United States · United States Congress · 14 October 1978
Amends the Congressional Budget Act of 1974 to require that a statement of the steps that have been or will be taken to reduce unobligated balances of budget authority under Federal programs and an estimate of the level of unobligated balances of budget authority that will exist at the end of the fiscal year be included in the report accompanying the first concurrent resolution on the budget each year, and in the annual reports submitted by other committees to the Budget Committees of the House of Representatives and the Senate, and in the President's annual budget.
United States · United States Congress · 13 October 1978
Comprehensive Anti-Inflation Act - Title I: Coordination of Economic Policies - Amends the Employment Act of 1946 with the stated purpose of reducing the rate of inflation and keeping it within reasonable bounds. Directs the President, in each annual Economic Report, to establish economic and regulatory policies which set forth: (1) current trends in the levels of prices, wages, productivity, and production costs, including projections for inflation rates in the next calendar year; (2) annual numerical inflation goals; (3) fiscal policy targets; and (4) specific programs designed to achieve such inflation goals. Directs the Board of Governors of the Federal Reserve System to transmit annually to the Congress an independent statement of its intended monetary policies for the year. Title II: Establishment of Guidelines - Directs that a set of guidelines be established to govern price increases and wage settlements. Authorizes the President to promote voluntary compliance with such guidelines. Prohibits the use of mandatory wage or price controls by the President. Requires the Council of Economic Advisors to seek the advice and concurrence of the Council on Wage and Price Stability in establishing economic policies and guidelines. Title III: Policies and Programs to Reduce Inflation - Directs the President, in formulating and revising tax policy: (1) to reduce, or substitute for, taxes which significantly increase price levels; (2) to develop specific procedures to promote the promulgation of economically efficient and socially desirable regulations; (3) to deregulate industries over which the Federal Government has ratesetting authority; (4) to encourage the growth of productivity in both the private and public sectors; (5) to examine the use of tax incentives to hold cost increases to specified levels; (6) to strive to preserve production incentives and allow market forces to operate wherever possible; (7) to address the price implications of energy policies in the Economic Report; (8) to explore ways to increase competition in concentrated industries; and (9) to pursue negotiations for fair trade agreements with foreign nations. Title IV: Congressional Review - Directs the Joint Economic Committee to hold special hearings to review the President's proposed economic policies and to submit its findings and recommendations to the House of Representatives and the Senate.
United States · United States Congress · 12 October 1978
Amends the Internal Revenue Code to allow a credit against the tax liability of an individual equal to 50 percent of the State and local income taxes paid by such individual in a taxable year. Limits the allowable credit to 20 percent of such individual's tax liability. Disallows income tax deductions for State and local individual income taxes, State and local general sales taxes, and State and local taxes on gasoline and other motor fuels.
United States · United States Congress · 12 October 1978
Specifies that each State entitled to more than one Representative in the 99th Congress or any subsequent Congress shall establish a number of districts equal to the number of Representatives to which that State is entitled. Directs the districts to be established as soon as practicable after the latest decennial census, but in no case later than three years. Sets forth the standards for establishing districts in order to insure fair and effective representation in the House of Representatives. Declares that any State legislature may establish by law standards for establishing fair and effective districts. Sets forth judicial procedures to insure compliance with this Act.
United States · United States Congress · 12 October 1978
Fair Employment Relations Resolution - Title I: Fair Employment Relations Board - Establishes as an office of the House of Representatives the House Fair Employment Relations Board to: (1) establish and publish policies and guidelines for the implementation and enforcement of clause 9 of rule XLIII and clause 6(a)(3)(A) of the Rules of the House of Representatives; (2) supervise the actions of the Director and the operations of the House Fair Employment Relations Office; and (3) hear and determine complaints. Title II: House Fair Employment Relations Office - Establishes as an office of the House of Representatives the House Fair Employment Relations Office to develop procedures to implement the policies of the Board, gather information relating to House employment practices, and review procedures for the hearing and setting of complaints. Title III: Complaints of Violations of Equal Employment Opportunities - Provides for counseling and assistance through the Office to any individual who believes that he or she has been discriminated against in violation of rule XI of the Rules of the House of Representatives. Sets forth the procedures for filing informal complaints based on employment discrimination, and for the informal settlement of such claims. Sets forth the procedure for filing formal complaints, and for conducting hearings on such claims. Provides for an appeal to the Committee on Standards of Official Conduct from an adverse decision or order of the Board. Sets forth remedies available to individuals who have been discriminated against.
United States · United States Congress · 6 October 1978
Congressional Districting Act - Specifies that each State entitled to more than one Representative in the 98th or any subsequent Congress shall establish a number of districts equal to the number of Representatives to which that State is entitled. Declares that no district shall differ substantially in population size from another. Requires a five-member redistricting commission to be established in such State which shall conduct public hearings with respect to the boundaries of districts and prepare and submit to the Federal Election Commission a plan for redistricting to be published in the Federal Register. Sets forth judicial procedures to insure compliance with this Act. Authorizes the Federal Election Commission to administer and distribute funds to each State for the purpose of carrying out the provisions of this Act.
United States · United States Congress · 4 October 1978
Gold Medallion Act - Authorizes the Secretary of the Treasury to offer gold for sale to the public in the form of gold medallions. Provides for the issuance of such medallions.
United States · United States Congress · 25 September 1978
Sunset Program Reauthorization and Evaluation Act - Title I: Reauthorization of New Budget Authority - Requires Government programs to be evaluated pursuant to a specified schedule to determine whether each such program should be continued, terminated, or altered (reauthorization review). Prohibits the authorization of new budget authority for a period of more than ten years. Prohibits the authorization of new budget authority for any program for which there has not been conducted a reauthorization review. Requires the Director of the Congressional Budget Office, in consulation with the Comptroller General and the Director of the Congressional Research Service, to compile a list of programs subject to a reauthorization date for which new budget authority was not authorized. Title II: Program Inventory - Requires the Comptroller General to compile an inventory of Federal programs including a description of such programs covering specified topics. Title III: Program Review and Evaluation - Requires each House of Congress to select from the programs scheduled for reauthorization review in any given year a number of programs for comprehensive reauthorization review. Requires the President and each congressional committee to recommend such programs. Title IV: Citizens' Commission on the Organization and Operation of Government - Establishes an independent Citizen's Commission on the Organization and Operation of Government to study the organization and operation of Federal agencies and to recommend ways to improve the efficiency and operations of such agencies. Requires the Commission to submit its final report by July 1, 1983, and terminates the Commission 90 days after the submission of such report. Title V: Miscellaneous - Requires the Comptroller General to furnish Congress with the results of prior audits and reviews of programs being reviewed under this Act. Requires all agencies which are exempt from reauthorization review to submit a status report to Congress.
United States · United States Congress · 21 September 1978
Capital Availability for Higher Education Act - Amends the Higher Education Act of 1965 to: (1) raise from $2,500 to $3,500 the limit per academic year on federally insured loans to undergraduate students; (2) raise from $7,500 to $10,500 the total amount of such loans per undergraduate student; and (3) remove the $15,000 loan ceiling for graduate students. Authorizes eligible lenders to elect to have such loans collected by the Federal Government through the Secretary of the Treasury and the Commissioner of Education. Establishes guidelines and requirements for such program, including the deduction and withholding of wages by employers of student borrowers. Establishes the Guaranteed Student Loan Fund in the United States Treasury to repay funds withheld from the wages borrowers to lenders. Establishes an advisory panel to consider questions relating to such federally insured higher education loans.
United States · United States Congress · 20 September 1978
Amends the Rules of the House of Representatives to require that remarks of Members made on the floor of the House or submitted for inclusion in the Congressional Record, including revisions and extensions, be relevant to governmental matters.
United States · United States Congress · 20 September 1978
Expresses the concern of Congress for the safety of the residents of the South African black community known as "Crossroads." Urges the South African Government: (1) to reconsider its plan to destroy Crossroads; and (2) to recognize the right of the residents to continue to live in Crossroads.
United States · United States Congress · 13 September 1978
Federal Reserve Act Amendments - Amends the Federal Reserve Act to authorize the Board of Governors of the Federal Reserve System to require specified depository institutions to submit to the Board such periodic financial reports as the Board determines to be necessary for it to control and monitor monetary and credit aggregates. Requires every bank subject to reserve requirements to maintain reserves at the rate of seven percent against the total of its demand deposits, savings deposits, and deposits subject to negotiable orders of withdrawal that exceed $50,000,000. Authorizes the Board to adjust this rate between six and eight percent. Requires reserves against time deposits with initial maturities of less than 180 days at a rate of six percent, which may be adjusted by the Board at levels between one and six percent. Requires reserves on time deposits with initial maturities of 180 days or more at the rate of one percent, which may be adjusted by the Board at levels between one and three percent. Preempts State reserve requirements for member banks and banks with required reserves greater than zero. Imposes reserve requirements on the sum of time deposits that exceed $50,000,000, requiring the $50,000,000 exemption to be apportioned between time deposits. Requires the Board to determine each year the level of the total of demand, savings, negotiable order of withdrawal and time deposits that will be subject to reserve requirements provided the proportions established for banks whose reserve requirements are greater than zero do not exceed the proportions of such totals on June 30, 1970. Subjects to reserve requirements any bank that is either an insured bank or is eligible to apply to become an insured bank under the Federal Deposit Insurance Act. Exempts savings and mutual savings banks as defined in such Act from reserve requirements. Authorizes the Board to establish additional reserve requirements against: (1) net balances owed by domestic offices of banks in the United States to foreign offices or banks; and (2) loans to United States residents made by overseas offices of banks with offices in the United States. Grants certain privileges of member banks of the Federal Reserve System to non-member banks maintaining reserves required by this Act. Authorizes the imposition of reserve requirements exceeding the limits imposed by this Act for 30-day periods upon a finding that extraordinary circumstances require such action by at least five members of the Board after consultation with the appropriate committees of Congress. Provides a four year transition period for nonmember banks to implement the reserve requirements imposed by this Act. Extends a similar transition period to member banks in meeting requirements that exceed those in effect immediately prior to July 1, 1979. Requires the Board to implement the reserve requirements imposed by this Act for member banks within two years. Requires that reserves be maintained in the form of balances at a Federal Reserve Bank or as vault cash as determined by regulation or order of the Board, provided such requirements are identical for all banks. Permits reserve balances to be maintained by a nonmember bank in member or nonmember banks that maintain reserve balances at a Federal Reserve bank, provided such banks pass the balances to a Federal Reserve bank. Exempts such funds from reserve requirements and Federal Deposit Insurance assessments. Directs the Board to study the following: (1) the Federal funds market; (2) the long-run effects of the reserve requirements established by this Act on savings deposits at commercial banks; (3) the feasibility of permitting member banks to invest a percentage of their required reserves in United States Treasury securities; (4) the repeal of the prohibition against the payment of interest on demand deposits; (5) the feasibility of imposing reserve requirements on transaction accounts at thrift institutions; and (6) the use of savings deposits at commercial banks for transaction purposes via prearranged transfers to demand accounts. Directs the Board to prepare and publish a schedule of fees for its services and a set of pricing principles by July 1, 1979.
United States · United States Congress · 12 September 1978
Amateur Sports Act - Title I: Declaration of Policy - Makes findings and states that the policy of Congress is to promote amateur athletics and protect the right of amateur athletes to participate in athletic competition. Title II: Olympic Committee Reorganization - Amends the corporate charter of the Olympic Committee to (1) provide for a principal place of business of the United States Olympic Committee (Corporation); (2) set forth the objectives and purposes of the Corporation; (3) set forth the powers of the Corporation; (4) provide reasonable representation for specified individuals and organizations in establishing and maintaining provisions for the governance and conduct of its affairs; and (5) subject to civil liability any person who uses an Olympic designation without authority to promote a private financial interest. Permits contributors or suppliers of goods or services to use the name of the United States Olympic Committee or its designation to advertise that such goods or services have been furnished to, approved, or selected by the Corporation. Requires the Corporation to establish in its constitution and bylaws provisions for the resolution of disputes involving the opportunity of an amateur athlete or other specified individuals to participate in sanctioned athletic competitions. Authorizes the Corporation to recognize as a national governing body any amateur sports organization (but only one for each sport) which submits an application for recognition and complies with eligibility requirements. Sets forth such eligibility requirements. Sets forth the duties and powers of a national governing body and the requirements which an amateur sports organization must meet to hold an athletic competition or sponsor athletes in competition and be sanctioned by a national governing body. Grants to the Corporation the power of review over the actions of any national governing body and invests a United States district court with jurisdiction to enjoin any action of a national governing body inconsistent with the terms of the Corporate charter. Sets forth procedures for the Corporation in (1) processing a complaint against a national governing body by an individual athlete or an amateur sports organization; (2) revoking recognition of a national governing body; and (3) replacing an incumbent national governing body. Provides for arbitration of a determination of the Corporation. Authorizes the Secretary of Commerce to lend financial assistance to the Corporation in developing amateur athletics in the United States. Authorizes appropriations for carrying out the work of the national governing bodies. Directs the Secretary to conduct a feasibility study to determine the most appropriate means of providing funding to the Corporation for the construction and operation of training centers and sports medicine research facilities.
United States · United States Congress · 7 September 1978
Citizen Protection Act - Amends the Civil Rights Act of 1964 to require a subpena duces tecum for the search for and seizure of evidence when anyone acting under color of law has probable cause to believe evidence of a crime is located on or about premises in which the person in possession of the evidence has a reasonable expectation of privacy. Permits issuance of a search warrant instead of a subpena duces tecum only if there is probable cause to believe: (1) the person in possession of the evidence may be involved in the crime under investigation; or (2) the evidence sought to be seized would be destroyed, hidden, or moved if the subpena duces tecum procedures set out in this Act were followed. Creates a cause of action for any person aggrieved by a violation of this Act, allowing punitive damages of up to $10,000 for each violation.
United States · United States Congress · 17 August 1978
Good Samaritan Act - Declares: (1) that any physician, registered nurse, or aircraft employee who, in good faith and with a reasonable belief that immediate medical attention is necessary, renders emergency care to an injured or ill person aboard an aircraft within the special aircraft jurisdiction of the United States shall not be liable for any civil damages as a result of any act or omission by such individual in rendering such care, except for any act or omission amounting to gross negligence or willful or wanton misconduct; and (2) that any such individual shall not be liable for any such act or omission in rendering continued emergency care to the injured or ill person during transportation from the aircraft to a medical facility for further treatment or care.
United States · United States Congress · 17 August 1978
Urges the President to communicate with the Soviet Union concerning its obligation in accordance with the Helsinki accords to allow Isaac Zlotver to emigrate from the Soviet Union.
United States · United States Congress · 17 August 1978
Expresses the sense of the Congress that the Attorney General should parole into the United States the 15,000 Cambodian refugees, half to come in fiscal year 1979, and half in fiscal year 1980.
United States · United States Congress · 16 August 1978
Nuclear Incident Liability Reform Act - Amends the Atomic Energy Act of 1954 to require that licensees for nuclear facilities obtain the maximum amount of liability insurance available from private sources. Requires that such licensees participate in an industry retrospective rating plan in addition to maintaining such insurance. Directs the Nuclear Regulatory Commission to establish rules specifying the rates for deferred premiums charged to licensees under such plan in the event of any nuclear incident resulting in public liability which exceeds or appears likely to exceed the level of a licensee's primary financial protection and the amount otherwise available from such licensee for the satisfaction of such liability. Authorizes the Commission to loan to a licensee, at prescribed interest rates, the amount by which an assessment of deferred premiums exceeds the amount which the licensee is able to pay within a reasonable time following any nuclear incident without impairing its ability to provide electric utility service. Repeals the provisions of the Atomic Energy Act of 1954 relating to indemnification of licensees from liability which is in excess of the level of financial protection required of the licensee. Eliminates the $500,000,000 ceiling on indemnification of contractors of the Commission against claims for liability, arising out of contractual activities, which are above the amount of financial protection required of contractors. Repeals provisions of such Act relating to: (1) the $560,000,000 maximum aggregate liability for a single nuclear incident; (2) the collection of fees for indemnification agreements, and (3) compensation to private insurance organizations for services connected with handling indemnifications. Eliminates the exemption from the requirements of financial protection of nonprofit educational, institution licensees. Repeals the Commission's authority to indemnify persons engaged in activities relating to the Nuclear Ship Savannah from liability for nuclear incidents. Terminates the Commission's authority to enter agreements with other indemnitors with respect to emergency assistance payments. Makes technical and conforming amendments to carry out the purposes of this Act.
United States · United States Congress · 16 August 1978
Tuition Advance Fund Act - Amends the Higher Education Act of 1965 to authorize the Commissioner of Education to establish a system of undergraduate tuition advances to be repaid as an income tax imposed by the Internal Revenue Code of 1954. Establishes a trust fund in the United States Treasury for such tuition advance program.
United States · United States Congress · 16 August 1978
Directs the Civil Aeronautics Board to immediately dissolve the Airlines Mutual Aid Pact. Directs the Board to study the collective bargaining process within the airline industry and to make recommendations to Congress within six months on methods of alleviating the occurrence of protracted airline strikes.
United States · United States Congress · 15 August 1978
Amends the Communications Act of 1934 to provide that each State shall have at least one very high frequency commercial television station located within the State.
United States · United States Congress · 14 August 1978
Comprehensive Anti-Inflation Act - Title I: Coordination of Economic Policies - Amends the Employment Act of 1946 with the stated purpose of reducing the rate of inflation and keeping it within reasonable bounds. Directs the President, in each annual Economic Report, to establish economic and regulatory policies which set forth: (1) current trends in the levels of prices, wages, productivity, and production costs, including projections for inflation rates in the next calendar year; (2) annual numerical inflation goals; (3) fiscal policy targets; and (4) specific programs designed to achieve such inflation goals. Directs the Board of Governors of the Federal Reserve System to transmit annually to the Congress an independent statement of its intended monetary policies for the year. Title II: Establishment of Guidelines - Directs that a set of guidelines be established to govern price increases and wage settlements. Authorizes the President to promote voluntary compliance with such guidelines. Prohibits the use of mandatory wage or price controls by the President. Requires the Council of Economic Advisors to seek the advice and concurrence of the Council on Wage and Price Stability in establishing economic policies and guidelines. Title III: Policies and Programs to Reduce Inflation - Directs the President, in formulating and revising tax policy: (1) to reduce, or substitute for, taxes which significantly increase price levels; (2) to develop specific procedures to promote the promulgation of economically efficient and socially desirable regulations; (3) to deregulate industries over which the Federal Government has ratesetting authority; (4) to encourage the growth of productivity in both the private and public sectors; (5) to examine the use of tax incentives to hold cost increases to specified levels; (6) to strive to preserve production incentives and allow market forces to operate wherever possible; (7) to address the price implications of energy policies in the Economic Report; (8) to explore ways to increase competition in concentrated industries; and (9) to pursue negotiations for fair trade agreements with foreign nations. Title IV: Congressional Review - Directs the Joint Economic Committee to hold special hearings to review the President's proposed economic policies and to submit its findings and recommendations to the House of Representatives and the Senate.
United States · United States Congress · 14 August 1978
Declares that the Federal Government should adopt an explicit national population policy and encourage and assist other countries to achieve their population goals. Directs all agencies of the Federal Government: (1) to give appropriate consideration to population dynamics in decisionmaking; and (2) to review their present statutory authority, regulations, and policies to achieve compliance with the purposes of this Act. Requires the President to annually transmit to Congress a Population Growth and Distribution Report. Requires the Secretary of State and the Director of the Agency for International Development to submit for inclusion in such report specified data concerning each nation of the world. Establishes in the Executive Office of the President an Office of Population Policy: (1) to develop and recommend policies to meet the environmental, social, economic, health, and other needs of the Nation; (2) to study population growth; (3) to report annually to the President; and (4) to coordinate with the Secretary of State and the Director of the Agency for International Development with respect to international policies affecting population growth.
United States · United States Congress · 11 August 1978
Federal Reserve Act Amendments - Amends the Federal Reserve Act to authorize the Board of Governors of the Federal Reserve System to require specified depository institutions to submit to the Board such periodic financial reports as the Board determines to be necessary for it to control and monitor monetary aggregates. Subjects to reserve requirements any bank that is either an insured bank or is eligible to apply to become an insured bank under the Federal Deposit Insurance Act. Exempts savings and mutual savings banks as defined in such Act from reserve requirements. Requires such banks to maintain reserves against their reservable liabilities, as such term is defined in this Act, at a rate of six percent, or at such other rate between five and one-half and six and one-half percent as the Board may by requlation prescribe. Sets forth a formula for determining the amount of reservable liabilities held by such banks. Eliminates the use of different reserve ratios for member banks not in reserve cities. Authorizes the Board to impose reserve requirements outside the limits established by this Act for 30-day periods upon a finding that extraordinary circumstances require such action. Authorizes the Board to establish additional reserve requirements against: (1) net balances owed by domestic offices of banks in the United States to foreign offices or banks; and (2) loans to United States residents made by overseas offices of banks with offices in the United States. Grants certain privileges of member banks in the Federal Reserve System to nonmember banks maintaining reserves required by this Act.
United States · United States Congress · 10 August 1978
Directs the Internal Revenue Service not to adopt a position which is inconsistent with a general audit position, a regulation, or a ruling in effect on January 1, 1976, in determining whether an individual is an employee for purposes of social security taxation, unemployment taxation, and income tax withholding. Prohibits the treatment of any individual as an employee of any employer, if such employer consistently treated the individual, in good faith, as an independent contractor in reasonable reliance on either past IRS audit practice, published rulings or judicial precedent, recognized practice in the industry, or long-standing treatment of the individual as an independent contractor.
United States · United States Congress · 8 August 1978
Declares it the sense of the House of Representatives that the Committee on Ways and Means should study and consider legislation to achieve the goals of recent proposals by certain economists to control inflation by providing tax benefits to employers who moderate price increases for their products and to employees who moderate wage demands.
United States · United States Congress · 7 August 1978
Senior Citizens' Property Tax Relief Act - Authorizes the Secretary of Housing and Urban Development to pay to a State 66 2/3 percent of the amount the State pays on behalf of senior citizen homeowners for real property taxes. Requires a State which wishes to receive such payments to pay all the property taxes due by the senior citizen and to obtain repayment upon the death of the homeowner from the estate. Directs the State to repay amounts paid by HUD upon receipt of payment from the estate.
United States · United States Congress · 4 August 1978
Repeat Offenders Prosecution and Prison Improvement Act - Title I: Financial Assistance for Career Criminal Prosecution Programs - Authorizes the Administrator of the Law Enforcement Assistance Administration to provide grants and technical assistance to certain units of local government having populations of at least 250,000 for the establishment and operation of programs designed to identify and expedite the prosecution of career criminal offenders. Sets forth requirements for grant applications and limits on payments to any single local government. Establishes within the Law Enforcement Assistance Administration of the Department of Justice an Office of Repeat Offenders to administer, disseminate information, and report to the President and Congress on the grant and assistance programs created in this title. Title II: Federal Regional Prison System - Directs the Attorney General to construct five Federal regional prisons to be managed by the Bureau of Prisons. States that not more than 25 percent of the prisoners confined in any such prison may be persons convicted of Federal crimes, the balance of the inmates to consist of State offenders who would otherwise qualify for imprisonment in a Federal medium or maximum security institution and are assigned to a regional prison pursuant to a State contract with the Attorney General. Subjects State prisoners confined in prisons built under this Act to the same discipline and treatment as Federal prisoners and to the same parole standards as State prisoners in the State in which the prisoner was convicted.
United States · United States Congress · 1 August 1978
Amends the Internal Revenue Code to exempt taxpayers from the payment of interest or a penalty on tax deficiencies attributable to erroneous advice obtained in writing from an Internal Revenue Service Officer or employee acting in an official capacity.
United States · United States Congress · 1 August 1978
Declares that President Brezhnev of the Soviet Socialist Republics should authorize the release of Doctor Semyon Gluzman from prison and allow him and his family to emigrate to Israel.
United States · United States Congress · 1 August 1978
Expresses the disapproval of the Congress of the denial by the Government of the Soviet Union of the right to emigrate and the harassment and imprisonment of individuals, including Mrs. Ida Nudel, who desire to emigrate.
United States · United States Congress · 17 July 1978
Urban Park and Recreation Recovery Act - Authorizes the Secretary of Housing and Urban Development to establish an urban park and recreation recovery program to provide financial assistance for rehabilitation of recreation areas and facilities in the form of challenge grants to local governments. Sets the requirements for grant eligibility. Directs the Secretary to promulgate funding priority regulations, for processing and approval of grant proposals, which include the use of objective data to measure comparative need for assistance among local governments. Requires regulations to include criteria evaluating the extent to which local governments have demonstrated results in providing equal opportunity housing.
United States · United States Congress · 14 July 1978
Amends the Internal Revenue Code to allow handicapped individuals who are incapable of operating highway vehicles an income tax deduction for their comuting expenses.
United States · United States Congress · 13 July 1978
Financial Institutions Regulatory Act - Title I: Supervisory Authority Over Depository Institutions - Creates civil penalties for specified insiders loans and loans to affiliates, prohibited by the Federal Reserve Act, for violations of reserve borrowing loan limits. Amends the Federal Reserve Act to prohibit member banks from making loans to insiders under specified conditions. Amends the Bank Holding Company Act of 1956 to authorize the Board of Governors of the Federal Reserve System to order the termination of control or ownership by a bank holding company of any of its nonbank subsidiaries whenever they constitute a serious risk to the financial safety of a subsidiary bank of the holding company. Amends the National Housing Act by authorizing the Federal Savings and Loan Insurance Corporation to order the termination of ownership or control of any noninsured subsidiary by a savings and loan holding company whenever there is reasonable cause to believe that continued ownership constitutes unsafe and inconsistent banking practice. Grants authority to the Federal Savings and Loan Insurance Corporation to make loans to a savings and loan association in order that it may buy the assets of a failing savings and loan institution so as to prevent the failure of such institution. Prescribes penalties for the violation of any provision of this Title. Authorizes financial regulatory agencies, including the National Credit Union Administration and the Federal Home Loan Bank Board, to initiate cease and desist actions against officers, directors, stockholders, or any person participating in the affairs of a financial institution (as well as against the institution itself as is allowed by current law) when there have been violations of laws and regulations or unsafe and unsound banking practices which are likely to seriously weaken the condition of the institution in question. Sets forth a procedure to be followed for removal of any officer or director for breach of fiduciary duty. Increases the allowable mortgage and education loans to executive officers of banks. Creates a hearing process for removal of a bank officer or director based on an indictment for or conviction of a felony. Title II: Interlocking Directors - Depository Institution Management Interlocks Act - Prohibits interlocking management and director relations between any depository institutions or depository holding companies located in the same metropolitan area. States that this prohibition applies without regard to geographical limits where such an institution has assets exceeding $1,000,000,000 and seeks an interlocking relationship with any institution with assets over $500,000,000. Delegates authority for the enforcement of this Act. Title III: Foreign Branching - Amends the Federal Deposit Insurance Act to prohibit any State nonmember insured bank from operating any foreign branch without prior written consent of the Federal Deposit Insurance Corporation (FDIC). States that when the liabilities of an insured bank for deposits are assumed by another insured bank the following shall occur: (1) the insured status of the bank whose liabilities are assumed shall terminate on the date of receipt by the FDIC of evidence of such assumption; (2) termination of separate insurance of all assumed deposits at the end of six months from the effective date; and (3) notification of such assumption by the assuming bank to each of the depositors of the assumed bank. Amends existing requirements for the reporting and assessment of deposits accumulated for the payment of personal loans when such deposits are assigned or pledged to assure the payment of such loans at maturity. Title IV: Conflicts of Interest - Depository Institutions Conflict of Interests Act - Amends the Federal Deposit Insurance Act, the Federal Reserve Act and the Federal Home Loan Bank Act to prohibit specified Presidential-appointee bank regulatory agency heads and members of such agencies from being employed for a period of two years after they leave office by institutions under their regulatory jurisdiction or with a holding company affiliate. Prohibits such individuals from appearing before the board of their respective agencies, either formally or informally, from contacting such board, directly or indirectly, orally or in writing, or from acting as agent or attorney for any other person, other than the United States, before such board for a period of two years immediately following their employment. Title V: Credit Union Restructuring - Reorganizes the National Credit Union Administration and places it under the management of the National Credit Union Administration Board. Directs the chairperson of such Board to represent the Administration in its official relations with other branches of Government. Restricts the employment and activities of Board members for a period of two years immediately following their employment. Requires each Federal credit union to pay the Administration an annual operating fee and to make annual financial reports to the Board. Title VI: Change in Bank Control Act - Amends the Federal Deposit Insurance Act to prohibit any person from acquiring any insured bank or bank holding company unless the appropriate Federal banking agency has been notified and has not issued a notice of its disapproval within a specified time period. Prescribes the procedure to be followed by any agency in making its determination to approve or deny such change of control. Title VII: Change in Savings and Loan Control Act - Amends the National Housing Act to prohibit any person from acquiring control of any federally insured savings and loan association or holding company unless the Federal Deposit Insurance Corporation has been notified and has not issued a notice of its disapproval within a specified time period. Prescribes the procedure to be followed by the Corporation in making its determination to approve or deny such change of control. Requires any insured institution to disclose any loan secured, or to be secured, by 25 percent or more of the outstanding voting stock of an insured institution to the Corporation. Prescribes civil penalties for violations of this Title. Title VIII: Correspondent Accounts - Prohibits the extension of credit to any officer, director, or specified stockholders of a bank which has a correspondent relationship with the lending bank, in its own name or in the name of another bank, unless such loan does not: (1) involve more than the normal risk of repayment; (2) include unusual terms of interest or collateral; or (3) present any other unfavorable features. Prohibits the establishment of a correspondent account where a loan already has been made to any officer, director, or specified stockholders of the bank desiring to open the account. Prescribes civil penalties for violations of this Title. Requires each executive officer and each stockholder who directly or indirectly owns, controls, or has the power to vote more than ten percent of any class of voting securities of an insured bank, to submit a written report to the board of directors of such bank for any year in which such officer or stockholder has outstanding an extension of credit from a bank which maintains a correspondent account in the name of such bank. Requires such report to include: (1) the maximum amount of indebtedness to the bank maintaining the correspondent account of such officer or stockholder and of each company, political or campaign committee which will benefit or is controlled by such officer or stockholder; (2) the maximum amount of such indebtedness as of a date not more than ten days prior to the filing of the report; (3) the range of interest rates charged on such indebtedness; and (4) the terms and conditions of such indebtedness. Requires each insured bank to compile and submit such reports to specified regulatory agencies. Title IX: Disclosure of Material Facts - Amends the Federal Deposit Insurance Act to list information which must be included in an annual report to be made by each insured bank to the appropriate Federal banking agency. Title X: Federal Financial Institutions Examination Council - Federal Financial Institutions Examination Council Act - Establishes a Financial Institutions Examinations Council to prescribe uniform principles and standards for the Federal examination of financial institutions. Defines the term "financial institution" to mean: (1) a commercial bank; (2) a savings bank; (3) a trust company; (4) a savings and loan association; (5) a building and loan association; (6) a homestead association; (7) a cooperative bank; and (8) a credit union. Directs that one-fifth of the operating costs of the Council be paid by each of the Federal financial institution regulatory agencies. Directs the Council to make recommendations for uniformity in other supervisory matters, including classification of loans subject to risk and identification of financial institutions in need of special supervisory attention. Requires the Council to establish a liaison committee composed of five representatives of State supervisory agencies in order to encourage the application of uniform examination principles and standards by State and Federal Supervisory agencies. Title XI: Right to Financial Privacy - Right to Financial Privacy Act - Prohibits any Government authority from obtaining copies of, access to, or the information contained in, the financial records of any customer from a financial institution unless such records are reasonably described and: (1) such customer has authorized such disclosure in accordance with this Act; (2) such records are disclosed in response to an administrative subpena or summons; (3) such records are disclosed in response to a court order; (4) such records are disclosed in response to a judicial subpena; or (5) such financial records are disclosed in response to a formal written request meeting specified requirements. Requires in all cases that the customer be notified of the agency seeking such records, the purpose for which such records are sought, and the rights of customers under this Act. Establishes specific conditions and procedures for the delay of notice to a customer. States that no financial institution may provide to a Government authority copies of or the information contained in the financial records of any customer except in accordance with the requirements of this Act. Sets forth provisions governing customer authorization, administrative subpenas and summonses, judicial subpenas, and search warrants. Establishes procedures for a customer to challenge the disclosure of financial records. Provides exceptions to the provisions of this Act and special procedures for the disclosure of records to the Secret Service and government authorities acting in the field of foreign intelligence. Establishes civil penalties and the right to injunctive relief without regard to the amount in controversy for violation of the provisions of this Title. Establishes conditions on the use of financial records about a customer obtained under the authority of a Federal grand jury. Title XII: Charters for Thrift Institutions - Amends the Home Owners' Loan Act to authorize the Home Loan Bank Board to provide for the organization, chartering operation, and regulation of associations to be known as Federal Savings and Loan Associations or Federal mutual savings banks. Subjects converting mutual savings banks to the requirements of existing State law pertaining to discrimination in the extension of home mortgage loans if the State requirements are more stringent than Federal laws and regulations. Establishes a five year shared risk program in the event that a converting insititution fails. Title XIII: Holding Companies - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from providing insurance as a principal, agent, or broker except: (1) where the insurance is to secure a credit transaction; (2) where the insurance is sold in a community with a population of less than 5,000 or that has no other adequate insurance agency facilities; (3) where the insurance is sold by a bank holding company or its affiliate lawfully engaged in insurance activities prior to June 6, 1978; or (4) where the bank holding company engaged in insurance activities has assets of $50,000,000 or less. Title XIV: Amendments to the National Banking Laws - Makes changes with respect to the following: (1) the power of national banks to purchase, hold, and convey real property; (2) the trust powers of national banks; (3) the emergency restrictions on Federal Reserve banks; and (4) examination of foreign operations of State member banks. Allows an individual who holds the required number of shares in a company that controls a banking association to serve as a director of that association. Permits a banking association to purchase shares of stock in a State chartered bank insured by the Federal Deposit Insurance Corporation if the stock of such bank is owned exclusively by other banks and if such bank is exclusively engaged in providing banking services for other banks, their officers, directors or employees. Limits the total amount of such stock which may be held by an association to five percent of its capital stock and paid in unimpaired surplus. Title XV: Termination of National Bank Closed Receivership Fund - Directs the Comptroller of the Currency to disburse the liquidating dividends from national banks closed on or before January 22, 1934, held by the Comptroller in the capacity as successor to receivers of those banks. Title XVI: Transaction Accounts - Permits any depository institution chartered by the Federal Home Loan Bank Board and located in a State which authorizes State-chartered institutions insured by the Federal Savings and Loan Insurance Corporation to offer transaction accounts permitting withdrawals or transfers of account on negotiable, transferable, or nonnegotiable check, order, or authorization, as determined by the Board, to offer comparable services to the extent authorized by the Board. Authorizes the Board to allow depository institutions located in the District of Columbia to offer transaction accounts if depository institutions in Virginia and Maryland are permitted to offer such accounts. Title XVII: Financial Regulation Simplification Act - Requires the Federal financial regulatory agencies to establish a program which assures periodic review of existing regulations to insure that: (1) the need for and purposes of a regulation are clearly established; (2) timely participation is available to the public, financial institutions, and other Federal, State and local agencies; (3) alternatives to the promulgation of regulations are considered; (4) compliance costs, paperwork and other problems are minimized; and (5) conflicts, inconsistencies and duplication between the regulations of Federal agencies are avoided. Terminates this Title five years after its effective date. Title XVIII: Alternative Mortgage Instruments - Permits federally chartered savings and loan associations to offer alternative mortgage instruments where State law, rules, or regulations, allow State chartered savings and loan associations to offer such instruments. Tile XIX: Prohibition on Credit Card Surcharges - Repeals the prohibition on the imposition of surcharges for payment by credit card in sales transactions. Title XX: Effective Date - Sets forth the effective date for this Act.
United States · United States Congress · 12 July 1978
Requests the President to convene a White House Conference on Foreign Trade to provide a forum for representatives of industries and labor organizations in the United States, scholars and experts in the field of foreign trade, representatives of Federal, State, and local government, and other interested persons to (1) examine and recommend methods to increase trade, (2) evaluate the recommendations made by the President's Task Force on Export Policy, and (3) assess the impact on the United States of the anticipated trade agreement of the Multilateral Trade Negotiations.
United States · United States Congress · 11 July 1978
Declares it the sense of the House of Representatives that the President undertake discussions with the other industrialized countries with a view toward establishing, in cooperation with the member countries of the Organization of Petroleum Exporting Countries (OPEC) which are in current account surplus, a major capital pool for productive investment in the developing countries.
United States · United States Congress · 11 July 1978
Declares it the sense of the House of Representatives that (1) the President recognize the severity of the international monetary crisis; (2) the President undertake discussion with the other industrialized countries to develop a common approach to this crisis; and (3) the approach should focus on a long-term solution to the crisis caused by exclusive reliance on the dollar as the key international monetary reserve asset.
United States · United States Congress · 29 June 1978
Authorizes the Board of Regents of the Smithsonian Institution to acquire the Museum of African Art. Establishes a Commission for the Museum of African Art to assist the Board in the operation and development of the Museum. Authorizes appropriations to carry out the purposes of this Act.
United States · United States Congress · 28 June 1978
Medicare Home Health Amendments - Amends Title XVIII (Medicare) of the Social Security Act to remove the 100 visit limitation presently applicable to home health care services under such Title. Eliminates prior hospitalization as a condition of eligibility for home health care services under part A (Hospital Insurance Benefits for the Aged and Disabled) of such Title. Eliminates confinement to home as a requirement for receiving home health care services under part B (Supplementary Medical Insurance Benefits for the Aged and Disabled) of such Title. Includes "periodic chore services" within those home health services for which payment may be made under the supplementary medical insurance program.
United States · United States Congress · 26 June 1978
Press Protection Act - Prohibits any person acting under color of law, without a prior adversary court proceeding, from searching any place or seizing any things in the possession, custody, or control of any person engaged in the gathering or dissemination of news for the print or broadcast media, unless with a warrant issued by a court upon probable cause that such person has committed or is committing a criminal offense. Establishes a criminal fine of not more than $10,000 for violation of this Act, and creates a civil cause of action for any person aggrieved by a violation. Allows punitive damages of up to $10,000, and reasonable attorneys fees.
United States · United States Congress · 22 June 1978
Directs the Secretary of the Treasury to strike bronze, silver, and gold national medals and deliver them to the Lake Placid 1980 Olympic Winter Games Corporation, a nonprofit corporation. Requires such medals to be struck at not less than their estimated cost of manufacture, plus a surcharge equal to 25 percent of such cost. Requires such surcharge to be deposited in the Treasury as miscellaneous receipts.
United States · United States Congress · 22 June 1978
Establishes an 11-member Commission on the Humane Treatment of Animals to study the treatment of animals. Requires that the membership include zoologists, veterinarians, and representatives from humane societies. Requires the Commission to determine if animals are caused needless pain or suffering as a result of their treatment on farms and in laboratory experimentation. Requires Commission investigation into domestic pet growth rates and the effectiveness of existing laws regarding the treatment of animals. Excludes the study of the treatment of animals occurring in connection with the exercise of any religion. Directs the Commission to report its findings to the Congress and the Commission 60 days after it submits its final report. Authorizes appropriations of $750,000 per year to carry out the provisions of this Act.
United States · United States Congress · 22 June 1978
Alcohol Fuel Act Act - Amends the Internal Revenue Code: (1) to allow the election of a deduction with respect to the amortization, based on a 60-month period, of any qualified facility producing alcohol from coal, wood, waste, or agricultural products for primary use as a motor fuel; (2) to exempt from specified excise taxes the sale of any gasoline or fuel at least ten percent of which is alcohol; and (3) to allow the tax-free withdrawal from bonded premises of distilled spirits to the extent such spirits are alcohol produced by a qualified alcohol-producing facility for primary use as motor fuel.
United States · United States Congress · 22 June 1978
Amends the Supplemental Appropriations Act, 1974, to increase to three the number of Lyndon Baines Johnson congressional interns which may be hired by each Member of the House of Representatives. Authorizes the payment of additional compensation to such interns from the clerk-hire allowance.
United States · United States Congress · 21 June 1978
Citizen Protection Act - Amends the Civil Rights Act of 1964 to require a subpena duces tecum for the search for and seizure of evidence when anyone acting under color of law has probable cause to believe evidence of a crime is located on or about premises in which the person in possession of the evidence has a reasonable expectation of privacy. Permits issuance of a search warrant instead of a subpena duces tecum only if there is probable cause to believe: (1) the person in possession of the evidence may be involved in the crime under investigation; or (2) the evidence sought to be seized would be destroyed, hidden, or moved if the subpena duces tecum procedures set out in this Act were followed. Creates a cause of action for any person aggrieved by a violation of this Act, allowing punitive damages of up to $10,000 for each violation.
United States · United States Congress · 15 June 1978
Press Protection Act - Prohibits any person acting under color of law, without a prior adversary court proceeding, from searching any place or seizing any things in the possession, custody, or control of any person engaged in the gathering or dissemination of news for the print or broadcast media, unless with a warrant issued by a court upon probable cause that such person has committed or is committing a criminal offense. Establishes a criminal fine of not more than $10,000 for violation of this Act, and creates a civil cause of action for any person aggrieved by a violation. Allows punitive damages of up to $10,000, and reasonable attorneys fees.
![Official portrait of Rep. Pattison, Edward W. [D-NY-29]](https://www.congress.gov/img/member/p000134_200.jpg)