United States · United States Congress · 9 April 1981
National Export Policy Act of 1981 - Title I: General Findings and Purposes - Sets forth Congressional findings and the purposes of this Act. Title II: Export Financing - Declares it to be the policy of the Congress that the Export-Import Bank of the United States should facilitate, particularly in the presence of foreign officially-supported export credit competition, exports to countries: (1) having insufficient access to international credit facilities; (2) demonstrating reasonable economic progress; and (3) offering adequate formal assurances of repayment (currently, must offer sufficient likelihood of repayment). Increases the aggregate amount of loans and contractual liability of guarantees and insurance which may be outstanding at any one time. Requires such activities to be carried out through the Export Expansion Facility. Provides for the capitalization of such Facility. Amends the Export- Import Bank Act of 1945 to establish staggered, ten-year terms of office for the Bank directors. Declares that the House and Senate Appropriations Committees should consider limitations on Bank activities when considering appropriations for international trade activities rather than when considering foreign assistance activities. Title III: Export - Related Tax Policy - Amends the Internal Revenue Code to increase the earned income exclusion for citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to $50,000 plus 50 percent of any compensation which exceeds $50,000. Allows separate exclusions to married individuals who are both working overseas, although one's excess exclusion cannot be used against income earned by the other. Provides a tax exclusion for such individuals for the amount by which their housing expenses exceed 16 percent of a GS-14, step 1 salary level for a Federal employee. Permits such individuals to include in the computation of housing expenses the costs of a second foreign household if such an individual's family resides outside the United States but not with the individual because of adverse living conditions where the individual resides. Repeals similar deductions for cost-of-living differential, schooling expenses, home leave travel expenses, and residence in a hardship area. Excludes from an employee's gross income any lodging furnished the employee by an employer in a camp which meets specified requirements. Repeals the current provisions relating to deductions for certain expenses of living abroad. Provides that the foreign bad debt loss deduction shall not exceed the greater of 15 percent of the taxpayer's taxable income from exports, or two percent of the taxpayer's export receivables outstanding at the close of the taxable year. Provides that the amount of bad debt losses that may be added to a bad debt reserve shall not exceed five percent of the taxpayer's export receivables outstanding as of the close of the taxable year. Permits the amortization, based on a period of 60 months, of: (1) foreign market studies; (2) foreign marketing expenses; and (3) foreign patents. Permits an income tax deduction for currency fluctuation losses on export credit which have not been repaid by the end of the taxable year. Authorizes the Secretary of the Treasury to extend the six-month deadline for exempting exports from the manufacturers excise tax for an additional 12 months if it is determined, after consultation with the Secretary of State, that exports were delayed because of war, civil unrest, or similar adverse conditions in a foreign nation. Amends the Foreign Trade Zones Act to authorize the Secretary of Commerce to approve the duty-free entry of machinery, materials, and fuels to be used for the production of goods in a foreign trade zone if such goods are not subsequently entered into U.S. customs territory. Sets forth requirements before applications for such treatment will be approved. Makes such approval valid for six years. Requires the Foreign Trade Zones Board to include in its annual report to Congress a summary of activities and proposals to increase the use of foreign trade zones to expand U.S. exports. Makes banking organizations which have invested in an export trading company eligible for treatment as domestic international sales corporations (DISC). Includes as qualified export receipts the gross receipts from the export of services produced in the United States and from export trade services in the case of a DISC which is an export trading company. Directs the Secretary of Commerce, with the Secretary of the Treasury, to develop and distribute information concerning the utilization of the DISC provisions. Makes export trading companies eligible for Subchapter S treatment if the shareholders of such companies are otherwise small business corporations. Exempts such companies from restrictions on the amount of foreign income they can receive and still be eligible for Subchapter S tax treatment. Title IV: Antitrust - Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association, company, or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish certification guidelines. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade. Requires such Office to report annually to the appropriate Congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in such trade. Grants a temporary exemption from the Sherman Act antitrust provisions for existing associations. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force, seven years after enactment, to examine the effect of this Act and to make recommendations. Directs the Attorney General to study whether: (1) U.S. business conduct to expand exports conflicts with basic antitrust principles; and (2) a more liberal enforcement policy for overseas activities would impede implementation of the antitrust laws. Requires the Attorney General to identify conduct which would not warrant prosecution under the antitrust laws. Sets forth the procedures for describing such permissible conduct and disclosing such descriptions. Authorizes the Secretary of Commerce to intervene in such suits and to provide legal assistance to exporters. Prohibits prosecution under the antitrust laws of exporters who: (1) have notified the Attorney General of their intention to engage in such designated conduct; or (2) receive an approval, or no objection, from the Attorney General concerning proposed transactions. Requires the Attorney General and the Secretary of Commerce to report to Congress concerning implementation of this section. Authorizes appropriations for the Attorney General and the Secretary of Commerce for carrying out the simplification of antitrust procedures. Title V: Amendments to Other Laws That Hinder Exports - Changes the name of the Foreign Corrupt Practices Act of 1977 (FCPA) to the Business Practices and Records Act. Amends the Securities Exchange Act of 1934 to require securities issuers to maintain an internal accounting system that provides reasonable assurance that specified accountability and accuracy goals are met. Changes the criterion for finding liability for violations of accounting standards. Makes persons who intentionally violate the accounting standards liable for such violations (currently persons who know or have reason to know of violations of the accounting standards are liable for such violations). Requires only good faith efforts at ensuring compliance by issuers who hold 50 percent or less of the equity of domestic or foreign firms. Transfers from the Security and Exchange Commission to the Department of Justice jurisdiction to enforce the antibribery prohibitions of the FCPA with respect to issuers. Replaces the current "knowing or reason to know" standard for liability for illegal payments to intermediaries with a standard that makes a firm liable if the firm intends to direct or authorize an illegal payment. Exempts from such prohibition any payment to a foreign official including items of value given in return for hospitality or in token of regard and esteem, and marketing or demonstration expenses pertaining to the business presentation. Makes the provision in the Business Practices and Records Act the exclusive Federal law authorizing Federal proceedings against a domestic concern for using the mails or any instrumentality of interstate commerce to violate such Act. Requires an interagency task force to issue guidelines specifying permissible conduct and arrangements associated with common types of export sales arrangements and business contracts and precautionary procedures creating a rebuttable presumption of compliance. Provides for the establishment of a Business Practices and Records Act Review Procedure to answer specific inquiries concerning enforcement of such Act. Requires the Attorney General to issue opinions regarding compliance. Makes such opinions final and binding on all parties if the conduct does not involve a violation. Requires annual reports to Congress by: (1) the Attorney General concerning actions taken pursuant to such Act; and (2) the Chairman of the Securities and Exchange Commission concerning the reporting requirements. Expresses the sense of the Congress that the President should negotiate agreements establishing standards of conduct for international business practices, a resolution procedure, and rates of commissions. Directs the President to report to Congress concerning the progress of such negotiations. Requires Congress to review the Business Practices and Records Act after receiving the President's report. Directs the President to report to Congress on the legal and practical consequences of specific action that the United States could take under existing law to: (1) promote international cooperation to prevent bribery of foreign officials, candidates, or parties in third countries; and (2) encourage persons or businesses operating in foreign countries to refrain from bribing foreign officials, candidates, or parties to the disadvantage of U.S. industry. Requires the report to contain recommendations for new legislation and an analysis of the potential effect on U.S. interests of the corruption of foreign officials and political leaders. Requires an export competitiveness impact statement from any issuing authority taking significant action which could affect adversely U.S. exports or the international competitive position of the United States and its exporters. Expresses the sense of Congress that export paperwork must be reduced to encourage export sales. Requires all agencies to minimize paperwork and reporting requirements. Title VI: Export Awareness and Export Promotion Programs - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes appropriations for fiscal years 1982-1986 for such initial investments and operating expenses. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available. Directs the Bank Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Amends the Small Business Act to empower the Small Business Administration to extend credit to finance export assistance. Sets a maximum of $750,000 which may be committed to any borrower from the business loan and investment revolving fund. Directs the Secretary of Commerce to enter into cooperative agreements with industrial corporations to develop foreign markets for their products. Requires the Secretary to direct specific market research for the products involved in foreign markets upon entering such agreements. Permits interested industrial corporations to submit a proposal incorporating specific marketing actions to the Secretary. Authorizes the Secretary to enter into a marketing agreement after approving any such proposal. Requires repayment of the Federal share of the costs by the entity entering into such an agreement. Authorizes appropriations to carry out such agreements. Directs each Federal agency and U.S. representative to any international organization to: (1) identify programs affecting the export of U.S. firms' services; (2) make available information concerning such programs; (3) establish programs to publicize export-related programs for services; and (4) modify those programs with an adverse effect on the export of services. Makes the Secretary of Commerce responsible for coordinating such programs. Directs the Department of Treasury to report to Congress concerning the feasibility of extending DISC treatment to the export of services. Title VII: Agricultural Exports - Amends the Commodity Credit Corporation Charter Act to establish the Agricultural Export Credit Revolving Fund to be available for: (1) the export of, or aid in the development of foreign markets for, agricultural commodities; and (2) loans for the acquisition of facilities in foreign countries to improve the countries' capacities to handle agri- commodities exported from the United States. Authorizes appropriations for such fund for fiscal years 1982-1984. Directs the Secretary of Agriculture to report to Congress annually concerning the export credit sales program. Abolishes such fund effective October 1, 1984. Amends the Export-Import Bank Act of 1945 to require the ratio of credit extended by the Export-Import Bank for agricultural exports in comparison with the total amount extended to be at least equivalent to the value of agricultural exports in comparison with total value of exports. Specifies exceptions to this requirement. Title VIII: International Agreements - Expresses the sense of Congress that: (1) the multilateral trade agreement be strongly implemented; and (2) the efforts must continue to secure a freer world trading environment. Directs the Secretary of Agriculture to implement a special export subsidy program for agricultural commodities to neutralize the effects of foreign export subsidy programs. Specifies the circumstances required before such program may be implemented. Expresses the sense of Congress that the President should enter negotiations for international codes of: (1) official export financing; (2) business conduct; (3) reciprocity of antitrust enforcement; and (4) fair trade in services. Requires the President to report to Congress concerning the progress of such negotiations. Title IX: Government Support of Export Goals - Overseas Private Investment Corporation Act of 1981 - Establishes the Overseas Private Investment Corporation (OPIC) as an independent agency. Sets forth the duties of OPIC. Provides for the capital of OPIC to be paid through the appropriation process and through transfer from OPIC's earned income. Sets forth the structure of OPIC with a Board of Directors, a President of the Corporation, an Executive Vice President of the Corporation, other officers and staff, and consultants. Authorizes OPIC to issue insurance to eligible investors covering new or existing investments protecting against specified risks. Authorizes OPIC to make arrangements with foreign governments or multilateral organizations for sharing liabilities. Limits the insurance that may be issued to a single investor. Authorizes OPIC to issue guarantees of loans and other investments. Sets forth limitations on such guarantees. Authorizes OPIC to make direct loans to privately owned or mixed publicly and privately owned firms for projects sponsored by or significantly involving small businesses or cooperatives. Limits the circumstances under which OPIC may acquire stock in any other corporation. Authorizes OPIC to initiate and support the identification, assessment, and promotion of private investment opportunities, with specified exceptions. Authorizes OPIC to administer special projects to provide private technical, professional, or managerial assistance in the development of human resources, skills, technology, capital savings, and intermediate financial institutions and cooperatives. Authorizes OPIC to engage in other insurance, reinsurance, and risk sharing activities with other insurance companies, financial institutions, persons, or groups. Limits the amount of reinsurance of liabilities which OPIC may issue. Limits the amount of maximum contingent liability pursuant to insurance or guarantees issued under this Act which may be outstanding at any one time. Establishes the: (1) Direct Investment Fund as a revolving fund to be available for direct investments; and (2) Insurance Reserve and Guaranty Reserve to be available for discharging liabilities. Authorizes appropriations to the investment and guaranty fund in specified circumstances. Authorizes OPIC to issue obligations in specified circumstances in order to discharge liabilities. Requires that all revenues and income transferred to or earned by OPIC be available to carry out OPIC's purposes. Directs OPIC to determine that suitable arrangements exist for protecting OPIC's interests in connection with any insurance, guaranty, or reinsurance issued under this Act. Pledges the full faith and credit of the United States for the full payment and performance of previous obligations. Sets forth conditions with respect to insurance, guaranty, and reinsurance coverage under this Act concerning fees, time limits, fraud, and settlement of disputes. Sets forth administrative provisions and duties applicable to OPIC. Requires OPIC to undertake to broaden the participation of U.S. small businesses, cooperatives, and other small investors in the development of small private enterprise in less developed friendly countries or areas. Directs OPIC to report annually to Congress concerning its operations. Amends the Foreign Assistance Act of 1961 to redefine "eligible investor" with respect to housing guarantees. Repeals provisions: (1) prohibiting the transfer of OPIC funds between accounts; (2) authorizing the President to deny assistance to any less developed country which fails to enter into an agreement to institute the investment guaranty program; and (3) establishing OPIC. Stipulates that nothing in this part shall be construed as terminating any of OPIC's statutory authority. Requires the President of OPIC to submit to the appropriate Congressional committees any necessary technical or conforming amendments. Declares that the potential for U.S. exports shall be a primary decisionmaking factor in considering which projects to include in U.S. foreign aid programs. Declares that the Office of Management and Budget should assure that adequate budget allocations are made available to carry out the programs prescribed in this Act. Declares that the Department of Justice should do what it can to facilitate procedures for exporters. Declares that the Small Business Administration should: (1) be aware of the benefits of export to small business development; and (2) use every opportunity to provide information and assistance to potential exporters. Declares that the U.S. ability to export coal, nuclear power fuels, and other energy materials in a reliable manner should be a key consideration. Directs Congressional committees to include in their reports the effect of the bill or resolution on the international competitiveness of the United States. Creates a National Export Council to: (1) serve as a national advisory body on matters relating to U.S. export trade; (2) act as a liaison among the communities represented by its membership; and (3) provide advice on Federal plans and actions that affect export promotion and development policies which have an impact on those communities represented by its membership. Requires the Council to make an annual report to the President and the Congress on its activities. Authorizes the Secretary of Commerce to appoint commercial ministers, counselors, and attaches with the rank and privileges of other ministers, counselors, and attaches in U.S. embassies and consulates, to: (1) provide trade and commercial services; (2) engage in the promotion of U.S. exports; (3) file semiannual reports to the Secretary on market, industrial, and commodity conditions in their districts and on the implementation of multilateral and bilateral trade agreements; and (4) maintain current data on the commercial standing and capacity of foreign firms within their districts. Provides for domestic assignment, office logistics, allowances and benefits of such ministers, counselors, and attaches. Directs the Comptroller General to report to Congress with any recommendations concerning: (1) the organization of international trading and financing programs in the United States; (2) the effectiveness of foreign export promotion programs; and (3) the trade activities of specified Federal agencies. Expresses the sense of Congress that the appropriate Congressional committees should review periodically the trade organization of the U.S. Government.
United States · United States Congress · 1 April 1981
Directs the President to award a special gold medal to Fred Waring. Stipulates that funds may not be appropriated under this Act for any period before October 1, 1981.
United States · United States Congress · 26 March 1981
Establishes a Special Joint Committee on the Centennial of the Birth of Franklin Delano Roosevelt. Directs that such committee shall be composed of sixteen Members of the Congress. Directs that such committee shall prepare an overall program for nationwide observances and make comprehensive plans for commemorating the one hundredth anniversary of the birth of Franklin Delano Roosevelt, including a joint session of Congress to be held on January 29, 1982. Provides that the expenses of such committee shall not exceed a specified amount to be paid from the contingent fund of the House of Representatives. Directs that upon termination of the committee one-half of its expenses shall be paid by transfer from the contingent fund of the Senate to the contingent fund of the House of Representatives. Provides that such committee shall terminate not later than April 30, 1982.
United States · United States Congress · 25 March 1981
Amends the Clayton Act to prohibit any foreign government from suing for damages for an injury caused by a violation of United States antitrust laws unless: (1) similar conduct was a violation of the laws of the foreign government during the same period and such laws were enforced; and (2) the United States may recover damages for a similar injury to its business or property under the laws of the foreign government. Limits the amount that a foreign government may recover to actual damages and the cost of the suit.
United States · United States Congress · 12 March 1981
Amends the highway safety programs uniform standards to include: (1) comprehensive alcohol-traffic safety programs; and (2) penalties to deter motorists from driving while under the influence of alcohol.
United States · United States Congress · 4 March 1981
Coal Utilization Incentives Act of 1981 - Title I: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to permit the amortization of coal utilization property, based on a 36- month period. Defines "coal utilization property" as tangible, depreciable property which is: (1) a boiler or burner, the primary fuel for which will be coal; or (2) pollution control equipment required for such boiler or burner; or (3) coal cleaning equipment. Allows an investment tax credit to public utilities for coal utilization property. Qualifies coal utilization property for the full investment tax credit allowed for pollution control facilities with a useful life of not less than five years. Excludes from gross income the interest income on industrial development bonds issued to provide financing of powerplant coal utilization capital expenditures. Title II: Coal Conversions Under the Clean Air Act - Amends the Clean Air Act to exclude as a modification a stationary source which voluntarily converts to coal (thereby excluding the source from new source performance standards).
United States · United States Congress · 4 March 1981
Directs the Secretary of Transportation to permit the placement of signs on United States Highway 19 to memorialize the New River Gorge Bridge, West Virginia.
United States · United States Congress · 3 March 1981
Fish Restoration Act of 1981 - Title I: Fish Restoration Program - Directs that Federal moneys apportioned to a coastal State for aid in fish restoration and management be equitably allocated by such a State between marine and fresh water fish projects. Amends the Federal Aid in Sport Fish Restoration Act to: (1) define the term "coastal State" for the purposes of such Act; (2) authorize appropriations in the amount equal to the revenue accruing from taxes relating to sport fishing equipment and certain recreational boats and boating equipment during fiscal year 1980 and each fiscal year thereafter; (3) increase the percentage of the annual appropriation deducted for administrative expenses; (4) eliminate the notification by a State of intent to accept such apportionment funds requirements; (5) authorize the Secretary of the Interior to finance up to 75 percent of the costs of the acquisition of lands or interests therein and the construction of structures or facilities; and (6) permit each State to utilize up to ten percent of its apportionment for an aquatic resource education program. Title II: Tax on Sale of Sport Fishing Equipment and Certain Recreational Boats and Boating Equipment - Amends the Internal Revenue Code to impose a tax on the sale by the manufacturer, producer, or importer of any article of sport fishing equipment, recreational boats, and boating equipment.
United States · United States Congress · 3 March 1981
Amends the Internal Revenue Code to reduce the excise tax on large cigars for fiscal years 1982 and 1983 and eliminate the tax thereafter. Revises the formula for determination of the wholesale price on which the excise tax is based.
United States · United States Congress · 2 March 1981
Amends the Rules of the House of Representatives to add a new Rule to require that remarks made by Members on the floor must be related to governmental matters to be in the Congressional Record. Exempts remarks on the death of a present or former Federal official from such standard.
United States · United States Congress · 25 February 1981
Amends the Buy American Act to require heads of Federal agencies, when evaluating bids for public contracts, to adjust the offered prices for foreign products by adding 50 percent to such prices excluding duty, or by adding six percent to the prices including duty, whichever is greater. Prohibits an agency from providing financial assistance to any person, State, or local government for the acquisition of products for public use unless such persons or government agrees to make such adjustments to the offered prices of foreign products.
United States · United States Congress · 24 February 1981
Amends the Federal criminal code to establish penalties for taking or attempting to take by force and violence or intimidation a controlled substance from a pharmacy. Increases the penalties if any person's life is endangered by use of a dangerous weapon or if any person is assaulted or killed during commission of such offense. Directs the Federal Bureau of Investigation to include pharmacy robbery data in its annual Uniform Crime Reports. Directs the Attorney General to report to Congress on the enforcement of this Act within 120 days of enactment and biannually for the subsequent three-year period.
United States · United States Congress · 23 February 1981
Exempts nonprofit veterans' organizations and nonprofit fraternal organizations from the requirement that nondramatic literary or musical performance royalties be paid to copyright holders.
United States · United States Congress · 23 February 1981
Expresses the sense of the Congress that legislation providing for withholding of Federal income tax from dividends and interest should not be enacted.
United States · United States Congress · 19 February 1981
Amends the Internal Revenue Code to provide homebuilders with an income tax credit for the construction of residences which incorporate a passive solar energy system. Directs the Secretary of the Treasury, after consultation with the Secretaries of Energy and Housing and Urban Development, to prescribe regulations setting forth a solar construction credit table for purposes of determining the amount of the credit for which the incorporator of the solar energy system is eligible. Limits the dollar amount of such credit to $2,000 for calendar years prior to 1987 and phases out the amount of the credit by $500 decrements until 1990 when such credit terminates. Defines a "passive solar energy system" as a system which contains a solar collection area, an absorber, a storage mass, a heat distribution method, and heat regulation devices. Requires such system to be installed in a new residence after September 30, 1981, and before January 1, 1990.
United States · United States Congress · 18 February 1981
Patent Term Restoration Act of 1981 - Amends the patent law to extend the terms of patents which encompass specified products or a method for using a product any of which are subject to certain nonpatent regulatory review periods. Sets forth the terms and conditions of such extension, including a seven year limitation. Directs the Commissioner of Patents to issue to the owner of record of a patent a certificate of extension stating the fact and length of the extension and identifying the product and the use and the claim to which such extension is applicable. Makes such certificate a part of the original patent. Limits the application of such patent term extension to patents for products subject to regulation under the Federal Food, Drug, and Cosmetic Act, the Public Health Service Act, the Federal Insecticide, Fungicide, and Rodenticide Act, the Toxic Substances Control Act, and the Act of March 4, 1913 (relating to virus, serum, toxin, and analogous products).
United States · United States Congress · 18 February 1981
World War I Veterans Service Pension Act of 1981 - Requires the Administrator of Veterans' Affairs to pay (in addition to any pension already paid) a monthly pension of $150: (1) to each veteran of World War I who meets specified service requirements; (2) to the surviving spouse of each such veteran; or (3) when there is no surviving spouse, to the child or children of each such veteran.
United States · United States Congress · 18 February 1981
Emergency Home Purchase and Inventory Reduction Act of 1981 - Amends the Internal Revenue Code to allow individual taxpayers a refundable income tax credit for five percent of the purchase of a new principal residence. Limits the dollar amount of such credit to $5,000. Specifies that such credit is available with respect to only one residence of the taxpayer. Requires the recapture of credit amounts for the purchase of a new principal residence if such residence is sold within 36 months after the date of acquisition.
United States · United States Congress · 17 February 1981
Amends the Clean Air Act to direct the Administrator of the Environmental Protection Agency to: (1) continue ozone protection studies and research while increasing actual measurements of stratospheric ozone and improving methods of monitoring potential trends in such measurements; and (2) contract with the National Academy of Sciences, in consultation with the Administrators of the National Oceanic and Atmospheric Administration and the National Aeronautics and Space Administration, to (a) continue review and research, (b) determine the extent, nature, and causes of changes in stratospheric ozone concentration (with particular attention to the effects of chlorofluorocarbons), (c) investigate unreasonable effects on health and the environment, and (d) report to the Administrator and the Congress. Directs the Administrator to report, with recommendations, to the Congress at the end of a 24-month period. Prohibits the commencement or continuation of rulemaking by the Administrator with respect to regulations for the control in the United States of any chlorofluorocarbon until: (1) the Administrator, the Academy, and the President have submitted specified reports to the Congress; or (2) the Administrator determines that stratospheric ozone depletion by chlorofluorocarbons at a rate eventually harmful to human health and the environment has actually been detected. Directs the Administrator to withdraw any such rulemaking commenced after January 1, 1981, and before the date of enactment of this Act, and declares that such rulemaking has no force or effect. Requires that such final regulations be submitted to the Congress and only take effect if both Houses of Congress do not adopt a concurrent resolution of disapproval within a specified period. Sets forth procedures relating to such resolutions. Requires that continuing research and monitoring programs be expanded to determine the extent, nature, causes, effects, and associated uncertainties of stratospheric ozone concentration changes. Directs the President, within two years from the date of enactment of this Act and annually thereafter, to report to the Congress and the public on efforts to reach international agreements among the major free-world countries producing chlorofluorocarbons as to the nature, extent, and implications of any threat to the concentration of ozone in the stratosphere and the appropriate regulatory action to be taken. Prohibits States or local governments from adopting or attempting to enforce any regulations (except ones controlling halocarbon use as an aerosol propellant) respecting the control of chlorofluorocarbons to protect the stratosphere or stratospheric ozone until the Administrator has promulgated such regulations for such control in the United States. Provides that this Act shall not affect the validity of regulations concerning aerosol propellants containing chlorofluorocarbons promulgated by the Administrator before January 1, 1981.
United States · United States Congress · 6 February 1981
Steel Industry Compliance Extension Act of 1981 - Amends the Clean Air Act to authorize the Administrator of the Environmental Protection Agency to extend the date for compliance with emission limitation requirements by owners or operators of a stationary source in an iron and steel producing operation if: (1) the compliance date extension is necessary to allow the applicant to make capital investments in its operations to improve efficiency and productivity; (2) the funds freed by such extension will be used within two years for additional capital investments in the applicant's operations; (3) the Administrator and the applicant agree to a phased compliance program for each of the applicant's stationary sources; (4) the applicant has sufficient funds to comply with such program; (5) the applicant is in compliance with any existing Federal decrees applicable to its operations; and (6) the compliance date extension will not result in the degradation of air quality during the extension term. Prohibits the imposition of a noncompliance penalty under the Clean Air Act upon an owner or operator with a compliance date extension provided their stationary source remains in compliance with all the requirements of such extension. Makes available to the public all information obtained by the Administrator under this Act, subject to a specified exception. States that revision of a State implementation plan is not required because a compliance date extension has been granted if such plan would have met Clean Air Act requirements prior to the granting of such extension.
United States · United States Congress · 5 February 1981
Directs the Secretary of Health and Human Services, acting through the National Institute of Arthritis, Metabolism, and Digestive Diseases, to: (1) conduct a clinical investigation of the safety and efficacy of dimethyl sulfoxide as a drug to be used by persons with arthritis; and (2) report to Congress within one year of enactment of this Act.
United States · United States Congress · 5 February 1981
Amends the Internal Revenue Code to permit married individuals filing separate income tax returns an election to be taxed at rates applicable to unmarried individuals.
United States · United States Congress · 2 February 1981
Free Enterprise Postage Stamp Act - Establishes a Free Enterprise Postage Stamp Advisory Committee consisting of the Postmaster General, the Deputy Postmaster General, and the Chairman of the Federal Trade Commission. Directs the Committee to advise the United States Postal Service regarding the approval of bids for the printing, distribution, and sale of postage stamps containing the logos of domestic business enterprises. Authorizes the Postal Service to enter into contracts to print, distribute, and sell 2,000 issues of 50,000 of such stamps for domestic business enterprise for a minimum price of $10,000 each. Sets forth the specifications for acceptable business logos. Requires the Committee to advertise the availability of such stamps, review the bids received for each issue, and recommend the bids which would be the most economically advantageous to the Postal Service. Directs the Committee and the Postal Service to reject all bids for an issue if such action is in the public interest. Declares that all of the revenues from the sale of such stamps shall be deposited into the Postal Service Fund. Requires the Postal Service to report to Congress on the effectiveness of the sale of such stamps in raising revenues.
United States · United States Congress · 2 February 1981
Amends the National Flood Insurance Act of 1968 to include insurance coverage for damage caused by flood-related landslides. Directs the Federal Insurance Administrator, within one year of enactment of this Act, to report to Congress on the feasibility of insuring property which is located outside of, but on the same real estate lot as, a currently insured residential structure. Directs the Secretary of Housing and Urban Development to pay to any person who, during a specified period prior to enactment of this Act, incurred property damage caused by a flood-related landslide. Provides that such amount equal the amount payable if such damage had been covered by such insurance. Authorizes appropriations.
United States · United States Congress · 28 January 1981
Small Business Motor Fuel Marketer Preservation Act of 1981 - Amends the Small Business Act to authorize the Small Business Administration (SBA) to make loans to small businesses acquiring gas stations from a refiner. Makes it unlawful for a refiner, other than an independent or small refiner, to operate a gas station in the United States. Requires a refiner, in disposing of any interest in a station, to offer a right of first refusal to the dealer. Sets forth requirements governing such an offer, including use of an independent appraisal meeting standards set by the SBA. Makes it unlawful for any refiner to exceed specified limitations on annual motor fuel sales. Makes it unlawful for any supplier to sell motor fuel at any time at any point of transfer at different prices. Stipulates that withholding of available fuel from a purchaser for resale at a lower price to a supplier-operated station shall constitute a violation. Permits price differentials which reflect manufacturing, sale, or delivery costs, or which are offered in good faith to meet competitive price reductions. Stipulates that a refiner may charge purchasers of motor fuel a uniform surcharge for use of a trademark or other identifying symbol. Makes it unlawful for any person to interfere in any way with the purchasing, selling, or storing of motor fuel by a dealer. Permits contracts requiring a dealer to purchase motor fuel exclusively from a particular dealer or supplier, if such contract assures the dealer the right to purchase fuel elsewhere if the refiner does not have such fuel readily available. Makes it unlawful for any dealer at a station displaying a trademark or identifying symbol of a particular refiner to sell motor fuel not refined by such refiner without providing notice to purchasers. Requires each refiner within 90 days of enactment and annually thereafter to provide to the Federal Trade Commission information regarding the number of: (1) gallons of motor fuel sold at its U.S. stations during the preceding year; (2) gallons of motor fuel manufactured in the United States during the preceding year; and (3) barrels of crude oil produced and refined during the preceding year. Sets forth fines for violations of this Act. Permits civil actions to be brought by the FTC or private parties against violators. Directs the FTC and the Small Business Administration to prescribe regulations required by this Act.
United States · United States Congress · 28 January 1981
Amends rule X of the Rules of the House of Representatives to establish the Committee on Internal Security with jurisdiction over communist, terrorist, and other subversive activities. Removes such jurisdiction from the Judiciary Committee. Transfers to the Internal Security Committee all of its property under the control of the Judiciary Committee or any other government agency.
United States · United States Congress · 28 January 1981
Commends former President Jimmy Carter, former Secretary of State Edmund Muskie, and former Deputy Secretary of State Warren Christopher for their success in securing the release of the American hostages held in Iran. Conveys appreciation to the Algerian negotiators for the role they played in resolving the hostage crises. Pays tribute to the eight servicemen killed in the April 1980 effort to rescue the American hostages. Commends President Reagan for designating former President Carter to officially greet the freed hostages.
United States · United States Congress · 23 January 1981
Savings and Retirement Income Incentive Act of 1981 - Amends the Crude Oil Windfall Profit Tax Act of 1980 to make permanent the income tax exclusion for dividend and interest income. Increases such tax exclusion for persons over age 65 to $500 ($1,000 for joint returns). Amends the Internal Revenue Code to increase to $2,000 the amount of the income tax deduction for contributions to individual retirement accounts. Eliminates the prohibition against certain pension plan participants (e.g. government and military personnel) from making deductible contributions to individual retirement accounts. Increases the amount of nondeductible contributions which an individual may make to an individual retirement account in a taxable year and over such individual's lifetime. Permits contributors to an individual retirement account to withdraw from such an account up to $10,000, without tax penalty, in order to purchase a first home or finance the higher education of a dependent child. Allows an income tax deduction for voluntary employee contributions to tax-qualified employer pension and annuity plans.
United States · United States Congress · 22 January 1981
Capital Cost Recovery Act of 1981 - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Permits calculation of the investment tax credit for such property without regard to the useful life of the property. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits a taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year.
![Official portrait of Rep. Mollohan, Robert H. [D-WV-1]](https://www.congress.gov/img/member/m000845_200.jpg)