiency of Federal programs. Requires the Commission to submit its recommendations to the President and Congress within 33 months after it first meets. Requires the President to submit to Congress his findings an specific proposals for legislation within 90 days of receipt of the Commission's report. Establishes the Task Force on American Federalism composed of 20 members appointed by the President by and with the advice and consent of the Senate. Directs the Task Force to study the appropriate levels of responsibility among units of local, State and the Federal Government, means for each level to finance such responsibilities, and the extent of intergovernmental assistance required to achieve the proper balance and division of respective Federal, State and local roles and authorities. Directs the Task Force to submit its final report to Congress 15 months after it first meets stating its findings and proposals for constitutional amendments, legislation, or administrative action necessary to carry out its recommendations. Terminates the Task Force and the Commission 90 days after submission of their final reports. Authorizes to be appropriated $12,000,000 to carry out the provisions of this Act.
United States · United States Congress · 21 September 1976
Amends the Juvenile Justice and Delinquency Prevention Act of 1974 to eliminate the requirement that State juvenile justice system plans submitted thereunder provide that juveniles who are charged with or who have committed offenses that would not be criminal if committed by an adult not be placed in juvenile detention or correctional facilities.
United States · United States Congress · 21 September 1976
Condemns the murders of Orlando Letelier and Ronni Karpen Moffitt and the serious injury of Michael Moffitt. Urges a complete and thorough investigation by federal authorities of the circumstances surrounding the bombing.
United States · United States Congress · 15 September 1976
Expresses the sense of the House of Representatives that the resignation of a person under investigation by the House Committee on Standards of Official Conduct has no effect upon the Committee's duty to continue its investigation and report back its findings and recommendations to the House. Directs the Committee to complete its investigation into the allegations of misconduct against Representative Wayne L. Hays and to report thereon prior to the sine die adjournment of the 94th Congress.
United States · United States Congress · 14 September 1976
Amends the Internal Revenue Code to extend until January 2, 1979, specified tax provisions for veterans wounded in the Vietnam conflict and spouses of persons missing in action in the Vietnam combat zone. Provides that after such date: (1) persons classified as missing in action in the Vietnam conflict will be considered dead for purposes of computing the terms of surviving spouses; (2) pay earned while hospitalized for wounds received in the Vietnam combat zone will be included in gross income; (3) income tax will be assessed for the taxable years in which veterans die as a result of service in the Vietnam conflict; (4) spouses of persons classified as missing in action may not elect to file joint tax returns; and (5) time requirements concerning filing, paying, claiming, assessing, collecting and commencing actions regarding tax liability will resume running against spouses of persons missing in the Vietnam combat zone.
United States · United States Congress · 8 September 1976
Directs the President to express the request of the United States Government that the Government of the Union of Soviet Socialist Republics provide Valentyn Moroz with the opportunity to accept the invitation of Harvard University to join the Harvard Ukrainian Research Institute for the 1976-77 academic year.
United States · United States Congress · 31 August 1976
Authorizes the Secretary of the Army, acting through the Chief of Engineers, to implement a five-year demonstration program to increase the average annual diversion of water from Lake Michigan.
United States · United States Congress · 31 August 1976
Expresses the sense of the Congress that Georgi Vins should be released from imprisonment and that the Government of the Soviet Union should allow him and all other religious believers within its borders to worship God freely, as the Soviet Union is committed to do by the provisions of its constitution and by the provisions of the United Nations Covenant on Civil and Political Rights.
United States · United States Congress · 25 August 1976
Condemns North Korea for its continued acts of treachery culminating in the axe murders of two American officers and the wounding of five others. Directs the Speaker of the House to make known the regrets of the House to the wives and children and other survivors of Major Bonifas and Lieutenant Barrett.
United States · United States Congress · 25 August 1976
Directs the House Committee on Armed Services to make a study of the murder by members of the North Korean Armed Forces serving as guards at Panmunjom of two American Army officers attached to the United Nations Command, and other recent North Korean violations of the armistice agreement. Requires the committee to transmit a report to the House containing a statement of the findings of the committee no later than January 3, 1977.
United States · United States Congress · 25 August 1976
Expresses the sense of the Congress that the President should take such steps as may be necessary to place the threat to the peace created by the murder of two American Army officers attached to the United Nations Command by members of the North Korean Armed Forces serving as guards at Panmunjom, and other recent North Korean violations of the armistice agreement, on the agenda of the United Nations.
United States · United States Congress · 25 August 1976
Expresses the sense of the Congress that the President call a White House Conference on Marriage and the Family in order to establish a national understanding of the role played by marriage and the family in the development of a viable society.
United States · United States Congress · 10 August 1976
Eliminates the requirement, under the Federal Food, Drug, and Cosmetic Act, that new drugs be regulated according to their effectiveness. States that such drugs be regulated solely to assure their safety.
United States · United States Congress · 28 July 1976
Amends the Occupational Safety and Health Act of 1970 to provide that any employer who successfully contests a citation or penalty under such Act shall be awarded a reasonable attorney's fee and other reasonable litigation costs.
United States · United States Congress · 28 July 1976
Amends rule XXXII of the Rules of the House of Representatives to allow specified present and former employees and Members of the House to enter the Hall of the House and rooms leading thereto. Provides that such persons shall not be admitted if they have any direct personal or pecuniary interest in any legislative measure coming up for consideration in the House.
United States · United States Congress · 28 July 1976
Expresses the sense of the Congress that article I, section 6 of the Constitution of the United States does not grant any immunity from arrest or prosecution on a charge of violation of any criminal statute of any jurisdiction to a Member of either House of the Congress. Directs that all law enforcement agencies operating within the District of Columbia be made aware of this fact.
United States · United States Congress · 22 July 1976
Historic Preservation Tax Act - Title I: Short Title - Sets forth the popular name for this Act. Title II: Rehabilitation of Historic Structures - Provides under the Internal Revenue Code for the preservation and rehabilitation of historic structures by allowing a tax deduction with respect to the amortization of the amortizable basis of any certified historic structure based on a period of 60 months. Specifies that no deduction shall be allowed for any expense or loss incurred as a result of the destruction of a certified historic structure. Limits deductions on structures erected upon a site which was occupied by a certified historic structure which was demolished or substantially altered. Title III: Rehabilitation of Historic Property - Allows a taxpayer to compute the depreciation deduction attributable to substantially rehabilitated historic property as though the original use of such property commenced with him. Title IV: Charitable Transfers for Conservation Purposes - Allows income, estate and gift tax deductions for transfer of remainder or partial interests in property for conservation purposes.
United States · United States Congress · 25 June 1976
Provides that the Committee on House Administration of the House of Representatives shall provide for the management and operation of the House restaurant and the cafeteria and other food service facilities of the House through the award of contracts. States that any such contract awarded by the committee shall be in effect beginning on the date of such award and ending on December 31, of the third calendar year following the calendar year in which the contract was awarded.
United States · United States Congress · 24 June 1976
School Desegregation Standards and Assistance Act - Title I: Standards and Procedures in School Desegregation Suits - States that the purpose of this title is: (1) to prevent unlawful discrimination in public schools; and (2) to remedy the effects of past discrimination. States that, upon a finding that a local or State educational agency has engaged or is engaging in an act of unlawful discrimination, a court may: (1) enter an order enjoining the continuation or future commission of such act; and (2) provide other relief necessary to prevent the occurrence of discriminatory acts or to eliminate the effects of such acts except remedies directed at eliminating the effects of such acts on the present degree of concentration by race, color, or national origin. States that where a court finds that discriminatory acts have caused a greater concentration by race, color, or national origin in a student population than would have existed in a normal course, the court may order appropriate relief to adjust the composition to that which would have been in the normal course. Requires courts, before entering such an order, to make specific findings concerning the degree to which such concentration in schools affected by unlawful acts varies from which it would have been in the normal course. Places upon the educational agency involved the burden of going forward with evidence to show that such concentration is attributable to factors other than unlawful discrimination. States that the court's findings required under this Act shall be based on conclusion and reasonable inferences from all of the evidence and shall not be based on the presumption that the concentration by race, color or national origin in a student population is a result of discriminatory acts. Requires all school desegregation orders to rely, to the greatest extent practicable, on the voluntary action of school officials, teachers and students. Prohibits courts from removing the control of the schools from the educational agency involved except to the minimum extent necessary to prevent unlawful discrimination or eliminate its present effects. States that in all cases in which a court-imposed requirement for transportation of students has remained in effect for a period of three years, or in the case of final orders entered prior to the enactment of this Act three years after the effective date of this Act, the court shall terminate the requirement unless: (1) the court finds that the local or State education agency has failed to comply with the requirement and other provisions of the court's order substantially and in good faith throughout the three preceding years, in which case the court may extend the requirement until there have been three consecutive years of such compliance; or (2) the court finds, at the expiration of such period that the other provisions of its order and other remedies are not adequate to correct the effects of unlawful discrimination, and that the requirement remains necessary for the purpose, in which case the court may continue the requirement in effect until the local or State education agency has complied with the requirement substantially and in good faith for two consecutive additional years. Authorizes courts to extend such time period under extraordinary circumstances or when there are unusually severe residual effects of discriminatory acts. Authorizes courts to reimpose a requirement for transportation of students if there has been a failure to comply with other provisions of the court's order or if discriminatory acts have occurred since the termination of the order necessitating such action. States that such an order may be imposed if no other remedy is sufficient and shall require the transportation of students only to such extent and for such limited period as may be necessary to remedy the effects of discriminatory actions. Prohibits a court from modifying student assignment plans because of subsequent population shifts unless the court finds such changes resulted from discriminatory acts. Directs courts to notify the Attorney General of proceedings in which the relief sought is a recomposition of a student population or whenever it believes that an order or an extension of an order requiring the transportation of students may be necessary. Authorizes the Attorney General to intervene in such actions, including recommendations for: (1) the appointment of a mediator; and (2) the formation of a committee of community leaders to develop a five-year desegregation program. Title II: National Community and Education Committee - Declares that the purpose of this title is to create a nonpartisan national committee to provide assistance to communities which are engaged in or preparing to engage in the desegregation of their schools. Establishes within the executive branch a National Community and Education Committee for such purpose. Specifies the functions and limitations on the activities of the Committee. Authorizes the Chairman of the Committee to make grants to private nonprofit community organizations to assist them in carrying out activities designed to accomplish the purposes of this title. States that such a grant shall not exceed $30,000. Authorizes appropriations of $2,000,000 for salaries and expenses of the Committee and $2,000,000 for grants for each of the fiscal years 1977 through 1979. Establishes a Federal Community Assistance Coordinating Council to consult with representatives of communities which are seeking Federal support for community relations projects and other community-based efforts to facilitate desegregation. Authorizes appropriations of $250,000 annually for fiscal years 1977 through 1979 for the purpose of carrying out the functions and duties of the Council.
United States · United States Congress · 18 June 1976
Extends from January 1, 1977, until January 1, 1979, the date for the issuance by the Secretary of the Treasury of the salary reduction regulations required under the Internal Revenue Code by the Employee Retirement Income Security Act of 1974.
United States · United States Congress · 17 June 1976
International Social Security Agreements Act - Authorizes the President, under Title II (Old-Age, Survivors and Disability Insurance) of the Social Security Act, to enter into agreements establishing arrangements between the social security system of the United States and the social security system of any foreign country, for the purpose of establishing entitlement to and the amount of old-age, survivors, disability, or derivative benefits based on a combination of an individual's periods of coverage under the social security system established by this title and the social security system of such foreign country. Sets forth regulations governing the apportionment of benefits and the crediting of coverage based on periods of coverage in this country and a foreign country. Amends the Internal Revenue Code to prevent the withholding of social security taxes from an individual during any period when such individual's income is subject to the social security taxes of another country.
United States · United States Congress · 15 June 1976
Amends the Internal Revenue Code to eliminate the requirement that amounts set-aside by a private foundation for a specific project receive the approval of the Internal Revenue Service in order to be treated as qualifying distributions by the foundation making the set-aside.
United States · United States Congress · 11 June 1976
Creates a House select committee which shall conduct an investigation of all records, memorandums, papers, documents, books, and other information of any standing or select committee of the House or officer of the House respecting expenses incurred by or on behalf of any such committee or its members or employees.
United States · United States Congress · 3 June 1976
Provides that funds shall not be expended from the contingent fund of the House of Representatives for allowances to Members, officers, or standing committees of the House except through the adoption of a resolution by the House of Representatives.
United States · United States Congress · 18 May 1976
Estate Tax Adjustment Act - Establishes new estate tax rates, under the Internal Revenue Code, applicable to deaths occurring on or after October 1, 1980. Provides transition rates of estate taxation. Sets new amounts for the state death taxes credit applicable to deaths occurring on or after October 1, 1980. Provides transitional amounts for such credit. Increases the estate tax exemption from $60,000 to $150,000, effective October 1, 1980. Gradually, increases from $30,000 to $40,000 the estate tax exemption for the estates of nonresidents not citizens. Eliminates the aggregate amount limitation on estate tax deductions for bequests to a surviving spouse. Allows the full amount of gifts to a spouse to be deducted in computing taxable gifts rather than the present one-half. Provides that if the aggregate amount of gifts for one quarter does not exceed $100,000 no gift tax return need be filed in that quarter unless it is the fourth calendar quarter. Provides that if the value of an interest in a closely held business which is included in determining the gross estate of a decedent exceeds either (1) 35 percent of the value of the gross estate of such decedent, or (2) 50 percent of the taxable estate of such decedent, but does not exceed $600,000 the executor may elect to: (1) defer the payment of part or all of the estate tax, and (2) pay part or all of the tax in two or more (but not exceeding 20) equal installments.
United States · United States Congress · 12 May 1976
Broadened Stock Ownership Act - Provides that for purposes of the Internal Revenue Code the term "broadened stock ownership plan" means a trust created or organized in the United States for the exclusive benefit of an individual or his beneficiaries which meets specified requirements, including: (1) contributions will not be accepted for the taxable year in excess of $1,500 on behalf of any individual; (2) the trust is designed to invest solely in common stock of domestic corporations; (3) contributions received by the trustee during a particular taxable year will be allocated to a separate class year account; and (4) the interest of an individual in each class year account may not be paid or distributed before the end of the seventh taxable year following that year in which such class year account was established, except in the case of death or disability. States that the term "broadened stock ownership annuity" means a contract for a variable annuity, issued by an insurance company which meets specified requirements similar to those of the stock ownership trust above. Provides that a trust created or organized in the United States by an employer for the exclusive benefit of his employees or their beneficiaries, or by an association of employees for the exclusive benefit of its members or their beneficiaries, shall be treated as a broadened stock ownership, but only if the trust meets the requirements of such a plan as stated above and also provides a separate accounting for the interest of each employee or member. Exempts broadened stock ownership plans from taxation. Provides that any amount paid by an employer to a broadened stock, ownership plan or annuity shall be included in an individuals gross income. Allows an individual to deduct from his gross income amounts paid in cash during the taxable year by or on behalf of such individual to a broadened stock ownership plan or annuity. Stipulates that no deduction shall be allowed for the two taxable years succeeding the taxable year in which a payment or distribution from such a plan or annuity which is taxable to the individual under this Act is made. Stipulates that the deduction allowable to an individual under this Act may not exceed an amount equal to 15 percent of the compensation included in his gross income for such taxable year, or $1,500, whichever is less, multiplied by a fraction, the denominator of which is $20,000 and the numerator of which is $20,000 minus the excess of such compensation over $20,000. Provides that any amount received from a class year account established more than seven years before the taxable year in which the amount is received, and any amount paid or distributed on account of the death of the individual for whose benefit the broadened stock ownership plan or annuity was created, shall be included in gross income in the year received and treated as a long term capital gain. Makes technical and conforming amendments to the Internal Revenue Code.
United States · United States Congress · 12 May 1976
Amends the Internal Revenue Code to prohibit a State or political subdivision thereof from including in a corporation's gross income for purposes of a State or local income tax, any amounts with respect to such corporation's ownership of stock or securities in a foreign corporation unless such amounts are includible in the gross income of the corporation for purposes of the Federal income tax.
United States · United States Congress · 11 May 1976
Denies tax exempt status to an organization if a substantial part of the activities of such organization consist of carrying on propaganda, or otherwise attempting to infuluence legislation. Limits the applicability of this section to organizations that normally make expenditures for the purpose of influencing legislation in excess of the lobbying ceiling amount or in excess of the ceiling amount for such organization as determined under the Internal Revenue Code. Imposes a tax of 25 percent of the amount of any excess lobbying expenditures. Defines the lobbying nontaxable amount as the lesser of $1,000,000 or a specified percentage of exempt purpose expenditures. Prohibits any charitable contribution tax deduction for out-of-pocket expenditures made by any person on behalf of a tax-exempt organization if the expenditure is made for the purpose of influencing legislation.
United States · United States Congress · 3 May 1976
Denies tax exempt status to an organization if a substantial part of the activities of such organization consist of carrying on propaganda, or otherwise attempting to infuluence legislation. Limits the applicability of this section to organizations that normally make expenditures for the purpose of influencing legislation in excess of the lobbying ceiling amount or in excess of the ceiling amount for such organization as determined under the Internal Revenue Code. Imposes a tax of 25 percent of the amount of any excess lobbying expenditures. Defines the lobbying nontaxable amount as the lesser of $1,000,000 or a specified percentage of exempt purpose expenditures. Prohibits any charitable contribution tax deduction for out-of-pocket expenditures made by any person on behalf of a tax-exempt organization if the expenditure is made for the purpose of influencing legislation.