United States · United States Congress · 6 January 1987
Federal Performance of Commercial Activities Improvement Act of 1987 - Requires Federal agencies to procure supplies and services from private sector sources, unless: (1) the supplies or services are required to be provided by an agency under a law which specifically supersedes this Act; (2) the provision of such supplies or services is a Government function; or (3) the head of an agency certifies to the Congress that the Government should provide such supplies or services in the interest of national security or cost effectiveness. Requires agencies to report to the Congress annually on cost savings resulting from provisions of this Act. Requires the Director of the Office of Management and Budget to report to the Congress within one year of enactment of this Act on: (1) the implementation of such Act identifying cases where agencies can be, cannot be, or are engaged in the procurement of services from the private sector; and (2) a five-year schedule for the completion of required cost comparisons between private sector sources and agency sources. Requires the Director annually to review agency compliance under such schedule and report results to the Congress.
United States · United States Congress · 6 January 1987
Financial Services Competitive Enhancement Act of 1987 - Amends the Banking Act of 1933 to: (1) allow a member bank of the Federal Reserve System to be affiliated with a depository institution securities affiliate or with a bank service corporation engaged in activities permissible for a depository institution securities affiliate; and (2) permit an officer, director, or employee of a member bank to serve at the same time as an officer, director, or employee of such an affiliate or corporation. Amends the National Bank Act to authorize national banks to: (1) provide portfolio investment advisory, management, information, forecasting, and research services to individual and institutional customers in combination with or separate from the purchase or sale of securities for such customers; (2) engage in activities consisting of insurance agency or brokerage, real estate brokerage or related services, homeownership and financial counseling, tax return preparation and tax planning, armored car services, travel agency services, or check guarantee, collection agency, or credit bureau services; and (3) invest in tangible personal property for rental or sale, provided such investment does not exceed ten percent of the bank's assets. Authorizes the Comptroller of the Currency to permit national banks to exercise any powers granted to, or to conduct any activities permitted for: (1) Federal savings and loan associations; or (2) State banks in the State in which the national bank is headquartered. Amends the Bank Holding Company Act to define, for purposes of such Act; (1) "depository institution securities affiliate" as any corporation that engages in the United States in the activities of such an affiliate, a broker, or a dealer under the Securities Exchange Act of 1934, or an investment adviser under the Investment Advisers Act of 1940; (2) "depository institution holding company" as a bank holding company; (3) "depository institution" as a bank; and (4) "insured institution" as defined under the National Housing Act. Provides that provisions prohibiting any action that causes a company to become a bank holding company shall not apply where: (1) the company provides 30 days' notice to the Federal Reserve Board; (2) the company acquires control of a bank through a reorganization in which persons exchange their shares of the bank for the same proportional share interest in a newly formed bank holding company; (3) such bank holding company meets capital and financial standards prescribed by the Board and does not conduct activities other than banking or managing and controlling banks or related financial activities. Permits a bank holding company to acquire and retain ownership or control of shares of any company or insured institution the activities of which consist of: (1) financial activities related to banking or managing or controlling banks; (2) insurance underwriting, agency, or brokerage activities; or (3) real estate investment, development, brokerage, or related services. Prohibits a bank holding company from engaging in authorized activity de novo or by acquisition unless it provides the Board 60 days' notice and the Board does not, within such 60 days, issue an order disapproving the proposal or suspending the 60-day period in order to obtain more information. Permits the Board to provide for no notice requirement, or for a shorter notice period, with respect to particular activities. Includes among the criteria the Board may consider in evaluating such a notice: (1) the managerial, technical, and financial resources of the companies involved; (2) any practice that may adversely affect the impartiality of an affiliated bank in the provision or terms of credit or other services; (3) any material adverse effect on the safety and soundness or financial condition of an affiliated bank; and (4) whether any acquisition would substantially lessen competition or tend to create a monopoly. Requires the Board to approve such a notice with appropriate limitations, restrictions, or conditions that could cure deficiencies which otherwise would result in disapproval of the notice. Prohibits the Board from limiting, restricting, or conditioning the authority under Federal or State law of an insured institution, or an affiliate or subsidiary thereof, acquired by a bank holding company. Directs the Board, in the case of notice disapproval, to explain why notice deficiencies could not be cured by limitations, restrictions, or conditions. Permits a bank holding company to obtain judicial review of a Board order approving a notice with limitations, restrictions, or conditions. Directs the Board, under specified guidelines, to promulgate regulations designating particular financial activities that are reasonably or functionally related to banking or managing or controlling banks. Applies restrictions on interstate acquisitions by bank holding companies under the Bank Holding Company Act to acquisitions of insured institutions, except for emergency acquisitions. Allows any insured institution that becomes a bank holding company subsidiary to retain its existing branches, but limits its future branches to locations where a national bank may establish branches. Permits the Board to dispense with notice and hearing requirements for any application for an acquisition of a thrift institution in an emergency. Permits a bank holding company to acquire shares of any insurance company and engage in any insurance activity notwithstanding any State laws, but subjects such insurance company to State examination, supervision, and licensing requirements. Permits a bank holding company, subject to requirements concerning providing notice to the Board, to acquire and retain ownership or control of: (1) any depository institution securities affiliate which may conduct specified securities activities; (2) any company engaged in any activity in which a multiple savings and loan holding company was authorized to engage directly on the date of enactment of this Act; (3) any company providing homeownership and financial counseling; (4) any company in the business of preparing tax returns and tax planning; (5) any company providing armored car services; (6) any company providing check guaranty, collection agency, or credit bureau services; or (7) any company providing travel agency services. Subjects Board orders regarding bank holding company acquisitions to judicial review solely on questions relating to any Board finding: (1) that a proposed activity is permissible for a bank holding company; and (2) regarding a substantial lessening of competition or tendency to create a monopoly. Prohibits the reviewing court from staying the Board's order approving such acquisition pending judicial review or overturning the Board's findings, unless demonstrated to be plainly in error and at variance with the facts. Permits the court to assess litigation fees against any party that petitions for judicial review if the court finds such petition to be nonmeritorious. Sets forth reporting and examination requirements for nonbank subsidiaries of bank holding companies. Provides for the use of reports required by other statutes or agencies. Prohibits any State from prohibiting the affiliation of a national banking association with a depository institution securities affiliate or other company in which a bank holding company may acquire an interest under this Act. Amends the Bank Service Corporation Act to permit a Federal Deposit Insurance Corporation-insured bank to invest up to three percent of its total assets (currently, ten percent of paid-in and unimpaired capital and unimpaired surplus) in one bank service corporation and up to 15 percent (currently, five percent) of its total assets in bank service corporations overall. Permits a bank service corporation to engage in nonbanking activities permitted for bank holding companies, except for those of an insured institution. Subjects investment by an insured bank in, and the performance of nonbanking activities by, a bank service corporation to the notice requirements, evaluation criteria, Board order provisions, judicial review procedures, reporting and examination requirements, and antitrust standards applicable to acquisitions and the performance of nonbanking activities by bank holding companies. Provides that provisions prohibiting a corporation from discriminating in the provision of services to nonstockholding institutions shall apply only to corporations which provide services to any nonstockholding institution. Designates the Board as the appropriate regulatory agency of a bank service corporation engaged in such nonbanking activities. Amends the Federal Reserve Act to exempt from provisions restricting transactions between member banks and their affiliates purchases of assets having a readily identifiable and available (currently, publicly available) market quotation when the purchases are made at the market quotation price. Amends the Federal Deposit Insurance Act to authorize the Board to bring cease-and-desist proceedings against a bank holding company's nonbank subsidiary for activity which may: (1) affect the safety and soundness of any bank owned or controlled by the holding company; or (2) violate any banking law, rule, regulation, or order.
United States · United States Congress · 6 January 1987
Declares that the United States: (1) condemns the seven years of Soviet aggression against the Afghan people; and (2) urges the conclusion of a negotiated political settlement based on the complete withdrawal of foreign troops, restoration of the independent status of Afghanistan, self-determination for the Afghan people, and the safe return of the Afghan refugees.
United States · United States Congress · 6 January 1987
Establishes the Joint Committee on Intelligence. Declares that such committee has exclusive legislative jurisdiction with respect to any intelligence activity of the Federal Government and authorizations for appropriations for specified agencies and intelligence-related activities. Directs the joint committee to classify its information and records and to establish guidelines for their maintenance, use, and availability. Sets forth procedures for the disclosure of such information. Directs the joint committee to establish and carry out rules and procedures necessary to prevent the unauthorized disclosure of information. Makes conforming amendments to the National Security Act of 1947 and the Rules of the House of Representatives, including abolishing the Permanent Select Committee on Intelligence.
United States · United States Congress · 6 January 1987
Constitutional Amendment - Allows the President an item veto of appropriations bills. Requires the President, in signing such a bill, to designate the provisions disapproved and return the bill to the House in which it originated. Subjects such bills to the same proceedings as other bills disapproved by the President.
United States · United States Congress · 6 January 1987
Amends rule XV of the Rules of the House of Representatives to prohibit the House from passing or adopting any bill or joint resolution making appropriations or providing revenue except by a rollcall vote.
United States · United States Congress · 9 October 1986
Denies most-favored-nation treatment to imports from Yugoslavia unless, within ten days of enactment of this Act, the President reports to the Congress that Yugoslavia has released all U.S. citizens who have been detained without justification and that Yugoslavia has ceased to implement a program which results in such unjustified detainment of U.S citizens. Requires such denial of most-favored-nation treatment, if it goes into effect, to remain in effect until such conditions are met.
United States · United States Congress · 7 October 1986
Housing Income Verification Act of 1986 - Authorizes the Secretary of Housing and Urban Development to require Department of Housing and Urban Development (HUD) program applicants or participants to: (1) disclose their social security or employer identification numbers; and (2) consent to wage information verification. Amends the Social Security Act to provide HUD with access to State employment records. Requires State administering agencies to independently verify such information before terminating or reducing any housing benefits. Establishes criminal and civil penalties for misuse of such information.
United States · United States Congress · 2 October 1986
Affirms the intent of the Ninety-ninth Congress to oppose any increase in individual or corporate tax rates, or the reduction or elimination of deductions and credits without corresponding tax rate reductions. Calls upon the One hundredth Congress to adopt such a policy.
United States · United States Congress · 29 September 1986
Value Engineering Council Act of 1986 - Defines "value engineering" as any scientific method used to analyze and redesign programs, products, and services to maximize productivity and minimize costs. Establishes the Value Engineering Council in the Office of Management and Budget. Directs the Council to: (1) conduct research to determine programs, products, or services of, or acquisitions by executive agencies, where cost reduction and increased productivity would result from the application of value engineering, particularly with regard to defense procurement matters; (2) advise executive agencies and private industries concerning the feasibility and cost benefits of value engineering; (3) provide study materials and technical assistance regarding value engineering to educational institutions; and (4) promote the use of incentives to encourage value engineering and the formulation of awards for value engineers who either propose accepted value engineering change proposals or effectively administer value engineering programs. Requires the Council to report annually to the Director of the Office of Management and Budget and the Congress. Terminates the Council three years after it is first established unless the Director renews the Council. Authorizes appropriations for FY 1987.
United States · United States Congress · 10 September 1986
Declares that the House of Representatives: (1) condemns the Soviet Union for the arrest, imprisonment, and indictment of U.S. foreign correspondent Nicholas Daniloff and demands his unconditional release; (2) urges the Soviet Union to abide by its international obligations to allow journalists to pursue their profession without harassment; and (3) expresses its concern that Daniloff's detention will adversely affect U.S.-Soviet relations, particularly with respect to the upcoming summit between President Reagan and General Secretary Gorbachev.
United States · United States Congress · 9 September 1986
Declares that the House of Representatives: (1) condemns the Soviet Union for detaining U.S. News & World Report foreign correspondent Nicholas Daniloff and demands his immediate release; and (2) urges the President to reject the release of Gennadi Zakharov in exchange for the release of Nicholas Daniloff.
United States · United States Congress · 15 August 1986
Declares that the Congress: (1) calls upon the Soviet Union to cease interference with radio broadcasting, particularly the Voice of America; (2) urges the President to enter into discussions with the Soviet Union with respect to such interference; and (3) calls upon the people of the world to lend their support in this effort.
United States · United States Congress · 14 August 1986
Requests the entertainment industry to: (1) refrain from producing material which glamorizes or encourages the use of illegal drugs; and (2) develop material which encourages the rejection of illegal drug usage.
United States · United States Congress · 11 August 1986
Requires the President to: (1) deploy armed forces equipment and personnel to halt aircraft and vessels carrying narcotics across U.S. borders; (2) deploy radar aircraft for continuous aerial radar coverage of the southern U.S. border during darkness; (3) deploy both rotor and fixed wing aircraft for pursuit and seizure purposes; and (4) use National Guard and Reserve members and U.S. Customs Service and Coast Guard personnel and equipment for purposes of these activities. Prohibits such military personnel from making arrests aboard any aircraft or vessel, unless they are in hot pursuit. Requires the President to withhold Federal funding from any National Guard unit whose State does not cooperate in this drug interdiction program. Requires all program expenses to be borne by the Department of Defense. Requires the President to substantially halt border crossings by narcotic-carrying aircraft and vessels within 45 days after enactment of this Act. Requires the President to: (1) report to the Congress within a specified time; (2) request funds from the Congress for FY 1986 and 1987 for purposes of the program; and (3) submit a request in the budget for the Department of Defense for such funds every year beginning in 1988.
United States · United States Congress · 11 August 1986
Authorizes FY 1987 through 1989 appropriations for an increase in Immigration and Naturalization Service border patrol personnel so that the average personnel level in each such fiscal year is 50 percent higher than the FY 1986 level.
United States · United States Congress · 26 June 1986
Mail Management Improvement Act of 1986 - Requires the Director of the Office of Management and Budget, in consultation with the Administrator of General Services, within 90 days of enactment of this Act, to issue a directive which requires each agency to: (1) evaluate mail operations to eliminate practices resulting in excessive mailing costs; (2) designate an official with the responsibility for the development and implementation of mail management programs; (3) establish mail management objectives and responsibilities; and (4) develop and submit to the Director a mail management plan in accordance with provisions of this Act.
United States · United States Congress · 26 June 1986
Defense Select Consolidations Act of 1986 - Title I: Consolidation and Administration of Depot Level Maintenance - Defines "depot level maintenance facility" as a Department of Defense (DOD) facility in which certain maintenance functions are performed and for which there is an extensive capital investment for the performance of such functions. Directs the Secretary of Defense, no later than 180 days after the enactment of this Act, to designate a single manager in DOD to be responsible for the administration of depot level maintenance facilities. Requires the manager, no later than two years after the enactment of this Act, to develop and implement a plan for the consolidation of: (1) depot level maintenance facilities; and (2) the performance of management functions related to such facilities. Requires such plans to be submitted to both the Secretary of Defense and the Inspector General of DOD. Requires the Inspector General to review such plan and make appropriate comments and recommendations to the Secretary. Directs the Secretary, no later than 90 days before the implementation of the plan commences, to submit the plan, together with the Inspector General's comments, to the Senate and House Armed Services Committees. Outlines the management functions and control to be exercised by the manager. Directs the Secretaries of the military departments to consult with and make budget requests through the manager for the performance of depot level maintenance functions. Title II: Consolidation of Wholesale Depot Facilities - Defines "wholesale depot facility" as a DOD facility that receives, stores, and issues bulk quantities of materials to the ultimate user of the material. Directs the Secretary of Defense, no later than 180 days after the enactment of this Act, to designate a single manager in DOD to be responsible for the administration and operation of wholesale depot facilities. Requires the manager, no later than two years after the enactment of this Act, to develop and implement a plan for the consolidation of: (1) wholesale depot facilities; and (2) the performance of management functions related to such facilities. Requires such plan to be submitted to both the Secretary of Defense and the Inspector General of DOD. Requires the Inspector General to review such plan and make appropriate comments and recommendations to the Secretary. Directs the Secretary, no later than 90 days before the implementation of the plan commences, to submit the plan, together with the Inspector General's comments, to the Senate and House Armed Services Committees. Title III: Consolidation of Base Support Operations - Defines "base support operations" as various services provided in connection with military bases and installations. Directs the military departments to participate in the Defense Retail Interservice Support Program of the Department of Defense (the Program). Directs the Secretary of Defense to: (1) encourage consolidation of base support operations under the Program in all geographic areas in which there are two or more military installations located within 50 miles of each other; (2) utilize the Program to develop other specified consolidation of base support operations; and (3) submit to the Congress each year, at the same time the President's budget is submitted, the cost of base support operations performed under contract and a summary of planned actions to consolidate and reduce the cost of such operations. Title IV: Unification of Traffic Management - Directs the Secretary of Defense, no later than one year after the enactment of this Act, to establish a unified traffic management command to assume all traffic management functions assigned to the Military Traffic Command, the Military Sealift Command, and the Military Airlift Command. Requires the Secretary, within 180 days after the enactment of this Act, to develop and transmit to the Senate and House Armed Services Committees a plan to establish the unified traffic management command. Repeals a provision of the Department of Defense Authorization Act, 1983 which prohibits the consolidation of the military transportation commands.
United States · United States Congress · 26 June 1986
Federal Performance of Commercial Activities Improvement Act of 1986 - Requires Federal agencies to procure supplies and services from private sector sources, unless: (1) the supplies or services are required to be provided by an agency under a law which specifically supersedes this Act; (2) the provision of such supplies or services is a government function; or (3) the head of an agency certifies to the Congress that the Government should provide such supplies or services in the interest of national security or cost effectiveness. Requires agencies to report to the Congress annually on cost savings resulting from provisions of this Act. Requires the Director of the Office of Management and Budget to report to the Congress within one year of enactment of this Act on: (1) the implementation of such Act identifying cases where agencies can be, cannot be, or are engaged in the procurement of services from the private sector; and (2) a five-year schedule for the completion of required cost comparisons between private sector sources and agency sources. Requires the Director annually to review agency compliance under such schedule and report results to the Congress.
United States · United States Congress · 26 June 1986
Defense Transportation Bill Audit Improvement Act of 1986 - Amends Federal law relating to claims against the Government to require the Administrator of General Services to delegate to the Secretary of Defense the authority to audit bills for the transportation of individuals and property of the Department of Defense. Directs the Secretary of Defense, whenever practicable and economically desirable, to enter into contracts with private firms for the auditing of such transportation bills.
United States · United States Congress · 26 June 1986
Federal Credit Management and Debt Collection Improvements Act of 1986 - Establishes in the Department of the Treasury an Under Secretary of the Treasury for Debt Collection and Credit Management, who shall be appointed by the President, by and with the consent of the Senate. Sets forth the functions of the Under Secretary with respect to establishing and implementing a comprehensive Federal debt collection and credit management plan. Directs the Comptroller General to report to the Congress an analysis of such plan, together with comments. Requires executive agency proposals for new credit programs to contain an explicit statement of any subsidies involved. Requires interest rates in new direct loan programs to be related to market rates for comparable private sector loan programs. Requires the assessment of loan origination and application fees to defray administrative costs and costs of defaulted loans. Prohibits loans to persons who are delinquent in debt payments to the United States. Sets forth the circumstances under which a person who has defaulted on a prior loan may be allowed another loan. Requires loan contracts to contain default and acceleration clauses. Requires each loan applicant to be provided with a written notice specifying Federal debt collection policies and practices. Directs the President to provide for a study of private sector alternatives to Federal loan programs. Directs the Secretary of the Treasury to establish Federal credit management policies and promulgate regulations to implement this Act. Requires each executive agency to report to the Congress, within one year of enactment of this Act, on its delinquency and default standards. Directs the Comptroller General, within two years of enactment of this Act, to audit agency credit programs. Requires agencies to conform to regulations under this Act and the Federal Claims Collection Act of 1966 (as amended by the Debt Collection Act of 1982) within one year of enactment of this Act. Establishes a collection target amount of $15 billion during the period beginning October 1, 1986, and ending September 30, 1989. Increases an agency's funding when it exceeds its debt collection target, and decreases such funding for not meeting its target. Directs the Secretary of the Treasury to promulgate regulations to assist agencies in developing proposals for debt collection targets. Requires the use of credit bureaus and private collection agencies to recover indebtedness owed the Federal Government. Provides for routine adjustments of Federal pay for non-controversial overpayments. Amends the Internal Revenue Code to authorize agencies to use Internal Revenue Service information in debt collection. Requires the inclusion of debt collection data in the budget process. Directs each agency head to investigate the feasibility and cost effectiveness of selling debts to the private sector. Makes State laws inapplicable with respect to time limitations for bringing legal actions on debts owed to the United States.
United States · United States Congress · 26 June 1986
Defense Technology Data Exchange Improvement Act of 1986 - Directs the Secretary of Defense to promote, monitor, and evaluate programs for the communication and exchange of technological data among all Department of Defense research facilities and other Departmental components. Directs the Secretary to take other specified actions to ensure the efficient operation of various defense research facilities within the Department of Defense and to promote increased consideration of technological issues early in the defense systems development process. Directs the Secretary, within one year after the enactment of this Act, to submit a written report to the Congress concerning actions taken to implement this Act and to improve the management and utilization of defense research facilities.
United States · United States Congress · 26 June 1986
Defense Industrial Reserve Improvement Act of 1986 - Amends the Defense Industrial Reserve Act of 1948 to direct the Secretary of Defense to transfer excess industrial property from the Defense Industrial Reserve to other Government agencies, with reimbursement from such agencies for the use of such property. Directs the Secretary to prescribe general policies and fee schedules for reimbursement of the Department of Defense by Government agencies for the use of such defense industrial reserve equipment.
United States · United States Congress · 26 June 1986
Housing Eligibility Verification Improvement Act of 1986 - Authorizes the Secretary of Housing and Urban Development, in order to strengthen eligibility verification and the proper determination of benefits for housing programs, to: (1) require an applicant or participant to disclose his or her social security or employee identification number; and (2) obtain access to wage and other information from State employment records maintained under the Social Security Act.
United States · United States Congress · 19 June 1986
Designates July 3, 1986, as Let Freedom Ring Day. Requests the President to encourage people to ring bells immediately following the relighting of the torch of the Statue of Liberty.
United States · United States Congress · 18 June 1986
Social Security Administrative and Investment Reform Act of 1986 - Title I: Establishment of the Social Security Administration - Amends title VII (Administration) of the Social Security Act to establish as an independent executive agency a Social Security Administration, headed by a Social Security Board. Provides that it shall be the duty of the Administration to administer the programs established by titles II (Old Age, Survivors and Disability Insurance) and XVI (Supplemental Security Income) of the Social Security Act. Requires the Board to study and make recommendations as to the most effective methods of providing economic security through social insurance and as to legislation and matters of administrative policy. Establishes in the Administration: (1) a Commissioner of Social Security; (2) a Deputy Commissioner of Social Security; (3) a General Counsel; (4) an Inspector General; and (5) an Office of the Beneficiary Ombudsman, to be headed by a Beneficiary Ombudsman who shall represent the interests of beneficiaries under the Old Age, Survivors and Disability Insurance program and the Supplemental Security Income Program within the Administration. Requires the annual report of the Board to include a description of the activities of the Beneficiary Ombudsman. Requires the Board to make annual budgetary recommendations relating to the Administration. Requires that appropriations requests by the Administration for staffing and personnel be based upon a comprehensive workforce plan as established by the Board. Provides for the apportionment of administrative costs. Requires the annual report of the Board to include a section reflecting the use of budget authority provided to the Administration. Requires that authority for automated data processing procurement and facilities construction be provided in the form of contract authority covering the total cost of such acquisitions. Makes amounts needed for the liquidation of contract authority so provided available from the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to the extent that such amounts are not needed to meet current obligations for benefit payments. Requires the Board and the Director of the Office of Personnel Management to implement demonstration projects relating to personnel matters. Directs the Board and the Administrator of General Services to implement such projects relating to delegations from the Administrator. Specifies the authorities which are to be delegated to the Board from the Administrator and the Director. Requires the Comptroller General to report to specified congressional committees concerning such projects, including an evaluation of the Board's readiness to assume full and permanent authority. Requires the Board to cause a seal of office to be made and judicial notice taken thereof. Provides for the transfer to the Administration of all functions carried out by the Secretary of Health and Human Services with respect to the programs and activities to be carried out by the Administration under this Act. Abolishes the position of Commissioner of Social Security in the Department of Health and Human Services. Sets forth effective date and transitional rule provisions. Title II: Conforming Amendments and Rules of Construction - Requires the Secretary and the Board to report to the Congress within 120 days after the beginning of each regular session on their administration under this Act. Requires the Secretary to study and make recommendations on the most effective methods of providing economic security and on the administrative policy for the programs. Directs the Board to appoint, quadrennially, an Advisory Council on the Old-Age, Survivors, and Disability Insurance Program and an Advisory Council on Health and Supplementary Medical Insurance to review the relation of the trust funds supporting the OASDI program and the Medicare program and the long-term commitments of those programs. Requires each council to submit a report to the Board for transmittal to the Congress and the Board of Trustees of each Trust Fund. Title III: Management of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund - Amends the OASDI program to direct the Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (OASDI trust funds) to immediately invest that portion of the OASDI trust funds which is not required for current withdrawals. Requires the investment to be made in accordance with policies established by the Social Security Board. Prohibits the sale and redemption of OASDI trust fund assets or the expenditure of OASDI trust fund amounts for purposes other than those specified in title II of the Act. Requires members of such trust funds' Board of Trustees to faithfully execute their duties, but does not impose a fiduciary duty. Requires that, in consideration of the public debt limit, required investment of trust fund amounts occur prior to the issuance of other obligations. Directs that tax receipts earmarked for the OASDI program be immediately transferred (currently, monthly transfers are made) from the general fund of the Treasury to the OASDI trust funds. Requires the Board of Trustees of the OASDI trust funds to meet at least twice each year. Sets forth provisions requiring reports by the Board of Trustees and the Managing Trustees to the Congress regarding the operation and status of the OASDI trust funds. Title IV: Additional Matters - Amends the OASDI program to prohibit the payment of OASDI benefits to individuals who have been deported pursuant to the Immigration and Nationality Act because of activities conducted under the direction of or in association with the Nazi government of Germany or its allies. Requires individuals to be paid interim benefits in cases where an administrative law judge has determined their entitlement to certain OASDI or SSI (Supplementary Security Income) benefits, but the Secretary's final decision has not been issued within 90 days of the judge's decision. Excludes any representative of the Department of Health and Human Services, the Social Security Administration, any other agency of such department, or an involved State agency from appearing as a party at an OASDI or SSI benefit hearing or participating in the development of the record of such hearing, unless, in the latter case, the presiding officer requests such participation.
United States · United States Congress · 17 June 1986
Amends the National Housing Act to extend authority through FY 1987 for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) homeownership for lower income families including mortgage insurance authority and housing stimulus authority; (5) mortgage co-insurance, including rental rehabilitation and development projects; (6) graduated payment and indexed mortgage insurance; (7) the demonstration mortgage reinsurance program; (8) mortgage insurance for armed forces' civilian employees and defense housing for impacted areas; (9) mortgage insurance for land development; and (10) mortgage insurance for medical and dental group practice facilities. Sets forth specified limits on FY 1986 and 1987 insured housing loans and on FY 1987 guaranteed mortgage-backed securities. Amends the Housing Act of 1964 to extend urban rehabilitation loan authority through FY 1987. Amends the Housing Act of 1949 to extend Farmers Home Administration authority through FY 1987 for: (1) insured loans for rental and cooperative housing and related facilities for elderly persons and families in rural areas; (2) rural communities with 10,000 to 20,000 population to participate in rural housing programs; and (3) mutual and self-help housing grant and loan authority. Amends the National Flood Insurance Act of 1968 to extend authority for national flood insurance, including emergency implementation and flood-risk zones through FY 1987. Amends the National Housing Act to extend authorities for the national crime insurance program and existing contracts through FY 1987. Amends the Housing and Community Development Act of 1974 to extend community development block grant entitlement authority for certain metropolitan city and urban county areas through FY 1987. Amends the Housing and Urban-Rural Recovery Act of 1983 to extend for 30 days the maximum interest rate limitation on loans for housing and related facilities for elderly or handicapped families through FY 1987. Extends the Home Mortgage Disclosure Act through FY 1987.
United States · United States Congress · 12 June 1986
Corporation for Small Business Investment Charter Act - Amends the Small Business Investment Act of 1958 to include in the terms "small business investment company," "company," and "license" any company that is qualified to conduct business with the Corporation for Small Business Investment. Defines "small business concern" with respect to the Small Business Investment Act of 1958. Sets forth procedures for the qualification of small business investment companies (licensees) to conduct business with the Corporation for Small Business Investment and the termination, suspension, or revocation of the license of such companies that do not qualify under the provisions of this Act. Establishes the Corporation for Small Business Investment. Requires the President, within 60 days after enactment of this Act, to appoint an interim Board of Directors of the Corporation. Authorizes the Corporation to issue common and preferred stock and certain other obligations to small business investment companies. Authorizes the Secretary of the Treasury to purchase obligations issued by the Corporation. Exempts from U.S. securities laws all stocks and obligations issued by the Corporation. Deems the Corporation to be a U.S. agency. Authorizes the Corporation to: (1) make loans to small business investment companies; (2) purchase preferred securities, debentures, and guarantee debentures issued by such companies; and (3) act as issuer of such securities. Requires the Corporation to establish criteria for the qualification of: (1) small business investment companies to conduct business with such Corporation; and (2) special small business investment companies whose investments will be made solely in disadvantaged small businesses. Establishes a special-purpose trust for the benefit of special small business investment companies. Authorizes: (1) the trustees to purchase preferred securities; and (2) the Corporation to purchase or to guarantee debentures issued by special small business investment companies. Permits the purchase of ownership interests in small business investment companies by national banks. Authorizes small business investment companies to: (1) purchase stock issued by the Corporation; (2) borrow money; and (3) issue debenture bonds, promissory notes, or other obligations under conditions as prescribed by the Corporation. Authorizes the Corporation to enter into agreements regarding the operation of small business investment companies. Authorizes small business investment companies to provide equity capital and loans to small businesses. Requires the Corporation to adopt rules on conflicts of interest which may be detrimental to: (1) small businesses; (2) small business investment companies; or (3) the Corporation. Provides that the Small Business Administration shall have review authority over the Corporation. Requires the accounts of the Corporation to be audited annually. Requires a report of each audit to be: (1) furnished to the Secretary of the Treasury; and (2) made by the Secretary to the President and the Small Business Committees of the Congress not later than six months following the close of each fiscal year. Requires the Corporation, after the end of each fiscal year, to transmit to the President, the Small Business Committees of the Congress, and the Small Business Administration a report of its operations and activities during each year. Transfers to the Corporation all title to small business investment company securities that are guaranteed by the SBA and held by the Federal Financing Bank.
United States · United States Congress · 3 June 1986
Depository Institution Examination Improvement Act of 1986 - Redesignates the Financial Institution Examination Council as the Depository Institutions Examination Council. Directs the Council to: (1) divide the continental United States into regions approximating the districts of the Federal depository institutions regulatory agencies; (2) study and report to such regulatory agencies annually on the amounts of compensation and benefits provided to private sector accountants, auditors, and other representatives of financial service industries in each region who perform functions similar to those performed by Federal examiners; and (3) prepare guidelines for such agencies which would ensure adequate compensation for living and travel expenses for any Federal examiner who is temporarily assigned outside of his or her regular region of employment. Requires such report to be considered in the establishment and approval of Federal examiner compensation. Repeals provisions requiring the Secretary of the Treasury's approval of examiners appointed by the Comptroller of the Currency. Provides that specified civil service laws concerning employment and retention, performance, pay and allowances, and retirement shall not apply to any Federal depository institutions regulatory agency or any officer or employee thereof. Defines such an agency as the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank Board (FHLBB), the Federal Savings and Loan Insurance Corporation (FSLIC), and the National Credit Union Administration (NCUA). Provides that the estimated expenditures and receipts of such entities (excluding the Federal Reserve Board) included in the annual Federal budget submitted to the Congress by the President shall be submitted to the President before October 16 of each year and included in the President's budget without change. Exempts such entities from fiscal, budget, appropriation, and fund apportionment requirements. Amends the Balanced Budget and Emergency Deficit Control Act (Gramm-Rudman-Hollings Act) to exempt from reduction under any sequestration order: (1) assessment funds of the Comptroller of the Currency; (2) the FDIC; (3) the FHLBB; (4) the FHLBB revolving fund; (5) the FSLIC fund of the FHLBB; and (6) the central liquidity facility, the credit union share insurance fund, and the operating fund of the NCUA. Provides that the pay and number of employees of a regulatory agency shall not be subject to any limitation imposed by any executive branch officer outside such agency. Directs the Council to study and report to each regulatory agency on proposals for retirement, disability, and other appropriate benefit programs for agency employees and dependents. Requires each agency, within 18 months after enactment of this Act, to establish a retirement and disability program or to consider modifying any existing program on the basis of the Council's recommendations. Permits each agency to establish other employee benefit programs. Provides for the transfer of accrued employee and employer contributions and interest therein from the Civil Service Retirement and Disability Fund to the agency employee retirement and disability program. Subjects the FHLBB, the Federal Home Loan Banks, the FSLIC, and the NCUA to audits by the Comptroller General. Establishes the FSLIC as a mixed-ownership Government corporation (currently listed as a wholly owned Government corporation). Repeals specified authority of the Treasury to approve actions and appoint staff of the Comptroller of the Currency. Directs the Council to: (1) develop a proposal for consolidating all Federal examiner training programs in one school to be established and conducted by the Council; and (2) report to specified congressional committees on its findings, legislative recommendations, and the savings to the regulatory agencies that would result from such consolidation. Requires the Council to: (1) study the feasibility of establishing a graduate degree program in financial management analysis for officers and employees of the regulatory agencies and the State depository institutions' supervisory agencies (State agencies); and (2) report to specified Congressional committees on its findings, legislative recommendations, the cost of establishing and conducting the program, and on the approval or disapproval by each regulatory agency of the Council's proposal for such program. Requires the Council to establish minimum requirements for examinations of depository institutions by State agencies in order for such an examination to be acceptable for purposes of Federal law. Prohibits such requirements from exceeding the minimum standards in effect for Federal examiners. Directs the Council: (1) at least annually, to request each State agency which examines institutions subject to Federal examination to allow the Council to review its examination methods; (2) to notify a State agency if its examination methods do not satisfy such minimum requirements and allow the agency not more than three years to cure any deficiency; and (3) to notify each Federal regulatory agency if a State agency refuses to allow a review of its examination methods or fails to remedy any deficiency in its methods. Prohibits any Federal regulatory agency or any regional bank, branch, or other office of such Federal agency from relying on any report of examination by a State agency for which such a notice has been received to fulfill an examination requirement under Federal law. Permits the Council to limit the scope of a notice to: (1) a separate branch or department of a State agency which has authority to conduct examinations; or (2) a State agency's capacity to examine a particular type of depository institution. Requires the FDIC, the FHLBB, the FSLIC, and the NCUA Board to accept any report of examination made by a State agency which meets the minimum requirements as determined by the Council, unless any such entity determines that the State agency does not meet such minimum requirements and notifies the State agency of the reason for such entity's refusal to accept such agency report.
United States · United States Congress · 21 May 1986
Consumer Products and Financial Services Equity Act of 1986 - Title I: Depository Institution Holding Company Securities Subsidiaries - Amends the Bank Holding Company Act of 1956 and the National Housing Act to permit a bank holding company or a multiple savings and loan holding company to acquire a securities subsidiary the formation or acquisition of which by the holding company has been approved by the Board of Governors of the Federal Reserve System (Board) or the Federal Savings and Loan Insurance Corporation (FSLIC), respectively. Defines a securities subsidiary as any company which is a subsidiary of a holding company and which is authorized to conduct business as a securities broker, dealer, or underwriter, an investment company, or an investment adviser. Prohibits a holding company from establishing a securities subsidiary unless it provides advance written notice to, and obtains the approval of, the Board or FSLIC. Limits the securities activities of such a subsidiary. Provides for the termination of a holding company's control of a securities subsidiary if: (1) the subsidiary engages in unauthorized securities activities; (2) the Board or FSLIC determines that continued control threatens the safety and soundness of a bank or insured institution controlled by such holding company; or (3) the Board or FSLIC approves a recommendation by the Securities and Exchange Commission that such control be terminated. Amends the Banking Act of 1933 to permit a member bank of the Federal Reserve System to be an affiliate of a securities subsidiary. Permits an officer, director, or employee of such member bank to serve as an officer, director, or employee of an affiliated securities subsidiary. Title II: Regulation of Consumer Banks - Consumer Bank Act of 1986 - Amends the Bank Holding Company Act of 1956 to redefine a "bank" to include any institution which is insured by the Federal Deposit Insurance Corporation (FDIC) or which makes commercial loans and accepts demand deposits or other deposits withdrawable by check or similar means for payment to third parties. Excludes from such definition: (1) any foreign bank having an insured or uninsured branch in the United States; (2) mutual savings banks, savings banks, credit unions, thrifts, and savings and loan associations which are federally insured or eligible to apply for such insurance; (3) consumer banks or industrial banks, Morris Plan banks, and industrial loan companies which do not both make commercial loans and accept deposits that depositors may withdraw on demand; and (4) certain trust companies, the FDIC-insured deposits of which are not marketed through an affiliated company and which do not obtain payment or payment-related services from any Federal Reserve bank or exercise Federal Reserve discount or borrowing privileges. Lists the requirements of a "consumer bank" which include: (1) a prohibition against making commercial loans; (2) a requirement to maintain investments in specified types of consumer loans; and (3) a requirement to make available in a State an aggregate amount of loans equal to 65 percent of the consumer deposits held by such institution which were received in such State. Defines a "commercial loan" as any loan or extension of credit for commercial, agricultural, or cultural purposes. Applies typing arrangement provisions of the Bank Holding Company Act of 1956 to consumer banks and consumer bank holding companies. Applies the Community Reinvestment Act to consumer banks. Prohibits consumer banks from selling any product or service that a national bank may not sell. Requires the Board to notify a company that operates a depository institution as a consumer bank or seeks to acquire a depository institution to operate as a consumer bank if such company is or would be a bank holding company because such institution does not or will not qualify as a consumer bank. Prohibits the company from being treated as a bank holding company: (1) for 120 days following such notice; or (2) after such 120 days if the company shows that the institution qualifies or will qualify as a consumer bank. Sets forth procedures by which the Board may issue a cease and desist order to the parent company of a consumer bank concerning an activity or the ownership or control of a nonbank subsidiary which constitutes a serious actual risk to the financial safety, soundness, or stability of the consumer bank and is inconsistent with sound banking principles. Provides that a State may not prohibit the affiliation of a bank or any other institution with a consumer bank. Amends the Federal Reserve Act to provide that for purposes of such Act an extension of credit by a member bank of the Federal Reserve System to a holder of a credit card issued by such bank to finance the purchase of any good or service from a bank affiliate shall not be considered as a transaction with an affiliate if the credit card can be used by the holder for purchases from any person that is not a bank affiliate.
United States · United States Congress · 7 May 1986
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to replace the requirement that there be a least a three-percent rise in the Consumer Price Index before a cost-of-living adjustment of benefits is made with a requirement that such an adjustment be made whenever the cost of living increase is greater than zero.
United States · United States Congress · 29 April 1986
Declares that the House of Representatives calls upon the President to open multilateral negotiations aimed at opening all nuclear power reactors of the world for safety inspection by the International Atomic Energy Agency.
United States · United States Congress · 29 April 1986
Declares that the House of Representatives: (1) condemns the Soviet Union's failure to provide notification and information about the nuclear accident at Chernobyl; and (2) calls upon the Soviet Union to permit outside nuclear experts to assist with the accident and to allow the international press corps to cover the situation.
United States · United States Congress · 23 April 1986
Amends Federal armed forces provisions to direct the Secretary of the military department concerned to conduct an independent operational test and evaluation with respect to a major defense acquisition program under which a major system is to be acquired. Requires such test and evaluation to be conducted before the program may proceed into the production stage. Requires side-by-side testing as part of such test and evaluation. Requires the Director of Operational Test and Evaluation to independently analyze the results of each such operational test and evaluation, and to report such analyses to the Secretary of Defense. Prohibits the operational testing to be conducted until the Director approves in writing the adequacy of the plans for such operational test and evaluation. Authorizes the Secretary of Defense or the Secretary concerned to contract for low-rate initial production of a program only for the purpose of acquiring items for use in operational tests and evaluations. Prohibits a final decision from being made to proceed with full production of a program until 30 days after the congressional defense committees have received the report of the Director. Authorizes the President to suspend any provision of this Act in time of a declared war.
United States · United States Congress · 17 April 1986
Anti-Terrorism Act of 1986 - Declares that any person who organizes, attempts, commits, procures, or supports acts of terrorism shall be considered to have committed an act of aggression against the United States and may be pursued with deadly force. Defines terrorism to mean activity directed against U.S. persons which: (1) is committed by a non-U.S. national or permanent resident alien; (2) involves violent or dangerous acts which would be crimes in the United States; and (3) is intended to intimidate a civilian population, to influence government policy, or to affect the conduct of a government by assassination or kidnapping. Authorizes the President, subject to the provisions of the Constitution, to protect U.S. persons from terrorism through the use of all antiterrorism and counterterrorism measures that the President deems necessary. Requires the President's authority to apply: (1) to all terrorists wherever they may be; and (2) until the President determines that no terrorist poses a threat to U.S. persons. Prohibits this Act from being construed as granting any authority to use deadly force within the United States which would not exist in the absence of this Act. Requires the President to report to the Congress within ten days of taking any action under this Act.
United States · United States Congress · 17 April 1986
Establishes the Commission on the Liability Insurance Crisis to study: (1) the current financial condition of the insurance industry, including the economic factors that affect the crisis in the availability and affordability of insurance for businesses and municipalities; and (2) the relationship between State tort law and such crisis. Requires the Commission to submit a report to the Congress. Terminates the Commission 60 days after the submission of such report.
United States · United States Congress · 17 April 1986
Small Business Act of 1986 - Title I: Findings - Sets forth the findings of this Act. Title II: Transfers to the Department of Commerce - Transfers to the Secretary of Commerce all functions, powers, and duties of the Small Business Administration (SBA) under specified provisions of the Small Business Act and the White House Conference on Small Business Authorization Act. Transfers from the SBA to the Department of Commerce the Office of Advocacy. Title III: Transfers to the Department of the Treasury - Transfers to the Secretary of the Treasury all rights, outstanding obligations, and assets of the SBA with respect to guaranteed loans and debentures and other specified guarantees made by the SBA to small businesses under the Small Business Act and the Small Business Investment Company Act of 1958. Authorizes and directs the Secretary of the Treasury to purchase from the Federal Financing Bank all notes, bonds, debentures, or other obligations held by such bank that are guaranteed by the SBA. Transfers to the Secretary of the Treasury the regulatory authorities of the SBA with respect to small business investment companies and minority enterprise small business investment companies under the Small Business Investment Company Act of 1958. Terminates such authorities upon the disposition of specified loans, debentures, or equity securities by the Secretary of the Treasury. Title IV: Termination of Functions Under the Small Business Act and the Small Business Investment Company Act of 1958 - Terminates on October 1, 1986, various provisions of the Small Business Act and the Small Business Investment Company Act of 1958. Title V: Miscellaneous Amendments and Repeals of Other Laws - Makes various conforming amendments and repeals specified provisions of Federal law relating to the SBA and the provisions of this Act. Title VI: General Administrative Provisions - Authorizes the Secretary of Commerce and the Secretary of the Treasury to exercise and, where appropriate, to delegate any authority that is transferred from the SBA to them by this Act. Establishes in the Department of Commerce a Small Business Administration which shall be headed by an Under Secretary of Commerce. Authorizes any unobligated funds that remain at the end of FY 1986 in the Disaster Loan Fund account to be transferred to the Business Loan and Investment Fund. Authorizes appropriations. Title VII: Transitional, Savings, and Conforming Provisions - Provides for the transfer of personnel to the appropriate agency with respect to any functions or authority transferred from the SBA by this Act. Requires the Director of the Office of Management and Budget, in consultation with the Administrator of the SBA, the Secretary of Commerce, and the Secretary of the Treasury, to make such determinations as may be necessary with regard to the functions transferred by this Act. Provides that all orders, determinations, regulations, and licenses that have been issued or granted by the President or an SBA official in the performance of functions that were transferred under this Act and that are in effect on October 1, 1986, shall continue in effect until modified or revoked in accordance with law. Authorizes the SBA from October 1, 1986, to December 31, 1986, to operate for the purpose of winding up its affairs and advising the Departments of Commerce and the Treasury. Prohibits the SBA from conducting any program activities during such period. Terminates the SBA on December 31, 1986.
United States · United States Congress · 17 April 1986
Declares that the House of Representatives, on behalf of the U.S. people, expresses its gratitude to the Government and people of the United Kingdom who assisted the United States in its exercise of self-defense against Libya and in the fight against state-sponsored international terrorism.
United States · United States Congress · 9 April 1986
Bilingual Education Act Amendments of 1986 - Amends the Bilingual Education Act (the Act) to add to the statement of policy the declaration that, regardless of the method of instruction, programs which serve children of limited English proficiency have the equally important goals of developing both academic achievement and English proficiency. Removes a requirement that the Secretary of Education (the Secretary) reserve limited portions of funds under the Act for special alternative instructional programs and related activities. Removes a requirement that the Secretary reserve at least 75 percent of funds under part A (Financial Assistance for Bilingual Education Programs) of the Act for transitional bilingual education programs.
![Official portrait of Rep. Dreier, David [R-CA-26]](https://www.congress.gov/img/member/d000492_200.jpg)