United States · United States Congress · 16 July 1981
Mineral Lands Leasing Amendment of 1981 - Amends the Mineral Leasing Act to prohibit, for a specified period, any foreign person from acquiring more than five percent of the voting securities in a United States mineral resources corporation. Directs the Secretary of the Interior to report to Congress concerning indirect foreign investment in mineral resources on U.S. lands.
United States · United States Congress · 15 July 1981
Airline Deregulation Amendments Act of 1981 - Amends the Federal Aviation Act of 1958 to modify the definition of "ticket agent" as used in such Act. Directs air carriers to file with the Civil Aeronautics Board until December 31, 1982, individual and joint fares and charges, classifications, rules, and services for or in connection with interstate and overseas passenger air transportation. Requires that such filings shall be made with the Secretary of Transportation between January 1, 1983, and December 31, 1984. Prohibits air carriers and ticket agents from charging or collecting greater or less or different compensation than that specified in such filings. Transfers the authority of the Board relating to foreign air transportation to the Department of Transportation. Accelerates to January 1, 1983, the transfer of specified authority of the Board. Allows the Board to approve any contract or agreement that reduces or eliminates competition if it finds that the contract or agreement is necessary to secure important public benefits, including the marketing and sale of transportation through ticket agents. Sets forth the expiration dates for specified authority of the Secretary relating to contract approvals. Revises the expiration date and contents of the Secretary's (currently the Board's) report to Congress concerning the implementation of such Act. Prohibits the Board from issuing any final order or rule in regard to agreements among air carriers and agreements among foreign air carriers insofar as those agreements provide for the accreditation and supervision of travel agents. Directs the Board to forward the recommendations and analyses concerning such proceedings to the Secretary for final disposition. Prohibits the Board and the Department from attaching an expiration date on any certificate of public convenience and necessity. Deletes provisions concerning the issuance of such certificates for temporary authority to provide air transportation. Requires that each air carrier or foreign air carrier shall keep on file with the Board after January 1, 1983, the established divisions of all joint rates, fares, and charges for air transportation in which such carrier participates.
United States · United States Congress · 15 July 1981
Prohibits the inclusion of the receipts and disbursements of the social security trust funds (the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund) in the totals of the Federal budget, and exempts them from any general statutory limitation on Federal budget outlays. Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to permit the Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund to make loans to the other Funds, prior to fiscal year 1991, whenever one of the Funds falls below 20 percent of its disbursements for the 12 months preceding the borrowing. Provides for the repayment of such loans.
United States · United States Congress · 15 July 1981
Directs the Secretary of the Treasury to pay a specified sum to a named individual in full satisfaction of a claim against the United States arising out of the condemnation by the United States of certain lands.
United States · United States Congress · 14 July 1981
Amends the Congressional Budget Act of 1974 to require a two-thirds vote of both Houses of Congress for the adoption of a budget resolution which includes or would result in a Federal deficit of more than two percent. Requires any such resolution to contain language which: (1) affirms the necessity of, and the specific amount of, the deficit; or (2) provides that an amount equal to the deficit is to be carried over to future fiscal years, when budget outlays shall be increased by an equal amount. Makes these provisions inapplicable in time of war or other national emergency declared by Congress.
United States · United States Congress · 10 July 1981
Senior Citizens Olympic Athletic Programs Act - Authorizes the U.S. Olympic Committee to encourage and assist amateur athletic programs for senior citizens.
United States · United States Congress · 9 July 1981
California Wilderness Act of 1981 - Designates as components of the National Wilderness Preservation System the following lands in the State of California: (1) the Boundary Peak Wilderness in the Inyo National Forest; (2) the Caliente Wilderness in the Cleveland National Forest; (3) the Caples Creek Wilderness in the Eldorado National Forest; (4) the Caribou Wilderness Additions in the Lassen National Forest; (5) the Carson - Iceberg Wilderness in the Stanislaus and Toiyabe National Forests; (6) the Castle Crags Wilderness in the Shasta Trinity National Forest; (7) the Chancelulla Wilderness in the Shasta Trinity National Forest; (8) the Cinder Buttes Wilderness in the Lassen National Forest; (9) the Cucamonga Wilderness Additions in the Angeles National Forest; (10) the Deep Wells Wilderness in the Inyo National Forest; (11) the Dick Smith Wilderness in the Los Padres National Forest; (12) the Dinkey Lakes Wilderness in the Sierra National Forest; (13) the Domeland Wilderness Additions in the Sequoia National Forest; (14) the Emigrant Wilderness Additions in the Stanislaus National Forest; (15) the Excelsior Wilderness in the Inyo National Forest; (16) the Fish Canyon Wilderness in the Angeles National Forest; (17) the Granite Chief Wilderness in the Tahoe National Forest; (18) the Granite Peak Wilderness in the San Bernardino National Forest; (19) the Hauser Wilderness in the Cleveland National Forest; (20) the Hoover Wilderness Additions in the Toiyabe National Forest; (21) the Ishi Wilderness in and adjacent to the Lassen National Forest; (22) the John Muir Wilderness Additions in the Inyo and Sierra National Forests; (23) the Lassen Volcanic Wilderness Additions in the Lassen National Forest; (24) the Marble Mountain Wilderness Additions in the Klamath National Forest; (25) the Minarets Wilderness Additions in the Sierra and Inyo National Forests; (26) the Mokelumne Wilderness Additions in the Eldorado, Stanislaus, and Toiyabe National Forests; (27) the Monarch Wilderness in the Sierra and Sequoia National Forests; (28) the Mt. Shasta Wilderness in the Shasta Trinity National Forest; (29) the North Fork Wilderness in the Six Rivers National Forest; (30) the Pattison Wilderness in the Shasta Trinity National Forest; (31) the Pine Creek Wilderness in the Cleveland National Forest; (32) the Pyramid Peak Wilderness in the San Bernardino National Forest; (33) the Red Buttes Wilderness in the Klamath and Rogue River National Forests; (34) the Russian Peak Wilderness in the Klamath National Forest; (35) the San Gorgonio Wilderness Additions in the San Bernardino National Forest; (36) the San Jacinto Wilderness Additions in the San Bernardino National Forest; (37) the San Joaquin Wilderness in the Sierra and Inyo National Forests and the Devils Postpile National Monument; (38) the San Mateo Canyon Wilderness in the Cleveland National Forest; (39) the San Rafael Wilderness Additions in the Los Padres National Forest; (40) the Santa Rosa Wilderness in the San Bernardino National Forest; (41) the Scodies Wilderness in and adjacent to the Sequoia National Forest; (42) the Sheep Mountain Wilderness in the Angeles and San Bernardino National Forests; (43) the Sill Hill Wilderness in the Cleveland National Forest; (44) the Siskiyou Wilderness in the Six Rivers, Klamath, and Siskiyou National Forests; (45) the Snow Mountain Wilderness in the Mendocino National Forest; (46) the South Sierra Wilderness in the Sequoia and Inyo National Forests; (47) the South Warner Wilderness Additions in the Modoc National Forest; (48) the Thousand Lakes Wilderness Additions in the Lassen National Forest; (49) the Timbered Crater Wilderness in and adjacent to the Lassen National Forest; (50) the Trinity Alps Wilderness in and adjacent to the Klamath, Shasta Trinity, and Six Rivers National Forests; (51) the Ventana Wilderness Additions in the Los Padres National Forest; and (52) the Yolla - Bolly Middle Eel Wilderness Additions in and adjacent to the Six Rivers and Mendocino National Forests. Abolishes the previous classifications of the High Sierra Primitive Area, the Emigrant Basin Primitive Area, and the Salmon - Trinity Alps Primitive Area. Directs the Secretary of Agriculture to review and report to the President on the suitability for preservation as wilderness of the Monache Wilderness Study Area in the Sequoia National Forest and the North Mountain Planning Area in the Stanislaus National Forest. Requires the Secretary to maintain their presently existing wilderness character. Requires that timber volumes within the North Mountain Planning Area be included in the base used to determine potential yield for the Stanislaus National Forest. Directs the Secretary to acquire any privately owned lands within the Trinity Alps, Granite Chief, Castle Crags, and Mount Shasta Wilderness areas designated by this Act. Adds the following lands to the National Park System: (1) the North Mountain Addition in the Stanislaus National Forest (to be incorporated into Yosemite National Park); (2) the Mt. Raymond Addition in the Sierra National Forest (to be incorporated into Yosemite National Park); and (3) the Jennie Lakes Addition in the Sequoia National Forest (to be incorporated into Kings Canyon National Park). Requires the Secretary of the Interior to study, and make recommendations to the Congress on, the possible designation of such lands as national park wilderness. Directs the Secretary of Agriculture to transfer to the jurisdiction of the Secretary of the Interior specified land in the Stanislaus National Forest for administration as part of Yosemite National Park. Directs the Secretary of the Interior to transfer to the jurisdiction of the Secretary of Agriculture specified land in the Sierra National Forest. Designates the following lands as wilderness: (1) the Yosemite Wilderness in Yosemite National Park; and (2) the Sequoia - Kings Canyon Wilderness in the Sequoia - Kings Canyon National Park. Requires the lands which have been added to the National Park System by this Act and which represent potential wilderness additions to be designated wilderness upon notice that all uses thereon prohibited by the Wilderness Act have ceased. Directs the Secretary of Agriculture to review and report to the President on the suitability for preservation as wilderness of the Eightmile and Blue Creek Planning Areas in the Six Rivers and Klamath National Forests and the Orleans Mountain Planning Area in the Six Rivers National Forest. Requires the Secretary to conduct a special study on the suitability of the Ski Study Area in the Orleans Mountain Planning Area for an alpine ski facility. Directs the Secretary to maintain the presently existing wilderness character of such planning areas. Requires that timber volumes within such planning areas be included in the base used to determine potential yield for the national forests concerned. Subjects certain mining activities within the North Fork Smith roadless area only to Federal laws and regulations for national forest lands designated as nonwilderness. Requires that the Dillon Creek Further Planning Area in the Klamath National Forest be considered for all uses during the preparation of a forest plan for such forest. Prohibits activities which may reduce the wilderness potential of such land during such time. Requires the designation of such planning area for the use recommended to Congress unless Congress enacts legislation to the contrary within a specified time.
United States · United States Congress · 9 July 1981
Consulting Reform and Disclosure Act of 1981 - Title I: Appointments - Permits the head of a Federal agency (excluding the General Accounting Office) to appoint and fix the compensation of experts or consultants for temporary or intermittent services, rather than to procure such services by contract. Establishes the pay rate for GS-18 as the maximum pay rate for experts and consultants for all agencies. Directs the Office of Personnel Management (OPM) to prescribe regulations governing the employment of experts and consultants by Federal agencies. Requires each agency: (1) to report periodically to OPM the number of days each consultant or expert is employed and the amount each individual is paid; and (2) to count such individuals as fractions of persons (depending on the number of hours they are employed) in administering any personnel ceiling. Prohibits an agency from initiating any action to obtain consultant or expert services by contract unless it has been certified that all reasonable steps have been taken to obtain such services by appointment. Title II: Contracts - Requires each Federal agency to transmit: (1) to the Secretary of Commerce for publication in the "Commerce Business Daily" a notice describing any proposed contract for consulting services, management and professional services, or a special study or analysis (service contract) expected to result in an award exceeding $10,000; and (2) to the agency Inspector General a notice describing and justifying any contract modification which increases the cost by $25,000 or more. Requires that any report prepared pursuant to a service contract and any agency report derived from such report disclose specified information concerning the contract and contractor. Directs each agency to prepare and maintain in its files an evaluation of the performance of the contractor for each service contract exceeding $50,000. Requires any contractor and any consultant or subcontractor thereof to include with any service contract proposal or modification submitted to the Department of Energy, the Department of Transportation, or the Environmental Protection Agency within three years after enactment of this Act or to any agency thereafter a statement disclosing any past, present, or future work-related interest of the contractor which may bias the contractor's judgement or provide the contractor an unfair competitive advantage. Directs the head of each such agency to designate an office to evaluate such statements. Declares that if the office determines that a conflict of interest exists, the agency head shall: (1) disqualify the contractor of the consultant or subcontractor from eligibility for award of the proposed contract; (2) modify the proposed contract to eliminate such conflict; (3) include in the agency records and transmit to Congress a statement concerning such conflict if the contract services can be obtained from no other person; (4) terminate the existing contract; or (5) modify the existing contract to mitigate the conflict and report to Congress if termination is not in the best interest of the Government. Directs each agency to include with its request for appropriations each year a statement identifying amounts requested for: (1) the procurement of consulting and professional services and special studies; (2) the procurement of other services; and (3) all other procurement activities. Requires the annual budget transmitted by the President to Congress to include such requests for each agency, each agency's estimated outlays for such procurement, and a statement justifying such requests and outlays. Directs the Administrator for Federal Procurement Policy to establish a data system for the collection of information regarding all contracts of each agency. Requires the Administrator to make quarterly and annual reports to Congress on the information in the system on each agency. Requires each agency to: (1) compile quarterly a list of all contracts entered into by the agency in the last year and a list of all uncompleted contracts; (2) maintain a written justification of the need of each service contract; and (3) make such lists and statements available to the public. Declares that all contracts, excluding classified contracts, shall be considered public information. Directs an agency to consider an employee's compliance with agency rules and procedures applicable to contracting functions when: (1) evaluating the performance of a member of the Senior Executive Service; and (2) determining any pay increase for a supervisor or manager under the merit pay system.
United States · United States Congress · 9 July 1981
Amends the Internal Revenue Code to allow the percentage depletion allowance for any geothermal energy source (currently, such energy must be in "deposits"). Qualifies for the residential energy credit and the investment tax credit all of the equipment of a system using both geothermal energy and a source not eligible for a credit if geothermal energy provides more than 80 percent of the energy for which the system was designed. Allows such credits for portions of such systems which produce, distribute, or use a source of energy which is at least 50 percent geothermal energy.
United States · United States Congress · 9 July 1981
Amends the National School Lunch Act to require schools participating in the school lunch program to provide a nutritionally superior lunch to its students. Lists the food in such lunches and bans the sale of sweets on school premises. Provides that such schools should establish a nutrition council to oversee, and recommend ways to improve, such program.
United States · United States Congress · 26 June 1981
Amends the Mineral Leasing Act to revise the authority of the Secretary of the Interior to lease lands containing oil shale deposits. Permits such leases to exceed 5,120 acres of land if necessary to permit long-term commercial operations. Increases the number of leases which may be held to two in any State and four nationwide. Permits the acquisition of one additional lease in a State by a lessee who has achieved commercial production in both existing leases and is within ten years of exhausting the reserves on one of the leases. Authorizes the unlimited issuance of leases to avoid bypassing small acreages of oil shale resources which otherwise could not be mined economically. Authorizes the Secretary to lease additional lands required in support of operations necessary for the recovery of oil shale. Includes within such operations the disposal of oil shale waste and the building of facilities; but excludes the removal of any mineral deposits. Authorizes the Secretary to issue leases for additional lands after considering the need for such lands, the environmental impact, and determining that the public interest will be served. States that a lease shall include lands the Secretary determines are necessary to achieve the purposes for which the lease is issued and shall contain provisions needed to protect environmental and other resource values. Sets forth guidelines for other lease provisions, including rent and duration.
United States · United States Congress · 26 June 1981
California Wilderness Act of 1981 - Designates as components of the National Wilderness Preservation System the following lands in the State of California: (1) the Boundary Peak Wilderness in the Inyo National Forest; (2) the Caliente Wilderness in the Cleveland National Forest; (3) the Caples Creek Wilderness in the Eldorado National Forest; (4) the Caribou Wilderness Additions in the Lassen National Forest; (5) the Carson - Iceberg Wilderness in the Stanislaus and Toiyabe National Forests; (6) the Castle Crags Wilderness in the Shasta Trinity National Forest; (7) the Chancelulla Wilderness in the Shasta Trinity National Forest; (8) the Cinder Buttes Wilderness in the Lassen National Forest; (9) the Cucamonga Wilderness Additions in the Angeles National Forest; (10) the Deep Wells Wilderness in the Inyo National Forest; (11) the Dick Smith Wilderness in the Los Padres National Forest; (12) the Dinkey Lakes Wilderness in the Sierra National Forest; (13) the Domeland Wilderness Additions in the Sequoia National Forest; (14) the Emigrant Wilderness Additions in the Stanislaus National Forest; (15) the Excelsior Wilderness in the Inyo National Forest; (16) the Fish Canyon Wilderness in the Angeles National Forest; (17) the Granite Chief Wilderness in the Tahoe National Forest; (18) the Granite Peak Wilderness in the San Bernardino National Forest; (19) the Hauser Wilderness in the Cleveland National Forest; (20) the Hoover Wilderness Additions in the Toiyabe National Forest; (21) the Ishi Wilderness in and adjacent to the Lassen National Forest; (22) the John Muir Wilderness Additions in the Inyo and Sierra National Forests; (23) the Lassen Volcanic Wilderness Additions in the Lassen National Forest; (24) the Marble Mountain Wilderness Additions in the Klamath National Forest; (25) the Minarets Wilderness Additions in the Sierra and Inyo National Forests; (26) the Mokelumne Wilderness Additions in the Eldorado, Stanislaus, and Toiyabe National Forests; (27) the Monarch Wilderness in the Sierra and Sequoia National Forests; (28) the Mt. Shasta Wilderness in the Shasta Trinity National Forest; (29) the North Fork Wilderness in the Six Rivers National Forest; (30) the Pattison Wilderness in the Shasta Trinity National Forest; (31) the Pine Creek Wilderness in the Cleveland National Forest; (32) the Pyramid Peak Wilderness in the San Bernardino National Forest; (33) the Red Buttes Wilderness in the Klamath and Rogue River National Forests; (34) the Russian Peak Wilderness in the Klamath National Forest; (35) the San Gorgonio Wilderness Additions in the San Bernardino National Forest; (36) the San Jacinto Wilderness Additions in the San Bernardino National Forest; (37) the San Joaquin Wilderness in the Sierra and Inyo National Forests and the Devils Postpile National Monument; (38) the San Mateo Canyon Wilderness in the Cleveland National Forest; (39) the San Rafael Wilderness Additions in the Los Padres National Forest; (40) the Santa Rosa Wilderness in the San Bernardino National Forest; (41) the Scodies Wilderness in and adjacent to the Sequoia National Forest; (42) the Sheep Mountain Wilderness in the Angeles and San Bernardino National Forests; (43) the Sill Hill Wilderness in the Cleveland National Forest; (44) the Siskiyou Wilderness in the Six Rivers, Klamath, and Siskiyou National Forests; (45) the Snow Mountain Wilderness in the Mendocino National Forest; (46) the South Sierra Wilderness in the Sequoia and Inyo National Forests; (47) the South Warner Wilderness Additions in the Modoc National Forest; (48) the Thousand Lakes Wilderness Additions in the Lassen National Forest; (49) the Timbered Crater Wilderness in and adjacent to the Lassen National Forest; (50) the Trinity Alps Wilderness in and adjacent to the Klamath, Shasta Trinity, and Six Rivers National Forests; (51) the Ventana Wilderness Additions in the Los Padres National Forest; and (52) the Yolla - Bolly Middle Eel Wilderness Additions in and adjacent to the Six Rivers and Mendocino National Forests. Abolishes the previous classifications of the High Sierra Primitive Area, the Emigrant Basin Primitive Area, and the Salmon - Trinity Alps Primitive Area. Directs the Secretary of Agriculture to review and report to the President on the suitability for preservation as wilderness of the Monache Wilderness Study Area in the Sequoia National Forest and the North Mountain Planning Area in the Stanislaus National Forest. Requires the Secretary to maintain their presently existing wilderness character. Requires that timber volumes within the North Mountain Planning Area be included in the base used to determine potential yield for the Stanislaus National Forest. Directs the Secretary to acquire any privately owned lands within the Trinity Alps, Granite Chief, Castle Crags, and Mount Shasta Wilderness areas designated by this Act. Adds the following lands to the National Park System: (1) the North Mountain Addition in the Stanislaus National Forest (to be incorporated in Yosemite National Park); (2) the Mt. Raymond Addition in the Sierra National Forest (to be incorporated in Yosemite National Park); and (3) the Jennie Lakes Addition in the Sequoia National Forest (to be incorporated in Kings Canyon National Park). Requires the Secretary of the Interior to study, and make recommendations to the Congress on, the possible designation of such lands as national park wilderness. Directs the Secretary of Agriculture to transfer to the jurisdiction of the Secretary of the Interior specified land in the Stanislaus National Forest for administration as part of Yosemite National Park. Directs the Secretary of the Interior to transfer to the jurisdiction of the Secretary of Agriculture specified land in the Sierra National Forest. Designates the following lands as wilderness: (1) the Yosemite Wilderness in Yosemite National Park; and (2) the Sequoia - Kings Canyon Wilderness in the Sequoia - Kings Canyon National Park. Requires the lands which have been added to the National Park System by this Act and which represent potential wilderness additions to be designated wilderness upon notice that all uses thereon prohibited by the Wilderness Act have ceased. Directs the Secretary of Agriculture to review and report to the President on the suitability for preservation as wilderness of the Eightmile and Blue Creek Planning Areas in the Six Rivers and Klamath National Forests and the Orleans Mountain Planning Area in the Six Rivers National Forest. Requires the Secretary to conduct a special study on the suitability of the Ski Study Area in the Orleans Mountain Planning Area for an alpine ski facility. Directs the Secretary to maintain the presently existing wilderness character of such planning areas. Requires that timber volumes within such planning areas be included in the base used to determine potential yield for the national forests concerned. Subjects certain mining activities within the North Fork Smith roadless area only to Federal laws and regulations for national forest lands designated as nonwilderness. Exempts the second roadless area review and evaluation program (RARE II) final environmental statement from judicial review with respect to national forest system lands in California. Provides that, upon enactment of this Act, the injunction issued in State of California versus Bergland shall no longer be in force. States that the RARE II is, for purposes of the initial land management plans required by Federal law for national forest lands, an adequate consideration of the suitability of such lands for wilderness designation, and the wilderness option need not be reviewed prior to revision of the initial plans or to the completion date of the initial planning cycle. Provides that areas reviewed in the RARE II and not designated as wilderness by this Act or remaining in further planning need not be protected for wilderness designation pending such revision. Prohibits any further roadless area review and evaluation of national forest system lands in California without express Congressional authorization. Requires that the Dillon Creek Further Planning Area in the Klamath National Forest be considered for all uses during the preparation of a forest plan for such forest. Prohibits activities which may reduce the wilderness potential of such land during such time. Requires the designation of such planning area for the use recommended to Congress unless Congress enacts legislation to the contrary within a specified time.
United States · United States Congress · 26 June 1981
Amends the Housing and Community Development Act of 1974 to delegate to the Secretary of Agriculture authority to administer Federal assistance for community development programs involving units of local government and Indian tribes outside metropolitan areas or within such an area if the Secretary of Housing and Urban Development determines that the location is rural in nature and best served by the Farmers Home Administration (nonmetropolitian areas). Requires that 20 percent of the special discretionary fund set aside for housing and community development grants by the Secretary of HUD be used by the Secretary of Agriculture for making such grants for nonmetropolitan areas. Authorizes the Secretary of Agriculture to make rural development action grants to nonmetropolitan counties (which include portions of counties outside metropolitan areas). Delegates to the Secretary of Agriculture the authority to administer specified Federal assistance programs for lower income housing in nonmetropolitan areas. Amends the Housing Act of 1959 to direct the Secretary of HUD to delegate to the Secretary of Agriculture the authority to make loans for the provision of rental or cooperative housing for elderly or handicapped families in nonmetropolitan areas. Amends the National Housing Act to delegate to the Secretary of Agriculture the authority to insure loans for home improvements and mortgages in nonmetropolitan areas. Directs the Secretary of HUD to transfer to the Secretary of Agriculture for use in rural areas and small towns 25 percent of the total authority of the HUD Secretary to contract for: (1) mortgage assistance payments for low income homeowners; and (2) mortgage interest reduction payments on behalf of owners of rental housing projects for lower income families. Authorizes appropriations.
United States · United States Congress · 25 June 1981
Amends the Federal Food, Drug, and Cosmetic Act to state that a food intended for human consumption shall be deemed misbranded unless it is labeled to show the amount of sodium and potassium it contains when in excess of a certain amount of milligrams. Permits the Secretary of Health and Human Services to exempt a food from such requirement by requiring the information to be prominently displayed in close proximity to the place of display or sale of such food. Exempts from such labeling requirements any manufacturer of such foods whose total annual sale are less than a specified amount.
United States · United States Congress · 25 June 1981
Title I: Margin Requirements - Margin Requirements Fairness Act of 1981 - Amends the Securities Exchange Act of 1934 to prohibit certain credit transactions for the acquisition of securities of U.S. corporations by either U.S. or non-U.S. persons where such a transaction is financed by either U.S. or non-U.S. lenders if: (1) such a transaction is or would be prohibited if it had been made or had otherwise occurred in a lender's office or other place of business in the United States; and (2) a statement is required to be filed under such Act in connection with the acquisition or carrying of such securities. Requires the statement filed with the Securities and Exchange Commission, pursuant to such Act, by any person who is directly or indirectly the beneficial owner of more than five percent of any equity security of a class which is registered pursuant to such Act, to include information as to whether the margin requirements imposed pursuant to such Act and the regulations promulgated thereunder are applicable and not being violated. Applies the provisions of this Act to any purchase or carrying of securities on or after June 24, 1981, if: (1) the loan or extension of credit involved originated, or if the loan proceeds used to purchase or carry such securities were disbursed, on or after such date; or (2) the person who has obtained, received or used the loan or extension of credit to purchase or carry securities acquires directly or indirectly by any means any additional securities of the same issuer on or after such date. Title II: Foreign Energy Investment - Foreign Energy Investment Act of 1981 - Makes it unlawful, during the period beginning on July 1, 1981, and ending on March 31, 1982, for any Canadian person to acquire, directly or indirectly, by purchase or trade any voting securities of a United States energy resources corporation if, after such acquisition, more than five percent of any class of voting securities of such corporation will be directly or indirectly owned by: (1) such Canadian person; (2) any partnership, limited partnership, syndicate, or other group of which such Canadian person is a member; (3) the other members of any such partnership, limited partnership, syndicate, or other group; or (4) any combination of the foregoing. States that such prohibition shall not apply to any acquisition which was the subject of an agreement to merge between a United States energy resources corporation and a Canadian person prior to June 25, 1981. Directs the Secretary of Energy, in consultation with specified Federal officials and agencies, to undertake a comprehensive study of direct and indirect investment in United States energy resources enterprises by foreign persons and to report the findings and recommendations to Congress not later than March 1, 1982.
United States · United States Congress · 25 June 1981
Rail Passenger Systems Act of 1981 - Amends the Rail Passenger Service Act to direct the National Railroad Passenger Corporation (Amtrak) to acquire the rights-of-way necessary for the operation of high-speed rail passenger service in accordance with this Act. Directs Amtrak to establish high-speed rail passenger service on 20 specified rail corridors. Encourages the provision of such rail passenger service by Amtrak employees, with Amtrak facilities and equipment. Directs Amtrak to implement a grade-crossing separation program in cooperation with private rail carriers. Directs Amtrak to use centrally generated electrical power produced by local electric utilities whenever possible. Directs the President to appoint a Presidential Rail Corridor Development Expediter to assist Amtrak in providing rail service under this Act. Authorizes Amtrak to guarantee loans for the purposes of this Act. Deletes appropriations for payments of loan principal for fiscal year 1982. Increases the sum available for loan guarantees under this Act.
United States · United States Congress · 25 June 1981
Amends the Internal Revenue Code to treat as long-term capital gain amounts actually paid to a taxpayer with respect to a small business participating debenture (SBPD) which constitute the distribution of a share of the earnings of the issuer. Defines "small business participating debenture" (SBPD) as a written debt instrument issued by a qualified small business which: (1) is a general obligation of such business; (2) bears interest at not less than specified by the Secretary of the Treasury; (3) has a fixed maturity; (4) grants no voting or conversion rights in the business to the purchaser; and (5) provides for the payment of a share of the issuer's total earnings. Defines "qualified small business" as one: (1) whose equity capital does not exceed $10,000,000; (2) the face value of all of whose outstanding SBPD's does not exceed $1,000,000; and (3) which has no outstanding securities subject to regulation by the Securities and Exchange Commission. Treats members of a controlled group of corporations as a single taxpayer. Denies capital gains treatment where the taxpayer is a "related party" to the SBPD issuer. Treats losses on small business participating debentures as ordinary losses. Allows an interest expense deduction for interest and share-of-earnings payments made on such debentures.
United States · United States Congress · 24 June 1981
Expresses the sense of the House of Representatives that the Department of Justice should continue to provide the sums required to insure the operation and success of the seven regional criminal intelligence projects assisted through the Law Enforcement Assistance Administration.
United States · United States Congress · 23 June 1981
Veterans' Compensation Amendments of 1981 - Title I: Veterans' Disability Compensation Benefits - Increases the rates of veterans' compensation for: (1) wartime disability compensation; (2) additional compensation for dependents; and (3) clothing allowances paid to certain disabled veterans. Title II: Survivors' Dependency and Indemnity Compensation Benefits - Increases the rates of veterans' dependency and indemnity compensation for: (1) a surviving spouse; (2) surviving children; and (3) supplemental children's benefits. Provides for the adjustment of such benefits when the entitlement of a child is established retroactively or a child reaches age 18. Title III: Life Insurance Program Amendments - Increases the maximum amount of insurance coverage under the Servicemen's Group Life Insurance Program. Permits a member of the Retired Reserve of a uniformed service to obtain increased coverage as specified. Increases the maximum amount of insurance coverage under the Veterans' Group Life Insurance Program. Directs the Secretary of Defense to prescribe regulations for the administration of the Servicemen's Group Life Insurance Program by the Secretaries of the military departments. Permits the first beneficiary under a National Service Life Insurance policy to elect to receive payment in a lump sum. Directs the Administrator of Veterans' Affairs to notify each individual insured under such policy or a United States Government Life Insurance policy of such changes and to provide forms for the election of a mode of payment. Title IV: Miscellaneous Provisions - States that a funded personnel ceiling shall be provided to the Veterans' Administration. Requires the Director of the Office of Management and Budget to certify to the appropriate committees of Congress and to the Comptroller General that such ceiling has been provided. Directs the Comptroller General to report to the appropriate committees of Congress as to whether the Director has complied with such requirement. Requires the Administrator of Veterans' Affairs, before reorganizing or redistributing the functions of the bureaus, agencies, offices, or activities within the Veterans' Administration, to submit to Congress for 60 days a plan describing proposed changes. Makes such plan effective if neither House of Congress adopts a resolution of disapproval. Requires a veteran to have completed at least 24 months of an obligated period of service before such veteran is eligible for benefits administered by the Veterans' Administration, including disability benefits, hospital and medical care, and burial benefits. Preserves the right of certain blind veterans being furnished hospital or nursing home care in a Veterans' Administration blind rehabilitation center or clinic to continue to receive full pensions.
United States · United States Congress · 23 June 1981
Amends the Surface Mining and Reclamation Act of 1977 to permit a registered professional land surveyor (in addition to an engineer or geologist) to prepare and certify maps or plans for use in an application for a surface coal mining and reclamation permit.
United States · United States Congress · 23 June 1981
Tobacco Deregulation Act of 1981 - Title I: Repeal of Programs Concerning Price Support For and the Marketing of Tobacco - Amends the Agricultural Act of 1949 and the Agricultural Adjustment Act of 1938 to repeal specified programs concerning tobacco, including: (1) price supports; (2) parity payments; (3) review and adjustment of quotas; and (4) marketing quotas. Amends the Agricultural Trade Development and Assistance Act of 1954 and the Commodity Credit Corporation Charter Act to prohibit agricultural commodity assistance for tobacco. Amends the Agricultural Adjustment Act to prohibit the Secretary of Agriculture from issuing any orders that regulate the handling of tobacco. Makes such provisions applicable to the 1982 and subsequent crops of tobacco. Title II: Withdrawal of Consent Relating to Compacts Among States for Regulating Tobacco Production and Commerce - Repeals provisions relating to compacts among States providing for the control or production of, or commerce in, tobacco within such States. Withdraws congressional consent of such compacts. Title III: Tobacco Inspection and Related Services - Amends the Tobacco Inspection Act to direct the Secretary of Agriculture to collect fees from specified persons for the inspection, certification, and other services concerning tobacco at designated auction markets. Requires that such fees cover the cost of such services. Makes such provisions effective July 1, 1981. Title IV: Warehouse Examination, Inspection, and Licensing - Amends the United States Warehouse Act to direct the Secretary to collect a fee for examinations and inspections of agricultural product warehouses that covers the costs of providing such services. Authorizes appropriations. Makes the above provisions effective October 1, 1982. Title V: Increased Tax on Cigars and Cigarettes - Amends the Internal Revenue Code to increase the excise tax on cigars and cigarettes.
United States · United States Congress · 22 June 1981
Amends the Internal Revenue Code to remove the limitation on amounts of the investment tax credit which are attributable to application of the regular percentage to qualified investment in railroad property owned by a domestic common carrier. Provides for the refundability of such credit. Requires the maintenance of a separate account for amounts received as credit refunds. Limits withdrawals from such accounts to amounts used for maintenance, improvement, or acquisition of property or payment of the railroad retirement tax. Requires the Secretary of the Treasury to reserve amounts received pursuant to imposition of the windfall profit tax equal to the increase in revenues attributable to this Act. Authorizes appropriations to carry out the purposes of this Act.
United States · United States Congress · 22 June 1981
Amends the Internal Revenue Code to permit the amortization of leased track materials based on a 60-month period. Defines "leased track materials" as any depreciable railroad track material leased to a domestic common carrier by railroad. Specifies the amount of such deduction. Provides that such deduction shall be in lieu of a depreciation deduction. Qualifies leased track materials for the investment tax credit. Allows the credit to noncorporate lessors of such materials. Exempts the leasing of railroad track materials from the limitation on the deduction for losses of amounts considered at risk. Treats such materials as trade or business property for purposes of Internal Revenue Code provisions which extend special capital gains or ordinary loss treatment to the sale or exchange of trade or business property. Exempts depreciation deductions taken with respect to such property from recapture. Makes inapplicable to leased track materials the limitation on the deduction of interest on investment indebtedness. Removes gain from the sale or exchange of leased track materials as an item of tax preference for purposes of the minimum tax.
United States · United States Congress · 22 June 1981
Amends the Internal Revenue Code to provide that the interest on government bonds issued to finance the acquisition, construction, or rehabilitation of railroad facilities shall be exempt from Federal income tax.
United States · United States Congress · 18 June 1981
Postal Service Amendments of 1981 - Authorizes the United States Postal Service to issue written demands requiring access to books, records, documents, or other objects believed to relate to any postal offense or civil matter under investigation by the Postal Service. Provides for the enforcement of such a demand by the appropriate district court. Authorizes the Postal Service to issue an order requiring any person to cease and desist from conducting a lottery or scheme for obtaining money or property by false representations through the mail. Declares that the resumption of such an activity through the use of any instrumentality of interstate commerce shall be considered to be a failure to comply with such order. Permits the Postal Service, in investigating whether a person is conducting such an activity, to tender the price of any article or service that such person has offered for sale. Declares that failure by such person to provide such article or service, or failure to comply with a written demand of the Postal Service for access to materials, shall constitute probable cause to believe such person is engaged in such activities, warranting the detention of such person's incoming mail. Establishes a civil penalty to be assessed by the Postal Service, after an opportunity for an agency hearing, against any person who: (1) attempts to evade an order directing the postmaster to return mail addressed to such person; (2) fails to comply with a cease and desist; or (3) assists another person in evading such an order.
United States · United States Congress · 18 June 1981
Amends the Mineral Land Leasing Act of 1920 and the Mineral Leasing Act for Acquired Lands to expand the application of such Acts to include gilsonite and all vein-type solid hydrocarbons. Provides that acreage in special tar sand areas shall not be chargeable against State acreage limitations applicable to oil and gas lease holders. Defines a special tar sand area as an area designated by the Secretary of the Interior as containing substantial deposits of tar sand. Provides that oil and gas lands within a special tar sand area shall be leased by competitive bidding in units of not more than 5,120 acres. Provides that competitive leases in special tar sand areas shall be for a primary term of ten years. Directs the Secretary to review, prior to the commencement of commercial operations, the royalty rates established in each combined hydrocarbon lease issued in special tar sand areas. Permits the owner of: (1) an oil and gas lease issued prior to the enactment of the Combined Hydrocarbon Leasing Act of 1981; or (2) a valid claim to any hydrocarbon resources leasable under the Act based on a mineral location made prior to January 21, 1926, and located within a special tar sand area to convert such lease or claim to a combined hydrocarbon lease for a primary term of ten years. Provides that nothing in this Act shall: (1) affect the existing tax status applicable to production from tar sand; or (2) apply to national parks, national monuments, or other lands where mineral leasing is prohibited. Directs the Secretary of the Interior to apply this Act to any unit of the national park system where mineral leasing is permitted, upon a finding that there will be no resulting significant adverse impacts on such unit or on other contiguous units.
United States · United States Congress · 18 June 1981
Amends the Internal Revenue Code to exclude from gross income interest accrued on savings certificates held for at least three years which bear a rate of interest equal to the rate of inflation. Limits the income tax exclusion to $1,500 for unmarried individuals, $2,000 for married individuals filing joint returns and $1,000 in the case of married individuals filing separate returns. Doubles the allowed exclusion for individual taxpayers 65 years and over. Provides for an inflation adjustment in the amount of the exclusion beginning after 1982.
United States · United States Congress · 18 June 1981
Olympic Coin Act of 1981 - Declares the purposes of this Act to be: (1) to provide for the minting of coins to commemorate the 1984 Los Angeles Olympic Games; and (2) to help finance those games without the use of tax revenues. Directs the Secretary of the Treasury to mint: (1) not more than 30,000,000 copper-nickel clad coins with a face value of one dollar; (2) not more than 22,400,000 silver coins with a face value of ten dollars; (3) not more than 2,400,000 gold coins with a face value of fifty dollars; and (4) not more than 1,400,000 gold coins with a face value of one hundred dollars. Specifies the size and weight of such coins. Specifies that the designs of such coins shall be determined by the Secretary in consultation with the Los Angeles Olympic Organizing Committee. Sets certain minting specifications for such coins. Authorizes the Secretary to enter into an agreement with the Los Angeles Olympic Organizing Committee which shall provide for the implementation of the purposes of this Act. Directs the Secretary to furnish such coins to the Los Angeles Olympic Organizing Committee at a price agreed to pursuant to such implementation agreement. Provides that all coins minted shall be delivered to the Los Angeles Olympic Organizing Committee for distribution and sale to the public in accordance with the terms of the implementation agreement. Sets the delivery date for each series of coins. Provides that all proceeds received by the Los Angeles Olympic Organizing Committee from the commercial sale of such coins shall be used for the purpose of staging and promoting the 1984 Los Angeles Olympic Games and assisting the U.S. Olympic Committee and amateur athletics. Provides that all coins authorized by this Act shall be legal tender. Directs that no coins shall be minted pursuant to this Act after December 31, 1984.
United States · United States Congress · 15 June 1981
Amends title XVIII (Medicare ) of the Social Security Act to provide Medicare coverage of "personal emergency response services" provided by a "personal emergency monitoring agency." Defines "personal emergency response services" as the maintenance of digital electronic communication equipment in the home which signals a "personal emergency monitoring agency" for help.
United States · United States Congress · 11 June 1981
Former Presidents Facilities and Services Reform Act of 1981 - Title I: Presidential Libraries - Prohibits the Administrator of General Services from establishing any Presidential archival depository after January 20, 1983. Directs the Administrator to submit to Congress a prospectus for establishing a central Presidential library for the deposit and preservation of the records and papers of former Presidents, and historical materials related to the former Presidents. Requires the prospectus to provide: (1) for the establishment of the library in a phased manner allowing for expansion; (2) that the first phase of the library shall provide for the deposit and preservation of the records, papers, and materials concerning two former Presidents; (3) that the archival and research space for each former President in the library shall equal the average space provided per President in all Presidential archival depositories; and (4) that a specified area be established for museum displays concerning each former President. Authorizes the Administrator to lend any item stored in the library for display in a private Presidential museum or library. Directs the Administrator to duplicate and make available upon request the more historically significant documents. Requires the President, while holding office, to dispose of his or her Presidential records which have no administrative, historical, informational, or evidentiary value after obtaining the views of the Archivist of the United States concerning such disposal, unless the Archivist notifies the President that the Archivist intends to request advice from certain congressional committees. Declares that the provisions of this title apply only to: (1) the records of those Presidents taking office after January 20, 1969, for whom a Presidential archival depository is not established before January 20, 1983; and (2) all Presidential records to which the Government has title. Title II: Former Presidents - Changes the amount of the annual allowance to which the spouse of a deceased former President is entitled from $20,000 to two-thirds of the allowance to which a former President is entitled. Repeals the requirement that the spouse must waive the right to any other Government annuity or pension to qualify for such allowance. Authorizes the Administrator to provide to each former President, upon request: (1) one office; (2) compensation, without an aggregate ceiling, for members of an office staff who shall be subject to certain provisions of civil service laws; (3) payment for the travel and subsistence allowances for specified office employees; (4) communications services; and (5) printing and binding expenses. Allows any Federal employee to be detailed to the office staff of a former President with the consent of the employee's agency head. Authorizes the Administrator to provide a former Vice President with necessary services and facilities for winding up his or her office affairs which are similar to the services and facilities provided to a former President under this title. Prohibits the use of funds provided for necessary services and facilities of a former President or Vice President for partisan political activities or income generating activities. Permits a former President to use such funds to prepare his or her memoirs if the former President signs an agreement providing that the Public Printer will print and distribute such memoirs. Prohibits the expenditure of such funds for a former President any time beyond 90 days after the former President dies. Requires each former President to submit to Congress an annual report concerning activities carried out with the assistance of such funds. Authorizes appropriations to carry out the provisions of this title concerning the services and facilities to be provided for former Presidents and Vice Presidents. Repeals specified provisions of the Presidential Transition Act of 1963. Title III: Protection of Former Presidents, Former Vice Presidents, and Their Families - Prohibits the United States Secret Service from protecting a former President, former Vice President, or the spouse, widow, widower, or minor child of a former President except as authorized under this title. Authorizes the Secret Service to protect: (1) a former President for eight years after the individual becomes a former President; and (2) the spouse of a former President to the extent that such protection is incidental to the protection of the former President. Permits the Secretary of the Treasury to reinstate for six months the Secret Service protection of a former President or the spouse, widow, widower, or minor child of a former President after the original protection has been terminated upon finding that a serious threat warranting such protection exists. Allows the Secretary to extend for six-month periods the Secret Service protection provided to such an individual upon the individual's written request and upon the approval of an existing advisory committee established to determine whether protection should be furnished to certain Presidential or Vice Presidential candidates. Establishes the Advisory Panel on Secret Service Protection to review requests for extended protection and to make recommendations on such requests to such advisory committee. Permits the Secretary, upon a former Vice President's written request and upon finding that a threat exists which warrants protection, to authorize Secret Service protection for a former Vice President for a period beginning on the last day of the individual's Vice Presidential term and ending on the last day of the fiscal year in which the term expires. Declares that this title shall take effect on October 1, 1981.
United States · United States Congress · 11 June 1981
Amends the Internal Revenue Code to increase the limitation to $5,000 ($7,000 for married individuals) on the income tax deduction for individual retirement savings. Allows individuals covered by employer plans to qualify for the deduction for retirement savings.
United States · United States Congress · 11 June 1981
Amends the Comprehensive Drug Abuse Prevention and Control Act of 1970 to require a judicial officer, in setting conditions for pretrial release for any person charged with certain narcotics offenses, to consider which conditions will reasonably assure the safety of the community, the personal safety of persons in the community, and the prevention of similar offenses by such person. Requires a judicial officer to deny release to any person charged with a narcotics offense who: (1) has previously been convicted of a felony narcotics offense under Federal, State, or foreign law; (2) is on parole, probation, or other conditional release for a felony offense under Federal or State law; (3) is an illegal alien; (4) was arrested in possession of a false passport; or (5) has been convicted of being a fugitive from justice. Requires the Government to provide clear and convincing evidence that the person charged falls within any such category and to establish that there is substantial probability that the person committed the offense . Permits the judicial officer to grant release to a person who has not been previously convicted of a felony narcotics offense upon a finding of special mitigating factors. Requires that the case of a person who is denied release be placed on an expedited calendar.
United States · United States Congress · 11 June 1981
Family Homeownership Savings Incentive Act - Amends the Internal Revenue Code to permit individuals to establish tax-exempt savings accounts to finance the purchase of a first principal residence. Limits contributions to such account to $25,000 per taxable year reduced by the aggregate of contributions made to such account in preceding taxable years (other than rollover contributions). Allows a tax-free rollover for any amount paid or distributed out of such an individual housing account if the entire amount is paid into another individual housing account within 60 days. Excludes distributions from such accounts from gross income so long as they are used exclusively for the purpose of purchasing a principal residence. Imposes a tax penalty on amounts distributed from an individual housing account for purposes other than the purchase of a principal residence. Defines "principal residence" to include a building which contains more than one but fewer than five dwelling units if at least one of such dwelling units is occupied by the owner as a principal residence.
United States · United States Congress · 11 June 1981
Amends the Internal Revenue Code to qualify for the investment tax credit any specially defined energy property installed in connection with any building which is depreciable residential real property. Revises the definition of "specially defined energy property," for purposes of such credit, to: (1) include specified additional equipment and devices; and (2) include among uses qualifying such property for the credit any building or facility at least 50 percent of which was constructed before or any process or activity carried on as of January 1, 1981. Increase the energy percentage, for purposes of the credit, in the case of specially defined energy property and provides a further increase in the case of property installed in connection with residential buildings which is qualified for the credit under this Act.
United States · United States Congress · 10 June 1981
Amends the Internal Revenue Code to allow an income tax credit for charitable contributions of any agricultural product to tax-exempt organizations. Limits the credit to ten percent of the wholesale market price or the most recent sales price. Requires that the donated agricultural product be unsalable at a price which would enable the taxpayer to recover his costs and that it be fit for human consumption.
United States · United States Congress · 8 June 1981
Amends the Internal Revenue Code to allow an income tax deduction for home health care and nursing home expenses paid by families on behalf of their relatives.
United States · United States Congress · 4 June 1981
Urban Jobs and Enterprise Zone Act of 1981 - Title I: Designation of Enterprise Zones - Amends the Internal Revenue Code to provide for the designation of enterprise zones, for a period ending December 31, 2001, and subject to the approval of the Secretary of Housing and Urban Development, by local governments or by State governments on behalf of local governments for purposes of extending the tax incentives and regulatory flexibility measures provided by titles II and III of this Act. Specifies that the Secretary may approve the designation of such zones only if: (1) the area is within the jurisdiction of the designating local government; (2) the boundary of the area is continuous and includes accessible vacant or underutilized properties; (3) the area has a population of at least 4,000 if any portion thereof is located within a standard metropolitan statistical area with a population of at least 50,000 or 2,500 otherwise or is an Indian reservation; and (4) the area meets specified unemployment and poverty requirements. Requires designating local governments, as a condition of the Secretary's approval, to agree in writing to follow a course of action which may include reducing tax rates, improving local services, simplifying or streamlining regulation of business, or receiving commitments of private entities to assist employees and residents of the area. Terminates the authority of the Secretary to designate enterprise zones on December 31, 1996. Sets forth minimum and maximum numbers of such designations. Describes areas to which preference shall be given in deciding to designate enterprise zones. Amends the Department of Housing and Urban Development Act to set forth the duties of the Secretary under this Act. Requires any property tax reduction effected by a local government under an agreed to program to be disregarded for purposes of determining the eligibility of a State or local government for Federal assistance or benefits. Expresses the sense of the Congress that: (1) local governments should attempt to facilitate to the greatest extent possible the employment of poor and unemployed residents of their enterprise zones and should consider the effects of a designation upon area employment practices and patterns; and (2) whenever possible, foreign-trade zones should be established within enterprise zones and that in the case of any application for designation of a foreign-trade zone within an enterprise zone: (A) the Foreign-Trade Zone Board should expedite the application process; (B) the Board, in evaluating such application, should consider future development to be expected as a result of the incentives provided by this Act; and (C) the Board should provide technical assistance to the applicants. Title II: Taxation - Subtitle A: Refundable Credits for Employers and Employees - Amends the Internal Revenue Code to allow employers a refundable income tax credit for five percent of the wages paid to unemployed or economically disadvantaged individuals who are certified as eligible under the Comprehensive Employment and Training Act and who perform at least 50 percent of their services within an enterprise zone. Disallows a deduction for the portion of the wages or salaries equal to the amount of such credit. Allows individuals who are employees of qualified businesses and at least 50 percent of whose services during the taxable year are performed in an enterprise zone a refundable tax credit for five percent of the earned income attributable to services performed in an enterprise zone during a 36-month period. Limits such credit to $1,500 for any taxable year. Defines "qualified business" as a person: (1) at least 50 percent of whose gross receipts are attributable to the active conduct of a trade or business within an enterprise zone; and (2) at least 40 percent of whose employees are individuals whose employment qualifies for the employers' credit allowed under this subtitle and who are hired after the later of the date on which the conduct of a business in an enterprise zone is begun or the area is designated as such a zone. Subtitle B: Reduction in Capital Gain Tax Rates - Reduces the alternative tax on capital gains and increases the capital gains deduction. Qualifies certain low-income rental housing located in an enterprise zone for such treatment. Permits property to remain qualified for purposes of the revised capital gains treatment after a designation of an enterprise zone has terminated. Exempts gain from the sale or exchange of property used in a business in an enterprise zone from the computation of the minimum tax. Removes as an item of tax preference accelerated depreciation on real property used in such a business. Subtitle C: Reduction in Gross Income of Trades or Businesses Operating in Zone - Excludes from taxable income a specified percentage of the sum of any amount received by a qualified business from the active conduct of a trade or business within an enterprise zone and any interest on financing provided by a taxpayer to a qualified business in connection with the conduct of such business. Subtitle D: Other Incentives - Permits any qualified business to elect to use the cash receipts and disbursements method of accounting without regard to any inventory requirements if its gross receipts do not exceed $2,000,000 in any prior taxable year. Allows a 20-year carryover of net operating losses for qualified businesses. Qualifies for the investment tax credit low-income rental housing with respect to which the capital gains tax reduction is granted under subtitle B of this title. Subtitle E: Sense of the Congress with Respect to Tax Simplification - Expresses the sense of the Congress that the Internal Revenue Service should simplify the administration and enforcement of any provision of the Internal Revenue Code affected by this title. Title III: Regulatory Flexibility - Revises the definition of "small entity," for purposes of the analysis of regulatory functions, to include qualified businesses (as defined in title II of this Act), designating governments, and nonprofit enterprises operating within enterprise zones.
United States · United States Congress · 4 June 1981
Amends the Internal Revenue Code to extend the targeted jobs income tax credit through 1984. Restricts the applicability of retroactive certifications of individuals as members of targeted groups for purposes of such credit.
![Official portrait of Rep. Murphy, Austin J. [D-PA-20]](https://www.congress.gov/img/member/m001088_200.jpg)