United States · United States Congress · 4 January 1977
Title I: Authorizations and Limitations - Amends the Small Business Investment Act of 1958 to increase the appropriation for surety bond guarantees from $56,500,000 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: Miscellaneous, 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. 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. 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: Small Business Set-Asides - Provides that any contracting agency, under the Small Business Act, shall place contracts to allow more than one small business concern to perform work, if the amount of a proposed small business set-aside contract exceeds the maximum amount of a contract for which a surety may be guaranteed against loss under the Small Business Administration's surety bond guarantee program.
United States · United States Congress · 4 January 1977
Amends the Internal Revenue Code to allow an income tax credit for 25 percent of the amount of rent paid by the taxpayer which is equal to the taxpayer's proportionate share of the local and State property taxes imposed on the land and building in which his dwelling unit is located.
United States · United States Congress · 4 January 1977
Government Economy and Spending Reform Act - Title I: Authorization of New Budget Authority - Terminates all budget authority for Federal programs on specified dates according to the functional or subfunctional category of each program as set forth in the fiscal year 1977 budget. Requires the Comptroller General to report to Congress by April 1, 1977, on specified programs with respect to the laws under which such program is carried on, the amount of new budget authority received by such program during the four fiscal years ending before April 1, 1977, and to identify programs for which no outlays have been made during the last two fiscal years ending before April 1, 1977. Prohibits providing new budget authority after the applicable review date set forth in this Act unless the provision of such budget authority is specifically authorized by law or the standing rules of either House of Congress. Title II: Zero-Base Program Review - Sets forth a timetable for Congressional zero-base review of new budget authority. Defines "zero-base review" as an evaluation of a given program to determine the merits of its continuation at a level less than, equal to, or more than its existing level. Requires each congressional committee conducting a zero-based program review to adopt tentative and final review plans, receive reports from the Comptroller General and Federal agencies on the program being reviewed, and report to their respective House the results of such zero-base review of the program. Sets forth minimum objectives of inquiry for such reviews. Requires that any committee reporting pursuant to this Act recommend the extent to which any program reviewed should be continued or eliminated. Title III: Continuing Review - Amends the Legislative Reorganization Act of 1970 to require, whenever the Comptroller General issues a report which discloses any substantial deficiency in the achievement of the objectives of any Federal program, the agency conducting such program to report to specified congressional committees 60 days after such report and every six months thereafter to delineate the actions taken with respect to such deficiency. Requires that such agency continue to issue such reports until such time as the Comptroller General determines that no purpose is served by their submission. Amends the Budget and Accounting Act of 1921, to require the inclusion in the Budget of a statement of the specific objectives of each Government program, and a comparison, in each subsequent Budget, of the achievement of such objectives for the last completed fiscal year with the planned objectives of such year. Title IV: Miscellaneous - Requires the Director of Management and Budget to study the feasibility of zero-base budgeting for Federal agencies. Requires the Director of the Congressional Budget Office to study the feasibility of personnel ceilings on employees of the United States and their relationships to alternative methods of carrying out the activities of such employees. Requires that such reports be submitted to Congress. Requires Federal agency heads to report requests for new budget authority to Congress. Requires specified committees to study the effectiveness of the zero-base review procedures required by this Act.
United States · United States Congress · 4 January 1977
Amends the Federal Food, Drug, and Cosmetic Act to eliminate the requirement that persons filing an application with the Secretary of Health, Education, and Welfare include as part of application for approval of a new drug full reports of investigations which show whether or not such a drug is effective. Eliminates the power of the Secretary to disapprove a new drug on the basis that such drug will not have the effect it purports or is represented to have under the conditions of use prescribed, recommended, or suggested in the proposed labeling of the drug. Prevents the Secretary from withholding exemption for an experimental drug for investigative purposes on the basis that such drug will not be effective in a research context. Eliminates the authority of the Secretary to withhold approval of an application with respect to any new animal drugs on the basis that full reports of investigations on such drug have not proven it effective. Prevents the Secretary from withdrawing approval of a new animal drug on the basis that it poses an imminent hazard to health of man or animals because of a lack of substantial evidence that the drug will have the effect it purports or is represented to have under the conditions of use prescribed, recommended, or suggested in the labeling of it.
United States · United States Congress · 4 January 1977
Comprehensive Oil Pollution Liability and Compensation Act - Title I: Domestic Oil Pollution Liability, Compensation, and Fund - Establishes in the Treasury of the United States a fund for the purpose of paying for otherwise uncompensated losses resulting from oil pollution. Enumerates the sources of monies to be deposited in such fund, including a fee, not to exceed three cents per barrel of oil, imposed upon owners of facilities receiving oil. Authorizes the Secretary of Transportation to issue obligations to the Secretary of the Treasury at times when fund assets are insufficient to meet fund liabilities. Lists the types of injuries which may be compensated under this Act and the potential claimants who have standing to assert claims involving each such type of damage. Imposes joint, several, and strict liability on the owners and operators of each pollution source. Specifies liability limits, except in cases of gross negligence or willful misconduct, for ships and other vessels. Directs the Secretary of Transportation to establish limits on the liability of classes of facilities used for transporting, producing, processing, storing, or transferring oil. Requires the owner or operator: (1) of any such facility; or (2) any ship which uses such facility or navigable waters of the United States, to establish and maintain evidence of financial responsibility in an amount sufficient to satisfy applicable liability limits. Directs the person in charge of a vessel or facility to immediately notify the Secretary of Transportation of any pollution incident in which the vessel or facility is involved. Specifies procedures whereby the Secretary may, in the absence of such an admission, designate and advertise pollution sources. Directs the Secretary, in instances in which: (1) the owner and operator of a vessel or facility designated by the Secretary deny such vessel's or facility's involvement; (2) the source of the discharge is a public vessel; or (3) the Secretary is unable to designate the pollution source, to advertise procedures for presenting claims directly to the fund. Requires all other claims, with limited exceptions, to be initially presented to the owner or operator, or to such persons' guarantor. Permits claimants to either present a claim to the fund or to bring an action in an appropriate United States district court when an owner or operator and a guarantor deny liability or fail to settle the claim within a specified period. Sets forth procedures for the disposition and appeal of claims submitted to the fund. Requires both the plaintiff and the defendant in a court action brought against an owner, operator, or guarantor to forward copies of all pleadings to the fund. Permits the fund to intervene in such actions. Subrogates any person or governmental entity, including the fund, paying compensation to all the claimant's claims and rights under this Act. Specifies procedures for and the measure of recovery in actions brought by the fund against owners, operators, or guarantors of alleged pollution sources. Declares that the rights and remedies under this Act shall be exclusive with respect to economic loss caused by oil pollution. Sets penalties for persons failing to comply with specified provisions in this Act. Title II: Effective Dates; Conforming Amendments; Severability - Specifies the effective date of this Act. Amends specified laws, including the Deepwater Port Act of 1974 and the Federal Water Pollution Control Act, to conform with the provisions of this Act.
United States · United States Congress · 4 January 1977
Young Adult Conservation Corps Act - Amends the Act which established the Youth Conservation Corps to direct the Secretaries of Agriculture and Interior to jointly extend the Youth Conservation Corps so as to make possible the year-round employment of young adults. States that individuals employed as Corps members under this Act shall be either between the ages of 18 and 24 exclusively or school dropouts who are at least age 16; shall meet applicable physical standards; shall be given preference for employment if they reside in counties in which the unemployment rate was equal to or in excess of six percent for three consecutive months; and may be employed for a total of not more than 12 months. Specifies guidelines to be followed by the Secretaries in administering this Act, including those relative to the types of jobs and projects to be given preference and the wages to be paid Corps members. Extends the program under which grants are made to States and to assist them in meeting the cost of projects for the employment of young people to develop and maintain non-Federal public lands and waters. Designates a time period during which the Secretaries are to develop a plan to carry out the activities authorized by this Act and prepare the site location, facilities, and equipment selected in such plan. Directs the Secretaries, in performing such functions, to plan for a capacity of the extended Corps to employ 100,000 young adults during the first fiscal year of operation, 300,000 during the second, 400,000 during the third, and 500,000 during the fourth.
United States · United States Congress · 4 January 1977
Declares it the sense of the House of Representatives: (1) that the Soviet Union permit free emigration of Soviet Jews and others, (2) that the Soviet Union permit the free exercise of religious beliefs and cultural expression, and (3) that the Congress supports "Solidarity Sunday."
United States · United States Congress · 1 October 1976
Creates a House Select Committee to investigate and study product and professional liability insurance rate increases, and any other product and professional liability insurance coverage issues at its discretion. Establishes procedural guidelines and enumerates powers the new Committee may exercise in pursuit of its goals, including the authority to hold hearings, issue subpoenas, and use discovery techniques as it deems necessary. Empowers the Committee to employ and fix the compensation of clerks, experts, consultants, technicians, attorneys, investigators, and other support staff as it considers fit. Directs the Committee to report to the House as soon as practicable the results of its studies, as well as recommendations.
United States · United States Congress · 1 October 1976
Requests the President of the United States to establish by Executive Order a Strike Force for Medicare and Medicaid Review which utilizes the resources of the Department of Health, Education, and Welfare, the Department of Justice, the Internal Revenue Service, the Office of Management and Budget, and other agencies to review, investigate, and audit operations of the medicare and medicaid programs. Requests the Strike Force to report its findings and recommendations to each House of Congress and the President.
United States · United States Congress · 29 September 1976
Provides, under the Occupational Safety and Health Act of 1970, that whenever an employer's failure to comply with any provision of that Act or any State requirement relating to industrial safety causes or contributes to an accident resulting in bodily injury, no provision of any workers' compensation law or similar statute shall be construed to bar an action at law for contribution, indemnification, or other relief against the employer by a person alleged liable for such injury.
United States · United States Congress · 21 September 1976
Exempts depository institutions situated in New York and New Jersey from the prohibition against offering interest on dividend-paying accounts, from which the owner may make withdrawals by negotiable or transferable instruments for the purpose of making transfers to third parties.
United States · United States Congress · 15 September 1976
Public Participation in Government Proceedings Act - Entitles any person to recover reasonable attorneys' fees and other costs of participation incurred by such person in any Federal agency proceeding if the participation of such person promotes or can reasonably be expected to promote a full and fair determination of the issues involved in the proceeding, the economic interest of such person in the outcome is small compared to the costs of participation in such proceeding, and such person does not have sufficient resources to participate effectively in such proceeding in the absence of an award under this Act. Requires each agency, whenever practicable, to determine, prior to the commencement of any proceeding, the eligibility of a person for an award under this Act and the amount of such award. Requires payment of such an award, where necessary, prior to the conclusion of such proceeding but in no event later than 90 days after the conclusion of such proceeding. Directs the head of each agency to report annually to Congress with respect to awards made under this Act. Entitles any person who is a party to, or intervenor in, any civil suit or proceeding for judicial review of agency action to costs incurred by such person in litigation if such person is afforded the relief sought in substantial measure, the court determines that such action served an important public purpose, the economic interest of such person in the outcome of such action is small compared with the cost of litigation, and the person does not have sufficient resources to participate effectively in such action absent an award under this Act. Directs the Administrative Office of the United States Courts to report annually to Congress with respect to awards granted by courts of the United States under this Act. Authorizes to be appropriated for agency awards under this Act, $10,000,000 each year for fiscal years 1977, 1978, and 1979. Authorizes to be appropriated for judicial awards under this Act such sums as may be necessary.
United States · United States Congress · 8 September 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.
United States · United States Congress · 1 September 1976
Amends the Emergency Jobs and Unemployment Assistance Act of 1974 to qualify individuals who are eligible for unemployment compensation under State or Federal law for special unemployment assistance to the extent that the special assistance benefits to which such individuals would be entitled had they been eligible for State or Federal unemployment compensation exceeds such regular compensation.
United States · United States Congress · 1 September 1976
Expresses the sense of the Congress that Georgi Vins should be released from imprisonment and that the Government of the Soviet Union should allow him and all other religious believers within its borders to worship God freely, as the Soviet Union is committed to do by the provisions of its constitution and by the provisions of the United Nations Covenant on Civil and Political Rights.
United States · United States Congress · 31 August 1976
Authorizes the Secretary of the Army, acting through the Chief of Engineers, to implement a five-year demonstration program to increase the average annual diversion of water from Lake Michigan.
United States · United States Congress · 30 August 1976
Authorizes and requests the President to issue a proclamation designating the week beginning October 3, 1976, and ending October 9, 1976, as "National Gifted Children Week."
United States · United States Congress · 26 August 1976
Amends the Internal Revenue Code to allow a taxpayer to treat 50 percent of the qualified erosion prevention expenditures which are paid or incurred by him in a taxable year as expenditures which are not chargeable to capital account. Allows expenditures so treated to be taken as a deduction. Defines "qualified erosion prevention expenditures" to mean expenditures for improvements: (1) of real property within the United States which borders the Great Lakes and is within an area designated by the Chief of Engineers of the Army as being susceptible to erosion caused by high water levels; (2) designed to prevent or reduce shoreline erosion of such property; (3) which are of a type approved by the Chief of Engineers pursuant to this Act; and (4) which meet other specified conditions. Directs the Chief of Engineers to promulgate standards for the improvements which qualify for the deduction created by this Act and to establish the maximum cost which he considers reasonable for such improvements. Limits the deduction for improvements to 50 percent of the maximum cost which the Chief of Engineers establishes.
United States · United States Congress · 26 August 1976
Authorizes the President to issue a proclamation designating the week beginning October 3, 1976, and ending October 9, 1976, as "National Volunteer Firemen Week."
United States · United States Congress · 25 August 1976
Expresses the sense of the Congress that the President call a White House Conference on Marriage and the Family in order to establish a national understanding of the role played by marriage and the family in the development of a viable society.
United States · United States Congress · 24 August 1976
Directs the Federal Communications Commission to take such steps as may be necessary to increase the channels available for use in the citizens radio service to 46 channels.
United States · United States Congress · 23 August 1976
Deletes the provisions of the Immigration and Nationality Act which limit to two the number of petitions for preference status which may be granted to a petitioner on behalf of an alien orphan immigrating to the United States for adoption.
United States · United States Congress · 10 August 1976
Provides, under the Legislative Reorganization Act, that pay adjustments for Members of Congress may take effect no earlier than the beginning of the Congress next following the Congress in which they are approved.
United States · United States Congress · 5 August 1976
National Neighborhood Policy Act - Establishes a National Commission on Neighborhoods which will include four members from the House and the Senate and 16 public members appointed by the President. Sets forth the duties of the Commission, which include studying the factors necessary to neighborhood survival and revitalization and making recommendations for modification of existing laws and policies. Makes provisions for the administration of this Commission. Authorizes to be appropriated funds necessary to carry out this Act.
United States · United States Congress · 5 August 1976
Veterans' Administration Review Act - Provides that decisions of the Administrator of Veterans' Affairs on questions of law and fact under any law administered by the Veterans' Administration shall be subject to judicial review. Repeals the authority of the Administrator to pay fees to agents or attorneys in allowed claims for monetary benefits. (Amends 38 U.S.C. 211; Repeals 38 U.S.C. 3403(c))
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.
United States · United States Congress · 5 August 1976
States that the Attorney General should parole into the United States those Lebanese aliens not participating in the fighting in the civil war in that country who are in danger of losing their lives as a result of such war.
United States · United States Congress · 4 August 1976
Requires the inclusion of professional registered nurses in Professional Standards Review Organizations of medical professionals in carrying out the functions of such review organizations under Title XI (General Provisions and Professional Standards Review) of the Social Security Act. Requires the inclusion of two professional registered nurses on the Statewide Professional Standards Review Councils. Requires the inclusion of three professional registered nurses on the National Professional Standards Review Council. Includes professional registered nurses in that class of health care practitioners which may not be held civilly liable for action taken in compliance with or reliance upon norms of care and treatment applied by a Professional Standards Reveiw Organization.
United States · United States Congress · 4 August 1976
Amends the Internal Revenue Code to allow taxpayers of any age to exclude from gross income gain from the sale or exchange of property if during the eight year period preceding the sale or exchange, such property has been owned and used as the taxpayer's principal residence for periods aggregating five years or more. Allows a surviving spouse to tack on the holding and use periods of the decedent spouse without regard to whether such decedent spouse had made an election to exclude gain from a prior sale or exchange.
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.
United States · United States Congress · 29 July 1976
Expresses the sense of the House of Representatives that Israel be commended for its rescue operation in Uganda. Calls upon the President to reevaluate the policies and programs of the United States in order to strengthen its stand against international terrorists and countries affording aid and support to terrorist organizations.
United States · United States Congress · 28 July 1976
Provides that the automatic cost-of-living increases in benefits which are authorized under title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act may be made on a semiannual basis (rather than only on an annual basis as at present).
United States · United States Congress · 28 July 1976
Authorizes and directs the Secretary of Labor, through the Bureau of Labor Statistics, to prepare, as part of the Consumer Price Index published monthly by the Bureau of Labor Statistics, a consumer price index (to be known as the Consumer Price Index for the Aged and Other Social Security Beneficiaries) designed to reflect the relevant price information for individuals, as a group, who are 65 years of age or older or are otherwise entitled to monthly benefits under Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act.
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.
United States · United States Congress · 27 July 1976
Amends Rule XXII of the Rules of the House of Representatives to remove the limitation on the number of Members who may introduce jointly any bill, memorial, or resolution. Provides that the name of any Member may be added or deleted as a sponsor of a bill, memorial, or resolution which has been introduced if a request on behalf of such Member is made by a Member to the Speaker prior to the enactment or adoption of such bill, memorial, or resolution by the House.
United States · United States Congress · 26 July 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.
United States · United States Congress · 22 July 1976
National Consumer Cooperative Bank Act - Title I: National Consumer Cooperative Bank - Sets forth the findings of Congress that there is a need for the establishment of a National Consumer Cooperative Bank and a Cooperative Bank and Assistance Administration which will make available necessary financial and technical assistance to cooperative self-help endeavors as a means of strengthening the Nation's economy. Establishes the National Consumer Cooperative Bank. States that the Bank shall: (1) encourage the development of new and existing cooperatives eligible for its assistance by providing specialized credit and technical assistance; (2) maintain broad-based control of the Bank by its voting stockholders; (3) encourage broad-based ownership, control and active participation by members in eligible cooperatives; (4) assure that the net savings from its operations and the operations of borrowers from the Bank, are made available or accounted for to the stockholders or members of the cooperative organization; and (5) assist in improving the quality and availability of goods and services to consumers. Authorizes the creation of no less than four nor more than twelve corporate regional banks. States that the Bank shall have the power to make and service loans, commitments for credit, guarantees, furnish financially related services, technical assistance, and issue obligations. Enumerates additional powers necessary to carry out its powers and duties under this Act. Authorizes appropriations of $250,000,000 per year for the United States to purchase class A preferred stock of the Bank. Requires the Bank to hold an annual meeting of stockholders. Permits the Bank to obtain funds through the public or private sale of its bonds, debentures, notes, and other evidences of indebtedness. Authorizes the Bank to make loans to eligible organizations which shall be repayable in not more than forty years. States that the objective of the Bank shall be to provide the type of credit needed by eligible borrowers, at the lowest reasonable cost on a sound business basis, taking into account the cost of money to the Bank. Defines "eligible cooperatives" for purposes of assistance under this title as an organization chartered or operated on a cooperative, not for profit basis for producing or furnishing goods, services, facilities, or financing, primarily for the benefit of its members or voting stockholders who are ultimate consumers, if it meets specified criteria, or any other institution chartered or operated in such a way as to enhance competitive market forces or to reduce the price spread between producers and the ultimate consumers of products or services. Title II: Self-Help Development Fund - Establishes in the Treasury a Consumer Cooperative Self-Help Development Fund. Authorizes appropriations of $250,000,000 to be deposited in the Fund. Permits the Cooperative Bank and Assistance Administration to make a capital investment advance out of the Fund to any eligible cooperative if the Administration determines that the applicant's initial or supplemental capital requirements exceed its ability to obtain a Title I loan from the Bank or other sources, and the membership of the applicant consists substantially of low-income persons. Title III: Cooperative Technical Assistance - Directs the Cooperative Bank and Assistance Administration to make available information and services concerning the organization or reorganization of cooperatives to best achieve the objectives of this Act and to best provide the means through which various types of goods, services, and facilities can be made available to members and patrons. States that such assistance may include investigations, surveys, and director and management training and assistance. Authorizes appropriations to the Administration of sums necessary for the administration of this title. Title IV: The Cooperative Bank and Assistance Administration and General Provisions - Establishes the Cooperative Bank and Assistance Administration. Directs the Administration to assure that the objectives of this Act are carried out. States that until the stock of the Bank held by the United States has been fully retired the Bank shall be exempt from any form of taxation. Requires the Administration and the Board to report annually to the appropriate committee of Congress on the activities of the Administration and on the Bank's capital, operations, financial condition, the self-help development fund, and to make recommendations for legistation to improve its services. Authorizes appropriations of sums necessary to carry out the purposes of this Act, in addition to appropriations specifically authorized.
United States · United States Congress · 19 July 1976
Life Support Centers Act - Directs the Secretary of Health, Education, and Welfare, under the Public Health Service Act, to make grants to the health agencies of States, or political subdivisions thereof, or to any qualified nonprofit agency for programs of: (1) prenatal health care to adolescents; (2) health care to infants of adolescent mothers; (3) family planning services; (4) social services for adolescent mothers; and (5) funds to purchase adoption services for adolescent mothers. Stipulates that the Federal share of assistance to programs under this section shall not exceed 75 percent of the cost of a program. Sets forth procedures by which application may be made for grants. Authorizes the appropriation of $30,000,000 to carry out the purposes of this Act for fiscal year 1977 and for each of the two succeeding fiscal years.
United States · United States Congress · 2 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.
United States · United States Congress · 1 July 1976
Establishes a nine-member National Commission on Social Security. Requires the Commission to study and investigate titles II (Old-Age, Survivors, and Disability Insurance) and XVIII (Medicare) of the Social Security Act. Requires that annual reports be submitted to Congress and the President. Terminates the existence of the Commission after it files its fourth annual report. Authorizes to be appropriated such sums as may be necessary to carry out the purposes of this resolution.
United States · United States Congress · 1 July 1976
Amends rule XXII of the Rules of the House of Representatives to remove the limitation on the number of Members who may introduce jointly any bill, memorial, or resolution.
United States · United States Congress · 1 July 1976
Provides that no Member of the House of Representatives shall expend or draw funds against the stationery allowance except by presentation of a receipt of purchase of stationery or office supplies. Requires that any amount of the stationery allowance of a Member of the House of Representatives which is unexpended shall be paid from the revolving fund for stationery allowances into the contingent fund of the House. Provides that stationery funds allocated to a Member of the House who ceases to serve as a Member shall be paid from the stationery fund into the contingent fund of the House.
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.
United States · United States Congress · 25 June 1976
Amends the Internal Revenue Code to provide that the current withholding tables as set forth in the Revenue Adjustment Act of 1975 shall remain in effect through August 31, 1976, rather than June 30, 1976.
![Official portrait of Rep. LaFalce, John J. [D-NY-29]](https://www.congress.gov/img/member/l000556_200.jpg)