United States · United States Congress · 28 June 1984
Requires the Secretary of Health and Human Services to conduct a study on the collection of information by the Department of Health and Human Services in order to determine what information is being collected from the same class of individuals more than once. Requires the Secretary to report to Congress on such study by a specified date. Requires that such report include detailed recommendations for collecting information more efficiently and reducing information collection that is duplicative.
United States · United States Congress · 28 June 1984
Establishes the National Commission on Federal Budget Deficit Reductions to review all relevant elements of fiscal and monetary policy. Requires particular emphasis to be given to the causes of cyclical and structural Federal budget deficits and the impact which growing structural Federal deficits have on employment, capital formation, and the vigor and viability of economic growth in the United States. Requires the Commission to: (1) identify problems which may hinder the control and reduction of Federal budget deficits; and (2) analyze all potential options which would result in deficit reductions and place the Government on a sound financial basis. Requires the Commission to report to the President and Congress by January 15, 1985, detailed findings, conclusions, and recommendations for such legislation and administrative actions as it considers appropriate. Terminates the Commission 30 days after submission of such report.
United States · United States Congress · 28 June 1984
Commends the heroism of the Afghan resistance in its fight to keep Afghanistan free and independent. Condemns the massive Soviet bombing of Afghanistan.
United States · United States Congress · 27 June 1984
Amends the Internal Revenue Code to: (1) increase in four steps the maximum annual dollar amount limitation on deductions for contributions to an individual retirement account of a spouse; (2) repeal the requirement that deductions for such contributions shall be allowed only if such spouse had no compensation for the taxable year; and (3) provide that the limitation on the deduction allowed for such contributions shall be computed on the basis of the combined compensation of a husband and wife.
United States · United States Congress · 26 June 1984
Reaffirms that it is U.S. policy to oppose the practice of torture by foreign governments through the implementation of laws and through public and private diplomacy. Requests the President to: (1) instruct the U.S. representative to the United Nations to continue to raise the issue of torture by such governments; and (2) continue to involve the U.S. Government in the formulation of international standards, particularly the draft Convention Against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment. Requests the Secretary of State to issue specified formal instructions to each U.S. mission chief regarding U.S. policy with respect to such torture. States that the Secretary of Commerce should continue to enforce the current restrictions on the export of crime control equipment pursuant to the Export Administration Act of 1979. Directs the heads of U.S. departments that furnish military and law enforcement training to foreign personnel to include in such training instruction regarding international human rights standards with respect to torture.
United States · United States Congress · 22 June 1984
Amends the Internal Revenue Code to increase to $40,000 (currently $20,000 per calendar quarter) the threshold amount of wages which must be paid in a calendar quarter before agricultural employers are required to pay unemployment tax with respect to every person employed. Exempts all full time students from agricultural unemployment taxes.
United States · United States Congress · 21 June 1984
Agricultural Trade and Export Policy Commission Act - Amends the Agriculture and Food Act of 1981 to establish a National Commission on Agriculture Trade and Export Policy (Commission) to conduct a study of the agriculture-related trade and export policies and programs of the United States and the international and domestic factors affecting such policies and programs, including U.S. intergovernmental activities that affect the formulation of policies. Requires the Commission to be composed of ex officio congressional members, plus 23 members appointed by the President. Requires the Commission to submit to the President and the Congress: (1) a report containing its initial findings and recommendations by March 31, 1985; (2) additional interim reports on its work as may be requested by the chairmen of specified congressional committees; and (3) a report containing the final results of its study and recommendations by July 1, 1986. Authorizes Federal and public support to the Commission. Exempts the Commission from specified provisions of the Federal Advisory Committee Act and guidelines relating to the performance appraisals of Federal employees. Terminates the Commission 60 days after the transmission of its final report to the President and the Congress.
United States · United States Congress · 20 June 1984
Designates August 1, 1984, as Helsinki Human Rights Day. Authorizes and requests the President to issue a proclamation reasserting the American commitment to full implementation of the human rights and humanitarian provisions of the Helsinki Accords. Requests the President to raise the issue of noncompliance with such provisions with the Soviet Union and Eastern European countries at every available opportunity.
United States · United States Congress · 19 June 1984
Establishes a commission to be known as the Martin Luther King, Jr. Federal Holiday Commission to: (1) encourage appropriate ceremonies and activities throughout the United States relating to the first observance of the Federal legal holiday honoring Martin Luther King, Jr.; and (2) provide advice and assistance to the Federal Government and to State and local governments and private organizations with respect to the observance of the holiday. Sets forth requirements regarding the membership and staff of the Commission. Authorizes the heads of all Government departments and agencies, upon the request of the Commission, to detail any of their personnel to the Commission and to otherwise assist the Commission in carrying out its responsibilities under this Act. Requires that all of the Commission's expenditures be made from donated funds. Directs the Commission, not later than April 20, 1986, to report to the President and the Congress concerning its activities under this Act. Terminates the Commission after the submission of such report.
United States · United States Congress · 19 June 1984
Expresses the sense of the Congress that the President should: (1) ensure that U.S. officials carry out his pledge to resolve the issue of the Americans still missing and unaccounted for in Indochina; (2) work for the immediate release of any Americans still held captive and the return of the remains of those who died in Southeast Asia; and (3) make every effort to secure the cooperation pledged by Laos and Vietnam in resolving this issue.
United States · United States Congress · 18 June 1984
Designates the week beginning February 17, 1985, as a time to recognize the contributions of volunteers who give their time to become Big Brothers and Big Sisters to youths in need of adult companionship.
United States · United States Congress · 14 June 1984
Criminal Fine Enforcement Act of 1984 - Amends the Federal criminal code in regard to the collection and payment of fines and penalties. Provides that a judgment may direct imprisonment until a fine or penalty is paid if the court finds that the defendant has the present ability to pay such fine or penalty. States that a judgment imposing the payment of a fine or penalty is a lien in favor of the United States and it applies to all property of the defendant other than property exempt from levy under the Internal Revenue Code. States that payment of a fine is due immediately unless the court requires payment by installment or by any date certain. Allows the Attorney General to make payment due immediately upon the default of any installment payment. Requires the defendant to pay interest at a rate of 1.5 percent per month on any amount of a fine or penalty that is past due (plus an extra 25 percent if the delinquency extends beyond 90 days). Allows the Attorney General and the Director of the Administrative Office of the U.S. Courts to provide by regulation that fines for specified categories of offenses be paid to the clerk of the court. Provides that if the fine is imposed on an organization, payments are authorized from the assets of the organization; but if the fine is imposed on a director, officer, employee, or agent of the organization, payment shall not be authorized from organization assets unless expressly permitted by State law. Requires a defendant to pay a fine made a condition of probation even after the probation's end. Provides penalties for criminal default on a fine. Lists factors that the court must consider in determining whether to impose a fine, including: (1) the ability of the defendant to pay; (2) the burden that payment will impose on the defendant; and (3) any restitution or reparation made by the defendant. States that if a defendant has the obligation to make restitution to a victim of the offense, the court shall impose a fine only to the extent that such fine will not impair the ability of the defendant to make restitution. Increases the maximum fine levels for certain felonies, misdemeanors, and offenses which result in pecuniary gain. Provides a procedure for establishing security if a fine is stayed. Conditions parole upon a diligent effort to pay a fine. Increases the fine for the commission of a misdemeanor to $5,000 for an individual and $10,000 for an organization.
United States · United States Congress · 14 June 1984
Law Enforcement Officers Protection Act of 1984 - Amends the Federal criminal code to define "armor piercing ammunition." Excludes from the definition: (1) shot gun shot required by Federal or State regulations for hunting; (2) frangible projectiles for target shooting; and (3) projectiles that the Secretary of Treasury determines are primarily intended for sporting purposes. Makes it unlawful for any person to manufacture or import armor piercing ammunition. Allows for: (1) the manufacture or importation of armor piercing ammunition for the use of the United States or any State or local government; and (2) manufacture for the sole purpose of exportation. Establishes a licensing fee of $1,000 per year for manufacturers and importers of armor piercing ammunition. Imposes an additional mandatory sentence of not less than five years for any person who uses or carries a firearm and is in possession of armor piercing ammunition during the commission of a violent felony. Provides that such sentence shall not be suspended nor probation nor parole granted.
United States · United States Congress · 6 June 1984
Sunshine Resolution of 1984 - Amends Rule XXVIII of the Rules of the House of Representatives to provide that, after the approval of any matter, House conferees shall be entitled to three days in which to file supplemental, minority, or additional views. Establishes Rule LI which requires the Speaker of the House to provide for printing of the floor schedule in the Congressional Record at least two legislative days in advance. Amends Rule XXVII to require the printing in the Record of the names of Members who have signed, or withdrawn a signature to, a motion to discharge a committee from consideration of a bill or resolution, whenever 100 Members have signed such a motion. Amends Rule I to require the broadcasting system to include frequent, wide-angle visual coverage of the chamber when the House is in session. Amends Rule X to provide for the compilation of an oversight agenda resolution. Requires the House to complete action on such resolution within 100 days after the Congress convenes. Amends Rule XI to prohibit proxy voting in committees. Establishes Rule LII which requires the body of the Congressional Record for the House to contain an accurate and verbatim account of remarks actually delivered on the floor. Limits extension and revision of remarks delivered on the floor to the correction of grammatical and typographical errors. Authorizes Members, by unanimous consent, to make insertions of remarks not actually delivered on the floor and requires such insertions to be clearly distinguished from verbatim remarks. Amends Rule X to require committee ratios to reflect the majority to minority party ratio in the House.
United States · United States Congress · 6 June 1984
Designates as Andrei Sakharov Avenue the portion of 16th Street, Northwest, in the District of Columbia, between L and M Streets, and the portion of any street in any other city in the United States on which is located a consular office or mission of the Union of Soviet Socialist Republics.
United States · United States Congress · 31 May 1984
Expresses the sense of Congress that television and radio networks and stations broadcasting coverage of the XXIII Olympiad should include public service announcements or other informational programming warning young people of the dangers of alcohol and drug abuse.
United States · United States Congress · 10 May 1984
Expresses the sense of the Congress that the President should support the efforts of the Catholic Bishops of Nicaragua to bring about a national reconciliation between the struggling factions in that country in order to establish democratic harmony.
United States · United States Congress · 8 May 1984
Amends the Internal Revenue Code to provide an additional ten percent investment tax credit (for a total of 20 percent) for expenditures for soil and water conservation property. Defines 'soil and water conservation property' to mean irrigation property and that portion of the basis of qualified land which is attributable to conservation improvements made by the taxpayer. Requires that the qualified land be classified as highly erodible land. Provides that soil and water conservation property does not include that portion of the basis of property which is financed by any grant from the Government. Specifies that the useful life of soil and water conservation property will be seven years. Provides that soil or water conservation property shall cease to qualify for the investment tax credit provided by this Act if the taxpayer discontinues the business of farming within five years after the date on which the property was placed in service. Provides that the amount of the tax deduction allowed under the accelerated cost recovery system for irrigation property qualified under this Act shall be determined according to a straight line method of depreciation.
United States · United States Congress · 8 May 1984
Expresses the sense of the Congress that each State should establish a clearinghouse, to work in conjunction with the National Center for Missing and Exploited Children, to provide information on missing children within the State. Declares that each clearinghouse should: (1) provide a centralized file for statewide exchange of information; (2) cooperate with State law enforcement agencies; (3) work as a liaison between public and private organizations; (4) provide a toll-free in- State telephone line to allow persons to report missing children; (5) provide a directory of State resources; (6) publish monthly bulletins; (7) distribute emergency flyers; and (8) train individuals in the operation of the clearinghouse.
United States · United States Congress · 3 May 1984
Crime Control Act of 1984 - Title I: Bail - Bail Reform Act of 1984 - Repeals the Bail Reform Act of 1966 and sets forth new bail procedures. Retains execution of a money bond as a condition for pretrial release. Authorizes a judicial officer to consider the safety of any person or the community when making a pretrial release determination. Establishes as a mandatory release condition that the person not commit a Federal, State, or local crime during release. Expands the discretionary release conditions to include that the defendant: (1) maintain employment or an educational program; (2) avoid contact with an alleged victim or potential witness; (3) report to a law enforcement or pretrial service agency; (4) comply with a curfew; (5) refrain from possessing a firearm or using alcohol or narcotic drugs; (6) undergo medical treatment; (7) agree to forfeit designated property, including money, upon failure to appear; and (8) return to custody at specified hours. Prohibits a judicial officer from imposing financial conditions that result in the pretrial detention of a person. Authorizes a judicial officer to order detention for up to ten days: (1) if a person who is presently on pretrial release for a felony under Federal, State, or local law or on probation or parole or release pending sentencing or appeal for any offense, upon a determination that such person may flee or pose a danger to any person or the community; or (2) if such person is not a U.S. citizen. Requires that a detention hearing be held upon motion of the attorney for the Government or upon the judge's own motion in any case involving: (1) a crime of violence; (2) any offense punishable by life imprisonment or death; (3) a narcotics offense punishable by at least ten years' imprisonment; (4) a serious risk of flight or obstruction of justice; or (5) any felony committed after the person has been convicted of two or more offenses for which a hearing is mandated. Authorizes a judicial officer after such a hearing to order the pretrial detention of a person upon finding that no condition will reasonably assure such person's appearance and the safety of any other person and the community. Enumerates additional factors to be considered by the judicial officer in making a release determination, including the defendant's past conduct, history of drug or alcohol abuse, criminal history, and the nature and seriousness of the danger to the community or any person. Requires the detention of a person who has appealed his conviction unless the judicial officer finds by clear and convincing evidence that: (1) such person is not likely to flee or pose a danger to another person or property; and (2) the appeal raises a substantial question of law or fact. Requires the detention of a person awaiting sentencing unless the officer finds by clear and convincing evidence that the person is not likely to flee or pose a danger to any other person or the community. Authorizes a U.S. attorney to appeal a release order. Allows a defendant to file a motion for amendment of a condition of release. Makes a person guilty of an offense for failing to appear after having been released. Provides increased penalties for persons charged with more serious offenses. Makes it an affirmative defense to such crime that uncontrollable circumstances prevented the person from appearing. Establishes mandatory additional penalties for commission of an offense while on pretrial release. Subjects a person who has been conditionally released and violates a condition of release to revocation of release and prosecution for contempt of court. Authorizes a surety to arrest a person charged with an offense who is released upon execution of an appearance bond with such surety. Requires such person to be delivered promptly to a judicial officer for a revocation determination. Grants new authority to law enforcement officers to arrest a person who violates pretrial release conditions. Title II: Limitation of the Exclusionary Rule - Exclusionary Rule Limitation Act of 1984 - Amends the Federal criminal code to provide that evidence obtained by a search or seizure shall not be excluded in a Federal proceeding if the seizure was undertaken in a reasonable good faith belief in its conformity with the fourth amendment to the Constitution. Provides that evidence obtained in accordance with a warrant is prima facie evidence of good faith, absent intentional and material misrepresentation. Title III: Reform of Federal Intervention in State Proceedings - Reform of Federal Intervention in State Proceedings Act of 1984 - Conditions consideration of a habeas corpus claim by a State prisoner on a showing of actual prejudice resulting from the Federal right violated and a showing that: (1) State action precluded assertion of the right; (2) the Federal right did not previously exist; or (3) the factual basis of the claim could not have been discovered by reasonable diligence. Establishes a one-year statute of limitations for habeas corpus actions brought by State prisoners. Vests authority to issue certificates for probable cause for appeal or habeas corpus orders exclusively in the courts of appeals. Permits denial on the merits of habeas corpus writs notwithstanding the failure to exhaust State remedies. Prohibits the granting of a habeas corpus writ with respect to any claim which has been fully and fairly adjudicated in State proceedings. Title IV: Reinstitution of Capital Punishment - Establishes procedures for imposition of the death penalty in certain homicide, treason and espionage cases.
United States · United States Congress · 2 May 1984
Sex Discrimination in the United States Code Reform Act of 1983 - Title I: Armed Forces, Soldiers' Home, Coast Guard, Lighthouse Service, and Merchant Marine - Amends Federal laws dealing with the Army, the Navy, the Air Force, and the Coast Guard to eliminate gender-based distinctions. Title II: Elimination of Gender-Based Distinctions Under the Social Security Act and the Railroad Retirement Act - Eliminates gender-based distinctions in the social security and railroad retirement programs. Title III: Amendments to United States Code - Amends the Immigration and Nationality Act, the Walsh-Healey Act, the Child Nutrition Act of 1966, the Federal criminal code and other Acts (dealing with Indian affairs, transportation, public lands, Saint Elizabeth's Hospital, contract law, the U.S. Coast Guard, the National Oceanic and Atmospheric Administration, longshoremen and harbor workers, conservation programs, internee benefits, and the spouses of former presidents, among other subjects) to eliminate gender-based distinctions. Title IV: Effective Date - Sets forth the effective date for the provisions of this Act.
United States · United States Congress · 2 May 1984
States that the United States joins in recognizing the anniversaries of the Warsaw uprising and the Polish resistance to the World War II invasion of Poland.
United States · United States Congress · 2 May 1984
Expresses the sense of the House of Representatives that Congress should, as soon as practicable, take such actions as may be necessary to transfer to the Secretary of Defense the responsibility for compensating local school districts for the education of children of military dependents.
United States · United States Congress · 2 May 1984
Expresses the sense of the House of Representatives that the President should continue to oppose: (1) the imposition of restrictions on European Community (EC) imports of nongrain feed ingredients and corn gluten and should support the current duty-free binding on such products; and (2) EC proposals which violate the duty-free binding on soybeans and soybean products under the General Agreement on Tariffs and Trade and reaffirm the United States position that the imposition of a consumption tax by EC on vegetable fats and oils would represent a restraint of trade. States that if EC action is taken to inhibit the importation of such products, then the United States should restrict EC imports by the same proportion of reduced U.S. export products.
United States · United States Congress · 26 April 1984
Fair and Simple Tax Act of 1984 - Title I: Reduction of Individual and Corporate Tax Rates - Subtitle A: Reduction of Rates - Amends the Internal Revenue Code to revise individual tax rates. Imposes a tax rate of 25 percent on the taxable income of every individual. Imposes a tax rate of 15 percent on corporate income which does not exceed $50,000 and a tax rate of 30 percent on corporate income exceeding $50,000. Subtitle B: Increase in Amount of Personal Exemption and Zero Bracket Amount - Increases the amount of the personal exemption to $2,000. Increases the "zero bracket amount" to $2,700 for single taxpayers and $3,500 for a joint return or surviving spouse. Provides for an annual adjustment in the "zero bracket amount" by a cost-of-living adjustment based on the Consumer Price Index. Subtitle C: Employment Income Exclusion Established - Allows an individual taxpayer to exclude 20 percent of the amount received during the taxable year by such individual as employment income. Provides that the exclusion is phased out when the individual's wages and salaries exceed the Federal Insurance Contributions Act maximum wage base for the calendar year. Excludes all of an individual's employment income where the employment income for the taxable year is $10,000 or less ($20,000 or less in the case of a joint return). Subtitle D: Repeals Related to Reduction in Rates - Repeals provisions relating to: (1) tax tables for individuals; (2) personal service corporations; (3) special averaging rules for lump-sum distributions; (4) accumulated corporate surplus; (5) personal holding companies; (6) income averaging; and (7) graduated corporate tax rates. Applies the trust throwback rules only to amounts distributed from a foreign trust. Title II: Base Broadening - Subtitle A: Credits - Repeals the general tax credit, the investment tax credit, and the income tax credits relating to: (1) the elderly and the permanently and totally disabled; (2) investments in certain depreciable property; (3) work incentive expenses; (4) contributions to candidates for public office; (5) home purchases; (6) expenses for household and dependent care services necessary for gainful employment; (7) employment of certain new employees; (8) residential energy credit; (9) producing fuel from a nonconventional source; (10) alcohol used as fuel; (11) research activities; (12) employee stock ownership credit; and (13) clinical testing for certain drugs. Subtitle B: Exclusions - Repeals the tax exclusion for: (1) compensation for injuries or sickness; (2) amounts received under accident and health plans; (3) partial exclusion of dividends received by individuals; (4) amounts received under qualified group legal service plans; (5) qualified transportation furnished by an employer; (6) dividend reinvestment in public utilities; (7) partial exclusion of interest as in effect in 1985; and (8) payments to encourage exploration, development, and mining for defense purposes. Reduces the maximum amount of the earned income credit from $5,000 to $4,000. Treats as taxable income: (1) unemployment compensation; (2) the annual increase in the cash surrender value of life insurance policies; and (3) interest on industrial development bonds and mortgage subsidy bonds. Provides that the transfer of a corporation's stock in satisfaction of indebtedness will be treated as having satisfied the indebtedness with money equal to the fair market value of the stock. Provides a limited exclusion from income for scholarships and fellowships. Amends the Merchant Marine Act to repeal the tax exemption for deposits into, and withdrawals from, a capital construction fund. Subtitle C: Deductions - Repeals the tax deductions for: (1) the additional exemption for the elderly and the blind; (2) unused investment credits; (3) two-earner married couples; and (4) adoption expenses. Provides that the deduction for losses shall be limited to capital losses. Increases the floor on the deduction for medical and dental expenses from five to 10 percent. Subtitle D: Adjustment to Basis; Changes in Certain Special Capital Gains Treatment Provisions - Allows an inflation adjustment, based on the gross national product deflator, to the adjusted basis of capital assets which have been held for more than one year at the time of sale or exchange solely for the purpose of determining gain or loss on such assets. Excludes from such treatment: (1) creditor's interest; (2) options; (3) net lease property in the case of the lessor; (4) preferred stock with fixed dividends; and (5) stock in small business corporations and certain foreign corporations. Allows the Secretary of the Treasury to disallow all or part of an adjustment where there was a transfer to increase the inflation adjustment or depreciation allowance. Reduces the alternative tax rate for corporations from 28 to 20 percent. Repeals the deduction for individuals for capital gains. Repeals the limitation on the deduction of capital losses by individuals. Permits the carryover of the excess of capital losses over gross income by individuals. Applies the rules for capital gains and losses only to corporations relating to: (1) the sale of land with an unharvested crop; (2) the disposal of coal or domestic iron ore; (3) the gain or loss in the case of timber, coal, or domestic iron ore; (4) the distribution of property; (5) collapsible partnerships; (6) property used in the trade or business and involuntary conversions; (7) the sale or exchange of patents; (8) amortization in excess of depreciation; (9) gain from the sale of depreciable property between certain related taxpayers; (10) gain from dispositions of certain depreciable property; (11) gain on foreign investment company stock; (12) an election by foreign investment companies to distribute income currently; (13) gain from certain sales or exchanges of stock in certain foreign corporations; (14) gain from certain sales or exchanges of patents, etc., to foreign corporations; (15) gain from disposition of certain depreciable realty; (16) gain from disposition of property used in farming where farm losses offset nonfarm income; (17) gain from disposition of farm land; (18) gain from disposition of interest in oil, gas, or geothermal property; and (19) gain from disposition of property acquired with certain cost-sharing payments. Provides a transition period of ten years beginning January 1, 1985, in which a taxpayer may elect to not apply the inflation adjustment to the basis of capital assets for purposes of determining capital gain or loss. Provides that when such election is made, 25 percent of any gain from the sale or disposition of such asset shall be excludible from gross income, or 25 percent of any loss shall not be deductible. Title III: Capital Cost Recovery - Subtitle A: Simplified Cost Recovery System for Depletable Property - Allows individuals and corporations a depletion deduction for qualified depletable property equal to an applicable percentage determined by the cost recovery tables for cost recovery property. Requires qualified depletable property be assigned to one class of recovery property. Uses the anticipated productive life of such depletable property, rather than the present class life, for making the assignment. Assigns oil, gas wells, or wells drilled for any geothermal deposit to the class of three year property. Provides that these rules shall not deny any deduction allowable for loss sustained by reason of the abandonment of a nonproductive well or mine. Subtitle B: Other Changes - Repeals the income tax deductions for: (1) research and experimental expenditures; (2) soil and water conservation expenditures; (3) depreciation or amortization of improvements made by a lessee on a lessor's property; (4) expenditures by farmers for clearing land; (5) amortization of reforestation expenditures; (6) start-up expenditures; (7) intangible drilling and development costs in the case of oil and gas wells and geothermal wells; (8) percentage depletion; (9) development expenditures; and (10) deduction and recapture of certain mining exploration expenditures. Allows a ten year period for the amortization of construction period interest and taxes. Allows a deduction for circulation expenses for a newspaper, magazine, or other periodical ratably over a five-year period. Excludes amounts chargable to a capital account from such treatment. Title IV: Miscellaneous Provisions - Subtitle A: Foreign Income - Repeals the domestic international sales corporations (DISC) provisions for taxable years beginning after December 31, 1984. Subtitle B: Other Miscellaneous Provisions - Requires farmers to compute their taxable income using the accrual method of accounting with the capitalization of preproduction expenses. Exempts taxpayers who do not have gross receipts of $1,000,000. Requires farming syndicates to use the accrual method of accounting without regard to gross receipts. Requires the recognition of the gain or loss on distributions of property by corporations. Eliminates the special bad debt reserves of financial institutions. Title V: Effective Dates - Sets forth the effective dates of the provisions of this Act.
![Official portrait of Rep. Daub, Hal [R-NE-2]](https://www.congress.gov/img/member/d000065_200.jpg)