An amendment to direct the NRC to promulgate standardized plans for nuclear power plant construction within 120 days of the date of enactment of this Act.
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United States · United States Congress · 6 October 1992
Tax Fairness Restoration and Economic Growth Act - Title I: Tax Reductions - Subtitle A: Capital Gains Provisions - Amends the Internal Revenue Code to exclude capital gain from gross income and exempt capital gain from tax. Makes such exemption applicable to computing the alternative minimum tax. Subtitle B: Restoration of Income Averaging - Sets forth provisions to restore income averaging. Subtitle C: Elimination of Double Tax on Dividends - Allows a shareholder credit (for taxpayers other than corporations) for dividends from domestic corporations. Provides for determining such credit based on the corporation's post-1992 Federal income taxes and post-1992 undistributed earnings. Includes such credit in the determination of gross income. Allows corporations a 100 percent deduction for amounts received as dividends from domestic corporations. Revises computations on dividends received by corporations on the preferred stock of a public utility. Subtitle D: Permanent Extension of Research Credit - Makes permanent law the credit for increasing research activities. Subtitle E: Reduction of Individual Tax Rate - Reduces individual income tax rates by eliminating the highest tax bracket. Subtitle F: Retirement Savings Incentives - Part I Restoration of IRA Deduction - Amends the Internal Revenue Code to remove the limitations on deductions for individual retirement plans and provides a cost-of-living adjustment for deductible amounts. Part II: Nondeductible Tax-Free IRAs - Establishes special individual retirement accounts that are nondeductible. Makes such accounts nontaxable if earnings on contributions are held for at least five years. Applies the early withdrawal penalty to distributions made before the end of the five year-period. Part III: Penalty-Free Distributions - Provides exemptions from the ten-percent penalty on early withdrawals from individual retirement plans for: (1) first home purchases; (2) higher education expenses; and (3) financially devastating medical expenses. Subtitle G: Repeal of Excise Penalty Taxes on Autos - Repeals the excise tax on luxury items (passenger vehicles, boats, aircraft, jewelry, and furs). Subtitle H: Repeal of Limitation On Itemized Deductions - Repeals the overall limitation on itemized deductions. Subtitle I: Repeal of Passive Loss Limitations - Repeals passive loss limitations. Subtitle J: Restoration of 10-Percent Investment Credit - Restores the ten percent investment tax credit for property placed in service after enactment of this Act. Subtitle K: Restoration of Accelerated Cost Recovery System - Restores the accelerated cost recovery system as in effect on the day after the enactment of the Economic Recovery Tax Act of 1981. Subtitle L: Credit for First-Time Homebuyer - Allows a credit for a first-time homebuyer of ten percent of the price of the principal residence. Limits such credit to $2,500. Requires the residence to be acquired on or after February 1, 1992, and before January 1, 1993. Title II: Taxpayer Bill of Rights - Subtitle A: Additional Safeguards to Protect Taxpayers' Rights - Part I: Taxpayers' Advocate - Amends the Internal Revenue Code to establish in the Internal Revenue Service (IRS) the Office of Taxpayers' Advocate, headed by the Taxpayers' Advocate, appointed by the President, by and with the advice and consent of the Senate. Requires the Office to: (1) assist taxpayers in resolving problems with the IRS; (2) identify areas in which taxpayers have problems in dealings with the IRS; (3) propose changes in the administrative practices of the IRS to mitigate such problems; and (4) identify potential legislative changes which may be appropriate to mitigate such problems. Requires the Taxpayers' Advocate to annually report to specified congressional committees on Office activities. Requires the Commissioner of Internal Revenue to establish procedures requiring a formal response to all recommendations submitted to the Commissioner by the Taxpayers' Advocate. Authorizes the terms of a Taxpayer Assistance Order to require the Secretary of the Treasury to take certain actions (currently, only to cease or refrain from taking such actions). Part II: Modifications to Installment Agreement Provisions - Requires prior notification to taxpayers under an installment agreement to pay tax liability before altering, modifying, or terminating such an agreement. Provides for administrative review of denials of requests for installment agreements. Suspends the failure to pay penalty during any period an installment agreement is in effect. Part III: Interest - Extends from ten days to 21 days the period for which interest will not be imposed after notice and demand for payment, if such payment is less than $100,000. Provides for the abatement of interest in the case of an assessment due to the error or delay of an IRS managerial act. Increases the interest rate for overpayment of tax from two percent to three percent (making such rate equal to the interest rate for underpayment of tax). Waives interest on all overpayments refunded within 45 days after a return is filed. Part IV: Joint Returns - Requires separate deficiency notices in the case of a joint income tax return if the most recent data available to the IRS shows that such spouses did not file a joint return with each other. Allows the disclosure of collection activities to an individual requesting such information in the case of a joint return where such individual is no longer married to or resides in the same household as the other joint filer. Removes limitations on filing a joint return after filing separate returns. Part V: Collection Activities - Authorizes the Secretary, if it is determined to be in the best interest of the taxpayer and the United States, to: (1) withdraw a notice of a lien; (2) return property that has been levied upon; and (3) offer compromises in civil or criminal cases. Requires the Secretary, at the request of the taxpayer, to make reasonable efforts to notify credit reporting agencies and financial institutions of such withdrawal notice. Part VI: Erroneous and Fraudulent Information Returns - Requires payee statements to provide the phone number of the person providing payment. Establishes civil damages for the fraudulent filing of information returns. Requires the Secretary to take reasonable steps to corroborate the accuracy of an information return when making a determination of a deficiency by a third party, when such return is disputed by the taxpayer. Part VII: Modifications to Penalty for Failure to Collect and Pay Over Tax - Declares that a person shall not be liable for any penalty for failure to collect and pay over tax if such person: (1) is not a significant owner, or highly compensated employee of the trade or business; (2) notifies the Secretary within ten days after such failure; and (3) such notification was before any notice by the Secretary with respect to such failure. Requires the Secretary to disclose certain information where more than one person is liable for a penalty. Part VIII: Awarding of Costs and Certain Fees - Repeals the "substantially justified" test for determining whether a taxpayer may recover costs and fees incurred as part of an administrative or court proceeding. Provides for the awarding of reasonable litigation or administrative costs to a prevailing party who represents himself in an administrative or court proceeding. Makes IRS employees personally liable in certain cases. Provides that any failure to agree to an extension of time for the assessment of any tax shall not be taken into account in determining whether a prevailing party has exhausted all administrative remedies. Part IX: Other Provisions - Revises provisions on the required content of tax due, deficiency, and other notices. Provides for the treatment of returns prepared for or executed by the Secretary for purposes of certain tax penalties. Provides protection for taxpayers who rely on certain guidance published by the IRS. Subtitle B: Form Modifications - Directs the Secretary to: (1) ensure that taxpayers are aware of permission to pay tax in installments, extensions of time for payment of tax, and compromises of tax liability; (2) improve procedures for taxpayers to notify the Secretary of changes in names and addresses; (3) include in a specified publication a section on the rights and responsibilities of divorced individuals; (4) ensure that employees are aware of their responsibilities under the Federal tax system and that the public is aware of penalties for failure to collect and pay over tax; and (5) notify taxpayers of any payments that cannot be associated with any outstanding tax liability. Subtitle C: Additional Improvements - Requires the Secretary to report to the tax-writing committees on: (1) a pilot program for appeals of certain enforcement actions (including lien, levy, and seizure actions); (2) a study on ways to assist the elderly, physically impaired, foreign-language speaking, and other taxpayers with special needs to comply with IRS laws; (3) the scope and content of the IRS taxpayer-rights education program for its officers and employees; and (4) cases involving complaints about misconduct of IRS employees and the disposition of such complaints. Requires the Comptroller General to report to the tax-writing committees on: (1) a study of notices of deficiency; (2) the accuracy and clarity of 25 of the most commonly used IRS forms, notices, and publications; and (3) a study of IRS employee-suggestion programs.
United States · United States Congress · 6 October 1992
Designates the Federal building and U.S. courthouse to be constructed at Fifth and Ross Streets in Santa Ana, California, as the Ronald Reagan Federal Building and Courthouse.
United States · United States Congress · 30 September 1992
Taxpayer Protection, Deposit Insurance Reform, and Regulatory Relief Act of 1992 - Title I: 100 Percent Cross-Guarantees - Subtitle A: Definitions - Sets forth definitions relating to depository institutions, non-depository guarantors, affiliates, financial terms, and funds. Subtitle B: Cross-Guarantee Process - Sets forth a cross-guarantee mechanism whose purpose is to: (1) protect the full amount of deposits by prohibiting depository institutions from operating without a cross-guarantee contract issued by syndicates of guarantors; (2) charge risk-sensitive premiums for the guarantees provided; (3) establish a self-regulating system with stop-loss mechanisms; and (4) regulate the cross-guarantee marketplace only to the extent of maintaining its soundness and viability (but not the solvency of any individual depository institution regardless of its size). Includes a stop-loss limit for losses of a guaranteed party as a direct guarantor of other guaranteed parties. Requires the cross-guarantor's contract obligations to be independent of the obligations of any other party under the contract. Prohibits direct guarantors under any cross-guarantee or stop-loss contract from obtaining collateral for cross-guarantee obligations. Sets forth the requirements for: (1) cross-guarantee contracts; (2) stop-loss contracts; (3) direct guarantors; and (4) cross-guarantee and stop-loss syndicates. Declares that any action arising under a cross-guarantee or stop-loss contract shall be deemed to arise under Federal law. Confers original jurisdiction upon the Federal courts for any action arising under such contracts. Subtitle C: Powers and Duties of the FDIC - Grants the Federal Deposit Insurance Corporation (FDIC) exclusive enforcement, regulatory, and approval authority over the cross-guarantee process. Outlines the FDIC approval process for cross-guarantee and stop-loss contracts. Requires the FDIC to provide for the incorporation of a stock, for-profit corporation to establish and maintain a central electronic repository for: cross-guarantee, stop-loss, and group cross-guarantee syndicate contracts. Mandates that the repository files be directly accessible to any direct guarantor, guaranteed party, syndicate agent, and other eligible persons. Precludes any cross-guarantee or stop-loss contract from taking effect until it is in such repository file. Vests management authority for the repository in a board of directors. Prohibits closed loop situations (i.e., a group of institutions guarantee each other without sharing such risk with outside guarantors). Requires syndicate agents under a cross guarantee contract to submit periodic status reports to the FDIC regarding guaranteed depository institutions. Cites conditions under which the FDIC must appoint itself conservator or receiver for a depository institution guaranteed under a cross-guarantee contract. Establishes an FDIC- administered cross-guarantee backup fund to pay for: (1) the administrative expenses incurred in regulating the cross-guarantee system and providing deposit insurance; and (2) any loss incurred by a depositor in connection with an insured deposit at a depository institution. States that deposits in any guaranteed depository institution shall be insured against loss to the same extent as deposits are insured against loss by the FDIC (as in effect before the date of enactment of this Act) if the FDIC cannot recover adequate funds to pay for any loss due to the appointment or receiver under this Act. Subtitle D: Miscellaneous Provisions - Requires the FDIC to: (1) ensure that all deposit-taking institutions, with specified exceptions, become guaranteed under a cross-guarantee contract; and (2) establish the Cross-Guarantee Advisory Committee to advise the FDIC Board of Directors regarding the operation and regulation of the cross-guarantee process. Declares that no collateral is required for lending by any Federal Reserve Bank to a guaranteed company. Requires the Board of Governors of the Federal Reserve System to submit annual status reports to certain congressional committees regarding losses incurred as a result of lending within the cross-guarantee system. Permits a cross-guarantee company or banking office to advertise that deposits and certain other liabilities under an FDIC-approved cross-guarantee contract are fully guaranteed against loss. Subtitle E: Transition to 100 Percent Cross-Guarantee Process - Sets forth a conversion schedule to implement an eight-year transition period for the cross-guarantee system, which shall become effective when a specified minimum number of FDIC-approved cross-guarantee contracts and total assets are approved. Requires the FDIC immediately to appoint a conservator or receiver for any depository institution which has not complied with such schedule. Prescribes guidelines for severance pay and related benefits for former State and Federal banking agency employees. Title II: Amendments to Other Laws - Amends Federal banking laws to conform with the provisions of this Act, including amendments relating to: (1) national banks; (2) Federal Reserve System member banks; (3) savings associations; (4) savings and loan holding companies; (5) the FDIC; and (6) Federal bankruptcy law.
United States · United States Congress · 25 September 1992
Expresses the sense of the Congress that if Saudi Arabia acquires F-15 aircraft from the United States it should demonstrate its peaceful intentions by lifting its economic boycott against Israel and against U.S. companies that trade with Israel.
United States · United States Congress · 12 August 1992
Authorizes the President, on behalf of the Congress, to present a gold medal to John Birks "Dizzy" Gillespie in recognition of his accomplishments as a musician. Authorizes appropriations. Authorizes the Secretary of the Treasury to provide for the sale of bronze duplicates of the medal.
United States · United States Congress · 12 August 1992
Designates the week beginning November 8, 1992, as Hire a Veteran Week.
United States · United States Congress · 6 August 1992
Repeals the Service Contract Act of 1965.
United States · United States Congress · 6 August 1992
Expresses the sense of the House of Representatives that: (1) a presidential commission should be established to investigate whether there has been any measurable depletion of stratospheric ozone beyond the seasonal variations caused by natural phenomena; (2) such commission should investigate whether it has been proven that the use of man-made chlorofluorocarbons damages stratospheric ozone and whether the phaseout of chlorofluorocarbons will have any effect on ozone levels in the stratosphere; and (3) the membership of the commission should be equally apportioned between representatives from the scientific community whose published research shows that chlorofluorocarbons have a negligible effect on ozone depletion and representatives whose research makes contrary claims.
United States · United States Congress · 24 July 1992
Sets forth the rule for the consideration of H.J. Res. 240 (public school prayer).
United States · United States Congress · 22 July 1992
Eliminates a mandated 25 percent salary increase for Members of Congress until a Constitutional amendment has been proposed to the States requiring a balanced Federal budget.
United States · United States Congress · 8 July 1992
Authorizes and directs the Director of the Office of Management and Budget to develop and submit to the President and the Congress a plan to reduce Federal overhead costs by ten percent of FY 1992 levels.
United States · United States Congress · 7 July 1992
Health Freedom Act of 1992 - Amends the Federal Food, Drug, and Cosmetic Act to define "dietary supplement" as an article that: (1) includes, and is intended to supplement the diet with, a vitamin, mineral, herb, or another similar nutritional substance; or (2) is intended for ingestion in tablet, capsule, or liquid form, or another similar form. Provides that a dietary supplement shall not be considered to be a drug solely because: (1) of the potency of a substance in such supplement; and (2) the labeling or advertising for the supplement contains a claim, or provides information, concerning the potency of a substance in the supplement, or contains a health claim of the type permitted under this Act. Specifies that: (1) a substance in a dietary supplement is not a food additive if the substance is identified in the labeling of the dietary supplement as a substance provided by the product to supplement the diet; and (2) an article that is a dietary supplement may be described as a dietary supplement in labeling or advertising. Permits labeling or advertising for such a supplement to include a claim or other information that characterizes the relationship of the supplement, or the presence or absence of one or more of the substances provided by the supplement, to a disease or health-related condition, if: (1) such claim or other information is truthful and not misleading; and (2) there is scientific evidence, whether published or unpublished, that provides a reasonable basis for such claim or other information. Prohibits the Secretary of Health and Human Services from establishing any requirement that such a claim or other information that meets the requirements of this Act be approved by or conform to a regulation issued by the Secretary before the claim or information may be used. Provides that, if the Secretary asserts that labeling or advertising for a dietary supplement includes a claim or other information that fails to comply with the Act, the manufacturer (or other specified parties) may bring an action to secure a declaratory judgment regarding the validity of the assertion and obtain any other means of judicial relief authorized by law.
United States · United States Congress · 25 June 1992
Provides for settlement of certain unresolved railroad labor-management disputes. Sets forth conditions which shall apply during the resolution of such disputes. Requires all carriers and all employees affected by such unresolved disputes (referred to in three specified Executive Orders of March 31, 1992) to take all necessary steps to restore or preserve the conditions that existed before June 24, 1992 (when a strike and lockouts caused a railroad stoppage). Provides for appointment of arbitrators. Requires, within three days after enactment of this joint resolution (enactment date), the carrier parties and the labor union party, respectively, in each such dispute to each appoint one individual from the National Mediation Board's roster of arbitrators. Requires each of these pairs of individuals to select an arbitrator for that dispute, within working six days of the enactment date. Allows one individual arbitrator to be so selected for more than one of these disputes. Prohibits from being selected as an arbitrator any specified interested individual or anyone who has served as a member of any of four specifed Presidential Emergency Boards. Provides for conduct of negotiations. Requires the parties to such unresolved disputes, during the 20-day period beginning on the enactment date, to conduct negotiations for the purpose of reaching agreement on the disputes. Provides that the selected arbitrators shall be available for consultation with the parties during this initial negotiating period. Requires both the labor union and the carrier (or carriers), if they have not reached agreement within such initial period, to each submit its final offer to the arbitrator and the other party (or parties), within five days after such initial period. Requires the parties, with the assistance of the arbitrator, to engage in final negotiations to attempt to reach agreement, upon submission of such final offers and during the seven days thereafter. Requires the arbitrator, if the parties fail to reach agreement during such final negotiating period, to render a decision, within the three days following the end of such period, by selecting one of the proposed written contracts submitted under the final offers, without modification. Requires such decision and selected contract to be immediately submitted to the President. Requires the President to approve or disapprove such decision and selected contract within three days of receipt (thus providing a 38-day period after the enactment date for the entire process). Makes the selected contract, if the President approves it, binding on parties with the same effect as though arrived at by agreement of the parties under the Railway Labor Act. Provides, if the President disapproves such decision and selected contract, that the parties shall have those rights under the Railway Labor Act that they had at 12:01 A.M. on June 24, 1992 (including rights to self-help such as strikes by labor and lockouts by management). Sets forth special rules with respect to tentative agreements. Allows, upon agreement of the parties, final offers to be submitted at any time after enactment of this joint resolution. Precludes judicial review of any decision of an arbitrator under this joint resolution. Declares that nothing in this joint resolution shall prevent a mutual written agreement to any different terms and conditions.
United States · United States Congress · 25 June 1992
Provides for settlement of certain unresolved railroad labor-management disputes. Sets forth conditions which shall apply during the resolution of such disputes. Requires all carriers and all employees affected by such unresolved disputes (referred to in three specified Executive Orders of March 31, 1992) to take all necessary steps to restore or preserve the conditions that existed before June 24, 1992 (when a strike and lockouts caused a railroad stoppage). Provides for appointment of arbitrators. Requires, within three days after enactment of this joint resolution (enactment date), the carrier parties and the labor union party, respectively, in each such dispute to each appoint one individual from the National Mediation Board's roster of arbitrators. Requires each of these pairs of individuals to select an arbitrator for that dispute, within working six days of the enactment date. Allows one individual arbitrator to be so selected for more than one of these disputes. Prohibits from being selected as an arbitrator any specified interested individual or anyone who has served as a member of any of four specifed Presidential Emergency Boards. Provides for conduct of negotiations. Requires the parties to such unresolved disputes, during the 20-day period beginning on the enactment date, to conduct negotiations for the purpose of reaching agreement on the disputes. Provides that the selected arbitrators shall be available for consultation with the parties during this initial negotiating period. Requires both the labor union and the carrier (or carriers), if they have not reached agreement within such initial period, to each submit its final offer to the arbitrator and the other party (or parties), within five days after such initial period. Requires the parties, with the assistance of the arbitrator, to engage in final negotiations to attempt to reach agreement, upon submission of such final offers and during the seven days thereafter. Requires the arbitrator, if the parties fail to reach agreement during such final negotiating period, to render a decision, within the three days following the end of such period, by selecting one of the proposed written contracts submitted under the final offers, without modification. Requires such decision and selected contract to be immediately submitted to the President. Requires the President to approve or disapprove such decision and selected contract within three days of receipt. (Thus providing a 38-day period after the enactment date for the entire process.) Makes the selected contract, if the President approves it, binding on parties with the same effect as though arrived at by agreement of the parties under the Railway Labor Act. Provides, if the President disapproves such decision and selected contract, that the parties shall have those rights under the Railway Labor Act that they had at 12:01 A.M. on June 24, 1992 (including rights to self-help such as strikes by labor and lockouts by management). Sets forth special rules with respect to tentative agreements. Allows, upon agreement of the parties, final offers to be submitted at any time after enactment of this joint resolution. Precludes judicial review of any decision of an arbitrator under this joint resolution. Declares that nothing in this joint resolution shall prevent a mutual written agreement to any different terms and conditions.
United States · United States Congress · 18 June 1992
Directs the National World War II Memorial Fund, Inc., to construct a memorial on Federal land in the District of Columbia or its environs to: (1) honor members of the armed forces who served in World War II; and (2) commemorate U.S. participation in that conflict. Directs the fund to plan, design, and oversee the construction of the Memorial. Establishes the World War II Memorial Advisory Board to: (1) promote and encourage the donation of private funds for the construction of the Memorial; and (2) recommend the site for and assist in the selection of the design of the Memorial. Terminates the Board within 30 days after completion of the Memorial or on the lapse of the authority provided by this Act. Authorizes the Fund to solicit and accept private contributions for construction of the Memorial. States that the requirements and authority of this Act shall lapse if: (1) construction of the Memorial is not commenced within seven years of its enactment; or (2) before such construction, the Secretary of the Interior certifies that funds are not available in an amount sufficient to ensure its completion.
United States · United States Congress · 5 June 1992
Declares that it is the sense of the Congress that: (1) the Federal Government should develop and implement a comprehensive program to prevent transmission of the human immunodeficiency virus and improve treatment for infected individuals; and (2) the program should include mandatory routine testing of all U.S. residents between 14 and 55 years old, contract tracing, protection of infected individuals' civil rights, health care delivery reforms, scientific research, a national public education campaign, and Federal criminal penalties for knowingly transmitting the virus.
United States · United States Congress · 28 May 1992
Designates the week beginning November 8, 1992, as National Women Veterans Recognition Week.
United States · United States Congress · 27 May 1992
Postal Patron Privacy Act of 1992 - Authorizes the Postal Service to permit its officers or employees to disclose the names and addresses of postal patrons if such disclosure: (1) consists of information relating to a change of address that was obtained on a Postal Service form which informed the patron of how the information would be disclosed and provided a means for the patron to deny disclosure; (2) has not been denied; and (3) would contribute to the efficiency of postal operations.
United States · United States Congress · 21 May 1992
Withdraws most favored nation status from the Federal Republic of Yugoslavia. Authorizes the President to restore such status after he certifies to the Congress that: (1) such treatment would promote compliance with the provisions of the Final Act of the Conference on Security and Cooperation in Europe; and (2) Yugoslavia has ceased its armed conflict with the other ethnic peoples of the region, and has agreed to respect the borders of the six republics, that formerly comprised the Socialist Federal Republic of Yugoslavia.
United States · United States Congress · 21 May 1992
Fundamental Competitiveness Act of 1992 - Title I: Public Debt Reduction - Allows individual taxpayers to designate a portion of tax liability (not to exceed ten percent) on their tax returns to reduce the public debt. Establishes the Public Debt Reduction Trust Fund consisting of amounts so designated. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to provide for a sequestration of revenues equivalent to the estimated aggregate amount so designated. Specifies accounts exempted from such sequestration and establishes reporting requirements with respect to budget procedures. Title II: Capital Formation - Establishes a method of computing the credit for increasing research activities based on aggregate research expenses, as an alternative to the method based on qualified research expenses. Establishes a variable capital gains deduction whose formulas on a sliding scale range from ten percent for assets held for one year up to 100 percent for assets held for ten years. Allows a deduction of 50 percent of the capital gain from stock investments by non-corporate taxpayers in start-up companies where initial stock offerings are held for two years. Requires indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangle property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other disposition, solely for the purpose of determining gain or loss. Permits an income tax deduction in the amount of dividends paid by domestic corporations, except S corporations, regulated investment companies, real estate investment trusts, and personal holding companies. Repeals the income tax deductions currently permitted in connection with: (1) dividends received by a corporation; (2) dividends received by a corporation on the preferred stock of a public utility; and (3) dividends paid by a public utility on its preferred stock. Increases the deductible percentage of amounts received by a corporation from a qualified ten-percent owned foreign corporation. Allows a charitable deduction for corporate contributions of employee volunteer services to an educational organization. Establishes an investment tax credit for manufacturing and other productive equipment. Provides for determining the applicable percentage of such credit, which includes an efficiency improvement percentage. Increases the limitation based on the amount of tax for purposes of the general business credit. Provides for the treatment of losses on stock in manufacturing companies as ordinary (as opposed to capital) losses. Allows a partial exclusion of dividends or interest received by an individual. Provides for ordinary-loss treatment for losses on investments in a qualified startup company. Describes such company as one which: (1) manufacture tangible personal property in the United States; (2) does not involve a business acquired from another person; and (3) has not been in existence for more than one taxable year at the time it issued stock. Title III: Antitrust - Amends the Clayton Act to bar the acquisition by one corporation of stock of another, subject to specified conditions, where there is a significant probability that such acquisition will substantially increase the ability to exercise market power (currently, where the effect of such acquisition may be to substantially lessen competition or to tend to create a monopoly). Defines the ability to exercise market power for purposes of such provision as the ability of one or more firms profitably to maintain prices above competitive levels for a significant period of time. Directs the court, in determining whether there is a significant probability that any acquisition will substantially increase the ability to exercise market power, to consider all economic factors relevant to the effect of the acquisition in the affected markets, including: (1) the number and size distribution of firms and the effect of the acquisition thereon; (2) the ease or difficulty of entry by foreign or domestic firms; (3) the ability of smaller firms in the market to increase production in response to an attempt to exercise market power; (4) the nature of the product and terms of sale; (5) conduct of firms in the market; (6) efficiencies deriving from the acquisition; and (7) any other evidence indicating whether the acquisition will or will not substantially increase the ability, unilaterally or collectively, to exercise market power. Amends the National Cooperative Research Act of 1984 to include a joint production venture within the scope of such Act as an activity that shall not be deemed illegal per se under the antitrust laws. Changes the short title of such Act to the National Cooperative Research, Development, and Production Act. Title IV: Business Liability - Subtitle A: Findings - Makes findings with respect to the increasing amount of litigation in our society and the desirability of encouraging alternative dispute mechanisms and providing uniform legal standards in the areas of professional and product liability. Subtitle B: Professionals' Liability Reform - Professionals' Liability Reform Act of 1992 - Establishes certain limitations and procedures regarding professional liability actions. Preempts certain State laws. Provides that nothing in this Act shall prohibit any State from developing or implementing alternative procedures for: (1) expediting the adjudication of professional liability claims; (2) resolving professional liability disputes; or (3) compensating for harm caused by professional services. Requires professional liability actions to be brought within three years after the claimant discovered, or should have discovered, the harm. Requires the claimant, in any professional liability action, to establish: (1) that the professional negligently rendered professional services and that such negligence was the proximate cause of the harm; or (2) in a claim for economic injury, that the professional negligently rendered professional services to and for the direct and intended benefit of the claimant, and such services were the proximate cause of the harm. Requires the claimant to establish that, at the time such services were provided, knowledge of the circumstances that caused the harm and a practical means to eliminate such circumstances were reasonably available. States that a professional shall not be liable in a professional liability action in which: (1) the professional's services were rendered to an agency of the Federal or State government; (2) Federal or State contract specifications existed which were material to the claim; and (3) the services rendered conformed to such specifications. Permits future damage awards exceeding $100,000 to be made by periodic payments. Requires that damage awards be offset by any amount received as compensation for the same injury. Establishes a contingency fee schedule for plaintiffs' attorneys. States that the principles of comparative liability shall apply unless persons engaged in concerted action which proximately caused the harm. Permits the awarding of punitive damages only where the conduct of the defendant: (1) manifested a malicious and reckless disregard for safety; and (2) constituted an extreme departure from accepted standards of safety. States that punitive damages may not be awarded in the absence of a compensatory award, or for the negligent provision of professional services. Requires the trier of fact, at the request of the professional, to consider in a separate proceeding whether punitive damages are to be awarded. Limits the claimant's actual recovery of punitive damages to three times the amount of compensatory damages. States that excess punitive damages shall be paid to the State or Federal government. Makes any attorney who files a frivolous claim subject to pecuniary sanctions by the court. Requires each State to encourage professional organizations to form risk management programs. Subtitle C: Product Liability Fairness - Part I: General Provisions - Product Liability Fairness Act - Declares that this Act governs any product liability action brought against a manufacturer or product seller, on any theory, for harm caused by a product. States that a civil action brought against a manufacturer or product seller for loss or damage to a product itself or commercial loss shall be governed by applicable commercial or contract law. Supersedes any inconsistent State law regarding recovery in such actions. Lists specific laws not superseded, including: (1) defense of sovereign immunity asserted by any State or by the United States; (2) any Federal law (except the Federal Employees Compensation Act and the Longshore and Harbor Workers' Compensation Act); (3) the Foreign Sovereign Immunities Act of 1976; (4) State choice-of-law rules; (5) the right of any court to transfer venue or to apply the law of a foreign nation or to dismiss a claim of a foreign nation or citizen on the ground of inconvenient forum; and (6) any statutory or common law cause of action, including an action to abate a nuisance, that authorizes a State or person to institute an action for civil damages or civil penalties, clean up costs, injunctions, restitution, cost recovery, punitive damages, or any other form of relief from contamination or pollution of the environment or the threat of it. Declares that U.S. district courts shall not have jurisdiction over any civil action under this Act, based on specified provisions of Federal law relating to district court jurisdiction. Declares that, if any provision of this Act would shorten the period during which a manufacturer or seller would otherwise be exposed to liability, the claimant may, notwithstanding that period, bring any civil action under this Act within one year after the effective date of this Act. Part II: Out of Court Procedures - Allows any claimant to bring a civil action for damages against a person for harm caused by a product under applicable State law, except to the extent such law is superseded by this title. Sets forth expedited settlement measures, including: (1) an option to include an offer of settlement, for a specific dollar amount, by the plaintiff in the complaint and by the defendant in a responsive pleading; and (2) awarding attorney's fees and costs, in certain circumstances, to the prevailing party if the other party does not accept the settlement offer. Sets forth alternative dispute resolution procedures, including: (1) an option, in lieu of or in addition to a settlement offer, for a claimant or a defendant to offer to proceed under any voluntary alternative dispute resolution procedure established or recognized under the law of the State in which the action is brought or maintained; and (2) awarding of attorney's fees and costs to the offering party if the court determines that a refusal to so proceed was unreasonable or not in good faith. Creates a rebuttable presumption that a refusal to so proceed was unreasonable, or not in good faith, if a verdict is rendered in favor of the offeror. Part III: Court Procedures - Allows a person seeking to recover for harm caused by a product to bring a civil action against the manufacturer or seller under applicable State or Federal law, except to the extent such law is superseded by this Act. Establishes a standard of product seller liability for proximate causes of harm, established by a preponderance of the evidence, which fall under the categories of negligence or express warranty. Allows the trier of fact, in a negligence action, to consider the conduct of the seller with respect to: (1) the construction, inspection, or condition of the product; and (2) failure to pass on warnings or instructions from the manufacturer. Deems the seller not liable for failure to provide warnings or instructions unless the claimant establishes that the seller failed to: (1) provide warnings or instructions received while the product was in the seller's possession and control; or (2) make reasonable efforts to provide users with warnings and instructions which it received after the product left its possession and control. Deems a seller not liable except for breach of warranty where there was no opportunity to inspect the product in a manner which would or should, in the exercise of reasonable care, have revealed the aspect which allegedly caused the harm. Declares that the seller shall be treated as the manufacturer and be liable for harm caused by a product as if it were the manufacturer if: (1) the manufacturer is not subject to service of process in any State in which the action might have been brought; or (2) the court determines that the claimant would be unable to enforce a judgment against the manufacturer. Allows punitive damages, if otherwise permitted by applicable law, to be awarded in any civil action under this title to any claimant who establishes by clear and convincing evidence that the harm suffered was the result of conduct manifesting a manufacturer's or product seller's conscious, flagrant indifference to the safety of those persons who might be harmed by a product. Declares that a failure to exercise reasonable care in choosing among alternative product designs, formulations, instructions, or warnings is not of itself such conduct. Prohibits awarding punitive damages in the absence of a compensatory award, subject to exception. Prohibits punitive damages against a manufacturer or seller of a drug or medical device where: (1) the drug or device was subject to pre-market approval by the Food and Drug Administration (FDA); or (2) the drug is generally recognized as safe and effective under conditions established by the FDA. Prohibits punitive damages against a manufacturer of an aircraft where: (1) the aircraft was subject to pre-market certification by the Federal Aviation Administration (FAA); and (2) the manufacturer complied, after delivery, with FAA requirements and obligations with respect to continuing airworthiness. Provides for separate proceedings, if requested by the manufacturer or seller, with regard to punitive damages. Lists factors the trier of fact is allowed to consider in determining the amount of punitive damages. Bars any civil action under this title: (1) unless filed within two years after the claimant discovered or should have discovered the harm and its cause, subject to exception; and (2) if the product involved is a capital good that is alleged to have caused harm which is not a toxic harm unless filed within twenty-five years after delivery of the product, provided the claimant has received or would be eligible for State or Federal workers' compensation. Excludes a motor vehicle, vessel, aircraft, or railroad used primarily to transport passengers for hire from these time limitations. States that nothing in these provisions affects the right of any person who is subject to liability under this Act to obtain contribution or indemnity from any other person who is responsible for the harm. Requires reduction in the damages awarded by the sum of all State or Federal workers' compensation benefits to which the employee is or would be entitled. Requires a claimant in a civil action under this title who is or may be eligible to receive State or Federal workers' compensation to notify the claimant's employer of the civil action. Requires an action to be stayed, at the sole discretion of the claimant, until a final determination is made on the amount payable as workers' compensation benefits. Declares that, unless the manufacturer or seller has expressly agreed to indemnify or hold an employer harmless, neither the employer nor the workers' compensation insurance carrier shall have a right of subrogation, contribution, or implied indemnity against the manufacturer or seller or a lien against the claimant's recovery, except if the claimant's harm was not in any way caused by the fault of the claimant's employer or co-employees. Allows the employer or workers' compensation insurer to intervene in the action to prove that fact. Prohibits a third party tortfeasor, where workers' compensation is involved, from maintaining any action for implied indemnity or contribution against the employer, any coemployee, or the exclusive representative of the injured person. Prohibits, for a person who is or would have been entitled to receive workers' compensation, any other action, unless a State or Federal workers' compensation law permits recovery based on a claim of an intentional tort. Makes these provisions inapplicable and declares that applicable State law shall control if the employer or the workers' compensation insurer asserts a right of subrogation, contribution, or implied indemnity against the manufacturer or seller or a lien against the claimant's recovery. Declares that, in any product liability action, the liability of each defendant for noneconomic damages shall be several and not joint. Requires the trier of fact to determine the proportion of responsibility of each party for the claimant's harm. Establishes a complete defense, in any civil action under this Act in which all defendants are manufacturers or sellers, that the claimant was under the influence of alcohol or any drug and that, as a result, the claimant was more than 50 percent responsible for the event which resulted in the harm. Defines "drug" to mean any non-over-the-counter drug which has not been prescribed by a physician. Title V: Long-Term Investment - Long-Term Investment Promotion Act of 1992 - Amends the Securities Exchange Act of 1934 to eliminate the requirement that publicly-held corporations report their financial status on a quarterly basis. Title VI: Competitiveness Risk Assessment - Declares that no agency shall propose or promulgate a regulation without first analyzing its direct and indirect effects on the health and safety of consumers and workers, including effects due to wage and job losses, price increases, product restrictions, technological delays, and substitution effects. Title VII: Department of Manufacturing And Commerce - Department of Manufacturing and Commerce Act of 1992 - Renames the Department of Commerce as the Department of Manufacturing and Commerce. Requires the President to establish a Manufacturing Advisory Commission to examine Federal agencies, programs, and offices responsible for manufacturing-related research and development, technology transfer, education, and trade in order to prepare a report for the Congress on the feasibility of consolidating such agencies, programs, and offices into a single Office of Manufacturing within the Department of Manufacturing and Commerce. Title VIII: Amendments to the Stevenson-Wydler Technology Innovation Act of 1980 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to change from discretionary to mandatory a Federal agency's authority to permit the director of any of its laboratories to enter into cooperative research and development agreements on its behalf. Authorizes each Federal agency to copyright on behalf of the United States any computer software prepared in whole or in part by Government employees involved in cooperative research and development agreements. Includes software royalties in the current distribution format (agency, laboratory, author, and Treasury) under such Act.
United States · United States Congress · 21 May 1992
Nullifies any prohibitions against the transfer of government information about aliens to the Immigration and Naturalization Service.
United States · United States Congress · 21 May 1992
Justice in India Act - Terminates all development assistance for India under the Foreign Assistance Act of 1961 (except assistance for specified health projects) if the President reports to the Congress that India has not repealed certain special and preventive detention laws. Provides for the resumption of such assistance if India repeals such laws.
United States · United States Congress · 21 May 1992
Medical Cost Containment Act of 1992 - Amends the Internal Revenue Code to exclude from gross income medical care savings benefits. Describes such benefits as a health plan which provides that all or part of the premium differential realized by instituting a qualified higher deductible health plan is credited to participating employees to pay for medical care for a plan year. Requires amounts remaining at the end of such plan year to be deposited into a tax-exempt medical care savings account (subject to rules similar to those for retirement plans) for use by the participant for medical expenses.
United States · United States Congress · 21 May 1992
Designates February 21 through 27, 1993, as American Wine Appreciation Week. Commends the winegrape and fruit growers and vintners of the United States for the production of high quality agricultural products.
United States · United States Congress · 20 May 1992
Women and Children First Act of 1992 - Title I: Direct Federal Charity Payment - Subtitle A: General Provisions - Prescribes eligibility requirements for the households of any State which enters into an agreement with the Secretary of Health and Human Services (the Secretary) for the provision of food and housing benefits. Requires the benefit program to be implemented through a specified State agency, and periodically audited. Subtitle B: Exemption from Federal Income Taxation - Declares the food and housing benefits under this Act exempt from Federal income taxation. Subtitle C: Unified Application for Certain Benefits - Requires the Secretary to develop a single application for: (1) benefits under this Act; (2) medical assistance under title XIX of the Social Security Act; and (3) the Head Start Program. Subtitle D: Termination of Certain Public Assistance Programs - Terminates the following programs: (1) the Food Stamp Act of 1977; (2) Aid to Families with Dependent Children; (3) Supplemental Security Income; (4) the National School Lunch Act; (5) the Child Nutrition Act of 1966; (6) the Low-Income Home Energy Assistance Act of 1981; and (7) the rental assistance payments program under Section 8 of the United States Housing Act of 1937. Subtitle E: Effective Date - Sets forth the effective date of this Act. Title II: Graduated Penalties for Conviction of Sexual Child Abuse or Incest - Amends Federal criminal law to set forth increased penalties and mandatory minimum penalties concerning the sexual exploitation of children and of minors. Requires the Attorney General to report to the Congress on whether the statute of limitations on offenses for sexual exploitation of children should be extended to allow prosecutions in cases of delayed discovery resulting from the fact that the victims are children. Increases the penalties for: (1) transporting females or minors for illegal sexual activity; and (2) for sexual abuse crimes. Title III: Adoption Provisions - Subtitle A: Adoption Tax Credit - Amends the Internal Revenue Code to allow as a credit against tax qualified adoption expenses. Subtitle B: Adoption of Abandoned Babies - Amends the Social Security Act with respect to babies abandoned at birth to require certain State laws to be in effect as a prerequisite to Federal aid for State foster care and adoption assistance. Declares that for purposes of the adoption assistance program such babies shall be considered children with special needs. Title IV: Increase in Dependent Tax Exemption; Refundable Credit for Young Children - Amends the Internal Revenue Code to: (1) increase the personal exemption for dependent children who have not attained age 18 before the close of the taxable year; and (2) establish a credit against tax for each dependent child who has not attained the age of 7 as of the close of the taxable year. Title V: Child Support Provisions - Amends the Social Security Act to condition Federal assistance to State plans for child and spousal support upon State procedures which prohibit the issuance or renewal of any license or registration to any person who owes overdue support. Amends Federal criminal law to establish criminal penalties for anyone who leaves or remains outside the State in which child support payments are due in order to avoid payment of arrearages. Amends the Social Security Act to modify the criteria for Federal medical assistance grants to the States (Medicaid) to require that: (1) group health plans permit enrollment of any child whose non-custodial parent is enrolled in the plan and has been ordered to provide child support; and (2) State agencies be authorized to garnish employment-related income, and withhold any State tax refunds of certain persons ordered to provide support to an individual eligible for medicaid. Title VI: Community Chest Tax Credit - Amends the Internal Revenue Code to allow as a credit against tax payments to certain direct service organizations. Title VII: Protection of Women and Children From Sexual Exploitation and Violence - Subtitle A: Importation of Child Pornography - Amends Federal criminal law to prohibit the importation of depictions of a minor engaged in sexually explicit conduct. Sets forth criminal penalties. Subtitle B: Evidence in Sexual Assault and Child Molestation Cases - Amends the Federal Rules of Evidence to render admissible into evidence the defendant's commission of similar crimes involving either sexual assault or child molestation. Subtitle C: Combatting Violence and Crimes Against Women on the Streets and in Homes - Part 1: Federal Penalties for Sex Crimes - Amends Federal criminal law to: (1) direct the United States Sentencing Commission to promulgate guidelines to provide that repeat offenses of sex crimes are punishable by twice the penalty otherwise provided in the guidelines; and (2) provide mandatory restitution for sexual abuse crimes. Authorizes appropriations for U.S. Attorneys to appoint counselors for victims and witnesses in connection with the prosecution of sex crimes. Sets forth criminal penalties for interstate travel to: (1) commit spousal abuse; or (2) commit spousal abuse in violation of a State-issued protection order. States that "spousal abuse" includes abuse to an intimate partner. Empowers a judge or magistrate to issue temporary protection orders for an abused spouse pending final case adjudication. Directs the court to order restitution to spousal abuse victims. Declares that such protection orders shall be accorded full faith and credit by the courts of sister States, and enforced as if they were orders of the enforcing State. Part 2: Arrest in Spousal Abuse Cases - Directs the Postmaster General to promulgate regulations to secure the confidentiality of abused persons' addresses according to prescribed guidelines. Part 3: Civil Rights - Establishes a Federal cause of action for gender-based crimes of violence. Includes within the definition of "crime of violence motivated by gender" rape, sexual assault, sexual abuse, and abusive sexual contact. Subtitle D: Cause of Action for Victims of Sexual Abuse, Rape, and Murder, Against Producers and Distributors of Hardcore Pornographic Material - Establishes a Federal cause of action against commercial producers, distributors, exhibitors, or sellers of obscene material or child pornography for damages from a sexual offense that was foreseeably caused, in substantial part, by the offender's exposure to such material.
United States · United States Congress · 13 May 1992
Social Security Individual Retirement Act of 1992 - Amends the Internal Revenue Code to reduce old age, survivors, and disability insurance (OASDI) taxes on employees, employers, and the self-employed. Reduces OASDI taxes to zero percent for employees enrolled in a social security payroll deduction plan. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require covered employers to establish a social security payroll deduction plan for eligible employees under which prescribed social security contributions will be deducted from employee wages and paid to a social security individual retirement account. Sets forth rules applicable to such accounts. Requires deducted amounts to be shown on wage statements. Exempts social security payroll deductions from requirements under the Employee Retirement Income Security Act of 1974. Makes this Act effective with respect to wages paid after February 1, 1993. Sets forth notification requirements for the Secretary of Health and Human Services. Establishes a formula for computing the primary insurance amounts of employees who own a social security individual retirement account. Amends the Internal Revenue Code to provide for treating social security individual retirement accounts in a similar manner as any individual retirement plan. Allows a tax exclusion for qualified distributions.
United States · United States Congress · 7 May 1992
Disapproves the Health Care Benefits Expansion Act of 1992, an Act passed by the District of Columbia Council and signed by the Mayor.
United States · United States Congress · 6 May 1992
Designates November 13, 1992, as Vietnam Veterans Memorial 10th Anniversary Day.
United States · United States Congress · 6 May 1992
Urges the United States to: (1) hold the Government of Serbia accountable for the attacks on and occupation of the Republics of Bosnia-Hercegovina and Croatia, and for human rights abuses in Kosovo; (2) withhold diplomatic recognition of Serbia and Montenegro until Serbia ceases its aggression against such republics and halts the brutal repression of the Albanian people in Kosovo and the denial of the right to self-determination; and (3) actively encourage its allies to follow the same course.