The world's political record
Person
![Official portrait of Rep. Conable, Barber B., Jr. [R-NY-30]](https://www.congress.gov/img/member/c000666_200.jpg)
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 · 3 February 1981
Amends the Second Liberty Bond Act to increase the temporary public debt limit by $585,000,000,000 until September 30, 1981.
United States · United States Congress · 3 February 1981
Presidential Nomination Commission Resolution - Establishes the Commission of Presidential Nominations to make an investigation regarding the presidential nominating process. Directs the Commission to report to the President and Congress respecting such investigation including recommendations for the 1984 presidential elections. Terminates the commission 60 days after submission of such report. Sets forth the powers of such Commission, and related administrative provisions. Authorizes necessary appropriations.
United States · United States Congress · 28 January 1981
Amends the Internal Revenue Code to remove from the formula for determination of the distributable amount of a private foundation, for purposes of assessing the tax on undistributed income, the adjusted net income of such foundation. Redefines requirements for a private operating foundation, for purposes of the exemption of such foundation from the tax on undistributed income, to eliminate the "assets test" which requires a private operating foundation to use a substantial percentage of its assets for the active conduct of its exempt purpose. Exempts private foundations from the taxes on taxable expenditures in cases where such foundations make grants to organizations not exceeding $10,000 in a taxable year. Redefines "members of family" for purposes of identifying persons who are disqualified from entering into specified transactions with a private foundation under provisions of the Internal Revenue Code. Establishes standards for reliance by private foundations upon determinations by the Secretary of the Treasury regarding the status of organizations (exempt from expenditure responsibility requirements) to which such foundations have made grants.
United States · United States Congress · 23 January 1981
Savings and Retirement Income Incentive Act of 1981 - Amends the Crude Oil Windfall Profit Tax Act of 1980 to make permanent the income tax exclusion for dividend and interest income. Increases such tax exclusion for persons over age 65 to $500 ($1,000 for joint returns). Amends the Internal Revenue Code to increase to $2,000 the amount of the income tax deduction for contributions to individual retirement accounts. Eliminates the prohibition against certain pension plan participants (e.g. government and military personnel) from making deductible contributions to individual retirement accounts. Increases the amount of nondeductible contributions which an individual may make to an individual retirement account in a taxable year and over such individual's lifetime. Permits contributors to an individual retirement account to withdraw from such an account up to $10,000, without tax penalty, in order to purchase a first home or finance the higher education of a dependent child. Allows an income tax deduction for voluntary employee contributions to tax-qualified employer pension and annuity plans.
United States · United States Congress · 22 January 1981
Capital Cost Recovery Act of 1981 - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Permits calculation of the investment tax credit for such property without regard to the useful life of the property. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year.
United States · United States Congress · 22 January 1981
Provides that interest on indebtedness incurred to purchase obligations the interest on which is tax-exempt shall be treated, for tax purposes, in accordance with rules in effect before the issuance of Revenue Procedure 80-55.
United States · United States Congress · 22 January 1981
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to repeal the increases for 1981 and 1982 in the contribution and benefit base from which the social security taxes of an individual are taken. Amends the Internal Revenue Code to increase the old age, survivors and disability insurance tax rates on employees, employers, and self-employment income and decrease the hospital insurance tax rates on employees, employers, and self-employment income. Revises the allocations of wages and self-employment income from the Treasury to the Federal Disability Insurance Trust Fund for taxable years after 1980. Amends title II of the Social Security Act and the Internal Revenue Code to include Federal employees within the coverage of the Social Security system. Establishes a "working spouse's benefit" under title II. Provides that any individual who receives both old-age benefits or a disability insurance benefit and wife's, husband's, widow's, widower's, or mother's insurance benefits shall be entitled to such working spouse's benefit. States that such benefit shall be a percentage of the smaller of the two benefits to which the recipient was entitled. Limits the receipt of such benefits to one member of a married couple when both members are eligible. Increases by 100 percent, for taxable years beginning after 1980, allocations of wages and self- employment income from the Treasury to the Federal Hospital Insurance Trust Fund.
United States · United States Congress · 22 January 1981
Authorizes the President to present on behalf of the Congress specially struck gold medals to fifty-three individuals held hostage in the United States Embassy in Iran. Directs the Secretary of the Treasury to: (1) strike fifty-three gold medals with suitable emblems, devices and inscriptions; and (2) coin and sell bronze duplicates of such medals. Authorizes appropriations.
United States · United States Congress · 22 January 1981
Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1979.
United States · United States Congress · 22 January 1981
Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1979.
United States · United States Congress · 20 January 1981
Tax Reform Act for Nonprofit Organizations - Amends the Internal Revenue Code to allow taxpayers who do not itemize income tax deductions a deduction from gross income for charitable contributions. Expands the income tax deduction for appearances with respect to legislation to include expenses for communications between an organization and the officers, directors, or employees of a taxpayer. Exempts certain business and professional organizations from restrictions on income tax deductions for expenses relating to the supply of goods and services to members. Permits members of tax-exempt organizations to participate in educational activities sponsored by the organization or purchase goods and services related to the organization's exempt activities at prices more favorable than are available to nonmembers without jeopardizing the tax-exempt status of the organization. Extends to nonprofit business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues eligibility for participation in tax-exempt annuity plans. Exempts certain incorporated fraternal organizations and lodges from the special tax rules applicable to private foundations. Limits the amount of advertising income of a tax-exempt organization which is subject to the tax on unrelated business income to the lesser of the amount of net income derived from advertising or the net amount derived from subscriptions to the organization's periodical and the advertising contained therein. Excludes from unrelated business activity income certain amounts derived from insurance activity conducted by a tax-exempt organization on behalf of it members. Permits tax-exempt organizations to conduct conventions and trade show activities designed to educate individuals regarding new developments or products and services relating to the exempt activities of an organization without subjecting such exempt organization to the unrelated business tax. Exempts from the definition of expenditure, for purposes of the tax on political organizations, expenses incurred by an organization in communicating with its members on any subject. Extends the availability of the declaratory judgment to all tax-exempt organizations. Requires the Secretary of the Treasury to make a determination, upon request, of the tax-exempt status of any organization within 90 days of such request.
United States · United States Congress · 19 January 1981
Amends the Internal Revenue Code to increase from $20,000 to $75,000 in 1981 (with annual adjustments up to $95,000 in 1985 and thereafter) the earned income exclusion for U.S. citizens working abroad who are bona fide residents of a foreign country. Repeals the requirement that, as a condition of their employment, such individuals reside in a hardship area. Reduces from 17 to 11 months the residency requirement for such exclusion. Provides for an income tax exclusion for the value of employer-provided lodging in a camp in cases where satisfactory housing is not generally available. Reduces from 17 to 11 months the foreign residency requirement with respect to the deduction for certain housing expenses of living abroad.
United States · United States Congress · 9 January 1981
Amends the Immigration and Nationality Act to allow preference visas to be given to an alien who: (1) requests such treatment; (2) was born after 1950 in Korea, Vietnam, Laos, or Thailand; (3) was fathered by an American serviceman; and (4) provides a guarantee of financial support. Stipulates that such guarantee must: (1) be signed by a citizen or lawful permanent resident who is at least 21 years old; and (2) provide that such signing sponsor will provide necessary financial support for five years. Allows the Attorney General to enforce such guarantee against the sponsor in a civil suit unless such sponsor dies or is adjudicated bankrupt.
United States · United States Congress · 6 January 1981
Provides that annuity contracts with reserves based on a segregated asset account shall be treated, for tax purposes, in accordance with rules in effect before the issuance of Revenue Ruling 77-85.
United States · United States Congress · 6 January 1981
Amends the Legislative Reorganization Act of 1946 to require both Houses of Congress to adopt a resolution approving any adjustment in annual rates of pay for Members of Congress before such adjustment may take effect. Requires the adoption of such resolution by both Houses within 60 calendar days of continuous session of the Congress after the date on which the adjustment under the General Schedule takes effect.
United States · United States Congress · 6 January 1981
Amends the Legislative Reorganization Act of 1946 and the Federal Salary Act of 1967 to direct that any adjustments in the rate of pay for Members of Congress shall take effect at the beginning of the Congress following the Congress in which they are approved.
United States · United States Congress · 5 January 1981
Campuses for the Elderly Act - Directs the Secretary of Housing and Urban Development to: (1) solicit and review plans for the development of campus-style residential and health care projects for the elderly; and (2) make interest subsidy payments to developers of such projects. Authorizes appropriations necessary to make such interest subsidy payments. Amends the National Housing Act to authorize the Secretary to insure and to make commitments to insure mortgages on properties being developed under this Act. Requires a report to the Congress evaluating projects developed under this Act by a committee of Congressional members, representatives of the medical profession, and administrators of health-care facilities. Authorizes appropriations for such committee.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to permit taxpayers who do not itemize income tax deductions to claim a deduction from gross income for charitable contributions.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to exclude employers from the imposition of Federal unemployment taxes for wages paid for services performed for camps by full-time students during fewer than 13 weeks in the year.
United States · United States Congress · 5 January 1981
Anti-Inflation Tax Act of 1981 - Amends the Internal Revenue Code to require annual cost of living adjustments, based on the Consumer Price Index, to individual income tax rates, the personal tax exemption, withholding requirements, and minimum income tax return amounts.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to allow married individuals filing jointly an income tax deduction from gross income equal to ten percent of the earned income of the lower income spouse (or of one spouse if both incomes are the same). Limits the amount of such deduction to $2,000 for the taxable year. Denies such deduction if one spouse has earned income amounting to less than 20 percent of the combined income of both spouses.
United States · United States Congress · 5 January 1981
Amends the Internal Revenue Code to allow a deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits eligibility for such deduction to the taxpayer or the taxpayer's dependent child unless such child has attained age 21 or has attended an institution of higher education as a full-time student for more than four weeks in the year of his twenty-first birthday. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing such individual's first residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first residence. Provides for recapture of such distribution upon a subsequent sale of such first residence if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
United States · United States Congress · 18 September 1980
Amends the Internal Revenue Code to exempt from liability for income tax on investments in the United States any foreign pension plan maintained under the laws of such foreign country primarily for the benefit of employees. Requires the participation in any such plan of at least ten employees, a majority of whom are nonresident alien individuals. Applies such exemption only to amounts received in the United States between December 31, 1980 and December 31, 1985.
United States · United States Congress · 15 September 1980
Dependent Care Amendments Act of 1981 - Amends the Internal Revenue Code to increase the tax credit for household and dependent care services necessary for gainful employment from 20 to 35 percent of the costs of such services. Makes such credit refundable. Permits such credit for the costs of day care services performed outside the taxpayer's household for a handicapped dependent or spouse who returns to the household each day. Establishes a minimum income for individuals engaged in business on an substantially full-time basis to be utilized in the computation of the earned income limitation on the amount of such credit. Includes as a tax-exempt organization any organization which provides nonresidential dependent care services to the general public for purposes of enabling individuals to be gainfully employed. Treats the value of any such services provided by an employer and included in the income of an employee as having been paid by the employee.
United States · United States Congress · 9 September 1980
Amends the Internal Revenue Code to allow an income tax deduction for expenses incurred in the rental of a dwelling unit as a residence to a member of the taxpayer's family. Provides that this Act shall apply to taxable years beginning after December 31, 1975.
United States · United States Congress · 20 August 1980
Expresses the sense of the Congress that aliens who engage in unlawful or disorderly activities in the United States should be promptly deported in accordance with provisions of the Immigration and Nationality Act.
United States · United States Congress · 30 July 1980
Amends the Internal Revenue Code to enumerate certain conditions whereby meals furnished by an employer to an employee may be considered furnished for the convenience of the employer, and thus qualify as tax excludible for the employee, even if such meals are furnished off the business premises of the employer.
United States · United States Congress · 24 July 1980
Farm Labor Contractor Registration Act Amendments of 1980 - Amends the Farm Labor Contractor Registration Act of 1963 to revise the definition of "farm labor contractor" to: (1) broaden specified exclusions from such definition (thus broadening certain exemptions from coverage under such Act); and (2) exclude from such definition (and such coverage) any nonprofit or cooperative association of farmers, growers, or ranchers, duly incorporated under appropriate State laws, and operated solely for the mutual benefit of the members thereof, and any full-time or regular employee of such association or cooperative who engages in such activity solely for such employer. Adds other definitions relating to such revisions. Revises the definition of "agricultural employment" to specify that listed activities take place on a farm or ranch. Limits the definition of "migrant worker" to mean (among individuals engaged in agricultural employment on a farm or ranch on a seasonal or temporary basis) only those who cannot regularly return to their domicile each day after working hours, or who are transported from and to their domicile each workday by the person who recruits, solicits, hires, or furnishes such worker for agricultural employment on a farm or ranch owned or operated by another person.
United States · United States Congress · 22 July 1980
Directs the President to furnish the House of Representatives with information concerning White House and Justice Department actions with regard to Billy Carter's involvement with Libya.
United States · United States Congress · 2 July 1980
Designates October 6, 1980, as "Philip Mazzei Day."
United States · United States Congress · 2 July 1980
Expresses the sense of the Congress that U.S. foreign policy should reflect a national strategy of peace through strength with specified principles and goals.
United States · United States Congress · 1 July 1980
Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1979.
United States · United States Congress · 26 June 1980
Presidential Nomination Commission Resolution - Establishes the Commission on Presidential Nominations to make an investigation regarding the presidential nominating process. Directs the Commission to report to the President and Congress respecting such investigation, including recommendations for the 1984 presidential elections. States that the Commission shall cease to exist 60 days after submitting such report. Sets forth the powers of such Commission and related administrative provisions.
United States · United States Congress · 25 June 1980
Title I: Expenditure Reductions Reported By the Committee on Ways and Means - Medicare Amendments of 1980 - Amends title XVIII (Medicare) of the Social Security Act with respect to home health care services to eliminate: (1) the 100 visit limitation presently applicable to such services; (2) prior hospitalization as a condition of eligibility for such services; and (3) the $60 deductible. Directs the Secretary of Health and Human Services to prescribe regulations which prohibit a physician who has a significant financial relationship with a home health agency from certifying that the services of such agency are required for any individual, and from establishing and reviewing a plan for furnishing such services to such individuals. Requires home health aides to complete a training program approved by the Secretary. Repeals provisions of title XVIII which prohibit the classification, as a home health agency, of a private organization which is not a nonprofit organization unless licensed pursuant to State law. Excludes certain costs related to bonding and escrow accounts excluded from the determination of reasonable costs for home health agencies. Authorizes the President, under title XVIII, to enter into agreements establishing reciprocal arrangements between the health insurance program established by such title and the program of any foreign country under which similar services are provided directly to entitled individuals or under which insurance is provided to meet all or part of the expenses of entitled individuals for health services. Requires that any such agreement specify: (1) the nature and extent of payment to be made to or on behalf of individuals entitled to benefits; (2) limitations on the nature and duration of health services and on entitlement of individuals to benefits on a reciprocal basis under an agreement in the United States and in the foreign country;(3) limitations on entitlement of individuals to benefits; and (4) the methods by which the cost of providing health services on a reciprocal basis shall be shared by the United States and the foreign country. Directs the Secretary to make rules and regulations and to establish procedures which are reasonable and necessary to implement and administer any agreement which has been entered into in accordance with this Act. Authorizes the Secretary to enter into interim arrangements with any hospital in a foreign country which is accredited by the Joint Commission on Accreditation of Hospitals, or such other hospitals as the Secretary finds meets specified health and safety standards. Provides Medicare coverage, effective July 1, 1981, for: (1) all services performed by a dentist which would be covered if performed by a physician; and (2) inpatient hospital services furnished because of the severity of the dental procedure. Authorizes payments under the Medicare program for the cutting or removal of warts on the feet, effective July 1, 1981. Allows reimbursement under the Medicare program for services furnished in qualified community mental health centers and comprehensive outpatient rehabilitation centers. Restricts payment for optometrists' services under Medicare to services related to the treatment of aphakia, effective July 1, 1981. Directs the Secretary to make recommendations with respect to providing Medicare coverage for the treatment of cataracts and for other services which optometrists may perform. Authorizes payment under the Medicare program for antigens prepared by a physician. Authorizes the Secretary to make payments of such benefits as are necessary to correct the effect of an unintentional or erroneous transfer of an individual from an approved hospital or skilled nursing facility. Includes rural health facility of 50 beds or less within the definition of the term "hospital", under title XVIII. Makes special provisions with respect to nursing services, health, fire, and safety requirements for such facilities. Recognizes podiatrists as physicians for purposes of physician certification and participation in utilization review, where consistent with State law and policies of the health care institutions involved. Allows a speech pathologist, as well as a physician, to establish the plan of treatment for speech pathology services. States that where services are provided for which payment may be made under the Medicare program to an individual who has died, and the persons who provided the services do not agree that the reasonable charge is the full charge for the services, payment shall be made on the basis of an itemized bill. Repeals provisions of the Medicare program concerning the presumed coverage for extended care facilities and home health care in specified circumstances. Repeals the existing provisions under part A (Hospital Insurance) of title XVIII under which payment to a provider of services shall be the lesser of the reasonable cost of such services or the customary charge with respect to such services, and provides that payment to a provider shall now be based upon the reasonable cost of such services, effective October 1, 1980. Limits to a maximum of 30 percent the amount by which the premium for voluntary participation in Medicare insurance may be increased due to late enrollment. Repeals the prohibition against enrolling more than twice in the Supplementary Medical Insurance Program (part B of title XVIII). Repeals the present time limitation applicable for general enrollment under part B and permits an eligible individual to enroll at any time. Modifies Medicare coverage for chiropractic services, effective July 1, 1981, to provide that a subluxation could be demonstrated to exist either through X-rays or other chiropractic clinical findings. Provides Medicare coverage for the X-rays. Increases to 80 percent of reasonable charges (not to exceed $937.50 per year) the limit on payments, under part B of title XVIII, for the treatment of mental, psychoneurotic, and personality disorders of an individual who is not a hospital inpatient. Provides, under part B, for the payment of certain services of a clinical psychologist. Makes such provisions effective January 1, 1982. Limits the 100 percent reimbursement for the inpatient hospital services of radiologists and pathologists to those radiologists and pathologists who agree to accept assignment for all services furnished by such physicians under part B. Increases from $100 to $500 the payment limitation for certain outpatient physical therapy services under the Medicare program. Eliminates the Medicare deductible for blood, effective July 1, 1981. Prohibits Medicare payments where payment has been made or can reasonably be expected to be made under an automobile insurance policy. Increases from 14 to 30 days the period within which a Medicare beneficiary must be admitted to a skilled nursing facility following inpatient hospital care in order to qualify for post hospital extended care benefits. Authorizes payment under Medicare for certain surgical procedures specified by the Secretary which are performed in an ambulatory surgical center. Prohibits the Secretary from finding, for purposes of certifying the addition or expansion of a facility within a renal disease network, that such addition or expansion is not needed if the State health planning and development agency for the State in which the facility is located has certified under the Public Health Service Act that such addition or expansion is needed. Authorizes the Secretary to enter into agreements with nonprofit entities for the reimbursement of reasonable cost of home dialysis equipment. Provides Medicare coverage for diagnostic, radiological, or pathological services performed on an outpatient basis within seven days of a patient's admission to a hospital. Directs the Secretary to report to Congress in relation to this coverage. Directs the Secretary to conduct the following studies: (1) the circumstances and conditions under which services furnished by registered dieticians should be covered as a home health service under Medicare; (2) the methods for providing Medicare coverage for orthopedic shoes for certain individuals; (3) the circumstances and conditions under which services furnished with respect to respiratory therapy should be covered under Medicare as a home health benefit; and (4) a comprehensive analysis of the cost effects of alternative approaches to improving Medicare coverage for the treatment of various types of foot conditions. Directs the Secretary to carry out demonstration projects to determine: (1) the extent to which nutritional therapy commenced in early renal failure, utilizing controlled protein substances, can retard or arrest the disease; (2) the administrative, financial, and other aspects of making such nutritional therapy generally available as a Medicare benefit; and (3) the administrative, financial, and other aspects of making the services of clinical social workers more generally available as a Medicare benefit. Directs the Secretary to submit a report on each study and demonstration project. Directs the Secretary to report to Congress on the demonstration projects being conducted on the waiver of the applicable cost sharing amounts which Medicare beneficiaries have to pay for obtaining a second opinion on having surgery performed. States that providers of services have the right to judicial review of any action of the fiscal intermediary involving a question of law or regulations relevant to the matters in controversy whenever the Provider Reimbursement Review Board determines, on its own motion or at the request of a provider, that it is without authority to decide the question. Prohibits Medicare reimbursement for amounts incurred by a provider with Medicare contracts for services valuing $10,000 or more annually unless such contracts permit the Secretary and the Comptroller General access to any books, records, and papers directly related to such contracts. Provides coverage under part B of title XVIII for pneumococcal vaccine and its administration if reasonable and necessary for the prevention of illness, effective July 1, 1981. Medicare and Medicaid Amendments of 1980 - Amends part B (Professional Standards Review) of title XI of the Social Security Act to permit an organization qualified for conditional designation as a Professional Standards Review Organization (PSRO) to include health care practitioners, other than physicians and osteopaths, who hold independent hospital admitting privileges, if invited to become members by the organization. Includes as members of the advisory group for each statewide Professional Standards Review Council at least one registered professional nurse and doctor of dental surgery. Includes one registered professional nurse, one doctor of dental surgery, and one health practitioner other than physicians and osteopaths on the National Professional Standards Review Council. Revises the duties of a conditionally designated PSRO. Directs the Secretary to establish a program for the evaluation of the cost-effectiveness of review of particular health care services by PSRO's. Eliminates the requirement that a PSRO must, if capable, review ambulatory care services provided under the Act within two years of becoming a fully designated PSRO. Authorizes the Secretary of Health and Human Services to replace one PSRO with another PSRO if the PSRO initially designated is not conducting particular review activities. Permits a PSRO to withhold any records requested pursuant to a request under the Freedom of Information Act until 180 days after the entry of a final court order ordering disclosure. Requires a PSRO to consult with representatives of health care practitioners, other than physicians, and representatives of institutional and noninstitutional providers of health care services in relation to the responsibility of a PSRO to review the professional activities of such practitioners and providers. Authorizes each PSRO to determine, in advance, the medical necessity and appropriateness of any routine diagnostic services furnished in connection with an elective admission to a hospital or other health care facility. States that PSROs may be directed by the Secretary to exercise such authority. Directs the Secretary, in consultation with the National Professional Standards Review Council, to conduct a nationwide study of the differences in medical criteria and length-of-stay norms utilized by PSRO's in the various regions of the country, and to report to Congress the findings and conclusions. Declares it to be the policy of the United States that philanthropic support for health care be encouraged and expanded. States that in determining the reasonable costs of services furnished by nonprofit hospitals under titles V (Maternal and Child Health), XVIII (Medicare) and XIX (Medicaid) of the Social Security Act, gifts, grants and endowments, and other specified items shall not be deducted from any operating costs of such hospitals, effective September 1, 1981. Directs the Secretary to conduct a study of the availability and need for skilled nursing facility services covered under Medicare and Medicaid and to report to Congress concerning such study. Authorizes the Secretary, under title XVIII and the State under title XIX, in lieu of decertifying a skilled nursing facility which is out of compliance with conditions of participation specified in the Act, to instead deny payment to such a facility for services furnished, if the health and safety of the patients is not immediately jeopardized. Stipulates that the Secretary shall not make such a decision until such facility has had a reasonable opportunity to correct the deficiencies. Authorizes the Secretary, under title XIX, to make an independent and binding determination concerning the extent to which an institution meets the conditions of participation. Requires, under the Medicare program, a skilled nursing facility to meet such provisions of such edition (as specified by the Secretary ) of the Life Safety Code of the National Fire Protection Association as are applicable to nursing homes. Provides that criminal penalties for the solicitation of Medicare or Medicaid business shall apply only if such conduct is undertaken knowingly and willfully. Amends part A (General Provisions) of title XI of the Act to exclude from participation in Medicare or Medicaid any physician or other individual convicted of a criminal offense related to such individual's participation in either program. Requires any entity receiving payments under the Medicaid program to comply with certain financial reporting requirements. Authorizes the Secretary to reduce the Federal share of Medicaid payments to a State with respect to expenditures by providers that participate or have participated in the Medicare program and from which the Secretary has been unable to recover Medicare payments or information concerning Medicare overpayments. Authorizes hospitals under title XVIII which have been granted a certificate of need for the provision of long-term care services to enter agreements under which their inpatient hospital facilities may be used to furnish services which if furnished by a skilled nursing facility would constitute post-hospital extended care services. Provides that, where a hospital has not entered into such an agreement and long-term care services are necessary, payment may be made for such services as if such an agreement were in effect, if the hospital: (1) has an occupancy rate below 80 percent; and (2) could obtain a certificate of need. Provides Medicaid coverage for skilled nursing facility services and intermediate care facility services furnished by a hospital which has in effect an agreement under title XVIII. Requires, as a condition for payment to any State under titles V (Maternal and Child Health and Crippled Children's Services) or XIX of the Act for costs incurred in the performance of audits of entities which also provide services under title XVIII, that such audits be coordinated with audits of entities performed for purposes of title XVIII. Directs the Secretary: (1) to establish one or more demonstration projects to demonstrate the feasibility of creating a single coordinated appeal hearing to adjudicate those administrative cost items which are determined under such a coordinated audit and which such entities dispute and appeal; and (2) to provide for the review of the feasibility of establishing a single coordinated process for the collection of overpayments established in an audit. Authorizes the Secretary to enter into agreements with no more than 12 States for the purpose of conducting demonstration projects for the training and employment as homemakers or home health aids of individuals who have been certified by the appropriate State or local government agency as being eligible for financial assistance under a State plan of Aid to Families with Dependent Children approved under title IV of the Act. Directs the Secretary to submit annual reports to the Congress evaluating such demonstration projects. Extends until December 31, 1980 the program conducted by the Secretary to determine the proficiency of individuals who do not otherwise meet formal qualifications criteria to perform the duties of certain health care personnel. Sets limits, under the Medicare and Medicaid program, on payments to a physician for laboratory tests reimbursable under those programs. Directs the Secretary to report to Congress concerning such payments. Allows States to purchase laboratory services for Medicaid through competitive bidding arrangements for a three-year experimental period. Requires such services to be from laboratories: (1) which are found by the Secretary to meet appropriate health and safety standards; (2) no more than 75 percent of whose charges for such services are under Medicare or Medicaid; and (3) which charge Medicaid at rates no higher than the lowest amount charged to others for similar tests. Directs the Secretary to send to Congress an evaluation of such purchase arrangements, with recommendations as to extension or modification. Requires any laboratory services paid for under Medicaid to be provided by a laboratory meeting Medicare's requirements. Includes, under Medicare, as inpatient hospital services the services of a physician in a teaching hospital only if: (1) the hospital elects to receive any payment due under Medicare for reasonable costs of such services; and (2) all physicians in the hospital agree not to bill charges for professional services rendered in such hospital to individuals covered by Medicare. Authorizes the Secretary to provide for demonstration projects to determine the cost-effectiveness and appropriateness of requiring a second opinion with respect to specified elective surgical procedures before payment may be made under Medicare or Medicaid for the performance of the procedure. Directs the Secretary to analyze the data on the projects and to report the results to Congress. Provides that an individual shall not be required to participate in such a project unless the individual has provided a written and legally effective informed consent. Provides that hospitals, under Medicare and Medicaid, reimbursed under the demonstration project reimbursement system shall continue to be reimbursed under that system until either: (1) a third party payor reimburses such a hospital on another basis; or (2) the rate of increase for the previous three year period in costs per inpatient admission is greater than such rate of increase in all other hospitals over the same period. Revises provisions of title XVIII of the Act relating to payments to and contractual arrangements with health maintenance organizations (HMO) on behalf of individuals eligible for Medicare, effective no earlier than July 1, 1981. Directs the Secretary to determine annually a per capita rate of payment for each class of individuals entitled to benefits under such title who are enrolled pursuant to this Act with a HMO. Directs the Secretary to define classes of members based on such factors as age, sex, institutional status, disability status and place of residence. Provides a rate for each class equal to 95 percent of the adjusted average per capita cost for that class. Defines the term "adjusted average per capita cost" to mean the average per capita amount that the Secretary estimates would be payable for services furnished under the Medicare program, if the services were to be furnished by other than a HMO. Redefines HMO to mean a public or private organization which is a qualified HMO as defined in the Public Health Service Act or which: (1) provides at least physicians services, inpatient hospital services, laboratory, X-ray, emergency, and preventive services, and out of area coverage; (2) is compensated on a fixed periodic basis; (3) provides physicians' services primarily either directly through physicians of the organization or through arrangements with physicians; (4) assumes full financial risk for services provided; and (5) has provided adequately against insolvency. Sets forth provisions governing: (1) the benefit package; (2) limits on deductibles, coinsurance, and copayments; (3) providers; (4) open enrollment; (5) expulsion of members; (6) availability of services; (7) grievance procedures; and (8) quality assurance. Provides that every individual entitled to benefits under part A (Hospital Insurance) and enrolled under part B (Supplementary Medical Insurance) of title XVIII or part B only shall be eligible to enroll with a HMO with which the Secretary has contracted to provide services. Sets limits on an HMO's premium rate and the actuarial value of its deductibles, coinsurance, and copayments charged for individuals enrolled under this Act. Authorizes the Secretary to contract with any HMO that can provide the benefits required by this Act. Directs the Secretary to conduct studies of: (1) any services offered by an HMO in addition to those provided under the Medicare program; and (2) the reasons why Medicare beneficiaries terminate memberships with HMO's. Requires the Secretary to report to Congress concerning such studies. Directs the Secretary to defer specified periodic interim payments to hospitals until fiscal year 1982. Amends the Emergency Jobs and Unemployment Assistance Act of 1974 to terminate reimbursement of States for unemployment benefits paid on the basis of public service employment after October 1, 1980. Permits ex-servicemen to be paid unemployment compensation for Federal service only if it was continuous active service of more than one year (from 90 days). Amends the Federal-State Extended Unemployment Compensation Act of 1970 to prohibit payments of extended compensation pursuant to interstate claims filed in any State for which an extended benefit period is not in effect. Provides for the repeal of the Act (currently pending before Congress) to improve adjustment assistance for workers and firms under the Trade Act of 1974. Title II: Revenue Increases - Mortgage Subsidy Bond Tax Act of 1980 - Amends the Internal Revenue Code to deny a tax exclusion for the interest on State and local mortgage subsidy bonds (except qualified mortgage bonds and qualified veterans' mortgage bonds). Defines "mortgage subsidy bonds" as bonds which are used to finance mortgages on owner-occupied residences. Defines "qualified veterans' mortgage bonds" as obligations which are issued in registered form and which are used to finance mortgages for veterans' housing. Requires that the proceeds of such bonds be used to finance new mortgages only and that the principal and interest of such bonds be secured by the general obligation of a State. Sets forth requirements for the qualification of mortgage bonds for the interest tax exclusion, including requirements that: (1) such bonds are used to finance mortgages on single family residences which are purchased as the principal residence of the mortgagor and which are located in the jurisdiction of the issuing authority; (2) the mortgagor was not a homeowner within the three year period ending on the date the mortgage is executed (not applicable to rehabilitation loans, home improvement loans, and targeted area mortgages); (3) the purchase price of the residence does not exceed 80 percent of the average area purchase price applicable to such residence (110 percent for residences in targeted areas); (4) 75 percent of the bond issue proceeds is used to finance residences with a downpayment requirement of five percent and 95 percent financing; and (5) the income of the mortgagors as a whole must be 115 percent or less than the medium family income for the statistical area in which the residence is located (140 percent for targeted areas), and at least 50 percent of the bond issue proceeds are available for families whose income is 90 percent or less of such average income. Provides that a showing that the issuing authority has attempted in good faith to satisfy all the requirements of this Act, or that 95 percent of the mortgages issued pursuant to this Act are in compliance with its requirements, will cure a failure to meet any particular requirement, provided that such failure is corrected within a reasonable time after its discovery. Terminates the tax exclusion for interest on qualified mortgage bonds two years after the enactment of this Act. Limits the amount of qualified mortgage bonds which a State may issue to the greater of $50,000,000 or five percent of the average of all mortgages originated in such State in the preceding three years. Requires that at least 20 percent (but not more than 40 percent) of such mortgage bonds be made available for targeted areas. Defines "targeted areas" as areas in which 70 percent of the families have incomes of not more than 80 percent of the statewide median income or areas of chronic economic distress as defined by such States subject to the approval of the Secretaries of the Treasury and Housing and Urban Development. Limits the effective interest rate on mortgages under this Act to one percentage point above the yield to maturity to the purchasers of the mortgage bonds, calculated on the date of issuance. Requires the inclusion of fees, charges, and other amounts borne by the mortgagor in determining the effective rate of interest on the mortgage. Requires the application of excess arbitrage earnings to the reduction of the costs of owner-financing under this Act. Requires State agencies to issue an opinion prior to a bond issue that such issue meets the requirements imposed by this Act with respect to market limitations on the issuance of bonds and investment in targeted areas. Requires the registration of bonds issued pursuant to this Act. Requires the origination of bonds issued pursuant to this Act by at least two individuals, unless no more than one individual is willing to originate the mortgage or there is a sound public purpose in having only one originator. Requires that mortgages issued pursuant to this Act must be new mortgages, with limited exceptions. Requires individuals assuming mortgages financed pursuant to this Act to meet the requirements imposed upon the original mortgagors. Restricts the use of tax-exempt industrial development bonds for residential rental projects which have a 20 percent occupancy of low-or moderate-income individuals. States that the effective date of this Act shall be April 24, 1979. Permits the tax exemption of bonds not in conformity with the requirements of this Act if the issuing authority had taken, prior to April 25, 1979, official action which indicated an intent to issue such bonds. Permits State housing finance agencies to issue up to $150,000,000 of tax-exempt mortgage subsidy bonds without regard to whether such agencies took official action to issue such bonds prior to April 25, 1979. Permits the issuance of tax-exempt mortgage subsidy bonds not in conformity with the requirements of this Act in the case of local government programs which provide housing rehabilitation loans and with respect to projects which had reached specified stages of development prior to April 25, 1979. Permits the tax free rollover of bonds which were tax-exempt prior to April 24, 1979, where the maturity date of such bonds is not longer than two years after the life of the initial mortgages on the property. Permits the issuance of tax-exempt mortgage subsidy bonds not in conformity with the requirements of this Act in the case of local governments which were developing bond proposals before April 25, 1979, but which deferred such proposals due to State legislation which was pending on April 1, 1979, and subsequently enacted on April 26, 1979 (describes a situation peculiar to the State of Kansas). Requires large corporations (those with more than $1,000,000 for any of the preceding three taxable years) to pay at least 60 percent of their tax paid the preceding year as their estimated income tax installment for the current year. Environmental Revenue Act of 1980 - Imposes specified excise taxes on crude oil, imported petroleum products, specified petrochemical feedstocks, and specified inorganic substances. Terminates such taxes after September 30, 1985. Sets forth exceptions to such excise taxes. Establishes a Comprehensive Oil Pollution Liability Trust Fund and a Hazardous Substance Pollution Liability Trust Fund consisting of: (1) such excise taxes; (2) Oil Pollution Trust Fund; and (3) penalties imposed under the Comprehensive Oil Pollution Liability and Compensation Act or the Federal Water Pollution Act. Terminates such Funds after September 30, 1985. Makes such Funds available for paying claims for compensable damages which are recognizable under such Acts and for costs incurred by the United States. Permits loans between such Funds in specified circumstances. Limits the payment of claims by such Funds. Requires claims to be paid in the order they were finally determined. Limits the liability of the United States to the amounts in such Funds. Coordinates this Act with the Comprehensive Oil Pollution Liability and Compensation Act. Treats a surplus in the Trans-Alaska Pipeline Liability Fund as an advance payment of the excise tax imposed by this Act. Requires the Secretary of the Treasury, in consultation with other Federal officials, to study and report to Congress concerning different methods of imposing such taxes, tax exemptions, and the impact of such taxes on the U.S. balance of trade. Hazardous Waste Revenue Act of 1980 - Imposes specified excise taxes on crude oil, imported petroleum products, specified petrochemical feedstocks, and specified inorganic substances. Terminates such taxes after September 30, 1985. Sets forth exceptions to such taxes. Establishes the Hazardous Waste Response Trust Fund consisting of such excise taxes and amounts received pursuant to the Solid Waste Disposal Act. Makes such Funds available for emergency response, removal, containment, cleanup, and other action taken under such Act. Limits the amount which may be spent in any fiscal year. Terminates such Fund after September 30, 1985. Coordinates this Act with the Hazardous Waste Containment Act of 1980. Directs the Secretary of the Treasury, in consultation with other Federal officials, to study and report to Congress concerning different methods of taxes, tax exemptions, and the impact of such taxes on the U.S. balance of trade. Continues the telephone excise tax at two percent through 1981. Extends the tax until January 1, 1983 (from 1982). Foreign Investment in Real Estate Tax Act of 1980 - Amends the Internal Revenue Code to tax nonresident aliens and foreign corporations engaged in a trade or business in the United States on the same basis as U.S. citizens. Provides that gains or losses realized by such aliens or foreign corporations from the sale or exchange of a U.S. real property interest shall be afforded the same tax treatment as similar gains and losses of U.S. citizens. Defines "U.S. real property interest" as either: (1) an interest in real property located in the United States; (2) stock in a U.S. real property holding organization (a business entity in which U.S. real property interests constitute more than 50 percent of the fair market value of the entity's total assets). Exempts publicly traded stocks from such definition (and the requirements of this Act) if the foreign owner held less than 5 percent of such stock. Includes within the term "interest in real property" fee ownership and co-ownership of land or improvements thereon, leaseholds of land or improvements, and options to acquire such leaseholds of land or improvements. Requires that an informational return concerning holdings and transactions be filed with the Secretary of the Treasury by: (1) an organization whose U.S. real property interests constitute more than 40 percent of the fair market value of its assets and one or more of the owners are foreign persons; or (2) a foreign person owning or receiving installment payments from the disposition of U.S. real property interests value in excess of $5000. Prescribes civil penalties for organizations or foreign persons who fail to file such returns. Overrides, for taxable years after December 31, 1984, tax treaties which would exempt foreign investors from the requirements established by this Act. Amends the Internal Revenue Code and the Social Security Act to include payments of the employees' social security and unemployment taxes within the employees' wages for purposes of benefit computation, except for domestic servants. Exempts such payments by governmental units until January 1, 1984.
United States · United States Congress · 25 June 1980
Tax Reduction - Job Creation Act - Title I: Individual Tax Rates - Amends the Internal Revenue Code to reduce income tax rates for each category of individual taxpayers. Title II: Incentives for New Plant and Equipment - 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 taxpayers 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 · 17 June 1980
Amends the Internal Revenue Code to allow, for estate and gift tax purposes, effective disclaimer of an interest created by a transfer of property made before November 15, 1958 if: (1) such disclaimer otherwise satisfies the requirements for such disclaimers; and (2) it is made within nine months following enactment of this Act, or within nine months after the disclaimant receives knowledge of such interest (but not later than December 31, 1991).
United States · United States Congress · 17 June 1980
Product Liability Partial Self-Insurance Act of 1980 - Amends the Internal Revenue Code to allow a deduction to any business enterprise engaged in the manufacture, importation, distribution, lease, or sale of any product for contributions to its product liability trust account and for amounts paid to a captive insurer (wholly or partially-owned by the taxpayer) for product liability insurance. Specifies the amount a taxpayer may deduct, based upon the ability of such taxpayer to obtain insurance through conventional channels. Disallows any deductions for product liability losses which do not exceed the sum of the total trust funds in the taxpayer's account at the beginning of the taxable year plus the amount of deductible payments made by the taxpayer to the account during each year. Imposes penalties for the improper use of product liability reserve funds. Treats amounts accumulated in the taxpayer's product liability trust account as amounts accumulated for reasonable anticipated business needs, for purposes of avoiding the accumulated earnings tax.
United States · United States Congress · 12 June 1980
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) prevent the payment of disability benefits to an individual where the disability occurred in connection with the commission of a crime for which the individual was convicted or where the disability arose from the individuals' confinement in a penal institution; (2) exclude from the definition of "full-time student" any individual incarcerated in a penal institution pursuant to a felony conviction; and (3) state that rehabilitation services shall be considered generally inappropriate for an individual confined in a penal institution pursuant to a felony conviction and that such individual shall be deemed to have refused such services, unless a court of law determines otherwise.
United States · United States Congress · 12 June 1980
Amends the Internal Revenue Code to reduce the rate of excise tax on: (1) highway vehicle tires from $.10 to $.0975 (and on or after October 1, 1984, to $.04875); and (2) other tires (except laminated tires) from $.05 to $.04875. Requires determination of any overpayment of such tax arising by reason of an adjustment for such reduction after the original sale pursuant to warranty, in accordance with principles set forth in regulations and rulings in effect on March 31, 1978. Applies this requirement to the adjustment of any tire between March 31, 1978, and January 1, 1983. Prohibits any credit or refund for adjustments after December 31, 1982.
United States · United States Congress · 11 June 1980
Farm Credit Act Amendments of 1980 - 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 and in other financial assistance extended 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 and in other financial assistance extended 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, or purchase from other financial institutions, loans made to producers and harvesters of aquatic products. 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. Requires the borrower's operation to provide a specified percentage of the total processing or marketing for which financing is extended. Title III: Banks For 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 and in 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 cooperatives 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. Sets forth guidelines for regulations governing the extension of such assistance. 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 and by specified agricultural credit corporations 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 and specified agricultural credit corporations 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 is similar to those which have been imposed by the Truth in Lending Act. Requires each Federal land bank association and production credit association to prepare a program for furnishing sound and constructive credit and related services to young, beginning, and small farmers and ranchers. Directs the Federal land bank and the Federal intermediate credit bank for each district to annually obtain reports of activities under such programs. 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. Applies State and other laws relevant to organizing banks to such corporations, except for specified tax exemptions. Authorizes the sale to Farm Credit System members of insurance to protect the loan commitment and the member's farm or aquatic unit, with specified limitations. Permits banks and associations already offering insurance not authorized by this section to continue to sell such insurance for one year and continue to service such insurance until expiration. Title V: District and Farm Credit Administration Organization - Permits the Virgin Islands to be included within a farm credit district, if the extension of credit and other services in the Virgin Islands is determined to be feasible. Revises the process for the election of farm credit district directors by reducing from three to two the number of nominees on 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. Authorizes the banks of the System, with the concurrence of two-thirds of the district boards, to sell or otherwise dispose of any interest in property. Requires the Farm Credit Administration to make annual reports to Congress which include a summary of any unresolved differences arising out of consultations with the Board of Governors of the Federal Reserve System and the Comptroller of the Currency and a summary and analysis of specified reports submitted to such Administration by the Federal land banks and Federal intermediate credit banks relating to programs for serving young, beginning, and small farmers and ranchers. Eliminates the requirement that such Administration maintain its principal office in the District of Columbia.
United States · United States Congress · 10 June 1980
Amends the Internal Revenue Code to provide that deferred compensation plans shall not be deemed as not satisfying minimum vesting standards even if there is a reasonable likelihood that the accrual of benefits or forfeitures under such plans will tend to discriminate in favor of employees who are officers, shareholders, or highly compensated.
United States · United States Congress · 9 June 1980
Extends the congratulations of the Congress to the Order of the Sons of Italy in America for their 75th anniversary. Proclaims Sunday, June 22, 1980, as "National Italian-American Day."
United States · United States Congress · 4 June 1980
Extends the congratulations of the House of Representatives to the Order of the Sons of Italy in America for their 75th anniversary.
United States · United States Congress · 30 May 1980
Amends the Internal Revenue Code to provide that meals furnished by employers to employees which are excluded from such employees' income shall not be subject to taxes under the Federal Insurance Contributions Act or the Federal Unemployment Tax Act.
United States · United States Congress · 28 May 1980
Amends the Copyright Act of 1976 to permit nonprofit educational institutions to compensate specified performers or organizers without such action constituting an infringement of copyright.
United States · United States Congress · 22 May 1980
Extends the temporary increase of the public debt limit from May 31, 1980, to June 30, 1980.
United States · United States Congress · 22 May 1980
Amends the Rules of the House of Representatives to authorize standing committees with more than 20 members to establish not more than six subcommittees. Sets forth a schedule for current standing committees with more than six subcommittees to reduce the number of subcommittees in the 97th and 98th Congresses. Limits Members to service on no more than five subcommittees at any one time, excluding ad hoc committees. Directs that service on select, permanent select, joint, or special committees shall be counted as service on one subcommittee. Provides that chairmen and ranking minority members of committees shall not count ex officio membership on subcommittees. Authorizes Members who currently serve on more than six subcommittees to serve on six subcommittees in the 97th Congress. States that subcommittees include any subunit of a committee established for a period of more than six months, and that members include Delegates and Resident Commissioners to the House of Representatives. Makes this resolution effective January 3, 1981.
United States · United States Congress · 20 May 1980
Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1979.
United States · United States Congress · 19 May 1980
Amends the Internal Revenue Code to allow a deduction for cash and other personal property contributions to a savings account created or organized exclusively for the purpose of paying the educational expenses of the taxpayer or the taxpayer's child. Limits the amount of such deduction to $1,000 per year, adjusted for inflation. Limits the duration of eligibility for such deduction to calendar years prior to the account beneficiary's 21st birthday, or prior to the beneficiary's enrollment as a full-time student at an eligible educational institution of higher learning, whichever occurs earlier. Excludes distributions from such an account from the gross income of the payee so long as such distributions are used to defray the beneficiary's tuition, fees, books and supplies, and reasonable living expenses. Specifies sanctions for the use of account funds for other than such educational purposes. Treats qualified distributions as income to the beneficiary for the taxable year in which the beneficiary attains age 25, and for each of the following nine years, in successive apportionments equal to ten percent of the total amount of such distributions. Allows a deduction for cash and other personal property contributions to a savings account created or organized for the benefit of the taxpayer (or the taxpayer and spouse if married) for the exclusive purpose of purchasing the first dwelling purchased by such individual as a principal residence. Limits the maximum annual deduction to $1,500 ($3,000 in the case of married individuals filing jointly), with a maximum lifetime deduction of $15,000 ($30,000 in the case of married individuals filing jointly). Provides for annual inflation adjustment of such amounts. Excludes distributions from such account from gross income so long as they are used exclusively for the purchase of a first principal dwelling. Provides for recapture of such distribution upon a subsequent sale of such first dwelling if another house is not purchased with the proceeds. Requires reduction of the $100,000 exclusion from gross income of proceeds from the sale of a principal residence by a taxpayer 55 years of age or older if such residence had been purchased with distributions from a tax-exempt housing savings account. Limits the amount of such reduction to the amount of any such distribution excluded from gross income.
United States · United States Congress · 19 May 1980
Amends the Internal Revenue Code to exclude from the gross investment income of life insurance companies dividends received by such companies as members of an affiliated group.