United States · United States Congress · 27 October 1990
Budget Process Reform Act - Title I: Statement of Congressional Purpose - Declares that the purpose of this Act is to facilitate rational, informed, and timely decisions by the Congress. Expresses the sense of the Congress that the Federal budget process should focus the attention of policymakers and the public on the aggregate impact of Federal spending on the economy, and on the tradeoffs that must be made among priorities in order to control overall levels of spending. Declares that the budget process should contain safeguards against delay and inaction, so that temporary shut-downs of the Government may be avoided. Title II: Binding Budget Law - Requires the Congress to enact a binding budget law, in the form of a joint resolution, by April 15 of the calendar year before that in which the fiscal period commences. Requires the budget law to fit on a single page, which sets forth specific budget ceilings in major functional categories. Makes it out of order in the House of Representatives or the Senate to consider any spending bill affecting spending in a major functional category unless and until a joint resolution on the budget is enacted. Amends the Congressional Budget Act of 1974 to prohibit baseline budgeting. Requires the budget to include comparisons of current fiscal year and proposed subsequent fiscal year spending. Title III: Enforcement Mechanisms - Subtitle A: Super majority Required to Break Budget Law - Requires a two-thirds majority vote in the House and the Senate to consider any spending bill prior to the enactment of the budget law. Requires the Congressional Budget Office to provide to the Congress an estimate of the costs in each major functional category of any spending bill as soon as practicable after its introduction. Limits such estimates to those bills likely to result in costs of more than $10,000,000. Requires a two-thirds affirmative vote in the House and the Senate to consider over-budget spending bills. Requires a two-thirds affirmative vote in the House and the Senate to waive any provision of this Act. Subtitle B: Limited Enhanced Rescission Authority - Amends the Impoundment Control Act of 1974 to limit the President's rescission authority to spending that is above the limits of the budget law. Subtitle C: "Blank Check" Appropriations Prohibited - Declares the intent of the Congress to end open-ended, "blank check" appropriations which typically authorize spending "such sums as may be necessary." Requires fixed-dollar appropriations for every account except social security and interest on the debt. Prohibits open-ended appropriations. Requires Executive agencies to adjust benefit levels to ensure that appropriations for entitlement programs are not exceeded. Subtitle D: "Pay As You Go" Requirement for New Spending - Prohibits the Congress from considering any legislation which exceeds the budget ceiling unless it offsets such increased spending with an equal amount of reductions. Requires a two-thirds affirmative vote in the House and the Senate to waive such prohibition. Title IV: Sustaining Mechanism - Makes appropriations to provide for an automatic continuing resolution if for any account an appropriation for a fiscal period does not become law before the beginning of such period. Restricts legislation providing funding to the Committees on Appropriations. Title V: Protection of Social Security - Provides that no reduction in benefits under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act shall be made as a consequence of this Act. Title VI: Timetable - Revises the timetable for the congressional budget process. Title VII: Conforming Amendments - Makes various technical and conforming amendments, including changing references to a concurrent resolution on the budget to references to a joint resolution on the budget. Title VIII: Definitions and Rules of Interpretation - Sets forth definitions for specified terms. Title IX: Effective Date - Declares the effective date of this Act to be January 1, 1991, applicable to fiscal years beginning after September 30, 1991.
United States · United States Congress · 23 October 1990
Designates the room numbered H-235 in the House of Representatives wing of the Capitol as the Lindy Claiborne Boggs Congressional Women's Reading Room.
United States · United States Congress · 16 October 1990
Salutes and congratulates the people of Poland as they commemorate the 200th anniversary of the adoption of the Polish Constitution on May 3, 1991. Directs the Library of Congress to commemorate the anniversary with appropriate ceremonies.
United States · United States Congress · 26 September 1990
Authorizes the President, in order to protect health and safety of human life, to decrease the sequester amounts specified in the order issued August 25, 1990, under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Requires an increase in the sequester amount in other accounts, programs, projects, or activities to the extent amounts were decreased in such order.
United States · United States Congress · 3 August 1990
Provides that a payment or allowance shall be treated as a military housing allowance under the Internal Revenue Code for purposes of the deductibility of mortgage interest and real property taxes, if such payment was provided: (1) to a Federal employee stationed outside the continental United States; and (2) for expenses similar to the expenses for which any military housing allowance is provided.
United States · United States Congress · 2 August 1990
Fairness and Competitive Foreign Income Tax Act of 1990 - Amends the Internal Revenue Code to repeal the limitation to 90 percent of tax applied to the alternative minimum tax foreign tax credit. Requires that both the assets of and the interest paid by foreign affiliates be considered in the process of allocating interest when determining the taxable foreign source income of an affiliated group for purposes of foreign tax credit limitations. Amends source rules with respect to the sales of stock of affiliates. Provides for the treatment of the sale of a foreign partnership interest under separate income limitations relating to income outside the United States and for the treatment of the sale of a partnership interest under source rules. Provides, with respect to subpart F income (types of income generally suited to tax haven activity) of a controlled foreign corporation, that all pre-1987 (post-1962) accumulated deficits shall offset similar subpart F income earned after 1986. Amends foreign tax credit provisions to provide for recapture of the amounts by which a taxpayer's gross income from U.S. sources is exceeded by the amount of the deductions properly allocated to such sources. Requires that subsequent U.S.-source income, in an amount related to the recaptured domestic loss, be treated as income from foreign sources. Eliminates the separate category treatment of section 902 corporations (corporations which own ten percent or more of voting stock of foreign corporations). Provides that dividends, interest, rents, and royalties from the sale of stock in such companies shall not be treated as income in a separate category. Revises the tax rules applicable to corporations that meet the 80 percent foreign business requirements. Makes the special rules on passive foreign investment companies inapplicable to a taxpayer with respect to a corporation if such corporation is a controlled foreign corporation and the taxpayer is a United States shareholder with respect to such corporation. Makes permanent the rules on qualified research and experimental expenditures. Prohibits the allocation or apportionment of any deduction for State or local income or franchise tax to gross income from sources outside the United States. Revises the method of determining the amount of foreign tax credit by taking into account foreign taxes attributable to earnings and profits, dividends, and certain stocks.
United States · United States Congress · 27 July 1990
Amends the Internal Revenue Code to provide that the exceptions to the disallowance of entertainment and other related expenses for sports events and club entertainment do not apply to activities held at a facility, or to the facility, if the facility or the organization which owns or operates it has any pattern or practice of discriminating against any person on the basis of race, color, sex, or religion. Prohibits tax-exempt social clubs from discriminating on the basis of sex.
United States · United States Congress · 26 July 1990
Amends the Internal Revenue Code to require the use of the 150 percent declining balance method of depreciation for computer equipment for alternative minimum tax purposes. Allows the use of the straight-line method for the first year for which such method will yield a higher allowance.
United States · United States Congress · 25 July 1990
Church Retirement Benefits Simplification Act of 1990 - Amends the Internal Revenue Code to recodify and revise qualifications for church retirement and pension plans. Makes employee contributions to such plans nonforfeitable. Allows ten-year vesting with a nonforfeitable right to 100 percent of accrued benefits derived from employer contributions. Allows five-to-fifteen year vesting with a nonforfeitable right to a percentage (25% to 100%) of such accrued benefits. Requires the plan to meet minimum vesting requirements. Provides that no employee shall be considered an officer, shareholder, supervisor, or highly compensated employee if such employee receives less than $50,000 per year. Excludes from such consideration employees covered by a collective bargaining agreement if retirement benefits were a subject of good faith bargaining. Recodifies the authority of a church or a convention or association of churches to be treated as an employer making contributions to retirement income accounts. Subjects church-related hospitals and universities to certain coverage and related rules in the case of a contract purchased by a church. Requires distributions from retirement income accounts provided by churches to be in accordance with distributions under cash or deferred arrangements. Provides for determining the beginning date for such distributions. Allows self-employed ministers and chaplains who work for non-church employers to participate in their church plans. Provides that certain rules aggregating employees do not apply to churches. Restores qualified voluntary employee contributions to church plans. Treats self-employed ministers as employees for purposes of certain welfare benefit plans and retirement income accounts. Allows a deduction for contributions to retirement income accounts by such ministers. Provides that a church plan maintained by more than one employer shall not be treated as a single plan. Provides that accounting methods of deferred compensation plans of State and local governments and tax-exempt organizations do not apply to a church plan. Exempts a church plan from the requirement to maintain separate accounts for medical benefits for key employees. Provides that the special rules for computing employee contributions to pension plans do not apply to certain foreign missionaries. Repeals the elective deferral catch-up limitation for church retirement income accounts. Allows church plans to annuitize benefits and increase benefit payments. Provides that rules for self-insured medical reimbursement plans are not applicable to church plans.
United States · United States Congress · 25 July 1990
Employee Benefits Simplification Act - Title I: Nondiscrimination Provisions - Amends the Internal Revenue Code with respect to employee benefit plans. Redefines the term "highly compensated employee" for pension, profit sharing, stock bonus plans, etc. purposes. Makes such employee one who is a five-percent owner or who has compensation from the employer in excess of $50,000. Provides a special rule where no employees are treated as highly compensated. Redefines "compensation" to mean in general the amount of wages shown on the W-2 form for the calendar year. Allows self-employed individuals to use their earned income amount. Includes the following deferrals as those which an employer may elect to take into account when determining salary reduction contributions: (1) deferred compensation plans of State and local government and tax-exempt organizations; (2) contributions to an employee trust; and (3) trusts for benefit payments funded by employer contributions. Permits an employer to elect to use base pay for all purposes, other than indentifying highly compensated employees, in lieu of W-2 compensation. Provides that the cost-of-living adjustment with respect to any calendar year is based on the increase in the applicable index as of the close of the calendar quarter ending September 30 of the calendar year. Requires the rounding of such amounts to the nearest $1,000, except that elective deferrals and elective contributions to simplified employee pensions are rounded to the nearest $100. Provides that the minimum participation rule applies only to defined benefit pension plans. Requires such plans to benefit not less than 25 employees, or the greater of 40 percent of all employees or two employees (or if there is only one employee, such employee). Sets forth alternative methods of meeting nondiscrimination requirements for cash or deferred arrangements, including specified contribution and notice requirements. Sets forth alternative methods of satisfying the nondiscrimination test for matching contributions. Revises the method of distributing excess contributions to highly compensated employees. Title II: Distribution - Allows distributions from qualified pension plans to be rolled over tax-free to an individual retirement account or another qualified plan or annuity. Eliminates five-year averaging for lump-sum distributions from qualified plans. Requires certain tax-free distributions to be made in the form of a direct trustee-to-trustee transfer to an eligible individual retirement plan. Sets forth administrative requirements in making such distributions. Requires distributions to be made from qualified plans by April 1 of the calendar year following the later of: (1) the calendar year in which the employee attains age 70; or (2) the calendar year in which the employee retires. (Present law requires such distributions no later than April 1 of the calendar year following the calendar year in which the employee attains age 70 1/2.) Title III: Miscellaneous Provision - Revises the definition of a leased employee to include one whose services are performed under the control of a service recipient, instead of one whose services are historically performed by employees. Replaces the 59 1/2- and 70 1/2-year age requirement with 59- and 70-year age requirements for specified pension plans. Eliminates the special aggregation rules that apply to plans maintained by owner-employees that do not apply to other qualified plans. Makes the 150 percent current liability limitation on the deduction allowed for employer contributions to qualified pension plans inapplicable to multiemployer plans. Repeals the present law annual valuation requirement for such plans and applies the prior law requirement that valuations be performed at least every three years. Sets forth affiliation requirements for employers jointly maintaining a voluntary employees' beneficiary association. Makes the following limitation inapplicable to plans maintained by State and local governments and certain tax-exempt organizations: (1) excess benefit limitations; (2) compensation limitation on benefits; (3) limitations on disability and survior benefits; and (4) the limitation on benefits exceeding 100 percent of the participant's average compensation. Modifies provisions relating to simplified employee pensions. Increases the number of allowable participants for salary reduction arrangements from 25 to 100. Allows participation after one year of service (currently, three years of service is required). Repeals the requirement that at least 50 percent of eligible employees participate in a salary reduction arrangement. Eliminates certain requirements regarding contributions on behalf of disabled employees. Allows rural cooperative plans which include cash or deferred arrangements to make distributions to participants after attainment of age 59. Includes reports of pension and annuity payments in information returns and payee statements. Deletes reports of designated distributions from the scope of the $25 per day penalty. Provides a $10 reporting threshold for designated distributions.
United States · United States Congress · 24 July 1990
Financial Crimes Prosecution and Recovery Act of 1990 as Reported By the Committee on the Judiciary of the House of Representatives - Title I: Enhanced Criminal Penalties - Amends Federal criminal law to establish criminal penalties (including imprisonment) for the concealment of assets from the Federal Deposit Insurance Corporation (FDIC) (acting as conservator or receiver) and the Resolution Trust Corporation (RTC) acting as conservator or receiver. Amends the Federal Deposit Insurance Act to prohibit certain felons convicted of dishonesty or breach of trust from controlling or participating in the affairs of a depository institution for a minimum ten-year period. Amends Federal criminal law to establish criminal penalties (including imprisonment) for obstructing any examination of a financial institution. Increases to 30 years (currently, 20 years) the maximum prison term for bank fraud and embezzlement. Establishes a ten-year statute of limitations for the prosecution of racketeering offenses involving financial institutions. Extends money laundering prohibitions to include funds from specified bank crimes. Directs the U.S. Sentencing Commission to promulgate guidelines for increased penalties for certain bank crime convictions in which the defendant derived more than $1,000,000 in gross receipts from the offense. Provides for restoration of forfeited property and for restitution to bank crime victims. Sets forth maximum criminal fines and minimum imprisonment terms for certain continuing financial crime enterprises (i.e., certain violations committed by at least four persons acting in concert). Title II: Protecting Assets from Wrongful Disposition - Authorizes the Attorney General to obtain a court order enjoining or restraining the alienation of disposition of property obtained as a result of a banking law violation. Amends the Federal Deposit Insurance Act to set forth attachment procedures. Amends Federal bankruptcy law to provide that the trustee shall be deemed to have assumed a debtor's commitment to a Federal depository institution regulatory agency to maintain the capital of an insured depository institution (thus precluding the trustee from rejecting such commitment as an executory contract which can be avoided as a discharge in bankruptcy). Exempts a Federal depository institution regulatory agency acting as conservator for an insured depository institution from the requirement of proving reasonable reliance upon a false writing supplied by a debtor who is an institution-affiliated party. Prohibits a discharge in bankruptcy for debts resulting from the debtor's failure to fulfill a commitment to a Federal financial institution regulatory agency to maintain the capital of an insured depository institution. Exempts a Federal depository institution regulatory agency acting as conservator for an insured depository institution from the requirement of a timely nondischargeability request (including notice and hearing) when seeking to recover a debt relating to malfeasance. Declares that for specified cases of deceitful conduct, any institution-affiliated party of an insured depository institution (or credit union) shall be deemed to have been acting in a fiduciary capacity with respect to any debt owed to a Federal banking regulatory agency (thus making such debt nondischargeable in bankruptcy). Makes it a prerequisite of a bankruptcy reorganization plan that the debtor will: (1) maintain any commitment to a Federal banking regulatory agency to maintain the capital of an insured depository institution; and (2) continue to be obligated for any debt to such agency for failure to fulfill such commitment. Makes certain debts owed by an institution-affiliated party to an insured depository institution under Federal receivership nondischargeable under a consumer debt bankruptcy plan. Amends the Federal Deposit Insurance Act to empower the FDIC (acting as conservator) to avoid fraudulent conveyances by a debtor institution-affiliated party. Prohibits an insured depository institution which does not meet minimum Federal capitalization requirements from making golden parachute payments, covered benefit payments, or certain payments in anticipation of insolvency to an institution-affiliated party without prior written Federal agency approval. Cites conditions under which insured depository institutions may make golden parachute payments and covered benefits payments with FDIC approval. Amends the Federal criminal code to revise civil and criminal forfeiture guidelines for: (1) property affecting a financial institution; and (2) fraudulent offenses involving the sale of assets held by Federal banking regulatory agencies. Amends the Federal Deposit Insurance Act to prohibit certain convicted felony debtors whose default to an insured financial institution in receivership will cause substantial loss from acquiring any asset of the institution (except with respect to repayment). Title III: Improved Procedures for Handling Banking-Related Cases - Amends Federal criminal law to authorize wiretaps for bank fraud and related offenses. Amends the Federal Deposit Insurance Act to set forth reciprocal assistance guidelines for foreign investigations by Federal banking agencies and investigations on behalf of foreign banking authorities. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to extend to ten years (currently, five years) the statute of limitations for commencing a civil action for Federal bank law violations. Amends the Federal Deposit Insurance Act and the National Credit Union Act to grant the FDIC, the RTC, and the NCUA subpoena authority. Title IV: Structural Reforms to Improve the Federal Response to Crimes Affecting Financial Institutions - Establishes within the Office of the Deputy Attorney General in the Department of Justice a Financial Institutions Fraud Unit, headed by a Special Counsel who shall report directly to the Deputy Attorney General. Terminates such Office five years after enactment of this Act. Empowers the Special Counsel to investigate and prosecute criminal activity involving the financial services industry. Directs the Attorney General to establish: (1) financial institutions fraud task forces; and (2) a senior interagency group to assist in identifying the most significant financial institution fraud cases, to allocate investigative and prosecutorial resources, and to expedite interagency coordination and prosecution of financial institutions fraud. Amends Federal criminal law to authorize the Secret Service (under the direction of the Secretary of the Treasury) to detect and arrest persons who violate banking laws with respect to financial institutions and the Resolution Trust Corporation (RTC). Title V: Reporting Requirements - Directs the Attorney General to report quarterly to the Congress regarding financial institution crimes. Requires the Director of the Administrative Office of the United States Courts to present annual statistical tables to the Congress on the business imposed on the Federal courts by the savings and loan crisis. Title VI: National Commission on Financial Institution Reform, Recovery, and Enforcement - Establishes the National Commission on Financial Institution Reform, Recovery, and Enforcement to make investigations and recommendations regarding specified aspects of the savings and loan crisis. Requires the Commission to submit a final report to the President and the Congress within one year after enactment of this Act. Terminates the Commission 30 days after the submission of such final report. Authorizes appropriations. Title VII: Authorizations - Amends the FIRREA to authorize appropriations to the Attorney General and the Federal Court System for bank crime cases.
United States · United States Congress · 23 July 1990
Declares that the rate of duty on East German products imported into the United States after July 31, 1990, and before a unified Germany is eligible for column one duty treatment under the Harmonized Tariff Schedule of the United States, shall be equal to 110 percent of the rate that would be imposed if the column one duty rate applied to such products at the time of importation.
United States · United States Congress · 17 July 1990
Amends the Internal Revenue Code to increase to $25,000 (currently $15,000) the amount of a home improvement loan which may be financed with tax-exempt bonds. Provides a cost-of-living adjustment for such amount in calendar years after 1991.
United States · United States Congress · 10 July 1990
Title X Pregnancy Counseling Act of 1990 - Amends the Public Health Service Act to prohibit the Secretary of Health and Human Services from making a grant for the provision of family planning methods or services unless the applicant agrees to provide complete information and counseling regarding pregnancy, and for a pregnant woman who requests information on options for an unintended pregnancy, to provide: (1) nondirective counseling on prenatal care and delivery, infant care, foster care and adoption, and termination of pregnancy; and (2) referrals for the services that are appropriate to the decision of the woman.
United States · United States Congress · 10 July 1990
Designates September 16 through 22, 1990, as National Rehabilitation Week. Urges each State Governor and local government chief executive to issue proclamations calling upon their citizens to observe such week with appropriate ceremonies and activities.
United States · United States Congress · 28 June 1990
Caribbean Debt for Development Act of 1990 - Deems to be payments made by Caribbean countries to the United States for economic assistance loans: (1) equivalent amounts of local currency deposited into a local currency account for development purposes; and (2) local currency for which the President waives the equivalent deposit requirement. Permits such waiver only if the availability of the local currencies that would otherwise be deposited would be contrary to the long-term development of the country. Requires annual congressional presentation materials to describe the debt for development agreements entered into under this Act.
United States · United States Congress · 21 June 1990
Expresses the sense of the House of Representatives that the memory of Walt Disney should be honored on the 35th anniversary of his contribution to the American dream (the opening of Disneyland).
United States · United States Congress · 14 June 1990
Financial Crimes Prosecution and Recovery Act of 1990 - Title I: National Commission on Financial Crimes - Establishes the National Commission on Financial Crimes to investigate fraud and abuse in the financial services industry and to recommend procedures for improving interagency cooperation and tactics for law enforcement officers in the investigation and prosecution of financial crimes. Sets forth provisions with respect to the membership, powers, pay, reporting requirements, and termination of the Commission. Title II: Improvements in Administration of the Department of Justice - Directs the Attorney General to establish a financial crimes strike force in each Federal judicial district which is in the top quartile of such districts with respect to the total number of criminal referrals filed with the Attorney General by the appropriate Federal banking agencies relating to residents of, or persons located in, such district. Provides for local control of each such strike force, through the U.S. Attorney for such district, except as otherwise provided by the Attorney General. Sets forth provisions regarding pay for attorneys on financial crimes strike forces. Directs the Attorney General to: (1) establish a merit system to recognize and reward outstanding efforts of individuals engaged in the investigation and prosecution of financial crimes; (2) prohibit any U.S. attorney or any other attorney employed by the Department of Justice from taking into account the dollar amount of any loss incurred in connection with any financial crime in making a determination with respect to the investigation or prosecution of such crime; and (3) prescribe by regulation that the investigation of any referral from an appropriate Federal banking agency related to a financial crime involving an insured depository institution in default or in danger of default, or of any troubled institution, be given priority in case management. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to make specified civil money penalties collected under such Act available to the Attorney General to carry out any provision of law. Amends the Federal criminal code to grant specified officials of the Federal Bureau of Investigation administrative subpoena authority regarding specified financial crimes. Sets forth provisions: (1) with respect to standards governing production of items subpoenaed; and (2) granting persons complying in good faith with a summons or order issued under this Act and producing the materials sought immunity from civil liability to the consumer for such production or nondisclosure of such production. Title III: Improvements in the Administration of the FDIC and the RTC - Amends the Federal Deposit Insurance Act (FDIA) to grant subpoena authority to the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation (RTC) as a conservator or receiver or for carrying out authority with respect to an insured depository institution. Amends the Internal Revenue Code to grant the FDIC and the RTC access to Internal Revenue Service returns and return information upon written requests by the respective Board of Directors and upon certification by the Board that it has a substantial need for such returns or return information. Amends the FDIA to authorize Federal banking agencies, in conducting any investigation, examination, or enforcement action under such Act, to: (1) request the assistance of any foreign banking authority; (2) maintain an office outside the United States for such purposes; (3) provide assistance to a foreign banking authority, upon request, if the requesting authority is conducting an investigation involving a violation of laws or regulations relating to banking matters that the requesting authority administers or enforces; and (4) conduct such an investigation as is necessary to collect information and evidence pertinent to such a request without regard to whether the facts stated in the request also constitute a violation of U.S. law. Authorizes the FDIC and the RTC, as conservator or receiver of any insured depository institution, to request the assistance of any foreign banking authority and provide assistance to any such authority in accordance with this Act. Requires the FDIC and the RTC to each maintain a permanent office to coordinate foreign investigations or investigations on behalf of foreign banking authorities. Authorizes the Board of Directors of the FDIC to act in its own name and through its own attorneys in any action or proceeding in which the FDIC is an interested party, whether in its corporate capacity or as conservator or receiver for any insured depository institution. Grants priority to the FDIC over certain claims or actions filed or begun against an affiliated party of the insured depository institution by depositors, creditors, or shareholders of the institution after enactment of this Act. Authorizes the FDIC, as conservator or receiver for any insured depository institution, to avoid any transfer of interest of an institution-affiliated party or any transfer of interest or obligation of person determined to be a debtor of the institution that was made within five years of appointment of the FDIC as conservator or receiver, if such party made such transfer or incurred such liability with intent to hinder, delay, or defraud the insured depository institution. Specifies circumstances under which the FDIC may recover the property transferred or the value of such property. Sets forth provisions regarding prejudgment attachments of assets where an institution-affiliated party may be required to provide restitution to the institution or where the party is a debtor of the institution, and where the assets will be dissipated or otherwise placed beyond the jurisdiction of the court or FDIC before any recovery may be completed unless a trustee is appointed. Establishes criminal penalties for knowingly concealing assets or property from the FDIC or the RTC as a conservator or receiver for any insured depository institution. Requires each Federal banking agency to require directors of depository institutions to complete an educational course on their duties as directors every three years. Authorizes a court or the Attorney General to direct disclosures of matters occurring before a grand jury during an investigation of a banking law violation to identified personnel of a financial institution regulatory agency upon a finding of substantial need, subject to specified conditions. Excludes the payment of restitution under specified Acts including the FDIA from discharge under bankruptcy provisions. Amends the Federal criminal code to subject to civil forfeiture property which constitutes or is derived from proceeds traceable to mail fraud, or fraud by wire, radio, or television, affecting a financial institution. Amends the FDIA, the Federal Credit Union Act, the Revised Statutes, the Federal Reserve Act, the Bank Holding Company Acts of 1956 and 1970, and the Home Owners' Loan Act to permit the appropriate Federal banking agency, the FDIC, or, in the case of the latter statute, the Director, to apply to specified courts to recover from a depository institution administrative costs arising out of actions taken to recover a civil penalty. Title IV: Taxpayer Recovery Act - Taxpayer Recovery Act of 1990 - Makes an exception to a discharge in bankruptcy for: (1) restitution that the debtor has been ordered to pay by a State or Federal court in any criminal proceeding arising from an act that caused a loss to any bank, savings association, or credit union (bank); or (2) damages provided in any judgment, order, or consent decree entered in any State or Federal court, or in any settlement agreement entered into by the debtor, arising from any act involving fraud or reckless disregard for the law committed with respect to any such institution. Requires that any individual acting as a director, officer, or institution-affiliated party of a bank be considered to be acting in a fiduciary capacity with respect to such institution for purposes of a provision making an exception to a discharge from bankruptcy involving fraud or defalcation while acting in such capacity. Specifies that reliance by a creditor will not be required to establish an exception to discharge if the creditor is a financial regulatory agency that is a successor to a bank. Sets forth time limits for the filing of a complaint objecting to the discharge of a debt owed to: (1) a bank that is closed, is in receivership or conservatorship, or is sold to another bank in a transaction assisted by a financial regulatory agency; or (2) such an agency. Specifies that an individual debtor who has committed an act involving fraud or reckless disregard for the law or is subsequently adjudicated to have committed such an act during the pendency of his bankruptcy proceeding with respect to any bank that is in receivership or conservatorship or that is sold to another bank assisted by a financial regulatory agency shall not be exempt from: (1) more than $7,500 in value of the debtor's aggregate interest in any real property that the debtor uses as a residence: and (2) the debtor's interest in any insurance policy or annuity.
United States · United States Congress · 14 June 1990
Amends the Internal Revenue Code to treat qualified instructional materials as research and experimental expenses deductible from a publisher's gross income as business expenses.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to revise the definition of a "contribution or expenditure" by a national bank, corporation, or labor organization to: (1) include communications to influence any election for Federal office by a corporation to its stockholders and executive or administrative personnel and their families or by a labor organization to its members and their families; and (2) repeal provisions excluding non-partisan registration and get-out-the-vote campaigns. Requires any payments by corporations or labor organizations for all other communications and for the establishment of, and solicitation of contributions for, a separate segregated fund for purposes relating to any such election to be disclosed to the Federal Election Commission in the same manner as for contributions or expenditures. Amends the Federal Election Campaign Act of 1971 to subject to the limitations and reporting requirements for expenditures any payment for a mixed political activity (an activity, such as a voter registration program, for both influencing an election for Federal office and for other purposes) by a national or State committee of a political party. Requires such a payment to be made only from an account subject to the requirements of that Act.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to: (1) require unauthorized political advertising that advocates the election or defeat of a clearly identified candidate or solicits any contribution to contain a statement at the beginning and end that is easily readable or audible which identifies the person who paid for such advertising and specifies that the advertising is not authorized by any candidate; (2) allow House candidates to certify to the Federal Election Commission (FEC) their intention to limit to $100,000 their total expenditures from personal funds and the personal funds of their immediate family; (3) provide that the opponent of a candidate who spends more than such amount or who does not make such a certification shall no longer be subject to the limitations on contributions; and (4) direct the FEC to prescribe regulations for making such certifications.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to prohibit candidates for the House of Representatives from accepting contributions from persons other than local individual residents totaling in excess of the total contributions accepted from local individual residents.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to: (1) require any individual required to file a statement of independent expenditures in an aggregate amount or value in excess of $250 during a calendar year to certify that such expenditures are from personal funds and to identify the financial institution from which any instrument is drawn to make such expenditures; (2) prohibit States from making any contribution or expenditure with respect to a Federal election or acting as an intermediary or conduit with respect to such contribution; (3) require disclosure of debt settlement and loan security agreements; (4) include as contributions any gift, subscription, loan, or deposit of money or anything of value made by any person to draft or encourage a clearly identified individual as a candidate for Federal office; and (5) treat such a contribution as a contribution to a candidate whether or not the individual actually becomes a candidate, for purposes of the limitations on contributions to any candidate for Federal office. Requires Members of, or Members-elect to, the House of Representatives to account for all franked mail excluding franked mail with a simplified form of address for delivery within the Member's congressional district.
United States · United States Congress · 13 June 1990
Amends rule XLVI of the Rules of the House of Representatives to exempt a notice of appearance or a scheduled itinerary from the franked mailing limitations only if: (1) it is in the form of a post card; (2) it is sent to addresses within specified travel distance from the event which the Member will attend; (3) the Member attends the event; and (4) an advisory opinion is obtained from the House Commission on Congressional Mailing Standards. Establishes an Official Mail Allowance for franked mailing by Members of the House of Representatives within specified guidelines and limitations. Amends rule XLVI of the Rules of the House of Representatives to: (1) reduce from six to two the number of franked mailings per year per addressee to which a Member after December 31, 1990, is entitled; (2) reduce from six to two, after such date, the number of franked mailings per year per addressee relating solely to a notice of appearance of a scheduled itinerary of a Member; (3) require a Member, before making any mass mailing (including direct response to communications from constituents), to submit a sample or description of the mail matter involved to the House Commission on Congressional Mailing Standards for a statutory compliance advisory opinion; (4) require the Clerk of the House of Representatives to make available for public inspection, semi-annually, a mass mailing report compiled from data provided by the House Committee on Administration; and (5) require that a mass mailing by a Member contain a specified notice on the cover page of the document.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to: (1) exclude from the annual limitation on total individual contributions those contributions to national, State, and local committees of political parties that, in the aggregate, do not exceed $25,000 in a calendar year; (2) remove the limitations on contributions by the national or State committee of a political party or by a House or Senate campaign committee of a political party to candidates in general elections for Federal office; (3) allow national and State committees of a political party to match the total amount of independent expenditures made against their respective candidates in congressional elections; (4) establish guidelines for determining the Federal election portion of amounts paid by national and State committees of a political party for a mixed political activity (an activity, such as a voter registration program, for both influencing an election for Federal office and for other purposes); (5) subject such payments to the limitations and reporting requirements for expenditures; (6) require such payments to be made only from an account subject to the requirements of that Act; (7) repeal provisions excluding funds for constructing or purchasing office facilities from the definition of a "contribution"; (8) define "local committee" as an organization that is responsible for the daily operation of a political party at the local level; and (9) allow such local committees to make contributions and expenditures without limitation to any candidate who is affiliated with the party the committee represents and who is a candidate for Senator or Representative in the State involved. Amends the Internal Revenue Code to allow a tax credit for qualified political contributions to candidates for State or Federal office. Limits such credit to $250 for a taxable year.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to: (1) establish a separate limitation of $1,000 with respect to nonparty multicandidate political committee contributions to any candidate for Federal office (currently, all multicandidate political committee contributions to such candidates are subject to a $5,000 limitation); (2) prohibit separate segregated funds established by corporations or labor organizations for political purposes from acting as intermediaries or conduits with respect to contributions to such a candidate; (3) prohibit a political committee that is not an authorized committee of such a candidate and is not a political committee of a political party from transferring funds to any other such political committee; (4) prohibit such a candidate from establishing, maintaining, financing, or controlling a political committee, other than the principal campaign committee of the candidate; and (5) prohibit a principal campaign committee of such a candidate from making any contribution to any other principal campaign committee (other than the principal campaign committee of the same individual as a candidate for another Federal office).
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to prohibit labor organizations from using dues or agency fees for political purposes, unless the employee paying the dues or fees approves of such use. Permits employees to revoke their approval. Requires labor organizations using such dues or fees to notify annually the employees paying dues or agency fees of such prohibition and of their right to revoke their approval.
United States · United States Congress · 13 June 1990
Amends the Federal Election Campaign Act of 1971 to: (1) remove the Secretary of the Senate and the Clerk of the House of Representatives as ex officio members of the Federal Election Commission; and (2) require all designations, statements, and reports required to be filed under that Act to be filed with the Commission.
United States · United States Congress · 13 June 1990
Fair and Reasonable Payment Limitations Act of 1990 - Amends the Food Security Act of 1985 with regard to assistance limitations and the Agricultural Act of 1949 with regard to emergency livestock assistance limitations to attribute payments to natural persons in proportion to their ownership interest in a corporation, partnership, or other specified entity. Amends the Food Security Act of 1985 to set forth specified payment limitations for the 1991 through 1995 crops.
United States · United States Congress · 7 June 1990
Designates as South African Freedom Week the week in 1990 coinciding with the first visit of Nelson Mandela to the United States after his release from prison in South Africa.
United States · United States Congress · 5 June 1990
1992 Olympic Commemorative Coin Act - Directs the Secretary of the Treasury to issue 1992 Olympic Games commemorative five-dollar gold coins and one-dollar silver coins. Prescribes guidelines for the sale and pricing of such coins and directs the Secretary to ensure that their issuance will not result in any net cost to the United States. Mandates that surcharges be paid to the U.S. Olympic Committee.
![Official portrait of Rep. Frenzel, Bill [R-MN-3]](https://www.congress.gov/img/member/f000380_200.jpg)