United States · United States Congress · 6 January 1977
Amends the Housing and Community Development Act to provide that units of general local government receiving grants, under the hold-harmless provisions of such Act, shall be entitled, after fiscal year 1977, to continue to receive the amount to which they are presently entitled.
United States · United States Congress · 4 January 1977
Financial Disclosure Act - Requires the President, Vice President, Members of Congress and candidates for those offices, justices and judges of the United States, Presidential nominees, officers and employees of the United States compensated at a rate equal to or in excess of the rate prescribed for the grade of GS-15, and members of the uniformed services compensated at a rate equal to or in excess of the monthly rate prescribed for grade O-6 to file in each calendar year, with the Comptroller General and other specified executive or administrative officers, a financial statement for the preceding calendar year if such individual has occupied or been a candidate for the office or position for more than 90 days in such calendar year. Specifies the content of such financial statements. Makes mandatory the inclusion in such report of all items held not only by the individual, but by the spouse, and dependents of such person, and those acting on the individual's behalf. Permits the President to exempt any individual in the Central Intelligence Agency, the Defense Intelligence Agency, and the National Security Agency, or other person engaged exclusively in intelligence activities from the requirement to file a report with the Comptroller General if such disclosure would reveal the identity of an undercover Federal agent. Makes failure to file and falsifying reports punishable by a fine and/or imprisonment. Requires the head of each agency, the Clerk of the House of Representatives, the Secretary of the Senate, and the Director of the Administrative Office of the United States Courts to submit annually to the Comptroller General a complete list of individuals required to file such a report. Requires the Comptroller General to refer to the Attorney General the names of all individuals who the Comptroller General have reasonable cause to believe has failed to file or falsified such report, and that if such an individual is a Member of Congress, that the name be referred to the appropriate Congressional committees. Requires the Comptroller General to make such reports available to the public for all purposes not excluded under this Act. Makes the House of Representatives, the Senate, the Director of the Administrative Office of the United States Courts, the Chairman of the Civil Service Commission and the head of each agency responsible for the review of such reports in accordance with any law or regulation regarding conflicts of interest or confidential financial information. Directs the Comptroller General to conduct audits of each specified group at varying intervals, and gives the Comptroller General subpena power for the purpose of conducting such audits. Requires the Civil Service Commission and the Department of Justice to recommend to Congress such legislation as may be necessary in the area of financial conflicts of interest among Federal employees and officers.
United States · United States Congress · 4 January 1977
Health Security Act - Title I: Health Security Benefits - Makes every resident of the U.S. (and every non-resident citizen when in the U.S.) eligible for covered services. Permits reciprocal and "buy-in" agreements for groups or non-resident aliens, and in some cases benefits to U.S. residents when visiting in other countries. Entitles every eligible person to have payments made by the Health Security Board for covered services provided within the United States by a participating provider. Extends coverage to all necessary professional services of physicians, wherever furnished. Extends coverage to: (1) comprehensive dental services (exclusive of most orthodontic services) for children under age 15, with the covered age group increasing by two years each year until all those under age 25 are covered; (2) inpatient and outpatient hospital services and services of a home health agency; and (3) pathology and radiology services as parts of institutional services. Limits payment for skilled nursing home care. Limits the psychiatric hospital benefit to 45 consecutive days of active treatment during a spell of illness. Extends coverage to two categories of drug use: prescribed medicines administered to inpatients or outpatients within participating hospitals; or to enrollees of comprehensive health service organizations, and drugs necessary for the treatment of specified chronic illnesses or conditions requiring long or expensive therapy. Requires the Board and the Secretary of Health, Education, and Welfare to establish two lists of approved drugs, taking into account the safety, efficacy and cost of each drug. Lists approved medicines available for use in institutions and by comprehensive health service organizations and those available for use outside such organized settings. Declares that the appliances benefit is similar in concept and operation to the drug benefit, subject to a limitation on aggregate cost. Extends coverage to professional services of optometrists and podiatrists, subject to regulations, and diagnostic or therapeutic services furnished by independent pathology laboratories and radiology services. Excludes from coverage: (1) health services furnished or paid for under a workmen's compensation law; and (2) services of a professional practitioner if they are furnished in a hospital which is not a participating provider. Requires that participating providers meet standards established in this title or by the Board. Makes professional practitioners licensed when the program becomes eligible to practice in the State where they are licensed and requires that all newly licensed applicants for participation meet national standards established by the Board in addition to existing State standards. Establishes conditions of participation for general hospitals. Makes psychiatric hospitals eligible to participate only if the Board finds that the hospital is engaged in furnishing active diagnostic, therapeutic and rehabilitative services to mentally ill patients. Establishes conditions of participation for skilled nursing homes similar to those established for extended care facilities under Medicare. Makes provisions for the participation of home health service agencies. Allows the participation of the following as providers of health services under this Act: (1) a health maintenance organization which undertakes to provide an enrolled population either with complete health care or, at least, with complete health security services (other than institutional services, mental health or dental services) for the maintenance of health and the care of ambulatory patients; (2) a foundation sponsored by a county or other local medical society; and (3) community health centers or the like which, though furnishing services as comprehensive as are required by this Act, do not serve an enrolled or otherwise predetermined population and may not meet other requirements of this Act. Authorizes the Board to deal separately with the primary care portion of a system of comprehensive health care where it is necessary to rely on arrangements with other providers. Permits the Board to contract directly with public or other nonprofit mental health centers and mental health day care services. Specifies the conditions under which independent pathology laboratories, independent radiological services, and providers of drugs, devices, appliances, equipment, or ambulance services may qualify as providers under Health Security. Requires that a participating skilled nursing home have in effect an agreement with at least one participating hospital for the transfer of patients and medical and other information as medically appropriate. Prohibits in malpractice judgments any damages to be awarded to the injured party for the cost of medical services which he is entitled to receive under this Act. Excludes the institutions of the Department of Defense and the Veterans Administration, and institutions of the Department of Health, Education, and Welfare serving merchant seamen or Indians or Alaskan natives, from serving as participating providers, as well as any employee of these institutions when acting as an employee. Allows reimbursement for any services furnished by such institutions or agencies to eligible persons who are not a part of their normal clientele. Permits a physician, dentist, optometrist, or podiatrist, licensed in one State and meeting the national standards, to furnish Health Security benefits in any other State. Grants similar authority to other professional and nonprofessional health personnel. Establishes the Health Security Trust Fund, to receive the net assets of existing (Medicare) funds taken over by the Health Security program, the yield of the Health Security taxes, and the Government's contribution from general revenues amounting to 100 percent of the yield from these taxes. Directs that three separate accounts be established in the Health Security Trust Fund: a Health Service Account, a Health Resources Development Account, and an Administration Account. Make provision for allocation of the Health Services account among the regions of the country. Stipulates that the allocation to each region shall be based on the aggregate sum expended during the most recent 12-month period for covered services (with appropriate modification for estimated changes in the consumer price index, the expected number of eligible beneficiaries, and estimated changes in the number of participating providers). Directs the Board to divide the allocation to each region into funds available to pay: institutional services; physician services; dental services; furnishing of drugs; furnishing of devices, appliances, equipment; and miscellaneous services. Stipulates that payments for covered services provided to eligible persons by participating providers shall be made from the Health Service Account in the Trust Fund. Authorizes the Board to experiment with other methods of reimbursement so long as the experimental method does not increase the cost of service or lead to overutilization or underutilization of services. Stipulates that skilled nursing homes and home health agencies shall be paid in the same manner as a general hospital (on an approved annual budget basis). Stipulates that a health organization shall be paid for covered services, on the basis of a fixed capitation rate multiplied by the number of eligible enrollees. Authorizes special improvement grants: (1) to any public or other nonprofit health agency or institution to establish improved coordination and linkages with other providers of services; and (2) to organizations providing comprehensive ambulatory care, to improve their utilization review, budget, statistical, or records and information retrieval systems, to acquire equipment needed for those purposes, or to acquire equipment useful for mass screening or for other diagnostic or therapeutic purposes. Sets forth the responsibilities and duties of the Secretary of HEW and the Board with regard to this title. Creates an administrative structure within the Department of Health, Education, and Welfare with exclusive responsibility for the administration of the Health Security program. Establishes a five-member, full-time Health Security Board serving under the Secretary of Health, Education, and Welfare. Requires that the members be appointed by the President with the advice and consent of the Senate, for five-year overlapping terms. Establishes a National Health Security Advisory Council, with the Chairman of the Board serving as the Council's Chairman and 20 additional members not in the employ of the Federal Government. Authorizes the Advisory Council to appoint professional or technical committees to assist in its functions. Directs the Advisory Council to advise the Board on matters of general policy in the administration of the program, the formulation of regulations and the allocation of funds for services. Charges the Board with responsibility for informing the public and providers about the administration and operation of the Health Security program. Requires the Board to make a continuing study and evaluation of the program, including adequacy, quality and costs of services. Authorizes the Board to make detailed statistical and other studies on a national, regional, or local basis of any aspect of the title; to develop and test incentive systems for improving quality of care, methods of peer review of drug utilization and of other service performances; to develop and test systems of information retrieval, budget programs, instrumentation for multiphasic screening or patient services, and reimbursement systems for drugs; and to make such other studies which it considers would improve the quality of services and the administration of the program. Grants authority to the Board, in accordance with regulations, to make determinations of who are participating providers of services, determinations of eligibility, of whether services are covered, and the amount to be paid to providers. Allows a provider of services who is dissatisfied with a final Board determination to obtain a hearing before a Board panel, and judicial review of a final decision. Authorizes the Board, with the advice and assistance of the Commission on the Quality of Health Care, to issue and review regulations assuring the quality of care furnished under this Act. Requires continuing professional education by physicians, dentists, optometrists, and podiatrists. Authorizes the appointment of a Deputy Secretary of HEW and an Under Secretary for Health and Science. Stipulates that no provision of this Act shall alter any contractual obligation of an employer to provide health services to his employees and their dependents. Title II: Health Security Taxes - Converts the existing Medicare hospital insurance payroll taxes into Health Security taxes, and raises the rates to one percent on employees and 3.5 percent on employers. Excludes from the gross income of employees, for income tax purposes, payment by their employers of part or all of the Health Security taxes on the employees. Converts the existing Medicare self-employment tax into a Health Security self-employment tax, raising the rate to 2.5 percent. Adds a new one percent Health Security Tax on unearned income (unless such income is less than $400 a year), subject to the same maximum on taxable income as is applicable to the employee and self-employment taxes. Title III: Commission on the Quality of Health Care - Establishes in the Department of HEW a Commission on the Quality of Health Care, with the primary responsibility of: (1) initiating and continuing development of methods of assessing the quality of health care furnished under the Health Security Act; and (2) submitting to the Secretary and the Health Security Board its findings and recommendations. Stipulates that in carrying out its duties the Commission shall emphasize, and give first consideration to, care furnished for those illnesses and conditions which have relatively high incidence in the population and which are relatively amenable to medical or other care. Title IV: Repeal or Amendment of Other Acts - Requires that after the effective date of benefits received under this Act no State shall be required to furnish any service covered under Health Security as a part of its State plan for participation under Medicaid. Title V: Studies Related to Health Security - Authorizes the Secretary of Health, Education, and Welfare in consultation with the Secretary of State and the Secretary of the Treasury to study the coverage of health services for U.S. residents in other countries. Directs the Secretary of HEW to study the feasibility and desirability of coordinating the Federal health benefit programs for merchant seamen and Indians and Alaskan natives and also veterans and members of the Armed Forces, with the Health Security Benefit Program.
United States · United States Congress · 4 January 1977
Amends the Local Public Works Capital Development and Investment Act of 1976 to increase the amount authorized to be appropriated under such Act to $6,000,000,000.
United States · United States Congress · 1 October 1976
Amends Rule XI of the Rules of the House of Representatives to provide that committee funds shall not be used for travel unless its official nature is established by resolution approved by majority vote of the committee involved. Requires that the official travel resolution set forth specific items including the purpose of each destination, the names of all persons who propose to take the trip, the anticipated benefit to the taxpayers, and the estimated total expense.
United States · United States Congress · 22 September 1976
Condemns the murders of Orlando Letelier and Ronni Karpen Moffitt and the serious injury of Michael Moffitt. Urges a complete and thorough investigation by federal authorities of the circumstances surrounding the bombing.
United States · United States Congress · 20 September 1976
Opportunities Industrialization Centers Skills Training and National Community Based Organizations Job Creation and Employment Act - States that the purpose of this Act is to provide special authority for the Opportunities Industrialization Centers in order to create and provide job opportunities for specific unemployed persons who were particularly hard hit by the recent economic recession, and to provide opportunities for industry to create additional jobs for the unemployed in rural and urban communities. Authorizes the Secretary of Labor to enter into a contract with Opportunities Industrialization Centers, Incorporated (OIC) in order to contract with other National Community Based Organizations which provide comprehensive employment services and skills training for unemployed persons. Requires each such contract to contain provisions assuring that specific requirements are complied with, including requirements that: (1) special consideration in providing jobs will be given to unemployed persons who are most severely disadvantaged in terms of the length of time they have been unemployed; (2) due consideration will be given to persons who have participated in manpower training programs for whom unemployment opportunities would be otherwise available; and (3) the program will to the maximum extent feasible contribute to the elimination of artificial barriers to employment and occupational advancement. Sets forth special conditions to be met prior to providing financial assistance pursuant to a contract entered into under this Act. Requires the programs to contribute, to the maximum extent feasible, to the occupational development or upward mobility of individual participants. Prohibits the Secretary from providing financial assistance unless he determines that: (1) periodic reports will be submitted to him to measure the effectiveness of the program; (2) there will be no discrimination on the basis of race, creed, color, national origin, sex, political affiliation, or beliefs within the program; and (3) the participants in the program will not be employed in the construction, operation, or maintenance of sectarian religious facilities. Authorizes appropriations of sums necessary to carry out the provision of this Act.
United States · United States Congress · 16 September 1976
National School-Age Mother and Child Health Act - Amends the Public Health Service Act to authorize the Secretary of Health, Education, and Welfare to make grants to designated State agencies to meet part of the cost of planning and coordinating services for school age girls and their children. Sets forth requirements which the State plans must meet before receiving such grants, including: comprehensive health care to school-age girls (associated with the continuation of pregnancy) and to their children, family planning and counseling, infant and child day care and a coordinated program of social services. Prohibits the collection by, or submission to the Federal or State Government of identifying information of persons receiving services under this program. Authorizes the appropriation of $30,000,000 for fiscal year 1977 and for each of the next two succeeding fiscal years to carry out the purposes of this Act. Establishes a unit within the Maternal and Child Health Service of the Department of Health, Education, and Welfare to administer and coordinate the program established by this Act.
United States · United States Congress · 13 September 1976
Grants Congressional consent to retired members of the uniformed services, members of Reserve components of the Armed Services, and members of the Public Health Service Reserve Corps to accept employment with foreign governments if approved by the Secretary of State and the Secretary concerned (as defined by this Act).
United States · United States Congress · 2 September 1976
Amends the Federal Deposit Insurance Act to prohibit any financial institution from disclosing to a Federal agency any financial record of a customer unless the customer has so authorized, or unless a valid warrant, subpena or summons has been obtained according to the terms of this Act. Provides civil and criminal penalties, in addition to injunctive relief, for violations of this Act.
United States · United States Congress · 2 September 1976
National Condominium and Planned Unit Development Consumer Protection Act - Sets national standards for the sale of condominium units and for the conversion of existing rental units. States that such standards shall apply to: (1) any developer who uses any means of interstate commerce in connection with a sale or offer to sell; (2) any developer receiving federally-assisted loans; and (3) any development with more than 12 dwelling units. Requires disclosure of specified information, including a description of the development, its financing, any warranties, and a projection of annual expenditures for its upkeep. States that no dwelling unit shall be offered for sale or sold where there has been a conversion from a rental to a condominium development unless: (1) each tenant has been given an option to buy of not less than 90 days; and (2) no tenant has been required to vacate his rental unit before the end of the 30 day period after such option is no longer exercisable. Provides injunctive relief for tenants who have not been properly notified. Makes provisions for the enforcement of this Act by allowing purchasers to bring suits for actual damages and to rescind any agreement for specified failures to disclose. Grants jurisdiction to U.S. district courts, without regard to the amount in controversy, over any action brought to enforce any liability or duty under this Act. Permits any owner of a dwelling unit covered by this Act to bring a class action suit on behalf of other owners. Authorizes the Secretary of Housing and Urban Development to make, issue, amend, and rescind rules and regulations, including the prescription of standard forms, instruments, and documents for use in connection with the sale of condominium units.
United States · United States Congress · 1 September 1976
National Neighborhood Policy Act - Establishes a National Commission on Neighborhoods which will include two members each from the House and the Senate and 16 public members appointed by the President. States the duties of the Commission which include studying the factors necessary to neighborhood survival and revitalization and making recommendations for modification of existing laws and policies. Makes provisions for the administration of this Commission. Authorizes to be appropriated funds necessary to carry out this Act.
United States · United States Congress · 31 August 1976
Authorizes the Secretary of the Army, acting through the Chief of Engineers, to implement a five-year demonstration program to increase the average annual diversion of water from Lake Michigan.
United States · United States Congress · 31 August 1976
Expresses the sense of the Congress that Georgi Vins should be released from imprisonment and that the Government of the Soviet Union should allow him and all other religious believers within its borders to worship God freely, as the Soviet Union is committed to do by the provisions of its constitution and by the provisions of the United Nations Covenant on Civil and Political Rights.
United States · United States Congress · 26 July 1976
Amends the Federal Reserve Act to extend from October 31, 1976, to October 31, 1978, the temporary authority under which the Federal Reserve banks may purchase public debt obligations from the Treasury in an amount not to exceed $5,000,000,000 outstanding at any one time.
United States · United States Congress · 22 July 1976
National Consumer Cooperative Bank Act - Title I: National Consumer Cooperative Bank - Sets forth the findings of Congress that there is a need for the establishment of a National Consumer Cooperative Bank and a Cooperative Bank and Assistance Administration which will make available necessary financial and technical assistance to cooperative self-help endeavors as a means of strengthening the Nation's economy. Establishes the National Consumer Cooperative Bank. States that the Bank shall: (1) encourage the development of new and existing cooperatives eligible for its assistance by providing specialized credit and technical assistance; (2) maintain broad-based control of the Bank by its voting stockholders; (3) encourage broad-based ownership, control and active participation by members in eligible cooperatives; (4) assure that the net savings from its operations and the operations of borrowers from the Bank, are made available or accounted for to the stockholders or members of the cooperative organization; and (5) assist in improving the quality and availability of goods and services to consumers. Authorizes the creation of no less than four nor more than twelve corporate regional banks. States that the Bank shall have the power to make and service loans, commitments for credit, guarantees, furnish financially related services, technical assistance, and issue obligations. Enumerates additional powers necessary to carry out its powers and duties under this Act. Authorizes appropriations of $250,000,000 per year for the United States to purchase class A preferred stock of the Bank. Requires the Bank to hold an annual meeting of stockholders. Permits the Bank to obtain funds through the public or private sale of its bonds, debentures, notes, and other evidences of indebtedness. Authorizes the Bank to make loans to eligible organizations which shall be repayable in not more than forty years. States that the objective of the Bank shall be to provide the type of credit needed by eligible borrowers, at the lowest reasonable cost on a sound business basis, taking into account the cost of money to the Bank. Defines "eligible cooperatives" for purposes of assistance under this title as an organization chartered or operated on a cooperative, not for profit basis for producing or furnishing goods, services, facilities, or financing, primarily for the benefit of its members or voting stockholders who are ultimate consumers, if it meets specified criteria, or any other institution chartered or operated in such a way as to enhance competitive market forces or to reduce the price spread between producers and the ultimate consumers of products or services. Title II: Self-Help Development Fund - Establishes in the Treasury a Consumer Cooperative Self-Help Development Fund. Authorizes appropriations of $250,000,000 to be deposited in the Fund. Permits the Cooperative Bank and Assistance Administration to make a capital investment advance out of the Fund to any eligible cooperative if the Administration determines that the applicant's initial or supplemental capital requirements exceed its ability to obtain a Title I loan from the Bank or other sources, and the membership of the applicant consists substantially of low-income persons. Title III: Cooperative Technical Assistance - Directs the Cooperative Bank and Assistance Administration to make available information and services concerning the organization or reorganization of cooperatives to best achieve the objectives of this Act and to best provide the means through which various types of goods, services, and facilities can be made available to members and patrons. States that such assistance may include investigations, surveys, and director and management training and assistance. Authorizes appropriations to the Administration of sums necessary for the administration of this title. Title IV: The Cooperative Bank and Assistance Administration and General Provisions - Establishes the Cooperative Bank and Assistance Administration. Directs the Administration to assure that the objectives of this Act are carried out. States that until the stock of the Bank held by the United States has been fully retired the Bank shall be exempt from any form of taxation. Requires the Administration and the Board to report annually to the appropriate committee of Congress on the activities of the Administration and on the Bank's capital, operations, financial condition, the self-help development fund, and to make recommendations for legistation to improve its services. Authorizes appropriations of sums necessary to carry out the purposes of this Act, in addition to appropriations specifically authorized.
United States · United States Congress · 21 July 1976
Amends the Federal Reserve Act to extend, from October 31, 1978, to October 31, 1981, the temporary authority under which Federal Reserve banks may purchase public debt obligations from the Treasury in an amount not to exceed $5,000,000,000 outstanding at any one time.
United States · United States Congress · 1 July 1976
Human Resources Demonstration Act - Directs the President, through the Secretary of Labor, to carry out a program of demonstration projects designed to: (1) increase productivity and authorize the better use of human and natural resources in employment; (2) prevent layoffs of employees; and (3) expand employment opportunities by stimulating new investment techniques. Establishes an Advisory Committee on Human Resources and Employment Opportunities to furnish advice and assistance in the administration of the demonstration projects program. Requires the President to submit to the Congress a semi-annual report describing the demonstration projects program and the specific contracts entered into pursuant to such projects. Authorizes appropriations of sums necessary to carry out the provisions of this Act.
United States · United States Congress · 23 June 1976
National Consumer Cooperative Bank Act - Title I: National Consumer Cooperative Bank - Sets forth the findings of Congress that there is a need for the establishment of a National Consumer Cooperative Bank and a Cooperative Bank and Assistance Administration which will make available necessary financial and technical assistance to cooperative self-help endeavors as a means of strengthening the Nation's economy. Establishes the National Consumer Cooperative Bank. States that the Bank shall: (1) encourage the development of new and existing cooperatives eligible for its assistance by providing specialized credit and technical assistance; (2) maintain broad-based control of the Bank by its voting stockholders; (3) encourage broad-based ownership, control and active participation by members in eligible cooperatives; (4) assure that the net savings from its operations and the operations of borrowers from the Bank, are made available or accounted for to the stockholders or members of the cooperative organization; and (5) assist in improving the quality and availability of goods and services to consumers. Authorizes the creation of no less than four nor more than twelve corporate regional banks. States that the Bank shall have the power to make and service loans, commitments for credit, guarantees, furnish financially related services, technical assistance, and issue obligations. Enumerates additional powers necessary to carry out its powers and duties under this Act. Authorizes appropriations of $250,000,000 per year for the United States to purchase class A preferred stock of the Bank. Requires the Bank to hold an annual meeting of stockholders. Permits the Bank to obtain funds through the public or private sale of its bonds, debentures, notes, and other evidences of indebtedness. Authorizes the Bank to make loans to eligible organizations which shall be repayable in not more than forty years. States that the objective of the Bank shall be to provide the type of credit needed by eligible borrowers, at the lowest reasonable cost on a sound business basis, taking into account the cost of money to the Bank. Defines "eligible cooperatives" for purposes of assistance under this title as an organization chartered or operated on a cooperative, not for profit basis for producing or furnishing goods, services, facilities, or financing, primarily for the benefit of its members or voting stockholders who are ultimate consumers, if it meets specified criteria, or any other institution chartered or operated in such a way as to enhance competitive market forces or to reduce the price spread between producers and the ultimate consumers of products or services. Title II: Self-Help Development Fund - Establishes in the Treasury a Consumer Cooperative Self-Help Development Fund. Authorizes appropriations of $250,000,000 to be deposited in the Fund. Permits the Cooperative Bank and Assistance Administration to make a capital investment advance out of the Fund to any eligible cooperative if the Administration determines that the applicant's initial or supplemental capital requirements exceed its ability to obtain a Title I loan from the Bank or other sources, and the membership of the applicant consists substantially of low-income persons. Title III: Cooperative Technical Assistance - Directs the Cooperative Bank and Assistance Administration to make available information and services concerning the organization or reorganization of cooperatives to best achieve the objectives of this Act and to best provide the means through which various types of goods, services, and facilities can be made available to members and patrons. States that such assistance may include investigations, surveys, and director and management training and assistance. Authorizes appropriations to the Administration of sums necessary for the administration of this title. Title IV: The Cooperative Bank and Assistance Administration and General Provisions - Establishes the Cooperative Bank and Assistance Administration. Directs the Administration to assure that the objectives of this Act are carried out. States that until the stock of the Bank held by the United States has been fully retired the Bank shall be exempt from any form of taxation. Requires the Administration and the Board to report annually to the appropriate committee of Congress on the activities of the Administration and on the Bank's capital, operations, financial condition, the self-help development fund, and to make recommendations for legistation to improve its services. Authorizes appropriations of sums necessary to carry out the purposes of this Act, in addition to appropriations specifically authorized.
United States · United States Congress · 23 June 1976
Establishes in the House of Representatives a select committee to be known as the Select Committee on Narcotics Abuse and Control. Provides that the select committee shall conduct a continuing comprehensive study and review of the problems of narcotics abuse and control and shall review any recommendations made by the President, or by any department or agency of the executive branch of the Federal Government, relating to programs or policies affecting narcotics abuse or control. Authorizes the select committee to conduct field investigations or inspections. Requires the select committee to submit an annual report to the House which shall include a summary of the activities of the select committee during the calendar year to which such report applies.
United States · United States Congress · 22 June 1976
Permits the Secretary of Housing and Urban Development to initiate a civil action to enforce Federal prohibitions against discriminatory housing practices. Allows Federal courts to award private plaintiffs bringing suit out to enforce such prohibitions reasonable attorney fees whether or not such individuals are financially able to bear the cost.
United States · United States Congress · 21 June 1976
Amends the Social Security Act to authorize payment under the medicare program for specified services performed by chiropractors, including x-rays and physical examinations, and related routine laboratory tests.
United States · United States Congress · 14 June 1976
Expresses the sense of the House of Representatives that the United States Postal Service shall not close or suspend the operation of any post offices, unless there is a clear and compelling need to do so. Encourages the service to continue cost-cutting programs which do not affect levels of service.
United States · United States Congress · 10 June 1976
Recommends that the Board on Geographic Names approve a proposal to name two mountains in Alaska after the later Congressmen Hale Boggs and Nick Begich.
United States · United States Congress · 7 June 1976
Economic Development Revenue Bond Act - Amends the Internal Revenue Code to repeal the present tax exclusion for interest from industrial development bonds used to finance (1) residential real property for family units, (2) sports facilities, (3) convention or trade show facilities, (4) airports, docks, and mass commuting facilities, (5) solid waste disposal facilities or facilities for the local furnishing of electric energy or gas, (6) air or water pollution control facilities, and (7) facilities for the furnishing of water. Provides an exclusion for interest from any obligation issued as part of an issue the aggregate face amount of which is $10,000,000 or less and substantially all of the proceeds of which are used: (1) for the acquistion, construction, reconstruction, or improvement of land which is located within an economic development area or of property which is of a character subject to the allowance for depreciation and which is to be used predominantly at a location within an economic development area; or (2) to redeem part or all of a prior issue which was issued for purposes described in (1). Stipulates that the exclusion provided by this Act shall not apply with respect to any obligation for any period during which it is held by a person who is a subtantial user of the facilities or a related person. Defines an economic development area for purposes of this Act as an area certified by the Secretary of Commerce as meeting the requirements of such an area for purposes of the Public Works and Economic Development Act of 1965. States that this Act shall apply to taxable years ending after the date of enactment of this Act, but, only with repect to obligations issued after such date.
United States · United States Congress · 4 June 1976
Omnibus Energy Conservation Act - Title I: Energy Conservation in Residential Housing, Commercial and Public Buildings, and Industrial Plants - Amends the Energy Policy and Conservation Act to direct the Federal Energy Administrator to establish a voluntary standard and certification program for products designed to conserve energy in buildings. Directs the Administrator of the Federal Energy Administration to prescribe guidelines for the development and preparation of State energy conservation implementation programs. Requires that States be given an opportunity to participate in the drafting of such guidelines. Establishes eligibility criteria for State energy conservation implementation programs in order to receive Federal assistance under this Act. Imposes a preliminary requirement that the State establish a State energy conservation advisory committee to assist in the formulation of such program. Authorizes the Administrator to provide Federal financial assistance to States whose proposed energy conservation programs meet specified criteria. Lists factors to be considered in determining the amount of such assistance. Stipulates that no State shall receive more than ten percent of the national total in each category of financial assistance. Authorizes the appropriation of the following sums to assist eligible State programs: $25,000,000 for fiscal year 1977, and $50,000,000 per fiscal year for fiscal years 1978, 1979, and 1980. Authorizes the Administrator to guarantee loans and other obligations issued to finance energy conservation measures consistent with the purposes of this Act. Limits the aggregate amount of outstanding guarantees under this Act to $4,500,000,000. Limits the total amount of guarantees which may be issued to any one borrower to $2,000,000. Requires annual reports to the Congress on State energy conservation implementation programs. Amends the Energy Conservation and Insulation of Buildings Act of 1976 to authorize additional appropriations of $25,000,000 for fiscal year 1977, $50,000,000 per fiscal year for fiscal years 1978 and 1979; and $100,000,000 for fiscal year 1980 to assist low-income persons under the provisions of such Act. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to assist in the financing of energy conservation measures. Authorizes appropriations for such assistance payments of $100,000,000 for fiscal year 1977, and $200,000,000 per fiscal year for fiscal years 1978 - 1980. Amends the Small Business Act to empower the Small Business Administration to make loans to small business concerns for implementation of energy conservation measures. Limits the total amount of such loans under the Act to $300,000,000. Stipulates that the total amount of such payments to lending institutions under the Act shall not exceed $60,000,000. Title II: Implementation of Energy Conservation, Programs; Energy Efficiency Research, Development and Demonstration - Establishes in the Energy Research and Development Administration the Energy Extension Service. Directs the Service to develop and implement a comprehensive program for the identification, development, and demonstration of energy conserving practices, techniques, materials, and equipment for: (1) agricultural, commercial, and small business operations; and (2) new and existing residential, commercial, or agricultural structures. Requires that such programs include technical assistance, instruction, and practical demonstrations in energy conservation. Establishes procedures for submission of State plans for the conduct of energy extension service activities within each State in accordance with Federal guidelines. Authorizes financial assistance to States which have plans approved by the Director of the Energy Extension Service. Directs the Administrator of the Energy Research and Development Administration to prepare a plan for Federal energy education, extension, and information programs. Establishes a National Energy Extension Service Advisory Board to carry on a continuing review of Federal energy extension programs. Authorizes the Administrator of Energy Research and Development to provide financial assistance for the development of State and regional energy conservation research and development institutes on a matching basis. Directs the Administrator to establish an energy use efficiency project designed to demonstrate the feasibility of energy efficiency enhancement in the residential, commercial, industrial, and agricultural sectors. Authorizes additional research, development, and demonstration programs to increase the commercial opportunities for utilization of energy efficient systems. Directs the Administrator to develop, within 180 days after the enactment of this Act, performance standards and criteria for energy efficiency equipment and processes. Requires use by Federal agencies of newly-developed energy efficiency technologies. Directs the Administrator to study various institutional factors which may tend to bias economic sectors against the use of energy efficient systems and to report the results to the Congress.
United States · United States Congress · 1 June 1976
Small Business Growth and Job Creation Act - Title I: Small Business Independence and Continuation - Amends the Internal Revenue Code to establish graduated corporate income tax rates. Changes the holding period for capital assets from six months to one year. Establishes a new alternative tax on capital gains. Increases the estate tax exemption from $60,000 to $180,000. Establishes a new rate schedule for the estate tax. Increases the gift tax exclusion from $3,000 to $9,000, and the gift tax exemption from $30,000 to $90,000. Replaces the present gift tax schedule with a flat rate of 75 percent of whatever the estate tax on such a sum would be. Provides that a distribution of property by a corporation in redemption of stock to pay death taxes shall be treated as a distribution in full payment in exchange for the stock if all of the stock of such corporation which is included in determining the value of the decedent's gross estate is either, (1) more than 20 percent (generally, 35 percent), of the value of the gross estate of such decedent, or (2) more than 40 percent (generally, 50 percent) of the taxable estate of such decedent. Provides that if stock in a corporation is sold by a shareholder owning stock representing more than 30 percent of the fair market value of all outstanding stock of the corporation whose stock is being sold, the gain from such sale shall be recognized only to the extent that the taxpayer's sale price exceeds the cost of replacement property purchased by the taxpayer within two years. Defines "replacement property" as property which is held for the production of income or which is held for investment. Allows the executor of an estate involving an interest in a closely held business to elect to include in the value of the gross estate the decedent's basis in such business rather than the fair market value of such interest. States that the basis of property acquired from a decedent as to which such an election was made shall be the decedent's basis in such property rather than the fair market value of such interest. Allows the marital deduction of the estate tax to exceed 50 percent of the value of the adjusted gross estate when an interest in a specially defined small business is included in the estate. Title II: Small Business Growth Incentives - Allows a taxpayer to choose the cash method of accounting in any case where inventory is an income determining factor and the ending inventory for the taxable year does not exceed $200,000. Provides a deferred tax credit against taxable income for unincorporated businesses. Establishes a graduated investment tax credit. Amends the definition of a small business corporation to allow domestic corporations with up to 20 shareholders (presently, ten) to qualify for subchapter S treatment. Allows a small business to make a subchapter S election at any time during the taxable year. Allows to a business a credit equal to 50 percent of the wages paid during the taxable year to new employees, up to two employees and $20,000 for the taxable year. Allows a similar credit for new disadvantaged employees up to a maximum of $60,000 per taxable year. Allows the practical cost recovery method to be used in computing depreciation. Title III: Small Business Tax Simplification - Allows a corporation to file an application for refund of overpayment of estimated income tax at any time during the taxable year. Provides a special rule for treatment of net operating loss adjustments in the case of new corporations. Increases the minimum credit on accumulated earnings from $150,000 to $500,000. Redefines "section 1244 stock" to mean common stock in a corporation if: (1) such corporation during its preceding taxable year derived more than 50 percent of its aggregate gross receipts from sources other than royalties, rents, dividends, interest, annuities, and sales or exchanges of stock or securities; and (2) the equity capital of such corporation does not exceed $1,000,000. Increases the losses on section 1244 stock which may be treated as ordinary losses (rather than capital losses) from $25,000 to $50,000.
United States · United States Congress · 26 May 1976
Tax Credits and Allowances Act - Title I: Personal Credits Allowances for Basic Living Expenses, and other Tax Provisions - Repeals the personal exemption and provides, in lieu thereof, a credit against tax equal to the personal credits granted by this title. Provides a $225 credit for the taxpayer, and additional credits of $225 each for the taxpayer's spouse and each dependent. Authorizes prepayment of estimated personal credits to recipients of allowances for basic living expenses. Repeals the low income allowance. Provides for a standard employment expense deduction of: (1) 10 percent (but not to exceed $500) of the earned income received by the lesser compensated spouse; and (2) 10 percent (but not to exceed $1,000) of the earned income of the head of a household. Provides an allowance for basic living expenses. Specifies the requirements to be met for eligibility for receipt of such allowance, and sets forth the maximum amounts of such allowance. Authorizes the Secretary of the Treasury to promulgate regulations for the administration of this Act. Provides special rules with respect to the filing status of individuals under this Act. Provides for the coordination of allowances and credits authorized by this Act with those authorized under the educational opportunity grant program of the Higher Education Act of 1965. Authorizes to be appropriated such sums as are necessary to carry out the provisions of this title. States that gross income does not include, for the purposes of this title, amounts received by recipients as allowances for basic living expenses. Title II: Public Assistance and Welfare Reform - Amends the Social Security Act to require State Supplementation of income to families receiving aid for dependent children in the amount that the income of such families is reduced by the provisions of this Act. Provides that supplementary payments made by States under this title shall be made for a maximum period of 24 months. Changes the eligibility requirements for benefits under the supplemental security income programs of aid to aged, blind, or disabled individuals to prevent reduction of benefits received by such individuals by virtue of the provisions of this Act. States that until such time as a comprehensive program of services for families and children is developed and placed into effect, the Secretary of Health, Education, and Welfare shall provide a transitional program of specified services to such families. States that the Secretary shall develop a comprehensive program of such services within one year of the effective date of this title. Authorizes optional State supplementation of social security income benefits to ameliorate the effects of the provisions of this Act on families with disabled children. Title III: Miscellaneous and General Provisions - Provides that the total amount of State supplementation payments made under this Act may be used as an allowance offset for purposes of income taxation where the application of the provisions of this Act results in a net reduction of its basic living expense allowance or its supplemental security income benefit. Prohibits Federal assistance to child-care facilities imposing income-related fees. Makes technical and conforming amendments in other specified laws. Repeals the Food Stamp Act of 1964. Provides that obligations of the United States shall be subject to garnishment and similar proceedings to meet court-ordered alimony, child-support, and rent obligations.
United States · United States Congress · 21 May 1976
Amends the Bretton Woods Agreement Act to authorize the United States Governor of the International Monetary Fund to accept spicified amendments to the Articles of Agreement of the Fund and to consent to an increase in the United States quota in the Fund. Redefines certain actions by the President or other person or agency with respect to the International Monetary Fund and the International Bank for Reconstruction and Development which require Congressional approval. Amends the Special Drawing Rights Act to conform to the amendments to the Articles of Agreement of the Fund. Amends the Par Value Modification Act to repeal the authority of the Secretary of the Treasury to establish a new par value of the dollar. Amends the Gold Reserve Act of 1934 to set the legal standard for the value of gold held against gold certificates.
United States · United States Congress · 18 May 1976
International Banking Act - Allows a foreign bank to establish and operate a Federal branch or agency in any State in which it is not prohibited for a foreign bank to establish a branch, upon receipt or certification of authority from the Comptroller of the Currency. Allows the Comptroller to waive the requirement of citizenship in the case of not more than a minority of the total number of directors of a national bank. Requires the Comptroller, in issuing certificates of authority, to consider the effect of the branch on the domestic or foreign commerce, future prospects of the bank, and the needs of the community. Allows a foreign bank to convert any branch operated pursuant to State law into a federally-certified branch to be operated under this Act, with the approval of the Comptroller. Terminates the authority to operate a Federal branch when: (1) the parent bank voluntarily relinquished it; (2) the parent bank is dissolved; or (3) the Comptroller has reasonable cause to believe that a foreign bank has not complied with the provisions of this Act and revokes the authority to operate a Federal branch. Sets forth the assets which foreign banks are required to keep on deposit before the Federal branch may accept deposits of United States residents or businesses. Prohibits foreign banks from retaining interests in non-banking companies or from participating in non-banking activities with specified exceptions. Requires the Secretary of the Treasury to issue guidelines with respect to the banking operations of foreign banking organizations in banking in the United States. Requires each foreign bank that maintains an office other than a branch or agency in a State to register with the Secretary of the Treasury.
United States · United States Congress · 13 May 1976
Minority Enterprise Act - Title I: Amendments Affecting the Small Business Act - Amends the Small Business Act to establish the Office of Minority Small Business Assistance Personnel in the Small Business Administration (SBA) to work with all agencies of the Government having procurement powers in order to identify contracts suitable for minority concerns and within each regional office of the SBA to supervise and coordinate minority small business programs. Defines the term "minority" as used under this Act. Directs the Administrator of the SBA to appoint an Associate Administrator for Minority Small Business and Procurement Assistance. Increases the authorization for appropriations in the small business loan program and requires that not less than 25 percent of aggregate direct loans shall be made to minority small business concerns. Increases the authorization for appropriations for the equal opportunity loan program. Provides statutory standards for contracting and subcontracting by the United States with respect to minority businesses. Directs the Administration to prepare and publish in the Federal Register rules governing the maximum size of small business concerns qualified to receive procurement assistance under the Small Business Act. Requires that the Administration shall report to Congress and the President concerning the development of minority small businesses. Authorizes $201,600,000 to be appropriated for purposes of this title. Title II: Amendments to the Federal Property and Administrative Services Act of 1949 - Requires that a Utilization of Minority Business Enterprises clause appear in specified Government contracts. Defines "minority business enterprise" for purposes of this title. Requires that specified Government contractors establish and conduct a Minority Business Enterprises Subcontracting Program which includes: (1) designation of a liason officer to administer the contractor's program; (2) consideration of the potentialities of minority business enterprises in all "make or buy" decisions to provide materials or service; and (3) maintenance of records concerning procedures adopted and subcontracts awarded. Sets forth other preferences which will be extended to minority business enterprises. Title III: Commission on Federal Assistance to Minority Enterprise - Establishes the Commission on Federal Assistance to Minority Enterprise composed of 15 members to be appointed by the President with the consent of the Senate, from members of minority groups who are knowledgeable in minority participation in the economy. Provides for the compensation and terms of office of the members and the appointment of an Executive Director. Directs the Commission to develop methods for delivery of financial assistance to minority enterprise; for generating markets for goods and services; and for providing effective business education and technical assistance. Grants the Commission powers including: the holding of hearings, and information gathering from any agency of the U.S., in order to carry out the goals of this Act. Requires that the Commission shall submit semiannual reports to each House of Congress concerning its activities. Authorizes $748,000 to be appropriated for fiscal year 1977.
United States · United States Congress · 3 May 1976
Establishes an Art Bank in Congress for the purpose of selecting American works of art for display in the House and Senate Office Buildings. Establishes a five-member board of directors to administer such Art Bank, such directors being Members of Congress. Establishes the full-time salaried position of Executive Director to assist the board in the administration of the Art Bank. Authorizes the Art Bank to receive for display works of art of any United States citizen who transmits such work of art to the Art Bank at his or her own expense within two years after the creation of such work. Provides for the return to such artist of any such work after it has been displayed or designated as unsuitable for display. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act during fiscal year 1976 through 1979.
United States · United States Congress · 13 April 1976
International Banking Act - Title I: International Banking - Allows a foreign bank to establish and operate a Federal branch in any State in which it is not prohibited for a foreign bank to establish a branch, upon receipt of certification of authority from the Comptroller of the Currency. Allows the Comptroller to permit one-third of the directors of a national bank to be non-citizens of the United States. Directs the Comptroller to consider the views of the Secretary of State, the Secretary of the Treasury, the Board of Governors of the Federal Reserve System, and the bank supervisory authority of the State where the branch is to be located in deciding whether to issue certificates of authority to foreign banks to operate under this Act. Prohibits the Comptroller from issuing such certificates if the establishment of the branch would adversely affect the domestic or foreign commerce, or otherwise would not be in the interests of the United States. Allows a foreign bank to convert any branch operated pursuant to State law into a federally-certified branch to be operated under this Act. Terminates the authority to operate a Federal branch when (1) the parent bank voluntarily relinquishes it; (2) the parent bank is dissolved; or (3) the Comptroller has reasonable cause to believe that a foreign bank has not complied with the provisions of this Act and revokes the authority to operate a Federal branch. Sets forth the assets which foreign banks are required to keep on deposit before the Federal branch may accept deposits of United States residents or businesses. Prohibits foreign banks from retaining interests in non-banking companies or from participating in non-banking activities with specified exceptions. Requires the Secretary of the Treasury (1) to issue guidelines with respect to the entry of foreign banking organizations into banking in the United States; and (2) to assist Federal and State banking agencies in acting on applications for the establishment of branches by foreign banks. Requires each foreign bank that maintains an office other than a branch in a State to register with the Secretary of the Treasury.
United States · United States Congress · 7 April 1976
Financial Reform Act - Title I: Credit Unions - Revises the definition of terms used in the Federal Credit Union Act. Changes the application approval guidelines for granting insurance to member accounts. Provides that the par value of shares for Federal credit unions may range from $5 to $25. Expands the loan making power of Federal credit unions to include: (1) residential real estate loans; and (2) loans to finance the purchase of mobile homes. Extends the allowable investment possibilities for Federal credit unions to include obligations of the District of Columbia and several of its territories and possessions. Allows Federal credit unions to deposit funds in any bank or trust company insured by the Federal Deposit Insurance Corporation and in any credit union operating in a foreign country which has been approved by the Department of Defense. Establishes in the executive branch of the Government an independent agency to be known as the National Credit Union Administration. States that the Administration shall be under the management of a National Credit Union Administration Board, consisting of three members appointed by the President by and with the advice and consent of the Senate. Adds a Title III (National Credit Union Administration Discount Fund) to the Federal Credit Union Act. Establishes a National Credit Union Administration Discount Fund within the National Credit Union Administration to provide funds to meet the temporary liquidity needs of credit unions including emergency needs, seasonal needs, and needs arising from local economic dislocations. Provides for the management and capitalization of the such Fund. Enumerates the powers of the Board Administering the National Credit Union Administration Discount Fund including the right: (1) to sue and be sued, complain and defend, in any court of law or equity, State or Federal, and to remove any action from a state to a district court; (2) to prescribe rules and regulations which are necessary and appropriate to carry out the provisions of this title; (3) to issue debentures, bonds or other obligations to the Secretary of the Treasury; and (4) to make deposits in federally insured banks, mutual savings banks, savings and loan associations and credit unions. Provides that any member of the Discount Fund shall be entitled to apply for advances in a prescribed manner and that the Board shall prescribe security upon which the advances shall be made. Describes the obligations of the member of the Discount Fund who receives the advance. Requires that not later than 90 days after the close of each calendar year the Board shall prepare and submit to the President and to the Congress a full report of the activities of the Discount Fund for the previous calendar year. Authorizes to be appropriated such sums as may be necessary to pay the administrative expenses of the Board. Grants tax-exempt status to the Discount Fund. Requires that the Board maintain an integral set of accounts of the Discount Fund which shall be audited by the Government Accounting Office. Makes technical amendments to the Federal Credit Union Act in keeping with this title. Title II: Banks and Savings and Loan Associations - Amends the Home Owners' Loan Act of 1933 to direct the Home Loan Bank Board to cause Federal savings and loan associations to be primarily long-term residential mortgage lenders. Enumerates the investments and dealings which can be made by such associations including: (1) loans secured by or made with respect to or for the acquisition, development, construction, improvement, or alteration of real property which primarily comprises or is to comprise or include one or more homes or dwelling units; (2) permanent financing in connection with any construction or development loan; (3) loans to, or other securities or instruments issued by, or having the benefit of any insurance, guaranty, or assistance of the United States, a State, political subdivision or specified housing programs; and (4) additional consumer, student, construction, and other loans but not to exceed an aggregate amount which exceeds 20 percent of its total investments. Specifies that an association may act as custodian or trustee with respect to any securities issued or guaranteed by a financial insitution the accounts of which are insured by the Federal Savings and Loan Insurance Corporation or issued or guaranteed by an affiliate of one or more of such institution. Provides that one or more associations may establish, maintain, or invest in common funds. Authorizes the Home Loan Bank Board to provide for the organization, incorporation, conversion, examination, operation, and regulation, under such rules, regulations (including definitions of terms used in this Act), or orders as prescribed by this Act. Provides for the conversion of State-chartered mutual banks into Federal savings banks. Authorizes each Federal home loan bank to make advances to financial institutions during any period that the Home Loan Bank Board determines that credit is not readily available upon reasonable terms to prospective purchasers of residential real property. Sets requirements which shall be followed in connection with any such advance. Allows the Board to prescribe rules in this regard. Permits the Board to direct the sale of obligations of Federal home loan banks to the Federal Financing Bank or the Secretary of the Treasury. Amends the Federal Deposit Insurance Act to require periodic reporting of material transactions, including loans and other extensions of credit between any insured bank and its affiliates or any inside director or beneficial holder of more than five percent of the outstanding voting securities. Requires that each insured bank which exercises trust powers shall publicly disclose its practices, procedures, and policies to prevent abuses in connection with conflicts of interests. Establishes a civil penalty of up to $1,000 per day for each day during which specified violations of the Federal Reserve Act occur. Prohibits member banks of the Federal Reserve System from making loans or extensions of credit to any of their officers, directors, or to specified other persons who have an interest in such bank where such loan or extension of credit exceeds the statutory limits on loans to one borrower. Extends such prohibition, under the Federal Deposit Insurance Act, to non-member insured banks. Authorizes the Board of Governors of the Federal Reserve Board, under the Bank Holdings Company Act, to order a bank holding company to terminate activity or ownership or control of any subsidiary when the Board has reason to believe that the continuation of such activity, ownership, or control constitutes a serious risk to the financial safety of the subsidiary. Revises the Federal Deposit Insurance Act to make directors, officers, employees, and agents as well as insured banks subject to cease-and-desist proceedings, and to temporary cease-and-desist orders. Makes procedural changes to be followed with respect to removal of officers or directors. Establishes a civil penalty of up to $21,000 per day for any bank insured under the Federal Deposit Insurance Act or for any officer, director, employee, or agent for such bank who violates the terms of any cease-and-desist proceeding or cease-and-desist order issued pursuant to this Act. Provides for prompt action on any application for acquisitions or merger when such action is necessary to prevent failure of a bank. Makes technical amendments to the Saving's Clause of the Bank Holding Company Act to insure the legality of such immediate action. Makes miscellaneous amendments to the Federal Deposit Insurance Act. Sets forth procedures dealing with the acquisition of foreign branches. Authorizes a State non-member insured bank, under specified restrictions, to acquire and hold stock in banks organized under the law of a foreign country. Reduces from three to two the number of directors required to attest to the validity of a report of condition. Specifies events which shall be assumed to relieve an insured bank of liability for deposits. Limits any claims of a landlord for damages or indemnity for injury from rejection or abandonment of an unexpired lease of real property to an insured bank which has been closed. Amends the Bank Holding Company Act to provide an opportunity for either House of Congress to veto a determination by the Board of Governors of the Federal Reserve System of which activities are so closely related to banking or managing or controlling banks as to be a proper incident thereto, for purposes of this Act. Makes amendments to this Act to prohibit further bank holding company acquisitions of savings and loan associations. Requires that each bank holding company shall have a reasonable member of unaffiliated directors on each of its executive committees. Amends the Truth in Lending Act to require each federally insured bank, institution, and credit union to disclose competitive rates. Title III: Deposit Interest Rates - Establishes the Deposit Interest Rate Control Committee which shall be composed of the Secretary of the Treasury and the Chairmen of the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, and the Federal Home Loan Bank Board. Directs the Committee to so fix and adjust limitations on interest rates as to: (1) provide a reasonable rate of return to the small saver; (2) protect depository institutions from disintermediation; and (3) avoid undue competitive advantages among competing types of depository institutions. Directs the Committee to: (1) prescribe rules limiting the payment and governing the advertisement of interest or dividends on specified deposits and accounts; (2) prescribe different rate limitations for different classes of deposits; (3) prohibit banks or institutions subject to regulation to pay any time deposit before its maturity except under specified conditions; and (4) bring action to enjoin non-insured banks from activities which would constitute a violation of this title. Specifies the allowable interest rate with respect to time and savings deposits. Requires that the Committee submit to Congress an annual report setting forth its actions during the preceding years and a special report at the expiration of its time and saving account authority. Provides civil penalties not to exceed $100 per day for violations of this title. Title IV: Regulatory Agencies - Amends the Home Loan Bank Act to include the qualifications necessary to become a Federal Home Loan bank Board member. Provides for a five year term for members of the Board. Amends the Federal Deposit Insurance Act to include the qualifications necessary to become a member on the Board of Directors of the Federal Deposit Insurance Corporation. Makes amendments as to appropriated funds for expenses of specified regulatory agencies.
United States · United States Congress · 6 April 1976
Establishes in the House of Representatives the Select Committee on Nuclear Proliferation and Nuclear Export Policy. Directs the Committee to conduct a full and complete study of: (1) the threat of nuclear proliferation; (2) the present policies of the United States concerning nuclear proliferation; (3) the decisionmaking process within the executive branch on nuclear export policies; and (4) any related areas which the committee deems necessary to investigate and study to discharge its responsibilities. Directs the committee to report to the House as soon as practicable the results of its investigation and study, together with such recommendations as it deems advisable.
United States · United States Congress · 31 March 1976
Federal Reserve Reform Act - Amends the Federal Reserve Act to change the process by which the chairman of the Board of Governors is appointed. States that the chairman will be appointed by the President by and with the advice and consent of the Senate. Provides that the term of the chairman and vice chairman of the Board shall expire upon the expiration of his term as a member of the Board, or six months after the term of the President appointing him is scheduled to expire, or six months after the person appointing him ceases to be the President, whichever occurs first. Changes the enumerated powers of the Federal Reserve banks to include the appointment of a first vice president who will serve a term of five years. Provides for the expiration of the term of the Federal Reserve bank presidents. Requires the Federal Open Market Committee to meet in Washington, D.C. at least four times each year. Provides for the membership of such Committee. States that vacancies in the board of directors of Federal Reserve banks shall be filled without discrimination on the basis of race, sex, or national origin, and with due consideration to the interests of labor, education, and consumers. Requires the Chairman of the Board of Governors of the Federal Reserve System to report to Congress its policies on monetary affairs on a quarterly basis.
United States · United States Congress · 15 March 1976
Establishes the Frederick Law Olmsted Home and Office in Brookline, Massachusetts, as a national historic site. Authorizes to be appropriated sums as may be necessary to carry out the provisions of this Act.
United States · United States Congress · 11 March 1976
Prohibits the filing of joint returns, under the Internal Revenue Code, unless each spouse verifies, by oath or affirmation, that such spouse has equal ownership, management, and control of the income, assets, and liabilities of the marriage partnership.
United States · United States Congress · 9 March 1976
Alaskan Natural Gas Pipeline Authorization Act - Expresses the intent of Congress that the Alaskan natural gas pipeline be constructed promptly, without further administrative or judicial delay or impediment. Declares that the most efficient and economical method available for the transportation of Alaskan natural gas is a pipeline system from northern Alaska, across Canada, to the lower forty-eight States. Directs the Federal Power Commission to issue all necessary permits and authorizations in order to expedite the construction and operation of such pipeline within 60 days of the date of enactment of this Act. Grants the holders of such permits the powers of eminent domain under the Natural Gas Act. Directs the Secretary of the Interior and other appropriate Federal officials to issue all necessary permits and take appropriate action within 60 days to expedite the enforcement of all rights-of-way related to the construction and operation of such pipeline. Authorizes the Secretary to modify the pipeline route through the States to provide greater environmental protection during the construction period. Requires compliance with requirements of the Mineral Leasing Act of 1920 relating to the rights-of-way for pipelines through Federal lands. Exempts such pipeline from requirements regarding (1) environmental protection, (2) technical and financial capacity of applicants, (3) public hearings, (4) licensing requirements for crude oil under the Export Administration Act of 1969, and (5) furnishing of specified information and reports. Authorizes the Secretary and the Commission to waive procedural requirements of Federal law where desirable to accomplish the purposes of this Act. Declares that (1) the actions of Federal officers and agencies under this Act and (2) the legal or factual sufficiency of any environmental statement relative to such pipeline under provisions of the National Environmental Policy Act of 1969 shall not be subject to judicial review of the courts. Allows the claims that (1) this Act is unconstitutional, (2) actions under this Act will deny Constitutional rights, and (3) actions taken are beyond the scope of authority conferred by this Act, provided that such claims are filed within 60 days following the date of the challenged action. Declares that exclusive jurisdiction shall be vested in the United States District Courts, and that review of any final order shall be had only upon direct appeal to the United States Supreme Court. Declares that the power to issue injunctive relief against the issuance of any certificate, except in cases where a final judgment is entered. Declares that authorizations issued pursuant to this Act shall grant no immunity from Federal antitrust laws.
United States · United States Congress · 4 March 1976
Establishes a Commission on Security and Cooperation in Europe. Authorizes and directs the Commission to monitor the acts of the signatories to the Final Act of the Conference on Security and Cooperation in Europe (Helsinki Agreement) with respect to their compliance with the articles of such Act, particularly with regard to the provisions relating to cooperation in humanitarian fields. Stipulates that the Commission shall be composed of four Members of the House of Representatives, four Senators, and one member each of the Departments of State, Defense, and Commerce, as appointed by the President.
United States · United States Congress · 2 March 1976
Directs the Secretary of the Treasury and other Federal officials to initiate negotiations within the framework of the Organization for Economic Cooperation and Development and the International Monetary Fund with the intent of developing an appropriate code of conduct and specific trading obligations among governments, together with suitable procedures for the settlement of disputes.
United States · United States Congress · 19 February 1976
Authorizes and requests the President to issue a proclamation designating the week beginning on the first Saturday after the first Tuesday in January of every year as "National Ski Week."
United States · United States Congress · 10 February 1976
Expresses the solidarity of the American people in efforts to enlarge human freedom by the participants in the second Brussels conference, February 17 to 19, 1976.
United States · United States Congress · 9 February 1976
Lifeline Rate Act - Stipulates that no rate schedule of an electric utility shall result in a greater per kilowatt-hour charge to residential electric consumers for a subsistence quantity of electric energy than the lowest charge to any other electric consumer. Sets forth procedures for civil suits and judicial review where violations by utilities as regulatory authorities are alleged under this Act.
United States · United States Congress · 4 February 1976
Authorizes the expenditure of $2,079,113 by the House Committee on Banking, Currency and Housing for inquiries and investigations. Allocates $150,000 to be expended for the procurement of consultant services. Requires the chairman of the Committee to furnish the Committee on House Administration information with respect to any study or investigation intended to be financed from such funds.
United States · United States Congress · 3 February 1976
Internal Revenue Administration Act - Establishes the Internal Revenue Administration in the executive branch of the Federal Government for the purpose of administering and enforcing the Internal Revenue Code. Prescribes the terms and conditions of office for the Administrator of the Internal Revenue Administration. Transfers all present functions, instructions, rules, or regulations which were promulgated or administered by the Secretary of the Treasury of his delegate with respect to the enforcement of the Internal Revenue Code, to the Internal Revenue Administration.
United States · United States Congress · 27 January 1976
Expresses the sense of the House of Representatives that the people of Angola should be allowed to determine their own political future without foreign interference. Expresses support for efforts by the Organization of African Unity to achieve a settlement of the conflict in Angola. Calls upon all countries to terminate military assistance to any group in Angola. States that the President should do his utmost to seek an agreement among the various parties involved in hostilities or in the support of such hostilities in Angola to terminate such hostilities. Directs the President to refrain from providing assistance of any kind, for military activities in Angola, until specifically approved by Congress.
![Official portrait of Rep. Reuss, Henry S. [D-WI-5]](https://www.congress.gov/img/member/r000165_200.jpg)