United States · United States Congress · 20 November 1985
Campaign Finance Reform Act of 1985 - Amends the Federal Election Campaign Act of 1971 to: (1) increase dollar limits on personal contributions to candidates and their authorized political committees; and (2) decrease the amount one multicandidate political committee may contribute to any other political committee. Limits to $100,000 ($125,000 where two or more candidates qualify for the ballot) the aggregate amount which all multicandidate political committees may contribute to a candidate for the House of Representatives in a general or special election, including any primary election, convention, or caucus relating to such general or special election. Limits to $25,000 the aggregate amount allowed for multicandidate political committee contributions in a runoff election for the office of Representative. Establishes a formula for multicandidate political committee contributions to candidates for the Senate based upon State populations and limited to an aggregate total of $750,000. Requires multicandidate political committees which make independent expenditures for advertisements connected with a candidate's campaign to disclose such information within the advertisement. Amends the Communications Act of 1934 to require any station licensee which allows a person to broadcast material endorsing or opposing a candidate to provide the candidate opposing the endorsed candidate, or to the candidate opposed by the material, the opportunity to use the same amount of broadcasting time, without charge, during the same period of the day.
United States · United States Congress · 20 November 1985
Designates May 25, 1986, as Hands Across America Day. Authorizes and requests the President to commend: (1) United Support of Artists for Africa for their Hands Across America project; and (2) the American people for their commitment to helping people help themselves.
United States · United States Congress · 19 November 1985
Small Contribution Tax Credit Reform Act of 1985 - Amends the the Internal Revenue Code to repeal the income tax credit for contributions to presidential, state, and local candidates, political action committees, and newsletter fund contributions. Allows an income tax credit for congressional candidate contributions. Limits the amount of such credit to $100 for a taxable year ($200 in the case of a joint return).
United States · United States Congress · 31 October 1985
Civil Service Supplemental Retirement System Act of 1985 - Title I: Civil Service Supplemental Retirement System - Establishes a Civil Service Supplemental Retirement Plan for Federal employees, postal employees, and Members of Congress who began service after December 31, 1983. Sets forth provisions for the benefit plan including: (1) eligibility for an annuity after five years of creditable service; (2) entitlements to retirement based on age and years of service; (3) the formulas for computing an annuity; (4) survivor election reductions; and (5) funding. Sets forth provisions for mandatory retirement for air traffic controllers, law enforcement officers, and firefighters. Establishes a Thrift Savings Plan under which participants may contribute up to 10 percent of their annual basic pay. Requires employing agencies to contribute the lesser of: (1) 50 percent of amounts contributed by the employee; or (2) three percent of such employee's basic pay. Provides for the payment of benefits, lump sum or annuity, at the employee's separation from service. Establishes in the Treasury the Thrift Savings Fund for the deposit and accounting of amounts under the Plan. Prescribes how money in such Fund shall be invested. Describes survivor annuities under the supplemental retirement plan. Describes disability benefits for employees who have completed five years of creditable service. Sets forth general and administrative provisions. Directs the Office of Personnel Management to pay all benefits payable under the benefit plan and administer provisions not specifically assigned to another entity. Directs the Office to adjudicate all claims under provisions it administers. Provides for annual cost-of-living adjustments in basic pensions based upon an increase in the Consumer Price Index. Provides for withholding of State income taxes from retirement annuities. Declares that basic annuities, survivor annuities, and disability benefits are exempt from legal process (i.e. levy, attachment, garnishment) unless otherwise provided by Federal law. Establishes in the executive branch the Federal Retirement Thrift Investment Board to be responsible for policies and regulations for, and review of, the investment and management of the Thrift Savings Fund. Directs the Board to establish an Employee Thrift Advisory Council to advise the Board on matters relating to investment policies for the Fund. Directs the Board to appoint an Executive Director to carry out its policies, invest and manage the fund, and administer provisions of the Thrift Savings Plan. Title II: Amendments to Chapter 83 of Title 5, United States Code - Provides for civil service retirement for certain employees excluded from the supplemental retirement plan. Title III: Miscellaneous Provisions - Amends the Federal Employees' Retirement Contribution Temporary Adjustment Act of 1983 to extend its provisions until January 1, 1987. Allows employees covered under such Act to elect participation in the supplemental retirement plan. Title IV: Effective Dates - Declares this Act in effect on January 1, 1987, with specified exceptions.
United States · United States Congress · 31 October 1985
Expresses the sense of the Congress that: (1) the Postmaster General should issue a stamp, before October 1, 1986, commemorating the 100th Congress; and (2) the U.S. Postal Service should conduct a public competition for the design of the stamp.
United States · United States Congress · 30 October 1985
Designates 1986 as Save for the U.S.A. Year. Requests the President to initiate a nationwide campaign, to be known as the Buy Back America campaign, to encourage the people of the United States to buy U.S. savings bonds and certificates and thereby reduce borrowings from foreign sources. Requires the Secretary of the Treasury to enhance the marketability of such bonds and certificates.
United States · United States Congress · 24 October 1985
Expresses the sense of the Senate that the United States: (1) should not sell advanced weapons to Jordan; (2) should ensure that Israel retains its qualitative military edge in the Middle East; and (3) should focus its efforts on bringing Jordan into direct peace negotiations with Israel.
United States · United States Congress · 10 October 1985
States that a person shall be considered an American national if such person completes 15 years of lawful continuous residence in the United States or American Samoa, and one of his or her parents was a national of the United States and a resident of the United States or American Samoa at the time of that person's birth.
United States · United States Congress · 9 October 1985
Amends the Surface Transportation Assistance Act of 1982 to revise the standard used to determine the Federal share of the cost to complete a route withdrawn (upon State request) from the Interstate System. States that such Federal share shall be determined by the Secretary of Transportation based on construction cost increases for the period beginning January 1, 1986, and ending on the approval date of each substitute project.
United States · United States Congress · 1 October 1985
Amends the copyright law to make permanent the prohibition against importing certain English language books not manufactured in the United States and Canada, denying copyright protection to books imported in violation of this restriction (the manufacturing clause).
United States · United States Congress · 1 October 1985
Social Security Budget and Administrative Reorganization Act of 1985 - Title I: Establishment of the Social Security Administration - Amends title VII (Administration) of the Social Security Act to establish as an independent executive agency a Social Security Administration, headed by a Social Security Board. Provides that it shall be the duty of the Administration to administer the programs established by titles II (Old Age, Survivors and Disability Insurance) and XVI (Supplemental Security Income) of the Social Security Act. Requires the Board to study and make recommendations as to the most effective methods of providing economic security through social insurance and as to legislation and matters of administrative policy. Establishes in the Administration: (1) a Commissioner of Social Security; (2) a Deputy Commissioner of Social Security; (3) a General Counsel; (4) an Inspector General; and (5) an Office of the Beneficiary Ombudsman, to be headed by a Beneficiary Ombudsman who shall represent the interests of beneficiaries under the Old Age, Survivors and Disability Insurance program and the Supplemental Security Income Program within the Administration. Requires the annual report of the Board to include a description of the activities of the Beneficiary Ombudsman. Requires the Board to make annual budgetary recommendations relating to the Administration. Requires that appropriations requests by the Administration for staffing and personnel be based upon a comprehensive workforce plan as established by the Board. Provides for the apportionment of administrative costs. Requires the annual report of the Board to include a section reflecting the use of budget authority provided to the Administration. Requires that authority for automated data processing procurement and facilities construction be provided in the form of contract authority covering the total cost of such acquisitions. Makes amounts needed for the liquidation of contract authority so provided available from the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to the extent that such amounts are not needed to meet current obligations for benefit payments. Requires the Board and the Director of the Office of Personnel Management to implement demonstration projects relating to personnel matters. Directs the Board and the Administrator of General Services to implement such projects relating to delegations from the Administrator. Specifies the authorities which are to be delegated to the Board from the Administrator and the Director. Requires the Comptroller General to report to specified congressional committees concerning such projects, including an evaluation of the Board's readiness to assume full and permanent authority. Requires the Board to cause a seal of office to be made and judicial notice taken thereof. Provides for the transfer to the Administration of all functions carried out by the Secretary of Health and Human Services with respect to the programs and activities to be carried out by the Administration under this Act. Abolishes the position of Commissioner of Social Security in the Department of Health and Human Services. Sets forth effective date and transitional rule provisions. Title II: Conforming Amendments and Rules of Construction - Requires the Secretary and the Board to report to Congress within 120 days after the beginning of each regular session on their administration under this Act. Requires the Secretary to study and make recommendations on the most effective methods of providing economic security and on the administrative policy for the programs which he or she administers. Directs the Board to appoint, quadrennially, an Advisory Council on the Old-Age, Survivors, and Disability Insurance program and an Advisory Council on Health and Supplementary Medical Insurance to review the relation of the trust funds supporting the Old-Age, Survivors and Disability Insurance program and the Medicare program and the long-term commitments of those programs. Requires each council to submit a report to the Board for transmittal to the Congress and the Board of Trustees of each Trust Fund. Sets forth the effective dates of this title. Title III: Budgetary Treatment of Old-Age, Survivors, and Disability Insurance Program - Provides for off-budget treatment of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund beginning with FY 1987.
United States · United States Congress · 26 September 1985
Simultaneous Nuclear Test-Ban Act - Expresses the sense of the Congress that the President, before January 1, 1986, should declare that the United States will stop testing nuclear warheads and will invite the Soviet Union to meet with the United States to enter into negotiations for the conclusion of a Comprehensive Test Ban Treaty at the earliest possible date. Declares that the United States should continue the cessation of the testing of nuclear warheads so long as the Soviet Union refrains from the testing of nuclear warheads and substantive Comprehensive Test Ban Treaty negotiations are in progress. Expresses the sense of the Congress that during such cessation the President should seek resumption of the comprehensive test ban talks between the United States, Great Britain, and the Soviet Union. Prohibits the United States from obligating or spending any money for testing nuclear warheads during the six-month period beginning on January 1, 1986, if the President does not declare such a cessation of nuclear testing. Authorizes such spending if the President certifies to the Congress that the Soviet Union on or after January 1, 1986, tested a nuclear warhead. Requires the President to include in any such certification: (1) an unclassified report summarizing the basis for the certification; and (2) a classified report describing the Soviet activities that are the basis for the certification. Requires the President to report annually to the Congress on: (1) the progress in nuclear arms control negotiations with the Soviet Union; and (2) whether the President believes that continuation of the cessation of nuclear testing is in the U.S. national security interest.
United States · United States Congress · 26 September 1985
Telecommunications Trade Act of 1985 - Title I: Actions to Achieve Competitive Opportunities - Directs the U.S. Trade Representative (USTR), within six months of enactment of this Act, to identify and analyze all acts, policies, and practices in the markets of foreign countries that deny to U.S. telecommunications firms and their subsidiaries fair and equitable foreign market opportunities. Sets forth factors to be considered in making such analysis and determination. Authorizes the USTR to exclude a country from investigation if the USTR determines that the potential market in such country for U.S. telecommunications products and services is not substantial. Requires the USTR to report to the Congress within six months of enactment of this Act on such analysis and determinations. Directs the President to begin negotiations with those countries which deny U.S. telecommunications firms fair and equitable market opportunities to enter into trade agreements which provide such opportunities to U.S. telecommunications firms. Sets forth the objectives of the negotiations. Directs the President, if unable to enter into such an agreement which achieves such objectives, to take, within two years of enactment of this Act, whatever actions within certain limits are necessary to achieve such objectives. Directs the President to take those actions which most directly affect trade in telecommunications products and services with the country concerned. Sets forth the actions the President is authorized to take in such circumstances. Directs the USTR, if a country does engage in unfair trade practices, to take whatever actions within certain limits are necessary to fully offset such acts, policies, and practices, and to restore the balance of concessions between the United States and such foreign country. Requires the USTR to review annually the extent to which a foreign country's policies meet the negotiating objectives achieved by trade agreements. Directs the USTR to take specified actions if the foreign country is not in compliance with such trade agreement or has adopted an unfair trade act, policy, or practice. Sets forth the actions the USTR is authorized to take. Directs the President and the USTR to consult with the Secretary of Commerce, the Federal Communications Commission, and a specified interagency trade organization to determine appropriate actions against foreign countries. Directs the USTR to provide the opportunity for presentations of views by interested parties for purposes of identifying the objectives of trade negotiations and determining appropriate actions against foreign countries. Directs the President to keep the Congress informed of: (1) the negotiating priorities and objectives for each country involved; (2) the assessment of negotiating prospects; and (3) any U.S. concessions which might be included in negotiations to achieve such objectives. Title II: Trade Agreement Authority - Authorizes the President, during the three years following enactment of this Act, to enter into trade agreements which meet specified objectives with foreign countries which provide for: (1) the harmonization, reduction, or elimination of duties or restrictions, barriers, or other distortions to international trade; or (2) the prohibition of or limitations on the imposition of duties or restrictions, barriers, or other distortions to international trade. Authorizes the President to enter into trade agreements with a foreign country to grant concessions as compensation in order to maintain the general level of reciprocal and mutually advantageous concessions if: (1) the President has taken action because no trade agreement could be reached under this Act; and (2) the USTR is not required to take action against such country under this Act. Title III: Miscellaneous Provisions - Authorizes importing a product that is subject to registration or approval by the Federal Communications Commission (FCC) only if: (1) such product conforms with all applicable FCC regulations; and (2) the information which is required on a specified FCC form is provided to the appropriate customs officer at the time of entry into the United States. Directs the FCC, the Secretary of Commerce, and the USTR to provide enforcement assistance to the Secretary of the Treasury upon request. Directs the Secretary of the Treasury to provide the Congress with information on such imports at least twice a year. Amends the Trade Act of 1974 to include within the definition of service sector access authorization any authorization that permits a foreign supplier of goods related to a service access to the U.S. market. Directs the Secretary of Commerce to report to the Congress at least once every two years on the impact of U.S. domestic policies and practices on the growth and international competitiveness of the U.S. telecommunications industry.
United States · United States Congress · 20 September 1985
Amends the Internal Revenue Code to repeal the provisions which provide that a regulated investment company does not qualify for conduit treatment (no taxation at the corporate level) if 30 percent or more of its gross income is derived from the sale (or other disposition) of stock or securities held for less than three months. Expands the definition of permitted income of regulated investment companies to provide that "securities" has the same meaning as it does under the Investment Company Act of 1940. Provides that foreign currency gains are included in the definition of qualifying income as well as other income with respect to a regulated investment company's business of investing in stocks, securities, or income from gains from options or futures contracts. Provides that each separate portfolio in a series fund will be treated as a separate corporation for purpose of eligibility for conduit treatment of a regulated investment company. Extends to 60 days the period for mailing various notices to shareholders of regulated investment companies. Expands the definition of "third-party recordkeepers" to include regulated investment companies with respect to certain protections in connection with summonses that are served for obtaining records.
United States · United States Congress · 20 September 1985
Designates the period from September 1, 1985, through August 31, 1986, as the 350th Anniversary Year of Hartford, Connecticut. Recognizes Hartford for its many achievements and productive history.
United States · United States Congress · 19 September 1985
Interstate Compact - Grants congressional approval to the Northeast Interstate Low-Level Radioactive Waste Compact which provides for cooperation between the States of Connecticut, New Jersey, Delaware, and Maryland regarding the management of low-level radioactive waste.
United States · United States Congress · 18 September 1985
Amends the Atlantic Striped Bass Conservation Act to include the District of Columbia and the Potomac River Fisheries Commission as coastal States and the waters within their jurisdiction as coastal waters for purposes of the Act. Authorizes appropriations for such Act for FY 1986 through 1988. Makes such Act effective until the end of FY 1988. Extends the funding of striped bass studies under the Anadromous Fish Conservation Act to the end of FY 1988.
United States · United States Congress · 12 September 1985
Eliminates the requirement that individuals who are owner-employees with pension or profit-sharing plans (Keogh plans) must file a specified informational return (form 5500-c) in order to comply with certain provisions of the Internal Revenue Code. Requires the Secretary of the Treasury to prescribe a simplified information return.
United States · United States Congress · 10 September 1985
Amends title XVIII (Medicare) of the Social Security Act to provide coverage for services performed by a physician assistant under the supervision of a physician.
United States · United States Congress · 1 August 1985
Prohibits the Secretary of Health and Human Services from changing reimbursement levels or methodologies for home health services under title XVIII (Medicare) of the Social Security Act prior to the later of: (1) October 1, 1986; or (2) any freeze period beginning after June 30, 1985, and before October 1, 1986.
United States · United States Congress · 1 August 1985
Amends the Internal Revenue Code to allow employees and employers to make contributions to a cost-of-living arrangement to supplement a defined benefit plan. Defines a qualified "cost-of-living arrangement" as an arrangement under a defined benefit plan which indexes a benefit provided under such plan or a separate plan subject to certain requirements. Requires that participation in such an arrangement must be elective. Provides that transfers to a cost-of-living arrangement shall not be taken into account for purposes of lump-sum distribution. Disallows an income tax deduction for employee contributions to a cost-of-living arrangement.
United States · United States Congress · 31 July 1985
Amends the Internal Revenue Code to exempt from the excise tax on transportation by air any transportation by helicopter if such helicopter: (1) does not use federally assisted facilities; (2) is primarily used for purposes of providing emergency medical services; and (3) is owned or leased by a nonprofit health care facility and is operated exclusively under the control of such facility.
United States · United States Congress · 30 July 1985
Comprehensive Nuclear Weapons Freeze and Arms Reduction Act of 1985 - Expresses the sense of the Congress that the President should immediately invite the Soviet Union to enter into negotiations with the United States which seek an agreement on a comprehensive freeze (a bilateral and adequately verifiable halt by the United States and the Soviet Union in all testing, production, and deployment of nuclear weapons systems). Declares the President should inform the Soviet Union of the U.S. intention to engage in a bilateral halt in the testing, production, and deployment of nuclear weapons systems. Expresses the sense of the Congress that: (1) both during and after negotiations for a comprehensive freeze the President should pursue reductions in nuclear arsenals; and (2) a comprehensive freeze is entirely consistent with, and an essential part of mutual stabilizing reductions in nuclear forces. Requires both the Senate and the House Intelligence Committees to begin oversight hearings on verification procedures for the comprehensive freeze. Sets forth which committees and subcommittees may have members participate in such hearings. Requires the Intelligence Committees to report to their respective Houses within six months of enactment of this Act on the adequacy of U.S. monitoring systems and existing procedures for verifying Soviet compliance with the comprehensive freeze. Requires the reports to include: (1) an assessment of the nature and extent of Soviet activities and installations involved in the testing, production, and deployment of nuclear weapons systems; (2) an assessment of current U.S. capabilities to monitor threatening changes in the status of Soviet nuclear forces under the comprehensive freeze; and (3) an assessment of additional monitoring systems and cooperative procedures that may be needed to increase monitoring confidence of compliance. Requires the Director of the U.S. Arms Control and Disarmament Agency to begin preparing an operational plan for implementation of the comprehensive freeze. Requires the Director to report to the Congress on the plan within nine months of enactment of this Act. Requires the report to specify: (1) procedures for the cessation of activities and closure or conversion of facilities affected by the comprehensive freeze; (2) a program for the retraining and re-employment of Government and defense industry personnel directly affected by the termination of nuclear weapons-related activities; and (3) a program of economic adjustment assistance for adversely affected communities. Directs the President to submit semi-annual reports to the Congress on: (1) the status of U.S. and Soviet negotiation efforts; (2) Soviet military activities relating to the testing, production, and deployment of nuclear weapons systems; and (3) any uncertainties concerning verification of the comprehensive freeze, the status of efforts to reduce those uncertainties, and the national security implications of those uncertainties. Imposes the following restrictions on nuclear testing, deployment, and production only if the Soviet Union, within a specified time, informs the President that the Soviet Union will observe a bilateral halt in the testing, production, and deployment of nuclear weapons systems. Prohibits obligating or spending appropriations for testing, producing, or deploying nuclear weapons systems, unless the Congress expressly provides otherwise. Allows the testing and deployment of specified nuclear missiles for a limited time. Sets forth the effective dates of such restrictions. Authorizes the President to request the Congress to remove the funding restrictions on the testing, production, and deployment of nuclear weapons systems only if the President certifies to the Congress that: (1) the Soviet Union has failed to demonstrate a restraint with respect to nuclear weapons systems which corresponds to the restraint being shown by the United States; or (2) continuation of the funding restrictions would cause significant and irreparable damage to U.S. national security. Provides for expedited congressional consideration of such a request by the President.
United States · United States Congress · 30 July 1985
Amends the Communications Act of 1934 to direct the Federal Communications Commission to: (1) establish regulations necessary to ensure access (currently, reasonable access) to telephone service by persons with impaired hearing; and (2) require that all telephones (currently, essential telephones) provide internal means for effective use with hearing aids specially designed for telephone use. Repeals a provision directing the Commission to consider the costs and benefits to all telephone users when making rules concerning telephone service for the disabled.
United States · United States Congress · 30 July 1985
Expresses the sense of the Congress that: (1) the United States should reaffirm its commitment to the principles expressed in section seven of the Helsinki Accords; and (2) the President should urge Soviet leader Mikhail Gorbachev to reaffirm the Soviet Union's commitment to such principles.
United States · United States Congress · 25 July 1985
Expresses the sense of the House of Representatives that any tax reform legislation to be enacted by the Congress should provide equitable tax treatment for all energy resources.
United States · United States Congress · 18 July 1985
Authorizes the President, on behalf of the Congress, to present a gold medal to Aaron Copland in recognition of his contributions to American musical composition. Authorizes the Secretary of the Treasury to provide for the sale of bronze duplicates of the medal. Authorizes appropriations.
United States · United States Congress · 18 July 1985
Trade Emergency and Export Promotion Act - Declares that actions by the President, the International Trade Commission (ITC), the Secretary of the Treasury, the Secretary of Agriculture, and the U.S. Trade Representative (USTR) pursuant to this Act shall not be reviewable by any court, except for abuse of discretion. Title I: International Trade Actions and Agreements - Declares that a national emergency exists because of distortions and imbalances in trade and instability in exchange rates and that such emergency requires extraordinary measures, including action to: (1) restore the value of the dollar; and (2) either eliminate foreign unfair trade barriers or prohibit countries which employ such barriers from enjoying trade surpluses with the United States or increasing shares of world export markets. Authorizes the President to negotiate and enter into with any foreign country or entity agreements limiting the export from such country or entity, and the importation into the United States, of any article. Directs the USTR to initiate proceedings against Japan before appropriate international bodies in order to obtain authorization to take trade actions against Japan on the grounds that: (1) Japan has failed to comply with trade agreements entered into with the United States; and (2) Japan has adopted numerous domestic policies and practices that impair and violate such trade agreements and impede achievement of their objectives. Directs the USTR, with the cooperation of the Secretary of Agriculture, to initiate actions under all international trade agreements to which the United States is a party in order to take appropriate countermeasures against agricultural export subsidies provided by the European Communities and other countries which will be used to prevent: (1) injury to U.S. agricultural producers; (2) nullification or impairment of such trade agreements; and (3) serious prejudice to the United States. Authorizes the USTR to initiate actions against each foreign country (except Japan and the European Communities) or entity that was an excess worldwide trade surplus country or an excess bilateral trade surplus country for 1984 under all applicable U.S. laws and international agreements in order to: (1) enforce the rights of the United States under such international agreements; and (2) obtain the elimination of certain trade acts, policies, and practices of such countries or entities. Directs the USTR to explain in proceedings initiated under this title that the United States finds it necessary to take the actions provided in title II of this Act as interim measures pending the outcome of such proceedings in order to protect vital U.S. interests. Directs the Secretary of the Treasury to develop a plan to reduce fluctuations between currencies on foreign currency exchange markets. Sets forth characteristics of such plan. Title II: Interim Domestic Trade Actions to Respond to the Trade Emergency - Subtitle A: Stand-by Duties - Directs the ITC to determine annually each major exporting country's: (1) worldwide nonpetroleum export percentage; (2) bilateral nonpetroleum export percentage; (3) worldwide nonpetroleum trade surplus; (4) bilateral nonpetroleum trade surplus; (5) worldwide trade surplus limitation; and (6) bilateral trade surplus limitation. Requires the ITC to report annually to the President on: (1) the determinations on the trade of such major exporting countries; (2) the identity of each foreign country which was an excess worldwide trade surplus country or excess bilateral trade surplus country during the preceding year; and (3) whether or not standby duties should be imposed on imports from such countries. Requires the President, within 15 days of receiving such report to determine, with respect to each country identified as an excess worldwide trade surplus country or excess bilateral trade surplus country: (1) whether such country unfairly restricts or limits the access of imports to its markets; and (2) if the President determines that such country does restrict access to its markets, whether such restriction contributes to that country's trade surplus. Requires the President, if both such determinations are positive, to impose stand-by duties on all imports from such countries. Prohibits making such determinations or imposing such duties if the U.S. trade deficit divided by the U.S. gross national product is less than one and one-half percent. Requires the President to report to the Congress, within 15 days of receiving the reports on worldwide and bilateral trade, on the determinations made with respect to imposing stand-by duties. Declares that the rate of a stand-by duty shall be 25 percent ad valorem and that such duty shall be in addition to any other duties. Provides for the implementation of such duties. Requires all revenues from such stand-by duties to be allocated to the Public Debt Reduction Account in the Treasury. Expresses the sense of the Congress that all funds in such Account be used only to reduce the Federal debt. Directs the Secretary of the Treasury to report annually to the Congress on the revenue derived from such stand-by duties. Prohibits imposing stand-by duties on articles imported after April 30, 1992. Prohibits requiring reports and determinations on trade surpluses after April 1991. Subtitle B: Reports - Directs the President to report annually to specified congressional committees on the operation of this Act. Title III: Trade Law Reform - Amends the Trade Act of 1974 to transfer to the USTR from the President the authority to order import relief and the authority to extend tariff preferences. Amends the Tariff Act of 1930 to transfer to the USTR from the President the authority to approve or disapprove ITC actions to prevent unfair practices in import trade.