United States · United States Congress · 22 May 1975
Credit Union Financial Institutions Act Amendments - Title I: New Powers and Modernization - Empowers a Federal credit union to make loans and extend credit to members, other credit unions, or financial organizations. Permits credit unions to make loans to members in accordance with the following: (1) loans shall be made in conformity with criteria established by the board of directors and with standards enumerated in this Act; (2) lines of credit shall be established to a stated maximum amount on certain terms and conditions which may be different than those of another borrower; (3) loans to other credit unions shall be approved by the board of directors and not exceed 1 percent of the unimpaired capital and surplus; and (4) participation loans shall be in accordance with written policies of the board of directors. Empowers the credit union to invest funds: (1) in securities or obligations guaranteed by the United States or any agency or instrumentality thereof; (2) in obligations of any State, or the several territories and possessions or any political subdivision thereof; and (3) in the shares or obligations of any other organization which advances the development of credit unions. Empowers credit unions to place their funds: (1) in share accounts or deposits of savings which are insured by an agency of the Federal Government, or by any federally or State insured credit union; and (2) in demand or time deposits of banks whose accounts are insured by the Federal Deposit Insurance Corporation. Empowers such credit union to sell all or part of its assets to another credit union, or to purchase assets from another such credit union, and to permit members to transfer money to and from the member's account pursuant to regulations of the Board. Declares that Federal credit union membership shall consist of the incorporators, and such other persons and organizations as may be elected. Stipulates that a Federal credit union shall be managed by a board of directors, a supervisory committee, and a credit committee. Requires the board of directors to annually elect from their number an executive officer, one or more vice presidents, a treasurer, and a secretary. States that the board of directors shall meet at least once a month and shall have general control of the direction of the Federal credit union. Enumerates the general functions and duties of the board of directors. Permits the board of directors to elect a credit committee. Makes it the duty of the committee to hold such meetings as are necessary to consider applications for loans or lines of credit. Requires each Federal credit union to maintain reserves against its demand deposits in the Central Liquidity Facility and in currency and coin in such other form as the Board of Governors of the Federal Reserve System may provide. Authorizes the board to declare a dividend after provision for required reserves has been made. Authorizes issuance of shares in joint tenancy with persons designated by the credit union member. Authorizes shares to be issued in the name of a minor or in trust. Repeals provisions of the Federal Credit Union Act pertaining to: (1) District of Columbia credit unions; (2) approval of certificates; and (3) conditions upon conversion to Federal status. Title II: Restructuring the National Credit Union Administration - Establishes in the executive branch of the Government an independent agency to be known as the National Credit Union Administration. Places the Administration under the management of a National Credit Union Administration Board and provides for a National Credit Union Administration Advisory Board. States that the Board shall have three members having credit union experience appointed by the President with the advice and consent of the Senate. Directs the Chairperson of the Board to be the spokesperson of the Board and to represent the Board and the National Credit Union Administration in its relations with other branches of the Government. Requires that an Advisory Board be elected to advise and make recommendations on policy matters to the Board. Permits any aggrieved party to seek to enjoin or obtain other appropriate remedy when a charter revocation or suspension or an involuntary liquidation is ordered by the Board. Limits the powers of the Administration to the exercise of all powers specifically granted by the provisions of the Federal Credit Union Act and such incidental powers as shall be necessary to carry out the power so granted. Title III: Share Insurance - Includes credit unions organized and operated according to the laws of the trust territories in the Federal credit unions whose member accounts are insured by the Administrator. Title IV: Central Liquidity Facility - Establishes the National Credit Union Central Liquidity Facility to: (1) provide funds to meet the liquidity needs of credit unions; (2) provide for an orderly transfer of funds; and (3) assist credit unions to improve their general welfare and the financial and general welfare of their members and member's family. Vests management of the Facility in the National Credit Union Administration Board. Authorizes the Secretary of the Treasury to advance $500,000 to be utilized by the Facility for initial organization and operating expenses. Declares the initial capitalization of the Facility shall be by stock subscription consisting of shares having a par value of $50 each. Enumerates the general powers of the Board in administering the Central Liquidity Facility. Entitles any member of the Facility to apply in a form prescribed by regulations for advances. Authorizes the Board to deny or grant any application upon such terms as it may prescribe by regulations. Authorizes the Secretary of the Treasury to purchase any obligation issued by the Board in the event of insufficient funds in the Facility to meet the obligations arising under this Act. Directs the Board to prepare and submit to the President and to the Congress annually a full report on the activities of the Facility for the previous year. Exempts the Facility from all taxation imposed by the United States or by any State.
United States · United States Congress · 6 May 1975
Constitutional Amendment - Provides that the people of the District constituting the seat of government of the United States shall elect two Senators and the number of Representatives in Congress to which the District would be entitled if it were a State. States that each Senator or Representative so elected shall be an inhabitant of the District and shall possess the same qualifications as to age and citizenship and have the same rights, privileges, and obligations as a Senator or Representative from a State.
United States · United States Congress · 28 April 1975
Authorizes to be appropriated, under the Housing and Community Development Act of 1974, $500,000,000 for community development grants to units of general local government, except urban counties.
United States · United States Congress · 28 April 1975
Appropriates $500,000,000 for community development grants under the Housing and Community Development Act to units of general local government, except urban counties.
United States · United States Congress · 16 April 1975
Declares that no provision of any law of the United States authorizes the Federal Home Loan Bank Board to permit lending institutions to offer loans secured by improved real estate with variable interest rates. Provides that the Board may not do so until Congress by law authorizes such variable interest rates.
United States · United States Congress · 15 April 1975
Provides that daylight saving time under the Uniform Time Act shall begin on the last Sunday in May and end on the first Sunday after Labor Day during each calendar year.
United States · United States Congress · 10 April 1975
Limousine Limitation Act - Prohibits government agencies from purchasing, hiring, leasing, operating or maintaining limousines in Federal Government motor pools, or employing the services of chauffeurs. States that government agencies may not maintain motor vehicles for transporting elected or appointed government officers and employees between their home and place of employment, with specified necessary exceptions. Exempts the President, the Vice President, the head of each executive department, the Chief Justice of the United States, the President pro tempore of the Senate, the Speaker of the House of Representatives, the majority and minority leaders of the Senate and of the House of Representatives, the majority and minority whips of the Senate and the House of Representatives, and the United States Representative to the United Nations from the provisions of this Act.
United States · United States Congress · 26 March 1975
Provides that any grant funds under the Federal Water Pollution Control Act which were withheld from allotment by Presidential direction for fiscal years 1973, 1974, and 1975 shall be alloted among the States by the Administrator of the Environmental Protection Agency in accordance with a specified formula. Revises the distribution of such allotments to the States for fiscal years beginning with 1976.
United States · United States Congress · 25 March 1975
Authorizes the Administrator of the National Aeronautics and Space Administration to conduct research and development programs to increase knowledge of tornadoes, hurricanes, large thunderstorms, and other types of short-term weather phenomena, and to develop methods for predicting, detecting, and monitoring such atmospheric behavior. Authorizes the appropriation of $10,000,000 to carry out the provisions of this Act.
United States · United States Congress · 18 March 1975
Creates a select committee in the House of Representatives with authority to conduct a full and complete investigation of the problem of United States servicemen missing in action or known to be dead whose bodies have not been recovered, as a result of military operations in North Vietnam, South Vietnam, Laos and Cambodia. Provides that such investigation shall include an examination of the need for additional international inspection teams to determine whether there are servicemen still held as prisoner of war. Authorizes the Committee to hold hearings, issue subpenas, and maintain a staff as necessary to carry out its responsibilities under this resolution. Directs the committee to report to the House the results of its investigation no later than one year after adoption of this resolution. Provides that the committee's authority shall expire 30 days after the filing of such report. Directs that the expenses of the select committee shall be paid from the contingent fund of the House of Representatives upon vouchers signed by the Chairman.
United States · United States Congress · 13 March 1975
Constitutional Amendment - Provides that, on or before the fifteenth day after the beginning of each regular session of the Congress, the President shall transmit to the Congress a budget which shall set forth separately: (1) his estimate of the receipts of the Government, other than trust funds, during the ensuing fiscal year under the laws then existing; (2) his recommendations with respect to outlays to be made from funds other than trust funds during such ensuing fiscal year; and (3) if such recommendations exceed such estimate, a surtax rate which the President determines to be necessary to be applied with respect to the income tax of taxpayers to those portions of taxable years of taxpayers occurring during such fiscal year, so that such receipts will equal such outlays. Directs the Speaker of the House of Representatives during the first quarter of each fiscal year, and during the third quarter of each fiscal year to: (1) estimate the receipts of the Government, other than trust funds, during such fiscal year; (2) estimate outlays to be made from funds other than trust funds during such fiscal year; and (3) (A) if such estimate of outlays exceeds such estimate of receipts, determine a surtax rate which the Speaker considers necessary to be applied, with respect to the income tax of taxpayers, to those portions of taxable years of taxpayers remaining in such fiscal year, so that such receipts will equal such outlays; or (B) if such estimate of outlays equals such estimate of receipts, determine that no surtax rate is necessary to be applied. Directs the President during the last month of each fiscal year to review whether the receipts of the Government, other than trust funds, for such year will be less than the outlays other than trust funds for that fiscal year. Provides that if he finds that such receipts are going to be less than such outlays, he shall determine a surtax rate which he considers necessary to be applied with respect to the income tax of taxpayers, so that taxes received by the Government from such surtax, when added to other receipts of the Government, will equal such outlays. Authorizes the suspension of the provisions of this Article in the case of a grave national emergency declared by Congress (including a state of war formally declared by Congress) by a concurrent resolution, agreed to by a rollcall vote of three-fourths of all the Members of each House of Congress, with each such resolution providing the period of time (not exceeding one year) during which those provisions are to be suspended.
United States · United States Congress · 12 March 1975
Provides for a sentence of not less than five nor more than fifteen years for the commission of a felony with a firearm in addition to the sentence imposed for the commission of the felony. Provides for an additional sentence of from ten to thirty years for the commission of any subsequent felony with a firearm.
United States · United States Congress · 4 March 1975
Increases to $3,600 the amount of outside earnings which is permitted an individual each year without any deductions from benefits under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act.
United States · United States Congress · 30 January 1975
Authorizes the President to provide financial assistance to land- grant-type universities to enable such universities to assist and cooperate in developing and improving land-grant-type universitites in agriculturally developing nations. Lists programs designed to effectuate this assistance including: (1) cooperation in developing capacity in the university in the cooperating nation for classroom teaching, and (2) cooperation in agricultural research to promote efficiency in the production of food. Establishes an International Land-Grant University Advisory Board to assist in the administration of this Act. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act. Stipulates that such sums shall not exceed $150,000,000 in a fiscal year.
United States · United States Congress · 23 January 1975
Appliance Dating Act - Requires any consumer durable product determined by the Federal Trade Commission to be of a type whose design or performance features are changed on a periodic basis in such a manner as to make its date of manufacture a relevant factor in connection with sales to consumers to be labeled by the manufacturer as to the month and year of manufacture.
United States · United States Congress · 23 January 1975
Performance Life Disclosure Act - Requires manufacturers of durable consumer products, including appliances and electronic items, to disclose on a conspicuous label or tag affixed to each item sold at retail to consumers the performance life, under normal operating conditions, of each manufactured durable product. Authorizes the National Bureau of Standards of the Department of Commerce to make regulations for this Act, and to determine the performance life of products and components of products covered by this Act. Directs the Federal Trade Commission to prevent any person from violating the provisions of this Act in the same manner and with the same jurisdiction as though all applicable terms and provisions of the Federal Trade Commission Act were incorporated into and made a part of this Act.
United States · United States Congress · 23 January 1975
Sales Promotion Game Act - Declares it to be an unfair method of competition for any manufacturer, producer, distributor, or wholesaler doing business in interstate commerce to require or encourage any retail seller to participate in a game in connection with the sale of any item, or for a retail seller to engage on his own in a game in connection with the sale of any item. Provides that whoever willfully violates the provisions of this Act shall be fined not more than $10,000 or imprisoned not more than five years or both. (Amends 15 U.S.C. 41-58)
United States · United States Congress · 23 January 1975
Establishes weight restrictions for vehicles on the Interstate System. Provides that no funds authorized to be appropriated for any fiscal year under the Federal-Aid Highway Act shall be apportioned to any State within the boundaries of which the Interstate System may lawfully be used by vehicles in excess of the established weight limitation.
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