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Official portrait of Rep. Holland, Kenneth L. [D-SC-5]

Rep. Holland, Kenneth L. [D-SC-5]

United States · Official source

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547 records where Rep. Holland, Kenneth L. [D-SC-5] is listed as a sponsor, author, or other actor. Search with topics and years

Bill· HRH.R. 5113 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to reduce the rate of certain taxes paid to the Virgin Islands on Virgin Islands source income, and for other purposes.

United States · United States Congress · 3 December 1981

Amends the Internal Revenue Code to reduce to ten percent the income tax rate on Virgin Islands source income and provide for corresponding reductions in tax withholding. Provides that limitations on the foreign tax credit shall not apply to taxes paid to the Virgin Islands on Virgin Islands source income.

Bill· HRH.R. 5048 (97th)referred

A bill to amend the Currency and Foreign Transactions Reporting Act to authorize the payment of compensation to informers.

United States · United States Congress · 19 November 1981

Amends the Currency and Foreign Transactions Reporting Act to authorize the Secretary of the Treasury to pay a reward to any individual who provides original information that leads to the recovery of a criminal fine, civil penalty, or forfeiture, which exceeds $50,000, for any violation of such Act. Authorizes appropriations as may be necessary to carry out the provisions of this Act.

Bill· HRH.R. 5044 (97th)referred

A bill to amend the Currency and Foreign Transactions Reporting Act to provide for more efficient enforcement of the provisions of such Act by making it illegal to attempt to export or import large amounts of currency without filing certain reports.

United States · United States Congress · 19 November 1981

Amends the Currency and Foreign Transactions Reporting Act to require persons attempting to export or import cash in an amount over $10,000 to file reports prior to departing from, or arriving in, the United States.

Bill· HRH.R. 5004 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.

United States · United States Congress · 17 November 1981

Amends the Internal Revenue Code to revise requirements for the tax deferral of amounts received under variable annuity contracts. Permits the use of an independent investment manager of such annuities. Allows the like-kind exchange of one annuity contract for another. Provides that the tax treatment of any payment made by a contract holder on or before September 25, 1981, shall be determined without regard to Revenue Ruling 81-225 (disallowing tax deferral of amounts received under certain variable annuity contracts).

Law· HRH.R. 4961 (97th)enacted

Tax Equity and Fiscal Responsibility Act of 1982

United States · United States Congress · 13 November 1981

Miscellaneous Revenue Act of 1981 - Amends the Internal Revenue Code to provide that the limitations placed on income tax deductions for expenses in connection with the business or rental use of a home shall not apply to rentals to a family member or a person who has an interest in the dwelling unit pursuant to a shared equity financing agreement if such person pays a fair rental and uses such residence as his principal place of residence. Defines "shared equity financing agreement" for purposes of this Act. Permits reasonable litigation costs, including attorneys' fees, to be awarded to the prevailing party (other than the United States or a creditor of the prevailing party) in any civil proceeding in any court of the United States for the determination, collection, or refund of any tax, interest, or penalty imposed under the Internal Revenue Code if it is determined that the position of the United States was unreasonable. Requires such party to have exhausted the available administrative remedies within the Internal Revenue Service. Disallows costs of proceedings involving declaratory judgments, except those involving the revocation of an organization's status as a tax-exempt public charity. Includes as attorneys' fees any amounts paid to an individual who is not an attorney but who is authorized to practice before the Tax Court. Defines "prevailing party" as a party who substantially prevails with respect to the amount in controversy or the most significant issue or set of issues. Disqualifies costs of proceedings commenced after September 30, 1984. Increases from $500 to $5,000 the maximum penalty for instituting Tax Court proceedings for purposes of delay and imposes such penalty for the bringing of proceedings which are frivolous or groundless. Revises the test for whether proceedings are brought for purposes of delay. Exempts accrual basis taxpayers from the application of tax rules limiting the acceleration of accrual of taxes by a taxing jurisdiction if they so elect or if they were not liable for any tax prior to the effective period of acceleration. Sets forth rules for the accounting of accruals in the case of taxpayers who make such an election. Revises the formula used for purposes of the personal holding company tax to determine whether the sum of the deductions directly allocable to the conduct of a lending or finance business allows the exclusion of such a business from the definition of a personal holding company. Increases from 60 to 144 months the limitation on the maturity of commercial paper and loans dealt in or made by a lending or finance business. Excepts from the definition of "lending or finance business" the making of loans, notes, or installment obligations under open end credit agreements. Amends the Tax Reform Act of 1976 to defer until 1984 the effective date of special rules limiting net operating loss carryovers. Amends the Energy Tax Act of 1978, with respect to refunds resulting from the repeal of the manufacturers excise tax on buses, to extend to December 31, 1982, the period for reimbursement of tax to the ultimate purchaser and revise requirements regarding proof of reimbursement.

Bill· HRH.R. 4930 (97th)open

National Petroleum Supply Evaluation Act of 1981

United States · United States Congress · 10 November 1981

National Petroleum Supply Evaluation Act of 1981 - Amends the Energy Policy and Conservation Act to direct the Secretary of Energy, in consultation with others, to investigate the impacts of acquisitions of domestic petroleum companies by major international concerns and to report to Congress concerning such investigation by May 1, 1982. Requires the investigation to evaluate the effect of such acquisition on the exploration, development, production, refining, transportation, distribution, and marketing of domestic petroleum supplies. Prohibits any major international energy concern from acquiring more than five percent of any domestic petroleum company between October 1, 1981, and June 30, 1982.

Bill· HJRESH.J.Res. 350 (97th)failed

A joint resolution proposing an amendment to the Constitution altering Federal budget procedures.

United States · United States Congress · 29 October 1981

Constitutional Amendment - Requires Congress, prior to each fiscal year, to adopt a statement of receipts and outlays for that year in which total outlays are no greater than total receipts. Permits Congress in such statement to provide for a specific excess of outlays over receipts by a three-fifths vote directed solely to that subject. Prohibits total receipts for any fiscal year set forth in such statement from increasing by a rate greater than the rate of increase in national income in the last calendar year ending before such fiscal year, unless Congress passes a bill directed solely to approving specific additional receipts and such bill has become law. Permits Congress to waive the provisions of this Act with respect to any fiscal year in which a declaration of war is in effect. Prohibits the Congress from requiring that the States engage in additional activities without compensation equal to the additional costs. Declares that total receipts shall include all receipts of the United States, except those derived from borrowing and total outlays shall include all outlays of the United States except those for repayment of debt principal.

Law· HJRESH.J.Res. 348 (97th)enacted

A joint resolution to provide for the awarding of a special gold medal to Her Majesty Queen Beatrix in recognition of the 1982 Bicentennial anniversary of diplomatic and trade relations between the Netherlands and the United States.

United States · United States Congress · 26 October 1981

Authorizes the President to present, on behalf of the Congress, a specially struck gold medal to Queen Beatrix of the Netherlands in recognition of the bicentennial anniversary of diplomatic and trade relations between the Netherlands and the United States. Authorizes the Secretary of the Treasury to coin and sell bronze duplicates of such medal. Authorizes appropriations.

Resolution· HCONRESH.Con.Res. 206 (97th)open

A concurrent resolution endorsing certain family planning principles and urging the President to take certain actions in support of family planning both in the United States and abroad.

United States · United States Congress · 21 October 1981

Gives the endorsement of Congress to the principles relating to family planning set forth in a resolution adopted by the World Conference of the United Nations Decade for Women. Urges the President to take steps to implement those principles in the United States and in other countries.

Bill· HRH.R. 4786 (97th)referred

Bankruptcy Improvements Act of 1981

United States · United States Congress · 20 October 1981

Bankruptcy Improvements Act of 1981 - Amends title 11 of the United States Code (Bankruptcy) to establish an eligibility test for liquidation bankruptcy relief based on the individual petitioner's ability to pay a reasonable portion of his debts out of future income. Permits the court to dismiss a bankruptcy case under chapter 7 (liquidation) upon the motion of any party in interest filed not later than 30 days after the meeting of creditors, and after notice and a hearing, if the debtor is ineligible for relief under such title. Requires the bankruptcy judge to preside at any meeting of creditors and to perform such additional judicial duties any may be required. Declares that the value of the creditor's interest in the estate's interest in such property shall be determined in light of the purpose of the valuation and of the proposed disposition or use of such property, and in conjunction with any hearing on such disposition or use or on a plan affecting such creditor's interest. Declares that the value of consumer goods which the debtor seeks to redeem in liquidation shall be presumed to be the established resale market price, if such market exists. Requires the debtor in bankruptcy cases to file a statement of income and expenses. Requires the debtor, if the debtor's schedule of assets and liabilities includes consumer debts which are secured by property of the estate, to file and serve upon each creditor holding such security and the trustee, a statement expressing the debtor's intention with respect to retention or surrender of the collateral. Requires the debtor, at or before the meeting of creditors provided for by such title, to perform his intention with regard to such secured creditors. Repeals the provisions concerning exempt property and makes the States responsible for establishing exemptions to bankruptcy proceedings. Makes any debt which was incurred on or within 90 days before the date of the filing of a petition under such title nondischargeable. Allows creditors to enforce liens which have not been voided in bankruptcy. Permits reaffirmation of consumer debts subject to the debtor's right to rescind any such agreement within 60 days or until a discharge is received, whichever occurs later, by giving a written notice of rescission to the creditor. Declares that at the meeting of creditors the court shall inform the debtor of the nature and effect of a discharge. Eliminates the trustee's power to avoid liens or recover payments made within 90 days of filing petition in bankruptcy (within one year in the case of an insider) unless the creditor had reasonable cause to believe the debtor was insolvent. Permits the court, upon notice and hearing, to require a creditor to accept payments in redemption of the value of a claim secured by a nonpossessory, nonpurchase money security interest in tangible personal property, over a reasonable period not to exceed five years, if such tangible personal property consists of specified objects. Allows a creditor, upon 10 days notice to the debtor and codebtor, to collect any portion of a debt from the codebtor which is not being paid by the debtor through the adjustment of debts of such debtor with a regular income. Requires payments under an adjustment of debts payment plan to commence at the time of the filing of the plan. Provides for the return of such funds after deducting the costs of administration if no plan is confirmed. Provides for the separate classification of co-debtor claims and non-dischargeable claims and authorizes payment of them under an adjustment of debts payment plan. Allows a debtor to choose such a repayment plan of up to five years. Bases such repayment upon the debtor's ability to repay out of future income after taking into account the basic living necessities for the debtor and dependents. Provides for an early discharge of debts where at least 70 percent of all allowed unsecured claims are paid. Permits a hardship discharge of otherwise non-dischargeable debts to the extent the debtor attempted to pay such debts under an adjustment of debts payment plan.

Bill· HRH.R. 4592 (97th)open

A bill to amend the Internal Revenue Code of 1954 to eliminate the withholding requirements with respect to gambling winnings, to provide that information returns with respect to gambling winnings shall be required only in cases of payments of 10,000 or more, and to allow a 3-year carryover of net gambling losses.

United States · United States Congress · 24 September 1981

Amends the Internal Revenue Code to repeal the withholding tax requirements with respect to gambling winnings. Requires information returns for gambling winnings for payment of $10,000 or more. Provides a three year carryover and carryback for net gambling losses.

Bill· HRH.R. 4572 (97th)open

National Usury Act

United States · United States Congress · 23 September 1981

National Usury Act - Establishes the legal rate of interest at a semiannual declining scale of between 15 and ten percent per year. Provides that, except with respect to loans of less than $2,500 made by petty loan companies or credit unions: (1) any agreement to charge interest in excess of ten percent per year on a loan of more than $300 is void as to the excess interest which may be recovered by the borrower; and (2) any partial payment on a debt must be first applied to the interest due. Prohibits the defense of usury in any debt recovery action. States that insurance premiums required to be paid under a secured loan agreement shall not exceed those required under similar nonloan policies. Sets forth provisions governing the application of the legal rate of interest to judgments. Requires persons engaged in the business of financing loans on personal property sold by dealers to purchasers on credit to pay interest at five percent per year on any reserve withheld from the dealer under the contract for financing. Makes such amount due immediately upon the close of the loan account. Requires that dealers receive biannual reserve accounts reports. Establishes a fine for dealer financing violations. Requires the board of directors of any institution which deals in bills of exchange to fix and make public the exchange rates. Prohibits officers of these institutions from deviating from such rates. Sets forth provisions governing secured and unsecured installment loans given by banks, trust companies, and combined banks and trust companies.

Bill· HRH.R. 4576 (97th)referred

Rural Enterprise Zone Development Act of 1981

United States · United States Congress · 23 September 1981

Rural Enterprise Zone Development Act of 1981 - Title I: Declares the purpose of this Act to be to provide financial and technical assistance and tax incentives to help restore distressed rural areas. Amends the Agricultural Act of 1961 to define "rural enterprise zone" (zone) as an area under at least one local government's jurisdiction with a population density of less than 200 people per square mile and a total population of between 5,000 and 50,000 people. Requires a local entity to submit a zone plan to the Secretary of Agriculture for approval. Authorizes the Secretary to make: (1) development facility grants; (2) vocational education and agricultural extension service center loans; and (3) industrial and commercial activity loans and loan guarantees. Limits the number of annual zone designations. Authorizes appropriations for fiscal years 1983-1984. Authorizes the Secretary of Commerce to make technical assistance grants and provide related aid to rural enterprise zones. Authorizes appropriations for fiscal years 1983-1984. Title II: Tax Incentives for Small Businesses Located in Rural Enterprise Zones - Small Rural Business Program Tax Act of 1981 - Subtitle A: Designation of Eligible Areas and Businesses - Amends the Internal Revenue Code to add a new subchapter which sets forth criteria for the designation of rural enterprise zones and defines qualified small rural businesses for purposes of providing tax incentives for such businesses. Empowers the Secretary of Agriculture to approve the designation of an area as a rural enterprise zone if a local government submits to the Secretary a plan which meets specified requirements for the establishment of such zones. Limits the number of zones which the Secretary may designate in any calendar year. Sets forth criteria relating to population, poverty, unemployment, and per capital income growth which the Secretary must consider in approving the designation of a rural enterprise zone. Defines a "qualified small rural business" (small rural business) as an actively conducted trade or business which employs individuals who perform a specified number of hours of service for the business in a rural enterprise zone. Disqualifies any business which has had gross receipts in excess of $2,000,000 for any of the three preceding taxable years. Subtitle B: Tax Incentives for Qualified Small Rural Businesses - Amends the Internal Revenue Code to reduce the capital gains tax rates of small rural businesses and investors in rural enterprise zones. Exempts the capital gains of small rural businesses from the minimum tax. Excludes from gross income 50 percent of the total of small rural business income for a taxable year and interest on loans made to such businesses to finance business activity in a rural enterprise zone. Allows small rural businesses a five percent tax credit for interest paid on loans used to finance business activity in a rural enterprise zone. Allows a targeted jobs income tax credit for the hiring of employees for a small rural business. Allows a small rural businesses and their employees a refundable income tax credit for training designed to improve the technical and managerial skills of such employees. Allows a small rural business to elect to use the cash method of accounting. Authorizes accelerated depreciation for small rural business property. Increases by ten percent the investment tax credit for the rehabilitation expenditures of a small rural business.

Bill· HRH.R. 4400 (97th)open

Mobile Source Clean Air Act Amendments of 1981

United States · United States Congress · 4 August 1981

Mobile Source Clean Air Act Amendments of 1981 - Title I: Amendments to Title II - Amends title II of the Clean Air Act (Emission Standards for Moving Sources, also known as the "National Emission Standards Act") to provide that where any national ambient air quality standard is established pursuant to such Act for any pollutant, the standard applicable to the emissions of such pollutant shall relate to the achievement of the national ambient air quality standard. Directs the Administrator of the Environmental Protection Agency, in prescribing any such standard, to consider specified factors, including compliance costs, potential inflationary or recessionary effects, and effects on small business competition, consumer costs, and energy use. Requires that more stringent standards shall not become effective for at least: (1) 48 months after final prescription, in the case of heavy-duty vehicles or engines; and (2) 36 months after final prescription, in the case of all other new motor vehicles or engines. Repeals requirements that standards reflecting the greatest degree of emission reduction achievable through application of available technology be contained in regulations applicable to: (1) emissions of carbon monoxide, hydrocarbons, and nitrogen oxides from heavy-duty vehicles or engines manufactured during model years 1979 through 1982; and (2) emissions of particulate matter from vehicles manufactured during and after model year 1981 (or during any earlier model year, if practicable). Repeals requirements that regulations applicable to vehicles or engines manufactured during and after model year: (1) 1983 require a reduction of at least 90 percent of hydrocarbon and carbon monoxide emissions; and (2) 1985 require reduction of at least 75 percent of nitrogen oxides emissions. Provides for notice and opportunity for comment before the Administrator determines that any emission control device, system, or element of design will cause or contribute to an unreasonable risk to public health, welfare, or safety (and therefore may not be used to comply with emission standards). Directs the Administrator to include specified information obtained from manufacturers in making such determination. Excludes methane from any hydrocarbon standard for motor vehicle emissions under such Act. Directs the Administrator to establish an appropriate allowance applicable to the exhaust hydrocarbon standard for those vehicles and engines that emit low levels of evaporative hydrocarbon emissions, except that measurement of such emissions shall not be required in specified new vehicle or motor compliance tests. Revises provisions for regulations applicable to emissions from light-duty vehicles and engines. Eliminates the requirement that regulations applicable to such vehicles manufactured during or after model year 1981 require: (1) reduction of at least 90 percent of carbon monoxide and hydrocarbons emissions from those allowable under standards applicable to 1970 models; and (2) limitation of nitrogen oxides emissions to one gram per vehicle mile. Provides also that regulations applicable to such vehicles manufactured during or after model year 1982 shall not contain standards more stringent than 0.39 grams per vehicle mile of non-methane exhaust hydrocarbons (exclusive of allowances for evaporative hydrocarbons), seven grams per vehicle mile of carbon monoxide, and two grams per vehicle mile of nitrogen oxides. Revises provisions relating to waivers of such standards. Replaces, as a precondition for such waivers, a determination of a potential for both long-term air quality benefit and meeting average fuel economy standards with a determination of a potential to conserve energy. Makes 500,000 units the maximum number of vehicles or engines of each model to which such waivers may apply (the current maximum is five percent of the manufacturer's production or 50,000 of such units, whichever is larger). Revises provisions relating to any future prescribed regulations affecting the manufacture, distribution, or sale of motor vehicles or engines for high altitude areas of the United States to require inclusion of exemptions prescribed for model year 1982 and to permit specified performance adjustments. Prohibits more stringent numerical standards in regulation of high altitude vehicles of any model year than those applicable to vehicles certified under non-high altitude conditions. Prohibits any regulation requiring the installation, on motor vehicles or engines intended for principal use in non- high altitude locations, of any emission controls needed to meet the applicable standards under high altitude conditions. Includes among prohibited acts the failure or refusal of any manufacturer to comply with requests by the Administrator for specified information on new light-duty motor vehicles and their use at high altitudes. Revises provisions for compliance testing and conformity certification to direct the Administrator to evaluate or to require evaluation of (but not necessarily to test or require testing of): (1) any new motor vehicle or new motor vehicle engine submitted by a manufacturer; and (2) any emission control system incorporated in a vehicle or engine submitted by any person. Prohibits the revision of any test applicable to 1981 model heavy-duty vehicles or engines until after the 1986 model year. Repeals a one-year maximum limit on the period which a certificate of conformity may cover. Directs the Administrator to establish: (1) methods and procedures for making tests for determining average emissions from vehicles; and (2) an acceptable quality level for all new motor vehicles equivalent to the level applicable to 1981 model year light-duty vehicles. Repeals a requirement that all light-duty vehicles manufactured during and after model year 1984 comply with specified emission standards regardless of the altitude at which they are sold. Revises provisions for compliance by vehicles and engines in actual use. Bases determinations of nonconformity with regulations by any class or category of vehicles and engines manufactured after a specified date upon the average performance in testing a statistically valid and representative sample. Permits manufacturers to elect to take other actions, in lieu of remedying such nonconformity, with respect to those or other vehicles or engines, consistent with the purposes of such title. Directs the Administrator to consider the effects on competition, in approving a manufacturer's plan to remedy or take other actions with respect to such nonconformity. Repeals a requirement that dealers furnish purchasers of new light-duty motor vehicles certificates of conformity with applicable emission standards, including notice of purchaser warranty rights. Repeals a requirement that the manufacturer remedy, at its own cost, any nonconformity, during a specified period, of a motor vehicle with emission standards. Revises provisions relating to: (1) State standards; and (2) high altitude performance adjustments. Provides that the foregoing amendments made by this title shall take effect with respect to vehicles and engines manufactured in model years beginning more than 60 days after the enactment of this Act. Requires that the economic impact assessment with respect to any motor vehicle emission or fuel standard or regulation under such title also contain an analysis of the noise, safety, and other factors deemed appropriate by the Administrator associated with application of any technology necessary to comply with the standard or regulation. Directs the Administrator to initiate a study and related proceedings, including appropriate informal public hearings, to: (1) develop alternative and practicable approaches to emission control of any air pollutant, subject to such regulation, from new motor vehicles or engines; and (2) evaluate the existing control program. Sets forth the factors to be considered by the Administrator concerning such new approach. Requires that a report of such study, including public comments, be submitted to the appropriate committees of the Congress within one year. Sets forth criteria for proposed regulations under any such new approach. Title II: Study and Conforming Provisions - Amends the Clean Air Act to direct the Administrator, upon the request of any national association of motor vehicle dealers with a membership which includes a majority of U. S. retail franchisers selling imported and domestic new light-duty motor vehicles, to compile data relating to the availability and distribution to dealers located at high altitudes of all models of such vehicles manufactured by any specified manufacturer in a specified model year. Authorizes the Administrator to utilize specified information and to require manufacturers to submit relevant information (except information identifying shipments to individual dealers). Directs the Administrator, within six months after such a request is made, to submit to the Congress and publish in the Federal Register a report setting forth the data so compiled, including specified information.

Bill· HRH.R. 4407 (97th)open

A bill to amend the Trade Act of 1974 in order to authorize the President to respond to foreign practices which unfairly discriminate against United States investment abroad.

United States · United States Congress · 4 August 1981

Amends the Trade Act of 1974 to authorize the President to restrict direct investment in the United States by a foreign country, its nationals or citizens, or by persons organized under its laws if the President determines such action is necessary to enforce U.S. rights under a trade agreement with such country.

Bill· HRH.R. 4402 (97th)referred

Farm Irrigation Property Tax Incentives Act of 1981

United States · United States Congress · 4 August 1981

Farm Irrigation Property Tax Incentives Act of 1981 - Amends the Internal Revenue Code to provide an additional ten percent investment tax credit for equipment which is utilized in the extraction, storage, or use of farm irrigation water.

Bill· HRH.R. 4186 (97th)referred

Mineral Lands Leasing Amendment of 1981

United States · United States Congress · 16 July 1981

Mineral Lands Leasing Amendment of 1981 - Amends the Mineral Leasing Act to prohibit, for a specified period, any foreign person from acquiring more than five percent of the voting securities in a United States mineral resources corporation. Directs the Secretary of the Interior to report to Congress concerning indirect foreign investment in mineral resources on U.S. lands.

Bill· HRH.R. 4094 (97th)referred

A bill to amend the Internal Revenue Code of 1954 to provide an additional 3 years for the completion of certain requirements necessary for the extension through 1990 of the energy investment tax credit for long-term projects.

United States · United States Congress · 9 July 1981

Amends the Internal Revenue Code, with respect to application of the energy percentage for purposes of the investment tax credit, to extend by three years the periods for completion of certain engineering and construction requirements necessary for the extension through 1990 of such credit for long-term projects.

Bill· HRH.R. 4047 (97th)referred

Wilderness Review Act of 1981

United States · United States Congress · 26 June 1981

Wilderness Review Act of 1981 - Requires that lands recommended for wilderness and lands requiring further planning for purposes of this Act be identified in an executive communication by the Secretary of Agriculture. Prohibits judicial or administrative review of the second roadless area review and evaluation (RARE II) final environmental statement dated January 1979. Requires that the following lands be managed for multiple uses other than wilderness: (1) national forest system lands not identified under this Act as land recommended for wilderness, requiring further planning, or previously designated as wilderness; (2) lands recommended for wilderness pursuant to this Act and not designated as wilderness before January 1, 1985; and (3) lands identified by this Act as requiring further planning but (a) not recommended for wilderness by the Secretary before September 30, 1985, or (b) recommended for wilderness before such date but not designated as wilderness before January 1, 1988. Prohibits the Secretary from conducting any further statewide, regional, or national roadless area review and evaluation of national forest system lands for purposes of determining their suitability as wilderness without express congressional authorization, except for lands identified pursuant to this Act as requiring further planning. Prohibits the creation of protective perimeters or buffer zones around areas designated as wilderness. Requires the Secretary to manage lands recommended for wilderness and lands requiring further planning to preserve their wilderness character. Permits the authorization of nonwilderness uses which are in the public interest for lands recommended for wilderness and the modification of wilderness recommendations by the Secretary.

Bill· HRH.R. 3973 (97th)open

Postal Service Amendments of 1981

United States · United States Congress · 18 June 1981

Postal Service Amendments of 1981 - Authorizes the United States Postal Service to issue written demands requiring access to books, records, documents, or other objects believed to relate to any postal offense or civil matter under investigation by the Postal Service. Provides for the enforcement of such a demand by the appropriate district court. Authorizes the Postal Service to issue an order requiring any person to cease and desist from conducting a lottery or scheme for obtaining money or property by false representations through the mail. Declares that the resumption of such an activity through the use of any instrumentality of interstate commerce shall be considered to be a failure to comply with such order. Permits the Postal Service, in investigating whether a person is conducting such an activity, to tender the price of any article or service that such person has offered for sale. Declares that failure by such person to provide such article or service, or failure to comply with a written demand of the Postal Service for access to materials, shall constitute probable cause to believe such person is engaged in such activities, warranting the detention of such person's incoming mail. Establishes a civil penalty to be assessed by the Postal Service, after an opportunity for an agency hearing, against any person who: (1) attempts to evade an order directing the postmaster to return mail addressed to such person; (2) fails to comply with a cease and desist; or (3) assists another person in evading such an order.

Bill· HRH.R. 3882 (97th)open

Family Enterprise Estate and Gift Tax Equity and Reduction Act

United States · United States Congress · 11 June 1981

Family Enterprise Estate and Gift Tax Equity and Reduction Act - Amends the Internal Revenue Code to reduce the estate and gift tax rates. Increases the unified credit against the estate and gift taxes from $47,000 to $103,500 by specified annual increments through 1985. Increases from $175,000 to $600,000, by specified annual increments through 1985, the minimum gross estate requirement for filing of a return. Repeals the existing limitations on the marital deduction for gift and estate taxes. Permits an election by an executor to take into account a life estate which passes to a surviving spouse for purposes of determining the marital deduction. Includes amounts equal to the value of such interests in the estate of the surviving spouse for purposes of imposition of the estate tax. Increases from $3,000 to $10,000 the annual gift tax exclusion. Revises the definition of "qualified real property," for purposes of the special use valuation, to include: (1) real property which is put to a qualified use by a member of the decedent's family; (2) certain future interests; and (3) timber. Qualifies estates of decedents who were disabled or retired for the special use valuation if such decedents materially participated in the operation of the farm or business for five out of eight years preceding the year in which they became disabled or eligible for disability benefits, under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act. Permits the spouse of a decedent to use such valuation if the spouse has managed the farm or business for ten years preceding the decedent's death or takes over active management upon the decedent's death. Qualifies the owner of a woodland for the special use valuation if the owner or a member of the owner's family actively managed the property for ten years prior to the owner's death. Includes as property qualified for the valuation certain future and partial interests. Reduces from 15 to ten years the length of time a qualified property must be held and put to a qualified use following the decedent's death before it can be disposed of without incurring a recapture of estate tax benefits. Permits active management rather than material participation as a test for qualification of the estate for spouses, children under 21, students, and disabled individuals who receive property from a decedent who qualified for special use valuation. Modifies the formula for recapture upon partial disposition of qualified property to include in the calculation of the additional tax imposed the adjusted tax difference attributable to the property disposed of or ceased to be used for a qualified use. Repeals the $500,000 limitation on the aggregate decrease in the value of property to which the special use valuation is applied. Allows the like kind exchange of property without loss of special use valuation eligibility. Permits, for purposes of calculating the five-year period required for qualification of real property, the aggregation of periods with respect to exchange property with those with respect to property included in the gross estate. Repeals the requirement that an heir elect special treatment for involuntary conversions of qualified real property, thus making such treatment automatic upon such conversion. Applies the special use valuation provisions to: (1) property which passes to a trust all of the beneficiaries of which are members of the decedent's family without regard to whether any beneficiary has a present interest in the trust; and (2) property held by a trust in which the decedent has an interest which is includible in the decedent's estate and which passes to a qualified heir as though the decedent had a direct interest in the property. Alters the method of valuing farms and woodlands and provides an alternate discount method of valuation. Expands the definition of "member of the family," for purposes of determining special use valuation eligibility, to include members of a spouse's family. Permits a parent or fiduciary of a person under a legal disability to sign an agreement to the application of recapture provisions on behalf of such person. Specifies that the estate tax deduction for certain indebtedness of an estate shall not be reduced if the value of the property is determined by applying the special use valuation. States that gifts made within three years of a decedent's death shall be valued as of the time of transfer rather than as of the date of death. Allows an individual to elect to pay a gift tax rather than use the unified tax credit. Modifies the alternate extension of time for payment of the estate tax where the estate consists largely of an interest in a closely held business to: (1) allow an installment payment election if the value of the interest in the closely held business is either 25 percent of the value of the gross estate or 35 percent of the taxable estate; (2) alter the definition of "interest in a closely held business"; (3) increase to 50 percent the value of an interest disposed of which will accelerate the payment of tax; and (4) permit payment, but with a penalty, of an installment within six months after the due date. Revises rules for determining whether property qualifies as an interest in a closely held business with respect to property included in the gross estate which is transferred prior to death and ownership of assets leased to or used by a family-owned business. Revises rules regarding the qualification of corporate distributions of property in redemption of stock which is included in a decedent's gross estate. Removes the limitation on substantially disproportionate redemptions of stock of a corporation which is a closely held business. Revises the formula for determining whether such redemptions are substantially disproportionate and the rule for determining whether a shareholder's interest in a corporation is terminated. Applies the four percent rate of interest on estate tax payments extended under the alternate extension of time provisions to the entire amount of the tax to be paid. Permits an election to value at 50 percent of its value an interest in a closely held business the net equity of which is less than $50,000,000. Imposes an additional estate tax if such interest is disposed of within ten years after the decedent's death. Allows a disclaimer of an interest in property for estate tax purposes in specified circumstances where such disclaimer does not result in the passing of the interest concerned under the applicable State law.

Bill· HRH.R. 3890 (97th)referred

Theatrical Production Investment Tax Credit Act of 1981

United States · United States Congress · 11 June 1981

Theatrical Production Investment Tax Credit Act of 1981 - Amends the Internal Revenue Code to qualify theatrical productions, to the extent of the taxpayer's ownership interest, for the investment tax credit. Excludes from the definition of "theatrical production" any presentation primarily for use on television or radio or in a night club or film. Specifies that the qualified investment, for purposes of calculating the credit, shall be 66 2/3 percent of the production costs incurred for presentation of the production in the United States and prior to its actual opening.

Bill· HRH.R. 3781 (97th)open

Missing Children Act

United States · United States Congress · 3 June 1981

Missing Children Act - Directs the Attorney General to collect and preserve information which would assist in: (1) the identification of any deceased individual who has not been identified within 30 days of his or her death; and (2) the location of any missing child who is under the age of 17, does not have a history of running away, and has been missing for at least 48 hours.

Bill· HRH.R. 3456 (97th)open

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income interest earned on certain certificates of deposit in financial institutions.

United States · United States Congress · 6 May 1981

Amends the Internal Revenue Code to exclude from gross income interest earned on certificates of deposit issued by banks, certain savings institutions, or credit unions. Requires such certificates to be issued between June 30, 1981 and July 31, 1982, to have a one year maturity, and to bear interest at a rate not greater than 70 percent of the average yield of U.S. Treasury bills. Limits the amount of such exclusion to $1,000 ($2,000 for joint returns).

Bill· HRH.R. 3442 (97th)referred

Webless Migratory Game Bird Research Fund and Permit Act

United States · United States Congress · 5 May 1981

Webless Migratory Game Bird Research Fund and Permit Act - Prohibits the hunting, shooting or killing of any webless migratory game bird without a Federal permit. Provides that such permits shall be issued pursuant to regulations prescribed jointly by the Postal Service and the Secretary of the Interior and shall be sold at post offices and any other location which the Postal Service and Secretary may jointly authorize. Sets the price for such permits at $2.00 each. Requires that all sums received from the sale of such permits shall be paid into a special fund in the Treasury to be known as the Webless Migratory Game Bird Research Fund. Provides that sums in such fund shall be available for population and habitat management, surveys and other research by the Department of the Interior concerning webless migratory game birds. Provides criminal penalties for violations of this Act or any regulations issued pursuant to this Act.

Bill· HRH.R. 3363 (97th)referred

Residential Housing Tax Incentives Act of 1981

United States · United States Congress · 30 April 1981

Residential Housing Tax Incentives Act of 1981 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, interest earned on qualified housing savings certificates. Limits such exclusion to interest earned on $100,000 certificates ($200,000 if joint return is filed). Defines "qualified housing savings certificates" as investment certificates issued by regulated depository financial institutions with three or five year maturities. Specifies that the proceeds of such certificates be applied to the financing of single-family, owner-occupied residences. Prescribes limitations on the interest rate chargeable for mortgages financed with proceeds from a qualified housing savings certificate. Disqualifies families which have income more than twice the median family income for their area from receiving a mortgage financed from proceeds from a qualified housing savings certificate. Prescribes penalties for the improper use of qualified housing savings certificates.

Bill· HRH.R. 3306 (97th)referred

A bill to encourage corporations to donate certain historical film to educational organizations by increasing the limit on the charitable contribution deduction of such corporations.

United States · United States Congress · 29 April 1981

Amends the Internal Revenue Code to increase the limit on charitable contribution deductions for corporations that donate historical film to educational organizations. Increases the percentage limitation from 5 percent to 30 percent. Requires that the donor must have held such film for nine years and that the donor contribute their entire interest in such film.

Bill· HRH.R. 3269 (97th)open

Malt Beverage Interbrand Competition Act

United States · United States Congress · 28 April 1981

Malt Beverage Interbrand Competition Act - Declares that no antitrust law shall prohibit the importer, brewer, or trademark licensee of a trademarked malt beverage from entering into an agreement granting a wholesale distributor the exclusive right to sell such beverage within any defined geographic area within a State, or limiting such distributor to the sale of such beverage for ultimate resale to consumers in that area, when such beverage has substantial competition from other malt beverages in that area. Declares that this Act shall not affect any provision of State law.

Bill· HRH.R. 3086 (97th)open

A bill to amend the Internal Revenue Code to change certain accounting rules related to inventory, and for other purposes.

United States · United States Congress · 7 April 1981

Amends the Internal Revenue Code to allow taxpayers to value excess inventory at its net realizable value. Eliminates the qualification requirement for the last-in, first-out (LIFO) method of accounting that a taxpayer use no inventory method for financial reporting or credit purposes other than the LIFO method. Allows a taxpayer who adopts the LIFO method to spread increases in taxable income attributable to such change over a ten-year period.

Bill· HRH.R. 3093 (97th)referred

Individual Savings and Investment Act of 1981

United States · United States Congress · 7 April 1981

Individual Savings and Investment Act of 1981 - Amends the Internal Revenue Code to exclude from the gross income of an individual amounts contributed to a rollover account meeting the requirements of this Act. Defines such rollover account as a trust created or organized in the United States for the exclusive benefit of an individual or his beneficiaries which: (1) accepts only cash or stock or securities of a domestic corporation contributed by such individual; (2) has as its trustee a bank or a person approved by the Secretary of the Treasury; (3) invests trust funds in stock or securities of a domestic corporation or holds them in interest-bearing bank deposits; (4) makes the interest of the individual nonforfeitable in the balance of such rollover account; and (5) permits the individual to elect, no more often than each taxable year, whether the account shall be discretionary (with investment determined by the trustee) or self-directed (with investment directed by the individual). Requires the trustee of a rollover fund to establish on its books, without segregation of assets, an ordinary income fund, a capital gain fund, and a capital fund. Specifies the contents of each fund. Includes in gross income for the taxable year in which received distributions to the recipient from the capital gain fund or from the ordinary income fund (interest and dividends received, plus net short-term capital gain). Sets forth rules for the treatment of losses, security pledges, and transfers of interest in a rollover account incident to divorce. Limits to one the number of accounts which may be maintained at one time. Requires the trustee to keep appropriate records and to file annual information returns.