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United States · Official source
2,818 records where Rep. Dreier, David [R-CA-26] is listed as a sponsor, author, or other actor. Search with topics and years
United States · United States Congress · 26 April 1988
Designates November 7, 1988, as The Memorial Day for Victims of Communism.
United States · United States Congress · 26 April 1988
Afghan Peace and Reconstruction Resolution - Urges the United Nations High Commissioner on Refugees to immediately develop a plan to assist the Afghans on their return to their homeland. Calls upon: (1) the Secretary of the Treasury and the Secretary of State to urge multilateral development banks and international organizations to contribute $300,000,000 over five years for the relief, reconstruction, and economic recovery of Afghanistan; and (2) the Secretary of State to urge certain nations to make a combined contribution of $450,000,000 for such purposes. Expresses the sense of the Congress that U.S. assistance to the Afghan resistance should not be cut off until the President is confident that all Soviet troops have been withdrawn from Afghanistan and that Soviet assistance to the current Afghan Government has ceased. Expresses the sense of the Congress that if the President determines that all such Soviet military assistance has been terminated, U.S. military support for the resistance is no longer necessary, and an acceptable government is in power, the President should request that the Congress provide $250,000,000 in assistance over five years for the relief, reconstruction, and economic recovery of Afghanistan.
United States · United States Congress · 21 April 1988
Drug-Free America Act of 1988 - Amends the Controlled Substances Act to establish criteria for the imposition of the death penalty when, during the course of a continuing criminal enterprise drug offense, an individual knowingly causes the death of another. Requires the Government, for such offense, to serve notice upon the defendant a reasonable time before trial or acceptance of a plea, disclosing that it intends to seek the death penalty and the aggravating factors upon which it will rely. Requires a separate sentencing hearing before a jury, or the court upon motion by the defendant, when the defendant is found guilty or pleads guilty to such offense. Allows the defendant and the Government to present any information relevant to sentencing without regard to the rules of evidence, but permits information to be excluded if its probative value is substantially outweighed by the danger of unfair prejudice, confusion of the issues, or misleading of the jury. Directs the court, or the jury by unanimous vote, to impose the death penalty upon finding that such sentence is justified based on consideration of both aggravating and mitigating factors. Sets forth some mitigating factors to be considered by the jury or the court when imposing its sentence. Includes as aggravating factors: (1) the intentional nature of the act which resulted in the victim's death; (2) previous convictions for offenses for which life imprisonment or death is authorized; and (3) the especially heinous, cruel, or depraved nature of the offense. Requires the court to instruct the jury not to consider the race, color, national origin, creed, or sex of the defendant in its consideration of the sentence. Allows the court to impose a sentence of life imprisonment without the possibility of parole for such offenses when the death penalty is not imposed. Establishes procedures for appeal from a death sentence. Requires the Court of Appeals, upon consideration of the record and the information and procedures of the sentencing hearing, to affirm the decision if: (1) the sentence was not imposed under the influence of passion, prejudice, or arbitrariness; and (2) the information supports the finding of aggravating factors or the absence of mitigating factors. Requires the court to provide a written explanation of its determination. Provides increased criminal penalties for the possession of a mixture or substance which contains cocaine base (crack). Establishes recordkeeping and reporting requirements for the manufacture, distribution, importation, and exportation of listed precursor and essential chemicals. Prohibits the distribution of such chemicals unless the recipient provides a certification of lawful use and proper identification. Establishes exemptions from such requirements: (1) for the distribution of such chemicals between agents or employees within a single facility; (2) for the delivery of such chemicals to or by common carriers; (3) if the Attorney General determines that such requirements are not necessary for the enforcement of this Act; and (4) if products containing such chemicals are lawfully marketed under the Federal Food, Drug, and Cosmetic Act. Establishes an import-export permit requirement for listed precursors and a declaration requirement for listed essential chemicals. Includes as precursor chemicals: (1) N-Acetylanthranilic acid; (2) Anthranilic acid; (3) Ergotamine tartrate; (4) Ergonovine maleate; (5) Phenylacetic acid; (6) Ephedrine; (7) Pseudoephedrine; (8) Benzyl cyanide; (9) Benzyl chloride; and (10) Piperidine. Includes as essential chemicals: (1) Potassium permanganate; (2) Acetic anhydride; (3) Acetone; and (4) Ethyl ether. Establishes a mechanism and criteria for adding or deleting chemicals from such lists. Prohibits the transfer of commercial tableting and encapsulating machines unless a certification of lawful use and proper identification are provided. Establishes reporting requirements for such transfers. Establishes criminal penalties for the unlawful: (1) possession, manufacture, distribution, sale, importation, or exportation of a precursor or essential chemical; and (2) possession, manufacture, distribution, or importation of drug manufacturing equipment, tableting or encapsulating machines, and gelatin capsules. Subjects all listed precursor and essential chemicals, drug manufacturing equipment, tableting and encapsulating machines, and gelatin capsules which have been imported, exported, manufactured, possessed, or distributed in violation of such Act (as well as all conveyances and equipment) to forfeiture to the United States. Directs the Attorney General to maintain an active program, both domestic and international, to curtail the diversion of precursor and essential chemicals. Grants the Attorney General subpoena power with respect to precursor and essential chemicals. Provides additional civil penalties for certain Controlled Substances Act violations involving heroin or cocaine. States that individuals who have been convicted of violations involving a controlled substance, or of criminal violations regarding certain reporting or recordkeeping requirements, shall be ineligible for any license or permit issued under the authority of the United States for a specified period of time. Provides that any permit or license held at the time of the conviction shall be revoked. Amends the Public Health Service Act to require States receiving Alcohol and Drug Abuse and Mental Health Services Block Grants to make grants for demonstration projects which provide treatment services to expectant mothers. Establishes in the Executive Office of the President the Office of the Director of National Drug Control Policy to be headed by a Director, who shall be responsible for: (1) developing, reviewing, implementing, and enforcing U.S. policy with respect to drug control and abuse; (2) directing and coordinating U.S. efforts to halt the importation, manufacture, distribution, and use of illicit drugs; and (3) preparing a National and International Drug Control Strategy. Terminates the National Drug Enforcement Policy Board 90 days after the appointment of the Director. Makes conforming amendments to the Comprehensive Crime Control Act of 1984 and the Drug Abuse Prevention, Treatment, and Rehabilitation Act. Authorizes appropriations for FY 1988 through 1996. Makes supplemental appropriations for Coast Guard drug enforcement activities. Authorizes Coast Guard vessels and aircraft to fire at or into vessels which are liable to seizure or examination that do not bring-to after being ordered to do so by an authorized vessel or aircraft. Grants the commanding officer of the authorized vessel or aircraft immunity for such actions. Allows the Commandant of the Coast Guard to indemnify members or employees of the Coast Guard against any claim arising out of an act committed within the scope of their official drug enforcement duties. Amends the Controlled Substances Act to extend jurisdiction over possession offenses to U.S. vessels and aircraft (and vessels and aircraft subject to the operation of the law of the United States). Subjects any U.S. citizen or resident on board any vessel to Federal criminal penalties for manufacturing, possessing, or distributing a controlled substance. Expresses the sense of the Congress that the suppression of international narcotics trafficking is a major security objective of the United States and the most important national security objective within the Western Hemisphere. Allows the Secretary of Defense to provide equipment to, or assign members of the armed forces to assist, foreign governments in the enforcement of drug laws. Provides for the assignment of members of the armed forces to assist Federal agencies in drug interdiction activities. Requires the Secretary to prepare a plan to implement such provision. Directs the Secretary of the Treasury to evaluate alternatives to the use of deadly force as a means of forcing suspected drug-smuggling aircraft entering the United States to land. Requires the Secretary to submit such recommendations to the Congress in the form of proposed legislation. Directs the Secretary to submit proposed legislation to the Congress relating to special restrictions and inspections for vessels and aircraft arriving from drug-producing countries. Amends the Foreign Assistance Act of 1961 to modify the factors to be considered by the President when determining whether to certify a country as having cooperated with United States drug interdiction programs. Directs the President to consider whether such countries have taken the steps necessary to eliminate the laundering of drug-related profits. Amends Federal law to include electronic fund transfers within the definition of "money instruments." Amends the National Forest System Drug Control Act of 1986 to provide additional law enforcement authority for the Forest Service in dealing with Controlled Substances Act violations by: (1) removing the limitation on the number of Service personnel who may exercise specified law enforcement powers; and (2) permitting the exercise of such powers by Service personnel outside of the boundaries of the National Forest System. Grants the Service authority, with respect to the specified law enforcement powers, to: (1) coordinate investigations and enforcement activities and prepare national and regional strategy plans in coordination with the Drug Enforcement Administration (DEA) and the Federal Bureau of Investigation (FBI); and (2) cooperate with the Attorney General in carrying out the seizure and forfeiture provisions of the Controlled Substances Act as such activities relate to the manufacture, distribution, or dispensing of controlled substances within the System. Establishes criminal penalties for polluting Federal lands while manufacturing, distributing, or dispensing a controlled substance. Amends the Comprehensive Drug Abuse Prevention and Control Act of 1970 to grant the Postal Service certain seizure and law enforcement authority with respect to Controlled Substances Act violations. States that all moneys and proceeds from such seizures shall be deposited in the Postal Service Fund (and later withdrawn and paid into the Department of Justice Assets Forfeiture Fund). States that any person convicted of a drug-related offense shall be ineligible for any form of student assistance provided under title IV of the Higher Education Act of 1965. Requires any person applying for such assistance to file a statement with the institution certifying that the person has not been convicted of a drug-related offense. Requires the Secretary of Education to prescribe methods for verifying such statements. Amends the Drug-Free Schools and Communities Act of 1986 to require State educational agencies to distribute funds for State and local programs for drug abuse education and prevention programs on the basis of relative enrollments in public and private, nonprofit schools (currently, on the basis of the relative number of children in the school-age population) within an area. Requires local applications for funds for a three-year period to include a description of: (1) the extent and nature of the current drug and alcohol problem in the schools of the applicant; (2) the applicant's drug and alcohol policy; and (3) how the applicant will monitor program effectiveness. Requires applicants to submit a progress report to State educational agencies for the preceding two years in order to receive funds for the third year. Requires the report to show reasonable progress toward accomplishing program objectives or a modified plan to meet such objectives. Requires States to report annually to the Secretary with specified information on programs funded under this Act. Authorizes appropriations for FY 1988 through 1991 to carry out the provisions of such Act. Authorizes appropriations for FY 1989 to the building and facilities account, Federal Prison System, for the construction, acquisition, remodeling, and equipping of prisons. Expresses the sense of the Congress that the National Institute of Justice should conduct a research project to obtain, on a voluntary basis, and analyze urine samples from individuals who are arrested to determine whether they use controlled substances. Amends the Federal criminal code to make regular drug testing and refrainment from any use of controlled substances mandatory conditions of parole and probation. Amends the Omnibus Crime Control and Safe Streets Act of 1968 to require Drug Law Enforcement Program grant recipients to provide additional matching funds. Amends the Rehabilitation Act of 1973 to exclude any individual who uses or is addicted to illegal drugs from the definition of an individual with handicaps, for purposes of specified provisions. Amends specified Federal law which prohibits discrimination against Federal employees or applicants for Federal employment to provide that such prohibition shall not be construed to permit or require the employment of an individual who uses illegal drugs.
United States · United States Congress · 20 April 1988
Anti Toy Gun Threat Act of 1988 - Amends the Federal criminal code to provide mandatory penalties for using or carrying an imitation firearm during the commission of a Federal crime of violence or Federal drug trafficking crime.
United States · United States Congress · 18 April 1988
Flat Tax Act of 1988 - Amends the Internal Revenue Code to impose a 15 percent tax on the taxable income of every individual, including any estate or trust. Repeals all tax exclusions and tax credits currently used to determine individual income tax liability. Repeals all income tax deductions, except for the standard deduction, the deduction for personal exemptions, and trade or business deductions. Directs the Secretary of the Treasury, within 90 days of this Act's enactment, to submit to a specified congressional committee a draft of conforming and technical changes in the Internal Revenue Code that would be required to reflect the changes made by this Act.
United States · United States Congress · 13 April 1988
Designates the month of October 1988 as Lupus Awareness Month.
United States · United States Congress · 31 March 1988
Designates May 1988 as Take Pride in America Month.
United States · United States Congress · 30 March 1988
Federal Law Enforcement Officers Death Penalty Act of 1988 - Amends the Federal criminal code to subject any person who is found guilty of the first degree murder of a Federal law enforcement officer, or certain other Federal officials or employees, to the penalty of death. Establishes procedures for the imposition of the death penalty in such cases. Provides that no person who was less than 18 years of age may be sentenced to death. Sets forth mitigating and aggravating factors to be considered by the jury in determining whether the death sentence will be imposed. Requires the Government to serve notice upon the defendant a reasonable time before trial or acceptance of a plea that it intends to seek the death penalty, as well as notice of the aggravating factors upon which it will rely. Provides that no presentence report shall be prepared in such cases. Requires a separate sentencing hearing before a jury or the court (upon motion by the defendant) when the defendant is convicted and the Government has filed notice that it intends to seek the death penalty. Allows the Government and the defendant to present any information relevant to a mitigating or aggravating factor without regard to the rules of evidence, but permits information to be excluded where its probative value is substantially outweighed by the danger of creating unfair prejudice, confusing the issues, or misleading the jury. Conditions imposition of the death penalty on a unanimous finding by the jury or, if there is no jury, the court, that: (1) the aggravating factors found to exist sufficiently outweigh any mitigating factor found to exist; or (2) in the absence of a mitigating factor, the aggravating factors alone are sufficient to justify a sentence of death. Requires the court to instruct the jury not to consider the race, color, national origin, creed, or sex of the defendant in its consideration of the death sentence. Directs the court to impose the death sentence upon a finding that such sentence is justified. Establishes procedures for appeal from a death sentence. Requires the court of appeals, upon consideration of the record and the information and procedures of the sentencing hearing, and any special finding, to affirm the decision if: (1) the sentence was not imposed under influence of passion, prejudice, or arbitrariness; and (2) the information supports the special finding of the existence of an aggravating factor. Requires the court to provide a written explanation of its determination. Establishes procedures for the implementation of the death sentence.
United States · United States Congress · 30 March 1988
Recycling Markets Development Act of 1988 - Amends the Solid Waste Disposal Act to require the Administrator of the Environmental Protection Agency (EPA) to establish labeling requirements for all paper and cardboard products and all food and beverage containers manufactured in or imported into the United States which cannot be recycled and which are not made from at least ten percent recycled materials. Treats any product or container which does not contain such required label as in violation of the Fair Packaging and Labeling Act. Revises the Federal procurement provisions of the Solid Waste Disposal Act to restrict certain agency decisions not to procure paper meeting minimum content requirements for recovered materials and to revise the guidelines issued by the Administrator with respect to Federal agencies complying with the requirements of such Act. Requires the Administrator, within two years of enactment of this Act, to prepare final guidelines for used oil and plastics. Requires the issuance of a uniform national standard for paper for procuring agencies with at least ten percent being the minimum content of the past consumer recovered materials. Makes a State eligible for certain Federal assistance under such Act only if the State has adopted procurement rules for paper which conform to Federal standards. Establishes an Office of Waste Reduction, Reuse, and Recycling within Office of Solid Waste in EPA, to perform: (1) the responsibilities of the Administrator with respect to labeling requirements and mandatory uniform standards for paper; and (2) other related duties with respect to recycling programs. Directs the Office of Technology Assessment (OTA) to study: (1) the economic incentives and disincentives provided by Federal and State government which affect competition between recycled and virgin materials; and (2) foreign recycling operations which might be used in the United States. Requires EPA and the Secretary of Commerce to cooperate fully with OTA.
United States · United States Congress · 30 March 1988
Expresses the concern of the House of Representatives regarding the future security of the Panama Canal. Calls on the President to renegotiate the Panama Canal Treaties to permit: (1) the permanent stationing of U.S. forces in Panama; and (2) the United States to act independently to maintain the security of the Canal and to guarantee its regular operation.
United States · United States Congress · 30 March 1988
Calls upon the Soviet Union and its allies to withhold further military assistance to the Government of Nicaragua and to withdraw military advisors and support personnel from that country. Calls upon the Government of Nicaragua to: (1) reverse significantly the growth of its armed forces; (2) work toward a stabilization of the regional military balance and prevent the introduction of advanced weapon systems; and (3) separate the armed forces from the Sandinista political party.
United States · United States Congress · 29 March 1988
Amends the Revenue Act of 1987 to delay until October 1, 1988, the imposition of excise tax on wholesale sales of diesel and aviation fuels. (Under current law the tax applies to sales after March 31, 1988.)
United States · United States Congress · 29 March 1988
Global Poverty Reduction Act - Amends the Foreign Assistance Act of 1961 to direct the President to develop a plan to ensure that U.S. development assistance contributes measurably toward eradicating the worst aspects of absolute poverty by the year 2000. Requires that such plan include target dates for reaching specific measurable goals whose attainment would contribute to direct improvements in the living standards of the poorest 40 percent of the population. Specifies that such goals shall include reducing the mortality rate of infants under age five, increasing the female literacy rate, and reducing the percentages of populations below the absolute poverty level by specified amounts by the year 2000. Directs that primary emphasis of development activities to restore the renewable natural resource base shall be on small-scale, affordable, low-risk local projects featuring close consultation with, and involvement of, local people at all stages of project design and implementation. Requires the President to submit the plan to the Congress by July 1, 1989. Requires all U.S. development assistance to be directed at attaining plan goals between October 1, 1989, and December 31, 2000. Requires the President to submit annual reports to the Congress detailing progress toward achieving plan goals. Directs the Comptroller General to review and comment on each report issued. Directs the President to host an international development conference for heads of governments of development assistance donor and recipient countries by October 16, 1989, to conclude an international agreement on eliminating the worst aspects of absolute poverty by the year 2000.
United States · United States Congress · 17 March 1988
Civil Rights Protection Act of 1988 - Amends title IX (Prohibition of Sex Discrimination) of the Education Amendments of 1972 to define the phrase "program or activity" and the term "program" to mean all the operations of the following entities, any part of which is extended Federal financial assistance: (1) the part of a department, agency, special purpose district, or other instrumentality of a State or local government to which the assistance is extended; (2) the part of the entity of a State or local government which distributes such assistance; (3) a college, university, or other postsecondary institution, or public system of higher education; (4) a local educational agency, system of vocational education, or other school system; and (5) a corporation, partnership, or other private organization or sole proprietorship. States that such terms do not include any operation of an entity which is controlled by a religious organization. States that nothing in such Act shall be construed to: (1) require or prohibit any person or entity to provide or pay for an abortion; or (2) permit a penalty to be imposed upon any person who is seeking or has had a legal abortion. Amends the Rehabilitation Act of 1973, the Age Discrimination Act of 1975, and the Civil Rights Act of 1964 to define the phrase "program or activity" to mean all of the activities of the aforementioned entities. States that nothing in this Act shall be construed to extend the application of such Acts to: (1) ultimate beneficiaries of Federal financial assistance excluded from coverage before the enactment of this Act; (2) any part of a church or synagogue, if such part does not receive Federal financial assistance; (3) any grocery store, supermarket, or other similar business entity based upon participation in the Federal Food Stamp Program; or (4) any farm, farmer, ranch, or rancher based upon participation in any Federal agricultural program. States that this Act does not require any individual or hospital, or other institution, program, or activity that receives Federal financial assistance to perform or pay for an abortion. Amends the Rehabilitation Act of 1973 to provide that the anti-discrimination provisions relating to employment shall not apply to individuals having a contagious disease or infection who, by reason of such disease or infection: (1) would constitute a direct threat to the health or safety of others; or (2) are unable to perform the duties of the job.
United States · United States Congress · 15 March 1988
Postal Reorganization Act of 1988 - Declares that the receipts and disbursements of the Postal Service Fund: (1) shall not be included in the totals of the Federal budget or the congressional budget; (2) shall be exempt from Federal budget limitations on expenditures and net lending; and (3) shall not be counted for purposes of calculating the Federal deficit. Repeals certain limitations on postal borrowing authority. Increases the limitations on postal borrowing authority.
United States · United States Congress · 9 March 1988
Declares that the President should: (1) posthumously award the Presidential Medal of Freedom to Charles E. Thornton, Lee Shapiro, and Jim Lindelof in honor of their efforts to document the Afghan struggle for freedom; and (2) present the award to those individuals' families on March 21, 1988, the start of the new year in Afghanistan.
United States · United States Congress · 7 March 1988
Supports U.S. assistance to the Afghan resistance. Declares that any settlement in Afghanistan must: (1) provide for Afghan self-determination; (2) outline a definite timetable of less than ten months for the complete withdrawal of Soviet troops; and (3) provide for the safe return of refugees. Supports Pakistan's efforts to achieve a settlement agreement in current negotiations in Geneva with Pakistan. Urges the President to support a solution acceptable to the Afghan resistance, insist on the withdrawal of Soviet advisers with the troops, require the Soviets to terminate all forms of military assistance to the Kabul regime, and ensure continued international assistance to the Afghan refugees until all Soviet bloc forces have been withdrawn. Expresses the House of Representatives': (1) support for increased U.S. humanitarian assistance to the Afghan people during and following a Soviet withdrawal; (2) support for an international observer force to monitor Soviet compliance with a withdrawal agreement; (3) belief that the U.S. Government should not restrict assistance to the Afghan resistance until the President has determined that the Soviets have ended their occupation and that the mujahadeen can maintain its integrity during the transition period leading to new elections; and (4) sense that U.S. obligations are contingent on Soviet compliance with any withdrawal agreement.
United States · United States Congress · 2 March 1988
Amends the Depository Institutions Management Interlocks Act to revise the definition of "affiliated" corporation to mean a corporation which is more than 25 percent owned by persons who own more than 25 percent of another corporation. (Present law defines such term as 50 percent ownership.) Revises the definition of "management official" to exclude an advisory or honorary director. Defines the "primary Federal supervisor" for purposes of such Act to mean the agencies authorized to issue rules and regulations under such Act (the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration). Authorizes the primary Federal supervisor to grant an exception to the prohibition against the dual service of management officials of depository institutions within a primary metropolitan statistical area. Specifies that such an exception may be made upon a finding that such dual service of a management official would not result in a substantial lessening of competition. Provides an exception to the prohibitions against dual service of management officials of depository institutions within a primary metropolitan statistical area and against dual service of management officials of $1,000,000,000 institutions with an unaffiliated $500,000,000 institution in cases of: (1) a company which has acquired a failed or failing insured institution pursuant to the emergency thrift acquisitions provisions of the National Housing Act; (2) a depository institution or depository holding company which has acquired a closed bank or a bank in danger of closing; and (3) any diversified savings and loan holding company with respect to the service of a director of a nonaffiliated depository institution or depository holding company as a director of the diversified savings and loan holding company if neither appropriate Federal supervisor disapproves.
United States · United States Congress · 2 March 1988
Designates the period beginning May 16 and ending May 22, 1988, as National Safe Kids Week.
United States · United States Congress · 1 March 1988
Calls upon the President to: (1) maintain U.S. military and humanitarian assistance to the Afghan resistance until the Soviet Union withdraws its forces from Afghanistan; and (2) ensure that any political solution to the war in Afghanistan guarantees the self-determination of the Afghan people.
United States · United States Congress · 25 February 1988
Designates the week beginning June 12, 1988, as National Scleroderma Awareness Week.
United States · United States Congress · 24 February 1988
Expresses disapproval of the refusal of the U.S.S.R. to recognize the sovereignty of the Baltic Republics. Designates June 14, 1988, as Baltic Freedom Day. Authorizes and requests the President to submit the issue of the Baltic Republics to the United Nations.
United States · United States Congress · 24 February 1988
Designates the month of June 1988 as National Recycling Month.
United States · United States Congress · 23 February 1988
Authorizes the Secretary of the Interior, in order to provide for water conservation, to: (1) construct a new lined canal or to line the presently unlined portions of the All-American Canal of the Boulder Canyon Project; and (2) implement measures to replace incidental fish and wildlife values foregone. Provides that the water conserved by the project shall be available for beneficial consumptive use within California as specified in existing water delivery contracts. Entitles participating contractors to a proportionate share of the water conserved. Directs the Secretary to study the impact of the project on the operation and maintenance of the existing All-American Canal and its Coachella Branch and to provide for certain additional costs if necessary. Requires the cost of the project to be paid from funds advanced by the participating contractors and in accordance with terms and conditions acceptable to the Secretary. Provides that title to all constructed facilities shall rest with the United States, subject to disposal by the Secretary at his discretion as permitted under certain existing repayment contracts.
United States · United States Congress · 17 February 1988
Authorizes and requests the President to designate April 24 through April 30, 1988, as National Organ and Tissue Donor Awareness Week.
United States · United States Congress · 16 February 1988
Amends the Internal Revenue Code to allow an individual taxpayer a refundable income tax credit, in an amount based on adjusted gross income (minimum credit of $150), for each dependent below the age of compulsory school attendance in the State where the taxpayer resides. Sets the maximum credit amount as the total employee tax withheld from the taxpayer's wages during the year under the Federal Insurance Contributions Act. Disallows application of the nonrefundable dependent care income tax credit with respect to a taxpayer's dependents under age 15, unless the child is physically or mentally incapable of self-care.
United States · United States Congress · 8 February 1988
Amends the Small Business Act with respect to breakout procurement center representatives. Removes restrictions on the technical data and procurement records available to such representatives, providing access to certain restricted and classified materials. Revises appeals procedures in connection with a representative's appeal of failure to act favorably on his or her recommendations. Revises the definition of "major procurement center" to include entities other than centers of the Department of Defense and to permit the Administrator of the Small Business Administration discretion in determining eligible centers. Adds the following as duties of breakout procurement center representatives: (1) to conduct familiarization sessions for contracting officers and other appropriate personnel of the assigned procurement center; and (2) to prepare and personally deliver an annual briefing and report to the head of the procurement center. Requires this latter individual personally to receive the briefing and report and to respond in writing, within 60 days, to each recommendation.
United States · United States Congress · 8 February 1988
Designates September 16, 1988, as National POW/MIA Recognition Day.
United States · United States Congress · 2 February 1988
Child Protection and Obscenity Enforcement Act of 1988 - Title I: Child Pornography - Amends the Federal criminal code to make it illegal to use a computer to transport information in interstate or foreign commerce concerning the visual depiction of minors engaging in sexually explicit conduct (child pornography). Establishes criminal penalties for buying, selling, or transferring the custody of a minor: (1) knowing that, as a consequence of the sale or transfer, the minor will be used in child pornography; or (2) with the intent to promote child pornography. States that such sale or transfer must involve: (1) the minor or other actor traveling in interstate or foreign commerce; (2) communications in interstate or foreign commerce; or (3) conduct in a territory or possession of the United States. Requires any person who produces a book, magazine, periodical, film, videotape, or other matter which contains any visual depiction of sexually explicit conduct (which is shipped or intended for shipment in interstate or foreign commerce, or contains material shipped in interstate or foreign commerce) to maintain certain records regarding the performers portrayed in such conduct. Directs the Attorney General to issue regulations regarding the maintenance and availability of such records. Includes the sexual exploitation of children as a predicate offense to the Racketeer Influenced and Corrupt Organizations (RICO) statute. Title II: Obscenity - Makes it a Federal criminal offense to receive or possess, with the intent to distribute, obscene matter which has been transported in interstate or foreign commerce. Makes it a Federal criminal offense to knowingly use a facility or means of commerce to sell or distribute obscene matter in interstate or foreign commerce. Establishes a rebuttable presumption, with respect to Federal criminal offenses involving obscene matter, that obscene matter produced in one State (or outside the United States) which is subsequently located in another State (or in the United States) was transported, shipped, or carried in interstate (or foreign) commerce. Establishes criminal and civil forfeiture procedures with respect to Federal offenses involving obscene material and child pornography. Includes communications by means of cable or subscription television within the prohibition against broadcasting obscene language. Amends the Communications Act of 1934 to modify the penalty provisions of such Act with respect to obscene telephone communications. Amends the Federal criminal code to establish criminal penalties for the possession or sale of obscene matter on Federal property. Adds obscenity offenses to the list of crimes for which the Government may obtain wiretaps.
United States · United States Congress · 27 January 1988
Amends the Internal Revenue Code with respect to the excise tax on diesel and aviation fuels. Prohibits imposition of the tax on the sale of these fuels to any purchaser (or purchaser for resale to a second purchaser) for use on a farm for farming purposes or for any other use not as a fuel in a diesel-powered highway vehicle or train. (Although fuel sold for these purposes is tax-exempt under current law, provisions of the Revenue Act of 1987 require purchasers to pay the tax and subsequently apply for a refund based on nontaxable uses of the fuel.)
United States · United States Congress · 27 January 1988
Commends the President, Secretary of State, and Administrator of the Agency for International Development for their response to the drought and food emergency in Ethiopia and other nations of sub-Saharan Africa, and urges them to continue efforts to preclude the onset of famine and to ensure the timely delivery of medical and other emergency relief supplies. Declares that: (1) the Government response to these food emergencies should include initiatives to prevent the dislocation of large numbers of persons across national borders and/or into relief camps; and (2) the plight of the refugees or displaced should be addressed by emphasizing the provision of basic human needs, such as food, water, and shelter.
United States · United States Congress · 18 December 1987
Depository Institution Affiliation Act - Title I: Creation and Control of Depository Instituion Holding Companies - Sets forth the terms and conditions under which a depository institution holding company (DIHC) can be established and must be operated. Requires any DIHC seeking to acquire control of an insured bank, an insured institution, a bank holding company, a savings and loan holding company, or a depository institution holding company to comply with the requirements of the Change in Bank Control Act or the Change in Savings and Loan Control Act, as applicable. Establishes penalties and additional procedures for failing to comply with such requirements. Permits the appropriate Federal regulatory agency the (Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, or the Federal Home Loan Bank Board) to adopt rules and regulations to prevent an insured bank or institution that is controlled by a DIHC from engaging in unsafe or unsound practices. Subjects DIHCs to the same restrictions on affiliate transactions that are imposed upon member banks (banks which are members of a Federal Reserve bank) under the Federal Reserve Act. Establishes additional restrictions on inter-affiliate transactions, including prohibiting an insured bank or institution that is an affiliate of a DIHC from: (1) extending credit to a securities affiliate or subsidiary; and (2) purchasing the assets of a securities affiliate or subisdiary. Provides certain exceptions from such restrictions. Requires any DIHC which is in control of an insured bank or institution found to be undercapitalized to: (1) enter into an agreement with the appropriate Federal regulatory agency to return the bank or institution to compliance with the applicable minimum required capital; (2) divest control of such bank or institution; or (3) be subject to civil penalty. States that Federal regulatory agencies may not impose requirements pertaining to the capitalization of a DIHC. Subjects interstate acquisitions: (1) of an insured bank by a DIHC to the same restrictions applicable to bank holding companies under the Bank Holding Company Act of 1956; and (2) of an insured institution by a DIHC to the same restrictions applicable to savings and loan companies. Prohibits Federal and State governments from enacting laws that discriminate against DIHCs. Prohibits insured banks and institutions that are associated with a DIHC from: (1) dealing in or underwriting securities; (2) underwriting insurance; or (3) investing in or developing real estate. Provides certain limitations on DIHC entry into the businesses of insurance agency and real estate brokerage. Subjects DIHCs to the tying provisions of the Bank Holding Company Act Amendments of 1970 and to the insider lending prohibitions of the Federal Reserve Act Makes conforming amendments to the Bank Holding Company Act of 1956. Amends the Federal Reserve Act to provide that, for the purpose of restricting loans or extending credit to affiliates, a loan or extension of credit shall not be deemed to be made to an affiliate if: (1) the approval of such loan or extension of credit was in accordance with the same standards and procedures and on substantially the same terms that apply to similar loans or extensions of credit; and (2) such loan or extension of credit was not made for the purpose of evading any of the requirements of such Act. Amends the Banking Act of 1933 to make certain provisions which prohibit member banks from becoming affiliated with securities corporations inapplicable to member banks which are controlled by DIHCs. Makes conforming amendments to the Federal Deposit Insurance Act and the National Housing Act. Requires the acquisitions of DIHCs controlling insured institutions to be in accordance with the procedures of such Acts. Amends the Clayton Act to exempt acquisitions of insured banks and institutions by DIHCs from the premerger notification requirements of the Depository Institution Affiliation Act, the Federal Deposit Insurance Act, and the National Housing Act. Makes conforming amendments to the Community Reinvestment Act. Title II: Supervisory Improvements - Establishes a National Financial Services Committee to establish uniform principles and standards for the examination and supervision of financial institutions and other providers of financial services. Title III: Thrift Improvements - Amends the National Housing Act to exempt institutions controlled by DIHCs from the definition of "insured institution" for purposes of the Savings and Loan Holding Company Act. States that savings and loan holding companies and their subsidiaries shall not be subject to the debt approval requirements of such Act if their insured subsidiaries have met certain qualified thrift lender requirements. Deletes the Savings and Loan Holding Company Act management interlock prohibitions. Establishes affiliate transaction standards which are applicable to all insured institutions. Preempts inconsistent State and Federal laws, rules, and regulations. Exempts savings and loan holding companies from restrictions on: (1) affiliation with institutions which engage in underwriting and distributing securities; and (2) cross marketing practices. Amends the Depository Institutions Management Interlocks Act to permit management interlocks between savings and loan holding companies whose insured subsidiaries satisfy the qualified thrift lender requirement (unless the Federal Home Loan Bank Board determines that such an interlock would result in a monopoly or lessen competition and that preventing the interlock is the only way to prevent such anticompetitive results).
United States · United States Congress · 9 December 1987
Calls upon the Soviet Union to: (1) withdraw Soviet troops immediately from Afghanistan, restore Afghan cultural institutions and human rights, and allow the verification of this restoration by international organizations; (2) release Afghan children being held in the Soviet Union against their will, or without the knowledge or consent of their parents; and (3) pending such release, permit parental access to the detained children, make public their names and locations, and permit an international organization to verify that such parental access and public disclosure are being carried out and that the children are not being abused or tortured.
United States · United States Congress · 8 December 1987
Expresses the sense of the Congress that, in celebration of the millennium of the Christianization of Kievan-Rus', the Soviet Union should: (1) comply with its international obligations and allow Christians to practice their faith without harassment; (2) grant a general amnesty for all Christians who have been imprisoned because of their religious beliefs; (3) allow religious believers to practice their faith freely; (4) permit unlimited publication, distribution, and importation of religious materials; and (5) allow closed churches to reopen, new churches to be built, and theological seminaries to open or expand.
United States · United States Congress · 20 November 1987
Consumer Banking Act of 1987 - Amends the Bank Holding Company Act of 1956 to allow the establishment of depository institutions to be known as consumer banks. Requires a consumer bank: (1) not to engage in the business of making commercial loans; (2) to pay dividends to its shareholders only to the extent permitted for a national bank; (3) to engage in covered transactions with affiliates only to the extent permitted by the Federal Reserve Act; (4) to maintain investments of at least 65 percent of its total assets during two of every three consecutive years in loans or extensions of credit to natural persons secured by a one to four family residence or for personal, family, or household purposes, loans and extensions of credit for charitable purposes, loans or extensions of credit to individuals through the use of credit cards or similar means, and the purchase of, or investment in, retail installment sales contracts, consumer loans, and accounts receivable; (5) to make available in the State in which such bank is chartered an aggregate amount of loans equal to 65 percent of the deposits received from residents of that State; (6) to disclose that certain actions are taken on behalf of an affiliate and that the customer is not obligated to purchase any product or use any service of the bank or affiliate in order to obtain any other financial service; and (7) not to sell or offer any product or service other than products or services which may be sold or offered by a national bank. Authorizes the Federal Reserve Board to enforce compliance with consumer bank requirements and to regulate companies which control consumer banks and non-bank affiliates of such banks. Makes applicable to consumer banks the anti-tying provisions of the Bank Holding Company Act and specified provisions of the Community Reinvestment Act of 1977. Amends the Federal Reserve Act to exclude from the restrictions on transactions by a member bank with affiliates an extension of credit to a holder of a credit card to finance the purchase of goods or services from an affiliate if such credit card can be used by the holder to finance purchases of goods or services from persons that are not affiliates of the member banks. Provides that a State may not prohibit or otherwise restrict the affiliation of a bank or any other institution with a consumer.
United States · United States Congress · 18 November 1987
Dwight David Eisenhower Commemorative Coin Act of 1987 - Directs the Secretary of the Treasury to mint and issue not more than a specified number of one dollar silver coins in commemoration of the 100th anniversary of the birth of Dwight David Eisenhower. Sets forth certain features of such coins and provides for their design, issuance, and sale. Terminates the minting of the coins after December 31, 1990. Requires the Secretary to deposit in the Treasury all surcharges received from the sale of the coins, to be used to reduce the national debt.
United States · United States Congress · 9 November 1987
Forgotten Widows and Survivor Benefits Improvements Act of 1987 - Amends armed forces annuity payment provisions to provide that $165 a month shall be the minimum benefit payable to a surviving spouse eligible for such annuity. Provides that any amount in excess of $165 of an annuity payment shall be considered income under laws administered by the Veterans Administration. Provides the same monthly annuity to certain widows and widowers of persons who became entitled to retired or retainer pay before their death before a certain date, or who chose not to provide their spouse with an annuity and died before a certain date. Prohibits a monthly annuity from being reduced to less than $165 a month when such annuity is reduced because there is no longer a dependent child or because the widow or widower attains age 62.
United States · United States Congress · 29 October 1987
Designates the week beginning September 11, 1988, as Total Education Awareness Week, recognizing that the educational experience should address the total needs of children, including their intellectual, psychological, social, and physical needs.
United States · United States Congress · 28 October 1987
Designates the month of June 1988 as National Recycling Month.
United States · United States Congress · 22 October 1987
Designates the week of June 5 through June 11, 1988, as National NHS-NeighborWorks Week.
United States · United States Congress · 21 October 1987
Designates November 14, 1987, as Congressional Medal of Honor Day.
United States · United States Congress · 20 October 1987
Declares congressional support for the President's policy of protecting freedom of navigation in the Persian Gulf and restoring the peace and security of the region through continued diplomatic initiatives, cooperation with U.S. allies in the region, and appropriate military actions. Expresses the sense of the Congress that: (1) U.S. armed forces in the Gulf should continue to have the authorization to respond expeditiously in a defensive manner to military actions which immediately threaten the safety of U.S. personnel, shipping under the U.S. flag, and other U.S. interests; and (2) the President should continue to consult the leadership of the Congress to the maximum extent practicable before authorizing military responses to attacks in the Gulf and should report to the Congress in a timely manner on incidents involving U.S. forces in the Gulf.
United States · United States Congress · 15 October 1987
Designates the period of August 1 through August 8, 1988, as National Harness Horse Week.
United States · United States Congress · 14 October 1987
Amends title XVIII (Medicare) of the Social Security Act to revise the standards applicable to Medicare supplemental health insurance policies so that such policies provide coverage of the catastrophic health care expenses which the Medicare program does not reach.
United States · United States Congress · 13 October 1987
Omnibus Taxpayers' Bill of Rights Act - Requires the Secretary of the Treasury (Secretary) to prepare a statement setting forth in nontechnical terms: (1) the rights and obligations of a taxpayer and of the Internal Revenue Service (IRS) during a tax audit; (2) the procedures by which a taxpayer may appeal adverse decisions, prosecute refund claims, and file complaints; and (3) the procedures that the IRS may use in enforcing revenue laws. Directs the Secretary to transmit drafts of such statement to specified congressional committees and to distribute the final statement to all taxpayers receiving annual tax filing forms from the IRS. Requires the IRS, upon taxpayer request, to conduct any interview regarding the determination or collection of any tax at a reasonable time and place convenient to the taxpayer and to the IRS, and to permit the taxpayer, at his or her own expense, to record the interview. Authorizes the IRS interviewer to record such interview if the taxpayer has been given prior notice and is provided, upon request and payment of reproduction costs, with a transcript of the recording. Requires the interviewer to explain to the taxpayer the audit process, including the taxpayer's rights with respect to the process. Requires the Secretary to abate any penalty or interest imposed on any deficiency attributable to erroneous advice in writing given to a taxpayer by an IRS officer or employee in response to such taxpayer's specific inquiry. Authorizes the IRS Ombudsman, upon application filed by a taxpayer, to issue a Taxpayer Assistance Order if, in the determination of the Ombudsman: (1) the taxpayer is suffering or is about to suffer from an unusual or irreparable loss as a result of the manner in which the internal revenue laws are being administered by the Secretary; and (2) the Secretary has failed to carry out any of his or her duties or has violated any provision of law. Allows the terms of a Taxpayer Assistance Order to require the Secretary to release property of the taxpayer levied upon or to cease or refrain from certain actions. Requires the Secretary to obey any Taxpayer Assistance Order issued by the Ombudsman. Directs the Secretary, within 90 days of this Act's enactment, to issue regulations with respect to Taxpayer Assistance Orders, including provisions to assure full, fair, and impartial due process for affected taxpayers. Amends the Inspector General Act of 1978 and other Federal law to establish within the Department of the Treasury an Office of Inspector General. Transfers to such Office the existing audit and investigation units of the Department. Sets forth criteria with respect to: (1) the authority of the Inspector General to conduct an investigation; and (2) the authority of the Secretary in cases of audits or investigations requiring access to information of a sensitive or confidential nature. Allows the Secretary to prohibit investigations under specified circumstances. Restricts disclosure by the Inspector General of tax returns and return information. Prohibits records of tax enforcement results from being used to evaluate certain IRS personnel or to impose or suggest production quotas. Requires district directors to certify compliance with this mandate on a monthly basis. Requires the Secretary to certify that a rule proposed by the IRS is substantially the only alternative that meets the mandate of the relevant statute in order for the rule to be considered an interpretative rule (and thereby not subject to analyses under the Regulatory Flexibility Act). Amends the Regulatory Flexibility Act to require regulatory flexibility analyses to include consideration of both the direct and indirect beneficial and negative effects of a proposed or final rule. Amends the Internal Revenue Code to direct the Secretary, with limited exceptions, to send a preliminary letter of deficiency to a taxpayer prior to the mailing of a deficiency notice. Specifies required contents for tax due notices and deficiency notices, including the basis of the deficiency and a breakdown of the total amount into tax, interest, and penalty. Directs the Secretary, within 90 days of this Act's enactment, to issue regulations requiring all IRS personnel to explain and support their position in assessing any penalties or additions to tax. Requires the Comptroller General to study IRS procedures with respect to such assessments and to present findings to specified congressional committees no later than December 31, 1988. Authorizes the Secretary to enter into a binding agreement with a taxpayer under which the taxpayer may pay tax liability in installments if the Secretary determines that such an agreement will facilitate collection of the liability. Permits the Secretary, after proper notice and a hearing, to modify or annul the agreement upon the finding that the financial condition of the affected taxpayer has significantly changed. Renders such an agreement nonbinding if the taxpayer fails to pay any installment or any other tax liability when due. Extends from ten to 30 days the period between the required notice to a person who neglects or refuses to pay tax liability and a levy on such person's salary, wages, or other property. Specifies information that must be incorporated in such notice, including possible alternative actions and the appropriate appeals procedures. Adds to the circumstances triggering termination of such a levy: (1) an agreement between the taxpayer and the Secretary for payment of the liability; and (2) the Secretary's determination that the taxpayer's financial condition precludes enforceability of the liability. Revises the list of property exempt from levy to: (1) increase the exempt amount permitted for certain personal effects, the property of a business, and wages; (2) add an exemption for certain deposits in qualified institutions; and (3) provide an express exemption, except under limited circumstances specified in this Act, for the taxpayer's principal residence, a motor vehicle used by the taxpayer as the primary means of transportation to work, and any tangible personal property essential to the operation of the taxpayer's business in cases when a levy would prevent the taxpayer from carrying on such business. Prohibits a levy on any property when levy and sales expenses would exceed either the liability for which the levy is made or the fair market value of the levied property. Permits the Secretary to demand surrender of bank accounts only after 21 days in escrow have passed since service of the notice of levy on the accounts. Sets forth situations in which the Secretary must release a levy. Applies to jeopardy levies the administrative and judicial review procedures currently applicable to jeopardy assessments. Permits a taxpayer to bring a civil action against the United States in the Tax Court for judicial review of jeopardy levies and assessments. (Under current law an action for judicial review of jeopardy assessments may be filed only in district court.) Increases the time during which a taxpayer may petition for such review. Describes the jurisdictional requirements to be applied to such actions. Allows an administrative appeal of tax liens. Grants to the Tax Court exclusive jurisdiction to enjoin premature assessments if the taxpayer has filed a timely petition for review. Provides for review of such injunctive orders by the U.S. Court of Appeals. Grants to the Tax Court jurisdiction to enforce payment by the Secretary of refunds of overpayment and interest to taxpayers. Places on the Secretary the burden of proof of justifying any failure to refund, credit, or offset relevant amounts with respect to a taxpayer. Entitles a prevailing taxpayer to: (1) an interest rate of 120 percent of the overpayment rate with respect to refunds; and (2) reasonable litigation costs. Grants to the Tax Court jurisdiction to: (1) review jeopardy assessment sales of assets; and (2) redetermine interest under certain circumstances when a taxpayer claims an overpayment of the interest. Vests in the Tax Court original jurisdiction over any civil action against the Secretary for the recovery of any tax, additions to tax, and penalties with respect to income, estate, gift, and certain excise taxes. Authorizes an award of reasonable litigation costs to the prevailing party in proceedings by taxpayers before the Internal Revenue Service. Permits a taxpayer to bring a civil action in district court for actual damages resulting from the failure of any Federal officer or employee to release a tax lien on the taxpayer's property. Permits a civil cause of action in district court for damages resulting from the careless, reckless, or intentional disregard of internal revenue laws by any Federal officer or employee. Denies damage awards in cases of contributory negligence. Authorizes a damage award, to a $10,000 maximum, to the United States in cases of frivolous or groundless claims by a taxpayer. Amends the Internal Revenue Code to prescribe criminal penalties for: (1) any investigation or surveillance authorized or conducted by an officer or employee of the United States in connection with Federal tax laws that inquires into the beliefs, associations, or activities of any individual or organization; or (2) the maintenance of any records containing information derived from such an investigation. Establishes in the Internal Revenue Service the Office for Taxpayers Services, under the supervision of an Assistant Commissioner of Internal Revenue. Directs this Assistant Commissioner to: (1) be responsible for telephone, walk-in, and educational services, and for the design and production of tax and information forms; and (2) prepare annually, for presentation to specified congressional committees, a joint report (with the Chief Problem Resolution Officer for the IRS) on the quality of taxpayer services.
United States · United States Congress · 9 October 1987
Declares that the House of Representatives: (1) honors U.S. firefighters for their efforts and sacrifices during the summer fire season of 1987; (2) commends those who gave their lives and conveys condolences to their families and loved ones; and (3) expresses gratitude to all firefighters who fought to protect lives and land in the western United States.
United States · United States Congress · 1 October 1987
Corporation for Small Business Investment Charter Act - Amends the Small Business Investment Act of 1958 to establish timetables to govern the promulgation of regulations by the Small Business Administration (SBA) and the qualification of licensees to do business with the Corporation for Small Business Investment and the special-purpose trust established by this Act. Establishes the Corporation for Small Business Investment as a Government-sponsored private corporation. Requires the President to appoint its interim Board of Directors. Sets forth procedures for selection of the permanent Board and describes Board duties. Sets out the Corporation's stock structure. Permits only small business investment companies to hold voting common stock. Requires the Corporation to mandate certain contributions from these companies in order to accumulate capital surplus funds from private sources. Includes depository institutions as eligible contributors entitled to receive stock and dispose of it. Authorizes the Corporation to issue obligations and securities, within prescribed limits. Permits the Secretary of the Treasury to purchase such obligations but sets amount and yield restrictions. Makes all obligations issued by the Corporation acceptable as security for any fiduciary, trust, and public funds controlled by the United States. Exempts Corporation issues from the regulatory framework of the Securities and Exchange Commission. Authorizes the Corporation to issue commitments or otherwise deal in small business investment securities after the permanent Board has been duly constituted. Sets forth the procedure for perfecting a security or ownership interest in small business investment securities created by the Corporation. Authorizes the Corporation to guarantee specified securities. Directs the Corporation to establish criteria, including private capital amount requirements, for the qualification of small business investment companies to conduct business with it. Instructs the Corporation to enter into agreements with small business investment companies, which are authorized to provide equity capital and loans to small businesses. Restricts the financing activities of the investment companies, setting time limits, aggregate securities acquisition limits, and use restrictions with respect to loan funds. Prohibits the Corporation from purchasing or guaranteeing securities in excess of ten percent of its assets. Provides for both financial and compliance audits of small business investment companies. Exempts loans made by small business investment companies from State usury law, unless the State expressly enacts overriding legislation. Directs the Corporation to adopt independent criteria in connection with the qualification of a special type of small business investment company to invest solely in disadvantaged small businesses. Establishes a special-purpose trust to benefit special small business investment companies. Provides for its operation in accordance with a trust agreement with the Corporation. Sets forth procedures for appointing the trustees. Requires the trustees to establish separate accounting for all preferred securities, debentures, loss reserves, and other funds acquired and to make an annual accounting of trust operations to the Secretary of the Treasury. Sets forth the powers of the trustees. Provides for SBA conveyance to the Corporation of all right, title, and interest to all securities and outstanding debentures issued by small business investment companies that are not in liquidation. Requires the trust to apply all of the funds held in trust and income to: (1) cover any losses realized on debentures purchased or guaranteed by the Corporation; (2) reduce the interest rate on debentures issued by special small business investment companies or purchase their preferred securities; and (3) pay administrative costs. Authorizes the trustees to purchase preferred securities and the Corporation to purchase or guarantee the payment of principal and interest on debentures issued by special small business investment companies. Sets forth the terms and conditions for these purchases. Authorizes a special small business investment company to request that the Corporation purchase or guarantee its debentures. Provides that such debentures shall be subordinate to any other obligations of such companies. Sets forth restrictions on the interest rate on and total amount of such debentures. Requires that all outstanding preferred securities purchased by the trust from special small business investment companies be redeemed and transferred to the Treasury 50 years after the effective date of this Act. Gives the SBA review authority over the Corporation and requires annual reporting in connection with this review. Mandates an annual independent audit of the Corporation's accounts, with reporting to the Secretary of the Treasury, who must subsequently report to the President and to the House and Senate Small Business Committees. Subjects Corporation books and records to audit by the General Accounting Office and by the Office of the Inspector General of the SBA under specified conditions. Requires annual Corporation reporting to the President, the SBA, and relevant congressional committees. Directs the Secretary of the Treasury to sell to the Corporation on September 30, 1988, all the right and interest in small business investment company securities guaranteed by the SBA and held by the Federal Financing Bank, providing such securities are due in FY 1989 or later. Sets a minimum final purchase price of $720,000,000, a specified amount of which must be in preferred stock in the Corporation. Requires the Secretary of the Treasury to propose a sale price for the securities that the Corporation is to purchase. Sets forth procedures for determining the purchase price if the Board finds the Secretary's proposal unacceptable. Establishes criteria to govern the preferred stock issued by the Corporation as part of the purchase price. Directs the Corporation to issue to the SBA warrants to purchase nonvoting common stock equivalent to a 28 percent interest in the Corporation. Requires the Corporation to report, within 30 days of the completion of the purchase of the securities, to the House and Senate Committees on Small Business. Prohibits the SBA from: (1) making any payments to the Department of the Treasury on debentures guaranteed under the Small Business Investment Act after they are sold to the Corporation; or (2) selling or encumbering loans or debentures it has made or issued, except as specified in this Act. Requires the General Accounting Office, by January 1, 1993, to prepare a report for the House and Senate Small Business Committees on the Corporation's effectiveness in achieving the purposes of this Act.
United States · United States Congress · 1 October 1987
Designates November 7, 1987, as The Memorial Day for Victims of Communism.
United States · United States Congress · 29 September 1987
Financial Services Holding Company Act of 1988 - Defines a certified financial services holding company (CFSHC) as any company that: (1) has been certified in accordance with the provisions of this Act; (2) owns a bank holding company; (3) engages, through subsidiaries that are separate from its bank holding subsidiaries, in specified "financially-related" activities; (4) does not engage in activities other than managing, controlling, or providing services to its subsidiary bank holding companies or its subsidiaries engaged in "financially-related" activities; (5) insulates its banks in accordance with the provisions of the Federal Reserve Act; and (6) is not controlled by another company (unless that company is primarily engaged in financial services outside of the United States or engaged solely in managing, controlling, or providing services for a certified financial holding company within the United States). Establishes procedures for the certification of financial services holding companies. Requires any company seeking such certification to submit a notice to the Federal Reserve Board. States that certification shall become effective within 30 days following the receipt of the notice by the Board, unless: (1) certification is denied; or (2) the approval period is extended an additional 30 days. States that certification may be denied if the company: (1) engages in activities which are not "financially-related"; or (2) is controlled by another company (with specified exceptions). Requires any CFSHC seeking to establish or acquire an additional bank holding company to follow specified procedures of the Bank Holding Company Act of 1956 and the National Housing Act. Allows the Board to disapprove a proposal for such acquisition if the proposed acquisition or new activity would cause the CFSHC to fail to meet the activity limitations of this Act. Allows the Board to establish: (1) periodic reporting requirements; and (2) penalties for violations of this Act. Establishes procedures for the judicial review of Board actions. Makes conforming amendments to the Bank Holding Company Act of 1956. Amends the Banking Act of 1933 to exempt CFSHCs from specified prohibitions regarding securities. Amends the National Bank Act to permit national banks to offer portfolio investment services. Allows national banks to engage in the following activities: (1) insurance agency or brokerage; (2) real estate brokerage and related services; (3) home ownership and financial counseling; (4) tax return preparation and tax planning; (5) armored car services; (6) check guaranty and collection services; (7) credit bureau services; and (8) operating a travel agency. Designates the Federal Reserve Board as the appropriate Federal regulator of a bank service corporation which engages in such activities. Preempts inconsistent State laws. Amends the Bank Service Corporation Act to authorize an FDIC-insured bank to invest up to three percent of its assets in a bank service corporation. Raises a bank's aggregate permissible investment in bank service corporations to 15 percent. Allows any bank service corporation to engage in any activity which: (1) is authorized by the Board; or (2) is newly authorized under the Financial Services Holding Company Act. Subjects bank service corporations to: (1) Federal Reserve Board Authority; and (2) antitrust standards. States that the mandatory sharing provisions of the Bank Service Corporation Act only apply to service corporations which provide services to nonshareholders. Amends the National Housing Act to provide that a CFSHC shall not be considered to be a savings and loan holding company (except for the purposes of acquiring a savings and loan).
United States · United States Congress · 21 September 1987
Requires U.S. coins to be redesigned, at the discretion of the Secretary of the Treasury, over the next six years. Requires the reverse side of the first coin redesigned to commemorate the bicentennial of the U.S. Constitution for a two-year period. Requires that any profits from the sale of uncirculated and proof sets of U.S. coins be deposited in the Treasury and used solely to reduce the national debt.