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Official portrait of Rep. Hanley, James M. [D-NY-32]

Rep. Hanley, James M. [D-NY-32]

United States · Official source

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625 records where Rep. Hanley, James M. [D-NY-32] is listed as a sponsor, author, or other actor. Search with topics and years

Bill· HRH.R. 15088 (94th)referred

A bill to permit federally chartered savings and loan associations located in New York to offer checking accounts to the extent that similar State chartered institutions in New York are permitted to do so.

United States · United States Congress · 5 August 1976

Amends the Home Owners' Loan Act to permit federally chartered savings and loan associations located in New York to offer checking accounts to the extent that similar State-chartered institutions in New York are permitted to do so.

Resolution· HCONRESH.Con.Res. 701 (94th)referred

A resolution expressing commendation to the Government of Israel for its Entebbe Airport rescue mission, disapproval of efforts to condemn or censure Israel for the action, approval of the position taken by the Government of the United States and of the United States-United Kingdom resolution, and requesting the President to initiate and engage in negotiations leading to an international agreement to curb terrorist acts.

United States · United States Congress · 3 August 1976

Commends the government and commando units of Israel for the rescue mission at Entebbe Airport. Disapproves efforts being undertaken by certain nations to condemn or censure Israel for such mission. Supports the United States-United Kingdom position at the United Nations condemning all acts of terrorism. Requests the President to engage in the negotiation of agreements with other nations to help prevent acts of terrorism.

Resolution· HRESH.Res. 1436 (94th)referred

A resolution to amend rule XXXII of the Rules of the House of Representatives to specify conditions for the admission of ex-Members and certain other persons to the Hall of the House and rooms leading thereto.

United States · United States Congress · 28 July 1976

Amends rule XXXII of the Rules of the House of Representatives to allow specified present and former employees and Members of the House to enter the Hall of the House and rooms leading thereto. Provides that such persons shall not be admitted if they have any direct personal or pecuniary interest in any legislative measure coming up for consideration in the House.

Bill· HRH.R. 14878 (94th)referred

Omnibus Energy Conservation Act

United States · United States Congress · 27 July 1976

Omnibus Energy Conservation Act - Title I: Energy Conservation in Residential Housing, Commercial and Public Buildings, and Industrial Plants - Amends the Energy Policy and Conservation Act to direct the Federal Energy Administrator to establish a voluntary standard and certification program for products designed to conserve energy in buildings. Directs the Administrator of the Federal Energy Administration to prescribe guidelines for the development and preparation of State energy conservation implementation programs. Requires that States be given an opportunity to participate in the drafting of such guidelines. Establishes eligibility criteria for State energy conservation implementation programs in order to receive Federal assistance under this Act. Imposes a preliminary requirement that the State establish a State energy conservation advisory committee to assist in the formulation of such program. Authorizes the Administrator to provide Federal financial assistance to States whose proposed energy conservation programs meet specified criteria. Lists factors to be considered in determining the amount of such assistance. Stipulates that no State shall receive more than ten percent of the national total in each category of financial assistance. Authorizes the appropriation of the following sums to assist eligible State programs: $25,000,000 for fiscal year 1977, and $50,000,000 per fiscal year for fiscal years 1978, 1979, and 1980. Authorizes the Administrator to guarantee loans and other obligations issued to finance energy conservation measures consistent with the purposes of this Act. Limits the aggregate amount of outstanding guarantees under this Act to $4,500,000,000. Limits the total amount of guarantees which may be issued to any one borrower to $2,000,000. Requires annual reports to the Congress on State energy conservation implementation programs. Amends the Energy Conservation and Insulation of Buildings Act of 1976 to authorize additional appropriations of $25,000,000 for fiscal year 1977, $50,000,000 per fiscal year for fiscal years 1978 and 1979; and $100,000,000 for fiscal year 1980 to assist low-income persons under the provisions of such Act. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to assist in the financing of energy conservation measures. Authorizes appropriations for such assistance payments of $100,000,000 for fiscal year 1977, and $200,000,000 per fiscal year for fiscal years 1978 - 1980. Amends the Small Business Act to empower the Small Business Administration to make loans to small business concerns for implementation of energy conservation measures. Limits the total amount of such loans under the Act to $300,000,000. Stipulates that the total amount of such payments to lending institutions under the Act shall not exceed $60,000,000. Title II: Implementation of Energy Conservation, Programs; Energy Efficiency Research, Development and Demonstration - Establishes in the Energy Research and Development Administration the Energy Extension Service. Directs the Service to develop and implement a comprehensive program for the identification, development, and demonstration of energy conserving practices, techniques, materials, and equipment for: (1) agricultural, commercial, and small business operations; and (2) new and existing residential, commercial, or agricultural structures. Requires that such programs include technical assistance, instruction, and practical demonstrations in energy conservation. Establishes procedures for submission of State plans for the conduct of energy extension service activities within each State in accordance with Federal guidelines. Authorizes financial assistance to States which have plans approved by the Director of the Energy Extension Service. Directs the Administrator of the Energy Research and Development Administration to prepare a plan for Federal energy education, extension, and information programs. Establishes a National Energy Extension Service Advisory Board to carry on a continuing review of Federal energy extension programs. Authorizes the Administrator of Energy Research and Development to provide financial assistance for the development of State and regional energy conservation research and development institutes on a matching basis. Directs the Administrator to establish an energy use efficiency project designed to demonstrate the feasibility of energy efficiency enhancement in the residential, commercial, industrial, and agricultural sectors. Authorizes additional research, development, and demonstration programs to increase the commercial opportunities for utilization of energy efficient systems. Directs the Administrator to develop, within 180 days after the enactment of this Act, performance standards and criteria for energy efficiency equipment and processes. Requires use by Federal agencies of newly-developed energy efficiency technologies. Directs the Administrator to study various institutional factors which may tend to bias economic sectors against the use of energy efficient systems and to report the results to the Congress.

Bill· HRH.R. 14601 (94th)referred

National Educational Opportunities Act

United States · United States Congress · 29 June 1976

National Educational Opportunities Act - Title I: Definition and Guarantee of a Unitary School System and Equal Educational Opportunity - Provides that each State and its local educational agencies shall establish and maintain desegregated, unitary school systems which offer equal educational opportunities to all students, regardless of race, color, or national origin. States that a desegregrated unitary school system shall be presumed to exist unless a State or local educational agency denies equal educational opportunities to an individual on account of race, color, or national origin by specified acts which have the natural, probable, foreseeable, or actual effect of segregating students on the basis of race, color or national origin. Prohibits local educational agencies from denying equal educational opportunity to an individual on account of race, color, or national origin by maintenance of practices or provision of resources in schools in which minority students are concentrated that are less favorable for educational success and advancement than in schools attended primarily by students of any other race, color, or national origin. Gives examples of such denials of equal educational opportunity. Authorizes the Attorney General to bring a civil action in Federal court for equitable relief in any case where he has reasonable cause to believe that the provisions of this Act are being violated. Title II: State Equal Educational Opportunities Plans - Requires each State to prepare and submit to the Secretary of Health, Education, and Welfare for his approval a plan to carry out the purpose of this Act. Requires that such plan shall provide for the establishment of State and local advisory bodies to advise State and local educational agencies on development and participation in such plans. Requires such plans to provide a viable mechanism for States and local educational systems to implement a policy of equal educational opportunities that delineates the fundamental prerequisites for a desegregated, unitary school system. Provides that such State plans shall include specific means for implementing some or all of the following components: (1) a majority transfer plan on both an intradistrict and interdistrict basis; (2) a school district reorganization plan; and (3) an approved, concentrated compensatory education program for basic instructional programs, supportive services, and vocational guidance and for programs having potential for improving the achievement performance of educationally deprived students. Authorizes to be appropriated for carrying out this title not in excess of $200,000,000 for fiscal year 1977, $500,000,000 for fiscal year 1978, and $500,000,000 for each fiscal year for the next three fiscal years. Provides a formula for allotment of such funds to the States and for allocation among various programs and agencies. States that whenever the Secretary, after reasonable notice and opportunity for a hearing: (1) disapproves such a plan; or (2) finds that no plan has been submitted by a State, that a State plan approved under this Act has been so changed that it no longer complies with the requirements of this Act, that plan administration fails to comply substantially with any such provisions, or that a grantee is in violation of title II of this Act, the Secretary shall notify the grantee that further payments will not be made to the grantee under this title or any other educational assistance program until he is satisfied that there will no longer be any failure to comply. Provides that, until he is so satisfied, the Secretary shall make no further payments under such titles. Provides for review of the Secretary's action in such cases by the United States Court of Appeals for the circuit in which the claimant State is located. Title III: General Provisions and Definitions - Defines the terms used in this Act.

Bill· HRH.R. 14596 (94th)referred

Small Business Growth and Job Creation Act

United States · United States Congress · 29 June 1976

Small Business Growth and Job Creation Act - Title I: Small Business Independence and Continuation - Amends the Internal Revenue Code to establish graduated corporate income tax rates. Changes the holding period for capital assets from six months to one year. Establishes a new alternative tax on capital gains. Increases the estate tax exemption from $60,000 to $180,000. Establishes a new rate schedule for the estate tax. Increases the gift tax exclusion from $3,000 to $9,000, and the gift tax exemption from $30,000 to $90,000. Replaces the present gift tax schedule with a flat rate of 75 percent of whatever the estate tax on such a sum would be. Provides that a distribution of property by a corporation in redemption of stock to pay death taxes shall be treated as a distribution in full payment in exchange for the stock if all of the stock of such corporation which is included in determining the value of the decedent's gross estate is either, (1) more than 20 percent (generally, 35 percent), of the value of the gross estate of such decedent, or (2) more than 40 percent (generally, 50 percent) of the taxable estate of such decedent. Provides that if stock in a corporation is sold by a shareholder owning stock representing more than 30 percent of the fair market value of all outstanding stock of the corporation whose stock is being sold, the gain from such sale shall be recognized only to the extent that the taxpayer's sale price exceeds the cost of replacement property purchased by the taxpayer within two years. Defines "replacement property" as property which is held for the production of income or which is held for investment. Allows the executor of an estate involving an interest in a closely held business to elect to include in the value of the gross estate the decedent's basis in such business rather than the fair market value of such interest. States that the basis of property acquired from a decedent as to which such an election was made shall be the decedent's basis in such property rather than the fair market value of such interest. Allows the marital deduction of the estate tax to exceed 50 percent of the value of the adjusted gross estate when an interest in a specially defined small business is included in the estate. Title II: Small Business Growth Incentives - Allows a taxpayer to choose the cash method of accounting in any case where inventory is an income determining factor and the ending inventory for the taxable year does not exceed $200,000. Provides a deferred tax credit against taxable income for unincorporated businesses. Establishes a graduated investment tax credit. Amends the definition of a small business corporation to allow domestic corporations with up to 20 shareholders (presently, ten) to qualify for subchapter S treatment. Allows a small business to make a subchapter S election at any time during the taxable year. Allows to a business a credit equal to 50 percent of the wages paid during the taxable year to new employees, up to two employees and $20,000 for the taxable year. Allows a similar credit for new disadvantaged employees up to a maximum of $60,000 per taxable year. Allows the practical cost recovery method to be used in computing depreciation. Title III: Small Business Tax Simplification - Allows a corporation to file an application for refund of overpayment of estimated income tax at any time during the taxable year. Provides a special rule for treatment of net operating loss adjustments in the case of new corporations. Increases the minimum credit on accumulated earnings from $150,000 to $500,000. Redefines "section 1244 stock" to mean common stock in a corporation if: (1) such corporation during its preceding taxable year derived more than 50 percent of its aggregate gross receipts from sources other than royalties, rents, dividends, interest, annuities, and sales or exchanges of stock or securities; and (2) the equity capital of such corporation does not exceed $1,000,000. Increases the losses on section 1244 stock which may be treated as ordinary losses (rather than capital losses) from $25,000 to $50,000.

Resolution· HCONRESH.Con.Res. 665 (94th)referred

Concurrent resolution expressing the sense of the Congress in favor of eliminating the reduction in other Federal benefits which results when cost-of-living increases in social security benefits occur.

United States · United States Congress · 28 June 1976

Expresses the sense of the Congress that no individual whose social security benefits are increased should suffer, by reason of such increase, a loss of or reduction in any benefits which he or she is otherwise entitled to receive under any Federal or federally assisted program.

Resolution· HRESH.Res. 1354 (94th)referred

Resolution providing for the establishment of a Select Committee on Narcotics Abuse and Control.

United States · United States Congress · 23 June 1976

Establishes in the House of Representatives a select committee to be known as the Select Committee on Narcotics Abuse and Control. Provides that the select committee shall conduct a continuing comprehensive study and review of the problems of narcotics abuse and control and shall review any recommendations made by the President, or by any department or agency of the executive branch of the Federal Government, relating to programs or policies affecting narcotics abuse or control. Authorizes the select committee to conduct field investigations or inspections. Requires the select committee to submit an annual report to the House which shall include a summary of the activities of the select committee during the calendar year to which such report applies.

Resolution· HRESH.Res. 1334 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 22 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1323 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 18 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1319 (94th)referred

Resolution expressing the sense of the House regarding the closing of post office.

United States · United States Congress · 17 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1308 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 16 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1309 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 16 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1310 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 16 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1311 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 16 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1300 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 14 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1301 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 14 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1299 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 14 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1256 (94th)referred

Resolution expressing the sense of the House regarding the closing of post office.

United States · United States Congress · 4 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1257 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 4 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1255 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 4 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1240 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 2 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1237 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 2 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1238 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 2 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Resolution· HRESH.Res. 1239 (94th)referred

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 2 June 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Bill· HRH.R. 14115 (94th)referred

Estate and Gift Tax Reform Act

United States · United States Congress · 1 June 1976

Estate and Gift Tax Reform Act - Amends the Internal Revenue Code to provide a single unified rate schedule for estate and gift taxes. Establishes progressive rates based on cumulative lifetime transfers and transfers at death. Determines the amount of estate tax by applying the unified rates to such cumulative transfers and then subtracting the taxes payable on lifetime transfers. Provides that for purposes of determining the amount of the gross estate, the amount of gift tax paid with respect to transfers made within three years of death shall be included in the decedent's gross estate. Provides, as a transitional rule, that the lifetime transfers taken into account in determining cumulative transfers at death, for purposes of imposing the estate tax under the unified schedule, shall only include taxable gifts made after December 31, 1976. Repeals the estate and gift tax exemptions. Substitutes for such exemptions a credit against estate and gift taxes in the amount of $29,800. Provides for an additional credit against the estate tax for specified farms and closely held businesses passing to a qualified heir. Defines "qualified heir" as a member of the decedent's family, including his spouse, lineal decendents, parents, and aunts and uncles of the decedent and their decendants. Makes such credit available where the value of a farm or closely held business included in a decedent's gross estate equals or exceeds 65 percent of the value of the gross estate. Stipulates that such credit shall be available only if the farm or closely held business has been owned by the decedent or his family for at least five out of the preceding eight years. Provides that the amount of such credit shall be $25,000 multiplied by a percentage representing the portion of the decedent's estate consisting of the farm or other closely held business. Phases out such credit after the value of the gross estate exceeds $1,000,000. Provides for the recapture of the estate tax benefit of such credit where there is a disposition of the business by the qualified heir to nonfamily members prior to the qualified heir's death or within 25 years of the death of the decedent. Provides for a lien on the qualified interest in a farm or closely held business with respect to which an election of such credit has been made. Increases the estate tax marital deduction to $250,000 or one-half of the decedent's gross estate, whichever is greater. Increases the gift tax marital deduction in the case of lifetime gifts to a spouse. Allows an unlimited marital deduction for the first $100,000 of lifetime gifts made to a spouse and, thereafter, a deduction for one-half of the aggregate lifetime gifts made to a spouse in excess of $200,000. Imposes a tax on the unrealized appreciation of property transferred by a decedent. Provides that the basis of such property shall be its fair market value on December 31, 1976. Allows an election to carry over the decedent's basis in any property instead of having the appreciation taxed. Exempts the first $50,000 of appreciation from taxation. Excludes the appreciation of assets valued at less than $10,000 and which are not held for use in a trade or business or for the production of income from such tax. Allows the deduction of the appreciation tax in computing the value of the taxable estate for estate tax purposes. Exempts from the appreciation tax any property transferred from the decedent if the income tax carries over to the recipient (income in respect of a decedent and survivor annuities). Provides that if an election to carry over the decedent's basis in lieu of paying the appreciation tax is made, the basis of the property is to be increased by the Federal and State estate taxes attributable to the net appreciation in value for the property. Allows the executor of an estate which includes real farm property to value the property as a farm, rather than its fair market value determined on the basis of its highest and best use. Imposes special qualifying conditions for such valuation, including: (1) the farm assets in the decedent's estate including both farm real property and personal property must be at least 50 percent of the decedent's gross estate (reduced by debts and expenses); (2) at least 25 percent of the adjusted value of the gross estate must be qualified farm real property; (3) the real property must pass to a qualified heir; (4) the real property must have been used or held for use as a farm for five of the last eight years prior to the decedent's death; and (5) there must have been material participation in the operation of the farm by the decedent or a member of his family in five years out of the eight years immediately preceding the decedent's death. Provides for recapture of any tax benefits obtained by use of the reduced valuation if, prior to the death of the qualified heir or within 25 years of the death of the decedent, the property is disposed of to nonfamily members or ceases to be used for farming purposes. Provides for a lien on all such real property with respect to which the farm valuation is elected. Provides for a 15-year period for the payment of the estate tax attributable to the decedent's interest in a farm or closely held business, with a deferral of the tax for five years and installment payments over the next ten years. Requires, as a qualification for such deferral and installment treatment, the value of the closely held business or farm in the decedent's estate to be at least 65 percent of the gross estate. Allows discretionary extensions of up to ten years to pay the estate tax for reasonable cause (rather than for "undue hardship" as under present law). Provides for a lien for payment of the deferred taxes attributable to a closely held business or farm. Imposes a tax, in the case of generation skipping transfers under a trust, upon a distribution of the trust assets to a generation skipping heir, or upon the termination of an intervening interest in the trust. Determines the tax by adding the value of the distributed property, or terminated interest, to the heir's taxable transfers and applying the heir's marginal transfer tax rate to the value of such interest. Extends from nine months to 12 months the period after the decedent's death in which an estate tax return must be filed. Requires gift tax returns to be filed for any quarter only when the total cumulative gifts made during the taxable year exceed $25,000, or during the last quarter if the total does not reach $25,000. Provides that if the Internal Revenue Service proposes a deficiency in the estate tax because of a higher valuation of the assets included in the decedent's gross estate, it must disclose to the executor during the settlement process the basis on which the higher valuation was determined.

Resolution· HRESH.Res. 1216 (94th)passed

Resolution expressing the sense of the House regarding the closing of post offices.

United States · United States Congress · 26 May 1976

Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.

Bill· HRH.R. 13915 (94th)referred

Small Business Growth and Job Creation Act

United States · United States Congress · 20 May 1976

Small Business Growth and Job Creation Act - Title I: Small Business Independence and Continuation - Amends the Internal Revenue Code to establish graduated corporate income tax rates. Changes the holding period for capital assets from six months to one year. Establishes a new alternative tax on capital gains. Increases the estate tax exemption from $60,000 to $180,000. Establishes a new rate schedule for the estate tax. Increases the gift tax exclusion from $3,000 to $9,000, and the gift tax exemption from $30,000 to $90,000. Replaces the present gift tax schedule with a flat rate of 75 percent of whatever the estate tax on such a sum would be. Provides that a distribution of property by a corporation in redemption of stock to pay death taxes shall be treated as a distribution in full payment in exchange for the stock if all of the stock of such corporation which is included in determining the value of the decedent's gross estate is either, (1) more than 20 percent (generally, 35 percent), of the value of the gross estate of such decedent, or (2) more than 40 percent (generally, 50 percent) of the taxable estate of such decedent. Provides that if stock in a corporation is sold by a shareholder owning stock representing more than 30 percent of the fair market value of all outstanding stock of the corporation whose stock is being sold, the gain from such sale shall be recognized only to the extent that the taxpayer's sale price exceeds the cost of replacement property purchased by the taxpayer within two years. Defines "replacement property" as property which is held for the production of income or which is held for investment. Allows the executor of an estate involving an interest in a closely held business to elect to include in the value of the gross estate the decedent's basis in such business rather than the fair market value of such interest. States that the basis of property acquired from a decedent as to which such an election was made shall be the decedent's basis in such property rather than the fair market value of such interest. Allows the marital deduction of the estate tax to exceed 50 percent of the value of the adjusted gross estate when an interest in a specially defined small business is included in the estate. Title II: Small Business Growth Incentives - Allows a taxpayer to choose the cash method of accounting in any case where inventory is an income determining factor and the ending inventory for the taxable year does not exceed $200,000. Provides a deferred tax credit against taxable income for unincorporated businesses. Establishes a graduated investment tax credit. Amends the definition of a small business corporation to allow domestic corporations with up to 20 shareholders (presently, ten) to qualify for subchapter S treatment. Allows a small business to make a subchapter S election at any time during the taxable year. Allows to a business a credit equal to 50 percent of the wages paid during the taxable year to new employees, up to two employees and $20,000 for the taxable year. Allows a similar credit for new disadvantaged employees up to a maximum of $60,000 per taxable year. Allows the practical cost recovery method to be used in computing depreciation. Title III: Small Business Tax Simplification - Allows a corporation to file an application for refund of overpayment of estimated income tax at any time during the taxable year. Provides a special rule for treatment of net operating loss adjustments in the case of new corporations. Increases the minimum credit on accumulated earnings from $150,000 to $500,000. Redefines "section 1244 stock" to mean common stock in a corporation if: (1) such corporation during its preceding taxable year derived more than 50 percent of its aggregate gross receipts from sources other than royalties, rents, dividends, interest, annuities, and sales or exchanges of stock or securities; and (2) the equity capital of such corporation does not exceed $1,000,000. Increases the losses on section 1244 stock which may be treated as ordinary losses (rather than capital losses) from $25,000 to $50,000.

Bill· HRH.R. 13876 (94th)referred

International Banking Act

United States · United States Congress · 18 May 1976

International Banking Act - Allows a foreign bank to establish and operate a Federal branch or agency in any State in which it is not prohibited for a foreign bank to establish a branch, upon receipt or certification of authority from the Comptroller of the Currency. Allows the Comptroller to waive the requirement of citizenship in the case of not more than a minority of the total number of directors of a national bank. Requires the Comptroller, in issuing certificates of authority, to consider the effect of the branch on the domestic or foreign commerce, future prospects of the bank, and the needs of the community. Allows a foreign bank to convert any branch operated pursuant to State law into a federally-certified branch to be operated under this Act, with the approval of the Comptroller. Terminates the authority to operate a Federal branch when: (1) the parent bank voluntarily relinquished it; (2) the parent bank is dissolved; or (3) the Comptroller has reasonable cause to believe that a foreign bank has not complied with the provisions of this Act and revokes the authority to operate a Federal branch. Sets forth the assets which foreign banks are required to keep on deposit before the Federal branch may accept deposits of United States residents or businesses. Prohibits foreign banks from retaining interests in non-banking companies or from participating in non-banking activities with specified exceptions. Requires the Secretary of the Treasury to issue guidelines with respect to the banking operations of foreign banking organizations in banking in the United States. Requires each foreign bank that maintains an office other than a branch or agency in a State to register with the Secretary of the Treasury.

Bill· HRH.R. 13567 (94th)referred

A bill to amend the Small Business Act and the Small Business Investment.

United States · United States Congress · 5 May 1976

Title I: Authorizations and Limitations - Amends the Small Business Investment Act of 1958 to increase the appropriation for surety bond guarantees from $35,000,000 to $71,000,000. Increases from $6,000,000,000 to $8,000,000,000 the amount appropriated for the business loan and investment fund of the Small Business Administration. Increases from $450,000,000 to $525,000,000 the amount appropriated for economic opportunity loans. Increases the funds for Small Business Investment Companies from $725,000,000 to $1,100,000,000. Authorizes appropriations and sets program levels for various programs under the Small Business Act for fiscal years 1978 and 1979. Title II: Micellaneous Conforming and Technical Amendments - Requires that reports to the President and Congress concerning minority small businesses include: the proportion of loans and other assistance under this Act; the goals of the Administration for the next fiscal year with respect to such concerns; and recommendations for improving assistance. Title III: Amendments to Small Business Administration Loan Authority - Amends the Small Business Act to allow loans to be used for the financing of residential or commercial construction or rehabilitation for sale. States that no payments will be required of the small business while payments are being made by the Small Business Administration pursuant to the assumption of such business's obligation or while the Administration has suspended payment on its own loan. Limits the period of such assumption or suspension to five years. Sets the prerequisites for receiving the loan and the conditions for repayment of such loan. Provides for assistance to small business concerns which are engaged in the production of food or fiber, ranching, and raising of livestock, acquaculture and all other farming and agricultural related industries. Increases from $350,000 to $500,000 the limit on loans for regular businesses. Increases from $50,000 to $100,000 the limit for economic opportunity loans. Increases the limit for development company loans. Amends the Small Business Investment Act and the Small Business Act to state that no loans for plant acquisitions shall exceed specified time periods. Title IV: Amendments to Small Business Administration Disaster Loan Authority - Expands the coverage of disaster loans to situations which the Small Business Administration determines to be disasters and where no disaster has been declared upon the certification by the Governor of a State to the Small Business Administration that small business concerns have suffered economic injury as a result of such disaster and that financial assistance is not available on reasonable terms in the disaster-stricken area. Requires the President to undertake a comprehensive review of all Federal disaster loan authorities and to report to the Congress concerning the most effective and efficient delivery of disaster relief. States that the interest rate on the Administration's share of any loan made under this subsection shall not exceed three percent and in specified cases shall not be higher than two and three quarters percent. Title V: Certificate of Competency - Amends the elements to be considered in certification of any small business for the receipt or performance of a specific Government contract. Requires that final disposition of contract awards be made by the Administration. Describes the role of Government procurement officers and officers engaged in the sale and disposal of Federal property. Title VI: Financing of Pollution Control Facilities - Authorizes the Small Business Administration, whenever it determinizes that small business concerns are, or are likely to be, at an operational or financial disadvantage with other business concerns with respect to the planning, design or installation of pollution control facilities, or the obtaining the financing therefor, to guarantee the payment of rentals or other amounts due under qualified contracts. Provides that any such guarantee may be made or effected either directly or in cooperation with any qualified surety company or other qualified company through a participation agreement with such a company. Permits the Administration to fix a uniform annual fee for any guarantee issued under this title and to require that measures be followed in connection with the guarantee of rentals in order to minimize financial risk assumed by the guarantee. Creates a separate fund for guarantees within the Treasury for guarantees which shall be available to the Administrator without fiscal limitations as a revolving fund. Authorizes to be appropriated amounts sufficient to provide the Capital for such fund. Title VII: Chief Counsel for Advocacy - Creates within the Small Business Administration an Office of Advocacy. States the functions of such Office which include receipt of complaints, criticism, and suggestions concerning the policies and activities of the Administration and the resolution of problems concerning the relationship of the small business to the Federal Government. Requires the Office of Advocacy to report to the Congress and the President not later than six months after enactment of this title. Authorizes $1,000,000 to be appropriated to carry out the provisions of this title.

Bill· HRH.R. 13526 (94th)referred

A bill to grant a Federal Charter to the International Veteran Boxes Association.

United States · United States Congress · 4 May 1976

Grants a Federal charter to the International Veteran Boxers Association. States that the purposes of the corporation are to promote the general welfare of active and retired veteran boxers and to stimulate, preserve, and defend the sport of boxing. Stipulates the nonpolitical nature of the corporation. Requires the corporation to maintain complete books and records and to make such records available for inspection by any member entitled to vote. Grants to the corporation the exclusive right to use the name the "International Veteran Boxers Association."

Bill· HRH.R. 13490 (94th)passed

Olympic Winter Games Authorization Act

United States · United States Congress · 30 April 1976

Olympic Winter Games Authorization Act - Directs the Secretary of Commerce to provide grants to the Lake Placid 1980 Olympic Games, Incorporated, at such times, and under such conditions as he considers necessary and appropriate, for assisting in the planning, design, and construction of the necessary winter sports and supporting facilities in connection with the XIII international Olympic winter games. Requires the Secretary to take necessary action to assure that the facilities constructed with Federal assistance will be designed to provide maximum continued public use and benefit following the completion of the 1980 Olympic winter games. Requires the Secretary to submit interim reports to the Congress on the progress of the design and construction of facilities pursuant to this Act, together with any recommendations for further Federal Government involvement to assure a successful staging of such games. Specifies that a final report shall be submitted following completion of the 1980 games. Authorizes appropriations to the Secretary of $49,040,000 for grants and $250,000 for the administration of this Act.

Bill· HRH.R. 13232 (94th)referred

A bill to establish a Commission on the Humane Treatment of Animals.

United States · United States Congress · 13 April 1976

Establishes an 11 member Commission on the Humane Treatment of Animals to study the treatment of animals. Requires that the membership include zoologists, veterinarians, and representatives from humane societies. Requires the Commission to determine if animals are caused needless pain or suffering as a result of their treatment: (1) on farms; (2) in zoos; (3) in laboratory experimentation; and (4) in other situations. Excludes the study or treatment of animals occurring in connection with the exercise of any religion. Directs the Commission to report its findings to the Congress and the President within two years after its last member is appointed. Terminates the Commission 60 days after it submits its final report. Authorizes appropriaions of $750,000 per year to carry out the provisions of this Act.

Bill· HRH.R. 13125 (94th)referred

A bill to amend the Export Administration Act of 1969 to strengthen the antiboycott provisions of such act, to amend the Securities Exchange Act of 1934 to enhance investor disclosure provisions of that act.

United States · United States Congress · 8 April 1976

Title I: Foreign Boycotts - Foreign Boycotts Act - Makes it the policy of the United States to oppose, under the provisions of the Export Administration Act, restrictive trade practices or boycotts imposed by foreign countries against any domestic concern of the United States. Provides for the promulgation of rules by the Secretary of Commerce to require that any domestic concern which receives a request for the furnishing of information on the signing of agreements which have the effect of furthering or supporting restrictive trade practices or boycotts by foreign countries to transmit to the Secretary a report stating specified information. Authorizes the Secretary to impose a civil penalty of up to $10,000 for violations of the requirements of this Act. Title II: Disclosure - Domestic and Foreign Investment Improved Disclosure Act - Requires notification, under the Securities Exchange Act of 1934, by any investor of a proposed acquisition of more than five percent of the equity securities of any United States companys, within ten days after such acquisition, to the issuer of the security, the exchange where it is traded, and the Securities and Exchange Commission. Sets forth requirements for the statement to be filed with the Commission including: (1) the background, identity, residence, and nationality of such owner and any other person on whose behalf the purchases are to be effected; (2) the source and amount of the funds or other consideration used in making the purchase; (3) the purpose of the acquisition; and (4) the number of shares which are beneficially owned. Grants the Commission authority to seek injunctive relief as it deems necessary and appropriate to secure compliance with this Act.

Bill· HRH.R. 12714 (94th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that for purposes of the personal exemption deduction a handicapped individual who is employed or receiving training as a sheltered workshop shall be treated the same as a student at an educational institution.

United States · United States Congress · 23 March 1976

Amends the Internal Revenue Code to allow a taxpayer to take a personal exemption for a dependent who is a handicapped individual participating in a sheltered workshop.

Bill· HRH.R. 12660 (94th)referred

A bill to amend the Land and Water Conservation Fund Act of 1965, as amended and to amend the act of October 15, 1966, to establish a program for the preservation of additional historic properties throughout the Nation, as amended.

United States · United States Congress · 18 March 1976

Title I: Amends the Land and Water Conservation Fund Act of 1965 to increase the amount of appropriations authorized under such Act to $300,000,000 for fiscal year 1977, $450,000,000 for fiscal year 1978, $625,000,000 for fiscal year 1979, and $800,000,000 for each fiscal year thereafter through fiscal year 1989. Revises procedures for the apportionment of land and water conservation fund moneys to States by the Secretary of the Interior. Imposes public participation requirements with respect to the preparation of comprehensive statewide outdoor recreation plans. Authorizes Federal financial assistance for the planning and development of sheltered facilities for swimming pools and ice skating rinks, provided specified conditions are met. Title II: Amends the National Historic Preservation Act of 1966 to establish a historic preservation fund in the United States Treasury. Stipulates that $24,400,000 for fiscal year 1977, $75,000,000 annually for fiscal years 1978 and 1979 and $100,000,000 annually for each fiscal year thereafter until fiscal year 1989 be covered into the fund from revenues due and payable to the United States under the Outer Continental Shelf Lands Act and other Federal Mining laws. Stipulates that such moneys shall remain available until appropriated to carry out the purposes of the National Historic Preservation Act of 1966. Authorizes the appropriation of $175,000 per year for fiscal years 1977,1978, and 1979 for the International Center for the Preservation and Restoration of Cultural Property.

Bill· HRH.R. 12524 (94th)referred

A bill to amend section 520 of the Housing Act of 1949 for the purposes of mandating that the Secretary of Housing and Urban Development consider only the availability of credit to lower- and moderate-income income families in determining whether an area with between 10,000 and 20,000 people is a rural area as defined in such section.

United States · United States Congress · 15 March 1976

Amends the Housing Act of 1949 to expand the definitions of "rural" and "rural areas" to include places not part of or associated with an urban area which have a population of between 10,000 and 20,000 people and which have a serious lack of mortgage credit for lower- and moderate-income families.

Bill· HRH.R. 12360 (94th)referred

A bill to amend title 23 of the United States Code relating to highways to provide that all sections of the officially designated National System of Interstate and Defense Highways shall become toll free for public use.

United States · United States Congress · 9 March 1976

Declares it to be the sense of Congress that all portions of the officially designated National System of Interstate and Defense Highways be free from tolls. Provides that each State having any portion of a free or toll highway, bridge or tunnel which is part of the Interstate System shall be entitled to receive additional funds from the Highway Trust Fund for the removal of such toll facilities and the completion of the Interstate System within such State . Directs the Secretary of Transportation to deliver to Congress an estimate of the September 30, 1977, depreciated value of toll and free facilities incorporated into the Interstate System. Specifies criteria for determining such depreciation value. Allows a reimbursement of 90 percent of such depreciated value for States which remove tolls or presently operate free highway facilities. Decreases Federal-aid highway apportionments for States not electing to eliminate tolls from facilities within the Interstate System. (Adds 23 U.S.C. 156)

Bill· HRH.R. 12096 (94th)referred

A bill to amend the Small Business Act to provide that determinations by the administration of the reasonable assurance of repayment of prospective loans be made on a case-by-case basis and to clarify the eligibility of small business homebuilding firms for assistance under the Small Business Act.

United States · United States Congress · 25 February 1976

Amends the Small Business Act to revise the eligibility requirements for small business home-building firms for assistance under the Act. Stipulates that determinations by the Small Business Administration of the reasonable assurance of repayment of prospective loans shall be made on a case- by-case basis.

Bill· HRH.R. 11853 (94th)referred

A bill to amend the Internal Revenue Code of 1954 to provide a tax credit with respect to housing senior citizens in the principal residence of the taxpayer.

United States · United States Congress · 10 February 1976

Amends the Internal Revenue Code to allow a limited tax credit in an amount of $250 for each individual who is at least 61 years of age before the beginning of the taxable year, whose principal place of abode during the taxable year is the principal residence of the taxpayer, and who is not a lodger with the taxpayer.

Resolution· HRESH.Res. 985 (94th)referred

A resolution expressing the sense of the House that further aid to Angola should be withheld until approved by Congress.

United States · United States Congress · 27 January 1976

Expresses the sense of the House of Representatives that the people of Angola should be allowed to determine their own political future without foreign interference. Expresses support for efforts by the Organization of African Unity to achieve a settlement of the conflict in Angola. Calls upon all countries to terminate military assistance to any group in Angola. States that the President should do his utmost to seek an agreement among the various parties involved in hostilities or in the support of such hostilities in Angola to terminate such hostilities. Directs the President to refrain from providing assistance of any kind, for military activities in Angola, until specifically approved by Congress.

Bill· HRH.R. 11503 (94th)referred

Emergency Financial Assistance Corporation Act

United States · United States Congress · 26 January 1976

Emergency Financial Assistance Corporation Act - Creates a body corporate to be known as the Emergency Financial Assistance Corporation to make and guarantee long-term loans at reasonable interest rates: (1) to State and local governments for public works and facilities; (2) to individuals and corporations to establish new businesses and industries and to expand or otherwise improve existing businesses and industries; and (3) to public agencies and private nonprofit and limited dividend corporations for the construction of low-and-moderate income housing, in order that vital public services may be provided, the health and welfare of our people will be safeguarded, and a full employment economy will be achieved. Provides that the Corporation shall have a capital stock of $1,000,000,000 subscribed by the United States, payment for which shall be subject to call in whole or in part by the Board of Directors. Authorizes the Corporation to issue rates, debentures, bonds, and other evidences of indebtedness up to an aggregate amount of 20 times the paid-in-capital stock of the Corporation at that time. Authorizes the Corporation to make direct loans and guarantees to State and local governments, direct loans for the benefit of business and industry, and loans for low-and-moderate income housing projects. Exempts the Corporation from the taxing authority of the United States or any State or local government. Authorizes to be appropriated to the Secretary of the Treasury $1,000,000,000 to finance the purchase of Corporation stock.

Bill· HRH.R. 11395 (94th)referred

A bill to amend title 23 of the United States Code relating to highways to provide that all sections of the officially designated National System of Interstate and Defense Highways shall become toll free public use.

United States · United States Congress · 20 January 1976

Declares it to be the sense of Congress that all portions of the officially designated National System of Interstate and Defense Highways be free from tolls. Provides that each State having any portion of a free or toll highway, bridge or tunnel which is part of the Interstate System shall be entitled to receive additional funds from the Highway Trust Fund for the removal of such toll facilities and the completion of the Interstate System within such State . Directs the Secretary of Transportation to deliver to Congress an estimate of the September 30, 1977, depreciated value of toll and free facilities incorporated into the Interstate System. Specifies criteria for determining such depreciation value. Allows a reimbursement of 90 percent of such depreciated value for States which remove tolls or presently operate free highway facilities. Decreases Federal-aid highway apportionments for States not electing to eliminate tolls from facilities within the Interstate System. (Adds 23 U.S.C. 156)