United States · United States Congress · 18 December 1985
Rural Satellite Dish Owners Protection Act - Amends the Communications Act of 1934 to prohibit encryption of any satellite cable programming for private viewing beginning 30 days after enactment of this Act, unless: (1) the encryption complies with Federal Communications Commission standards; (2) decryption devices are available for lease or purchase by all interested persons within 60 days after request at a reasonable price relative to manufacturing and distribution costs; and (3) monthly subscription fees for such programming do not exceed fees assessed to cable subscribers within the same vicinity. Provides for the civil enforcement of this Act.
United States · United States Congress · 17 December 1985
States that the Congress declares that the primary purpose of U.S. assistance to the Republic of Korea shall be to promote the return to democracy in that country and to that end it places the highest priority on: (1) the replacement of the current climate of intimidation and abuses of human rights with dialog between the Government of the Republic of Korea and the democratic opposition; (2) restoration of the political rights of Kim Dae Jung and others; and (3) the peaceful democratic transfer of the Presidency of the Republic of Korea in 1988 elections that will be open to all who are committed to democracy.
United States · United States Congress · 10 December 1985
Expresses the sense of the Congress that the President should take measures to encourage the Government of Indonesia to: (1) allow and maintain access into East Timor for humanitarian organizations, journalists, church delegations, and human rights groups; (2) guarantee freedom of expression for the Roman Catholic Church in East Timor; (3) allow an impartial international examination of population limitation measures and the conditions that exist in areas where East Timorese have been resettled by Indonesian authorities; (4) allow qualified international observers to be present at the trials of East Timorese political prisoners; and (5) work with the U.S. and Portuguese governments to develop peace initiatives for East Timor.
United States · United States Congress · 3 December 1985
Tax Reform Act of 1985 - Enacts the Internal Revenue Code of 1985. Title I: Individual Income Tax Provisions - Subtitle A: Rate Reductions; Increase in Standard Deduction and Personal Exemptions - Sets forth income tax rates for: (1) married individuals filing joint returns and surviving spouses; (2) heads of households; (3) unmarried individuals; and (4) married individuals filing separate returns and estates and trusts. Allows for cost-of-living adjustments in such tax rates. Allows for a basic standard deduction of: (1) $4,800 for married individuals filing joint returns and surviving spouses; (2) $4,200 for heads of households; (3) $2,950 for single individuals; and (4) $2,400 for married individuals filing separate returns. Allows an additional standard deduction of $600 for the elderly or blind. Provides for cost-of-living adjustments to such amounts. Limits the amount of allowable itemized deductions to the amount in excess of $500 multiplied by the number of personal exemptions taken. Increases the personal exemption amount to $2,000. Provides for cost-of-living adjustments to such amount. Repeals the additional personal exemption for the elderly or blind. Sets forth minimum income levels for individuals required to file income tax returns. Subtitle B: Provisions Relating to Tax Credits - Increases the amount of the earned income tax credit from 11 percent to 14 percent of the first $5,000 of income. Increases the income level at which the phase-out of such credit begins. Provides for cost-of-living adjustments to such amounts. Repeals the income tax credit for contributions to candidates for public office. Subtitle C: Provisions Related to Exclusions - Limits to $5,000 the amount of employer provided dependent care assistance which may be excluded from an employee's gross income. Includes in gross income the total amount of unemployment compensation received by an individual. Excludes from gross income any amount received as a qualified scholarship grant by an individual who is a candidate for a degree at an educational institution. Provides that such exclusion shall not apply to any payments for teaching, research, or other services by the individual as a condition for receiving such a scholarship. Subtitle D: Provisions Related to Deductions - Repeals the income tax deduction for two-earner married couples. Allows miscellaneous itemized income tax deductions only to the extent that the aggregate amount of such deductions exceeds one percent of adjusted gross income. Allows individuals who do not itemize deductions an income tax deduction for charitable contributions to the extent such contributions exceed $100. Repeals the income tax deduction for adoption expenses. Subtitle E: Miscellaneous Provisions - Repeals income averaging. Allows an income tax deduction for business meals, travel, and entertainment provided such expenses have a clear business purpose. Limits to 80 percent of the amount of meal and entertainment expenses allowed as a business expense deduction. Limits such a deduction for the costs of luxury skyboxes at sporting facilities. Limits the amount of such a deduction for the costs of luxury water transportation. Revises certain rules concerning the treatment of hobby losses and the business use of a home. Allows an income tax deduction for mortgage interest and real property taxes where a parsonage allowance or a military housing allowance has been received. Sets forth reporting requirements concerning payments of refunds of State or local income taxes and payment of State or local income taxes or real or personal property taxes. Subtitle F: Effective Dates - Sets forth effective dates for provisions of this Title. Title II: Capital Income Provisions - Subtitle A: Depreciation Provisions - Repeals the accelerated cost recovery system of depreciation. Replaces such system with an incentive depreciation system for tangible property. Sets forth the method of calculating the depreciation deduction under such method. Provides for the recapture of additional depreciation amounts for certain property placed in service after December 31, 1985. Sets forth the method of calculating such additional depreciation amount. Sets forth specified transitional rules and makes specified exemptions to the incentive depreciation system for tangible property. Subtitle B: Repeal of Regular Investment Tax Credit - Repeals the regular investment tax credit as of December 31, 1985. Makes exceptions for qualified progress expenditures for periods before January 1, 1986. Makes exceptions for certain transition property. Subtitle C: Changes in Certain Rapid Amortization Provisions - Repeals the five-year amortization of trademark and trade name expenditures. Repeals the five-year amortization of pollution control facilities. Makes permanent the allowance of depreciation of expenditures to rehabilitate low-income rental housing. Increases the amount of such expenditures permitted to be taken into account. Repeals the amortization of railroad grading and tunnel bores. Extends from 1986 to 1988 the expense treatment for removal of architectural barriers to the handicapped and elderly. Subtitle D: Other Capital Related Costs - Extends until 1988 the income tax credit for increasing research activities. Reduces the amount of such credit from 25 percent to 20 percent. Revises definitions and special rules relating to such income tax credit. Reduces the percentage of costs to be taken into account for purposes of the investment tax credit for rehabilitation expenditures. Revises certain definitions and special rules relating to such tax credit. Limits the amount of funds which may be deposited in a capital construction fund established under the Merchant Marine Act, 1936. Sets forth the method of calculating such limit. Exempts from taxation any funds deposited in such an account. Specifies the tax treatment of funds withdrawn from such an account. Subtitle E: Capital Gains and Losses - Reduces the deduction for capital gains from 60 percent to 42 percent (50 percent in 1986). Repeals provisions relating to the treatment of the gain or loss incurred on the disposal of coal or domestic iron ore with a retained economic interest. Includes depletion allowances in the calculation of any recapture of amounts realized from the disposition of an interest in oil, gas, or geothermal property. Subtitle F: Provisions Relating to Oil and Gas - Disallows the expensing of intangible drilling and development costs incurred after the start of installation of production casing. Provides that such costs not expensed may be amortized over 26 months. Phases out the percentage depletion allowance for oil and gas wells and geothermal deposits. Reduces such percentage from 15 percent to: (1) 10 percent in 1986; and (2) five percent in 1987. Terminates such allowance as of 1988. Continues the percentage depletion allowance of 15 percent for stripper wells. Disallows a percentage depletion for lease bonuses. Exempts from the windfall profit tax certain crude oil exchanged for residual fuel oil. Subtitle G: Treatment of Hard Minerals - Reduces the percentage depletion allowance to five percent for certain hard minerals. Allows a higher percentage depletion for: (1) dimension or ornamental stone; and (2) minerals used in the production of animal feed or fertilizer. Allows the expensing of development and mining exploration expenditures. Provides for recapture of such amounts upon commencement of the production stage with respect to any mine. Subtitle H: Provisions Relating to Energy Credits - Extends the tax credit for renewable energy source expenditures for solar property from 1985 to 1988. Revises the method of calculating such credit for expenditures made after December 31, 1985, and before January 1, 1989. Extends the energy investment tax credit for solar energy property and geothermal property at reduced percentage rates from 1985 to 1988. Terminates the income tax credit for producing fuel from a nonconventional source. Allows such credit, on a transitional basis, for fuel which is produced from a well drilled or facility placed in service before January 1, 1986, and which is sold before 1990. Repeals the income tax credit for alcohol used as a fuel. Reduces the excise tax exemption for qualified menthanol and ethanol fuels. Subtitle I: Extension of Other Credits - Extends the targeted jobs tax credit from 1985 to 1987. Revises the method of calculating such credit. Extends the income tax credit for clinical testing expenses for certain drugs from 1987 to 1988. Title III: Corporate Provisions - Subtitle A: Corporate Rate Reductions - Sets the rate of tax for corporations at: (1) 15 percent of taxable income as does not exceed $50,000; (2) 25 percent of taxable income between $50,000 and $75,000; and (3) 36 percent of taxable income in excess of $75,000. Imposes a five percent surtax on a corporation's taxable income in excess of $100,000 up to a maximum surtax of $13,250. Increases the alternative tax rate for net capital gains of corporations to 36 percent. Sets forth transitional rules for pre-1986 net capital gains. Subtitle B: Dividend Paid Deduction; Etc. - Allows a corporation an income tax deduction for ten percent of the dividends paid by such corporation during the taxable year. Phases in such percentage over ten years. Requires each corporation to establish a qualified dividend account (QDA). Limits the amount of dividends which may be taken into account for the dividends paid deduction to the amount in the corporation's qualified dividend account. Specifies the calculation of amounts to be placed in such an account. Disallows a dividends paid deduction for any dividends paid by: (1) a regulated investment company; (2) a real estate investment trust; (3) a subchapter S corporation; (4) cooperative organizations; and (5) a Foreign Sales Corporation or a Domestic International Sales Corporation. Reduces the deduction for dividends received by a corporation. Provides for a phase-in period for such reduction. Sets forth special rules for such deduction. Repeals the partial exclusion of dividends received by individuals. Disallows a business expense deduction for expenses incurred by a corporation in connection with the redemption of its stock. Subtitle C: Limitation on Net Operating Loss Carryforwards and Excess Credit Carryforwards - Revises rules for the calculation of the limitations on net operating loss carryovers in cases of a change in ownership of more than 50 percent of value of the stock of a loss corporation. Provides that taxable income available for offset by a pre-acquisition net operating loss shall be limited to a specified rate times the value of the loss corporation's equity. Revises rules for the calculation of the limitations of certain excess tax credits in such cases. Subtitle D: Recognition of Gain and Loss on Distributions of Property in Liquidation - Revises rules concerning distributions of property in corporate liquidations to require the recognition of gain or loss to a corporation on the distribution of property in complete liquidation as if such property were sold to the distributee at its fair market value. Provides specified exceptions to such treatment if such property is distributed to the shareholders of the liquidating corporation. Title IV: Tax Shelters - Extends present at-risk limitations on losses from businesses and income-producing activities to the activity of holding real property. Provides certain exceptions for certain third-party nonrecourse financing which is secured by real property used in the activity. Limits the deduction for nonbusiness interest on investment indebtedness. Sets forth definitions and special rules concerning such limitation. Title V: Alternative Minimum Tax - Revises the method of calculating the alternative minimum tax for corporations and individuals. Revises the types of tax preferences which may be taken into account in calculating such minimum tax. Disallows certain losses in the calculation of such minimum tax. Revises definitions and sets forth special rules with respect to such minimum tax. Allows an income tax credit for prior year minimum tax liability. Title VI: Foreign Tax Provisions - Subtitle A: Foreign Tax Credit Modifications - Subjects passive income, banking and insurance income, and shipping income to separate foreign tax credit limitations. Disallows a foreign tax credit for any withholding tax imposed on interest income received or accrued by a bank, insurance company, or other financial institution to the extent that the tax exceeds the U.S. tax which is attributable to the associated interest income. Treats a specified proportion of foreign income taxes paid by a foreign corporation as being paid by a domestic corporation if that domestic corporation owns ten percent or more of the voting stock of the foreign corporation. Subtitle B: Source Rules - Treats income derived by the sale of personal property by a U.S. resident as U.S. source income. Treats similar income derived by a nonresident as foreign source income. Sets forth rules for the determination of an individual's residence. Sets forth special rules for income derived from the sale of inventory property and gain from the sale of depreciable personal property. Exempts from the U.S. source rules interest received by certain financial institutions or by similar foreign financial institutions if such interest is effectively connected with the conduct of a trade or business of such financial institution in a foreign country. Treats as U.S. source income any transportation income attributable to transportation which begins or ends in the United States. Imposes a four percent tax on the gross transportation income of nonresident aliens and foreign corporations. Sets forth rules for the allocation and apportionment of expenses to foreign source income. Treats as U.S. source income any income derived from a space or ocean activity by a U.S. resident. Treats as non-U.S. source income any income derived from a space or ocean activity by a non-U.S. resident. Defines "space or ocean activity." Specifies exceptions for transportation and oil and gas activities. Revises present regulations providing for allocation of research and expenditures for a specified two-year period. Subtitle C: Taxation of Income Earned Through Foreign Corporations - Revises the definition of foreign personal holding company income to include: (1) dividends; (2) certain property transactions; (3) commodities transactions; and (4) foreign currency gains. Excludes from such income: (1) rents and royalties; and (2) certain income received from related persons. Revises the definition of insurance income for purposes of the tax on income earned through foreign corporations. Repeals the exclusion for reinvested shipping income. Revises the definitions of controlled foreign corporations and foreign personal holding companies to provide for a test based on value and voting power. Repeals the special treatment of corporations organized in United States possessions. Revises the treatment of foreign investment company stock by repealing the 50-percent U.S. ownership requirement. Treats a passive foreign investment company as a controlled foreign corporation except in specified circumstances. Provides that only effectively connected capital gains and losses of foreign corporations shall be taken into account for purposes of the accumulated earnings tax and personal holding company provisions. Subtitle D: Special Tax Provisions for United States Persons - Revises the method of calculating the Puerto Rico and Possessions tax credit. Specifies that nothing in the Panama Canal Treaty shall be construed as exempting any citizen or resident of the United States from tax on amounts received from the Panama Canal Commission. Reduces Foreign Sales Corporations and Domestic International Sales Corporation tax preferences by specified amounts. Limits the foreign earned income exclusion to $75,000 per year per U.S. individual. Exempts from taxable income interest received on obligations of the United States by banks organized in Guam which are otherwise not treated as being a foreign corporation. Subtitle E: Treatment of Foreign Taxpayers - Imposes a 30 percent branch-level tax on effectively connected income of foreign corporations. Sets forth special rules for the treatment of deferred payments arising out of business conducted within the United States by a nonresident alien individual or a foreign corporation. Provides that gain on the sale or exchange of property whose basis is determined in whole or in part by reference to the basis of U.S. property shall be treated as gain from the sale of U.S. property. Provides for a uniform rate of the excise tax on insurance and reinsurance polices issued by foreign insurers. Requires the withholding of the excise tax on foreign insurers. Subtitle F: Foreign Currency Transactions - Treats any foreign currency gain or loss attributable to specified types of transactions as ordinary income or loss. Provides that any amount treated as ordinary income or loss shall be treated as interest income or expense. Specifies certain exceptions. Sets forth definitions and special rules for the calculation of such a gain or loss. Subtitle G: Tax Treatment of Possessions - Part I: Treatment of Guam, American Samoa, and the Northern Mariana Islands - Authorizes Guam, American Samoa, and the Northern Mariana Islands to enact revenue laws with respect to income: (1) from sources within, or effectively connected with the conduct of a trade or business within, any such possession; or (2) received or accrued by any resident of such possession. Excludes from gross income any income from sources within Guam, American Samoa, and the Northern Mariana Islands received by an individual who is a bona fide resident of such a possession. Part II: Treatment of the Virgin Islands - Provides that residents of the United States who are not bona fide residents of the Virgin Islands and who have income derived from sources within the Virgin Islands shall pay an applicable percentage of income taxes to the Virgin Islands. Sets forth the method of calculating such applicable percentage. Authorizes the Virgin Islands to impose nondiscriminatory local income taxes. Authorizes the Secretary of the Treasury to prescribe regulations for purposes of determining tax liability incurred to the Virgin Islands. Allows a possession tax credit to Virgin Islands corporations. Part III: Cover Over of Income Taxes - Requires that the net collection of taxes imposed with respect to certain individuals shall be covered into the Treasury of the specified possession of which such individual is a bona fide resident. Applies such requirement to Guam, American Samoa, the Northern Mariana Islands, and the Virgin Islands. Part IV: Effective Dates - Sets forth the effective dates of the provisions of this subtitle. Title VII: Tax-Exempt Bonds - Revises rules relating to the exclusion of interest earned on State and local government bonds. Excludes interest earned on any State or local government bonds except: (1) nonessential function bonds which are not qualified bonds; (2) arbitrage bonds; and (3) any registration-required bond which is not in registered form. Defines a "nonessential function bond" as any bond issued as part of an issue if: (1) a specified percentage or more of the proceeds of such issue are to be used to make or finance loans to persons other than governmental units; or (2) a specified percentage or more of the gross proceeds of such issue are to be used in any trade or business carried on by any person other than a governmental unit. Defines a "qualified bond" as any nonessential function bond if such bond is: (1) an exempt facility bond; (2) a qualified mortgage bond; (3) a qualified veterans' mortgage bond; (4) a qualified small issue bond; (5) a qualified hospital bond or tax-exempt organization bond; (6) a qualified student loan bond; or (7) a qualified redevelopment bond. Defines each such qualified bond. Sets the volume cap of such qualified bonds which may be issued in a calendar year at the greater of: (1) an amount equal to $175 multiplied by the State population; or (2) $200,000,000. Defines an "arbitrage bond" as any State or local bond issued as part of an issue any portion of the proceeds of which are reasonably expected to be used directly or indirectly: (1) to acquire higher yielding investments; or (2) to replace funds which are used directly or indirectly to acquire higher yielding investments. Disallows a tax exemption for any State or local bond if such bond is federally guaranteed. Sets forth definitions and special rules. Repeals provisions relating to general stock ownership corporations. Sets forth effective dates and makes exceptions for presently binding agreements and certain projects presently under construction. Sets forth transitional rules. Title VIII: Financial Institutions - Repeals the deduction for additions to a bad debt reserve made by a large bank. Defines a bank as a "large bank" if for the year the average adjusted bases for all assets of such bank exceeded $500,000,000, or such bank was a member of a parent-subsidiary controlled group where the average adjusted bases of the assets of the group exceeded $500,000,000. Requires a large bank to take into income the balance of any bad debt reserve account over a five year period unless the bank makes an election to use the cut-off method for the bad debt reserves. Allows any domestic building and loan association, any mutual savings bank or any cooperative bank without capital stock organized and operated for mutual purposes and without profit to take a deduction for a reasonable addition to a reserve for bad debt. Provides that the amount of the deduction for additions to bad debt reserves based on a percentage of taxable income shall be limited to five percent of taxable income for such year. Repeals the percentage of eligible loans method for calculating the amount of the deduction. Provides that the reserves calculated under this provision will not be treated as tax preference items. Denies financial institutions (banks, thrift institutions, and other financial institutions) a deduction for that portion of the taxpayer's interest expense which is allocated to tax-exempt obligations acquired after December 31, 1985. Provides that the disallowance of interest expenses allocated to tax-exempt obligations must be applied before the application of the rules relating to the capitalization of preproductive expenses including interest and taxes. Repeals the special treatment of face-amount certificate companies. Repeals the special rules which permit financial institutions a ten-year carryback and a five-year carryforward of net operating losses. Repeals the special provisions relating to the acquisitions of financially-troubled thrift institutions and the exclusion from income and the basis reduction requirement of FSLIC payments to such thrift institutions. Provides that no deduction shall be disallowed relating to expenses allocable to tax-exempt income for any amount paid or incurred by a taxpayer on the ground that such amount is allocated to amounts of excluded FSLIC payments. Permits qualified individuals to elect to deduct losses on deposits in qualified financial institutions as casualty losses in the year in which the amount of the loss can be reasonably estimated. Defines "qualified individual" as any individual other than the owner of one percent or more of the value of the stock of the institution in which the loss was sustained, an officer of such institution, and certain relatives and related persons to such owners and officers. Prohibits the deduction of such loss as a bad debt deduction if this election is made by the taxpayer. Title IX: Accounting Provisions - Subtitle A: General Provisions - Permits eligible small businesses to elect to use the simplified dollar-value method of pricing inventories for purposes of the LIFO method of accounting for inventories. Requires, with the use of the simplified dollar-value LIFO method of inventory accounting, that inventories be grouped into pools in accordance with the major categories of the Producer Price Index or the CPI Detailed Report. Provides that the change in inventory costs for the pool for the taxable year is based on the change in the published index for the general category to which the pool relates. Defines "eligible small business" as a small business where the average annual gross receipts of the taxpayer for the three preceding taxable years do not exceed $5,000,000. Treats all taxpayers who are component members of a controlled group as one taxpayer for purposes of determining the gross receipts of the taxpayer. Provides that the election to use the simplified dollar-value method of inventory accounting may be made without the consent of the Secretary of the Treasury. Prohibits a corporation (other than a Subchapter S corporation) or a partnership where one of the partners is a corporation (other than a Subchapter S corporation) from computing their taxable income under the cash receipts and disbursement method of accounting. Excepts from this prohibition the following: (1) farming businesses; (2) entities where the incidence of taxation falls either at the individual level or on a qualified personal service corporation; or (3) taxpayers with average annual gross receipts of $5,000,000 or less. Provides that the prohibition on using the cash method of accounting shall apply to trusts subject to tax on unrelated trade or business income. Provides that, in the case of the provision of personal services, a taxpayer using the accrual basis of accounting is not required to accrue amounts for the performance of personal services earlier than when the amounts are billed by the taxpayer and will not be required to accrue any portion of such amounts which (on the basis of experience) will not be collected. Provides that if certain installment obligations are pledged as collateral for a loan, all or a portion of the proceeds of the loan generally will be treated as a payment received on such installment obligation thereby resulting in the recognition of gain equal to the product of the net loan proceeds and the gross profit ratio applicable to that obligation. Exempts from this rule installment obligations which have been pledged where the potential deferral of gain attributable to the portion so pledged does not exceed nine months. Provides an additional exception from this rule for installment obligations that are pledged for an indebtedness with a term not exceeding 90 days, and such indebtedness is not extended or refinanced during the 45-day period beginning on the day such indebtedness is repaid. Requires income from all long-term contracts to be reported under the percentage of completion method of accounting based on the estimated total cost of completion rather than physical completion. Requires, upon completion of the contract, the taxpayer to pay interest for any underpayment of tax with respect to a taxable year in which there was such underpayment or to receive an interest payment if there was an overpayment (i.e. the "look-back" method of computing interest payments). Allows the completed contract method of accounting to be used in the case of a contract for the construction of real property that is expected to be completed within the two-year period beginning on the commencement date of the contract if performed by a taxpayer whose average annual gross receipts over the three taxable years preceeding the taxable year in which such contract is entered into do not exceed $10,000,000. Requires any taxpayer who produces real or tangible personal property to capitalize: (1) the direct costs of such production; and (2) such production's proper share of those indirect costs (including taxes) part or all of which are assignable to such production. Exempts from this requirement: (1) personal use property; (2) research and experimental expenditures; (3) development and other costs of oil and gas wells or other mineral property; and (4) property subject to the long-term method of accounting. Sets forth special rules for capitalization of expenditures for farmers and ranchers. Provides specific rules for the capitalization of interest expenses in certain instances. Repeals the reserve method for computing expense deductions arising from bad debts for all taxpayers, other than certain financial institutions. Provides that no debt will be deductible as wholly or partially worthless for tax purposes until it is charged off on the taxpayer's books. Requires the balance of any reserve for bad debts, as of the effective date of this Act, to be taken into income ratably over a five-year period. Limits the deduction for additions to a reserve account for vacation pay to the vacation pay that is paid during the taxable year or within eight and one-half months following the close of the taxable year of the employer with respect to which the vacation pay was earned by the employees. Provides that amounts of any contribution in aid of construction or any other contribution as a customer or potential customer shall be included in the income of the taxpayer. Subtitle B: Provisions Relating to Timber - Permits the amortization of certain timber preproductive expenditures ratably over a 60-month period by qualified small timber producers. Defines "qualified small timber producers" as any taxpayer engaged in the trade or business of planting, cultivating, caring for, or cutting of trees if the timberland of the taxpayer does not exceed 75,000 acres. Phases out the allowance of the 60-month amortization period for taxpayers with acreage between 50,000 and 75,000. Repeals the capital gains treatment with respect to timber royalties and cutting income except for gains reported by natural persons, an estate, or a trust all the beneficiaries of which are natural persons or estates. Requires that the gains from timber of all taxpayers where such gains are attributable to timber grown on Federal lands are to be reported as ordinary income. Provides for a three-year transition period for the tax treatment of gains from timber received by corporations. Subtitle C: Special Provisions Relating to Agriculture - Repeals the provisions allowing expenditures for fertilizer and soil conditioning to be deducted currently. Repeals the provision allowing expenditures for the clearing of land in preparation for farming to be deducted currently. Limits the soil and water conservation expenditures that may be deducted currently to amounts incurred that are consistent with a conservation plan approved by the Soil Conservation Service of the Department of Agriculture for the area in which the land is located, and, if no plan exists for the particular area, amounts expended consistent with any conservation plan of a comparable State agency. Provides that expenditures for general earth moving, draining, and/or filling of wetlands, and for preparing land for installation and/or operation of a center pivot irrigation system may not be deducted under the special expensing provisions. Requires any gain realized on the disposition of "converted wetland" or "highly erodible cropland" to be treated as ordinary income and any loss on the disposition of such property to be treated as long-term capital loss. Defines "converted wetland" and "highly erodible cropland". Permits losses of a cooperative that are attributable to one or more allocation units (including a loss that is carried over from another year) to be offset against earnings of one or more other allocation units, but only to the extent that such earnings and losses are derived from business done with or for patrons. Allows the netting of gains and losses from one or more allocation units in certain transactions in which one cooperative acquires the assets of another cooperative. Requires a cooperative that offsets earnings and losses from one or more of its allocation units to notify its patrons in writing. Sets forth certain information of the cooperative which need not be disclosed. Requires the cooperative to furnish sufficient notice information to the patrons where a determination has been made by the Secretary that the cooperative failed to give sufficient notice to the patrons. Provides that the term "patent" includes a certificate of plant variety protection issued under the Plant Variety Protection Act. Title X: Insurance Products and Companies - Part I: Policyholder Issues - Requires all amounts paid to any beneficiary of a life insurance policy at a date later than the death of the insured to be included in gross income to the extent the death benefit represents a payment made by the insurance company for the use of the beneficiary's money, i.e. the unpaid death benefit. Prohibits the deduction of a nonbusiness casualty loss covered by insurance unless the taxpayer files a timely insurance claim with respect to such loss. Provides for the exclusion from income of amounts received with respect to structured settlement agreements only to the extent that the payment on account of a claim for personal injuries are the result of physical injury or physical sickness to the claimant. Part II: Life Insurance Companies - Repeals the special life insurance company deduction which allowed life insurance companies, in computing their life insurance company taxable income, to deduct 20 percent of the income from the insurance business in arriving at their taxable income. Provides that certain tax-exempt organizations shall be exempt from tax only if no substantial part of their activities consists of providing commercial-type insurance. Excludes form the definition of "commercial-type insurance": (1) insurance provided at substantially below cost to a class of charitable recipients; (2) incidential health insurance provided by a health maintenance organization of a kind customarily provided by such organization; and (3) property or casualty insurance provided by a church or convention or association of churches for such church or convention or association of churches. Directs the Secretary to prescribe regulations which provide, for Blue Cross and Blue Shield and their affiliates, special treatment for activities with respect to high-risk individuals and small groups. Permits a life insurance company to apply its current loss from operations and its unused operation loss carryovers against the increase in its taxable income attributable to the amount distributed from its policyholders surplus account if certain conditions are met. Part III: Property and Casualty Insurance Companies - Permits a property and casualty insurance company to deduct only 80 percent of the increase in unearned premiums on outstanding business for the taxable year. Includes in income over a five-year period 20 percent of the unearned premium reserve outstanding at the end of the most recent taxable year beginning before January 1, 1986. Requires the deduction for losses incurred to be reduced by a specified portion of the insurer's tax-exempt interest and of the deductible portion of dividends received (with special rules for dividends received from affiliates). Provides that the "specified portion" of tax-exempt interest and dividends shall be ten percent for taxable years beginning after December 31, 1985, increasing to 15 percent for taxable years beginning after December 31, 1987. Provides that for property and casualty insurance companies for taxable years beginning after December 31, 1987, if there is an adjusted net gain from operation of such company for the taxable year, the amount of the taxable income for such taxable year shall not be less than the amount which is 20/36 of such net gain from operation. Provides that if there is an adjusted net loss from operation of such company for such taxable year, the amount of the net operating loss of such company for such taxable year shall not be greater than the amount which is 20/36 of such adjusted net loss from operation. Repeals the deduction for contributions to protection against loss accounts loss accounts of mutual property and casualty insurance companies. Requires the balances in any protection against loss accounts to be includible in income over the first five taxable years beginning after December 31, 1985. Sets forth required percentages of the amount in the account to be included each year. Exempts from taxation mutual and stock property and casualty insurance companies if their net written premiums or direct written premiums (whichever is greater) do not exceed $500,000. Permits mutual and stock companies with net written premiums or direct written premiums (whichever is greater) in excess of $500,000 but less than $2,000,000 to elect to be taxed only on taxable investment income. Repeals the special deduction for small companies having a gross amount of less than $1,100,000. Requires the Secretary to study the tax treatment of policyholder dividends by mutual property and casualty insurance companies. Directs that such study be submitted to specified congressional committees no later than January 1, 1987. Gives the Secretary the authority to require the furnishing of such information as may be necessary to conduct the study. Requires the Secretary to conduct a study of the treatment of loss reserves of property and casualty insurance companies, and report such findings to specified Congressional committees no later than January 1, 1987. Gives the Secretary the authority to require the furnishing of such information as may be necessary to conduct the study. Title XI: Pension and Deferred Compensation; Fringe Benefits - Subtitle A: Pensions and Deferred Compensation - Part I: Limitations on Tax-Deferred Savings - Requires an individual's deduction to an individual retirement account to be reduced by the individual's elective deferrals under a qualified cash or deferred arrangement (to the extent the deferrals are not currently included in income) and any contributions to a tax-sheltered annuity made pursuant to a salary reduction agreement, to the extent the contribution is not currently included in income. Permits the spousal individual retirement account deduction to be made either if: (1) the spouse has no compensation for the taxable year; or (2) the spouse elects to be treated for the taxable year as having no compensation. Provides that the maximum amount that an employee can elect to defer for any taxable year under all cash or deferred arrangements in which the employee participates is limited to $7,000. Provides that the $7,000 limit is determined without regard to any community property laws. Provides that the $7,000 limit is increased by certain amounts if the employee is employed by certain qualified organizations such as an educational organization, hospital, home health service agency, church, or convention or association of churches. Permits the deferral of the imposition of these limits if there is a collective bargaining agreement in effect. Reduces the dollar limitation on contributions and benefits under a defined benefit plan from $90,000 to $77,000. Reduces the dollar limitation for defined contributions plans to the lesser of $25,000 or 25 percent of the defined benefit plan dollar limit or 25 percent of the participant's compensation. Provides that if retirement benefits under a defined benefit plan begin before the age 62, the $77,000 limit on retirement benefits is reduced so that it is the actuarial equivalent of an annual benefit beginning at age 62. Provides that in no event will the dollar limit for benefits commencing at or after the age of 55 be reduced below $65,000. Provides special rules regarding the retirement benefits for airline pilots, police, and firefighters. Permits a defined benefit plan to maintain a qualified cost-of-living arrangement under which employer and employee contributions may be applied to provide cost-of-living increases to a benefit. Provides that an employee of a nongovernmental tax-exempt organization shall not be considered to be in constructive receipt of compensation deferred under an eligible deferred compensation plan maintained by a tax-exempt organization if the plan satisfies the requirements applicable to eligible deferred compensation plans of State and local governments. Provides that the maximum amount of compensation of any one individual which may be deferred during any taxable year shall not exceed $7,500. Requires deferrals under an ineligible deferred compensation plan, agreement, or arrangement maintained by a nongovernmental tax-exempt entity are to be included in an employee's gross income when the amounts are not subject to a substantial risk of forfeiture. Part II: Nondiscrimination Requirements - Alters the special nondiscrimination tests applicable to qualified cash or deferred arrangements so that the actual deferral percentage under a cash or deferred arrangement by highly compensated employees for a plan year may not exceed either; (1) 125 percent of the actual deferral percentage of all non-highly compensated employees eligible to defer under the arrangement, or (2) the lesser of 200 percent of the actual deferral percentage of all eligible nonhighly compensated employees or the actual deferral percentage for all eligible nonhighly compensated employees plus two percentage points. Permits a qualified cash or deferred arrangement to make distributions on account of the plan's termination (provided no successor plan is established) as well as on account of the employee's death, disability, separation from service, or attainment of age 59 and one-half. Makes other modifications in the withdrawal requirements. Modifies the definition of "highly compensated employee" to mean an employee who, if at any time during the year of any of the two preceding years, is a five-percent owner of the employer, received compensation from the employer in excess of $50,000, or was in the top-paid group of employees. Provides that a cash or deferred arrangement will not be treated as disqualified if the amount of any excess contributions for the plan year is distributed before the close of the following plan year. Sets forth additional nondiscrimination requirements for employer matching contributions and employee contributions for defined contribution plans. Imposes a penalty tax on an employer making excess contributions to a qualified cash or deferred arrangement which is part of a qualified employee plan. Applies nondiscrimination rules to tax-sheltered annuity programs (other than those maintained for church employees). Provides that social security benefits earned with a prior employer shall not be taken into account in determining whether a defined benefit plan is discriminatory. Provides that benefits shall be treated as accruing ratably for purposes of determining whether an employee plan is top-heavy. Allows forfeitures arising in any defined contribution plan (including a money purchase pension plan) to be either: (1) reallocated to the accounts of other participants in a nondiscriminatory fashion; and (2) used to reduce future employer contributions or administrative costs. Part III: Treatment of Distributions - Imposes a penalty tax on certain accumulations in qualified retirement plans which fail to make required distributions. Revises rules relating to the inclusion in gross income of distributions from a qualified employee plan. Allows the averaging over five years to individuals receiving lump-sum distributions after age 59 and one-half. Limits such averaging to only one such lump-sum distribution. Repeals the capital gains treatment for such distributions. Increases from ten to 15 percent the penalty tax on early withdrawals from an individual retirement account. Extends such tax to early withdrawals by individuals from any qualified employee retirement plan. Part IV: Miscellaneous Provisions - Repeals the limit carryforward applicable to profit-sharing and stock bonus plans. Extends the combined plan deduction limit to any combination of a defined benefit pension plan and a money purchase pension plan. Requires that certain social security taxes be taken into account in applying the 15-percent and 25-percent compensation deduction limits. Imposes a ten percent excise tax on excess contributions to qualified plans. Imposes a ten percent excise tax on the reversion of qualified employee plan assets to an employer. Imposes a 15 percent excise tax on excess distributions to an individual from a qualified employee plan. Reduces the $50,000 limit on loans to a participant in a qualified employee plan by an amount equal to the participant's highest outstanding loan balance during the preceding 12-month period. Specifies that deferred annuities shall be made available only to natural persons. Requires the Secretary of the Treasury to conduct a study and report to the Congress concerning the effect of the existing coverage requirements for qualified employee plans and changes which should be made in such requirements. Provides that any amendments made necessary by provisions of this Act shall not be required to be made before the first plan year beginning on or after January 1, 1988. Imposes a penalty tax on underpayments attributable to overstatements of pension liabilities. Subtitle B: Fringe Benefits - Part I: Nondiscrimination Rules for Certain Statutory Fringe Benefit Plans - Requires a highly compensated employee who is a participant in a discriminatory statutory fringe benefit plan to include in income an amount equal to the employee's employer-provided benefit under the plan. Provides that the gross income of any employee, whether or not highly compensated, includes such employee's employer-provided benefit under a statutory benefit plan, unless: (1) the plan is in writing; (2) the employees' rights under the plan are legally enforceable; and (3) the employer established the plan with the intention of maintaining it indefinitely. Establishes a uniform nondiscriminatory eligibility requirement for all statutory benefit plans by requiring that: (1) at least 90 percent of all employees are eligible to participate in the plan; and (2) the plan contains no provisions relating to eligibility to participate that discriminates in favor of highly compensated employees. Sets forth additional rules relating to statutory defined benefit plans. Requires employers to file certain informational returns if benefits are provided under a cafeteria plan or statutory fringe benefit plan which were included in the income of a highly compensated or key employee. Part II: Other Provisions - Extends for two years, from December 31, 1985, to December 31, 1987, the exclusion for educational assistance and group legal services paid for by an employer that are furnished to employees. Permits a full-time life insurance salesperson to be treated as an employee for purposes of the cafeteria plan provisions to the extent the salesperson is otherwise permitted to exclude from income the benefit elected. Subtitle C: Changes Relating to Employee Stock Ownership Plans - Repeals the employee stock ownership tax credit. Terminates after December 31, 1988, the following provisions: (1) the exclusion of interest on loans used to acquire employer securities; (2) the dividends paid deduction; (3) the nonrecognition of gain on sales of stock to employee stock ownership plans, and (4) liability for payment in case of transfer of employer securities to an employee stock ownership plan or a worker-owned cooperative. Provides the following additional requirements for employee stock ownership plans: (1) requires more rapid (10-year graded) vesting: (2) modify the employee stock ownership plan nondiscrimination rules to limit the amount of a participant's compensation that may be taken into account and the annual amount of employer contributions that may be allocated to employees who are officers, shareholders, or highly compensated; (3) expand the pass-through voting requirements applicable to employer securities held by an employee stock ownership plan; (4) permit an eligibile plan participant to direct the employee stock ownership plan trustee to diversify a portion of the participant's employee stock ownership account balance; and (5) modify the distribution and put option requirements. Amends the tax credit employee stock ownership plan distribution provisions to permit certain distributions upon plan termination. Provides a special rule for eligible worker-owned cooperatives to ensure that such organizations can comply with the requirements of tax deferrment on gain derived from sales of stock to an employee stock ownership plan or for payment of estate tax liability by an employee stock ownership plan. Title XII: Unearned Income of Certain Dependent Children; Trusts and Estates - Subtitle A: Unearned Income of Certain Minor Children - Provides that to the extent that unearned income derived from property transferred from parents (parental-source unearned income) exceeds the amount of the child's personal exemption, such income is taxed to the child at the parents' marginal tax rate. Requires earned income and nonparental-source unearned income (i.e., income derived from property that is a qualified segregated asset) to be taxed to the child at the child's marginal tax rate. Subtitle B: Taxation of Estates and Trusts and Their Beneficiaries - Provides that all trusts created by a grantor, with the exception of qualified beneficiary trusts or qualified children's trusts, that are not treated as grantor trusts must be taxed at the marginal tax rate of the grantor. Permits the grantor to allocate any of the grantor's unused tax rate bracket amounts for any year to the trusts created by him in any manner the grantor elects. Provides that the income of a qualified beneficiary trust is taxed at the top marginal tax rates of the beneficiary. Definies "qualified beneficiary trust." Provides that where all the beneficiaries of a trust are children of the grantor (called a "qualified children's trust"), any beneficiary may allocate any of his or her unused tax bracket to the trust for any year prior to the time that beneficiary reaches majority, thereby taxing the trust income at this top marginal tax rate. Entitles all trusts, in lieu of the personal exemption, a deduction of $100. Entitles an estate a deduction, in lieu of the personal exemption, of $600. Permits any unused losses and deductions in the last year of the trust or estate to be claimed by the beneficiaries succeeding to the property of the estate or trust in accordance with regulations prescribed by the Secretary. Provides that no amounts shall be included in the gross income of any beneficiary by reason of income of any trust or estate, or by reason of any distribution from a trust or estate, with certain exceptions. Provides that the grantor is treated as the owner of the trust and therefore is taxed directly on the income of the trust in the following circumstances: (1) where the grantor possesses certain prohibited administrative powers with respect to the trust; (2) where the grantor or the grantor's spouse retains the power to revoke the trust; or (3) where the grantor or grantor's spouse has the power to control the income of the trust in certain respects. Provides that a person other than the grantor is treated as the owner of a trust where that person has a power to revoke the trust or retains one of the three powers listed in the preceeding sentence. Permits the executor to elect to extend the taxable year of the decedent until the end of the decedent's normal taxable year, instead of having the decedent's final taxable year terminate on the date of death. Provides that income of a trust required to be paid by the trust pursuant to a divorce decree or separate maintenance agreement shall be allowed as a deduction to the trust and such amount shall be included in the gross income of the wife. Exempts from such inclusion and deduction amounts payable for the support of minor children. Requires gain to be recognized by the transferor where property is transferred to a trust in exchange for an interest in other trust property and the trust would be considered an investment company if it were a corporation. Allows one $20,000 exemption for purposes of the minimum tax with respect to: (1) the estate of a decedent; and (2) trusts with respect to which a decedent is the grantor. Provides for the allocation of such amount among such trusts. Provides that distributions from foreign trusts are subject to tax at the top marginal rate applicable to individuals (38 percent), unless the fiduciary of the trust elects to be subject to current taxation of the United States by being treated as a domestic trust. Subtitle C: Generation Skipping Transfers - Amends the generation-skipping transfer tax, which attempts to determine the additional gift or estate tax that would have been paid if property has been transferred directly from one generation to another, to impose a simplified tax determined at the maximum gift and estate tax rate (currently the tax rate is 55 percent). Expands the generation-skipping transfer tax to include direct generation-skipping transfers (e.g., a direct transfer from a grandparent to a grandchild) as well as transfers in which benefits are shared by beneficiaries in more than one younger generation. Provides for an exemption of transfers up to S1,000,000 per grantor from the tax. Provides additional exemptions from the tax for certain transfers that are not subject to gift tax and for direct transfers to grandchildren of the transferor if the aggregate amount of such transfers does not exceed $2,000,000 per grandchild. Defines various terms relating to generation-skipping transfers. Sets forth the methods for determining the taxable amount for various generation-skipping transactions. Sets forth various special rules and definitions. Directs the Secretary to prescribe by regulation the person who is required to make the return with respect to the generation-skipping tax and the time the return is to be filed. Title XIII: Compliance and Tax Administration - Part I: Revision of Certain Penalties, Etc. - Increases the maximum penalty from $50,000 to $100,000 for: (1) failure to file certain information returns with the IRS; (2) failure to supply a copy of that information return to the taxpayer; and (3) failure to supply taxpayer information numbers. Imposes a penalty for failure to include correct information either on an information return filed with the IRS or on the copy of that information return supplied to the taxpayer. Establishes the amount of the penalty at five dollars for each return or statement, with a maximum penalty not to exceed $20,000. Allows a waiver of these penalties if the failure is due to reasonable cause and not to willful neglect. Sets forth certain special rules with respect to the application of these penalties. Increases the penalty for failure to pay tax in specified situations from one-half of one percent per month to one percent per month. Repeals the provision allowing the offset of the failure to file a return penalty against the failure to pay tax penalty. Provides that the penalty for negligence shall apply to all taxes imposed under the Internal Revenue Code. Includes within the scope of the definition of negligence both any failure to make a reasonable attempt to comply with the provisions of the tax law as well as careless, reckless, or intentional disregard of the rules or regulations. Expands the scope of the special negligence penalty for failure to include in income interest and dividends shown on an information return to include failure to show properly on the taxpayer's return any amount that is shown on any information return. Part II: Estimated Tax Payments by Individuals - Increases from 80 percent to 90 percent the proportion of the current year's tax liability that taxpayers must make as estimated tax payments in order to avoid the estimated tax penalty. Part III: Provisions Relating to Attorneys' Fees and Exhaustion of Administrative Remedies - Extends for four years, from December 31, 1985, to December 31, 1989, the provisions providing for awards of reasonable litigation costs, including attorneys' fees and court costs, to a taxpayer who prevails over the Federal government in a tax case in any Federal court. Gives the Court in tax cases the discretion to assess all or a portion of any award against IRS employees if the Court determines that the proceeding resulted from any arbitrary or capricious act of the employee. Requires the Secretary to submit a report within 90 days after the close of each calendar year beginning after 1985 and before 1990 to the House Committee on Ways and Means and the Senate Committee on Finance that includes: (1) the number of awards made during such calendar year; (2) the number of proceedings in which claims for such awards were made by substantially prevailing parties during such calendar year; and (3) the aggregate amount payable by the United States pursuant to the awards so made during such calendar year. Authorizes the Tax Court to impose a $120 penalty on the taxpayer if the Tax Court determines that the taxpayer did not use reasonable efforts in good faith in attempting to resolve the tax case administratively with the Secretary. Requires that a joint annual report from the Secretary and the Tax Court concerning closing cases more efficiently in Tax Court inventory be submitted to the House Committee on Ways and Means and the Senate Committee on Finance. Part IV: Tax Administration Provisions - Authorizes the Secretary and the taxpayer to mutually consent to the recission of any notice of deficiency mailed to the taxpayer. Provides that where an IRS official fails either to perform a ministerial act in a timely manner or makes an error in performing a ministerial act, the IRS has the authority to abate the interest attributable to such delay. Suspends the compounding of interest on previously accrued interest, starting 30 days after a taxpayer has filed a waiver of restrictions on assessment of the underlying taxes and ending when a notice and demand is issued to the taxpayer. Prohibits the IRS from levying on any amount payable to an individual as a service-connected disability benefit. Permits the Secretary to sell up to $100,000 of personal property used in violation of the tax laws. Permits claimants to require a judicial forfeiture action by posting a $2,500 bond. Treats the use of an automobile by a special agent of the Internal Revenue Service in the same manner as use of an automobile by an officer of any other law enforcement agency for purposes of the substantiation rules for expenses or the income and wage inclusion rules. Part V: Interest Provisions - Provides that the interest rate which the Secretary must pay to the taxpayer on the overpayment of taxes must be the three-month Treasury bill rate plus two percentage points. Requires that the interest rate that taxpayers pay to the Secretary on underpayment of taxes shall be the three-month Treasury bill rate plus three percentage points. Requires the Secretary to determine the short-term Federal rate each quarter. Provides that interest is imposed on underpayment of the accumulated earnings tax from the due date (without regard to extensions) of the income tax return for the year the tax is initially imposed. Part VI: Modification of Withholding Allowances - Directs the Secretary to modify the withholding allowance schedules to reflect the new rate schedules promulgated by this Act. Repeals the authority of the IRS to issue regulations permitting employees to request decreases in withholding. Part VII: Information Reporting Provisions - Requires the reporting of real estate transactions to the IRS by the settlement attorney or other stakeholder to the transaction. Requires the head of every Federal executive agency to file an information return indicating the name, address, and taxpayer identification number of each person with which the agency enters into a contract. Requires any person required to file a return for the taxable year to include on such return the amount of interest received or accrued during the taxable year that is exempt from tax. Part VIII: Report on Return-Free System - Requires the Secretary to prepare a report on a return-free system for the Federal income tax of individuals which would include: (1) the identification of classes of individuals who would be permitted to use a return-free system; (2) how such system would be phased in; (3) what additional resources the IRS would need to carryout such a system; and (4) the type of changes to the Internal Revenue Code which would inhibit or enhance the use of such system. Part IX: Certain Diesel Fuel Taxes May Be Imposed on Sales to Retailers - Provides that the excise tax on diesel fuel for highway vehicles may be imposed on the sale to the retailer by the wholesaler (jobber) or by the manufacturer where the sale is direct to the retailer. Title XIV: Miscellaneous Provisions - Excludes from income amounts paid to the foster parent for caring for a qualified foster child in the foster parent's home. Provides that the tax relief provisions applicable with respect to Vietnam MIA's (and their spouses) that expired after 1982 are retroactively reinstated and made permanent. Imposes an excise tax of ten percent on amounts paid for U.S. television and radio broadcast rights for Olympic events. Imposes the tax on the business or government receiving the payment for the broadcast rights. Establishes a new trust fund in the Treasury, designated the "United States Olympic Trust Fund," to receive amounts equivalent to the revenues from the new ten percent excise tax. Permits the payment of amounts from the trust fund to the U.S. Olympic Committee. Provides that in the case of any tax-exempt organization, the term unrelated trade or business does not include any trade or business of such organization that consists of exchanging names and addresses of donors to (or members of) such organization with another such tax-exempt organization, or of renting donor names and addresses to another such tax-exempt organization. Provides that the term unrelated trade or business of a tax-exempt organization does not include activities of such organization relating to the distribution of low-cost articles incidental to the solicitation of charitable contributions. Permits a housing cooperative, where the cooperative charges such tenant-stockholder with a portion of the cooperative's interest and taxes in a manner that reasonably reflects the cost to the cooperative of the interest and taxes attributable to such tenant-stockholder's dwelling unit, to make an election whereby the share of the cooperative's interest and taxes that each tenant-stockholder is permitted to deduct would be the amounts that were so separately allocated and charged. Provides that certain royalties relating to computer software are not treated as personal holding company income, and therefore not subject to the additional tax on personal holding company income, if the recipient: (1) is actively engaged in the trade or business of producing, developing, or manufacturing computer software; (2) derives more than half of its income from software royalties; (3) incurs substantial trade or business expenses, or research and development expenses; and (4) distributes most of its passive income other than software royalties. Provides special rules with respect to taxpayers who are members of an affiliated group and receive royalties with respect to the licensing of computer software. Allows certain securities dealers to exclude from personal holding company income certain income received on securities or money market instruments held in inventory if the taxpayer: (1) derives at least 50 percent of its income from the active conduct of the business of dealing in securities; (2) distributes most of its passive income not derived form the business of dealing in securities; and (3) incurs substantial trade or business expenses relating to the business of dealing in securities. Amends the Social Security Act to provide 50 percent Federal matching funds to States to pay for "nonrecurring adoption expenses" relating to the adoption of a special needs child. Title XV: Technical Corrections - Subtitle A: Related to the Tax Reform Act of 1984 - Chapter 1: Amendments Related to Title I of the Act - Permits a taxpayer to elect to have the amendment of the Tax Reform Act of 1984 that defers the finance lease rules apply to any agreement entered into before March 7, 1984. Restores the year 1985 to the table of years for which the three percent telephone excise tax applies. Clarifies the rules relating to the electronic funds transfer of alcohol taxes to provide that all corporations that are members of a controlled group of corporations are treated as one taxpayer for purposes of the electronic funds transfer. Makes certain modifications of the Code to clarify the rules relating to the tax-exempt entity leasing provisions. Repeals the overlapping regulatory authority relating to high-technology equipment. Provides that any portion of a property that is owned or leased by a partnership that is treated as tax-exempt use property is ineligible for the investment tax credit. Clarifies the treatment of certain aircraft leased to foreign persons for purposes of the recapture of investment tax credit rules. Provides that thrift institutions cannot avoid the restriction on property leased to thrift institutions by the use of a partnership. Provides that the tax credit for rehabilitation expenditures is allowable on buildings leased to thrift institutions in accordance with the rules applicable to buildings leased to tax-exempt entities. Provides that the determination of whether a tax-exempt partner's share of partnership items is treated as derived from an unrelated trade or business is to be made without regard to the debt-financed income rules. Makes certain modifications in the tax treatment of certain bonds and other debt instruments. Clarifies the provisions limiting the dividends received deduction for dividends received by a corporate shareholder with respect to debt-financed portfolio stock. Disallows the dividend received deduction where the holding period requirement is not met, without regard to whether the stock has been disposed of. Applies this rule to obligations acquired after the date of enactment of this Act. Provides that if a taxpayer holds stock of a regulated investment company for six months or less, any loss on the sale or exchange of that stock is disallowed to the extent the taxpayer received exempt-interest dividends with respect to that stock. Provides an exception to this rule where the dispositions are pursuant to a periodic liquidation plan. Gives the Secretary the authority to shorten the six-month period requirement. Provides that, except to the extent provided by the Secretary, no dividends paid deduction will be allowed for purposes of the accumulated earnings tax, in the case of stock redemption by a mere holding or investment company which is not a regulated investment company. Makes certain modifications in the tax rules related to affiliated groups of corporations. Makes certain changes in the definition of a corporation's "earnings and profits." Modifies the rules relating to corporate reorganizations to provide that the transferor corporation does not recognize gain or loss on the transfer to the acquiring corporation pursuant to a plan of reorganization, without regard to whether properties received are distributed pursuant to the plan of reorganization. Makes the collapsible corporation provisions with respect to the recognition of ordinary income or loss applicable whether or not the stock has been held for six months. Makes certain changes in the rules relating to the taxation of "parachute payments" made by corporations to disqualified individuals. Modifies the partnership tax provisions with respect to: (1) retroactive allocation of cash basis items; (2) disguised sales transactions; (3) transfer partnership interests by corporations; and (4) distributions which are treated as exchanges. Modifies the like-kind exchange rules allowing for the non-recognition of gain to provide that like-kind property includes property identified as the property to be received by the taxpayer on or before (rather than only before) the date which is 45 days after the date on which the taxpayer relinquishes property. Provides that the rules regarding the treatment of two or more trusts as one trust will not apply to any trust which was irrevocable on March 1, 1984, except to the extent corpus is transferred to the trust after that date. Makes certain changes in the tax accounting rules relating to: (1) premature accrual of certain payments to insurance companies for indemnification for certain tort claims; (2) tax shelters; (3) mine reclamation and similar costs; (4) nuclear power plant decomissioning expenses; and (5) deferred payment for services. Makes modifications in the tax straddle provisions relating to: (1) subchapter S corporations; (2) amounts received for loaning securities; (3) straddles consisting of stock; and (4) losses from pre-1981 straddles. Permits the taxpayer to elect to recover the cost of low-income housing using a straight-line method of depreciation over a 15-year period (but not 18 years). Requires the mid-month convention for depreciation to be applied whenever a depreciation computation is made with respect to certain classes of real property. Provides that the cost of certain real property (which does not include low-income housing) financed by the proceeds from industrial development property cannot be recovered more rapidly than on a straight-line basis of depreciation over a fixed period of years, using a mid-month convention. Modifies the rules relating to the depreciation of property by certain transferees of recovery property. Prohibits the use of accelerated methods of depreciation with respect to films, video tapes, and sound recordings. Provides that investment credit property the reconstruction of which is completed by the taxpayer qualifies as new investment credit property. Provides that a domestic corporation which earns less than 20 percent of its gross income from U.S. sources will be treated as a U.S.-owned foreign corporation and thus will be subject to the rules maintaining the source of U.S. source income to foreign income. Requires that the source maintenance rules apply notwithstanding any contrary U.S. treaty obligations, even those entered into after the Act's date of enactment, unless the treaty clearly expresses an intent to override the rules by specific reference. Modifies the rules with respect to maintaining the character of interest income for foreign personal holding companies to insure that there will be no possibility of converting interest income into noninterest income subject to the overall foreign tax credit. Modifies the rules relating to the factoring of income with respect to certain controlled foreign corporations. Makes certain modifications in the rules concerning the repeal of the 30 percent withholding tax requirement on the gross amount of U.S. source investment income payments to foreign persons. Clarifies the rules concerning the taxation of original issue discount obligations of foreign investors. Modifies the rules respecting the disposition of U.S. real property interests by foreigners. Provides that the transfer of stock by a domestic corporation to foreign persons pursuant to a distribution of stock and securities of a controlled corporation will give rise to the recognition of gain on such a transaction, to the extent provided by regulations issued by the Secretary. Modifies the rules concerning the taxation of U.S. shareholders in foreign personal holding companies. Clarifies the treatment of certain indirect transfers of stock in a U.S. corporation for newly issued stock (or treasury stock) of a foreign corporation. Provides that the regulations that the Secretary is to prescribe pertaining to "stapled stock" entities may include regulations providing that any tax imposed on a foreign corporation that is treated as a U.S. corporation may, if that corporation does not pay the tax, be collected from the U.S. corporation to which the foreign stock is stapled or from the shareholders of the foreign corporation. Provides that the "stapled stock" rules will not apply if it is established that both the stapled foreign corporation and the U.S. corporation to which it is stapled are foreign owned. Clarifies the definition of foreign base company service income of controlled foreign corporations with respect to insurance or reinsurance services. Modifies the definition of resident alien to provide that days spent working in the United States as a teacher or trainee during four calendar years in any seven-year period do not count as days of U.S. presence for purposes of the substantial presence test for a resident alien status. Makes miscellaneous changes with respect to the compliance provisions of the Code. Provides that, for purposes of the tax benefit rule, an amount is excludible from gross income only to the extent that it does not reduce a taxpayer's income tax. Modifies provisions with respect to the tax treatment of loans with below-market interest rates by treating certain term loans as demand loans for the purpose of determining the timing of deemed interest and compensation payments. Exempts certain loans to Israel from the below-market interest rate rules. Directs the Secretary to issue regulations applying the "matching principles" with respect to deductions generally applicable to related party transactions in cases in which the person to whom the payment is to be made is not a U.S. person. Makes several adjustments in the dividends received deduction for dividends allocable to post-1984 Federal Home Loan Mortgage Corporation income. Modifies the rules relating to the maximum amount of investment tax credit and depreciation that a taxpayer may claim with respect to a passenger automobile or listed property which is required to be used in a trade or business a certain percent of the time. Chapter 2: Amendments Related to Title II of the Act - Makes certain technical corrections with respect to the taxation of life insurance companies. Chapter 3: Amendments Related to Title III of the Act - Clarifies the rule disqualifying certain foundations from the rate reduction of the excise tax imposed on the net investment income of a private foundation to provide that the rate reduction is not available if the foundation was liable for the excise tax with respect to any year in certain base period years. Chapter 4: Amendments Related to Title IV of the Act - Makes clerical and conforming amendments to the tax simplification provisions of the 1984 Act, including such items as individual estimated tax, domestic relations, at-risk rules, administrative provisions, distilled spirits, the Tax Court, and income tax credits. Chapter 5: Amendments Related to Title V of the Act - Makes technical corrections with respect to the employee benefit provisions of the 1984 Act with respect to: (1) the welfare benefit plan provisions; (2) qualified pension, profit-sharing, and stock bonus plans; (3) fringe benefit provisions; (4) employee stock ownership plans; and (5) certain miscellaneous provisions. Chapter 6: Amendments Related to Title VI of the Act - Makes certain technical corrections with respect to the tax-exempt bond provisions of the Code, such as mortgage subsidy bonds and mortgage credit certificates and private activity bonds. Chapter 7: Miscellaneous Provisions - Clarifies the tax treatment of stock transfers between 50-percent owned corporations. Makes miscellaneous technical corrections with respect to certain pension provisions. Makes technical corrections with respect to the tax provisions relating to foreign sales corporations and domestic international sales corporations. Allows a full 15-cents-a-gallon refund of excise tax on diesel fuel used in a school bus while engaged in the transportation of students and school employees. Provides that the additional six percent excise tax on certain piggyback trailers will not apply to a piggyback trailer after six years have elapsed from the date of the first retail sale of the trailer. Provides that certain helicopter uses are exempt from aviation excise taxes. Modifies the acquisition of indebtedness rules with respect to certain exempt organizations. Clarifies the provision permitting the nonrecognition of gain on the rollover of gain on the sale of a personal residence in the case of military personnel stationed outside the United States. Provides that the expanded prohibition on current deduction of costs and other losses incurred in connection with the demolition of buildings applies only to demolitions commencing after July 18, 1984, in the case of buildings other than certified historic structures. Modifies certain recordkeeping requirements of regulated investment companies. Allows individual taxpayers until April 15, 1985, and corporations until March 15, 1985, (the filing date for calendar year returns) to pay their full 1984 income tax liabilities without incurring any additions to tax on account of underpayments of estimated tax to the extent that the underpayments are attributable to changes in the law made by the Tax Reform Act of 1984. Makes certain modifications in the requirements with respect to the tax credit for the qualified clinical testing of certain drugs that are necessary to obtain the approval of the Food and Drug Administration. Clarifies the provisions as to the allowability of the tax credit for production of fuels from nonconventional sources. Repeals the requirement that the Joint Committee on Taxation submit an annual report to the Congress on proposed IRS tax refunds and credits submitted to the Committee for its review. Provides that any organization that is exempt from tax and that is engaged primarily in providing electric service on a mutual or cooperative basis is eligible to maintain a qualified cash or deferred arrangement for employees. Clarifies the definition of "newly discovered oil" for purposes of the imposition of the windfall profit tax. Provides that medicinal alcohol produced in Puerto Rico and the Virgin Islands is eligible for refunds of the tax on distilled spirits paid when the alcohol is brought into the United States. Provides that these amendments made to the Tax Reform Act of 1984, unless otherwise provided, will take effect as if included in the original legislation. Chapter 8: Effective Date - Sets forth effective date provisions. Subtitle B: Related to Other Programs Affected by the Deficit Reduction Act of 1984 - Chapter 1: Amendments Related to Social Security Act Programs - Amends the Internal Revenue Code to disqualify certain church employees from a religion based exception to the tax on self-employment income. Amends the Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to exclude certain church employee income from the computation of other net self-employment earnings, but lowers the sum required before church employee income qualifies as self-employment income. Authorizes a church to revoke its election to have services performed in its employ excluded from employment for taxation purposes. Amends title XVIII (Medicare) of the Act to make the late enrollment penalty and special enrollment period accommodations of part B (Supplemental Medical Insurance) specifically applicable to individuals who have attained age 65 and were not enrolled or reenrolled because they were covered by work-related group health insurance, or their spouse's work-related group health insurance. Makes technical corrections to other portions of the Social Security Act. Chapter 2: Amendments Related to Unemployment Compensation Program - Makes certain technical amendments to the Federal Unemployment Tax Act. Chapter 3: Amendments Related to Trade and Tariff Programs - Amends the Tariff Schedules of the United States to make technical and conforming amendments. Imposes a duty on silicon electrical steel. Amends the Tariff Act of 1930 to provide that the administering authority with respect to a countervailing duty investigation, may not accept any agreement from a foreign country to eliminate or offset a subsidy or to cease exports of subsidized merchandise unless such agreement ensures that the quantity of merchandise covered in the agreement does not exceed the quantity of such merchandise exported to the United States during the most recent representative period as determined by the administering authority. Sets forth specified provisions relating to the marking of imported articles. Provides that the performing of incidental operations (including testing, cleaning, repacking, and inspecting) on imported merchandise or merchandise of the same kind and quality does not amount to manufacture or production for drawback (refund) purposes. Amends the Trade Act of 1974 to make technical and conforming amendments. Amends the Trade and Tariff Act of 1984 to make technical and conforming amendments. Sets forth specified provisions relating to certain articles given duty-free treatment. Amends the Caribbean Basin Economic Recovery Act to make technical and conforming amendments. Subtitle C: Technical Corrections Related to the Retirement Equity Act of 1984 - Amends the Internal Revenue Code (IRC) and the Employee Retirement Income Security Act of 1974 (ERISA) to make technical corrections and other revisions related to the Retirement Equity Act of 1984 (REA). Sets forth amendments related to REA modifications of minimum participation and vesting standards for employee benefit plans. Requires class-year plans, in general, to provide that a participant's rights to benefits derived from employer contributions for any plan year are nonforfeitable not later than when such participant has performed services for the employer as of the close of each of five plan years (whether or not consecutive after the plan year for which the contributions were made), but allows for such plans to provide for forfeiture of such rights if the participant has not performed such services as of the close of each of any five consecutive plan years after such plan year (i.e. a five-year break in service). Requires, for purposes of determining whether any distribution which becomes payable to the recipient on account of the employee's separation from service is a lump sum distribution, that the balance to the credit of the employee be determined without regard to any increase in vesting which may occur if the employee is reemployed by the employer. Provides for recapture of such reduction in tax, in certain cases. Provides, under repayment requirements relating to withdrawals of mandatory contributions, that a defined contribution plan may provide that such a repayment must be made before a participant has a period of five consecutive one-year breaks in service (currently any one-year break in service). Reduces from 25 years to 21 years the age which plan participants may be required to attain for purposes of simplified employment pensions. Sets forth amendments related to REA requirements of joint and survivor annuity and preretirement survivor annuity. Provides that qualified preretirement survivor annuity rules apply in the case of death before the annuity starting date. Provides that qualified joint and survivor annuity rules apply in the case of death on or after the annuity starting date. Provides that the transferee plan rule applies only with respect to: (1) transfers made after December 31, 1984; and (2) the transferred assets if the plan separately accounts for assets and any income therefrom. Requires spousal consent for: (1) using plan assets as security for loans; and (2) changes in designations. Provides that, in the case of a participant hired after age 35, the period for giving notice to the participant of the right to waive a qualified preretirement survivor annuity is a reasonable period after the date of hire. Makes certain clerical amendments. Sets forth amendments related to special rules for assignments in divorce, etc., proceedings (which REA added to IRC and ERISA). Provides that such special rules for determining the taxability of benefits subject to a qualified domestic relations order apply only to distributions made to an alternate payee who is the spouse or the former spouse of the participant. Specifies that the 18-month period during which benefits may be deferred begins with the date on which the first payment would be required to be made under the domestic relations order if there were no deferral. Directs the Secretary of the Treasury to prescribe regulations to coordinate specified requirements (and regulations issued by the Secretary of Labor thereunder) affecting qualified domestic relations orders with the overall qualification requirements. Waives certain distribution requirements which prohibit payment of benefits before termination of employment. Sets forth amendments related to the requirement under IRC, as amended by REA, that a written explanation be given to recipients of distributions eligible for rollover. Defines "eligible rollover distribution" for purposes of such requirement. Sets forth amendments related to provisions, under ERISA as amended by REA, for the treatment of certain plan amendments as reducing benefits. Sets forth amendments related to the REA transitional rule for requirement of joint and survivor annuity and preretirement survivor annuity. Sets forth amendments related to REA provisions for treatment of certain participants who perform services on or after January 1, 1976.
United States · United States Congress · 20 November 1985
Campaign Finance Reform Act of 1985 - Amends the Federal Election Campaign Act of 1971 to: (1) increase dollar limits on personal contributions to candidates and their authorized political committees; and (2) decrease the amount one multicandidate political committee may contribute to any other political committee. Limits to $100,000 ($125,000 where two or more candidates qualify for the ballot) the aggregate amount which all multicandidate political committees may contribute to a candidate for the House of Representatives in a general or special election, including any primary election, convention, or caucus relating to such general or special election. Limits to $25,000 the aggregate amount allowed for multicandidate political committee contributions in a runoff election for the office of Representative. Establishes a formula for multicandidate political committee contributions to candidates for the Senate based upon State populations and limited to an aggregate total of $750,000. Requires multicandidate political committees which make independent expenditures for advertisements connected with a candidate's campaign to disclose such information within the advertisement. Amends the Communications Act of 1934 to require any station licensee which allows a person to broadcast material endorsing or opposing a candidate to provide the candidate opposing the endorsed candidate, or to the candidate opposed by the material, the opportunity to use the same amount of broadcasting time, without charge, during the same period of the day.
United States · United States Congress · 19 November 1985
Small Contribution Tax Credit Reform Act of 1985 - Amends the the Internal Revenue Code to repeal the income tax credit for contributions to presidential, state, and local candidates, political action committees, and newsletter fund contributions. Allows an income tax credit for congressional candidate contributions. Limits the amount of such credit to $100 for a taxable year ($200 in the case of a joint return).
United States · United States Congress · 18 November 1985
Expresses the sense of the Congress that the Taiwanese authorities should continue progress toward a democratic system, in particular by allowing the formation of opposition political parties, ending censorship and guaranteeing freedom of speech, expression, and assembly, and moving toward full representative government.
United States · United States Congress · 7 November 1985
Expresses the sense of the House of Representatives that the President should: (1) protect the human rights of Miroslav Medvid by not allowing his removal from the United States until a complete investigation can determine whether he has been accorded all rights due him as a possible defector, and until he is accorded such rights; (2) Mr. Medvid is afforded an interview on U.S. soil, with an interpreter fluent in Ukrainian, in an environment free of intimidation and without the presence of Soviet authorities so that he may freely decide whether to restate and have granted his initial asylum request; and (3) pursue an active and impartial investigation into the Medvid case in order to avoid a similar situation in the future.
United States · United States Congress · 5 November 1985
Declares that: (1) the people around the world desire a world free from the threat of war; (2) it is the hope of all citizens that the President and General Secretary Gorbachev will reach an arms control agreement which significantly cuts nuclear stockpiles and halts the arms race between the United States and the Soviet Union; and (3) in order to express this hope, all citizens are invited to light candles from dusk to dawn on November 19 and 20, 1985, while the President and Gorbachev meet in summit.
United States · United States Congress · 31 October 1985
Title I: Prevention of Currency Misalignments - Amends the Trade Act of 1974 to direct the President to proclaim for the appropriate period import restrictions whenever large and serious imbalances in external accounts require special import measures to restrict imports to: (1) deal with U.S. deficits; (2) prevent depreciation of the dollar in foreign exchange markets; or (2) cooperate with other countries in correcting a persistent misalignment of exchange rates. Authorizes the President to proclaim for the appropriate period special measures to increase imports whenever large and serious imbalances in external accounts require such measures to: (1) deal with large and persistent current account surpluses; (2) prevent significant appreciation of the dollar in foreign exchange markets; or (3) cooperate with other countries in correcting a persistent misalignment of exchange rates. (Current law requires the President to proclaim such import restrictions or measures to increase imports whenever required by basic international payments problems.) Directs the President to decide when a large and serious U.S. deficit or surplus exists except that such a deficit or surplus shall be considered to exist if a sustained deficit period or sustained surplus period occurs. Defines a sustained deficit period to mean five consecutive quarters in which U.S. deficits exceeded two and one-half percent of the gross national product. Defines a sustained surplus period to mean five consecutive quarters in which the U.S. surplus exceeded two and one-half percent of the gross national product. Authorizes the President to refrain from proclaiming any import restriction or any import-increasing measure if: (1) the deficit during the last six months is less than two and one-half percent of the gross national product or the surplus during the last six months is less than two and one-half percent of the gross national product and the International Trade Commission (ITC) makes specified findings; and (2) the President determines that the restriction is contrary to the national interest and the President informs the Congress of such determination and consults with a specified group of congressional advisers. Declares that the President should, in each year occurring after the close of a sustained deficit period or occurring after the close of a sustained surplus period, reduce large and persistent account imbalances by taking action to implement one or more of specified options. Directs the President, at the end of four consecutive quarters in which the deficit in each quarter exceeded two and one-half percent of the gross national product or in which the surplus exceeded two-and one-half percent of the gross national product, to request the International Monetary Fund (IMF) to report on: (1) the compliance of each member of the IMF with its objection under section 1 of Article IV of the IMF Articles of Agreement; and (2) its judgment regarding the impact which the degree of compliance is having, and will have on the current account imbalances. Directs the President within 120 days of each such period of four consecutive quarters to take action to convene joint consultations with the IMF Executive Director and the appropriate members of the IMF to improve the coordination among the national macroeconomic policies and taking such other action as may be necessary to restore equilibrium among national current accounts. Expresses the sense of the Congress that the President seek changes in international agreements to allow: (1) surcharges in place of quotas as balance-of-payments adjustment measures; and (2) quotas and surcharges to deal with large and persistent current account imbalances and currency misalignments. Title II: Relief from Unfair Trade Practices - Amends the Tariff Act of 1930 to establish in the ITC the Office of Unfair Trade Investigations. Sets forth the functions of such Office, including: (1) carrying out the functions assigned on October 1, 1985, to the ITC's Office of Unfair Import Investigations; and (2) monitoring the operation of U.S. and foreign trade laws, policies, and practices. Requires the Office to take certain actions if a foreign country or instrumentality is suspected of: (1) subsidizing or dumping exports to the United States; (2) engaging in unfair trading practices; or (3) violating U.S. trade rights under trade agreements. Sets forth factors to be considered by the Office. Prohibits the Office from taking action in certain cases. Requires the ITC to ensure that the Office has sufficient manpower and resources to carry out its functions. Transfers from the President to the U.S. Trade Representative (USTR) certain functions relating to enforcement of U.S. trade rights under trade agreements and response to certain foreign trade practices. Requires the USTR, if notified that a foreign act, policy, or practice is a cause of injury or threat of injury to a domestic industry or is injurious industrial targeting, to decide within 160 days which of the following actions to take: (1) suspension, withdrawal, or prevention of application of trade benefits; (2) imposition of import duties or restrictions on the production and services of such foreign entity; (3) negotiation of orderly marketing agreements; or (4) development of actions to restore or improve the international competitiveness of the injured or threatened industry. Requires the USTR, upon receiving such notification, to begin negotiations on an agreement to eliminate the injurious act, practice, or policy. Authorizes the USTR, subject to Presidential disapproval, to: (1) restrict the terms and conditions of certain service sector access authorizations; or (2) deny the issuance of such authorizations. Defines injurious industrial targeting to mean any combination of coordinated government actions that are bestowed on a specific enterprise the effect of which is to: (1) injure a U.S. industry or to retard the growth or establishment of a U.S. industry; and (2) help make it more competitive in the export of any class or kind of merchandise. Amends the Tariff Act of 1930 to include in the definition of "subsidy" (for antidumping and countervailing duty purposes) any resource input subsidy. States that a "resource input subsidy" is found to exist if: (1) (a) a product is provided or sold by a government-regulated or controlled entity within a country for input use within such country at a domestic price that is lower than the fair market value of the input product and is not freely available to U.S. producers; and (b) a product would, if sold at the fair market value, constitute a significant portion of the total cost of the manufacture or production of the merchandise in or for which the input product is used; or (2) under specified circumstances, the right to remove or extract such product is provided or sold by a government or a government-regulated or controlled entity within a country. Sets forth the method of calculation for the amount of a resource input subsidy. Defines "fair market value" and "input use". Requires injury determinations by the ITC to be made in all countervailing duty investigations relating to the existence of resource input subsidies. Makes it unlawful for any person to: (1) alter a country of origin; or (2) sell or transport any article that does not have its country of origin marking or that has had its country of origin marking altered. Sets forth penalties. Makes it unlawful to sell or distribute counterfeit goods in countries outside the United States. Authorizes the ITC to prohibit imports by any person with respect to whom there is reason to believe that such person is violating the prohibition against selling or distributing counterfeit goods in foreign countries. Requires such counterfeit goods to be seized and forfeited if they are imported into the United States. Makes it unlawful to sell or transport such goods in the United States. Sets forth penalties. Title III: Relief from Injury Caused by Import Competition - Amends the Trade Act of 1974 to transfer from the President to the USTR certain duties relating to import relief. Requires an import relief petition to include a proposal for restructuring the industry to ensure that the industry will be able to operate viably when import relief is terminated. Requires the ITC to determine in an import relief investigation whether, in addition to the matters it is currently required to determine, it is likely that adjustment assistance and other Federal assistance will, in conjunction with other import relief, effectively remedy the labor and community dislocation caused by the import injury. Provides that a decline in demand because of general recessionary conditions in the U.S. economy may not be considered a cause of injury more important than imports. Directs the ITC to complete its investigation on an import relief petition and report its findings to the USTR within six months of the filing of the petition. Directs the ITC, if it determines that serious injury or the threat of serious injury exists and that it is likely that adjustment assistance or other Federal aid will remedy the dislocation associated with that injury or threat, to: (1) find the amount of increase in, or imposition of, duty or import restriction necessary to prevent or remedy such injury or threat; (2) specify such Federal aid (other than adjustment assistance) necessary to remedy the dislocation; and (3) specify those elements of the industry restructuring proposal that is necessary to enable the industry to adjust to import competition. Directs the USTR, after receiving such a report from the ITC, to: (1) provide import relief for the industry unless the USTR determines that such relief is not in the national economic interest; (2) require expeditious consideration of petitions adjustment assistance for affected workers and firms; (3) request expeditious consideration for petitions for other Federal aid; and (4) specify which of the elements of the restructuring proposal that the industry must implement to operate viably when import relief is ended. Requires the USTR within 60 days of receiving such report to determine whether import relief will be provided and what method and amount of relief will be provided. Directs the ITC, if it determines that serious injury or the threat of serious injury exists and that it is unlikely that adjustment assistance or other Federal aid will remedy the dislocation associated with that injury or threat, to convene a Multipartite Adjustment Council to determine import relief for the industry and adjustment programs for the labor and community dislocation. Prohibits certain types of import relief (tariff increases, quotas, orderly marketing agreements) for the industry in such circumstances. Requires the ITC to report to the USTR if the ITC decides that the industry is not substantially implementing the elements of its industry restructuring plan. Authorizes the USTR to suspend, reduce, or terminate the import relief to the industry under such circumstances. Sets forth administrative provisions relating to the Multipartite Adjustment Council. Requires the Council to develop and submit to the USTR an import protection and domestic recovery plan for the industry. Sets forth information to be included in such plan. Requires the USTR to take specified actions upon approving such plan. Establishes in the Treasury an Industry Assistance and Restructuring Fund. Title IV: Adjustment Assistance for Workers and Firms - Expresses the sense of the Congress that whenever there occurs a net increase in value of imports in a year in relation to the previous year there should occur a proportionate increase in the rate at which trade adjustment assistance petitions for businesses and for workers are approved. Subtitle A: Worker Adjustment Assistance - Amends the Trade Act of 1974 to require certifying workers as eligible for trade adjustment assistance if increases in imports like or directly competitive with articles to which a worker's firm or subdivision provides essential parts or services contributed importantly to: (1) the total or partial separation of such worker or threat of such total or partial separation and to a decline in sales and production of the firm or subdivision; or (2) such separation or threat of such separation because of the relocation of the production functions of that firm or subdivision to a foreign country or instrumentality. Treats as a qualifying week for adjustment assistance purposes any week a worker receives back pay because of being laid off. Limits to seven the number of weeks that may be treated as qualifying weeks of employment in cases in which an employee is on employer authorized leave or is serving as a labor organization representative. Extends the duration of trade adjustment allowances from 52 to 104 weeks. Requires additional payments to be made as trade readjustment allowances to help an adversely affected worker to undertake training if the worker submits, before the worker exhausts all rights to that part of unemployment insurance that is regular compensation, either: (1) a bona fide application for an approved training program; or (2) an application for a training voucher. Authorizes making additional payments: (1) for up to 26 additional weeks if the training program or voucher is approved before the close of the last week for which the worker is eligible for a trade readjustment allowance; or (2) for up to 52 additional weeks if the training program or voucher is approved after the close of the last week for which the worker is eligible for a trade readjustment allowance. Requires (current law authorizes) the Secretary of Labor to approve job training if the worker meets specified requirements. Requires the costs of the training to be paid from the next appropriation of funds if the funds have not been appropriated at the time the training is entered into. Defines "reasonable expectation of employment" for purposes of determining if training should be approved. Sets forth the method of determining the amount that employers should be reimbursed for providing training. Authorizes workers eligible for training to elect to obtain training through the use of training vouchers. Directs the Secretary of Labor to issue a voucher if the Secretary: (1) approves the training course for which the worker applies; and (2) finds that suitable employment for the worker is not available, the worker is not already qualified for the job for which training is sought, and there is a reasonable expectation of employment after completion of the training. Sets forth specified conditions which the provider of the training must meet in order to redeem the voucher. Requires each State agency that is providing adversely affected workers with testing, counseling, training, and placement services to: (1) advise each adversely affected worker to apply for training under the trade adjustment assistance program or to begin a search for appropriate training under the voucher system at the time the worker applies for trade readjustment allowances; and (2) interview the adversely affected worker within 60 days on suitable training opportunities available under the trade adjustment assistance program. Subtitle B: Firm Adjustment Assistance - Requires certifying a firm as eligible for trade adjustment assistance if: (1) certain conditions are met and if sales or production, or both, of an article that accounted for at least 25 percent of the firm's total production or sales during the 12-month period preceding the most recent 12-month period for which data are available have decreased absolutely; or (2) increases in imports of articles like or directly competitive with a critical product line of the firm resulting from targeting by one or more foreign countries, the firm is threatened with the idling of its facilities, with unprofitability, and with underemployment or unemployment of a significant number or proportion of its workers, and increases in imports contributed importantly to those threats. Defines "targeting" to mean the policy of a country that selectively supports the development of an industry to enhance its competitiveness in domestic or export markets. Deletes the requirement that in order to qualify for adjustment assistance a firm not have access to financing through the private capital market. Deletes the provision authorizing assistance to firms in preparing the firms' adjustment proposals. Authorizes the Secretary of Commerce (the Secretary) to make grants: (1) to certain industry organizations to assist them in designing and managing trade adjustment strategies; and (2) to private individuals, firms, or institutions to assist firms that have been certified as eligible for adjustment assistance. Limits the amount that may be allotted for such grants. Prohibits providing a loan in excess of $500,000 to a firm under the adjustment assistance provisions if the firm can obtain loan funds from private sources using the adjustment assistance guarantee loan assistance loan authority. Deletes the provision that prohibited financial assistance to a firm through the adjustment assistance authority unless the funds are not available from the firm's own resources. Sets forth a method of determining the interest rate on each loan made through the adjustment assistance provisions. Prohibits the Secretary from guaranteeing any loan if the interest rate is determined to be excessive (currently, if it is determined to be excessive when compared with other loans bearing Federal guarantees). Prohibits the Secretary from making a loan or guaranteeing a loan having a maturity in excess of 25 years or the weighted average useful life of its collateral, except that the Secretary may make or guarantee a loan having a maturity of up to five years. Requires the Secretary, in making guarantees or loans in excess of $150,000, to give priority to firms that are small within the meaning of the Small Business Act. Prohibits any adjustment assistance loan guarantee from being made for an amount that exceeds 90 percent of the outstanding balance on the portion. Declares that the validity of the guarantee shall be incontestable except for fraud or misrepresentation of any party who purchases, as an authorized secondary market investor, all or part of the guaranteed portion of such loan. Increases the total maximum amount of adjustment assistance loan guarantees that may be outstanding at any time. Deletes the provision that prohibits granting financial assistance to a firm unless the owners, partners, or officers of the firm bind themselves to avoid certain conflicts-of-interest. Requires all repayments of loans, interest payments, and other receipts from financial aid to firms to be paid into a separate account administered by the International Trade Administration. Subtitle C: Uniform Additional Duty - Directs the President to undertake negotiations to change the General Agreement on Tariffs and Trade (GATT) to allow any country to impose a small uniform duty on all imports to fund adjustment assistance programs for workers and firms of that country. Imposes on all imports into the United States a duty at a uniform rate determined by the President: (1) to be in accordance with the GATT; and (2) to be sufficient to fund adjustment assistance programs. Subtitle D: Effective Dates - Sets forth the effective dates for the changes made by this title. Title V: CIF Basis of Appraisement - Amends the Tariff Act of 1930 to require that in addition to the bases currently required by law imports shall be appraised on the basis of the CIF costs (the costs and charges incurred by the buyer for the transportation, insurance, loading, and handling incident to shipment of the merchandise from the exporting country to the place of importation in the United States). Provides for adjusting the transaction value of merchandise based on significant differences between the CIF costs for the imported goods and for the identical or similar goods in question. Includes the CIF costs in determining the value of imports. Expresses the sense of the Congress that the revenues that accrue from the amendments made by this title be applied to ensure that the annual staffing levels of the Customs Service are not less than a specified level for FY 1986.
United States · United States Congress · 24 October 1985
Joint Chiefs of Staff Reorganization Act of 1985 - Revises Federal provisions concerning the composition and function of the Joint Chiefs of Staff (JCS) to define the Chairman of JCS as the principal military advisor to the President, the National Security Council, and the Secretary of Defense. Authorizes a member of JCS other than the Chairman to offer, to the Secretary of Defense and then to the President, a separate opinion in disagreement with that of the Chairman concerning military advice given. Directs that the Chairman of JCS shall supervise the commanders of the combatant commands and act as their spokesman. Extends the term of the Chairman of JCS from two to four years. Establishes the position of Deputy Chairman of JCS. Prohibits the Deputy Chairman and the Chairman from being a member of the same military branch, unless the Secretary of Defense waives such prohibition for a limited period. Sets the term of the Deputy Chairman at four years. Requires the Deputy Chairman to perform such duties as delegated by the Chairman with the approval of the Secretary of Defense. Directs the Deputy Chairman to act as Chairman if the latter position is vacated for any reason. Directs the Deputy Chairman to act as director of the Joint Staff, which performs such duties as the Chairman prescribes. Eliminates any maximum number of officers on the Joint Staff. Provides that the four-year term of a member of the Joint Staff may be extended with the approval of the Secretary of Defense. Directs the Secretary to ensure that the Joint Staff is independently organized and operated in order to provide for the unified strategic direction of the combatant forces and their operation and integration into an efficient team of land, naval, and air forces. Requires the Chairman of the Joint Chiefs of Staff to submit an evaluation to the President of any person for appointment to a grade above major general or rear admiral. Requires such evaluation to consider the performance of that officer as a member of the Joint Staff and in other assignments involving joint military experiences. Requires such evaluation to be submitted to the President at the same time as the submission of the recommendation for the appointment. Directs the Chairman or the Deputy Chairman of JCS to attend all meetings of the National Security Council and participate fully in its deliberations. Directs the Secretary of Defense, no later than six months after the enactment of this Act, to report to the Congress on plans for further changes in the administration of the military high commands of each of the armed forces. Outlines proposals to be developed in such report.
United States · United States Congress · 16 October 1985
Trade Equity and Growth Act of 1985 - Declares that achievement of an orderly movement to lower and stable exchange rates for the dollar is a primary objective of U.S. economic policy. Directs the President to convene an international conference on the international monetary system to review the present system of floating exchange rates and to develop a consensus on reform of that system to provide for the long term exchange rate stability necessary for a strengthened world trade and financial system. Sets forth proposed reforms for study at such conference. Requires the President to report annually to the Congress on the progress made toward: (1) reducing the value of the dollar and stabilizing it on international markets through short term actions; and (2) adopting long-term reform of the system that will prevent future instability in international exchange rates. Prohibits the President from: (1) commencing multilateral negotiations under the General Agreement on Tariffs and Trade on reducing or eliminating tariffs and non-tariff barriers to trade until the conference is convened; or (2) concluding any trade agreement resulting from such nogotiations until the Congress receives its first annual report on progress in reforming the international monetary system. Directs the Secretary of the Treasury to: (1) report to the Congress, within 30 days of enactment of this Act, on the range of dollar exchange values that must be obtained if equilibrium in the current account deficits of the United States is to be restored by 1990; and (2) develop and implement mechanisms to achieve such equilibrium. Requires the Secretary to report on a quarterly basis to the Congress on developing and implementing such mechanisms.
United States · United States Congress · 3 October 1985
Strategic Capital Reserve Act of 1985 - Establishes in the Treasury a Strategic Capital Reserve (Reserve). Makes such reserve available to the Board of Governors of the Federal Reserve System and the Secretary of the Treasury for purchases and sales of foreign currencies. Requires the Board and the Secretary to purchase foreign currencies, in a specified amount, during any fiscal quarter when: (1) the current account deficit has exceeded one and one-half percent of the gross national product for the most recent four consecutive quarters; and (2) the trade-weighted exchange rate of the dollar is 15 percent or more above the equilibrium rate (that rate which would be required to bring the current account into balance). Authorizes the Board and the Secretary to sell currencies from the Reserve in order to prevent sudden and disruptive drops in the value of the dollar or to calm disorderly markets. Provides that such authority may not be exercised to counteract or offset gradual, orderly declines in the value of the dollar resulting from purchases of foreign currencies. Requires the Board to disregard any purchase of currency authorized under this Act in the formulation and conduct of monetary policy. Requires the Board and the Secretary to consult at least quarterly with the central banks of the Federal Republic of Germany, Japan, the United Kingdom, and France in order to coordinate foreign exchange operations. Requires the Board and the Secretary to report annually to the Congress on the impact of currency transactions under this Act on foreign exchange markets. Requires the President to enter into negotiations with the governments of the Group of Ten countries to establish an international financial commission to carry out a study and report to each of the Group of Ten countries on measures to reduce capital flow imbalances and volitility in capital flows caused by the macro-economic policies of major trading countries.
United States · United States Congress · 2 October 1985
Amends the Agricultural Marketing Act of 1946 to require the Secretary of Agriculture to make nutritional content a criterion in agricultural product classification.
United States · United States Congress · 1 October 1985
Social Security Budget and Administrative Reorganization Act of 1985 - Title I: Establishment of the Social Security Administration - Amends title VII (Administration) of the Social Security Act to establish as an independent executive agency a Social Security Administration, headed by a Social Security Board. Provides that it shall be the duty of the Administration to administer the programs established by titles II (Old Age, Survivors and Disability Insurance) and XVI (Supplemental Security Income) of the Social Security Act. Requires the Board to study and make recommendations as to the most effective methods of providing economic security through social insurance and as to legislation and matters of administrative policy. Establishes in the Administration: (1) a Commissioner of Social Security; (2) a Deputy Commissioner of Social Security; (3) a General Counsel; (4) an Inspector General; and (5) an Office of the Beneficiary Ombudsman, to be headed by a Beneficiary Ombudsman who shall represent the interests of beneficiaries under the Old Age, Survivors and Disability Insurance program and the Supplemental Security Income Program within the Administration. Requires the annual report of the Board to include a description of the activities of the Beneficiary Ombudsman. Requires the Board to make annual budgetary recommendations relating to the Administration. Requires that appropriations requests by the Administration for staffing and personnel be based upon a comprehensive workforce plan as established by the Board. Provides for the apportionment of administrative costs. Requires the annual report of the Board to include a section reflecting the use of budget authority provided to the Administration. Requires that authority for automated data processing procurement and facilities construction be provided in the form of contract authority covering the total cost of such acquisitions. Makes amounts needed for the liquidation of contract authority so provided available from the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to the extent that such amounts are not needed to meet current obligations for benefit payments. Requires the Board and the Director of the Office of Personnel Management to implement demonstration projects relating to personnel matters. Directs the Board and the Administrator of General Services to implement such projects relating to delegations from the Administrator. Specifies the authorities which are to be delegated to the Board from the Administrator and the Director. Requires the Comptroller General to report to specified congressional committees concerning such projects, including an evaluation of the Board's readiness to assume full and permanent authority. Requires the Board to cause a seal of office to be made and judicial notice taken thereof. Provides for the transfer to the Administration of all functions carried out by the Secretary of Health and Human Services with respect to the programs and activities to be carried out by the Administration under this Act. Abolishes the position of Commissioner of Social Security in the Department of Health and Human Services. Sets forth effective date and transitional rule provisions. Title II: Conforming Amendments and Rules of Construction - Requires the Secretary and the Board to report to Congress within 120 days after the beginning of each regular session on their administration under this Act. Requires the Secretary to study and make recommendations on the most effective methods of providing economic security and on the administrative policy for the programs which he or she administers. Directs the Board to appoint, quadrennially, an Advisory Council on the Old-Age, Survivors, and Disability Insurance program and an Advisory Council on Health and Supplementary Medical Insurance to review the relation of the trust funds supporting the Old-Age, Survivors and Disability Insurance program and the Medicare program and the long-term commitments of those programs. Requires each council to submit a report to the Board for transmittal to the Congress and the Board of Trustees of each Trust Fund. Sets forth the effective dates of this title. Title III: Budgetary Treatment of Old-Age, Survivors, and Disability Insurance Program - Provides for off-budget treatment of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund beginning with FY 1987.
United States · United States Congress · 26 September 1985
Simultaneous Nuclear Test-Ban Act - Expresses the sense of the Congress that the President, before January 1, 1986, should declare that the United States will stop testing nuclear warheads and will invite the Soviet Union to meet with the United States to enter into negotiations for the conclusion of a Comprehensive Test Ban Treaty at the earliest possible date. Declares that the United States should continue the cessation of the testing of nuclear warheads so long as the Soviet Union refrains from the testing of nuclear warheads and substantive Comprehensive Test Ban Treaty negotiations are in progress. Expresses the sense of the Congress that during such cessation the President should seek resumption of the comprehensive test ban talks between the United States, Great Britain, and the Soviet Union. Prohibits the United States from obligating or spending any money for testing nuclear warheads during the six-month period beginning on January 1, 1986, if the President does not declare such a cessation of nuclear testing. Authorizes such spending if the President certifies to the Congress that the Soviet Union on or after January 1, 1986, tested a nuclear warhead. Requires the President to include in any such certification: (1) an unclassified report summarizing the basis for the certification; and (2) a classified report describing the Soviet activities that are the basis for the certification. Requires the President to report annually to the Congress on: (1) the progress in nuclear arms control negotiations with the Soviet Union; and (2) whether the President believes that continuation of the cessation of nuclear testing is in the U.S. national security interest.
United States · United States Congress · 23 July 1985
Amends the Foreign Assistance Act of 1961 to direct the Overseas Private Investment Corporation (OPIC), in determining whether to provide insurance, financing, or reinsurance for a project, to take into account whether or not the country in which the project would be located has laws that extend international worker rights to its workers and whether or not such laws are being enforced. Directs OPIC to undertake to refuse to insure, reinsure, guarantee, or finance any investment in any country that has not adopted laws that extend internationally recognized worker rights to its workers or does not enforce such laws. Requires the OPIC Board of Directors to hold at least one public hearing each year on proposed projects.
United States · United States Congress · 18 July 1985
Authorizes the President, on behalf of the Congress, to present a gold medal to Aaron Copland in recognition of his contributions to American musical composition. Authorizes the Secretary of the Treasury to provide for the sale of bronze duplicates of the medal. Authorizes appropriations.
United States · United States Congress · 17 July 1985
Electric Utility Tax Reform Act of 1985 - Amends the Internal Revenue Code to allow the Federal Energy Regulatory Commission and State regulatory authorities to adopt a least system cost plan for regulated public utilities and to establish a rate schedule for such utilities which provides for ratemaking treatment of the investment tax credit and the tax deduction for accelerated cost recovery in such manner as the State regulatory authority determines will further the purpose of such plan. Defines "least system cost plan" as a plan which provides for meeting demand for electric energy services under which each measure to be implemented is forecast: (1) to be reliable and available within the time it is needed; and (2) to meet or reduce the electric power demand at an estimated incremental system cost no greater than that of the least-cost similarly reliable and available alternative measure or resource.
United States · United States Congress · 10 July 1985
Trade Adjustment Assistance Renewal Act of 1985 - Expresses the sense of the Congress that whenever there occurs a net increase in value of imports in a year in relation to the previous year there should occur a proportionate increase in the rate at which trade adjustment assistance petitions for businesses and for workers are approved. Title I: Worker Adjustment Assistance - Amends the Trade Act of 1974 to require certifying workers as eligible for trade adjustment assistance if increases in imports like or directly competitive with articles to which a worker's firm or subdivision provides essential parts or services contributed importantly to: (1) the total or partial separation of such worker or threat of such total or partial separation and to a decline in sales and production of the firm or subdivision; or (2) such separation or threat of such separation because of the relocation of the production functions of that firm or subdivision to a foreign country or instrumentality. Treats as a qualifying week for adjustment assistance purposes any week a worker receives back pay because of being laid off. Limits to seven the number of weeks that may be treated as qualifying weeks of employment in cases in which an employee is on employer authorized leave or is serving as a labor organization representative. Extends the duration of trade adjustment allowances from 52 to 104 weeks. Requires additional payments to be made as trade readjustment allowances to help an adversely affected worker to undertake training if the worker submits, before the worker exhausts all rights to that part of unemployment insurance that is regular compensation, either: (1) a bona fide application for an approved training program; or (2) an application for a training voucher. Authorizes making additional payments: (1) for up to 26 additional weeks if the training program or voucher is approved before the close of the last week for which the worker is eligible for a trade readjustment allowance; or (2) for up to 52 additional weeks if the training program or voucher is approved after the close of the last week for which the worker is eligible for a trade readjustment allowance. Requires (current law authorizes) the Secretary of Labor to approve job training if the worker meets specified requirements. Requires the costs of the training to be paid from the next appropriation of funds if the funds have not been appropriated at the time the training is entered into. Defines "reasonable expectation of employment" for purposes of determining if training should be approved. Sets forth the method of determining the amount that employers should be reimbursed for providing training. Authorizes workers eligible for training to elect to obtain training through the use of training vouchers. Directs the Secretary of Labor to issue a voucher if the Secretary: (1) approves the training course for which the worker applies; and (2) finds that suitable employment for the worker is not available, the worker is not already qualified for the job for which training is sought, and there is a reasonable expectation of employment after completion of the training. Sets forth specified conditions which the provider of the training must meet in order to redeem the voucher. Requires each State agency that is providing adversely affected workers with testing, counseling, training, and placement services to: (1) advise each adversely affected worker to apply for training under the trade adjustment assistance program or to begin a search for appropriate training under the voucher system at the time the worker applies for trade readjustment allowances; and (2) interview the adversely affected worker within 60 days on suitable training opportunities available under the trade adjustment assistance program. Establishes in the Treasury a Special Account for Adjustment Assistance which shall be available to carry out trade adjustment assistance programs for workers and for firms. Makes appropriations for such Account. Requires the Secretary of the Treasury to report to the Congress annually on the operation and status of such Account. Title II: Firm Adjustment Assistance - Requires certifying a firm as eligible for trade adjustment assistance if: (1) certain conditions are met and if sales or production, or both, of an article that accounted for at least 25 percent of the firm's total production or sales during the 12-month period preceding the most recent 12-month period for which data are available have decreased absolutely; or (2) increases in imports of articles like or directly competitive with a critical product line of the firm resulting from targeting by one or more foreign countries, the firm is threatened with the idling of its facilities, with unprofitability, and with underemployment or unemployment of a significant number or proportion of its workers, and increases in imports contributed importantly to those threats. Defines "targeting" to mean the policy of a country that selectively supports the development of an industry to enhance its competitiveness in domestic or export markets. Deletes the requirement that in order to qualify for adjustment assistance a firm not have access to financing through the private capital market. Deletes the provision authorizing assistance to firms in preparing the firms' adjustment proposals. Authorizes the Secretary of Commerce (the Secretary) to make grants: (1) to certain industry organizations to assist them in designing and managing trade adjustment strategies; and (2) to private individuals, firms, or institutions to assist firms that have been certified as eligible for adjustment assistance. Limits the amount that may be allotted for such grants. Prohibits providing a loan in excess of $500,000 to a firm under the adjustment assistance provisions if the firm can obtain loan funds from private sources using the adjustment assistance guarantee loan assistance loan authority. Deletes the provision that prohibited financial assistance to a firm through the adjustment assistance authority unless the funds are not available from the firm's own resources. Sets forth a method of determining the interest rate on each loan made through the adjustment assistance provisions. Prohibits the Secretary from guaranteeing any loan if the interest rate is determined to be excessive (currently, if it is determined to be excessive when compared with other loans bearing Federal guarantees). Prohibits the Secretary from making or guaranteeing a loan having a maturity in excess of 25 years or the weighted average useful life of its collateral, except that the Secretary may make or guarantee a loan having a maturity of up to five years. Requires the Secretary, in making guarantees or loans in excess of $150,000, to give priority to firms that are small within the meaning of the Small Business Act. Prohibits any adjustment assistance loan guarantee from being made for an amount that exceeds 90 percent of the outstanding balance on the portion. Declares that the validity of the guarantee shall be incontestable except for fraud or misrepresentation of any party who purchases, as an authorized secondary market investor, all or part of the guaranteed portion of such loan. Increases the total maximum amount of adjustment assistance loan guarantees that may be outstanding at any time. Deletes the provision that prohibits granting financial assistance to a firm unless the owners, partners, or officers of the firm bind themselves to avoid certain conflicts-of-interest. Requires all repayments of loans, interest payments, and other receipts from financial aid to firms to be paid into a separate account administered by the International Trade Administration. Requires the Secretary, whenever the International Trade Commission determines that increased imports are a substantial cause of serious injury or threat of injury to an industry, to: (1) require that the industry prepare an adjustment plan to enable it to adjust to changing economic conditions; (2) initiate and make available full information to the firms in such industry about programs which may facilitate the orderly adjustment to import competition of such firms; and (3) provide assistance in the preparation and processing of petitions and applications of such firms for program benefits. Sets a deadline for submission of such plan. Extends adjustment assistance programs for workers and firms until September 30, 1989. Title III: Effective Dates - Sets forth effective dates.
United States · United States Congress · 27 June 1985
Community and Family Living Amendments of 1985 - Amends title XIX (Medicaid) of the Social Security Act to require a State plan to provide a severely disabled individual who is entitled to medical assistance and who is residing in a family home or community living facility with an array of community and family support services which will provide for the health, safety, and effective habilitation or rehabilitation of such individual. Includes community and family support services for severely disabled individuals as "medical assistance" under Medicaid. Permits the inclusion of such services as medical assistance only if: (1) such services are provided to a severely disabled individual residing in a family home or in a community living facility; (2) such services are provided in accordance with an individually written habilitation or rehabilitation plan; and (3) the total amount of funds spent by the State from non-Federal funds for such services equals at least a specified base amount. Specifies services included and excluded as community and family living services. Requires a State, in order to receive payment for community or family support services provided, to: (1) enter into a community and family living implementation agreement with the Secretary of Health and Human Services; and (2) submit required reports to the Secretary. Requires a community and family living implementation agreement to include, among others, the following provisions: (1) community living facilities will not be unduly concentrated in any residential area; (2) all the staff of each facility must have appropriate training; (3) parents of the severely disabled will have training available; (4) case management; (5) an individual will reside as close to his or her family as possible; (6) hearing procedures for individuals who feel they have been inappropriately placed; and (7) suitable State supplementary payments as authorized under title XVI (Supplemental Security Income) of the Social Security Act. Requires such agreement to include other specified provisions with respect to severely disabled individuals living in residential facilities which are not family homes or community living facilities. Requires the agreement to include descriptions of methods to be used to achieve the following objectives: (1) to advise severely disabled individuals of alternative arrangements and services available to them, of their right to choose providers, and of their right to a fair hearing; (2) to assure fair and equitable provisions to protect the interests of public employees who will be affected by the transfer of severely disabled individuals from public institutions to community or family living facilities under the agreement; (3) to assure application of fair employment standards and equitable compensation to workers in facilities offering care and services for which payments are made under this Act; and (4) to assure timely submission of any reports required by the Secretary; and (5) to assure opportunities for participation by interested citizens in the development of the implementation plan or agreement. Sets forth provisions providing for: (1) auditing a State's compliance with this Act; (2) noncompliance; and (3) review by the Comptroller General. Includes, under Medicaid, within the definition of "intermediate care facilities" services in an institution for mentally retarded persons or persons with related conditions if: (1) the individual needs of each newly admitted individual are ascertained by an interdisciplinary team within 30 days; (2) the institution, if not operated by the State, has a written agreement with an appropriate State agency to cooperate in the implementation of the agreement. Limits, effective FY 2000, the amounts payable under Medicaid to any State for skilled nursing facility services and intermediate care facility services furnished to severely disabled individuals under age 65 in facilities having not more than 15 beds. Provides that such limitations shall not apply, if: (1) payments are for services for individuals in a facility which meets the size and location requirements for a community living facility; (2) payments are for services for individuals in a facility which was in operation on September 30, 1985, which has not increased the number of beds since September 30, 1985, and which has no more than 15 beds; (3) payments are for services for individuals in a cluster home; or (4) payments are for necessary therapeutic services which are not available in a family home or community living facility in the States. Reduces, effective FY 1988, the Federal medical assistance percentage for skilled nursing facility services and intermediate care facility services furnished to any severely disabled individual under age 65. Requires a State, in order to receive any payments for furnishing community and family support services, to have in effect a system to protect and advocate the rights of eligible severely disabled individuals which is in addition to any provided by the Federal Government as of September 1985. Permits an individual injured or adversely affected or aggrieved by a violation of the Community and Family Living Amendments of 1985 to bring an action to enjoin such violation. Requires a State's Medicaid plan to provide for the payment of community and family support services for severely disabled individuals through the use of rates which are reasonable and adequate to assure the provision of services of adequate quality. Permits a State to provide for the eligibility of any severely disabled individual for community and family support services if such individual spends at least five percent of his or her adjusted gross income for necessary medical care and for community and family support services. Provides that whenever an individual is receiving benefits under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act on the basis of a disability which began before such individual attained the age of 22, and but for those benefits would be eligible under title XVI (Supplemental Security Income) of such Act for either SSI or State supplementary payments then such individual shall be deemed, for Medicaid purposes only, to be receiving SSI or State supplementary payments. Provides for the Medicaid eligibility of a severely disabled individual under age 65 who would otherwise be denied assistance because of earnings if termination of such eligibility would seriously inhibit the individual's ability to continue employment or effectively limit the individual's ability to live in a family home or community living facility and such earnings are not sufficient to provide benefits equivalent to SSI and Medicaid. Directs the Secretary to: (1) make assessments, conduct a study, and report to the Congress; and (2) issue regulations. Sets forth the effective date.
United States · United States Congress · 12 June 1985
Fair Insurance Coverage Act - Prohibits any insurer from discriminating in an insurance contract against any person because of blindness. Includes within the prohibition refusing to make or negotiate a contract for insurance or giving different treatment with respect to terms, conditions, rates, or benefits because of blindness. Establishes a preference for State actions prior to judicial enforcement under this Act. Authorizes any aggrieved person, in the absence of State actions or jurisdiction, to bring an action under this Act for individual relief. Authorizes the Attorney General of the United States to bring an action for injunctive relief whenever there is reasonable cause to believe a person is engaged in a pattern or practice of discrimination or when an individual is aggrieved and an issue of general public importance is raised. Grants the Federal district courts jurisdiction of such actions regardless of the amount in controversy. Allows a court to order monetary, equitable, or other appropriate relief, including punitive damages.
United States · United States Congress · 21 May 1985
Product Liability Act of 1985 - Sets forth uniform national standards for products liability cases. Preempts inconsistent Federal and State laws. Permits action under this Act to be brought in State court or Federal court if the United States is a party or diversity jurisdiction exists. Prohibits recovery for other than commercial loss or damage to the product itself, except as otherwise provided in this Act. Sets forth basic standards of responsibility for manufacturers and product sellers other than manufacturers including wholesalers, distributors, retailers, lessors, packagers, and repairers. Establishes rules relating to proof in products liability cases with respect to Federal Government standards and contract specifications. Prohibits admission of postmanufacturing improvements except for the purpose of impeaching a witness for the product seller who denies the feasibility of such improvements. Allows a manufacturer to introduce certain precautionary measures. Provides that all product liability actions shall be governed by the principles of comparative responsibility. Specifies the manner in which damages are to be apportioned. Provides that comparative damages apply only to compensatory damages. Requires the reduction of any damage award by the amount of workers' compensation benefits which are paid. Makes a product seller who acted with flagrant indifference to consumer safety, where the act was an extreme departure from accepted practice, liable for punitive damages. Establishes a two-year statute of limitations and a ten-year statute of repose.
United States · United States Congress · 16 May 1985
Children's Protection Act of 1985 - Amends the Racketeer Influenced and Corrupt Organizations Statute to extend the Act's coverage to the sexual exploitation of children. Authorizes a civil suit for treble damages for any person injured personally or in his or her business or property. Amends the Federal criminal code with regard to the sexual exploitation of children. Makes it a Federal offense to print or publish any statement or advertisement to receive, buy, produce, display, photograph, film, print or publish any statement or advertisement to receive, buy, produce, display, photograph, film, print or record any visual depiction of a minor engaging in sexually explicit conduct. Prohibits offering participation in sexually explicit conduct with a minor. Lists factors that may be considered in determining whether a person engaged in such conduct has attained the age of 18. Provides that the Government need not establish the identify of the alleged minor in a prosecution under this section. Increases the penalties for offenses involving the transportation of minors for prohibited sexual conduct.
United States · United States Congress · 8 May 1985
Fair Share Minimum Tax Act of 1985 - Amends the Internal Revenue Code to provide for a single alternative minimum tax for both individuals and corporations. Imposes such tax on taxpayers having alternative minimum taxable income in excess of $70,000. Sets the amount of such tax at the excess of: (1) five-sixths of one percent for individuals or five-sixteenths of one percent for corporations for each $1,000 by which alternative minimum taxable income exceeds $70,000; over (2) the regular tax for the taxable year. Phases-out the deduction for individuals for alternative minimum tax itemized deductions by two percent for each $1,000 that minimum taxable income exceeds $100,000. Limits the itemized deduction for housing interest to interest paid for principal residences and allows an itemized deduction for State and local income and real property taxes. Repeals provisions relating to the present minimum tax on corporations. Modifies provisions relating to items of tax preference to provide that: (1) all depreciable property regardless of whether subject to a lease shall be included as a tax preference item; (2) present class life rather than accelerated cost recovery periods must be used for depreciable property; and (3) the net income offset for intangible drilling costs shall be disallowed. Adds as items of tax preferences for all taxpayers: (1) interest from newly issued tax-exempt securities; (2) gain on installment sales; (3) income attributable to life insurance, annuity, or endowment contracts; (4) net losses from activities in which an individual is not a material participant; and (5) certain deductions of life insurance companies. Provides that tax preferences which presently apply to personal holding companies shall apply to all corporations. Revises the method of calculating the tax preference for bad debt reserves and interest on debt to carry tax-exempt obligations for financial institutions. Adds as items of tax preference for corporations: (1) exempt foreign trade income; (2) deposits in, and earnings on, certain maritime construction funds; and (3) income received under completed contract accounting. Adds as items of tax preference for individuals: (1) untaxed portions of social security benefits; (2) earned income of citizens and residents living abroad; (3) the increase in nonforfeitable pension benefits; (4) the deduction for two-earner married couples; (5) health-related benefits excluded from gross income; and (6) employer contributions to group term life insurance. Revises requirements for the election to avoid minimum tax on qualified expenditures. Sets forth effective dates and transitional rules.
United States · United States Congress · 7 May 1985
Council on Industrial Competitiveness Act - Establishes in the executive branch an independent agency to be known as the Council on Industrial Competitiveness. Requires the Council to: (1) gather and analyze information regarding the competitiveness of U.S. industries; (2) create an institutional forum where national leaders will identify economic problems inhibiting the competitiveness of industries, develop long-term strategies to address those problems, and create broad consensus in support of those strategies; and (3) make recommendations on issues crucial to the development of coordinated industrial strategies. Directs the Council to examine and make available to the public all international agreements on foreign trade that have been agreed to by the United States. Directs the Council to monitor, and maintain public records regarding, the effect of imports on domestic industries. Requires the Council, not later than one year after the date of enactment of this title, to transmit a report to the Congress and the President containing recommendations for changes in any Federal policy necessary to implement effective industrial strategies. Requires the Council to make annual reports concerning the major industrial development priorities of the United States. Authorizes appropriations.
United States · United States Congress · 30 April 1985
Universal Health Insurance Act of 1985 - Adds a new title XXI to the Social Security Act entitled "Basic Health Insurance." Provides, under title XXI, for: (1) the establishment of one or more service areas within each State to deliver health care services; (2) the establishment of benefit standards; and (3) the selection of carriers through competitive bidding. Directs the Secretary of Health and Human Services in establishing the benefit standards to include the types of coverage normally provided by health insurance plans, including maternity and postnatal care and catastrophic protection. Provides that every U.S. national and lawfully admitted alien shall be eligible to enroll with a participating carrier. Provides that the annual premium for such insurance shall be equal to six percent of the sum of: (1) the amount of an individual's verified income; and (2) the amount of the individual's net assets. Provides that coverage under a title XXI plan shall: (1) be secondary in payment to any other insurance or benefit plan; and (2) not require any evidence of medical insurability from any individual. Provides a premium discount to enrollees who make little or no use of such insurance. Authorizes appropriations to carry out new title XXI in an amount equal to: (1) 100 percent of the cigarette excise tax; and (2) such additional amounts as may be required. Requires such funds to be used for making payments to to health insurance carriers for health insurance coverage contracted for by the Secretary under title XXI. Amends the Internal Revenue Code to impose an additional tax on cigarettes.
United States · United States Congress · 29 April 1985
Expresses the sense of the House of Representatives that the President should make the overvalued dollar, the U.S. trade deficit, and cooperative measures to redress such imbalances a priority at the Bonn Summit, West Germany, on May 2, 1985. Sets forth specified assurances and commitments the President should seek from participating governments to correct such imbalances. Requests the President to report to the Congress on the results of his efforts.
United States · United States Congress · 25 April 1985
Provides that certain settlements of claims for post-retirement medical insurance coverage subject to a specified law suit shall be excluded from gross income for income tax purposes.
United States · United States Congress · 23 April 1985
Authorizes the President, on behalf of the Congress, to present a gold medal honoring George Gershwin to his sister, Frances Gershwin Godowsky, and a gold medal honoring Ira Gershwin to his widow, Lenore Gershwin. Directs the Secretary of the Treasury to provide for the sale of bronze duplicates of the medal. Authorizes appropriations.
United States · United States Congress · 18 April 1985
Prohibits any agency of the government from obligating or appropriating funds for the production of lethal chemical weapons. Expresses the sense of the Congress that: (1) the President should intensify efforts to achieve agreement with the Soviet Union and other countries to stop the production, proliferation, and stockpiling of lethal chemical weapons; (2) the Department of Defense should protect the armed forces against the use of lethal chemical weapons in attacks; (3) an agreement with the North Atlantic Treaty Organization must be concluded on the prepositioning of any new chemical weapons; and (4) funding of new lethal chemical weapons is unwarranted in light of the Federal budget deficit.
United States · United States Congress · 18 April 1985
Expresses the sense of the Congress that the President should cancel his planned visit to the Bitburg Cemetery out of respect for the millions who suffered and died at the hands of the SS and the Nazis.
United States · United States Congress · 4 April 1985
Expresses the sense of the Congress that the President should analyze the proposals of the President's Private Sector on Cost Control (Grace Commission) and submit to the Congress within 90 days a unified report and recommendations with respect to an identification of: (1) the 1,635 proposals of the Commission and the expected savings from each of them; (2) each recommendation that the President or executive branch already has implemented; (3) each remaining recommendation which can be implemented solely by the President or the executive branch and which the President supports; (4) each recommendation which can be implemented solely by the President or the executive branch and which the President opposes; (5) each recommendation requiring congressional action on which the Congress has taken action, and the expected savings from such action; (6) each recommendation which requires further congressional action and which the President supports; (7) each recommendation which requires further congressional action and which the President opposes; and (8) any other information regarding any recommendation which the President deems necessary or appropriate to transmit to the Congress.
United States · United States Congress · 3 April 1985
Oil and Gas Leasing Reform Act of 1985 - Amends the Mineral Leasing Act to revise provisions relating to the authority of the Secretary of the Interior to lease oil and gas lands. Authorizes the Secretary of the Interior to lease to the highest responsible qualified bidder, by competitive bidding, any lands subject to disposition under the Act which may contain oil or gas deposits. Provides that a lease shall: (1) be for an initial period of five years and as long thereafter as gas or oil is produced from the leased area in compliance with the diligence standards; (2) entitle the lessee to explore, develop, and produce oil and gas, conditioned upon compliance with diligence standards; and (3) be conditioned upon an annual rental payment of at least $2.00 per acre. Requires a minimum royalty of $4.00 per acre in lieu of rental at the expiration of each lease year. Requires any lessee conducting exploration, development, or production of oil or gas to provide the Secretary access to all data and information obtained from such activity which the Secretary may request.
United States · United States Congress · 3 April 1985
Agriculture Act of 1985 - Title I: Dairy - Amends the Agricultural Act of 1949 to set milk price support levels at 90 percent of the previous three year average. Provides for: (1) automatic price support revisions on April 1 and October 1 of 1986 through 1989; and (2) additional adjustments based on Government purchase levels. Extends authority through 1989 for: (1) the dairy indemnity program; and (2) the program of dairy product transfers to the military and veterans' hospitals. Amends specified milk marketing order provisions. Title II: Wool and Mohair - Amends the National Wool Act of 1954 to extend the wool program through 1989. Title III: Wheat - Amends the Agricultural Act of 1949 to set loan and purchase levels for the 1986 through 1989 wheat crops at 75 percent of the preceding five year average, excluding high and low years. Limits annual adjustments to not more than ten percent. Sets 1986 target prices at not less than 1985 levels. Sets target prices beginning in 1987 at 110 percent of the preceding five year average, excluding high and low years. Limits annual adjustments to not more than five percent. Authorizes the Secretary of Agriculture to require compliance with an acreage reduction or paid land diversion program as a condition of eligibility for program benefits. Requires the Secretary to implement an acreage reduction program if carryover stocks exceed four percent of annual world utilization. Suspends specified marketing quota and producer certificate provisions. Title IV: Feed Grains - Amends the Agricultural Act of 1949 to set loan and purchase levels for the 1986 through 1989 corn crops at 75 percent of the preceding five year average, excluding high and low years. Limits annual adjustments to not more than ten percent. Sets loans and purchase levels for grain sorghum, barley, oats, and rye in relation to corn levels. Sets 1986 target prices at not less than 1985 levels. Sets target prices beginning in 1987 at 110 percent of the preceding five year average, excluding high and low years. Limits annual adjustments to not more than five percent. Authorizes the Secretary to require compliance with an acreage reduction or paid land diversion program as a condition of eligibility for program benefits. Requires the Secretary to implement an acreage reduction program if carryover stocks exceed four percent of annual world utilization. Title V: Cotton - Suspends specified base acreage allotment and marketing quota provisions for the 1986 through 1989 upland cotton crops. Amends the Agricultural Act of 1949 to set upland cotton loan rates at the lower of: (1) 85 percent of the average U.S. spot market price (weighted by market and month) for the preceding five years, excluding the high and low years; or (2) 90 percent of the average of comparable cotton prices, quoted C.I.F. northern Europe. Limits annual adjustments to not more than ten percent. Sets 1986 target prices at not less than 1985 levels. Sets target prices beginning in 1987 at 110 percent of the same average market price used to determine loan rates. Limits annual adjustments to not more than five percent. Directs the President to establish a special limited global import quota for upland cotton if average spot prices exceed specified levels. Authorizes the Secretary to require compliance with an acreage reduction or paid land diversion program as a condition of eligibility for program benefits. Requires the Secretary to implement an acreage reduction program if upland cotton carryover stocks exceed normal supply by more than 15 percent. Title VI: Rice - Amends the Agricultural Act of 1949 to set loan and purchase levels for the 1986 through 1989 rice crops at 75 percent of the preceding five year average, excluding high and low years. Limits annual adjustments to not more than ten percent. Sets 1986 target prices at not less than 1985 levels. Sets target prices beginning in 1987 at 110 percent of the preceding five year average, excluding high and low years. Limits annual adjustments to not more than five percent. Authorizes the Secretary to require compliance with an acreage reduction or paid land diversion program as a condition of eligibility for program benefits. Requires the Secretary to implement an acreage reduction program if rice carryover stocks exceed normal supply by more than 15 percent. Title VII: Peanuts - Amends the Agricultural Act of 1949 to establish the national poundage quota for the 1986 through 1989 peanut crops at the level of the previous three-year average of domestic edible and seed use. Authorizes modifications of up to five percent. Extends price support provisions for the 1986 through 1989 peanut crops. Permits changes in support levels based upon changes in the price paid index. Title VIII: Soybeans - Amends the Agricultural Act of 1949 to set loan and purchase levels for the 1986 through 1989 soybean crops at 75 percent of the preceding five year average, excluding high and low years. Stipulates that such level may not be less than $5.02 per bushel. Limits annual support reductions to not more than ten percent or below $4.50 per bushel. Title IX: Sugar - Amends the Agricultural Act of 1949 to set loan levels for the 1986 through 1989 sugarcane crops at 18 cents per pound. Bases sugar beet support levels on sugarcane prices. Title X: Miscellaneous - Subtitle A: Advance Diversion Payments - States that if the secretary makes land diversion payments to assist in adjusting acreage for the 1986 through 1989 crops of wheat, feed grains, cotton, or rice, at least 50 percent of such payment shall be made available as soon as possible after program signup. Subtitle B: Grain Reserves - Terminates the producer-owned reserve storage program. Subtitle C: Miscellaneous Commodity Provisions - Limits annual deficiency payments to $50,000 per person for the 1986 through 1989 crop years. Subtitle D: General Provisions - Extends the special grazing and hay program through 1989. Title XI: Agricultural Export and Public Law 480 - Subtitle A: Export Provisions - Amends the Food for Peace Act of 1966 to extend authority through 1989 for the Agricultural Export Credit Revolving Fund. Exempts export sales financed or guaranteed by the Commodity Credit Corporation (CCC) from cargo preference laws. Amends the Agriculture and Food Act of 1981 to exempt the special standby export subsidy program from cargo preference laws. Directs the Secretary to use bonus commodities from CCC to offset the adverse effects of competing countries' subsidies and currency exchanges. Exempts such exports from cargo preference laws. Subtitle B: Public Law 480 - Amends the Agricultural Trade Development and Assistance Act of 1954 to increase minimum export tonnage levels. Exempts such exports from cargo preference laws. Extends such programs through 1989. Title XII: Resource Conservation - Subtitle A: Conservation Reserve - Directs the Secretary to establish a conservation reserve program to convert cropland and highly erodible land to less intensive use. Subtitle B: Program Eligibility on Highly Erodible Land - Makes any person who cultivates crops on highly erodible land ineligible for price support and other agricultural loans and benefits. Subtitle C: General Provisions - Authorizes appropriations. Title XIII: Effective Date - Makes the provisions of this Act effective upon enactment, unless otherwise so provided.
United States · United States Congress · 3 April 1985
Directs the Secretary of Labor (the Secretary) to: (1) develop model criteria that States can use in approving training programs for individuals receiving unemployment compensation and in approving individuals to participate in such programs; (2) provide technical assistance to States in developing and implementing such criteria; and (3) make available information concerning State laws and regulations with respect to such programs. Sets forth the responsibilities of State Governors for the approval of such training programs and the approval of individuals' participation in such training. Directs Governors, in connection with the State unemployment compensation program, to designate State agencies for such purposes. Requires the designated State agency to approve any training program offered by an accredited training or educational institution, and to approve an individual's participation in an approved training program, unless the agency determines that the training is entirely unrelated to employment or is for a vocation for which employment opportunities do not exist and are unlikely to become available. Directs the Secretary to conduct a study to evaluate the implementation of such provisions for Federal assistance and State responsibilities with respect to such training programs for individuals receiving unemployment compensation. Requires that such study be conducted over a 12-month period and involve at least five States, at least three of which are actively involved in such implementation. Sets forth considerations to be included in such study. Directs the Secretary to transmit such study to the Congress by October 1, 1988. Amends title XII (Advances to State Unemployment Funds) of the Social Security Act to direct the Secretary of the Treasury to annually credit to a State's Unemployment Trust Fund account the amount paid by the State as unemployment compensation to individuals who, while receiving such compensation, were in an approved training program. Provides that any such amount so credited shall be used to reduce the interest owed on the balance of advances made to the State's Unemployment Trust Fund account. Amends title III (Grants to States for Unemployment Compensation Administration) of the Act to require a State's annual report to the Secretary to include certain information concerning unemployment compensation paid to individuals in approved training programs. Directs the Secretary to report to Congress annually concerning unemployment compensation paid to individuals in training. Provides that the provisions of this Act and activities carried out pursuant to such provisions shall not be taken into consideration in determining whether there has been a net decrease in the solvency of any State unemployment compensation system.
United States · United States Congress · 2 April 1985
Trade Adjustment Assistance Amendments of 1985 - Amends the Trade Act of 1974 to extend the trade adjustment assistance programs through FY 1989. Establishes within the Treasury the Trade Adjustment Assistance Trust Fund which shall be used to provide adjustment assistance for workers. Directs the President to undertake negotiations to change the General Agreement on Tariffs and Trade (GATT) so that a country may impose a small uniform duty on all imports in order to fund a program which assists the workers and firms of that country to adjust to import competition. Imposes an import surcharge on all imports at a uniform rate determined by the President to be in accordance with the GATT and to fund the trade adjustment assistance program for workers. Requires the fees collected from such surcharge to be deposited in the Trade Adjustment Assistance Trust Fund.
United States · United States Congress · 2 April 1985
Provides that, for taxable years prior to 1985, rural letter carriers are permitted to compute the amount of the deduction for the use of their automobile in performing services involving the collection and delivery of mail on a rural route by: (1) using the amount received as equipment maintenance allowances from the United States Postal Service; or (2) using the form entitled "Worksheet for Use of Rural Carrier in Reporting Equipment Allowance and Claiming Transportation Expense Deduction." Provides that, for taxable years beginning after 1984, rural letter carriers are permitted to compute the amount of their deduction for use of their automobile in performing such services: (1) by using a standard mileage rate for all such miles of such use equal to 150 percent of the basic standard rate; or (2) by calculating the equipment allowance deduction equal to the operating expenses. Removes the 50 percent of business use limitation contained in the Internal Revenue Code for rural letter carriers who claim the investment tax credit and the depreciation deduction for their automobiles.
United States · United States Congress · 2 April 1985
Amends the Internal Revenue Code to repeal the requirement that contemporaneous records be kept to substantiate deductions for certain travel expenses, including automobile expenses, business entertainment expenses, and expenses for gifts. Repeals the requirement that tax return preparers inform the taxpayer of such recordkeeping requirements. Repeals the special negligence penalty for failure to have written confirmation from the taxpayer that records exist. Repeals any regulations issued by the Secretary of the Treasury to implement the contemporaneous recordkeeping requirements. Provides that there must be sufficient written evidence substantiating the taxpayer's own statement as to such business deductions. Excludes from the recordkeeping requirements any qualified nonpersonal use vehicle. Defines "qualified nonpersonal use vehicle" as any vehicle which, by reason of its nature, is not likely to be used more than a de minimis amount for personal purposes. Provides that an employer may elect to not withhold any tax with respect to any vehicle fringe benefit provided to an employee if the employee is notified that the employer is making such election. Requires the vehicle fringe benefit to be included on the employee's withholding statement. Reduces the amount of the limitation on the investment tax credit for an automobile from $1,000 to $675. Reduces the annual depreciation deductions that are allowed for an automobile to: (1) $3,600 depreciation in the first year (currently the limit is $4,000); and (2) $5,400 depreciation in any subsequent year. (Currently the limit is $6,000.) Provides for a one-year deferral of the annual inflation adjustment of these limits. Requires the Secretary of the Treasury to prescribe regulations by October 1, 1985, to carry out these provisions.
United States · United States Congress · 2 April 1985
Amends the Federal Supplemental Compensation Act of 1982 to provide for a phase out, rather than an immediate termination, of the Federal supplemental unemployment compensation program by providing that individuals who are eligible for compensation in the last week of the current program shall receive the full number of weeks of compensation without regard to the termination date of the program. (Current law terminates all compensation payments as of April 6, 1985, the end of the week beginning March 31, 1985.) Provides for modification of agreements with States to conform to the amendments made by this Act.
United States · United States Congress · 2 April 1985
Expresses the sense of the Congress that the President shall take appropriate action to: (1) develop a plan for reducing the trade deficit by attacking its causes; and (2) secure the elimination of Japanese acts and policies which are inconsistent with or deny the United States the benefits of trade agreements to which Japan is a party and which are unjustifiable, unreasonable, or discriminatory. Directs the President, within specified times, to: (1) determine whether Japan has taken sufficient action to assure the elimination of such acts and policies; (2) report such determination to specified congressional committees; and (3) if Japan has not taken sufficient action, take action to eliminate such acts and policies by more aggressive use of existing customs laws and other trade laws. Requires the President's action to be sufficient to "insure that access to the Japanese market is fair and equitable, as measured by increased sales of competitive products from the United States and elsewhere, and verified by affirmation from the United States business community." Permits modification or revocation of the President's action only if the President determines that the objectives set forth in this resolution have been achieved.
United States · United States Congress · 28 March 1985
Satellite Television Viewing Rights Act of 1985 - Amends the Communications Act of 1934 to allow any person to receive encrypted satellite cable programming decoded for private viewing upon compliance with prices, terms, and conditions established in the marketplace or by the Federal Communications Commission (FCC). Prohibits any person from: (1) denying the availability of such programming for private viewing; (2) substantially restricting the availability of such programming for private viewing through pricing or other terms or conditions; (3) discriminating in price between different distributors offering comparable distribution services; or (4) requiring a person to purchase or lease decoding equipment from a specific source in order to receive such programming. Directs the FCC, if petitioned, to establish reasonable prices, terms, and conditions for the private viewing of such programming in a market by any person who: (1) has been denied viewing rights for at least ten days; (2) has been offered such rights on terms or conditions which substantially restrict the availability of programming; (3) resides in the franchised area of a cable television system where the operator is the sole source of such programming; or (4) resides outside of the franchised area of a cable system where the price for viewing rights is higher than the price paid by subscribers within the market. Sets forth factors to be considered by the FCC in establishing prices.
United States · United States Congress · 28 March 1985
Resources Cost Cutting and Conservation Act of 1985 - Provides for the implementation of user fees for: (1) summer recreation homes on Forest Service land; (2) specified agricultural marketing services; and (3) electric power sold by a Federal Power Marketing Administration. Requires reports to the Congress on: (1) a proposed auction-bid system of user fees for domestic livestock grazing on public rangelands; and (2) current policy regarding the sale of firewood from national forests.
United States · United States Congress · 28 March 1985
Federal Health Care Cost Cutting Act of 1985 - Directs the Secretary of Defense and the Administrator of Veterans Affairs to report to the Congress concerning actions taken to implement the recommendations of the September 1, 1982, GAO report entitled "Millions Can Be Saved Through Better Energy Management in Federal Hospitals." Amends part B (Peer Review of the Utilization and Quality of Health Care Services) of title XI and titles XVIII (Medicare) and XIX (Medicaid) of the Social Security Act to require second opinions with respect to elective surgery procedures.
United States · United States Congress · 28 March 1985
Federal Motor Vehicle Expenditure Control Act of 1985 - Requires the Director of the Office of Management and Budget to: (1) direct the head of each executive agency to designate one person from the agency to establish and operate a central monitoring system for the oversight of agency motor vehicle operations and related activities; (2) require the head of each executive agency to develop a system to collect and analyze all costs incurred by the agency with respect to motor vehicles used by the agency; and (3) promulgate standards governing the establishment and operation by executive agencies of such system. Directs the head of each executive agency to include with its requests for each fiscal year a statement containing specified information concerning motor vehicle acquisition, leasing, operating, maintenance, and disposal costs. Requires such statement to explain: (1) why the agency's motor vehicle requirements cannot be met through the Interagency Motor Pool System operated by the Administrator of General Services; or (2) how such requirements could be met through a qualified contractor in the private sector. Directs the President to report to the Congress with a summary and analysis of such statements. Requires the Director and Administrator of General Services to direct the heads of executive agencies to consolidate motor vehicle administration and maintenance facilities if consolidation would be cost effective. Directs the Administrator to take such actions as necessary to reduce motor vehicle storage and disposal costs. Provides that of the total amount of budget authority provided for FY 1986 that would otherwise be available for the operation, maintenance, leasing, and acquisition of nontactical, non-law enforcement motor vehicles, $100,000,000 of the amount intended for such purposes in the President's FY 1986 budget shall not be made available. Requires the Director to report to the appropriate House and Senate committees with respect to the implementation of such budget restriction. Requires reports to the Congress from the Director, the Administrator, and the U.S. Comptroller General with respect to the implementation of this Act.
United States · United States Congress · 28 March 1985
Department of Defense Cost Savings Act of 1985 - Prohibits the Secretary of Defense or the Secretary of any military department from operating or allowing a commissary to operate on any military installation unless: (1) such installation is located outside a metropolitan area; and (2) not more than one retail store offering the same food supplies as those of the commissary is located within ten miles of the installation. Directs the Secretary of Defense to establish and implement a competitive rate program applicable to the transportation of household goods to and from Alaska and Hawaii. Repeals Federal law which prohibits utilizing such a rate system. Requires, before the closure or realignment of any military bases occur, the Secretary of Defense or the Secretary of the military department concerned to file with the Armed Services Committees of the House and Senate a concise statement of findings together with a succinct justification for such base closure. Reduces from 60 days to 30 days the waiting period required after such reports are submitted before any specific closure action may be taken. Maintains the 60-day waiting period in areas with a higher-than-average unemployment rate or if such closure or realignment would increase unemployment in such area by one percent or more. Requires the Secretary of Defense, within 90 days after the enactment of this Act, to establish and implement an aircraft fuel conservation program. Requires the Secretary to report to the Congress on the same date concerning such program.
United States · United States Congress · 28 March 1985
Tax Collection Cost Cutting Act of 1985 - Expresses the sense of the Congress that appropriations should be increased for the Internal Revenue Service (IRS) to provide an additional 2,500 examination personnel in each of FY 1986, 1987, and 1988. Expresses the sense of the Congress that for FY 1986 an additional $17,000,000 should be appropriated for use in the Information Returns Program for contacting persons who underreport income. Revises standards for inputting paper documents for computerized matching for purposes of the Information Returns Program. Requires the Secretary of the Treasury to submit an annual report to each House of the Congress on the direct and indirect effects of the enforcement presence of the IRS. Specifies requirements for such report. Repeals the ten-day grace period for filing of returns and payment of excise taxes on tobacco products and cigarette papers and tubes.
![Official portrait of Rep. Pease, Donald J. [D-OH-13]](https://www.congress.gov/img/member/p000170_200.jpg)