Bill· HRH.R. 8443 (96th)referred
United States · United States Congress · 5 December 1980
International Communications Reorganization Act of 1980 - Establishes in the Executive Office of the President a Council on International Communications and Information (Council). Directs the Council to: (1) review any action or proposed action under specified Executive Orders; (2) coordinate the policies and activities of Federal agencies involving international communications and information; and (3) review all policy determinations and proposed policy statements by such agencies relating to international communications and information, except actions or determinations made pursuant to specified rulemaking or adjudicatory procedures. Sets forth the powers of the Council. Directs all Federal agencies to provide the Council with information it deems necessary to perform its functions. Prohibits any agency from acting with respect to international communications or information without prior review by the Council unless such action is made pursuant to specified rulemaking or adjudicatory procedures. Directs the Council to establish an Advisory Committee on International Communications (Committee). Establishes an interagency committee to advise the Council on problems encountered by Federal agencies in the performance of responsibilities related to international communications and information. Permits the disclosure of confidential information where the recipient has been sufficiently informed of the confidential nature of the information, submitted to the Council the Committee, or the interagency committee: (1) to designated U.S. officers and employees; (2) to an appropriate congressional committee; (3) to the Committee; or (4) pursuant to court order. Establishes, and sets forth the functions of, the following offices: (1) a Bureau of International Communications and Information within the Department of State; (2) a Special Ambassador for Telecommunications and Information Services within the Office of the U.S. Trade Representative; and (3) an Office of International Communications within the Federal Communications Commission. Directs the Council to report to specified congressional committees with respect to: (1) the Council's plans for fulfilling its responsibilities under this Act; and (2) legislative or administrative recommendations to further the establishment of a comprehensive international communications and information policy.
Resolution· HCONRESH.Con.Res. 446 (96th)referred
United States · United States Congress · 2 October 1980
Expresses the sense of Congress that the United States Postal Service should not increase the number of digits of the zip code until: (1) the Service and the Congress have fully examined the costs, social consequences, and technical issues associated with such action; and (2) the Service has fully examined other means of improving productivity in the sorting of mail.
Bill· HRH.R. 8210 (96th)referred
United States · United States Congress · 25 September 1980
Agricultural Disaster Relief Act of 1980 - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to permit the deferral for at least one year of payments on loans administered by the Farmers Home Administration when circumstances beyond the borrower's control prevent making such payments without undue hardship. Authorizes the Secretary to implement a national moratorium on the repayment or foreclosure on loans made or held by the Secretary or under the provisions of any law administered by the Farmers Home Administration for up to three years if warranted by emergencies adversely affecting the agricultural economy. Requires the Secretary to implement a local moratorium on repayment or foreclosure for any county or area which has been declared a disaster area in 1980. Authorizes the Secretary to consolidate or reschedule such loans for payment. Sets forth the terms for such payment.
Bill· HRH.R. 8219 (96th)referred
United States · United States Congress · 25 September 1980
Federal Privacy of Telephone Records Act - States as a purpose of this Act the protection of private telecommunications records from unwarranted disclosure. Amends the Privacy Act to prohibit any Federal agency from disclosing telephone record information to any person except: (1) upon written consent of the customer to whom the information pertains; (2) to a U.S. attorney who determines that disclosure is required for a proceeding before a court or grand jury which arose out of the investigation for which the information was acquired; or (3) to a Federal authority for the purpose of conducting intelligence activities. Requires that a telephone record custodian be designated in each Federal agency which maintains telephone record information to carry out such requirement. Amends the Communications Act of 1934 to prohibit a service provider from disclosing telephone record information except to a Government authority under specified circumstances or pursuant to the specific authorization of the customer identified by the record. Stipulates that record information may be disclosed which does not identify a particular customer. Sets forth the procedures by which a supervisory officer of a Federal agency may obtain an administrative or judicial summons or subpoena to obtain telephone information from a service provider. Authorizes the Attorney General to permit application to Federal court for an order to acquire telephone record information from a service provider or to intercept such information when such acquisition or intercept may provide evidence of a Federal criminal offense constituting a felony. Authorizes the Attorney General or a State attorney general to permit such an application to a State court when the acquisition or interception may provide evidence of a criminal offense involving murder, kidnapping, robbery, extortion, forgery, bribery, embezzlement, fraud, racketeering, or any other crime punishable by more than one year's imprisonment which threatens serious injury or damage. Specifies the content of any such applications. Permits the court to issue an ex parte order permitting the acquisition or interception if: (1) there is probable cause to believe a crime is being committed; (2) there is probable cause that the information will be relevant to such offense; and (3) alternative investigative procedures have failed or are unlikely to succeed. Specifies the content of any such court order. Permits a law enforcement officer designated by the Attorney General or State attorney general to intercept or acquire telephone record information notwithstanding the application requirements if: (1) an emergency situation exists; (2) there are grounds upon which an order could be obtained; and (3) an application is made within 48 hours. Permits a special agent of the Secret Service to acquire or intercept telephone record information notwithstanding the application requirements to carry out the protective function of the Secret Service upon authorization of the Director and certification to a Federal court within 48 hours that the acquisition or interception is occurring. Requires that the persons named in any order or application be notified of the termination of an order or denial of an application within a reasonable time up to 120 days. Permits the court to delay such notice if there is reasonable cause to believe that it would endanger any person's safety or result in flight from prosecution, destruction of evidence, or intimidation of witnesses. Establishes criminal penalties for the intentional disclosure of telephone record information in violation of this Act. Permits an aggrieved person to maintain a civil action for damages and equitable relief in district court. Establishes an exclusionary rule with respect to information obtained in violation of this Act.
Bill· HRH.R. 8176 (96th)referred
United States · United States Congress · 22 September 1980
Amends Rule Six of the Federal Rules of Criminal Procedure (Grand Jury) to permit disclosure of grand jury testimony to any congressional committee for the purpose of disciplining a Member or employee of Congress in accordance with the U.S. Constitution.
Law· HRH.R. 8117 (96th)open
United States · United States Congress · 15 September 1980
Amends the Safe Drinking Water Act to extend the date by which public water systems which have been granted an exemption from contaminant level and treatment technique requirements must meet such requirements. Provides an alternative procedure by which a State with an underground injection control program relating to oil or natural gas production or recovery may receive approval for obtaining primary enforcement responsibility for protecting its underground water sources. Authorizes a State to demonstrate that its underground injection control program meets the minimum requirements of State program regulations and will prevent underground injection which endangers drinking water sources, rather than file an application which meets the regulations established by the Administrator of the Environmental Protection Agency. Authorizes a State which has made such a demonstration to make a similar demonstration with respect to any amended requirement of underground injection rather than file a notice that the State program meets the new requirement. Prohibits the application of requirements to determine whether a State retains primary enforcement responsibility if the State initially acquired the responsibility because of such a demonstration. Authorizes the Administrator to determine, after an opportunity for public hearing, that such a demonstration is no longer valid and to remove primary enforcement responsibility from the State. Permits a State which has primary enforcement responsibility to exempt a public water system from a contaminant level or treatment technique requirement if the system was not in operation at the time the requirement took effect and no reasonable alternative source of drinking water is available. Prohibits underground water source protection grants to any State which has not assumed primary enforcement responsibility within a specified time.
Resolution· HCONRESH.Con.Res. 422 (96th)referred
United States · United States Congress · 27 August 1980
Directs the President to designate the week of September 28-October 4, 1980, as "National High School Activities Week."
Bill· HRH.R. 8012 (96th)referred
United States · United States Congress · 25 August 1980
Establishes a commission to recommend an appropriate public memorial to former United States Representative Allard K. Lowenstein. Requires the Commission to transmit a report to each House of Congress by January 31, 1981, containing its recommendations.
Resolution· HCONRESH.Con.Res. 417 (96th)referred
United States · United States Congress · 25 August 1980
Declares the sense of the Congress that the administrators and teachers of the public schools should provide periods for silent prayer, contemplation, or reflection at the discretion of individual students and should provide opportunities for study of the development of the world's major religions.
Resolution· HCONRESH.Con.Res. 406 (96th)referred
United States · United States Congress · 20 August 1980
Declares that the people of Poland should be allowed to settle their own affairs, including the formation of independent trade unions and the right to strike, without foreign interference.
Law· HRH.R. 7939 (96th)open
United States · United States Congress · 18 August 1980
Amends the Securities Investor Protection Act to increase from $100,000 to $500,000 the maximum amount which the Securities Investor Protection Corporation may distribute to a customer in the liquidation of a broker-dealer. Permits up to $100,000 of such amount (presently, $40,000) to be used to satisfy a claim for cash. Amends the Right to Financial Privacy Act of 1978 to apply its provisions to the Securities and Exchange Commission, except as provided in the Securities Exchange Act of 1934. Amends the Securities Exchange Act of 1934 to authorize the Commission to obtain copies of information contained in financial records of a customer from a financial institution without prior notice to the customer upon an ex parte showing to an appropriate district court that the Commission: (1) seeks such records pursuant to a subpoena issued in conformity with the requirements of the Federal securities laws; and (2) has reason to believe that specified acts or results will occur. Requires, upon expiration of any authorized period of delay of notification, that the customer be served with a copy of the subpoena along with a specified notice which describes the nature of the investigation. Directs the Commission to compile an annual tabulation of the occasions on which the Commission obtains access to financial records of a customer as authorized under this Act and include such tabulation in its annual report to Congress. Permits a customer, following the expiration of the period of delay of notification, to reopen the proceeding in the district court. Authorizes such court to grant civil penalties against the Commission or issue injunctive relief if the Commission has obtained records in violation of this Act. Directs the Office of Personnel Management to initiate a proceeding to determine whether disciplinary action should be taken against an employee of the Commission who acted in a willful and intentional manner and without good faith with respect to the violation. Authorizes the Commission to transfer financial records to any government authority in accordance with the Right to Financial Privacy Act, but permits customer notice to be delayed upon an appropriate showing under this Act. Authorizes the Commission to obtain financial records from a financial institution or transfer such records in accordance with the Right to Financial Privacy Act of 1978.
Bill· HRH.R. 7921 (96th)referred
United States · United States Congress · 1 August 1980
Product Liability Act of 1980 - Provides that this Act preempts any other Federal or State law pertaining to matters governed by the Act. Permits reference to be made to other sources of law where this Act does not provide a rule of decision. Sets forth basic standards of responsibility for manufacturers and product sellers other than manufacturers. Subjects a product manufacturer to liability to a claimant who proves by a preponderance of the evidence that the claimant's harm was proximately caused by the product, if such product was unreasonably unsafe in construction or design, or because: (1) adequate warnings or instructions were not provided; or (2) it did not conform to the product seller's express warranty. Specifies the requisite findings which must be made for such proof or unreasonable unsafety to be determined. Subjects a product seller other than a manufacturer to liability to a claimant who proves by a preponderance of the evidence that the claimant's harm was proximately caused by such seller's failure to use reasonable care with respect to the product. Enumerates circumstances under which such a seller is also subject to the liability of a manufacturer. Provides that a product seller shall not be subject to liability for harm caused by an unavoidably dangerous aspect of a product, with specified exceptions. Provides that a product seller shall not be liable where it shows as a defense by a preponderance of the evidence that at the time of manufacture it was not within practical technological feasibility to make the product safer with respect to its design and its warnings or instructions with specified exceptions. Permits the trier of fact to consider custom in the product seller's industry or evidence of compliance with a nongovernmental safety or performance standard in determining whether there was a design defect or failure to warn or instruct. Sets forth rules relating to proof in product liability cases with respect to government standards and mandatory contract specifications. Sets forth provisions governing the length of time product sellers are subject to liability. Provides for a ten-year statute of repose unless the State has adopted a statute of repose. Provides that all claims under this Act shall be governed by the principles of comparative responsibility. Sets forth rules with respect to conduct affecting comparative responsibility, including misuse of a product and alteration or modification of a product. Specifies the manner in which damages are to be apportioned. Requires that damages in any product liability claim be reduced by an amount paid as workers' compensation benefits. Allows punitive damages to be awarded if the claimant proves by clear and convincing evidence that the harm suffered was the result of the product seller's reckless disregard for the safety of product users, consumers, or others who might be harmed by the product.
Bill· HRH.R. 7911 (96th)passed
United States · United States Congress · 31 July 1980
Health Planning Technical Amendments of 1980 - Amends the Public Health Service Act to extend from three to five years the time limit for a health systems agency to complete its initial review of existing institutional health services. Limits the authorized appropriation to a health service agency to $3,750,000 for any fiscal year. Amends the alternative sets of requirements which a health maintenance organization or combination of such organizations must meet in order to buy, lease, or acquire a health care facility. Modifies the definitions of the terms "provider of health care" and "expenditure minimum." Exempts expenditures for health research not affecting a facility's services or charges to its patients from the requirement of a capital expenditure certificate of need. Authorizes appropriations for fiscal year 1981 for primary health centers. Makes other technical changes in specified provisions of the Public Health Service Act and other Federal laws regarding health planning.
Resolution· HRESH.Res. 755 (96th)referred
United States · United States Congress · 28 July 1980
Requests the President to designate October 11, 1980, as "National Jogging Day."
Bill· HRH.R. 7836 (96th)referred
United States · United States Congress · 25 July 1980
Securities Law Investigation Privacy Protection Act - Amends the Right to Financial Privacy Act of 1978 to apply its provisions to the Securities and Exchange Commission, except as provided in the Securities Exchange Act of 1934. Amends the Securities Exchange Act of 1934 to authorize the Commission to obtain copies of information contained in financial records of a customer from a financial institution without prior notice to the customer upon an ex parte showing to an appropriate district court that the Commission: (1) seeks such records pursuant to a subpoena issued in conformity with the requirements of the Federal securities laws; and (2) has reason to believe that specified acts or results will occur. Requires, upon expiration of any authorized period of delay of notification, that the customer be served with a copy of the subpoena along with a specified notice which describes the nature of the investigation. Directs the Commission to compile an annual tabulation of the occasions on which the Commission obtains access to financial records of a customer as authorized under this Act and include such tabulation in its annual report to Congress. Permits a customer, following the expiration of the period of delay of notification, to reopen the proceeding in the district court. Authorizes such court to grant civil penalties against the Commission or issue injunctive relief if the Commission has obtained records in violation of this Act. Directs the Office of Personnel Management to initiate a proceeding to determine whether disciplinary action should be taken against an employee of the Commission who acted in a willful and intentional manner and without good faith with respect to the violation. Authorizes the Commission to transfer financial records to any government authority in accordance with the Right to Financial Privacy Act, but permits customer notice to be delayed upon an appropriate showing under this Act. Authorizes the Commission to obtain financial records from a financial institution or transfer such records in accordance with the Right to Financial Privacy Act of 1978.
Bill· HRH.R. 7824 (96th)referred
United States · United States Congress · 24 July 1980
Farm Labor Contractor Registration Act Amendments of 1980 - Amends the Farm Labor Contractor Registration Act of 1963 to revise the definition of "farm labor contractor" to: (1) broaden specified exclusions from such definition (thus broadening certain exemptions from coverage under such Act); and (2) exclude from such definition (and such coverage) any nonprofit or cooperative association of farmers, growers, or ranchers, duly incorporated under appropriate State laws, and operated solely for the mutual benefit of the members thereof, and any full-time or regular employee of such association or cooperative who engages in such activity solely for such employer. Adds other definitions relating to such revisions. Revises the definition of "agricultural employment" to specify that listed activities take place on a farm or ranch. Limits the definition of "migrant worker" to mean (among individuals engaged in agricultural employment on a farm or ranch on a seasonal or temporary basis) only those who cannot regularly return to their domicile each day after working hours, or who are transported from and to their domicile each workday by the person who recruits, solicits, hires, or furnishes such worker for agricultural employment on a farm or ranch owned or operated by another person.
Bill· HRH.R. 7747 (96th)referred
United States · United States Congress · 2 July 1980
Amends the Communications Act of 1934 to establish civil and criminal penalties for knowingly carrying out, conspiring, or attempting to carry out an unauthorized interception of a subscription telecommunication.
Bill· HRH.R. 7628 (96th)referred
United States · United States Congress · 19 June 1980
Requires that the Archivist of the United States be appointed by the President, by and with the advice and consent of the Senate (presently appointed by the Administrator of the General Services Administration). Transfers to the Archivist the duties and responsibilities of the Administrator relating to: (1) archival administration; (2) the National Archives Trust Fund; (3) the National Historical Publications Commission; (4) the Federal Records Council; (5) the management of agency records; (6) records management by Federal agencies; and (7) the disposal of agency records.
Bill· HRH.R. 7627 (96th)referred
United States · United States Congress · 19 June 1980
Authorizes the Archivist of the United States: (1) to designate attorneys to initiate an action to recover records unlawfully removed from an agency whenever the agency head fails to initiate such an action within a reasonable time after being notified of the removal; and (2) to report any such failure of an agency head to the appropriate congressional committees. Requires the Administrator of the General Services Administration, before empowering an agency to dispose of any records, to notify the public and provide an opportunity for public comment concerning such disposal.
Bill· HRH.R. 7557 (96th)referred
United States · United States Congress · 12 June 1980
Authorizes appropriations for fiscal years 1981 through 1985 to the Secretary of Agriculture to carry out a program of matching grants to States to assist "1890 land grant colleges", including Tuskegee Institute, in acquiring and improving agricultural and food research facilities and equipment.
Law· HRH.R. 7554 (96th)open
United States · United States Congress · 12 June 1980
Small Business Investment Incentive Act of 1980 - Title I: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to include within the private offering exemption from full registration any transaction: (1) which is solely with accredited investors or persons the issuer believes to be accredited investors; (2) involving a security bearing a legend stating that such security may not be sold without compliance with the registration requirements or exemptions of such Act; and (3) for which there is no general advertising or solicitation. Defines the term "accredited investor" to include banks, insurance companies, registered investment companies, licensed small business investment companies, venture capital companies, any fund, trust, or account administered by a bank or insurance company, and any purchaser of $100,000 or more of the issuer's securities. Exempts from registration, as an action not involving an underwriter, any resale of a security to an accredited investor or a person the seller reasonably believes to be an accredited investor. Title II: Amendments to the Investment Company Act of 1940 and the Investment Advisers Act of 1940 - Amends the Investment Company Act of 1940 to define a "venture capital company" to include companies which: (1) are predominantly engaged in one or more of the businesses of (a) providing capital and managerial assistance to new businesses, businesses in need of reorganization, or businesses which cannot obtain capital from public markets on fair terms, (b) purchasing securities for which there is no ready market, (c) purchasing securities or assets to effect reorganizations which establish independent businesses, (d) acting as a small business investment company, or (e) a related business or activity as determined by the Commission; and (2) have at least 80 percent of their assets (excluding equipment and real estate maintained to conduct business operations, deferred operating expenses, and other property and assets necessary to its operation) in (a) securities obtained in a private offering or treated for purposes of resale as having been obtained in a private offering, (b) securities obtained in a corporate reorganization, or (c) Government securities, short-term paper, and cash items. Defines a private venture capital company to include companies: (1) which are predominantly engaged in such businesses; (2) which have at least 60 percent of their assets in such securities; and (3) the securities of which are issued only in transactions included within the private offering exemption from full registration of the Securities Act of 1933. Exempts from regulation as an investment company any venture capital company which has operated as such for at least three years or any private venture capital company, if such an eligible company: (1) has each class of its equity securities registered pursuant to the Securities Exchange Act of 1934; or (2) has outstanding securities beneficially owned by more than 100 persons, but only for a period of 180 days. Declares that for purposes of such Act, the beneficial ownership by a company of more than ten percent of the voting securities of an issuer shall be deemed to be ownership by one person if at the time the securities are purchased: (1) the value of all securities of all issuers which are exempt from regulation as investment companies owned by such company does not exceed ten percent of the value of the company's total assets; or (2) such company is a general partner, promoter, or investment adviser of such issuer. Requires the majority of the directors of an eligible venture capital company to be disinterested persons in order for such company to qualify for the exemption provided by this title. Places restrictions on dealings between the insiders of such a company and the businesses in which it invests. Authorizes the Commission to require eligible venture capital companies to comply with specified provisions of the Investment Company Act of 1940 pertaining to the custody of securities and fidelity bonding and indemnification. Prohibits any director, controlling person, or adviser of such a company from engaging in any fraudulent or deceptive act in connection with the purchase or sale of any security held by that company. Directs each eligible venture capital company to maintain such records as the Commission requires. Authorizes the Commission to require such a company to supply an annual statement summarizing the risks involved in investing in the securities held by such company to its shareholders, any registered broker or dealer upon request, and purchasers of such securities. Establishes a private right of action for damages or injunctive relief for persons injured by a willful violation of the restrictions or reporting requirements applicable to eligible venture capital companies under this Act. Authorizes the Commission to: (1) order an eligible company to comply with the requirements set forth in this title upon finding on the record that such company has failed to satisfy such requirements; and (2) prohibit any person from serving as an employee, officer, depositor, principal underwriter, or adviser for any eligible company if it finds, after an opportunity for hearing, that such person (a) made a misleading statement or report to the Commission, (b) willfully violated or contributed to a violation of the Securities Act of 1933, the Securities Exchange Act of 1934, or the Investment Advisers Act of 1940, (c) has been convicted within ten years of a felony or misdemeanor involving the purchase or sale of any security, or (d) is enjoined from acting in such capacity. Permits a venture capital company to register as an investment company, though it would be entitled to an exemption under this Act, provided it is not a personal holding company as defined in the Internal Revenue Code of 1954. Amends the Investment Advisers Act of 1940 to exclude as clients of an investment adviser, for purposes of determining the adviser's entitlement to an exemption from registration, any shareholder, partner, or beneficial owner of any company which is either an eligible venture capital company or a private company (as defined in this Act) unless either of such companies is a client of such investment adviser separate from its status as a shareholder, partner, or beneficial owner. Title III: Effective Date and Miscellaneous Provisions - States that this Act shall take effect upon its enactment. Authorizes and directs the Commission to study the effects of the exemption from regulation for eligible venture capital companies set forth by this Act and to report its findings to Congress.
Bill· HRH.R. 7548 (96th)passed
United States · United States Congress · 11 June 1980
Farm Credit Act Amendments of 1980 - Title I: Federal Land Banks and Associations - Amends the Farm Credit Act of 1971 to authorize any Federal land bank, under the supervision of the Farm Credit Administration, to: (1) participate in loans with other Farm Credit System institutions (i.e., Federal land banks, Federal land bank associations, Federal intermediate credit banks, production credit associations, and banks for cooperatives); (2) participate in loans which the land banks are authorized to make with lenders which are not Farm Credit System institutions; (3) sell interests in loans to such lenders; (4) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (5) make other investments; (6) accept contributions to their capital from Federal land bank associations; (7) enter into agreements with other Farm Credit System institutions to share loan and other losses; (8) issue nonvoting stock to borrowers as a patronage refund; and (9) make or participate with other lenders in long-term real estate mortgage loans not exceeding 85 percent of the appraised value of the real estate security. Makes producers and harvesters of aquatic products eligible for Federal land bank services. Authorizes Federal land bank associations to make capital contributions to a Federal land bank. States that a member of a Federal land bank association need not make the required purchases of land stock with respect to that part of a loan derived from a lender which is not a Farm Credit System institution. Authorizes the Federal land bank associations to pay dividends on a differential basis between different classes and issues of stock and participation certificates corresponding to the value of such classes and issues to the capital or earnings of the Federal land bank in its district. Permits the Federal land bank associations to agree to share loan and other losses with other Farm Credit System institutions. Title II: Federal Intermediate Credit Banks and Production Credit Associations - Authorizes the Federal Intermediate Credit Banks, subject to the supervision of the Farm Credit Administration, to: (1) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (2) make other investments; (3) agree to share loan and other losses with other Farm Credit System institutions; (4) participate with other Farm Credit System institutions in making loans; and (5) issue nonvoting stock to such institutions. Authorizes the Federal intermediate credit banks to discount, or purchase from other financial institutions, loans made to producers and harvesters of aquatic products. Authorizes each production credit association, subject to the supervision of the intermediate credit bank in its district and the Farm Credit Administration, to: (1) buy from and sell to any bank in the Farm Credit System interests in loans, other financial assistance extended, and nonvoting stock; (2) participate in loans with other Farm Credit System institutions; (3) agree to share loan and other losses with other Farm Credit System Institutions; (4) issue participation certificates to eligible borrowers in lieu of nonvoting stock; and (5) issue participation certificates or nonvoting stock to any financial institution outside the Farm Credit System with which the association participates in a loan in satisfaction of the requirement that a borrower own such stock or participation certificates. Requires a borrower to own only that amount of stock or participation certificates which is proportionate to that portion of a loan retained by a production credit association when it participates with another lender in making a loan. Authorizes the production credit association to extend loan assistance to bona fide farmers, ranchers, and producers and harvesters of aquatic products for basic processing and marketing directly related to the borrower's operations. Requires the borrower's operation to provide a specified percentage of the total processing or marketing for which financing is extended. Title III: Banks For Cooperatives - Empowers each bank for cooperatives, subject to the supervision of the Farm Credit Administration, to: (1) participate with other Farm Credit System institutions in making loans; (2) deposit its securities and current funds with any domestic or foreign financial organization (presently, such deposits must be made at a member bank in the Federal Reserve System); (3) buy and sell bankers acceptances which are obligations of member banks in the Federal Reserve System; (4) buy and sell other obligations including those which arise in the course of transactions which the bank has assisted through loans; (5) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (6) make other investments; (7) invest in foreign and domestic business entities to facilitate the obtaining of credit information and the performance of services related to international transactions; (8) maintain credit balances to assist in the transfer of funds between parties to authorized transactions; (9) agree to share loan and other losses with other Farm Credit System institutions; and (10) issue participation certificates to parties who may not be issued voting stock. Requires all participation certificates, voting and nonvoting stock issued by the banks for cooperatives to be retired at par value. Authorizes the banks for cooperatives to: (1) offer a currency exchange for eligible cooperative associations; and (2) extend loans, loan participation commitments, and other technical and financial assistance to any domestic or foreign party in which a member cooperative has an ownership interest or which engages with the cooperative in dealings in agricultural or aquatic products, farm supplies or the lease of property, provided such assistance substantially benefits the member cooperative. Sets forth guidelines for regulations governing the extension of such assistance. Enables cooperatives solely engaged in furnishing aquatic business services to borrow from the banks for cooperatives. Reduces the degree of ownership in a cooperative which must be held by farmers, producers or harvesters of aquatic products, or other cooperative associations in order to make such a cooperative eligible to borrow from a bank for cooperatives. Requires a bank for cooperatives to retire any equity held by a borrower in default or dissolution at fair market value not to exceed the par value of the equity interest of the borrower. Prohibits the retirement or cancellation of such an equity interest if the bank's capital structure would be adversely affected. Permits each bank for cooperatives to transfer more than 25 percent of its net annual savings to a surplus account. Authorizes the banks for cooperatives to pay patronage refunds to borrowers in the form of participation certificates. Title IV: Provisions Applicable to Two or More Classes of Institutions of the System - Declares that interest rates established by the Farm Credit Administration for loans made by Farm Credit System institutions and by specified agricultural credit corporations shall preempt any interest rate limitation imposed by State law. States that when two or more Farm Credit System institutions participate in a loan as authorized by this Act, the terms of such loan shall be those agreed upon by the institutions. Requires that such factors as borrower eligibility, membership, term, amount, loan security and purchase of stock or participation certificates by the borrower are to be governed by the provisions of law applicable to the institution originating the loan. Exempts credit transactions of Farm Credit System institutions and specified agricultural credit corporations from the provisions of any State statute or any other law or regulation which impose, with regard to a credit transaction, any duty or requirement which is similar to those which have been imposed by the Truth in Lending Act. Requires each Federal land bank association and production credit association to prepare a program for furnishing sound and constructive credit and related services to young, beginning, and small farmers and ranchers. Directs the Federal land bank and the Federal intermediate credit bank for each district to annually obtain reports of activities under such programs. Authorizes the institutions of the Farm Credit System to organize corporations to perform non-lending functions and services which such institutions are authorized to perform. Empowers the Governor of the Farm Credit Administration to review and revise the charters of such corporations. States that such corporations shall be subject to supervision and examination by the Administration. Applies State and other laws relevant to organizing banks to such corporations, except for specified tax exemptions. Authorizes the sale to Farm Credit System members of insurance to protect the loan commitment and the member's farm or aquatic unit, with specified limitations. Permits banks and associations already offering insurance not authorized by this section to continue to sell such insurance for one year and continue to service such insurance until expiration. Title V: District and Farm Credit Administration Organization - Permits the Virgin Islands to be included within a farm credit district, if the extension of credit and other services in the Virgin Islands is determined to be feasible. Revises the process for the election of farm credit district directors by reducing from three to two the number of nominees on the election poll. Establishes the rate of compensation for the Federal Farm Credit Board at the daily equivalent of the rate prescribed for grade GS-18 of the General Schedule. Authorizes the Board to fix the salary of the Governor of the Farm Credit Administration at any level not exceeding the maximum rate of basic pay in the Executive Schedule. Authorizes the Governor to appoint Deputy Governors to provide assistance in the functioning of the Farm Credit Administration. Exempts the Administration from provisions of Federal law relating to appointments in the competitive civil service, travel expenses, allowances, procurement, and property disposition. Credits employees of Farm Credit System institutions with specified leave and retirement benefits when they are transferred to Federal service in the Farm Credit Administration. Authorizes the banks of the System, with the concurrence of two-thirds of the district boards, to sell or otherwise dispose of any interest in property. Requires the Farm Credit Administration to make annual reports to Congress which include a summary of any unresolved differences arising out of consultations with the Board of Governors of the Federal Reserve System and the Comptroller of the Currency and a summary and analysis of specified reports submitted to such Administration by the Federal land banks and Federal intermediate credit banks relating to programs for serving young, beginning, and small farmers and ranchers. Eliminates the requirement that such Administration maintain its principal office in the District of Columbia.
Resolution· HRESH.Res. 703 (96th)referred
United States · United States Congress · 10 June 1980
Expresses the sense of the House of Representatives that neither the Secretary of Transportation nor the Administrator of the Federal Aviation Administration shall take any actions which would reduce public air service into Washington National Airport.
Bill· HRH.R. 7533 (96th)referred
United States · United States Congress · 10 June 1980
Amends the Internal Revenue Code to provide that deferred compensation plans shall not be deemed as not satisfying minimum vesting standards even if there is a reasonable likelihood that the accrual of benefits or forfeitures under such plans will tend to discriminate in favor of employees who are officers, shareholders, or highly compensated.
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![Official portrait of Rep. Preyer, Richardson [D-NC-6]](https://www.congress.gov/img/member/p000520_200.jpg)