United States · United States Congress · 7 October 1974
Establishes a 2-year program under which Secretary of Agriculture shall obtain feed for dairy cattle and sell such feed to dairymen at a reduced rate if the price of milk paid to producers falls below 90 percent of the parity price.
United States · United States Congress · 2 October 1974
Provides that a director, trustee, officer, or employee of a financial institution may not at the same time serve as an officer or director of any regulated corporation with respect to which such financial institution owns or holds as trustee, executor, administrator, guardian, or agent, with power to vote either alone or in conjunction with another person, more than 1 percent of any class of stock of such corporation. Provides that a person who is a director, trustee, officer, or employee of any financial institution may not at the same time serve on the board of directors of any regulated corporation with which such financial institution has a substantial and continuing relationship with respect to the making of loans, discounts, or extensions of credit. Allows an individual to hold any number of positions as director, trustee, officer, or employee of any number of companies within any given group of companies if one of the companies is either a bank holding company as defined in the Bank Holding Company Act of 1956 or a savings and loan holding company as defined in the National Housing Act and all the rest of them are subsidiaries of that holding company.
United States · United States Congress · 30 September 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 30 September 1974
Removes the limitation upon the amount of outside income which an individual may earn while receiving benefits under title II of the Social Security Act (Old-Age, Survivors, and Disability Insurance).
United States · United States Congress · 22 August 1974
Prohibits the Administrator of the Environmental Protection Agency from requiring, under the Clean Air Act, an indirect source emission review as a part of any applicable implementation plan. States that any rules or regulations with respect to the requirement of such review as a part of any such plan previously promulgated by the Administrator shall be void on the date of the enactment of this Act.
United States · United States Congress · 20 August 1974
Provides that a director, trustee, officer, or employee of a financial institution may not at the same time serve as an officer or director of any regulated corporation with respect to which such financial institution owns or holds as trustee, executor, administrator, guardian, or agent, with power to vote either alone or in conjunction with another person, more than 1 percent of any class of stock of such corporation. Provides that a person who is a director, trustee, officer, or employee of any financial institution may not at the same time serve on the board of directors of any regulated corporation with which such financial institution has a substantial and continuing relationship with respect to the making of loans, discounts, or extensions of credit. Allows an individual to hold any number of positions as director, trustee, officer, or employee of any number of companies within any given group of companies if one of the companies is either a bank holding company as defined in the Bank Holding Company Act of 1956 or a savings and loan holding company as defined in the National Housing Act and all the rest of them are subsidiaries of that holding company.
United States · United States Congress · 19 August 1974
Equal Opportunity and Full Employment Act - Directs the President, with the assistance of the Council of Economic Advisors, to transmit annually a full employment and production program to the Congress. Sets forth a summary of the content to be contained in such annual report. Provides for annual Labor Reports of the President. Requires the Labor Reports to provide detailed attention on a continuing and progressively analytical basis to the changing volume and composition of the American labor supply. Renames the United States Employment Service as the United States Full Employment Service. Creates a Job Guarantee Office in the United States Full Employment Office headed by a Job Guarantee Officer whose responsibility is to provide useful and rewarding employment for any American, able and willing to work but not yet working, unable otherwise to obtain work, and applying to such office for assistance. Directs the Job Guarantee Office to carry out responsibilities under this Act upon the recommendation and approval of the local planning councils. Requires that each Job Guarantee Office in carrying out its responsibilities shall insure that among projects planned that adequate consideration be given to such individuals and groups as may face special obstacles in finding and holding useful and rewarding employment and shall provide or have provided through the coordination of existing programs special assistance including but not limited to counseling, training, and, where necessary, transportation and migration assistance. Provides that such individuals and groups shall include (1) those suffering from past or present discrimination or bias on the basis of sex, age, race, color, religion, or national origin; (2) older workers and retirees; (3) the physically or mentally handicapped; (4) youths to age 21; (5) potentially employable recipients of public assistance; (6) the inhabitants of depressed areas, urban and rural; (7) veterans of the Armed Forces; (8) people unemployed because of the relocation, closing, or reduced operations in industrial or military facilities; and (9) such other groups as the President or the Congress may designate from time to time. Directs that each Job Guarantee Office may, subject to the limitations specified in this Act, enter into agreements with public agencies and private organizations operating on a profit, nonprofit, or limited-profit basis. Requires such agreements to contain assurances that the agency or organization will: (1) provide an annual independent audit to the Job Guarantee Office; and (2) not discriminate on the grounds of sex, age, race, color, religion, or national origin in the administration of any program encompassed within the agreement. Directs the Job Guarantee Office to: (1) refer jobseekers to the private sector and general public sector employment placement facilities of the Full Employment Service (other than as supplemented by this Act); and (2) directly refer jobseekers for placement in positions on projects drawn from the reservoir of public service and private employment projects. Provides that any who presents himself or herself in person at the full Employment Office shall be considered prima facie "willing and able" to work. Provides that this stipulation specifically shall include persons with impairments of sight, hearing, movement, coordination, mental retardation, or other handicaps. Directs that this stipulation be implemented by the Job Guarantee Officer, prusuant to regulations issued by the Secretary. Establishes a Standby Job Corps which shall consist of jobseekers registered pursuant to this Act. Provides that such Corps shall be available for public service work upon projects and activities that are approved as a part of community public service work reservoirs established by community boards pursuant to this Act. Directs the Secretary, by regulation, to provide for: (1) a requirement that jobseekers registered in the Standby Job Corps maintain a status of good standing, which status shall include attendance and performance standards; and (2) a system of compensation for Corps members. Provides that no Standby Job Corps members shall be paid less than the minimum wage in effect in the area. Directs the Joint Economic Committee to: (1) annually review the activities of the executive branch under all sections of this Act; (2) regularly conduct on its own behalf, or in cooperation with or through the facilities of the appropriate legislative committees or subcommittees of the Senate and the House, public hearings in as many labor market areas as feasible; and (3) annually report upon, with its own conclusions and recommendations, the development and administration of the policies and programs mandated by this Act. Establishes a National Institute for Full Employment within the Department of Labor, under a director to be appointed by the Secretary of Labor, and to operate in continuing consultation with a National Commission for Full Employment Policy Studies. Authorizes and directs the Institute to make, or have made through grants to or contracts with individual researchers and private or public research organizations, universities, and other Government agencies, studies that shall include, but need not be limited to, such subjects as: (1) the policies and programs needed to reduce whatever inflationary pressures may result from full employment to manage any such inflationary pressures through appropriate fiscal policies and indirect and direct controls, and to protect the weaker groups in society from whatever inflationary trends cannot be avoided or controlled; (2) the identification of human potentialities that are hidden, undeveloped, or underdeveloped because of the lack of suitable job opportunities, encouragement, education, or training and of various ways of releasing such potentialities; (3) the forms of education and training needed to help provide people with the skills, knowledge, and values required by existing employment opportunities and technologies and needed to assist in developing such new types of goods, services, technologies, and employment opportunities as may better meet human needs; and (4) the policies and programs needed to substantially eliminate substandard employment, wages, and working conditions and the techniques for establishing standards for employment, wages, and working conditions in accordance with changing levels of national output and resources, and regional variations in output. Authorizes the appropriation for the fiscal year ending on June 30, 1977, and for each succeeding fiscal year of such sums as may be needed to carry out this Act.
United States · United States Congress · 14 August 1974
Anti-Inflation Act - Authorizes the President to establish, within the Executive Office of the President, a Cost of Living Task Force to: (1) review and analyze industrial capacity, demand, and supply in various sectors of the economy, working with the industrial groups concerned and appropriate governmental agencies to encourage price restraint; (2) work with labor and management in the various sectors of the economy having special economic problems, as well as with appropriate government agencies, to improve the structure of collective bargaining and the performance of those sectors in restraining prices; (3) improve wage and price data bases for the various sectors of the economy to improve collective bargaining and encourage price restraint; (4) conduct public hearings necessary to provide for public scrutiny of inflationary problems in various sectors of the economy; (5) focus attention on the need to increase productivity in both the public and private sectors of the economy; (6) monitor the economy as a whole by acquiring, as appropriate, reports on wages, costs, productivity, prices, sales, profits, imports, exports, and interest rates, and rents; (7) review the programs and activities of Federal departments and agencies and the private sector which may decrease supply and increase prices; and (8) evaluate the inflationary effects of international transactions. Authorizes to be appropriated $1,000,000 for fiscal year 1975 to carry out the purposes of this Act.
United States · United States Congress · 14 August 1974
Anti-Inflation Act - Authorizes the President to establish, within the Executive Office of the President, a Cost of Living Task Force to: (1) review and analyze industrial capacity, demand, and supply in various sectors of the economy, working with the industrial groups concerned and appropriate governmental agencies to encourage price restraint; (2) work with labor and management in the various sectors of the economy having special economic problems, as well as with appropriate government agencies, to improve the structure of collective bargaining and the performance of those sectors in restraining prices; (3) improve wage and price data bases for the various sectors of the economy to improve collective bargaining and encourage price restraint; (4) conduct public hearings necessary to provide for public scrutiny of inflationary problems in various sectors of the economy; (5) focus attention on the need to increase productivity in both the public and private sectors of the economy; (6) monitor the economy as a whole by acquiring, as appropriate, reports on wages, costs, productivity, prices, sales, profits, imports, exports, and interest rates, and rents; (7) review the programs and activities of Federal departments and agencies and the private sector which may decrease supply and increase prices; and (8) evaluate the inflationary effects of international transactions. Authorizes to be appropriated $1,000,000 for fiscal year 1975 to carry out the purposes of this Act.
United States · United States Congress · 13 August 1974
Cost of Living Task Force Act - Authorizes the President to establish, within the Executive Office of the President, a Cost of Living Task Force to: (1) review and analyze industrial capacity, demand, and supply in various sectors of the economy, working with the industrial groups concerned and appropriate governmental agencies to encourage price restraint; (2) work with labor and management in the various sectors of the economy having special economic problems, as well as with appropriate government agencies, to improve the structure of collective bargaining and the performance of those sectors in restraining prices; (3) improve wage and price data bases for the various sectors of the economy to improve collective bargaining and encourage price restraint; (4) conduct public hearings necessary to provide for public scrutiny of inflationary problems in various sectors of the economy; (5) focus attention on the need to increase productivity in both the public and private sectors of the economy; and (6) monitor the economy as a whole by acquiring, as appropriate, reports on wages, costs, productivity, prices, sales, profits, imports and exports. Authorizes to be appropriated $1,000,000 for fiscal year 1975 to carry out the purposes of this Act.
United States · United States Congress · 8 August 1974
Provides that the President should take immediate action to control inflation and allocate credit pursuant to the Credit Control Act by authorizing the Federal Reserve Board to channel extensions of credit toward essential and productive capital investment, low-and middle-income housing, State and local governments, and small business, and away from loans for speculation in real estate and commodities, to finance anticompetitive acquisitions, and for other inflationary purposes.
United States · United States Congress · 2 August 1974
Provides that the price of milk shall be supported at 90 percent of the parity price for the period beginning April 1, 1974, and ending March 31, 1976.
United States · United States Congress · 1 August 1974
Smaller Communities Act - Expresses the findings of Congress and declares the purposes of this Act, including to establish the Small Community Administration in order to: (1) develop a national program to coordinate and improve the Federal assistance available to smaller communities; and (2) encourage the development of smaller communities through the coordination of certain Federal loan grant assistance programs. Establishes, as an independent agency in the executive branch, the Smaller Communities Administration, to be headed by an Administrator. Directs the Administration to: (1) to provide technical assistance to smaller communities; (2) coordinate with the Small Business Administration, Farmers Home Administration, Department of Transportation, Departments of Housing and Urban Development, Interior, Health, Education, and Welfare, and Commerce, the Environmental Protection Agency, and other Federal agencies to formulate Federal policy with respect to smaller communities; (3) represent the interests of smaller communities in the allocation of resources and scarce materials; (4) represent the interests of smaller communities in the location and construction of buildings by the Federal Government; (5) represent the interests of smaller communities before each Federal organization that affects the welfare of small communities; (6) conduct studies in specified areas; and (7) assist business firms and nonprofit institutions located in smaller communities in the awarding of Federal contracts. Establishes the Office of the Smaller Community Ombudsman, directing that the Ombudsman shall: (1) develop an information system to supply officials of smaller communities with information on Federal grant and loan assistance programs designed to aid small communities; and (2) coordinate Federal agencies administering such programs. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.
United States · United States Congress · 29 July 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 22 July 1974
States that the Secretary of the Treasury may change the composition of the copper-zinc alloy used in minting the one-cent piece whenever he deems such action to be appropriate to asure an adequate supply of coins to meet the national needs. Specifies the considerations and conditions upon which the Secretary may change the composition of the alloy of the one-cent piece. States that there shall be no coinage pursuant to the Act after December 31, 1977. Provides for the transfer of 10 percent of all proceeds from the sale of one-dollar proof coins which bear the likeness of Dwight Eisenhower to Eisenhower College, Seneca Falls, New York, on the condition that Eisenhower College makes satisfactory assurances to the Secretary that 10 percent of the moneys received by it under this Act will be transferred to the Samuel Rayburn Library at Bonham, Texas.
United States · United States Congress · 16 July 1974
Provides for the regulation of the issuance and sale of debt obligations, which carry effective maturities of less than seven years or rights of redemption that may be exercised in less than seven years, by parents of member banks, nonmember insured banks (including insured mutual savings banks), and savings and loan associations, under the Federal Reserve Act, the Federal Deposit Insurance Act, and the Federal Home Loan Bank Act.
United States · United States Congress · 16 July 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 11 July 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 11 July 1974
Makes it unlawful, except with prior approval given as provided in this Act, for any action to be taken after July 10, 1974, that causes a bank holding company or any of its subsidiaries or affiliates to issue, distribute, or sell directly or indirectly to the general public any notes, debentures, bonds, or other debt obligations or securities which would mature, or which could be fully redeemed or repaid at par, in ten years or less; or otherwise arrange to borrow funds from the general public for periods of ten years or less. Provides that a determination that such issuance, distribution, and sale or such arrangements should be approved may be made only if the Board of Governors of the Federal Reserve System finds (by order or regulation) that such action by the applicant is necessary to maintain its effective operation and financial soundness; and the issuance, distribution, and sale of such obligations or securities, or the arrangements for such borrowings, can reasonably be expected to produce benefits to the public. Provides for final approval of Board decisions under this Act by a committee consisting of the Board, the Board of Directors of the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the Secretary of the Treasury.
United States · United States Congress · 2 July 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 1 July 1974
Provides that upon adoption of this resolution the House shall immediately resolve itself into the Committee of the Whole House on the State of the Union for the consideration of the bill (H.R. 14782) to establish a general service pension for World War I veterans and their dependents. Provides that after general debate, which shall be confined to the bill and shall continue not to exceed two hours, to be equally divided and controlled by the author of the bill and the chairman of the Committee on Veterans' Affairs or his designee, the bill shall be read for amendment under the five-minute rule. Stipulates that, at the conclusion of the consideration of the bill for amendment, the Committee shall rise and report the bill to the House with such amendments as may have been adopted, and the previous question shall be considered as ordered on the bill and amendments thereto to final passage without intervening motion except one motion to recommit.
United States · United States Congress · 18 June 1974
Authorizes to be appropriated without fiscal year limitation four annual installments of $375,000,000 each for payment by the Secretary of the Treasury to the International Development Association. Repeals the prohibitions on purchasing, holding, selling, or otherwise dealing in gold in the United States or abroad, effective either on December 31, 1974, or at any time prior to such date that the President finds and reports to Congress that private ownership of gold will not adversely affect the U.S. monetary position.
United States · United States Congress · 13 June 1974
Housing and Urban Development Act - Title I: Community Development Block Grants - Authorizes the Secretary of Housing and Urban Development to make grants to States and Units of general local government to help finance Community Development Programs. Authorizes the Secretary to incur obligations for such grants of up to $8,050,000,000 until July 1, 1977. Authorizes $100,000,000 for each of fiscal years 1975, 1976, and 1977 for grants to general local government units for urgent community development needs. Requires grant applicants to: (1) formulate community development programs and housing assistance plans; (2) operate such programs in accordance with the Civil Rights Act of 1964 and Public Law 90-284 (relating to fair housing); and (3) inform affected citizens of the various aspects of the program. Requires an annual review and audit to determine if grantees are carrying out their programs as required by this Act. Authorizes the Secretary to release funds for projects to applicants who assume all of the responsibilities of environmental review, decision making, and action pursuant to the Environmental Policy Act that would otherwise apply to the Secretary. States that community development programs approved under this title may include: (1) acquisition of real property that is deteriorating or useful for public purposes; (2) installation of public works facilities; (3) rehabilitation of buildings; and (4) provisions for health, social, counseling and training services under activities within this title. Prescribes the allocation of grant funds under this title, including a ratio to determine amounts for individual cities which relates to poverty and housing overcrowding in the city. Requires that 80 percent of the non-urgent grant funds go to metropolitan areas. Prescribes the full "hold-harmless" amount of a metropolitan city or urban county under this title. Preserves a discretionary grant fund for special projects, including new communities, United States territories, and diaster-caused development needs. Authorizes the guarantee of notes or other obligations of general local government units for acquisition of real property for community development programs. Prohibits discrimination based upon race, color, national origin, or sex under programs funded by this title. Sets wage standards for labor performed under contracts funded by this title. Requires the termination or reduction of funds to grantees failing to comply with this title. Allows judicial review of such actions. Allows 20 percent of the urgent-need grants to be applied toward the payment of principal and interest on temporary loans made to a local government unit under the Housing Act of 1949. Permits continuance of local building codes (where assistance is sought under this Act) whose standards are as high or higher than those required by this Act. Provides for the employment of low-income persons under programs approved by this title. Title II: Assisted Housing - Authorizes assistance, under the United States Housing Act of 1937, to low-income families. Allows public housing agencies to make assistance payments for the use of existing dwelling units. Allows assistance payments for contracts with owners or prospective owners who construct or rehabilitate housing which will be used at least in part for low-income families. Allows the Secretary to enter into contracts with public housing agencies by which they may assist owners or prospective owners of units over which such agencies assume management. Requires such assistance contracts to set a maximum monthly rent, according to prescribed guidelines. Disallows material differences in rents for assisted housing and comparable unassisted housing. Sets forth a time limit on such contracts for assistance payments. Reserves all ownership, management, and maintenance responsibilities in the owners. Requires 30 percent of families assisted under this title to be "very low-income" families. Requires the Secretary to insure that special projects for the handicapped authorized under the United States Housing Act of 1937 provide quality services and management consistent with the needs of the occupant. Prohibits the approval of a housing assistance plan under the United States Housing Act of 1937, the National Housing Act, or the Housing and Urban Development Act of 1965 unless the general local government unit certifies that such assistance is consistent with a housing assistance plan approved under title I of this Act. Requires the allocation of assistance under provisions of the above-mentioned laws according to rates of poverty, overcrowding, and substandard housing. Makes public housing agencies eligible as mortgagors under the National Housing Act's provisions relating to housing for moderate income and displaced families. Specifies minimum rentals for low-rent housing under the United States Housing Act of 1937. Requires the establishment of sound management practices by public housing agencies. Increases the annual contribution to public housing to maintain low rents to $400,000,000 for fiscal year 1973 and $965,000,000 for fiscal year 1974. Extends the home ownership, cooperative and rental mortgage provisions of the National Housing Act until June 30, 1975. Makes special provision for housing assistance to American Indians, the elderly and handicapped, and to areas where assistance is otherwise unavailable. Title III: Mortgage Credit Programs - Extends the regular FHA insurance programs and the interest rate authority for veterans' home loans. Increases the maximum mortgage amount under the FHA one-to four-family and multifamily mortgage insurance programs. Makes changes in downpayment requirements for regular FHA one-to four-family mortgages. Provides for FHA insured financing on resale of cooperative dwellings. Increases the amounts and time limits on home improvement loans. Permits the co-insurance of any mortgage, advance, or loan in addition to co-insurance otherwise provided by this Act. Prohibits the issuance of such insurance until it is determined that such co-insurance demonstration program will not disrupt the mortgage market or reduce the availability of mortgage credit to borrowers who depend upon mortgage insurance under this Act. Prohibits the purchase of mortgages by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation if the outstanding principal balance of the mortgage at the time of purchase exceeds 80 percent of the value of the property. Eliminates the provisions of Federal law concerning the retirement of common and preferred stock in FNMA. Prohbits sex discrimination in Federal mortgage assistance payments under this title. Adds osteopathic and podiatric facilities to the provisions of the National Housing Act regarding mortgage insurance for group practice facilities. Title IV: Rural Housing - Allows loans for the repair and improvement of rural dwellings to make them safe and sanitary (where the borrower does not otherwise qualify) of up to $5,000. Extends veterans preference to rural housing programs under the Housing Act of 1949. Authorizes funds for loan programs for rural housing programs. Authorizes direct and insured loans to provide housing and related facilities for elderly persons and families in rural areas. Authorizes direct and insured loans to provide condominium housing for low-and moderate-income families in ruarl areas. Permits the Secretary to make loans to public or private nonprofit organizations for the acquisition and development of land as building sites to be subdivided and sold to families, nonprofit organizations, public agencies, and cooperatives. Allows borrowers, under provisions of the Housing Act of 1949, to prepay taxes and insurance to the Secretary, who will hold such payments in escrow and pay them out at the appropriate time. Provides for contracts with public or private nonprofit organizations to provide information and technical assistance, provided such private nonprofit organizations are sponsored by a State or local government entity. States that such information and assistance shall relate to construction, rehabilitation, and operation of low-and moderate-income housing, as well as counseling on household management and budgeting. Authorizes loans and insurance for rental or cooperative housing for persons and families of low income in multifamily housing projects, as well as assistance payments to owners of such rental housing to make available to such persons such housing at rates not exceeding 25 percent of their incomes. Title V: Miscellaneous - States that it is the purpose of this part to encourage the formation of State development agencies which have authority to carry out development activities designed to: (1) provide housing and related facilities for persons and families of low and moderate income; (2) promote the sound growth and development of neighborhoods through the revitalization of slum and blighted areas; and (3) increase and improve employment opportunities for the unemployed and underemployed through the development and redevelopment of industrial, manufacturing, and commercial facilities. Permits the guarantee of bonds, debentures, notes and other obligations issued by State development agencies to finance development activities described in the purposes of this title. Establishes a revolving fund to provide for timely payment of liabilities incurred as a result of such guarantees. Allows supplementary grants for projects assisted by the National Foundation on the Arts and Humanities. Includes waste disposal facilities among eligible land improvements. Authorizes appropriations for comprehensive urban planning. Title VI: Consumer Home Mortgage Assistance - Consumer Home Mortgage Assistance Act - States that savings and loan associations are authorized to invest an amount, not exceeding the greater of the sum of its surplus, undivided profits, and reserves or 5 percent of its assets, in loans or in interests therein the principal purpose of which is to provide financing with respect to what is or is expected to become primarily residential real estate within one hundred miles of their home office or within the State in which such office is located. Increase the amount that may be loaned by such associations on single family dwellings from $45,000 to $55,000. Permits any national banking association to make real estate loans secured by liens upon unimproved real estate, upon improved real estate, including improved farmland and improved business and residential properties, and upon real estate to be improved by a building or buildings to be constructed or in the process of construction, in an amount which when added to the amount unpaid upon prior mortgages, liens, encumbrances, if any, upon such real estate does not exceed the respective proportions of appraised value as provided in this title. States that the amount of any such loan hereafter made shall not exceed 66 2/3 percent of the appraised value if such real estate is unimproved, 75 percent of the appraised value if such real estate is improved by offsite improvements such as as streets, water, sewers, or other utilities, 75 percent of the appraised value if such real estate is in the process of being improved by a building or building to be constructed or in the process of construction, or 90 percent of the appraised value if such real estate is improved by a building or buildings. Allows national banking associations to make real estate loans secured by liens upon forest tracts with are properly managed in all respects. Limits the amount that Federal Credit Unions may loan to it directors and members of it supervisory credit committee to $2,500 without approval of the board of directors. Allows such credit unions to establish two-member investment committees. Prescribes meeting frequencies and procedures for credit committees of such credit unions. Provides termination procedures for insured credit unions.
United States · United States Congress · 13 June 1974
Housing and Urban Development Act - Title I: Community Development Block Grants - Authorizes the Secretary of Housing and Urban Development to make grants to States and Units of general local government to help finance Community Development Programs. Authorizes the Secretary to incur obligations for such grants of up to $8,050,000,000 until July 1, 1977. Authorizes $100,000,000 for each of fiscal years 1975, 1976, and 1977 for grants to general local government units for urgent community development needs. Requires grant applicants to: (1) formulate community development programs and housing assistance plans; (2) operate such programs in accordance with the Civil Rights Act of 1964 and Public Law 90-284 (relating to fair housing); and (3) inform affected citizens of the various aspects of the program. Requires an annual review and audit to determine if grantees are carrying out their programs as required by this Act. Authorizes the Secretary to release funds for projects to applicants who assume all of the responsibilities of environmental review, decision making, and action pursuant to the Environmental Policy Act that would otherwise apply to the Secretary. States that community development programs approved under this title may include: (1) acquisition of real property that is deteriorating or useful for public purposes; (2) installation of public works facilities; (3) rehabilitation of buildings; and (4) provisions for health, social, counseling and training services under activities within this title. Prescribes the allocation of grant funds under this title, including a ratio to determine amounts for individual cities which relates to poverty and housing overcrowding in the city. Requires that 80 percent of the non-urgent grant funds go to metropolitan areas. Prescribes the full "hold-harmless" amount of a metropolitan city or urban county under this title. Preserves a discretionary grant fund for special projects, including new communities, United States territories, and diaster-caused development needs. Authorizes the guarantee of notes or other obligations of general local government units for acquisition of real property for community development programs. Prohibits discrimination based upon race, color, national origin, or sex under programs funded by this title. Sets wage standards for labor performed under contracts funded by this title. Requires the termination or reduction of funds to grantees failing to comply with this title. Allows judicial review of such actions. Allows 20 percent of the urgent-need grants to be applied toward the payment of principal and interest on temporary loans made to a local government unit under the Housing Act of 1949. Permits continuance of local building codes (where assistance is sought under this Act) whose standards are as high or higher than those required by this Act. Provides for the employment of low-income persons under programs approved by this title. Title II: Assisted Housing - Authorizes assistance, under the United States Housing Act of 1937, to low-income families. Allows public housing agencies to make assistance payments for the use of existing dwelling units. Allows assistance payments for contracts with owners or prospective owners who construct or rehabilitate housing which will be used at least in part for low-income families. Allows the Secretary to enter into contracts with public housing agencies by which they may assist owners or prospective owners of units over which such agencies assume management. Requires such assistance contracts to set a maximum monthly rent, according to prescribed guidelines. Disallows material differences in rents for assisted housing and comparable unassisted housing. Sets forth a time limit on such contracts for assistance payments. Reserves all ownership, management, and maintenance responsibilities in the owners. Requires 30 percent of families assisted under this title to be "very low-income" families. Requires the Secretary to insure that special projects for the handicapped authorized under the United States Housing Act of 1937 provide quality services and management consistent with the needs of the occupant. Prohibits the approval of a housing assistance plan under the United States Housing Act of 1937, the National Housing Act, or the Housing and Urban Development Act of 1965 unless the general local government unit certifies that such assistance is consistent with a housing assistance plan approved under title I of this Act. Requires the allocation of assistance under provisions of the above-mentioned laws according to rates of poverty, overcrowding, and substandard housing. Makes public housing agencies eligible as mortgagors under the National Housing Act's provisions relating to housing for moderate income and displaced families. Specifies minimum rentals for low-rent housing under the United States Housing Act of 1937. Requires the establishment of sound management practices by public housing agencies. Increases the annual contribution to public housing to maintain low rents to $400,000,000 for fiscal year 1973 and $965,000,000 for fiscal year 1974. Extends the home ownership, cooperative and rental mortgage provisions of the National Housing Act until June 30, 1975. Makes special provision for housing assistance to American Indians, the elderly and handicapped, and to areas where assistance is otherwise unavailable. Title III: Mortgage Credit Programs - Extends the regular FHA insurance programs and the interest rate authority for veterans' home loans. Increases the maximum mortgage amount under the FHA one-to four-family and multifamily mortgage insurance programs. Makes changes in downpayment requirements for regular FHA one-to four-family mortgages. Provides for FHA insured financing on resale of cooperative dwellings. Increases the amounts and time limits on home improvement loans. Permits the co-insurance of any mortgage, advance, or loan in addition to co-insurance otherwise provided by this Act. Prohibits the issuance of such insurance until it is determined that such co-insurance demonstration program will not disrupt the mortgage market or reduce the availability of mortgage credit to borrowers who depend upon mortgage insurance under this Act. Prohibits the purchase of mortgages by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation if the outstanding principal balance of the mortgage at the time of purchase exceeds 80 percent of the value of the property. Eliminates the provisions of Federal law concerning the retirement of common and preferred stock in FNMA. Prohbits sex discrimination in Federal mortgage assistance payments under this title. Adds osteopathic and podiatric facilities to the provisions of the National Housing Act regarding mortgage insurance for group practice facilities. Title IV: Rural Housing - Allows loans for the repair and improvement of rural dwellings to make them safe and sanitary (where the borrower does not otherwise qualify) of up to $5,000. Extends veterans preference to rural housing programs under the Housing Act of 1949. Authorizes funds for loan programs for rural housing programs. Authorizes direct and insured loans to provide housing and related facilities for elderly persons and families in rural areas. Authorizes direct and insured loans to provide condominium housing for low-and moderate-income families in ruarl areas. Permits the Secretary to make loans to public or private nonprofit organizations for the acquisition and development of land as building sites to be subdivided and sold to families, nonprofit organizations, public agencies, and cooperatives. Allows borrowers, under provisions of the Housing Act of 1949, to prepay taxes and insurance to the Secretary, who will hold such payments in escrow and pay them out at the appropriate time. Provides for contracts with public or private nonprofit organizations to provide information and technical assistance, provided such private nonprofit organizations are sponsored by a State or local government entity. States that such information and assistance shall relate to construction, rehabilitation, and operation of low-and moderate-income housing, as well as counseling on household management and budgeting. Authorizes loans and insurance for rental or cooperative housing for persons and families of low income in multifamily housing projects, as well as assistance payments to owners of such rental housing to make available to such persons such housing at rates not exceeding 25 percent of their incomes. Title V: Miscellaneous - States that it is the purpose of this part to encourage the formation of State development agencies which have authority to carry out development activities designed to: (1) provide housing and related facilities for persons and families of low and moderate income; (2) promote the sound growth and development of neighborhoods through the revitalization of slum and blighted areas; and (3) increase and improve employment opportunities for the unemployed and underemployed through the development and redevelopment of industrial, manufacturing, and commercial facilities. Permits the guarantee of bonds, debentures, notes and other obligations issued by State development agencies to finance development activities described in the purposes of this title. Establishes a revolving fund to provide for timely payment of liabilities incurred as a result of such guarantees. Allows supplementary grants for projects assisted by the National Foundation on the Arts and Humanities. Includes waste disposal facilities among eligible land improvements. Authorizes appropriations for comprehensive urban planning. Title VI: Consumer Home Mortgage Assistance - Consumer Home Mortgage Assistance Act - States that savings and loan associations are authorized to invest an amount, not exceeding the greater of the sum of its surplus, undivided profits, and reserves or 5 percent of its assets, in loans or in interests therein the principal purpose of which is to provide financing with respect to what is or is expected to become primarily residential real estate within one hundred miles of their home office or within the State in which such office is located. Increase the amount that may be loaned by such associations on single family dwellings from $45,000 to $55,000. Permits any national banking association to make real estate loans secured by liens upon unimproved real estate, upon improved real estate, including improved farmland and improved business and residential properties, and upon real estate to be improved by a building or buildings to be constructed or in the process of construction, in an amount which when added to the amount unpaid upon prior mortgages, liens, encumbrances, if any, upon such real estate does not exceed the respective proportions of appraised value as provided in this title. States that the amount of any such loan hereafter made shall not exceed 66 2/3 percent of the appraised value if such real estate is unimproved, 75 percent of the appraised value if such real estate is improved by offsite improvements such as as streets, water, sewers, or other utilities, 75 percent of the appraised value if such real estate is in the process of being improved by a building or building to be constructed or in the process of construction, or 90 percent of the appraised value if such real estate is improved by a building or buildings. Allows national banking associations to make real estate loans secured by liens upon forest tracts with are properly managed in all respects. Limits the amount that Federal Credit Unions may loan to it directors and members of it supervisory credit committee to $2,500 without approval of the board of directors. Allows such credit unions to establish two-member investment committees. Prescribes meeting frequencies and procedures for credit committees of such credit unions. Provides termination procedures for insured credit unions.
United States · United States Congress · 11 June 1974
Exempts, in recognition of the direct benefits to the United States from the construction of the Toledo Bend Dam and Reservoir project, the Sabine River Authority, State of Louisiana, and the Sabine River Authority of Texas, from further charges for the use, occupancy, and enjoyment of specified lands of the United States within the Sabine National Forest, Texas.
United States · United States Congress · 4 June 1974
Provides, under the Social Security Act, that any State with a statewide Professional Standards Review Organization shall be established, upon the request of the Governor of such State, as one area for which a Professional Standards Rivew Organization may be designated.
United States · United States Congress · 28 May 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 16 May 1974
Exempts specified types of land, buildings, and real estate securities from the requirements of the Interstate Land Sales Full Disclosure Act. States that, in the event the Secretary of Housing and Urban Development shall not have rendered a decision within thirty days of the filing of an application for exemption by a developer, such application shall be considered approved according to its terms. Exempts certified financial statements from the class of information required in the statement of records pursuant to the Land Sales Full Disclosure Act. Requires that notice and opportunity for a hearing be provided to the parties in interest where the Secretary has determined to suspend the statement of record. Exempts property reports from specified information requirements.
United States · United States Congress · 14 May 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 14 May 1974
Entitles specified veterans of the Mexican border period and of World War I and their widows and children to a veterans' pension benefit on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 9 May 1974
Increases to $7,500 the amount of outside earnings which (subject to further increases under the automatic adjustment provisions) is permitted each year without any deductions from benefits under title II (Old-Age, Survivors' and Disability Insurance) of the Social Security Act.
United States · United States Congress · 6 May 1974
Combined Old-Age, Survivors, and Disability Insurance - Income Tax Reporting Amendments - Title I: Amendments to Title II of the Social Security Act - Directs the Secretary of the Treasury to make available specified tax returns to the Secretary of Health, Education, and Welfare. Empowers the Secretary of HEW and the Secretary of the Treasury to enter into an agreement for the processing of information contained in such returns. Requires the Secretary of the Treasury to provide to the Secretary of HEW any documents they agree are necessary for such processing. Directs the Managing Trustee of the Trust Funds, including the Federal Hospital Insurance Trust Fund and the Federal Supplementary Medical Insurance Trust Fund, to pay into the Treasury the amounts he and the Secretary of HEW estimate will be expended from the general fund of the Treasury by the Departments of HEW and Treasury for the administration of (1) titles II, and XVIII of the Social Security Act, and (2) specified chapters and subchapters of the Internal Revenue Code. Requires the Secretary of HEW to apportion (between each trust fund and the general fund in the Treasury) the costs of administrating titles II, XVI and XVIII of the Social Security Act and its costs in carrying out specified functions of this Act. Provides that average monthly wage, quarters of coverage, and coverage credits derived from self-employment income for taxable years beginning before 1974 are to be determined on a basis of income credited to calendar quarters. Limits quarters coverage to quarters occuring before 1974 and makes additional modification to taxation of self-employed persons. Allocates, under the Social Security Act, coverage credits for earnings before 1974 based on quarters of coverage and after 1973 on the basis of earnings during the calendar year. Provides that a person will satisfy the requirements prerequisite to a determination of disability if he has 20 or more coverage credits which were credited to the period ending on the day the disability arose and consisting of that part of the current calendar year up until the day the disability began and the nine prior calendar years. Redefines a "fully insured individual" in terms of coverage credits rather than quarters of coverage. States that any person upon attaining the age of 62 with the proper number of coverage credits is fully insured. Provides that specified benefits be paid to individuals not citizens of the United States who amassed sufficient coverage credits. Title II: Amendments Preserving Relationship Between Railroad Retirement and Old-Age, Survivors, and Disability Insurance - Provides, under the Railroad Retirement Act of 1937, that in the calucalation of an employee's "average monthly remumeration" after calendar year 1974 an individual employee shall obtain the benefit of full allowable coverage credits, irrespective of whether particular quarters of coverage were otherwise available for calculation purposes.
United States · United States Congress · 9 April 1974
Entitles specified veterans of World War I and their widows and children to veterans' pension benefits on the same basis as that accorded to veterans of the Spanish American War and their widows and children, respectively. Provides for an increase in pension rates applicable to such classes of veterans.
United States · United States Congress · 20 March 1974
National Development Act - Expresses the findings of Congress and the purpose of this Act. Creates a body corporate to be known as the National Development Bank, which shall be an instrumentality of the United States Government having succession until dissolved by Act of Congress, and which will make and guarantee long-term loans at reasonable interest rates: (1) to State and local governments for public works and facilities; (2) to individuals and corporations to establish new businesses and industries and to expand or otherwise improve existing businesses and industries; and (3) to public agencies and private nonprofit and limited dividend corporations for the construction of low- and moderate-income housing. Defines the terms used and sets forth the rules of construction for purposes of this Act. Vests the management of the Bank in a Board of Directors consisting of the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Housing and Urban Development, the Secretary of Agriculture, the Secretary of Labor, and ten other persons who shall be appointed by the President with the advice and consent of the Senate. Provides for the appointment of the President of the Bank and other officers by the Board. States that the Bank shall have capital stock of $1,000,000,000 subscribed to by the United States. Empowers the Bank to issue notes, debentures, bonds, and other evidences of indebtedness in such amounts and on such terms and conditions as its Board of Directors may determine subject to the limitations prescribed in this Act. Provides that the Bank may make or guarantee loans to provide funds for: (1) the purchase of real and personal property and for working capital necessary for the location of new business and industry or the improvement of existing business and industry in depressed urban and rural areas; (2) financing capital expenditures for public works and community facilities; and (3) making loans to appropriate public agencies, nonprofit cooperatives and corporations, developers, and other persons to provide construction loans for low-and moderate-income housing loan programs of the Department of Housing and Urban Development, the Veterans' Administration, and the Farmers Home Administration of the Department of Agriculture. Authorizes to be appropriated, without fiscal year limitation, the sum of $1,000,000,000, to the Secretary of the Treasury to finance the purchase of Bank stock. Authorizes to be appropriated, without fiscal year limitation, such sums as may be necessary to pay the difference, if any, between the interest paid by the Bank on its obligations and interest received by the Bank on its loans, and to reimburse the capital of the Bank to the extent of any defaults, and such additional sums as may be necessary to establish and operate the Bank and otherwise carry out the purposes of this Act.
United States · United States Congress · 27 February 1974
Increases to $1,250 (presently $750) the personal income tax exemptions of a taxpayer under the Internal Revenue Code (including the exemption for a spouse, the exemptions for dependents, and the additional exemptions for old age and blindness). (Amends 26 U.S.C. 151)
United States · United States Congress · 26 February 1974
Repeals the provisions of the Defense Production Act of 1950 (50 U.S.C. App. 2094), authorizing loans to private business for defense purposes and loans to private business and government agencies for purchase of raw materials and installation of equipment. Directs the Secretary of the Treasury to cancel the outstanding balance of all unpaid notes issued to the Secretary for such loans, together with interest accrued and unpaid. States that at the close of each fiscal year there shall be deposited into the Treasury as miscellaneous receipts, from any amounts appropriated under this Act, an amount which the Secretary of the Treasury determines necessary to provide for the payment of any interest accrued and unpaid under this Act.
United States · United States Congress · 13 February 1974
Food Supplement Amendment - Defines the term "food supplement" for purposes of the Federal Food, Drug, and Cosmetics Act to mean food for special dietary uses, and defines the meaning of "special dietary uses" as particular uses of food for man which meets specified requirements. Provides that in administering such Act the Secretary of Health, Education, and Welfare: (1) shall not limit the potency, number, combination, amount, or variety of any synthetic or natural vitamin, mineral, substance, or ingredient of any food supplement unless such article is intrinsically injurious to health in the recommended dosage; and (2) shall not require a warning label on any food supplement unless such article is intrinsically injurious to health in the recommended dosage.
United States · United States Congress · 13 February 1974
Provides, under the Small Business Act, for direct loans at the rate of 4 percent per annum to small business concerns adversely affected by the energy crisis. (Amends 15 U.S.C. 636 b)
United States · United States Congress · 13 February 1974
Establishes the Advisory Commission on Freight Rates for Farm Products to study the economic impact on the Nation's economy of charges for transportation by any means of farm products and whether all departments and agencies are carrying out national transportation policy regarding transportation of farm products. Authorizes necessary appropriations to carry out this Act. Terminates the commission 90 days after the issuance of its report on such study. Prohibits any common carrier by railroad, subject to the Interstate Commerce Act, from increasing any rate for transportation of grain in bulk until one year after the commission submits its report.
United States · United States Congress · 30 January 1974
States that the further expenses of conducting the investigations and studies authorized by H. Res. 18, 93d Congress, incurred by the Committee on Banking and Currency, not to exceed $912,000, in addition to the unexpended balance of any sum heretofore made available for conducting such investigations and studies, including expenditures for employment, travel, and subsistence of investigators, attorneys, individual consultants or organizations thereof, and clerical, stenographic, and other assistance, shall be paid out of the contingent fund of the House on vouchers authorized by such committee, signed by the chairman of such committee, and approved by the Committee on House Administration. Provides that not to exceed $100,000 of the amount provided by this resolution may be used to procure the temporary or intermittent services of individual consultants or organizations. States that not to exceed $388,000 of the total amount provided by this resolution shall be made available for the expenses of the Housing Subcommittee.
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