United States · United States Congress · 5 January 1993
TABLE OF CONTENTS: Title I: Provisions Relating To Individuals Subtitle A: Provision Relating to Earned Income Credit Subtitle B: Provisions Relating to Rollover of Gain on Sale of Principal Residence Subtitle C: Other Provisions Title II: Pension Simplification Subtitle A: Simplified Distribution Rules Subtitle B: Increased Access to Pension Plans Subtitle C: Nondiscrimination Provisions Subtitle D: Miscellaneous Simplification Title III: Treatment Of Large Partnerships Subtitle A: General Provisions Subtitle B: Provisions Related to TEFRA Partnership Proceedings Title IV: Foreign Provisions Subtitle A: Simplification of Treatment of Passive Foreign Corporations Subtitle B: Treatment of Controlled Foreign Corporations Subtitle C: Other Provisions Title V: Treatment of Intangibles Title VI: Other Income Tax Provisions Subtitle A: Provisions Relating to Subchapter S Corporations Subtitle B: Accounting Provisions Subtitle C: Provisions Relating to Regulated Investment Companies Subtitle D: Tax-Exempt Bond Provisions Subtitle E: Insurance Provisions Subtitle F: Other Provisions Title VII: Estate And Gift Tax Provisions Title VIII: Excise Tax Simplification Subtitle A: Fuel Tax Provisions Subtitle B: Provisions Related to Distilled Spirits, Wines, and Beer Subtitle C: Other Excise Tax Provisions Title IX: Administrative Provisions Subtitle A: General Provisions Subtitle B: Tax Court Procedures Subtitle C: Authority for Certain Cooperative Agreements Tax Simplification Act of 1993 - Title I: Provisions Relating to Individuals - Subtitle A: Provisions Relating to Earned Income Credit - Amends the Internal Revenue Code to repeal the supplemental young child credit and revise and increase the earned income credit. Subtitle B: Provisions Relating to Rollover of Gain on Sale of Principal Residence - Allows gain to be rolled over from one residence to another in the order the residences are purchased and used, regardless of reasons for the sale of the old residence. Sets forth a two-year residence rule for taxpayers who sell a residence pursuant to a divorce or marital separation for purposes of determining the rollover of gain on the sale of a principal residence. Subtitle C: Other Provisions - Provides an exception to the passive loss rules if the loss does not exceed $200. Permits the payment of taxes by credit cards to the extent provided by regulations. Modifies the election to claim a child's unearned income on the parent's return. Establishes a foreign tax credit limitation for individuals whose gross income is from sources outside the United States, consists entirely of qualified passive income, and the amount of creditable foreign taxes does not exceed $200. Excludes certain personal transactions from foreign currency rules. Requires the Secretary to report to specified congressional committees on expanded access to simplified individual income tax returns and other actions taken to simplify them. Provides that the amount allowed as a deduction to rural mail carriers for the business expense of a vehicle shall be equal to qualified reimbursements. Amends the Technical and Miscellaneous Revenue Act of 1988 to repeal the rule on the business use of automobiles by rural mail carriers. Exempts from the luxury excise tax parts for accessories installed for use of passenger vehicles by disabled individuals. Limits the exclusion of combat pay from withholding to the amount excludable from gross income. Title II: Pension Simplification - Subtitle A: Simplified Distribution Rules - Repeals: (1) the $5,000 limitation on the exclusion of employees' death benefits; and (2) the five-year forward income averaging for lump-sum distributions. Establishes a method of taxing annuity payments by taking into account the investment in the contract and the number of anticipated payments. Requires qualified plans to allow participants to elect to have distributions transferred directly to another qualified plan. Subtitle B: Increased Access to Pension Plans - Modifies certain simplified employee pensions with respect to allowable participants and participation requirements. Allows local governments and tax-exempt organizations to participate in cash or deferred arrangements. Authorizes the Secretary, as a condition of sponsorship, to prescribe rules defining the duties and responsibilities of certain master and prototype retirement plans. Subtitle C: Nondiscrimination Provisions - Redefines the term "highly compensated employee" for pension, profit sharing, stock bonus plan, etc. purposes. Makes such an employee one who is a five-percent owner or who has compensation from the employer in excess of $50,000. Provides a special rule where not employees are treated as highly compensated. Provides alternative methods of satisfying the special nondiscrimination requirements applicable to elective deferrals and employer matching contributions. Modifies the two-part nondiscrimination test for elective contributions under cash or deferred arrangements by permitting the use of the average deferral percentage for nonhighly compensated employees for the preceding year to be used in determining the permitted average deferral percentage for highly compensated employees for the current year. Subtitle D: Miscellaneous Simplification - Revises the definition of a leased employee to mean one whose services are performed under the control of a service recipient, instead of one whose services are historically performed by employees. Provides that the cost-of-living adjustment with respect to any calendar year is based on the increase in the applicable index as of the close of the calendar quarter ending September of the preceding calendar year. Requires the rounding of such amounts. Establishes a contribution limit for owner-employees of retirement plans. Eliminates the special vesting rule for multiemployer plans. Permits certain employers to elect an alternative full funding limitation with respect to any defined benefit plan based solely on the accrued liability under such plan. Requires the Secretary to adjust the 150-percent current liability full funding limit for other plans if there is a revenue shortfall. Allows rural cooperative plans which include cash or deferred arrangements to make distributions to participants after attainment of age 59 1/2. Modifies the treatment of governmental plans with respect to limits on contributions and benefits. Makes the social security retirement age the uniform retirement age for purposes of discrimination testing. Makes uniform the penalty provisions applicable to certain pension reporting requirements. Defines affiliated employers for Treasury regulation purposes with respect to tax-exemption. Treats certain nonunion air pilots as a separate class of employees for nondiscrimination testing purposes. Provides special rules for distributions of deferred compensation plans of State and local governments and tax-exempt organizations. Provides that, for purposes of the excise tax, an employer reversion does not include certain amounts paid to the Federal Government by reason of certain government contracting regulations. Requires continuation of health coverage for employees, including retired employees, of failed financial institutions. Declares that the health care continuation plan maintained by the Federal Deposit Insurance Corporation on June 25, 1992, and any other substantially similar plan maintained by such Corporation, satisfies continuation coverage requirements. Title III: Treatment of Large Partnerships - Subtitle A: General Provisions - Establishes special rules for large partnerships (250 or more partners) with respect to: (1) determining the income tax of a partner; (2) computing the taxable income of a large partnership; and (3) treatment of contributed property. Provides that a large partnership does not include one where: (1) substantially all of the activities involve the performance of personal services by individuals owning interests in such partnerships; or (2) 50 percent or more of partnership assets consist of oil or gas properties. Establishes simplified audit procedures for large partnerships. Requires a partner's return to be consistent with the partnership return. Allows partnerships to take adjustments into account through an imputed underpayment procedure or a flow-through-to-partners procedure. Authorizes and directs the Secretary to make adjustments at the partnership level in any partnership item to the extent necessary to have such item treated in the manner required, after notifying the partnership of such adjustment through certified or registered mail. Specifies certain restrictions on such adjustments. Provides for judicial review of such adjustment with the Tax Court, the appropriate district court, or the Court of Federal Claims. Prohibits any adjustments from being made three years after the later of the date on which the return was filed, or the last day for filing such return, except in specified cases. Allows a partnership to file a request for an administrative adjustment of partnership items during such time periods and provides for judicial review where such request is not allowed in full. Requires large partnerships to furnish information returns to partners by the first March 15 following the close of the partnership's tax year. Authorizes the Secretary to require large partnerships, or any other partnership with 250 or more partners, to file their returns on magnetic media. Subtitle B: Provisions Related to TEFRA Partnership Proceedings - Revises and sets forth new provisions relating to TEFRA (Tax Equity and Fiscal Responsibility Act of 1982) partnership proceedings. Provides for a declaratory judgment procedure in the Tax Court for treatment of non-partnership items with respect to an oversheltered return. Describes an oversheltered return as one which above no taxable income and a net loss from partnership items. Provides for the partnership return to be determinative of the audit procedure to be followed. Suspends the period of limitations for making assessments for a partner who is named in a bankruptcy petition. Provides a special rule for a tax matters partner in bankruptcy. Permits a small partnership to have a C corporation as a partner. Excludes a partial settlement agreement from the one-year limitation on assessment. Provides that if a TEFRA statute extension agreement is entered into, that agreement also extends the statute of limitations for filing refund claims until six months after the expiration of the limitations period for assessments. Provides a prepayment forum and a refund forum for raising the innocent spouse defense in TEFRA cases. Provides that partnership level proceedings include a determination of the applicability of penalties at the partnership level. Allows partners to raise any partner-level defenses in a refund forum. Specifies that an action to enjoin premature assessments of deficiencies attributable to partnership items may be brought in the Tax Court. Permits a party to appear before a court for the sole purpose of asserting that the period of limitations for assessing any tax attributable to partnership items has expired for that person. Provides for the treatment of premature petitions filed by notice partners or five-percent groups. Provides that the amount of the bond to stay assessment and collection should be based on the Tax Court's estimate of the aggregate liability of the parties to the action (and not all of the partners in the partners in the partnership). Suspends interest where there is a delay in computational adjustment resulting from TEFRA settlements. Grants a partner seven years (in lieu of three years) to request an administrative adjustment with respect to bad debts or worthless securities. Title IV: Foreign Provisions - Subtitle A: Simplification of Treatment of Passive Foreign Corporations - Repeals foreign personal holding company rules and foreign investment company rules. Exempts foreign corporations from the accumulated earnings tax and personal holding company rules. Provides for the treatment of personal service contracts under controlled foreign corporation rules. Replaces repealed provisions with revised rules for passive foreign corporations. Provides for taxing U.S. income on stock in passive foreign corporations through three alternative methods: (1) mark-to-market; (2) current inclusion; and (3) interest charge on excess distributions. Subjects less-than-25-percent shareholders of passive foreign corporations that are not U.S.-controlled, and who do not elect current inclusion, to the mark-to-market method or the interest-charge method for taxing income. Provides that if a passive foreign corporation is U.S.-controlled then every U.S. person owning stock in such corporation is subject to income inclusions under a modified version of controlled foreign corporation rules. Declares with regard to the mark-to-market method that: (1) if the fair market value of stock exceeds its adjusted basis, then the U.S. person shall include in gross income an amount equal to the amount of the excess; and (2) if the adjusted basis of stock exceeds the fair market value then the person shall be allowed a deduction equal to the lesser of the amount of such excess, or the unreversed inclusions. Describes a passive foreign corporation as any foreign corporation if: (1) 60 percent or more of its gross income is passive income; (2) the average percentage of assets which produce passive income or which are held for the production of passive income is at least 50 percent; or (3) such corporation is registered under the Investment Company Act of 1940, either as a management company or as a unit investment trust. Provides for the treatment of mark-to-market gain for purposes of the excise tax on undistributed income of regulated investment companies. Subtitle B: Treatment of Controlled Foreign Corporations - Provides that if a controlled foreign corporation sells or exchanges stocks in other foreign corporations, then gain recognized on such sale or exchange shall be included in the gross income of such corporation as a dividend to the same extent that it would have been included if such corporation were a U.S. person. Authorizes the Secretary to prescribe simplified methods for determining the amount of increase of limitations on the foreign tax credit. Revises provisions concerning: (1) determining pro rata share of gain from certain sales or exchanges of stock in certain foreign corporations; (2) basis adjustments in stock held by lower-tier foreign corporations; (3) determination of previously taxed income in redemptions through use of related corporations; and (4) treatment of branch profits tax exemptions or reductions. Extends the application of the indirect foreign tax credit to certain controlled corporations below the third tier. Requires the Secretary to report to specified congressional committees on a study of the investments by controlled foreign corporations in U.S. property. Subtitle C: Other Provisions - Establishes new rules for the translation of certain accrued foreign taxes. Modifies present rules for translating all other foreign taxes. Permits the use of the simplified limitation on the foreign tax credit in determining the alternative minimum tax foreign tax credit. Modifies the excise tax on outbound transfers to avoid income tax. Title V: Treatment of Intangibles - Allows an amortization deduction with respect to certain intangible property that is acquired and held by a taxpayer in connection with the conduct of a trade or business or an activity engaged in for the production of income. Describes an amortizable intangible as: (1) goodwill; (2) going concern value; (3) certain specified types of intangible property that generally relate to workforce, information base, know-how, customers, suppliers, or other similar items; (4) any license, permit, or other right granted by a governmental unit, agency, or instrumentality; (5) any covenant not to compete (or other arrangement to the extent that the arrangement has substantially the same effect as a covenant not to compete entered into in connection with the direct or indirect acquisition of an interest in a trade or business or substantial portion thereof; and (6) any franchise, trademark, or trade name. Excludes from treatment as an amortizable intangible: (1) any interest in a corporation, partnership, trust, or estate; (2) any interest under an existing futures contract, foreign currency contract, national principal contract, interest in a trade or other similar financial contract; (3) any interest in land; (4) certain computer software; (5) certain interests in films, sound recordings, video tapes, books, or other similar property; (6) certain rights to receive tangible property or services; (7) certain interests in patents or copyrights; (8) any interest under an existing lease of tangible property; (9) any interest under an existing indebtedness (except for the deposit base and similar items of a financial institution; and (10) a franchise to engage in any professional sport, and any item acquired in connection in such a franchise. Sets forth special rules governing the application of the amortization deduction. Provides for the treatment of certain computer software and leased property depreciation deductions excluded from the amortization rules. Continues the present-law treatment of certain contingent amounts that are paid or incurred on account of the transfer of a franchise, trademark, or trade name. Provides for the treatment of assumption reinsurance transactions of insurance companies. Requires the Secretary to report annually to the House Committee on Ways and Means and the Senate Committee on Finance on: (1) the implementation and effects of amendments made with respect to the amortization of goodwill and other intangibles; and (2) outstanding cases with respect to such amortization. Provides for the treatment of certain payments to retired or deceased partners. Title VI: Other Income Tax Provisions - Subtitle A: Provisions Relating to Subchapter S Corporations - Allows the Secretary to validate on invalid S corporation election by a small business corporation where the failure to properly elect S status was inadvertent or untimely. Provides that adjustments for distributions by an S corporation during a taxable year are taken into account before applying the loss for a year in determining the amount in the accumulated adjustment account. Repeals the rule that treats an S corporation in its capacity as a shareholder of another corporation as an individual. Repeals the rule that an S corporation may not be a member of an affiliated group of corporations. Eliminates the need to keep records of certain generally small amounts of earnings arising before 1983. Provides for the treatment of inherited stock. Subtitle B: Accounting Provisions - Revises the look-back method for long-term contracts and provides that for purposes of such method, only one rate of interest is to apply for each accrual period. Provides a method for capitalizing certain indirect costs. Subtitle C: Provisions Relating to Regulated Investment Companies - Repeals the requirement that less than 30 percent of the gross income of a regulated investment company be derived from the sale or disposition of any of the following which were held for less than three months: (1) stocks or securities; (2) options, futures, or forward contracts (other than those on foreign currencies); or (3) certain foreign currencies. Requires a broker to include on an information return with respect to gross proceeds from any disposition of stock in an open-end regulated investment company: (1) the basis of the stock disposed of; and (2) the portion of gross proceeds attributable to stock held for more than one year and the portion not so attributable (using a first-in, first-out basis). Defines an open-end regulated investment company as one which offers for sale or has outstanding any redeemable security of which it is the issuer. Sets forth special rules for determining the basis of stock in such companies. Modifies the load basis deferral rule for certain acquisitions. Permits a common trust fund to transfer substantially all of its assets to a regulated investment company without gain or loss being recognized by the fund or its participants under specified circumstances. Subtitle D: Tax-Exempt Bond Provisions - Repeals the $100,000 limitation on unspent proceeds under the one-year exception from arbitrage rebate requirements. Exempts earnings on bond proceeds invested in bona fide debt service funds from the arbitrage rebate requirements and the penalty requirement of the 24-month exception if the spending requirements of that exception are otherwise satisfied. Provides for the treatment of tax or revenue anticipation bonds as separate issues. Repeals the disproportionate private business use test for private activity bonds. Increases the annual issuance limit for small issuers whose governmental bonds are not subject to rebate. Repeals the debt service-based limitation on investment in certain nonpurpose investments. Repeals certain expired provisions. Subtitle E: Insurance Provisions - Provides for the treatment of life insurance variable contracts on retired lives and sets forth special rules for modified guaranteed contracts. Subtitle F: Other Provisions - Provides that the taxable year of a partnership closes with respect to a partner whose entire interest in the partnership terminates, whether by death, liquidation, or otherwise. Repeals the adjusted current earnings rules relating to the treatment of built-in-losses after a change of ownership. Revises corporate minimum tax depreciation computations with respect to alternative minimum taxable income. Modifies the credit for producing fuel from a nonconventional source. Title VII: Estate and Gift Tax Provisions - Allows the right of recovery with respect to qualified terminable interest property (for which a marital deduction is allowed) to be waived in a will only by specific reference. Provides that a transfer from a revocable trust within three years of death does not result in the inclusion of the transfer in the gross estate. Revises the qualified terminable interest rules with respect to a trust and the marital deduction. Provides that a trust created before the enactment of the Revenue Reconciliation Act of 1990 is treated as satisfying the withholding requirement if its trust instrument require that all trustees be U.S. citizens or domestic corporations. Directs the Secretary to prescribe procedures which provide that executors will have the opportunity to submit subsequent information on a recapture agreement in the filing of an estate tax return. Title VIII: Excise Tax Simplification - Subtitle A: Fuel Tax Provisions - Consolidates diesel and aviation fuel tax provisions. Consolidates the user credit and refund provisions for the fuels excise taxes. Combines the three refund procedures for fuels taxes into a uniform refund procedure. Eliminates the waiver requirement for fuels tax refunds for cropdusters and other fertilizer applicators. Provides exceptions to the mandatory information return requirement for certain sales of diesel and aviation fuels. Subtitle B: Provisions Related to Distilled Spirits, Wines, and Beer - Makes refunds available for imported bottled distilled spirits returned to distilled spirits plants. Permits records of exportation to be maintained by the exporter for purposes of canceling or crediting bonds furnished when distilled spirits are removed from bonded premises. Permits distilled spirits plants to maintain records of their activities at locations other than the premises where the operations covered by the records are performed. Allows bear to be transferred without payment of tax from a brewery to a distilled spirits plant to be used in the production of distilled spirits regardless of whether the brewery is contiguous to the distilled spirits plant. Repeals the requirement that wholesale liquor dealers post a sign outside their place of business indicating that they are wholesale liquor dealers. Repeals the requirement that wine returned to bonded premises be unmerchantable in order for tax to be refunded to the proprietor of the bonded wine cellar to which the wine is delivered. Allows the use of ameliorating material in certain wines made exclusively from a fruit or berry. Allows domestically-produced beer to be withdrawn from the place of production without payment of tax for the official or family use of representatives of foreign governments or public international organizations. Allows beer to be removed from a brewery without payment of tax for purposes of destruction. Provides for imported beer to be withdrawn from customs custody for transfer to a brewery without payment of tax. Subtitle C: Other Excise Tax Provisions - Authorizes the exemption from registration requirements of certain tax-free sales. Repeals expired provisions concerning piggy-back trailers and deep seabed mining. Title IX: Administrative Provisions - Subtitle A: General Provisions - Changes the threshold for withholding and paying social security taxes from $50 a quarter to $300 a year for domestic service in a private home. Requires employers of household employees to report any social security or Federal unemployment tax obligation for wages paid to such employees on their income tax returns. Includes a household employer's social security and employment taxes in the estimated tax provisions. Authorizes the Secretary to enter into agreements with States to collect State unemployment taxes in the same manner. Allows reproductions of returns in digital image format by the Internal Revenue Service. Requires the Comptroller General of the United States to conduct a study of available digital image technology and report to specified congressional committees. Repeals: (1) the authority to disclosure whether a prospective juror has been audited; and (2) special audit provisions regarding the tax treatment of subchapter S corporations. Provides an explanation of the statute of limitations with respects to the return of a taxpayer. Allows corporations to disregard any letter or notice of assessment or proposed assessment of tax if the deficiency or proposed deficiency is less than $100,000. Provides a special rule for corporate estimated taxes if the corporation has no liability for the preceding year. Subtitle B: Tax Court Procedures - Provides that an order to refund an overpayment is appealable in the same manner as a decision of the Tax Court. Declares that the Tax Court shall not have jurisdiction over the validity or merits of the credits or offsets that reduce or eliminate the refund to which the taxpayer was otherwise entitled. Provides that a taxpayer who seeks an award of administrative costs must apply for such costs with 90 days of the date on which the taxpayer was determined to be a prevailing party. Provides that a taxpayer who appeals a denial of administrative costs must petition the Tax Court within 90 days after the date that the IRS mails the denial notice. Provides that a taxpayer must file a motion (rather than a petition) to seek a redetermination of interest in the Tax Court. Provides that the net worth limitations applicable to individuals also apply to estates and trusts. Provides that individuals who file a joint tax return shall be treated as one individual for purposes of computing the net worth limitations. Subtitle C: Authority for Certain Cooperative Agreements - Authorizes the Secretary to enter into cooperative agreements with State tax authorities for purposes of enhancing joint tax administration.
United States · United States Congress · 5 January 1993
TABLE OF CONTENTS: Title I: Provisions Relating to Part A Title II: Provisions Relating to Part B Subtitle A: Physicians' Services Subtitle B: Ambulatory Surgical Services Subtitle C: Durable Medical Equipment Subtitle D: Other Provisions Title III: Provisions Relating to Parts A and B Title IV: Provisions Relating to Medicare Supplemental Insurance Policies Miscellaneous and Technical Medicare Amendments of 1993 - Amends title XVIII (Medicare) of the Social Security Act (SSA) parts A (Hospital Insurance) and B (Supplementary Medical Insurance). Title I: Provisions Relating to Part A - (Sec. 101) Requires the Secretary of Health and Human Services (HHS) to use the day outlier methodology in effect for: (1) FY 1992 for payment of discharges occurring on or after April 1, 1993, and before September 30, 1993; and (2) the first six months of FY 1993 for payment of discharges occurring during FY 1994. (Sec. 102) Modifies the Essential Access Community Hospital program. (Sec. 103) Provides that a change in classification of hospitals from one area to another may not result in a reduction in the wage index for an urban area under certain circumstances. (Sec. 104) Amends the Omnibus Budget Reconciliation Act of 1987 (OBRA-1987) to extend authorized appropriations for the rural health transition grant program. (The Omnibus Budget Reconciliation Acts of different years amended by this Act shall be denoted "OBRA-(year).") (Sec. 105) Permits hospitals to decline reclassification from rural to urban referral centers. (Sec. 106) Revises Medicare-dependent, small rural hospital payment provisions. (Sec. 107) Amends OBRA-1989 to extend additional Medicare payments for the hemophilia clotting factor. (Sec. 108) Prohibits the Secretary from recouping from or otherwise reducing Medicare payments to hospitals in New Jersey because of alleged overpayments during a hospital reimbursement demonstration project, until all relevant data are given to the State and hospitals located in it. (Sec. 109) Allows the care of hospital inpatients receiving qualified psychologist services to be supervised by a clinical psychologist to the extent such supervision is permitted under State law. (Sec. 110) Allows graduate medical education to be provided in a hospital-owned community health center. (Sec. 111) Requires a study on the feasibility and desirability of establishing joint medical facilities among the Department of Defense, the Department of Veterans' Affairs, and other public and private entities. (Sec. 112) Requires home health agencies and skilled nursing facilities to notify Medicare beneficiaries of the hospice benefit, except in certain circumstances. (Sec. 113) Directs the Secretary to begin collecting data on employee compensation and paid hours of employment in skilled nursing facilities (SNFs) to compute a wage index to adjust Medicare SNFs payments. (Sec. 115) Amends OBRA-1990 to require the Secretary to continue any rural hospital demonstration project at least through December 31, 1995. Title II: Provisions Relating to Part B - Subtitle A: Physicians' Services - (Sec. 201) Reinstates separate payment for electrocardiogram interpretations performed or ordered to be performed as part of or in conjunction with a visit to or consultation with a physician. (Sec. 202) Repeals provisions for reduced Medicare payments to new physicians and other practitioners during their first four years of practice. (Sec. 203) Prohibits the Secretary from modifying the methodology for determining the amount of time that may be billed under Medicare for anesthesia services. (Sec. 204) Requires the Secretary to study and report to specified congressional committees on the data necessary to review and revise geographical indices. (Sec. 205) Prohibits nonparticipating physicians and suppliers from billing or collecting an actual charge in excess of the Medicare limiting charge. (Sec. 206) Requires the Secretary to study, develop, and report to the Congress on relative values for pediatric services. (Sec. 208) Prohibits the Secretary and carriers from imposing user fees. Subtitle B: Ambulatory Surgical Services - (Sec. 211) Extends eligibility for designation as eye or eye and ear hospitals to certain hospitals. (Sec. 212) Amends OBRA-1990 to extend the cap on payments for intraocular lenses. Subtitle C: Durable Medical Equipment - (Sec. 221) Requires the Secretary to prescribe national standards which suppliers of medical equipment and supplies must meet to receive payment under Medicare for items furnished. (Sec. 222) Prohibits carrier forum shopping by suppliers filing claims. (Sec. 223) Prohibits unsolicited telephone contacts from suppliers of durable medical equipment to Medicare beneficiaries. (Sec. 224) Modifies SSA anti-kickback provisions. (Sec. 225) Specifies the circumstances under which Medicare beneficiaries are not liable for covered items furnished by suppliers on an unassigned basis. (Sec. 226) Revises special payment rules for particular items and services to provide for adjustments to final payment amounts for inherent reasonableness. (Sec. 227) Freezes reasonable charges for parenteral and enteral nutrients, supplies, and equipment. (Sec. 228) Removes aspirators and nebulizers from the category of durable medical equipment (DME) items requiring frequent and substantial servicing and includes accessories relating to aspirators and nebulizers in the category of inexpensive and other routinely purchased equipment. (Sec. 229) Adds payment rules for ostomy supplies, tracheostomy supplies, urologicals, and surgical dressings. (Sec. 230) Changes payment rates for tens devices. Subtitle D: Other Provisions - (Sec. 241) Revises payment conversion factors for services furnished by a medically directed certified registered nurse anesthetist. (Sec. 242) Amends OBRA-1990 to extend Alzheimer's disease demonstration projects. (Sec. 243) Modifies the limitation on the late enrollment penalty. (Secs. 244 and 245) Provides for Medicare coverage of: (1) oral cancer drugs that contain the same active ingredients as anticancer drugs covered by Medicare when administered intravenously; and (2) speech-language pathology and audiology services. (Sec. 246) Amends OBRA-1985, as amended by OBRA-1989, to extend municipal health service demonstration projects. (Sec. 247) Treats certain Indian health programs and facilities as federally-qualified health centers. (Sec. 248) Amends OBRA-1987 to extend the influenza vaccination demonstration project. Title III: Provisions Relating to Parts A and B - (Sec. 301) Modifies provisions relating to physician ownership and referral. Requires the Comptroller General to study and report to the Congress on shared facility arrangements. (Sec. 302) Adjusts procedures to determine graduate medical education costs. (Sec. 303) Extends the periods during which Medicare covers immunosuppressive drug therapy following a transplant procedure. Reduces Medicare payments for erythropoietin. (Sec. 304) Revises provisions with respect to Medicare secondary payers. (Secs. 305 and 306) Requires the Secretary to: (1) establish a method for obtaining information with a view to Medicaid payment of the Medicare out-of-pocket expenses of eligible Medicare beneficiaries; and (2) extend waivers for social health maintenance organization (HMO) demonstration projects. (Sec. 307) Repeals peer review organization precertification requirements for certain surgical procedures. (Sec. 308) Modifies hospital conditions of participation with respect to discharge planning under Medicare to require informing a patient of his or her entitlement to hospice services. (Sec. 309) Provides that there must be interest payments on clean claims if the claims are not paid within 30 days of receipt. (Sec. 311) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to adjust discretionary spending limits with respect to Medicare administrative costs. (Sec. 312) Adjusts Medicare capitation payments with respect to HMOs to account for regional variations in application of the secondary payor provisions. (Sec. 313) Amends the Employee Retirement Income Security Act of 1974 with regard to certain health care programs of the State of Hawaii. Title IV: Provisions Relating to Medicare Supplemental Insurance Policies - (Sec. 401) Revises certain standards for Medicare supplemental insurance policies.
United States · United States Congress · 5 January 1993
TABLE OF CONTENTS: Title I: Provisions Relating to the Medicare Program Subtitle A: Durable Medical Equipment Subtitle B: Medicare Secondary Payer Title II: Customs Officer Pay Reform Title III: Availability and Use of Death Information Under the Old-Age, Survivors, and Disability Insurance Program Title IV: PBGC Report on Employers with Underfunded Plans Title V: Taxpayer Bill of Rights 2 Subtitle A: Taxpayer Advocate Subtitle B: Modifications to Installment Agreement Provisions Subtitle C: Interest Subtitle D: Joint Returns Subtitle E: Collection Activities Subtitle F: Information Returns Subtitle G: Modifications to Penalty for Failure to Collect and Pay Over Tax Subtitle H: Awarding of Costs and Certain Fees Subtitle I: Other Provisions Subtitle J: Form Modifications; Studies Title VI: Other Internal Revenue Code Provisions Subtitle A: Extension of Authority for Undercover Operations; Cash-Transaction Reports Subtitle B: Provisions Relating to Exempt Organizations Title VII: Prohibition of Misuse of Department of the Treasury Names, Symbols, etc. Federal Program Improvement Act of 1993 - Title I: Provisions Relating to the Medicare Program - Subtitle A: Durable Medical Equipment - (Sec. 1001) Amends title XVIII (Medicare) of the Social Security Act (SSA) to set forth requirements concerning durable medical equipment (DME) supplier number issuance and renewal, and certificates of medical necessity and uniform national coverage and utilization criteria for certain DME. (Sec. 1001) Requires the Secretary of Health and Human Services (HHS) to study and report to the Congress on payment methodologies for: (1) DME under Medicare part B (Supplementary Medical Insurance) for disabled Medicare beneficiaries; and (2) prosthetic devices and orthotics and prosthetics under such part that do not require custom fitting and adjustment. (Secs. 1002 through 1007) Amends SSA title XVIII to: (1) revise procedures for processing Medicare DME claims; (2) place restrictions on certain marketing and sales activities of DME suppliers; (3) absolve Medicare beneficiaries from liability for payment of DME received from suppliers without suppliers numbers; (4) mandate fee schedule adjustments for amounts determined not to be inherently reasonable; and (5) revise formulae for payments for ostomy supplies, tracheostomy supplies, urologicals, surgical dressings, and tens devices. (Sec. 1008) Requires the Health Care Financing Administration (HCFA) to collect data on variations in DME supplier costs for which payment may be made under Medicare part B for a report to specified congressional committees which shall also contain HCFA recommendations for a geographic cost adjustment index for DME suppliers. (Sec. 1008) Requires the Comptroller General (CG) to report to specified congressional committees on supplier DME costs. Subtitle B: Medicare Secondary Payer - (Sec. 1101) Amends the Omnibus Budget Reconciliation Act of 1989 (OBRA-1989) to provide that certain Medicare secondary payer provisions regarding the treatment of employment in a religious order shall apply to items and services furnished before the effective date of such provisions in secondary payer cases not identified as of that date. (Sec. 1101) Makes changes to aid in the: (1) identification of Medicare secondary payer situations; and (2) recovery of erroneous Medicare payments from primary payers. Title II: Customs Officer Pay Reform - (Sec. 2001) Revises the pay system for U.S. customs service inspectors and provides canine enforcement officers overtime compensation in the same manner applicable to inspectors. (Secs. 2003 and 2005) Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 with respect to customs user fee account reports and reimbursements. (Sec. 2005) Requires, for certain annual reports to specified congressional committees, a CG review of expenditures from the Customs User Fee Account and Treasury recommendations for improving the operation of user fee laws in financing inspectional services. Title III: Availability and Use of Death Information Under the Old-Age, Survivors, and Disability Insurance Program - (Sec. 3001) Amends SSA title II (Old Age, Survivors and Disability Insurance) to: (1) encourage States to enter into contracts to provide death information to the Social Security Administration; (2) authorize the Administration to redisclose such information to other Federal, State, and local agencies; and (3) restrict the use of social security numbers in motor vehicle registration and driver's license programs by States which do not provide for the exchange of death information. Directs the Secretary to study and report to specified congressional committees on possible improvements in the current methods of gathering and reporting death information by Federal, State, and local governments. Title IV: PBGC Report on Employers with Underfunded Plans - (Sec. 4001) Requires the Pension Benefit Guaranty Corporation to report annually to the Congress on employers with underfunded pension plans. Title V: Taxpayer Bill of Rights 2 - Taxpayer Bill of Rights 2 - Subtitle A: Taxpayer Advocate - (Sec. 5001) Amends the Internal Revenue Code to establish in the Internal Revenue Service (IRS) the Office of the Taxpayer Advocate to: (1) assist taxpayers in resolving problems with the IRS; (2) identify areas in which taxpayers have such problems; (3) propose changes in IRS administrative practices to mitigate such problems; and (4) identify appropriate legislative changes to mitigate such problems. (Sec. 5001) Replaces the IRS' Office of the Ombudsman with the Office of the Taxpayer Advocate. (Sec. 5002) Revises the terms of a Taxpayer Assistance Order. Subtitle B: Modifications to Installment Agreement Provisions - (Sec. 5101) Requires prior notification to taxpayers under an installment agreement to pay tax liability before altering, modifying, or terminating such an agreement. (Sec. 5102) Provides for administrative review of denials of requests for, or terminations of, installment agreements. Subtitle C: Interest - (Sec. 5201) Changes the rules for the abatement of interest attributable to IRS errors and delays. (Sec. 5202) Extends the period for which interest will not be imposed after notice and demand for payment, if such payment is less than $100,000. Subtitle D: Joint Returns - (Sec. 5301) Allows the disclosure of collection activities to an individual requesting such information in the case of a joint return where the individual is no longer married to, or no longer resides in the same household as, the other joint filer. (Sec. 5302) Removes limitations on filing a joint return after filing separate returns without full payment of tax. Subtitle E: Collection Activities - (Sec. 5401 and 5402) Authorizes the Secretary of the Treasury, in certain cases, to: (1) withdraw a notice of a lien; (2) return property that has been levied upon; and (3) offer compromises in civil or criminal cases. (Sec. 5403) Requires: (1) prior notification to the taxpayer that the taxpayer is under examination; and (2) an explanation of the process (except in specified cases). (Sec. 5404) Increases the dollar limit on the recovery of civil damages for unauthorized collection actions. (Sec. 5405) Revises provisions with respect to a designated summons concerning the standard of review and notice requirements for issuance. Subtitle F: Information Returns - (Sec. 5501) Requires payee statements to provide the telephone number of the person providing payment. (Sec. 5502) Establishes civil damages for fraudulent return filing. (Sec. 5503) Requires the Secretary to present reasonable and probative information concerning a deficiency in an information return by a third party, when such return is disputed in court by a taxpayer who has cooperated fully in the matter with the Secretary. Subtitle G: Modifications to Penalty for Failure to Collect and Pay Over Tax - (Sec. 5601) Establishes requirements for preliminary notices of failure to pay over tax. (Sec. 5602) Specifies the circumstances under which a person shall not be liable for any penalty for failure to collect and pay over tax. (Secs. 5603 and 5604) Requires the Secretary to: (1) disclose certain information where more than one person is liable for a penalty; and (2) ensure that IRS employees are aware of their responsibilities under the tax depository system, the circumstances under which they may be liable for penalties, and reporting responsibilities. (Sec. 5604) Exempts certain unpaid, volunteer board members of tax-exempt organizations from collection penalties. Subtitle H: Awarding of Costs and Certain Fees - (Sec. 5701) Allows a substantially prevailing taxpayer to file a motion for a court order for the disclosure of all relevant records held by the IRS. (Sec. 5702) Increases the limit on attorney fees. (Sec. 5703) Provides that any failure to agree to an extension of time for the assessment of any tax shall not be taken into account in determining whether a prevailing party has exhausted all administrative remedies. Subtitle I: Other Provisions - (Secs. 5801 and 5803) Revises provisions regarding the: (1) required content of tax due, deficiency, and other notices; and (2) retroactivity of IRS regulations and rulings. (Sec. 5802) Provides for the treatment of substitute returns made by the Secretary. (Sec. 5804) Requires notice to the taxpayer of the inability to associate any payment with any outstanding tax liability. (Sec. 5805) Allows damages for the unauthorized disclosure and enticement of disclosure of taxpayer information. Subtitle J: Form Modifications; Studies - (Secs. 5901 through 5903) Directs the Secretary to: (1) ensure that taxpayers are aware of permission to pay tax in installments, extensions of time for payment of tax, and compromises of tax liability; (2) improve procedures for taxpayers to notify the Secretary of name and address changes; and (3) include in a specified publication a section on the rights and responsibilities of divorced individuals. (Secs. 5911 through 5914) Requires the Secretary to report to the congressional tax-writing committees on: (1) a pilot program for appeals of certain enforcement actions; (2) a study of ways to assist taxpayers with special needs to comply with IRS laws; (3) the scope and content of the IRS taxpayer-rights education program for its officers and employees; and (4) cases involving complaints about misconduct of IRS employees. (Secs. 5915 and 5916) Requires the CG to study and report to such committees on notices of deficiency and the accuracy and clarity of commonly used IRS forms, notices, and publications. Title VI: Other Internal Revenue Code Provisions - Subtitle A: Extension of Authority for Undercover Operations; Cash-Transaction Reports - (Sec. 6001) Extends the authority for IRS undercover operations. (Sec. 6002) Provides for the disclosure to Federal, State, local, and foreign governments of information on tax returns relating to cash transactions. Subtitle B: Provisions Relating to Exempt Organizations - (Secs. 6101 and 6102) Requires: (1) certain organizations to disclose their nonexempt tax status (or face specified civil penalties); and (2) tax-exempt organizations to make available for public inspection copies of their annual tax returns. Title VII: Prohibition of Misuse of Department of the Treasury Names, Symbols, Etc. - (Sec. 7001) Prohitits misuse of Treasury Department names, symbols, emblems, abbreviations, and initials, and specifies civil penalties for any such misuse.
United States · United States Congress · 5 January 1993
Medicare Prevention Benefit Act of 1993 - Amends title XVIII (Medicare) of the Social Security Act to provide for coverage of: (1) annual screening mammography for women over age 64; (2) colorectal screening; (3) certain immunizations; and (4) well-child care. Directs the Secretary of Health and Human Services to establish demonstration projects for the coverage of other specified preventive services under Medicare. Authorizes appropriations. Requires the Director of the Office of Technology Assessment to conduct a study to develop a process for the review of Medicare coverage of preventive services.
United States · United States Congress · 28 May 1992
Constitutional Amendment - Requires the President, prior to each fiscal year, to propose to the Congress a budget in which total expenditures do not exceed total receipts, unless that budget is accompanied by a Presidential Declaration of National Urgency. Prohibits the Congress from approving total expenditures in excess of total receipts unless it has approved by majority rollcall vote in each House a Presidential Declaration of National Urgency. Prohibits the Congress from approving a budget which is estimated to result in a higher amount of total expenditures than those recommended by the President. Declares that total expenditures do not include debt redemption and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, or any successor funds. Declares that total receipts do not include net borrowing and receipts of such trust funds or successor funds.
United States · United States Congress · 27 May 1992
Foreign Income Tax Rationalization and Simplification Act of 1992 - Title I: Treatment of U.S. Businesses Operating Abroad - Subtitle A: Interest Allocation Rules - Amends the Internal Revenue Code to allow each member of an expanded affiliated group to take into account the interest expenses and assets of foreign subsidiaries for purposes of allocating and apportioning interest expenses between gross income from U.S. and foreign sources. Expands the types of corporations that are treated as financial institutions for purposes of applying the one-taxpayer rule separately to financial institutions in a related group. Subtitle B: Foreign Tax Credit Rules - Repeals the 90-percent limitation on the utilization of the alternative minimum tax foreign tax credit. Provides for recharacterizing as foreign source taxable income, in the case of a taxpayer that has incurred an overall domestic loss, that portion of the taxpayer's U.S.-source taxable income for each succeeding taxable year which is equal to the lesser of: (1) the amount of the unrecaptured overall domestic loss; or (2) 50 percent of the taxpayer's U.S. source taxable income for such succeeding taxable year. Extends the excess foreign tax credit carryback period from two to three years and extends the carryforward period from five to 15 years. Makes similar extensions for excess oil and gas extraction taxes. Permits a domestic corporation that normally would treat a foreign company as a noncontrolled section 902 corporation to elect to treat that company, for foreign credit limitation and subpart F (controlled foreign corporations) purposes, as a controlled foreign corporation of which the electing domestic corporation is a U.S. shareholder. Subtitle C: Other Provisions - Limits the application to foreign persons of the uniform capitalization rules in determining earnings and profits. Modifies the look-through rules that apply under the passive foreign corporation regime by reducing the ownership thresholds from 25 to 20 percent in the general look-through rule and the special domestic-subsidiary look-through rule. Title II: Treatment of Controlled Foreign Corporations -Repeals deferral on controlled foreign corporations by treating as subpart F income generally all of a controlled foreign corporation's earnings and profits for the taxable year. Repeals provisions which provided for a reduction of subpart F income of export trade corporations. Allows certain foreign corporations to be treated as domestic corporations for U.S. tax purposes. Provides for determining the source of income for the sale of inventory property to a related person and the sale of inventory property between U.S. residents for use in the United States. Title III: Taxation of Foreign Persons Having U.S. Related Income - Provides that where a foreign stockholder owns or has owned, at any time during the previous five years, ten percent or more of the stock of a U.S. corporation, gain or loss from the disposition of the stock is treated as income effectively connected with the conduct of a U.S. trade or business and attributable to a U.S. permanent establishment. Requires tax withholding on certain stock dispositions by such stockholders. Prohibits a foreign entity from being entitled to any benefits granted by the United States under any treaty between the United States and a foreign country unless such entity is a qualified resident of such foreign country. Prohibits any person from being entitled to such benefits with respect to any income of such person if such income bears a significantly lower tax under the laws of the foreign country than similar income arising from sources within such foreign country derived by residents of such foreign country. Increases the excise tax on certain premiums paid to foreign persons in low-tax countries for reinsurance covering casualty insurance and indemnity bonds. Grants the Secretary of the Treasury enforcement authority. Sets a minimum amount of taxable income to be reported by 25-percent foreign-owned domestic corporations that engage in more than a threshold level of transactions with foreign related parties. Provides an exception where an alternative method is approved by the Secretary. Title IV: Other Reforms - Subtitle A: Provisions Affecting Individuals - Establishes a foreign tax credit limitation for individuals whose gross income is from sources outside the United States, consists entirely of qualified passive income, and the amount of creditable foreign taxes does not exceed $200. Excludes certain personal transactions from foreign currency rules. Provides that income received by an individual in the form of a sholarship or fellowship grant for study, training, or research is treated as derived from sources in the location of the funded activity. Requires that income received as a prize or award made primarily in recognition of religious, charitable, scientific, educational, artistic, literary or civil achievement to be treated as derived from sources in the location of the activities that formed the basis of the prize or award. Allows certain deductions, based on the standard deduction and multiple personal exemptions, to offset certain U.S. source gross income of visiting foreign individuals received in the form of scholarships and fellowships granted by certain tax-exempt or governmental entities. Provides a limited estate tax marital credit for certain employees of international organizations. Subtitle B: Other Provisions - Reduces the Puerto Rico and Possession tax credit from 100 percent to 85 percent of precredit U.S. tax on a company's possession-based operations and qualified possession source investment income. Declares that foreign oil and gas extraction income does not include any passive income. Title V: Foreign Simplification Provisions - Subtitle A: Simplification of Treatment of Passive Foreign Corporations - Repeals foreign personal holding company rules and foreign investment company rules. Exempts foreign corporations from the accumulated earnings tax and personal holding company rules. Replaces repealed provisions with revised rules for passive foreign corporations. Provides for taxing U.S. income on stock in passive foreign corporations through three alternative methods: (1) mark-to-market; (2) current inclusion; and (3) interest charge on excess distributions. Subjects less-than-25-percent shareholders of passive foreign corporations that are not U.S.-controlled, and who do not elect current inclusion, to the mark-to-market methods or the interest-charge method for taxing income. Provides that if a passive foreign corporation is U.S.-controlled then every U.S. person owning stock in such corporation is subject to income inclusions under a modified version of controlled foreign corporation rules. Declares with regard to the mark-to-market method that: (1) if the fair market value of stock exceeds its adjusted basis, then the U.S. person shall include in gross income an amount equal to the amount of the excess; and (2) if the adjusted basis of stock exceeds the fair market value then the person shall be allowed a deduction equal to the lesser of the amount of such excess, or the unreversed inclusions. Describes a passive foreign corporation as any foreign corporation if: (1) 60 percent or more of its gross income is passive income; (2) the average percentage of assets which produce passive income or which are held for the production of passive income is at least 50 percent; or (3) such corporation is registered under the Investment Company Act of 1940, either as a management company or as a unit investment trust. Provides for the treatment of mark-to-market gain for purposes of the excise tax on undistributed income of regulated investment companies. Subtitle B: Treatment of Controlled Foreign Corporations - Provides that if a controlled foreign corporation sells or exchanges stock in other foreign corporations, then gain recognized on such sale or exchange shall be included in the gross income of such corporation as a dividend to the same extent that it would have been included if such corporation were a U.S. person. Authorizes the Secretary to prescribe simplified methods for determining the amount of increase of limitations on the foreign tax credit. Revises provisions concerning: (1) determining pro rata share of gain from certain sales or exchanges of stock in certain foreign corporations; (2) basis adjustments in stock held by lower-tier foreign corporations; (3) determination of previously taxed income in redemptions through use of related corporations; and (4) treatment of branch profits tax exemptions or reductions. Extends the application of the indirect foreign tax credit to certain controlled corporations below the third tier. Subtitle C: Other Provisions - Establishes new rules for the translation of certain accrued foreign taxes. Modifies present rules for translating all other foreign taxes. Permits the use of the simplified limitation on the foreign tax credit in determining the alternative minimum tax foreign tax credit. Repeals the excise tax on outbound transfers to avoid income tax. Requires the full recognition of gain on a transfer of property by a U.S. person to a foreign corporation as paid-in surplus, or as a contribution to capital, or to a foreign estate, trust, or partnership. Allows the Secretary, in lieu of applying the full recognition rule, to provide regulations with principles similar to the principles for foreign corporations transferring property from the United States. Title VI: Studies - Directs the Secretary to study and report to the House Committee on Ways and Means and the Senate Committee on Finance not later than January 1, 1994, on: (1) tax issues relating to the maintenance and enhancement of the competitiveness of the American economy in light of changing economic policies in Europe and the increasing globalization of the world economy; (2) administrative and compliance issues related to a value added tax; and (3) transfer pricing rules and the proper taxation of foreign persons conducting business in the United States.
United States · United States Congress · 26 May 1992
Unemployment Compensation Amendments of 1992 - Title I: Extension of Emergency Unemployment Compensation Program - Amends the Emergency Unemployment Compensation Act of 1991 (Public Law 102-164, as amended) to extend the emergency unemployment compensation (EUC) program. Changes the EUC program termination date (currently July 4, 1992) to the earliest of: (1) April 1, 1993; (2) the first day of the third month after the first month (after June 1992) for which the applicable unemployment rate is less than six and one-half percent; or (3) the first day of the first month (after June 1992) for which the applicable unemployment rate is less than six percent. Makes the applicable unemployment rate for any month, for such purposes, the average rate (seasonally adjusted) of total unemployment in all States for the most recent three calendar months for which data are published before the beginning of such month. Provides for specified reductions of benefits during periods after June 13, 1992, and after December 31, 1992 (or three months prior to any earlier termination date for the program than April 1, 1993). Provides, therefore, up to : (1) 33 weeks of EUC benefits in certain high-unemployment States and 26 weeks in all other States, respectively, for claimants prior to June 14, 1992; (2) 26 or 20 weeks, respectively, for new claimants on or after such date; and (3) 13 or 10 weeks, respectively, for new claimants on or after January 1, 1993 (or any earlier date for the final three-month phaseout). Provides for up to three months continuation of EUC benefits for certain individuals receiving such benefits for a week during which such termination date occurs. Modifies EUC eligibility requirements to: (1) make a 20-week work requirement inapplicable; (2) provide that an individual is not ineligible by reason of subsequent entitlement to regular benefits; and (3) provide certain transition rules, including a waiver of recovery of certain overpayments and an option to defer rights to certain regular benefits. Provides, under specified conditions, that certain Persian Gulf Crisis reservists may receive an EUC weekly benefit amount equal to that they were receiving under the regular State unemployment compensation program when they were called to active duty. Title II: Modifications to Extended Benefits Program - Amends the Federal-State Extended Unemployment Compensation Act of 1970 to modify trigger provisions for the extended benefits (EB) program. Provides for an EB State "on" indicator for a month if the average rate of total unemployment (seasonally adjusted) for the most recent three months for which data are published before the close of such month is: (1) six percent or more; and (2) 110 percent or more of such average rate for either (or both) of the corresponding three-month periods ending in the two preceding calendar years. (Current law uses the State insured unemployment rate, rather than the State total unemployment rate, in the trigger formula.) Provides for additional weeks of EB program benefits during high unemployment periods (when the trigger period average rate of total unemployment is eight percent or more). Repeals certain special eligibility requirements under the EB program. Increases the amount of Federal reimbursement under the EB program. Makes these amendments to the EB program effective on October 1, 1993, with certain exceptions. Title III: Modifications to Federal Unemployment Tax - Amends Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code (IRC) to modify the Federal unemployment tax rate. Reduces the percentage of Federal taxable wages, which is part of the formula for determining the FUTA rate of an employer, from the current 0.8 (which is currently scheduled to return to 0.6 when a 0.2 surtax expires in 1996) to 0.3 in 1994 through 1996 and 0.25 in 1997 and thereafter; but increases the FUTA taxable wage base in 1994 and thereafter to the average annual covered wage. Amends IRC to require the appropriate State agency to provide to each individual filing a claim for unemployment compensation under State law a written explanation of: (1) the Federal and State taxation of unemployment benefits; and (2) the requirements to make payments of estimated Federal and State income taxes. Amends the Social Security Act (SSA) to allow States to include information on the earned income credit under IRC in certain mailings relating to unemployment compensation, at no cost if such additional information does not increase the postage cost of such mailings. Amends IRC to extend by two years (until January 1, 1995) the current exclusion from coverage under FUTA of agricultural labor performed before such date by an individual who is admitted to the United States to perform such agricultural labor under certain provisions of the Immigration and Nationality Act. Requires the Advisory Council on Unemployment Compensation to report by February 1, 1994, to specified congressional committees on such FUTA exclusion treatment of agricultural labor performed by aliens. Extends by one year the grace period for State repayment of Federal loans to State unemployment funds (before certain penalty taxes on employers take effect in such States with overdue loans), if the State amended its unemployment compensation law during 1992 or 1993 to increase estimated contributions requirements by at least 25 percent. Title IV: Modification to Regular State Unemployment Compensation Programs - Amends the Internal Revenue Code (IRC) to provide for treatment of short-time compensation programs which provide partial unemployment benefits to individuals whose workweeks have been reduced by at least ten percent. Allows State laws to provide for unemployment compensation funds to be withdrawn for the payment of such short-time compensation under a plan approved by the Secretary of Labor. Directs the Secretary of Labor to assist States in establishing and implementing short-time compensation programs by: (1) developing model legislative language and proposing appropriate revisions; and (2) providing technical assistance and guidance. Requires the Secretary to report to the Congress on implementation of these short-time compensation program provisions. Requires each employer covered under a State unemployment compensation law to: (1) post statements (prescribed by the State agency) regarding benefit rights and other matters in places readily accessible to employees; and (2) furnish to each terminated employee written statements (provided by the State agency) regarding claims for compensation. Title V: Financing Provisions - Amends the Internal Revenue Code (IRC) to extend by two years, through December 31, 1997, a phase out of personal exemptions for certain high income taxpayers. Amends IRC to disallow an income tax deduction for remuneration for services in excess of $1,000,000 per employee per year to certain covered employees or former employees who are or had been officers of the taxpayer (and not including any employee-owners of personal service corporations). Aggregates remuneration from certain related employers for purposes of such $1,000,000. (Makes such amendment retroactive to cover amounts paid or accrued on or after January 1, 1992, but waives estimated tax provisions with respect to underpayments created or increased by such amendment.) Amends the Social Security Act to provide for transfer of revenues from income taxes on unemployment benefits to the Unemployment Trust Fund. Bases such transfers on estimates of benefit payments. Sets forth a transition rule requiring the Secretary of the Treasury, by the end of FY 1992, to transfer from the general fund of the Treasury to the Unemployment Trust Fund, for credit to the extended unemployment compensation account, an amount equal to that which would have been appropriated to the Unemployment Trust Fund for months beginning on or before enactment of this Act if such transfer amendments had been in effect for all months after December 31, 1990. Revises provisions for Federal unemployment accounts. Modifies provisions for the extended unemployment compensation account with respect to transfers and increases the ceiling on such account. Reduces the ceiling on the Federal unemployment account. Provides for borrowing among the employment security administration account, the Federal unemployment account, and the extended unemployment compensation account. Amends specified Federal law relating to civil service employment to provide that if any Federal agency does not deposit a required amount in the Federal Employees Compensation Account for unemployment benefits within 30 days after notification by the Secretary of Labor, such Secretary shall notify the Secretary of the Treasury of such failure and that Secretary shall transfer such amount to such Account from amounts otherwise appropriated to such Federal agency. Extends, to December 31, 1994, the deadline for a report on a study of the allocation of funds among States for the administration of unemployment compensation programs (such report is required under the Emergency Unemployment Compensation Act of 1991). Title VI: Budgetary Treatment - Provides that any amount of new budget authority, outlays, or receipts resulting from this Act shall not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) (BBEDCA). Exempts EUC payments under the Emergency Unemployment Compensation Act of 1991 from sequestration orders under BBEDCA.
United States · United States Congress · 7 May 1992
Trade Expansion Act of 1992 - Title I: Market Access Provisions - Subtitle A: Enforcement of United States Rights Under Trade Agreements and Response to Certain Foreign Trade Practices - Amends the Trade Act of 1974 to extend through calendar year 1997 the requirement that the United States Trade Representative (USTR) identify U.S. trade liberalization priorities. Expresses the sense of the Congress that foreign countries that have substantial trade surpluses with the United States, and maintain acts, policies, or practices that are major barriers to, or distortions of, potential U.S. export trade, should be identified (for purposes of "Super 301" under the Trade Act of 1974) as priority foreign countries, and such acts, policies, or practices identified as priority practices. Amends the Trade Act of 1974 to authorize any interested person to request the USTR to review to determine whether a foreign country is in material compliance with the terms of a trade agreement. Defines an "interested person" as any person with a significant economic interest that is being or has been adversely affected by a foreign country's failure to comply materially with terms of a trade agreement. Requires the USTR to determine what action to take if a foreign country is found not in material compliance with such agreement. Directs the USTR to initiate an investigation of all acts, policies, and practices of Japan, Korea, and Taiwan that affect the access of U.S. rice to their markets. Requires the USTR to negotiate the elimination of such acts, policies, and practices, and report to the Congress on the progress of such negotiations. Subtitle B: International Trade in Motor Vehicles and Motor Vehicle Parts - Directs the USTR to initiate an investigation of all acts, policies, and practices of Japan that affect the access of U.S. motor vehicles and motor vehicle parts to its market, including but not limited to: (1) acts, policies, and practices utilized in the Japanese automotive distribution system; (2) toleration of anticompetitive activities by private Japanese firms (including "Keiretsu"); (3) exclusionary business practices; and (4) testing requirements and other government regulations. Requires the USTR to negotiate with Japan for a trade agreement that: (1) eliminates such acts, policies, and practices; (2) provides enforcement of Japan's commitments under the Structural Impediments Initiative, the Market -Oriented Sector Specific agreements, and the Action Plan announced at the Tokyo Summit in January 1992 with respect to trade in, and purchase of, motor vehicles and motor vehicles parts; (3) establishes long term goals for the purchase by Japanese motor vehicle manufacturers of high value-added motor vehicle parts and accessories; and (4) establishes procedures for the exchange of information between the United States and Japan that will permit the accurate assessment of the bilateral trade in motor vehicle parts. Requires the USTR to report to the Congress if such negotiations prove unsuccessful. Directs the President to negotiate with Japan for a voluntary restraint agreement that will provide for the imposition of limitations on the aggregate number of Japanese passenger automobiles and light trucks that may be exported to the United States between 1992 and 2000. Authorizes the President to enforce such agreements. Requires specified reports with respect to such negotiations. Expresses the sense of the Congress that the USTR should refer to the U.S. Government all information pertaining to Japanese acts, policies, and practices that adversely affect access to the purchasing by Japanese motor vehicle manufacturers in the United States of U.S. motor vehicle parts by Japanese-owned or-controlled producers. Requires the Board established by the Foreign-Trade Zones Act to: (1) review the operations of U.S. and foreign motor vehicle and motor vehicle parts producers to determine any positive economic effect on the United States of such Act; and (2) take appropriate action, including revocation or modification of a foreign-trade zone or subzone grant, with respect to any producer whose operations in such zone are determined not to have a net positive effect on the U.S. economy. Title II: Customs Modernization - Customs Modernization and Informed Compliance Act - Subtitle A: Improvements in Customs Enforcement - Amends the Tariff Act of 1930 to revise customs procedures with respect to: (1) electronic transmission of forged, altered, or false data to the United States Customs Service with regard to the entry of imported merchandise; (2) penalties for failure to declare imported controlled substances; (3) examination and detention of imported merchandise; (4) certain recordkeeping requirements; (5) examination of books and witnesses; (6) review of protests by the Customs Service; (7) a repeal of a provision relating to the reliquidation on account of fraud; (8) penalties relating to manifests, false drawback or refund claims, and for fraud, gross negligence, and negligence; (9) unlawful unlading or transshipment; (10) public access to Customs Service interpretative rulings and decisions; and (11) seizure of imported merchandise. Subtitle B: National Customs Automation Program - Directs the Secretary of the Treasury (Secretary) to establish the National Customs Automation Program which shall be an automated and electronic system for the processing of commercial imports. Provides for electronic data transmission relating to: (1) remote location filing; (2) effective date of rates of duty on imported merchandise; (3) merchandise manifests; (4) imported merchandise invoices; (5) entry and release of imported merchandise; (6) admissibility in administrative and judicial proceedings of electronically transmitted information; (7) appraisement and liquidations of imported merchandise; (8) the payment of duties; (9) abandonment and damage to imported merchandise; (10) protests of Customs Service decisions; (11) refunds and errors; (12) bonds and other security; and (13) customs house brokers. Requires a refund (drawback) of duties (less one per cent of such duties) on articles produced in the United States with imported merchandise that have been destroyed under Customs Service supervision, provided such articles have not been used prior to such destruction. Sets forth provisions with respect to customs officer's immunity in regard to the appraisement of or collection of duties on imported merchandise. Subtitle C: Miscellaneous Amendments to the Tariff Act of 1930 - Amends the Tariff Act of 1930 to authorize the Secretary to disregard the difference, but not less than $20 (currently ten dollars), between the total estimated duties deposited with respect to imported merchandise and the total amount actually due on such merchandise. Authorizes the Secretary to admit duty-free: (1) gifts from persons in foreign countries to persons in the United States whose value does not exceed $100 (currently, $50), or $200 (currently, $100) in the case of gifts from persons in the Virgin Islands, Guam, and American Samoa; (2) articles accompanying persons for personal or household use whose value does not exceed $200 (currently, $25); or (3) articles whose value does not exceed $200 (currently, five dollars) in other cases. Authorizes the Secretary to waive collection of duties due on merchandise that are worth less than $20, or such greater amount as prescribed by him or her. Requires masters of vessels that have visited a hovering vessel or received merchandise while outside the U.S. territorial sea to report their arrival to the nearest customs facility. Provides for the electronic transmission of vessel documentation to the Customs Service. Requires the following vessels to report to the nearest Customs Service facility within 24 hours (or other period of time) as provided after arrival to a U.S. port: (1) vessels from a foreign port; (2) foreign vessels from a domestic port; (3) U.S. vessels having bonded or foreign merchandise for which entry has not been made; or (4) vessels which visited a hovering vessel or received merchandise outside the U.S. territorial sea. Authorizes the Secretary to permit masters of vessels to make preliminary entry of their vessel with the Customs Service in lieu of or before formal entry is made. Requires U.S. and foreign vessels to obtain clearance from the Customs Service before proceeding from a U.S. port for: (1) a foreign port; (2) another U.S. port (for foreign vessels only), or (for U.S. vessels only) another U.S. port if the vessel has bonded or foreign merchandise for which entry has not been made; or (3) outside the U.S. territorial sea to visit a hovering vessel or to receive merchandise. Exempts from entry and clearance requirements certain passenger vessels on excursion from the U.S. Virgin Islands to the British Virgin Islands and returning, U.S. documented vessels with recreational endorsement, or (as under current law) undocumented U.S. pleasure vessels not engaged in trade, except such vessels must comply upon arrival with specified customs reporting requirements and navigation laws and must not have visited any hovering vessel. Prohibits merchandise, passengers, or baggage from being unladen from any vessel required to make entry or vehicle required to report its arrival until such entry or report of arrival is made and a permit for unlading has been issued by the Customs Service. Authorizes the issuance of such permits through electronic data transmission. Requires every importer of record of merchandise to make and file electronically or otherwise a declaration stating whether such merchandise is imported pursuant to a purchase or purchase agreement and that all other required documents are true and correct. Requires persons who gained any benefit from, or met any obligation to the United States as the result of the prior exportation of merchandise that has returned as undeliverable to inform the Customs Service of the return of such merchandise within a reasonable time. Provides for electronic data transmission of entry information to complete any incomplete entry of imported merchandise. Declares entered or unentered merchandise that remains in customs custody for six months, with an extension at the importer's request of up to a year (currently, for merchandise that remains in custody for one year), and in which duties, taxes, fees, storage, and other charges have not been paid, to be unclaimed merchandise which shall be appraised and sold by the Customs Service at public auction. Authorizes the sale of imported gunpowder and other explosive merchandise that if permitted to remain in a bonded warehouse for six months (currently, one year) would depreciate in value to the extent that its sale would be insufficient to pay such duties, taxes, fees, storage, and other charges. Authorizes the Customs Service, in lieu of sale, to provide notice to interested parties that, unless, within 30 days of such notice, the subject merchandise is entered or withdrawn for consumption and payment made of all duties, taxes, and fees, transfer and storage charges and other expenses that title to such merchandise shall be deemed to vest in the United States. Authorizes the Secretary to pay to a party that has lost a substantial interest in merchandise by virtue of title vesting in the United States, and can establish that it did not receive a vesting notice, an amount from the Customs Forfeiture Fund equal to what such party would have received if such merchandise had been sold and a proper claim filed. Requires any surplus of the proceeds from the sale of such merchandise to be deposited into the Fund if a claim for such surplus is not filed with the Customs Service. Authorizes the Secretary to prescribe regulations for the declaration and entry of merchandise whose value does not exceed a certain amount, not more than $2,500 (currently not greater than $1,250), and/or when different commercial facilitation and risk considerations that may vary for different classes or kinds of merchandise or different classes of transactions may dictate. Requires the Secretary upon seizure and forfeiture of imported merchandise bearing a counterfeit mark to dispose of such merchandise more than 90 days (currently, one year) after such forfeiture. Authorizes withdrawal of imported merchandise from a warehouse for transfer to a foreign trade zone. Authorizes the Customs Service to order the destruction or other appropriate disposition of vessels, vehicles, aircraft, merchandise, or baggage that has been seized under the customs laws if it determines that the expense of keeping such items is disportionate to their value (currently applies only to items of less than $1,000 in value). Authorizes the use of funds from the Customs Forfeiture Fund for the payment of: (1) certain transfer and storage charges and expenses; and (2) claims against Customs Service employees. Requires actions for fraud, gross negligence, and negligence, false drawback or refund claims, and restoration of lawful duties with respect to imported merchandise to be instituted within five years after the alleged violation or discovery of such fraud. Requires the Customs Service to be reimbursed the administrative cost and expense incurred in collecting fees on behalf of other Federal agencies. Authorizes the Secretary to settle, for no more than $50,000 in each case, claims for personal injury, death, or damage to, or loss of, privately owned property caused by an investigative or law enforcement officer of the Customs Service. Authorizes the Secretary to contract with persons for collection services to recover indebtedness arising under the customs laws, provided the Customs Service has exhausted all administrative efforts to collect such indebtedness. Subtitle D: Miscellaneous Provisions and Consequential and Conforming Amendments to Other Laws - Amends the Harmonized Tariff Schedule of the United States to exempt from such Schedule articles which are returned within 45 days after being exported from the United States as undeliverable and which have not left the custody of the carrier or foreign customs service. Prohibits such exportations from satisfying any requirement for exportation in order to receive a benefit from, or meet an obligation, to the United States as a result of such exportation. Declares that certain railway locomotives and railway freight cars on which no duty is owed are not subject to the entry or release requirements for imported merchandise under the Tariff Act of 1930. Exempts instruments of international trade, such as containers, lift vans, rail cars and locomotives, truck cabs and trailers, etc., from formal entry procedures. Requires them to be accounted for however, when imported to and exported from the United States through the manifesting procedures required for international carriers by the U.S. Customs Service. Amends the Internal Revenue Code and other specified Federal law with respect to: (1) certain expenditures from the Harbor Maintenance Trust Fund; and (2) coastwise trade vessels and U.S. vessels visiting foreign ports. Amends Federal law to grant the Court of International Trade exclusive jurisdiction of any civil action for review decisions of the Customs Service that deny, suspend, or revoke accreditation of private customs laboratories. Bars the commencement of such actions unless brought before such Court within 60 days of such decisions. Repeals specified provisions of Federal law. Requires the Commissioner of Customs to report to the Congress each fiscal year after FY 1992 on the collection of duties imposed under the antidumping and countervailing duty laws. Amends the Omnibus Budget Reconciliation Act of 1987 to authorize the Commissioner of Customs to obtain from the operators of centralized cargo examination stations information on fees paid for the provision of services at such stations. Requires the Commissioner to report to specified congressional committees on the payment of such fees. Amends the Customs and Trade Act of 1990 to require the Commissioner of Customs to: (1) devise a methodology for estimating the level of compliance with the U.S. customs laws; and (2) evaluate the extent to which such compliance was obtained during the 12-month period preceeding the 60th day before each fiscal year 1993 through 1995. Directs the Commissioner to initiate, and submit to the Congress, a compliance review of certain carrier services. Title III: Customs and Trade Agency Authorizations for Fiscal Years 1993 and 1994 - Amends the Tariff Act of 1930 to authorize appropriations to the United States International Trade Commission (ITC) for FY 1993 and 1994. Earmarks a specified amount for reception and entertainment expenses. Prohibits use of such funds for any special study, investigation, or report requested by an agency of the executive branch unless such agency reimburses the ITC for its costs. Amends the Customs Procedural Reform and Simplification Act of 1978 to authorize appropriations to the United States Customs Service for FY 1993 and 1994 for: (1) noncommercial operations; (2) commercial operations; and (3) the air interdiction program. Amends the Trade Act of 1974 to authorize appropriaitons to the Office of the United States Trade Representative for FY 1993 and 1994. Amends the Tariff Act of 1930 to authorize apropriations for FY 1993 and 1994 for certain expenditures from the Customs Forfeiture Fund relating to purchases by the Customs Service of evidence of smuggling of controlled substances. Amends the Trade Act of 1974 to eliminate the East-West Trade Statistics Monitoring System. Title IV: Miscellaneous Trade Provisions - Subtitle A: Nontariff Provisions - Directs the President to negotiate trade agreements that eliminate the adverse effects of anticompetitive practices on international trade. Requires the President to report to the Congress on the status of such negotiations. Expresses the sense of the Congress that the President, with respect to ensuring the effectiveness of the U.S. embargo of Cuba, should seek negotiations with countries that trade with Cuba to seek their agreement to restrict trade relations with it. Amends the Omnibus Trade and Competitiveness Act of 1988 to require the Secretary of the Treasury, at the request of the Secretary of Commerce (currently, authorizes the Secretary of the Treasury): (1) to take necessary action to ensure the attainment of the objectives of the machine tool decision of the President on May 20, 1986, and on December 27, 1991; and (2) to enforce any imported machine tool quantitative limitations, restrictions, or other terms contained in related bilateral arrangements. Requires the Secretary of the Treasury to enforce the quantitative limitations and other provisions of bilateral arrangements negotiated with Taiwan on December 31, 1991, pursuant to the President's machine tool decision of May 20, 1986, until bilateral agreements are negotiated with such country pursuant to the President's December 27, 1991, decision. Directs the ITC to report to the Congress propsals for consolidating and simplifying U.S. international trade laws. Requires the Director of the Congressional Research Service to make recommendations to the Congress about establishment of a special unit that would: (1) integrate the resources of the Service, the ITC, and other appropriate agencies; and (2) serve as a central and objective source of information for the Congress on data and trends in trade between the United States and foreign countries. Subtitle B: Foreign Subsidies and Countervailing and Antidumping Duty Amendments - Amends the Tariff Act of 1930 to require completion of reviews by the administering authority of the amount of duty with respect to countervailing and antidumping duty orders by the 270th day after the day on which a request for review was received. (Currently, there is no such deadline for completion of such a review.) Requires the ITC to consider contracts with long lead time as a factor when making material injury determinations with respect to an affected domestic industry in countervailing and antidumping duty investigations. Declares that the presence or absence of any factor the ITC is required to consider shall not give decisive guidance with respect to any threat of material injury determinations. Provides that, with respect to the determination of foreign market value of imported merchandise under investigation, no allowance shall be made to account for differences in input costs that are based on whether the end product made from the input is sold in the home market or exported. Requires the United States Customs Service to report annually to the administering authority on the amount of duties collected during each year under each countervailing and antidumping duty order. Requires the administering authority to make such data available to interested parties. Requires the administering authority, when determining whether imported parts or components are circumventing an antidumping or countervailing duty order or finding, and whether to include such parts or components in such order or finding, to consider: (1) the pattern of trade; (2) the value and sources of supply of parts or components historically used in completion or assembly of the merchandise subject to such order; (3) whether the manufacturer or exporter of such parts or components is related to the person who assembles or completes the merchandise sold in the United States from the parts or components produced in the foreign country with respect to which the order or finding applies; and (4) whether imports into the United States of the parts or components produced in such foreign country have increased after the issuance of such order or finding. Authorizes the administering authority to include within the scope of such order or finding imported parts or components that are used in the completion or assembly of certain merchandise sold in the United States and subject to such order or finding, provided: (1) such merchandise is completed or assembled in the United States from parts or components supplied by the exporter or producer with respect to which such order or finding applies, from suppliers that have historically supplied the parts or components to that exporter or producer, or from any party in the exporting country supplying parts or components on behalf of such exporter or producer; (2) the value of such imported parts and components is significant in relation to the total value of all parts and components used in the assembly or completion operation, excluding packing, of the imported merchandise covered by such order or finding; or (3) consideration of specified factors establishes a pattern of circumvention of a countervailing and antidumping duty order or finding. Enables the administering authority to base such a decision on any of such factors by itself, rather than on all of them together. Sets forth similar provisions for merchandise completed or assembled in other foreign countries. Directs the Secretary of Commerce and the ITC to study and report to the Congress on modification of standards applicable to the initiation of countervailing and antidumping duty actions in order to make petitioning for such initiations less costly and more accessible for domestic petitioners. Requires the USTR to report to the Congress on the operation of the Agreement Concerning the Application of the GATT Agreement on Trade in Civil Aircraft between the United States and the European Community. Expresses the sense of the Congress that the President should not enter into any international trade agreement on antidumping requiring changes in U.S. antidumping laws that would reduce the effectiveness of such laws as a remedy against injurious dumped imports. Urges the President to review antidumping provisions contained in the Draft Final Act Embodying the Results of the Uruguay Round of Multilateral Trade Negotiations dated December 21, 1991 and seek changes to strengthen the effectiveness of U.S. antidumping laws, including, but not limited to, changes in provisions dealing with cumulation of injury and dispute settlement. Expresses the sense of the Congress that the U.S. Government should not condone the use by foreign governments of trade distorting subsidies, including development subsidies, that cause material injury to U.S. industries. Subtitle C: Other Tariff Provisions - Amends the Trade Act of 1974 to remove the Union of Soviet Socialist Republics from the list of countries ineligible for designation as a beneficiary developing country under the Generalized System of Preferences. Amends the Harmonized Tariff Schedule of the United States to create a new tariff classification to cover imports of motor fuel blending stocks. Imposes a duty on such stocks. Revises the classification of linear alkylbenzenesulfonates and linear alkylbenzene sulfonic acids. Revises a specified subheading relating to nonalloy iron and steel pipes and tubes to include non-galvanized forms of such products. Increases the duty on certain other iron and steel pipes and tubes. Imposes a duty on galvanized nonalloy iron and steel pipes and tubes having a specified thickness. Increases the duty on certain stainless steel pipes and tubes. Authorizes the USTR to negotiate compensation for claims made pursuant to the General Agreement on Tariffs and Trade, or any other trade agreement to which the United States is a party, as a result of the amendments made by this Act. Requires the Secretary of the Treasury, with respect to producers of watches in the insular possessions of the United States who are wage certificate holders, to pay to such a holder, at the holder's election, the face value of such certificates less the value of: (1) any duty refunds claimed by the holder under the certificate; and (2) any duty refunds under such certificate that are sold by such holder. Grants duty-free treatment of articles (not over $600 in value) acquired in Bermuda. Grants duty-free treatment to sweaters in which the number of U.S. citizens, nationals, or resident aliens who perform the assembly operations (in Guam) comprise at least 50 percent of the total number of assembly production workers. Sets forth specified exceptions. Provides that stuffed dolls and doll skins that are imported into the United States on or after December 31, 1985, and before October 1, 1988, shall be liquidated as duty free as of October 1, 1988. Declares that a specified production incentive certificate shall be deemed to have been reissued on the 15th day after the enactment of this Act, and shall expire one year after such day. Amends the Tariff Act of 1930 to exempt semiconductors from the country of origin marking requirements under such Act. Amends the Foreign Trade Zones Act to extend until December 31, 1994, the exclusion of bicycle component parts from the exemption from customs laws provided by such Act. Treats certain entries of fabric wholly of polyamide as having been exported from the United States in accordance with and in satisfaction of the temporary importation bond and obligations of The Umbrellas: Joint Project for Japan and U.S.A. Corporation if specified conditions are met. Amends the Harmonized Tariff Schedule of the United States to authorize the extension of time (not to exceed five years) for the exportation of articles to be repaired, altered, or processed, including processes which result in articles manufactured or produced in the United States, that are imported duty-free under bond, provided that any extension beyond the third year must be accompanied by the importer's certification that such articles are to be incorporated into a communications satellite. Subjects to liquidated damages any such articles imported after January 1, 1983, and before the effective date of this Act, that are certified by the importer as having been dedicated for incorporation into a communications satellite, and as not having been exported within the time required because of launch schedule delays. Limits such liquidated damages to a maximum one percent of the liquidated damages established under the bond.
United States · United States Congress · 8 April 1992
Medicare Program Protection Act of 1992 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to authorize adjustments to discretionary spending limits to allow additional spending for the administration of the Medicare program by fiscal intermediaries and carriers for FY 1993, 1994, and 1995.
United States · United States Congress · 1 April 1992
Unemployment Compensation Amendments of 1992 - Title I: Extension of Emergency Unemployment Compensation Program - Amends the Emergency Unemployment Compensation Act of 1992 (Public Law 102-164, as amended) to extend the emergency unemployment compensation (EUC) program. Changes the EUC program termination date (currently July 4, 1992) to the earliest of: (1) April 1, 1993; (2) the first day of the third month after the first month (after June 1992) for which the applicable unemployment rate is less than six and one-half percent; or (3) the first day of the first month (after June 1992) for which the applicable unemployment rate is less than six percent. Makes the applicable unemployment rate for any month, for such purposes, the average rate (seasonally adjusted) of total unemployment in all States for the most recent three calendar months for which data are published before the beginning of such month. Provides for reduction of benefits during periods after December 31, 1992. Modifies EUC eligibility requirements to: (1) make a 20-week work requirement inapplicable; (2) provide that an individual is not ineligible by reason of subsequent entitlement to regular benefits; and (3) provide certain transition rules, including a waiver of recovery of certain overpayments and an option to defer rights to certain regular benefits. Title II: Modifications to Extended Benefits Program - Amends the Federal-State Extended Unemployment Compensation Act of 1970 to modify trigger provisions for the extended benefits (EB) program. Provides for an EB State "on" indicator for a month if the average rate of total unemployment (seasonally adjusted) for the most recent three months for which data are published before the close of such month is: (1) six percent or more; and (2) 110 percent or more of such average rate for either (or both) of the corresponding three-month periods ending in the two preceding calendar years. (Current law uses the State insured unemployment rate, rather than the State total unemployment rate, in the trigger formula.) Provides for additional weeks of EB program benefits during high unemployment periods (when the trigger period average rate of total unemployment is eight percent or more). Repeals certain special eligibility requirements under the EB program. Increases the amount of Federal reimbursement under the EB program. Makes these amendments to the EB program effective on October 1, 1993, with certain exceptions. Title III: Modifications to Federal Unemployment Tax - Amends the Internal Revenue Code to modify the Federal unemployment tax rate. Allows elective withholding of Federal, State, or local income taxes from unemployment compensation (under the Internal Revenue Code and the Social Security Act). Title IV: Reemployment Assistance Programs - Amends the Internal Revenue Code to allow an additional credit against the Federal unemployment tax for taxpayers in States with reemployment assistance programs. Title V: Modification to Regular State Unemployment Compensation Programs - Amends the Internal Revenue Code to modify the base period under regular State unemployment compensation programs. Provides for treatment of short-time compensation programs which provide partial unemployment benefits to individuals whose workweeks have been reduced by at least ten percent. Allows State laws to provide for unemployment compensation funds to be withdrawn for the payment of such short-time compensation under a plan approved by the Secretary of Labor. Directs the Secretary of Labor to assist States in establishing and implementing short-time compensation programs by: (1) developing model legislative language and proposing appropriate revisions; and (2) providing technical assistance and guidance. Requires the Secretary to report to the Congress on implementation of these short-time compensation program provisions. Prohibits State laws from denying unemployment compensation to any individual by reason of the circumstances under which such individual separated from employment by any employer unless it was the individual's most recent separation from employment. Requires each employer covered under a State unemployment compensation law to: (1) post statements (prescribed by the State agency) regarding benefit rights and other matters in places readily accessible to employees; and (2) furnish to each terminated employee written statements (provided by the State agency) regarding claims for compensation. Title VI: Financing Provisions - Amends the Internal Revenue Code to extend by two years, through December 31, 1997, the following income tax provisions affecting high income taxpayers: (1) an overall limitation on itemized deductions; and (2) a phaseout of personal exemptions. Amends the Social Security Act to provide for transfer of revenues from income taxes on unemployment benefits to the Unemployment Trust Fund. Bases such transfers on estimates of benefit payments. Sets forth a transition rule requiring the Secretary of the Treasury, by the end of FY 1992, to transfer from the general fund of the Treasury to the Unemployment Trust Fund, for credit to the extended unemployment compensation account, an amount equal to that which would have been appropriated to the Unemployment Trust Fund for months beginning on or before enactment of this Act if such transfer amendments had been in effect for all months after December 31, 1990. Revises provisions for Federal unemployment accounts. Modifies provisions for the extended unemployment compensation account with respect to transfers, and increases the ceiling on such account. Reduces the ceiling on the Federal unemployment account. Provides for borrowing among the employment security administration account, the Federal unemployment account, and the extended unemployment compensation account. Amends specified Federal law relating to civil service employment to provide that if any Federal agency does not deposit a required amount in the Federal Employees Compensation Account for unemployment benefits within 30 days after notification by the Secretary of Labor, the Secretary of Labor shall notify the Secretary of the Treasury of such failure and that Secretary shall transfer such amount to such Account from amounts otherwise appropriated to such Federal agency. Title VII: Budgetary Treatment - Amends the Social Security Act to exclude the Unemployment Trust Fund (the Fund) from the unified budget, thus giving the Fund "off-budget" status (except amounts required to be deposited in the Federal Employees Compensation Account). Reduces certain discretionary spending limits for FY 1993 through 1995. Modifies certain maximum deficit amounts to provide for a decrease in FY 1993 and an increase in FY 1994 and 1995. Makes conforming amendments to the Congressional Budget Act of 1974 and the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA) (Gramm-Rudman-Hollings Act). Provides that any amount of new budget authority, outlays, or receipts resulting from this Act shall not be considered for any purpose under BBEDCA.
United States · United States Congress · 25 February 1992
Returns to the Senate S. 884 (driftnet moratorium enforcement) because in the opinion of the House of Representatives it contravenes the U.S. Constitution and infringes on the privileges of the House.
United States · United States Congress · 20 February 1992
Tax Fairness and Economic Growth Act of 1992 - Declares that any change in budget authority, outlays, or receipts resulting from this Act shall not be considered for sequestration or pay-as-you-go calculations under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Title I: Middle Class Tax Relief - Amends the Internal Revenue Code to allow a credit for 20 percent of a taxpayer's social security taxes, limited to $200 ($400 in the case of a joint return) and applicable to years beginning after December 31, 1991, and before January 1, 1994. Amends the Internal Revenue Code to allow a credit for interest paid or incurred on a qualified education loan for a six-year period (whether or not consecutive). Limits such credit to $300 per individual whose education expenses are being financed by such loan. Allows higher limits for taxpayers with large amounts of education loan interest (not to exceed $500). Sets forth limits on the gross income of taxpayers eligible for such credit. Allows the carryover of unused credit limited to the fifth taxable year for which the credit was originally determined. Allows penalty-free withdrawals from individual retirement plans for a first-home purchase. Limits such distribution to $10,000, or other applicable amount if previous distributions have been made. Allows penalty-free withdrawals from qualified retirement plans for qualified higher education expenses and deductible medical expenses. Declares that for purposes of medical expenses all children, grandchildren, and ancestors of the employee or the employee's spouse are to be treated as dependents. Allows the one-time exclusion on gain from the sale of a principal residence to be taken if the taxpayer is permanently and totally disabled. Indexes the exclusion amount for inflation. Allows a taxpayer to include farm property contiguous to such principal residence in the exclusion, if such property is being actively farmed. Excludes from the gross income of an individual the following qualified employer-provided transportation fringe benefits: (1) the value of transportation in a commuter highway vehicle between the employee's residence and workplace; and (2) up to $60 per month of the value of any transit pass entitling the employee to transportation on mass transit facilities. Provides that the exclusion from gross income for the working condition fringe benefit includes employer-provided parking on or near a location from which the employee commutes to work by mass transportation, by vanpool, or by carpool. Extends the deduction for health insurance costs for self-employed individuals from June 30, 1992, to December 31, 1992. Title II: Job Creation, Growth, and Investment Incentives - Subtitle A: Temporary Investment Incentives - Increases the amount of certain depreciable business assets by small business for taxable years 1992 and 1993. Permits an additional depreciation allowance for the purchase of new equipment as investment property after February 1, 1992, and before January 1, 1993, which is placed in service before July 1, 1993. Reduces the basis adjustment of such property by the amount of the additional allowance. Allows such deduction in determining the alternative minimum tax. Subtitle B: Capital Gain Provisions - Requires indexing, based on the consumer price index, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset or property used in a trade or business) acquired on or after February 1, 1992, and held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain. Provides that gains and losses from the disposition of indexed assets are not taken into account as investment income in computing the limitation on the deductibility of investment interest. Sets forth a special rule to recapture the entire amount of depreciation for such indexed property. Allows noncorporate taxpayers to elect to recognize gain on readily tradable securities held on February 1, 1992. Permits both corporate and noncorporate taxpayers an income tax exclusion of 50 percent of the net capital gain from an investment in the stock of a qualified small business if the stock is issued after February 1, 1992, and held for at least five years. Adds the amount of the exclusion for capital gain from such investments as a tax preference item for purposes of determining alternative minimum tax liability. Subtitle C: Real Estate Provisions - Part I: Modification of Passive Loss Rules - Provides for the treatment of rental and nonrental real estate activities under the limitations on losses from passive activities. Part II: Provisions Relating to Real Estate Investments by Pension Funds - Modifies exceptions to the exclusion of real property acquired by a qualified organization from the meaning of acquisition indebtedness. Makes certain exceptions inapplicable to sales out of foreclosure by a financial institution. Applies the meaning of acquisition indebtedness to investments in certain large partnerships where the principal purpose of partnership allocation is not tax avoidance. Repeals the special rule for publicly traded partnerships with respect to the treatment of unrelated business taxable income. Permits a tax-exempt title-holding company to receive unrelated business taxable income of up to ten percent of its gross income, if the unrelated income is incidentally derived from the holding of real property. Excludes from unrelated business taxable income any gains from the sale, exchange or other disposition of real property acquired from financial institutions that are in conservatorship or receivership. Provides for the tax treatment of pension fund investments in real estate investment trusts. Subtitle D: Extension of Certain Expiring Tax Provisions - Makes permanent after June 30, 1992, the tax credit for increasing research activities and the low-income housing credit. Allows certain building owners to elect to use apartment size or family size in determining the credit's gross rent limitation. Makes permanent after June 30, 1992: (1) the targeted jobs credit; and (2) the authority to issue qualified mortgage bonds and qualified mortgage credit certificates. Provides for the tax treatment of resale price control and subsidy lien programs. Makes permanent after June 30, 1992: (1) the authority to issue qualified small issue bonds to finance manufacturing facilities and farm property; and (2) the tax exclusion for employer-provided educational assistance. Postpones the termination date of the excise tax on certain vaccines and the authority to make expenditures from the Vaccine Injury Compensation Trust Fund. Requires the Secretary of Health and Human Services to study certain aspects of the Trust Fund and report to specified congressional committees. Amends the Railroad Retirement Solvency Act of 1983 to make permanent the transfer of proceeds from the tax on certain railroad retirement benefits from the general fund of the Treasury to the Railroad Retirement Account. Subtitle E: Modifications to Minimum Tax - Amends the Internal Revenue Code to repeal the alternative minimum tax provision which treats as a preference item the amount by which the value of contributed capital gain property exceeds the basis of the property. Requires the Secretary of the Treasury (Secretary) to develop and implement a procedure to determine the value of donated property for income tax purposes prior to the charitable transfer. Restricts the determination of adjusted current earnings for purposes of computing alternative minimum taxable income to property placed in service after 1989 and before February 1, 1992. Subtitle F: Repeal of Certain Luxury Excise Taxes; Imposition of Tax on Diesel Fuel Used in Noncommercial Motorboats - Repeals the luxury excise tax on boats, aircraft, jewelry, and furs. Modifies the luxury excise tax on automobiles to index the $30,000 threshold for inflation occurring after 1990 and make such tax applicable to the first retail sale. Terminates such tax after 1999. Extends the current diesel fuel excise tax to diesel fuel used by motorboats. Exempts vessels used for commercial fishing, transportation for compensation or hire, or for business use other than predominantly for entertainment, amusement, or recreation. Retains excise taxes for diesel fuels used in motor boats in the General Treasury. (Current law requires transfer of such amounts to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund). Subtitle G: Urban Tax Enterprise Zones and Rural Development Investment Zones - Declares it to be the purpose of this Act to establish a demonstration program of providing incentives for the creation of tax enterprise zones in order to: (1) revitalize economicaly and physically distressed areas; (2) promote meaningful employment for zone residents; and (3) encourage individuals to reside in the zones in which they are employed. Part I: Designation and Tax Incentives - Amends the Internal Revenue Code to provide for the designation of tax enterprise zones during calendar years 1993 through 1995: (1) by the Secretary of Housing and Urban Development, in the case of an urban tax enterprise zone; and (2) by the Secretary of Agriculture, in consultation with the Secretary of Commerce, in the case of a rural development investment zone. Sets forth the eligibility criteria for designation of urban tax enterprise zones, including: (1) a population of not less than 4,000; (2) pervasive poverty, unemployment, and general distress; (3) a specified size; (4) a high unemployment rate and poverty rate; and (5) a required course of action designed to reduce the various burdens borne by employers or employees in the area. Sets forth the eligibility criteria for designation of rural development investment zones, including: (1) a population of not less than 1,000; (2) an area of general distress; (3) a specified size; (4) a high unemployment rate, poverty rate, and job loss rate; and (5) a required course of action designed to reduce the various burdens borne by employers or employees in the area. Provides that a course of action, which may not be federally funded, may include: (1) a reduction of tax rates or fees; (2) an increase in public services; (3) a reduction in government paperwork requirements; (4) business community commitments to provide jobs and job training; (5) special preference to minority contractors; (6) gifts of land for the operation of neighborhood businesses; (7) pooled health insurance; (8) loans by local financial institutions for business start-ups; and (9) special preference to low-income housing projects and private activity bonds. Allows an enterprise zone employment credit to small employers as a general business credit of 7.5 percent of the qualified zone wages. Allows such credit for the first five years of the employee's employment. Allows a deduction for the purchase of enterprise zone stock paid in cash. Limits such amount to: (1) $25,000 for any taxable year; (2) the overall limitation on zone incentives; or (3) $250,000 during the taxpayer's lifetime. Provides an additional depreciation allowance for the first taxable year that the property is placed in service. Establishes an annual overall limitation on the amount of tax incentives that can be provided with respect to an enterprise zone. Part II: Studies - Requires the Secretary and the Comptroller General each to report to the House Committee on Ways and Means and the Senate Committee on Finance on the effectiveness of the incentives provided by this subtitle in achieving its purposes. Title III: Revenue Increases - Subtitle A: Treatment of Wealthy Individuals - Creates a 35 percent tax bracket for certain higher incomes. Increases the tentative minimum tax for taxpayers other than corporations. Increases the individual minimum tax rate. Imposes a surtax on incomes in excess of $1,000,000, including estates and trusts. Delays for two years the expiration date of the overall limitation on itemized deductions and the phaseout of personal exemptions for high-income taxpayers. Disallows a deduction as a trade or business expense remuneration to certain employees in excess of $1,000,000. Subtitle B: Administrative Provisions - Modifies rules with respect to the failure of individuals and corporations to pay estimated income tax. Expands the 45-day interest-free period for refunding tax overpayments to all returns, as well as to amended returns and claims for refunds. Provides that if interest is not refunded within 45 days after the taxpayer files an amended return or claim for refund, interest will be paid only for periods after the date on which the return or claim is filed. Subtitle C: Other Revenue Provisions - Requires taking into account: (1) certain Federal Savings and Loan Insurance Corporation (FSLIC) assistance as compensation for loss; and (2) any FSLIC assistance for any debt for determining whether such debt is worthless and in determining the amount of any addition to a reserve for bad debts arising from such worthlessness or partial worthlessness. Requires the depreciation deduction for certain residential rental property to be determined by using a recovery period of 31 years. Requires such deduction for nonresidential real property to be determined by using a recovery period of 40 years. Increases the mileage requirement for the moving expense deduction. Requires a partner who contributes appreciated property to a partnership to include pre-contribution gain in income to the extent that the value or other property distributed by the partnership exceeds his adjusted basis in his partnership interest. Requires any dealer in securities that holds any security or hedge at the close of any taxable year to: (1) recognize gain or loss as if the security or hedge were sold on the last business day of the taxable year; and (2) take into account any such gain or loss in determining gross income for such year (the mark-to-market requirement). Provides that the uniform cost capitalization rules do not apply to any security or hedge to which the mark-to-market requirement applies. Title IV: Simplification Provisions - Subtitle A: Provisions Relating to Individuals - Repeals the supplemental young child credit and the supplemental health insurance credit. Increases the earned income credit for taxpayers with two or more qualifying children. Allows gain to be rolled over from one residence to another in the order the residences are purchased and used, regardless of reasons for the sale of the old residence. Sets forth a two-year residence rule for taxpayers who sell a residence pursuant to a divorce or marital separation for purposes of determining the rollover of gain on the sale of a principal residence. Provides an exception to the passive loss rules if the loss does not exceed $200. Permits the payment of taxes by credit cards to the extent provided by regulations. Provides for inflation adjustment of the dollar amounts involved in the election to claim a child's unearned income on the parent's return. Establishes a foreign tax credit limitation for individuals whose gross income is from sources outside the United States, consists entirely of qualified passive income, and the amount of creditable foreign taxes does not exceed $200. Excludes certain personal transactions from foreign currency rules. Limits the exclusion of combat pay from withholding to the amount excludable from gross income. Requires the Secretary to report to specified congressional committees on expanded access to simplified individual income tax returns and other actions taken to simplify them. Provides that the amount allowed as a deduction to rural mail carriers for the business expense of a vehicle shall be equal to qualified reimbursements. Amends the Technical and Miscellaneous Revenue Act of 1988 to repeal the rule on the business use of automobiles by rural mail carriers. Exempts from the luxury excise tax parts or accessories installed for use of passenger vehicles by disabled individuals. Subtitle B: Pension Simplification - Part I: Simplified Distribution Rules - Amends the Internal Revenue Code to allow distributions from qualified pension plans to be rolled over tax-free to an individual retirement account or another qualified plan or annuity. Repeals: (1) the $5,000 limitation on the exclusion of employees' death benefits; (2) the five-year forward income averaging for lump-sum distributions; and (3) the exclusion of net unrealized appreciation of employer securities. Establishes a method of taxing annuity payments by taking into account the investment in the contract and the number of anticipated payments. Requires qualified plans to allow participants to elect to have distributions transferred directly to another qualified plan. Part II: Increased Access to Pension Plans - Establishes a simplified employee pension plan that allows salary reduction arrangements for employers of fewer than 100 employees. Allows nongovernmental and tax-exempt organizations to participate in cash or deferred arrangements. Authorizes the Secretary, as a condition of sponsorship, to prescribe rules defining the duties and responsibilities of sponors of certain master and prototype retirement plans. Part III: Miscellaneous Simplification - Revises the definition of a leased employee to mean one whose services are performed under the control of a service recipient, instead of one whose services are historically performed by employees. Modifies the two-part nondiscrimination test for elective contributions under cash or deferred arrangements by permitting the use of the average deferral percentage for nonhighly compensated employees for the preceding year to be used in determining the permitted average deferral percentage for highly compensated employees for the current year. Provides alternative methods of satisfying the special nondiscrimination requirements applicable to elective deferrals and employer matching contributions. Redefines the term "highly compensated employee" for pension, profit sharing, stock bonus plan, etc. purposes. Makes such an employee one who is a five-percent owner (as under current law) or who has compensation from the employer in excess of $50,000 (or $62,345, as adjusted for 1992). Provides a special rule where no employees are treated as highly compensated. Provides that the cost-of-living adjustment with respect to any calendar year is based on the increase in the applicable index as of the close of the calendar quarter ending September of the preceding calendar year. Requires the rounding of such amounts to the nearest $1,000, except that elective deferrals and elective contributions to simplified employee pensions are rounded to the nearest $100. Permits certain employers to elect an alternative full funding limitation with respect to any defined benefit plan based solely on the accrued liability under such plan. Requires the Secretary to adjust the 150-percent current liability full funding limit for other plans if there is a revenue shortfall. Allows rural cooperative plans which include cash or deferred arrangements to make distributions to participants after attainment of age 59 1/2. Expands current rules treating union air pilots as a separate class of employees for minimum coverage requirements to include nonunion air pilots as well. Excludes from such special treatment air pilots whose principal duties are not customarily performed aboard aircraft in flight. Eliminates the special full vesting rule after ten years of service for employees subject to collective bargaining agreements under multiemployer plans. Provides special rules for distributions of deferred compensation plans of State and local governments and tax-exempt organizations. Permits in-service distributions of accounts that do not exceed a specified amount if no amount has been deferred under such account for two years and there has been no prior distribution under the cash-out rule. Increases the number of elections that can be made with respect to the time distributions must begin. Provides for the indexing of the dollar limit on deferrals. Modifies the treatment of governmental plans with repect to limits on contributions and benefits. Allows excess assets in qualified black lung benefit trusts to be used to pay accident and health benefits or premiums for insurance for such benefits for retired coal miners and their spouses and dependents. Provides that, for purposes of the excise tax, an employer reversion does not include certain amounts paid to the Federal Government by reason of certain government contracting regulations. Requires continuation of health coverage for employees, including retired employees, of failed financial institutions. Subtitle C: Treatment of Large Partnerships - Part I: General Provisions - Establishes special rules for large partnerships (250 or more partners) with respect to: (1) determining the income tax of a partner; (2) computing the taxable income of a large partnership; and (3) treatment of contributed property. Provides that a large partnership does not include one where: (1) substantially all of the partners (including retired partners, spouses, and certain personal service corporations) perform substantial services in addition to partnership activities; or (2) 25 percent or more of the average percentage of partnership assets consist of oil or gas properties. Establishes special rules for partnerships holding oil and gas properties. Establishes simplified audit procedures for large partnerships. Requires a partner's return to be consistent with the partnership return. Allows partnerships to take adjustments into account through an imputed underpayment procedure or a flow-through-to-partners procedure. Authorizes and directs the Secretary to make adjustments at the partnership level in any partnership item to the extent necessary to have such item treated in the manner required, after notifying the partnership of such adjustment through certified or registered mail. Specifies certain restrictions on such adjustments. Provides for judicial review of such adjustment with the Tax Court, the appropriate district court, or the Claims Court. Prohibits any adjustments from being made three years after the later of the date on which the return was filed, or the last day for filing such return, except in specified cases. Allows a partnership to file a request for an administrative adjustment of partnership items during such time periods and provides for judicial review where such request is not allowed in full. Requires large partnerships to furnish information returns to partners by the first March 15 following the close of the partnership's tax year. Authorizes the Secretary to require large partnerships, or any other partnership with 250 or more partners, to file their returns on magnetic media. Part II: Provisions Related to TEFRA Partnership Proceedings - Revises and sets forth new provisions relating to TEFRA (Tax Equity and Fiscal Responsibility Act of 1982) partnership proceedings. Provides for a declaratory judgment procedure in the Tax Court for treatment of non-partnership items with respect to an oversheltered return. Describes an oversheltered return as one which shows no taxable income and shows a net loss from partnership items. Provides for the partnership return to be determinative of the audit procedure to be followed. Suspends the period of limitations for making assessments for a partner who is named in a bankruptcy petition. Provides a special rule for a tax matters partner in bankruptcy. Permits a small partnership to have a C corporation as a partner and remain exempt from unified audit rules. Excludes a partial settlement agreement from the one-year limitation on assessment. Provides that if a TEFRA statute extension agreement is entered into, that agreement also extends the statute of limitations for filing refund claims until six months after the expiration of the limitations period for assessments. Provides a prepayment forum and a refund forum for raising the innocent spouse defense in TEFRA cases. Provides that partnership level proceedings include a determination of the applicability of penalties at the partnership level. Allows partners to raise any partner-level defenses in a refund forum. Specifies that an action to enjoin premature assessments of deficiencies attributable to partnership items may be brought in the Tax Court. Permits a party to appear before a court for the sole purpose of asserting that the period of limitations for assessing any tax attributable to partnership items has expired for that person. Provides for the treatment of premature petitions filed by notice partners or five-percent groups. Provides that the amount of the bond to stay assessment and collection should be based on the Tax Court's estimate of the aggregate liability of the parties to the action (and not all of the partners in the partnership). Suspends interest where there is a delay in computational adjustment resulting from TEFRA settlements. Subtitle D: Foreign Provisions - Part I: Simplification of Treatment of Passive Foreign Corporations - Repeals foreign personal holding company rules and foreign investment company rules. Exempts foreign corporations from the accumulated earnings tax and personal holding company rules. Provides for the treatment of personal service contracts under controlled foreign corporation rules. Replaces repealed provisions with revised rules for passive foreign corporations. Provides for taxing U.S. income on stock in passive foreign corporations through three alternative methods: (1) mark-to-market; (2) current inclusion; and (3) interest charge on excess distributions. Subjects less-than-25-percent shareholders of passive foreign corporations that are not U.S.-controlled, and who do not elect current inclusion, to the mark-to-market method or the interest-charge method for taxing income. Provides that, if a passive foreign corporation is U.S.-controlled, then every U.S. person owning stock in such corporation is subject to income inclusions under a modified version of controlled foreign corporation rules. Declares with regard to the mark-to-market method that: (1) if the fair market value of stock exceeds its adjusted basis, then the U.S. person shall include in gross income an amount equal to the amount of the excess; and (2) if the adjusted basis of stock exceeds the fair market value then the person shall be allowed a deduction equal to the lesser of the amount of such excess, or the unreversed inclusions. Describes a passive foreign corporation as any foreign corporation if: (1) 60 percent or more of its gross income is passive income; (2) the average percentage of assets which produce passive income or which are held for the production of passive income is at least 50 percent; or (3) such corporation is registered under the Investment Company Act of 1940, either as a management company or as a unit investment trust. Provides for the treatment of mark-to-market gain for purposes of the excise tax on undistributed income of regulated investment companies. Part II: Treatment of Controlled Foreign Corporations - Provides that if a controlled foreign corporation sells or exchanges stocks in other foreign corporations, then gain recognized on such sale or exchange shall be included in the gross income of such corporation as a dividend to the same extent that it wold have been included if such corporation were a U.S. person. Authorizes the Secretary to prescribe simplified methods for determining the amount of increase of limitations on the foreign tax credit. Revises provisions concerning: (1) determining pro rata share of gain from certain sales or exchanges of stock in certain foreign corporations; (2) basis adjustments in stock held by lower-tier foreign corporations; (3) determination of previously taxed income in redemptions through use of related corporations; and (4) treatment of branch profits tax exemptions or reductions Extends the application of the indirect foreign tax credit to certain controlled corporations below the third tier. Part III: Other Provisions - Establishes new rules for the translation of certain accrued foreign taxes. Modifies present rules for translating all other foreign taxes. Permits the use of the simplified limitation on the foreign tax credit in determining the alternative minimum tax foreign tax credit. Repeals the excise tax on outbound transfers to avoid income tax. Requires the full recognition of gain on a transfer of property by a U.S. person to a foreign corporation as paid-in surplus, or as a contribution to capital, or to a foreign estate, trust, or partnership. Allows the Secretary, in lieu of applying the full recognition rule, to provide regulations with principles similar to the principles for foreign corporations transferring property from the United States. Requires recognition of income under regulations issued to prevent Federal tax avoidance in the case of any corporate organization, reorganization or liquidation in which the status of a foreign corporation as a corporation is a condition for nonrecognition by a party to the transaction. Subtitle E: Treatment of Intangibles - Amends the Internal Revenue Code to allow an amortization deduction with respect to certain intangible property that is acquired and held by a taxpayer in connection with the conduct of a trade or business or an activity engaged in for the production of income. Provides for determining such deduction by amortizing the adjusted basis (for purposes of determining gain) of such intangible ratably over the 14-year period beginning with the month in which the intangible was acquired. Disallows any other depreciation or amortization deduction with respect to such intangible. Describes an amortizable intangible as: (1) goodwill; (2) going concern value; (3) certain specified types of intangible property that generally relate to workforce, information base, know-how, customers, suppliers, or other similar items; (4) any license, permit, or other right granted by a governmental unit, agency, or instrumentality; (5) any covenant not to compete (or other arrangement to the extent that the arrangement has substantially the same effect as a covenant not to compete) entered into in connection with the direct or indirect acquisition of an interest in a trade or business or substantial portion thereof; and (6) any franchise, trademark, or trade name. Excludes from treatment as an amortizable intangible: (1) any interest in a corporation, partnership, trust, or estate; (2) any interest under an existing futures contract, foreign currency contract, notional principal contract, interest rate swap, or other similar financial contract; (3) any interest in land; (4) certain computer software; (5) certain interests in films, sound recordings, video tapes, books, or other similar property; (6) certain rights to receive tangible property or services; (7) certain interests in patents or copyrights; (8) any interest under an existing lease of tangible property; (9) any interest under an existing indebtedness (except for the deposit base and similar items of a financial institution); and (10) a franchise to engage in any professional sport, and any item acquired in connection in such a franchise. Sets forth special rules governing the application of the amortization deduction. Provides for the treatment of certain computer software and leased property depreciation deductions excluded from the amortization rules. Continues the present-law treatment of certain contingent amounts that are paid or incurred on account of the transfer of a franchise, trademark, or trade name. Provides for the treatment of assumption reinsurance transactions of insurance companies. Provides for the treatment of certain payments to retired or deceased partners. Subtitle F: Other Income Tax Provisions - Part I: Provisions Relating to Subchapter S Corporations - Provides for determining whether a corporation has one class of stock, thus qualifying as an S corporation. Allows the Secretary to validate an invalid S corporation election by a small business corporation where the failure to properly elect S status was inadvertent or untimely. Provides that adjustments for distributions by an S corporation during a taxable year are taken into account before applying the loss for a year in determining the amount in the accumulated adjustment account. Repeals the rule that treats an S corporation in its capacity as a shareholder of another corporation as an individual. Repeals the rule that an S corporation may not be a member of an affiliated group of corporations. Eliminates the need to keep records of certain generally small amounts of earnings arising before 1983. Provides for the treatment of inherited stock. Part II: Accounting Provisions - Revises the look-back method for long-term contracts and provides that for purposes of such method, only one rate of interest is to apply for each accrual period. Provides a method for capitalizing certain indirect costs. Part III: Provisions Relating to Regulated Investment Companies - Repeals the requirement that less than 30 percent of the gross income of a regulated investment company be derived from the sale or disposition of any of the following which were held for less than three months: (1) stocks or securities; (2) options, futures, or forward contracts (other than those on foreign currencies); or (3) certain foreign currencies. Requires a broker to include on an information return with respect to gross proceeds from any disposition of stock in an open-end regulated investment company: (1) the basis of the stock disposed of; and (2) the portion of gross proceeds attributable to stock held for more than one year and the portion not so attributable (using a first-in, first-out basis). Defines an open-end regulated investment company as one which offers for sale or has outstanding any redeemable security of which it is the issuer. Sets forth special rules for determining the basis of stock in such companies. Permits a common trust fund to transfer substantially all of its assets to a regulated investment company without gain or loss being recognized by the fund or its participants under specified circumstances. Part IV: Tax-Exempt Bond Provisions - Repeals the $100,000 limitation on unspent proceeds under the one-year exception from arbitrage rebate requirements. Exempts earnings on bond proceeds invested in bona fide debt service funds from the arbitrage rebate requirements and the penalty requirement of the 24-month exception if the spending requirements of that exception are otherwise satisfied. Extends the initial temporary period for construction bonds for a period of 12 months if at least 85 percent of the available construction proceeds are spent within the original temporary period and the issuer reasonably expects to spend the remaining proceeds within the 12-month extension period. Provides for the treatment of tax or revenue anticipation bonds as separate issues. Repeals the five-percent disproportionate private business use test for private activity bonds. Increases the annual issuance limit for small issuers whose governmental bonds are not subject to rebate. Repeals the debt service-based limitation on investment in certain nonpurpose investments. Repeals certain expirated provisions. Part V: Election of Alternative Taxable Years - Revises provisions with respect to electing alternative taxable years. Allows a partnership, S corporation, or personal service corporation to elect a taxable year other than the required taxable year if the annual financial statements (if any) of the entity used for credit purposes or provided to the partners, shareholders, or other proprietors of the entity are based on a fiscal year ending in the same month as the taxable year elected. Increases the amount of the required payment that must be made by a partnership or S corporation that elects a taxable year other than the required taxable year. Requires an initial payment for any taxable year that a partnership or S corporation first makes or changes a taxable year election to increase the deferral period. Modifies the minimum distribution requirement for personal service corporations that elect a taxable year other than the required taxable year. Part VI: Other Provisions - Provides for treating certain revocable trusts as estates. Revises the provision that the taxable year of a partnership closes with respect to a partner whose entire interest in the partnership terminates, whether by death, liquidation or otherwise. Repeals the adjusted current earnings rule relating to the treatment of built-in-losses after a change of ownership. Subtitle G: Estate and Gift Tax Provisions - Allows the right of recovery with respect to qualified terminable interest property (for which a marital deduction is allowed) to be waived in a will only by specific reference. Provides that a transfer from a revocable trust within three years of death does not result in the inclusion of the transfer in the gross estate if it is a gift worth $10,000 or less. Revises the qualified terminable interest rules with respect to a trust and the marital deduction. Revises provisions concerning estate bequests to a surviving spouse to declare that a "specific portion" of such estate only includes a portion determined on a fractional or percentage basis. Provides that a trust created before the enactment of the Revenue Reconciliation Act of 1990 is treated as satisfying the withholding requirement if its trust instrument requires that all trustees be U.S. citizens or domestic corporations. Directs the Secretary to prescribe procedures which provide that executors will have the opportunity to submit subsequent information on a recapture agreement in the filing of an estate tax return with respect to the special use valuation of farm property. Subtitle H: Excise Tax Simplification - Part I: Fuel Tax Provisions - Consolidates diesel and aviation fuel tax provisions. Consolidates the user credit and refund provisions for the fuels excise taxes. Combines the three refund procedures for fuels taxes into a uniform refund procedure. Eliminates the waiver requirement for fuels tax refunds for cropdusters and other fertilizer applicators. Provides exceptions to the mandatory information return requirement for certain sales of diesel and aviation fuels. Part II: Provisions Related to Distilled Spirits, Wines, and Beer - Makes tax refunds available for imported bottled distilled spirits returned to distilled spirits plants. Permits records of exportation to be maintained by the exporter for purposes of canceling or crediting bonds furnished when distilled spirits are removed from bonded premises. Permits distilled spirits plants to maintain records of their activities at locations other than the premises where the operations covered by the records are performed. Allows beer to be transferred without payment of tax from a brewery to a distilled spirits plant to be used in the production of distilled spirits regardless of whether the brewery is contiguous to the distilled spirits plant. Repeals the requirement that wholesale liquor dealers post a sign outside their place of business indicating that they are wholesale liquor dealers. Repeals the requirement that wine returned to bonded premises be unmerchantable in order for tax to be refunded to the proprietor of the bonded wine celler to which the wine is delivered. Allows the use of ameliorating material in certain wines made exclusively from a fruit or berry. Allows domestically-produced beer to be withdrawn from the place of production without payment of tax for the official or family use of representatives of foreign governments or public international organizations. Allows beer to be removed from a brewery without payment of tax for purposes of destruction. Allows drawback on exported beer without submission of records. Provides for imported beer in bulk containers to be withdrawn from customs custody for transfer to a brewery without payment of tax. Part III: Other Excise Tax Provisions - Authorizes the exemption from registration requirements of certain tax-free sales. Repeals expired provisions concerning piggy-back trailers and deep seabed mining. Subtitle I: Administrative Provisions - Part I: General Provisions - Includes railroad retirement taxes under rules for deposits of social security and withheld income taxes. Revises such rules to change required days of deposits, take into account small depositors, and provide a safe harbor for depositors with a shortfall. Amends the Railroad Retirement Solvency Act of 1983 to conform to such revisions. Changes the threshold for withholding and paying social security taxes from $50 a quarter to $300 a year for domestic service in a private home. Requires employers of household employees only to report any social security or Federal unemployment tax obligation for wages paid to such employees on their income tax returns. Includes a household employer's social security and employment taxes in the estimated tax provisions. Authorizes the Secretary to enter into agreements with States to collect State unemployment taxes in the same manner. Revises the rules on required installments of estimated income tax by small corporations where such corporations have no tax liability for a preceding year. Allows corporations to disregard any letter or notice of assessment or proposed assessment of tax if the deficiency or proposed deficiency is less than $100,000. Incorporates into the general penalty structure the penalties for failure to provide information reports relating to pension payments. Allows reproductions of returns in digital image format by the Internal Revenue Service. Requires the Comptroller General of the United States to conduct a study of available digital image technology and report to specified congressional committees. Repeals: (1) the requirement to register tax shelters; (2) the authority to disclose whether a prospective juror has been audited; and (3) special audit provisions regarding the tax treatment of subchapter S corporations. Provides that the statute of limitations with respects to the return of a taxpayer begins running from the time the taxpayer's return is filed, not someone else's return (where the taxpayer has received an item of income, gain, loss, credit or deduction from that other person). Part II: Tax Court Procedures - Provides that an order to refund an overpayment is appealable in the same manner as a decision of the Tax Court. Declares that the Tax Court shall not have jurisdiction over the validity or merits of the credits or offsets that reduce or eliminate the refund to which the taxpayer was otherwise entitled. Provides that a taxpayer who seeks an award of administrative costs must apply for such costs within 90 days of the date on which the taxpayer was determined to be a prevailing party. Provides that a taxpayer who appeals a denial of administrative costs must petition the Tax Court within 90 days after the date that the IRS mails the denial notice. Provides that a taxpayer must file a motion (rather than a petition) to seek a redetermination of interest in the Tax Court. Provides that the net worth limitations applicable to individuals also apply to estates and trusts. Provides that individuals who file a joint tax return shall be treated as one individual for purposes of computing the net worth limitations. Part III: Authority for Certain Cooperative Agreements - Authorizes the Secretary to enter into cooperative agreements with State tax authorities for purposes of enhancing joint tax administration. Title V: Taxpayer Bill of Rights - Subtitle A: Additional Safeguards to Protect Taxpayers' Rights - Part I: Taxpayers' Advocate - Amends the Internal Revenue Code to establish in the Internal Revenue Service (IRS) the Office of Taxpayers' Advocate, headed by the Taxpayers' Advocate, appointed by the President, by and with the advice and consent of the Senate. Requires the Office to: (1) assist taxpayers in resolving problems with the IRS; (2) identify areas in which taxpayers have problems in dealings with the IRS; (3) propose changes in the administrative practices of the IRS to mitigate such problems; and (4) identify potential legislative changes which may be appropriate to mitigate such problems. Requires the Taxpayers' Advocate to report annually to specified congressional committees on Office activities. Requires the Commissioner of Internal Revenue to establish procedures requiring a formal response to all recommendations submitted to the Commissioner by the Taxpayers' Advocate. Authorizes the terms of a Taxpayer Assistance Order to require the Secretary to take certain actions (currently, only to cease or refrain from taking such actions). Part II: Modifications to Installment Agreement Provisions - Requires prior notification to taxpayers under an installment agreement to pay tax liability before altering, modifying, or terminating such an agreement. Provides for administrative review of denials of requests for installment agreements. Suspends the failure to pay penalty during any period an installment agreement is in effect. Part III: Interest - Extends from ten days to 21 days the period for which interest will not be imposed after notice and demand for payment, if such payment is less than $100,000. Provides for the abatement of interest in the case of an assessment due to the error or delay of an IRS managerial act. Part IV: Joint Returns - Allows the disclosure of collection activities to an individual requesting such information in the case of a joint return where such individual is no longer married to or residing in the same household as the other joint filer. Removes limitations on filing a joint return after filing separate returns. Part V: Collection Activities - Authorizes the Secretary, if it is determined to be in the best interest of the taxpayer and the United States, to: (1) withdraw a notice of a lien; (2) return property that has been levied upon; and (3) offer compromises in civil or criminal cases. Requires the Secretary, at the request of the taxpayer, to make reasonable efforts to notify credit reporting agencies and financial institutions of a withdrawal notice. Part VI: Erroneous and Fraudulent Information Returns - Requires payee statements to provide the phone number of the person providing payment. Establishes civil damages for the fraudulent filing of information returns. Requires the Secretary, when determining a deficiency based on an information return filed by a third party, to take reasonable steps to corroborate the accuracy of such information, when such return is disputed by the taxpayer. Part VII: Modifications to Penalty for Failure to Collect and Pay Over Tax - Declares that a person shall not be liable for any penalty for failure to collect and pay over tax if such person: (1) is not a significant owner, or highly compensated employee of the trade or business; (2) notifies the Secretary within ten days after such failure; and (3) such notification was given before any notice by the Secretary with respect to such failure. Requires the Secretary to disclose certain information where more than one person is liable for a penalty. Part VIII: Awarding of Costs and Certain Fees - Makes IRS employees personally liable in certain cases in which the prevailing party is awarded a judgment for legal costs if the court determines that such proceedings resulted from the arbitrary, capricious, or malicious act of such employee. Provides that any failure to agree to an extension of time for the assessment of any tax shall not be taken into account in determining whether a prevailing party has exhausted all administrative remedies. Part IX: Other Provisions - Revises provisions on the required content of tax due, deficiency, and other notices. Provides for the treatment of returns prepared for or executed by the Secretary for purposes of certain tax penalties. Subtitle B: Form Modifications; Studies - Part I: Form Modifications - Directs the Secretary to: (1) ensure that taxpayers are aware of Internal Revenue Code permission to pay tax in installments, extensions of time for payment of tax, and compromises of tax liability; (2) improve procedures for taxpayers to notify the Secretary of changes in names and addresses; (3) include in a specified publication a section on the rights and responsibilities of divorced individuals; (4) ensure that employees are aware of their responsibilities under the Federal tax depository system and that the public is aware of penalties for failure to collect and pay over tax; and (5) notify taxpayers of any payments that cannot be associated with any outstanding tax liability. Part II: Studies - Requires the Secretary to report to the congressional tax-writing committees on: (1) a pilot program for appeals of certain enforcement actions (including lien, levy, and seizure actions); (2) a study of ways to assist the elderly, physically impaired, foreign-language speaking, and other taxpayers with special needs to comply with tax laws; (3) the scope and content of the IRS taxpayer-rights education program for its officers and employees; and (4) cases involving complaints about misconduct of IRS employees and the disposition of such complaints. Requires the Comptroller General to report to the tax-writing committees on: (1) a study of notices of deficiency; (2) the accuracy and clarity of 25 of the most commonly used IRS forms, notices, and publications; and (3) a study of IRS employee-suggestion programs.
United States · United States Congress · 18 February 1992
Declares that the Congress: (1) commemorates the 50th anniversary of the Battle of Midway on June 4, 1992; (2) salutes the vision and dedication of those Americans who planned and participated in this heroic battle; (3) reveres the memory, bravery, and spirit of those who fought and perished in it; and (4) honors the sacrifices and devotions of those gallant men who fought in such battle and who, in a single master stroke, reversed the tide of war in the Pacific.
United States · United States Congress · 22 January 1992
Amends the Emergency Unemployment Compensation Act of 1991 (Public Law 102-164) to add 13 weeks to the number of weeks of benefits payable under the emergency unemployment compensation program. Provides for a total number of weeks of such emergency benefits as follows: (1) 33 weeks (currently 20) in higher unemployment States (with a total unemployment rate of nine percent or higher or an adjusted insured unemployment rate of five percent or higher, for specified periods); and (2) 26 weeks (currently 13) for all other States. Extends to October 3, 1992, the expiration date of the emergency unemployment program (currently June 13, 1992). (Makes a conforming amendment extending provisions for unemployment insurance benefits for certain railroad workers during periods of high national unemployment.) Requires that the provisions of (and amendments made by) this Act be treated as emergency requirements designated by the President and the Congress under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Requires that any amount of new budget authority, outlays, or receipts resulting from the provisions of (and amendments made by) this Act not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985.
United States · United States Congress · 25 November 1991
Tax Extension Act of 1991 - Title I: 6-Month Extension of Certain Expiring Tax Provisions - Amends the Internal Revenue Code to extend for six months the following expiring provisions: (1) the rules on allocating research and experimental expenditures in determining income from sources within or without the United States; (2) the credit for increasing research activities; (3) the tax exclusion for employer-provided educational assistance; (4) the tax exclusion for employer-provided group legal services plans; (5) the targeted jobs credit; (6) the energy investment credit for solar and geothermal property; (7) the low-income housing credit; (8) the authority to issue mortgage revenue bonds and mortgage credit certificates; (9) the authority to issue qualified small issue bonds to finance manufacturing facilities and farm property; (10) the itemized deduction for health insurance costs of self-employed individuals; (11) the credit for clinical testing expenses for certain drugs for rare diseases or conditions; and (12) the tax credit for charitable contributions of appreciated tangible property. Title II: Modification to Corporate Estimated Tax Provisions - Provides for a temporary increase (taxable years beginning after 1991 and before 1997) in the amount of installment payments in the case of corporations that underpay estimated taxes.
United States · United States Congress · 22 November 1991
Expresses the sense of the House of Representatives that any legislation with respect to the amortization of goodwill and certain other intangibles for Federal income tax purposes should contain a provision permitting taxpayers to elect in a consistent manner the provisions of such legislation with respect to transactions after that date on which H.R. 3035, 102d Congress, was introduced and before the effective date of such legislation.
United States · United States Congress · 21 November 1991
Federal Program Improvement Act of 1991 - Title I: Provisions Relating To The Medicare Program - Subtitle A: Durable Medical Equipment - Amends the Social Security Act to: (1) prohibit unsolicited telephone contacts from suppliers of items of durable medical equipment to Medicare (title XVIII of the Social Security Act) beneficiaries; (2) require suppliers to provide information to the Secretary of Health and Human Services (HHS) on sales and billing practices; (3) prohibit carrier forum shopping; (4) prohibit issuance of multiple provider numbers; (5) require a description of such items in forms explaining benefits; (6) require the Secretary to develop a standardized prescription for such items; (7) mandate adjustments to final payments amounts which the Secretary determines are not inherently reasonable; (8) require an advanced determination for decubitus care mattresses; (9) require the Secretary to report to specified congressional committees on implementation of advanced determination requirements; and (10) set forth miscellaneous study and reporting requirements respecting item definitions and quality standards, supplier costs, and items treated as prosthetics devices. Subtitle B: Secondary Payer Identification and Enforcement - Amends the Social Security Act to: (1) make changes to aid the identification of Medicare secondary payer situations and the recovery of erroneous payments from primary payers; and (2) set forth miscellaneous study and reporting requirements respecting carrier recovery efforts and contractor eligibility requirements. Title II: Customs Overtime Pay Reform - Revises the overtime pay system for U.S. Customs Service inspectors. Amends the Customs Procedural Reform and Simplification Act of 1978 to require the authorization for the Customs Service to specify the maximum amount available for payment of overtime. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to terminate reimbursement of appropriations for overtime costs. Requires a General Accounting office study and report to specified congressional committees on overtime costs. Title III: Availability And Use of Death Information Under The Old-Age, Survivors, And Disability Insurance Program - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to: (1) eliminate State restrictions on the use of death certificates to correct OASDI and other Federal benefit program information; (2) provide for the provision of Social Security Administration death information to States free of charge; and (3) restrict the use of social security account numbers by States which have not contracted to participate in the program providing for the exchange of death information. Requires an HHS study and report to specified congressional committees on improvements in gathering and reporting such information. Title IV: PBGC Report On Employers With Underfunded Plans - Requires the Pension Benefit Guaranty Corporation to submit an annual report to the Congress on employers with underfunded pension plans.
United States · United States Congress · 20 November 1991
Earned Income Credit Simplification Act of 1991 - Amends the Internal Revenue Code to revise the calculation of the earned income credit by: (1) repealing the supplemental young child credit and the health insurance credit; and (2) increasing the credit percentage of the taxpayer's earned income.
United States · United States Congress · 13 November 1991
Emergency Unemployment Compensation Act of 1991 - Title I: Emergency Unemployment Compensation Program - Establishes an emergency unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of emergency unemployment compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor to elect to trigger off an extended compensation period to provide emergency unemployment compensation to individuals who have exhausted their rights to regular compensation under State law, if the State is in a 20-week period or a 13-week period as defined under this Act. Begins such periods three weeks after the first week in which specified triggering requirements are met (and ends them three weeks after the first week in which such requirements are not met). Triggers the 20-week period for any week if: (1) the adjusted rate of insured unemployment (IUR) for such week and the immediately preceding 12 weeks is at least five percent; or (2) the average rate of total unemployment (TUR) in such State for the most recent six-calendar month period for which data are published before the close of such week is at least nine percent. Triggers the 13-week period for any week if: (1) the State IUR for such week and the immediately preceding 12 weeks is at least four percent; or (2) the State IUR for such period is at least 2.5 percent and the benefit exhaustion rate in the State for the most recent month for which data are available before the close of such week is at least 29 percent. Requires a State, under such an agreement, to establish an emergency unemployment compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 20 weeks for a 20-week period, determined as described above; (2) 13 weeks for a 13-week period, determined as described above; and (3) six weeks of benefits for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides for a minimum period. Provides, in general, that no emergency unemployment compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of November 17, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after July 4, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits, as exceptions to such general rule. Provides for payments to States having such agreements for emergency unemployment compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Authorizes appropriations to the extended unemployment compensation account of sums necessary to pay emergency unemployment compensation payable: (1) under specified provisions for former members of the Armed Forces; and (2) on the basis of certain services performed for nonprofit organizations or governmental entities, to which certain Internal Revenue Code provisions relating to State unemployment compensation law apply. Sets forth provisions relating to fraud and overpayments. Defines the individual eligibility period under this Act. Title II: Demonstration Program to Provide Job Search Assistance - Directs the Secretary to carry out a demonstration program to determine the feasibility of implementing job search assistance programs. Requires selection of three States to participate in such program, based on specified criteria. Requires that at least one of these States will replicate a prior successful demonstration project for job search assistance. Sets forth requirements for the program agreement with these States. Requires a job search assistance program, for purposes of this title, to: (1) require certain unemployment compensation recipients to participate in a qualified intensive job search program (the program) after receiving such compensation for at least six but not more than ten weeks during any benefit year; (2) entitle such individuals to an intensive job search program voucher; and (3) disqualify those who do not satisfactorily participate in such program from receiving such compensation for a specified period of not more than ten weeks. Makes such program requirements applicable to such recipients if, during a specified three-year period, they had at least 126 weeks of employment at wages of $30 or more a week with their last employer (or an equivalent amount computed under prescribed regulations). Sets forth exceptions to such program requirements and program qualifications. Provides that such vouchers entitle the organization (including the State employment service) providing the program to a payment from the State agency equal to the lesser of: (1) the reasonable costs of providing the program; or (2) the average weekly benefit amount in the State. Requires Federal payments from the extended unemployment compensation account to each participating State's account in the Unemployment Trust Fund in an amount equal to the payments made by the State agency for such program vouchers. Provides for payments on a calendar month basis, and for certification by the Secretary. Directs the Secretary to submit two interim reports and a final report to the Congress on the demonstration program under this title. Title III: Other Provisions - Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of required active duty by reserves for purposes for such payment. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary of Labor to establish such a council by February 1, 1992, and every fourth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Title IV: Financing Provisions - Amends the Deficit Reduction Act of 1984 to provide for permanent extension of provisions relating to collection of nontax debts owed to Federal agencies. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to extend the surtax imposed on employers through 1996. Amends the Internal Revenue Code to limit the use of the preceding year's tax for purposes of determining individual estimated tax payments. Title V: Railroad Unemployment Insurance - Amends the Railroad Unemployment Insurance Act to provide temporary extended railroad unemployment insurance benefits, to railroad employees who have less than ten years of service, for certain periods of high national unemployment. Provides for such extended benefits for up to 13 weeks (65 days of unemployment), through July 4, 1992. Sets forth transition and reachback provisions. Title VI: Guaranteed Student Loans - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to revise provisions relating to the Stafford student loan program (including guaranteed student loans and federally-insured student loans). Requires, in the case of such student loan applicants over age 21, that the lender: (1) obtain a credit report; and (2) require a cosigner for such applicants who have adverse credit histories. Allows the lender to charge such applicants for the actual cost of such credit reports, up to $25. Requires the lender to obtain the borrower's driver's license number, if any, at the time of application for such a student loan. Directs eligible institutions to require borrowers of any student loan under HEA to supply the following exit interview information: (1) their expected permanent address after leaving the institution; (2) the name and address of their expected employer; and (3) the name and address of their next of kin. Requires student loan interest-subsidy insurance program agreements to require the lender to obtain the borrower's authorization for entry of judgment against the borrower in the event of default. Provides for wage garnishment for student loan collection. Authorizes a guaranty agency, or the Secretary where appropriate, to garnish the disposable pay of an individual to collect the amount owed or the required repayment, subject to certain conditions. Provides for data matching. Authorizes the Secretary of Education to obtain from Federal agencies specified information relating to an individual for student loan collection purposes.
United States · United States Congress · 7 November 1991
Middle Class Tax Relief and Fairness Act of 1992 - Title I: Credit for Portion of Social Security Taxes - Amends the Internal Revenue Code to allow a credit for 20 percent of a taxpayer's social security taxes, limited to $200 ($400 in the case of a joint return) and applicable to years beginning after December 31, 1991, and before January 1, 1994. Title II: Revenue Increases - Subtitle A: Increase in Top Marginal Individual Income Tax Rates - Lowers the tax rates for certain taxpayers and increases the tax rate for certain higher incomes. Increases the tentative minimum tax for taxpayers other than corporations. Subtitle B: Surtax on Individuals With Incomes Over $1,000,000 - Imposes a surtax on incomes in excess of $1,000,000, including estates and trusts. Title III: Budget Provisions - Provides that any change in outlays or receipts resulting from this Act shall not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
United States · United States Congress · 5 November 1991
Designates December 4, 1991, as Federal Civilian Employee Remembrance Day to recognize contributions provided by Federal civilian employees during the attack on Pearl Harbor and during World War II.
United States · United States Congress · 1 November 1991
Emergency Unemployment Compensation Act of 1991 - Title I: Emergency Unemployment Compensation Program - Establishes an emergency unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of emergency unemployment compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor, in a period of a seven or eight percent total unemployment rate in that State (as defined under this Act), to elect to trigger an extended compensation period to provide emergency unemployment compensation to individuals who have exhausted their rights to regular compensation under State law. Requires a State, under such an agreement, to establish an emergency unemployment compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 20 for an eight-percent period, i.e. one triggered by an adjusted total unemployment rate (TUR) of eight percent or more in the State, for the most recent six calendar months with available data; (2) 13 for a seven-percent period; and (3) seven for a six-percent period or for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides for a minimum period of at least 13 weeks. Provides, in general, that no emergency unemployment compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of November 17, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after August 1, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits, as exceptions to such general rule. Provides for payments to States having such agreements for emergency unemployment compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Sets forth provisions relating to fraud and overpayments. Defines the eligible period under this Act. Provides that in no event shall an individual's period of eligibility include any weeks after the 39th week after the end of the benefit year for which the individual exhausted rights to regular compensation or extended compensation. Title II: Demonstration Program to Provide Job Search Assistance - Directs the Secretary to carry out a demonstration program to determine the feasibility of implementing job search assistance programs. Requires selection of three States to participate in such program, based on specified criteria. Requires that at least one of these States will replicate a prior successful demonstration project for job search assistance. Sets forth requirements for the program agreement with these States. Requires a job search assistance program, for purposes of this title, to: (1) require certain unemployment compensation recipients to participate in a qualified intensive job search program (the program) after receiving such compensation for at least six but not more than ten weeks during any benefit year; (2) entitle such individuals to an intensive job search program voucher; and (3) disqualify those who do not satisfactorily participate in such program from receiving such compensation for a specified period of not more than ten weeks. Makes such program requirements applicable to such recipients if, during a specified three-year period, they had at least 126 weeks of employment at wages of $30 or more a week with their last employer (or an equivalent amount computed under prescribed regulations). Sets forth exceptions to such program requirements and program qualifications. Provides that such vouchers entitle the organization (including the State employment service) providing the program to a payment from the State agency equal to the lesser of: (1) the reasonable costs of providing the program; or (2) the average weekly benefit amount in the State. Requires Federal payments from the extended unemployment compensation account to each participating State's account in the Unemployment Trust Fund in an amount equal to the payments made by the State agency for such program vouchers. Provides for payments on a calendar month basis, and for certification by the Secretary. Directs the Secretary to submit two interim reports and a final report to the Congress on the demonstration program under this title. Title III: Other Provisions - Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of required active duty by reserves for purposes for such payment. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary of Labor to establish such a council by February 1, 1992, and every fourth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Title IV: Financing Provisions - Amends the Deficit Reduction Act of 1984 to provide for permanent extension of provisions relating to collection of nontax debts owed to Federal agencies. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to extend the surtax imposed on employers through 1996. Amends the Internal Revenue Code to limit the use of the preceding year's tax for purposes of determining individual estimated tax payments. Title V: Railroad Unemployment Insurance - Amends the Railroad Unemployment Insurance Act to provide temporary extended railroad unemployment insurance benefits to railroad employees who have less than ten years of service, for certain periods of high national unemployment. Provides for such extended benefits for up to 13 weeks (65 days of unemployment), through July 4, 1992. Sets forth transition and reachback provisions. Title VI: Appropriations - Appropriates additional specified amounts, from the Employment Security Administration Account in the Unemployment Trust Fund, for: (1) State unemployment insurance and employment service operations for specified service operations for specified activities and administrative expenses related to amendments made by this Act; and (2) authorized expenses of the Advisory Council on Unemployment Compensation. Title VII: Budget Provisions - Provides that any amount of new budget authority, outlays, or receipts resulting from this Act shall not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts payments under title I (emergency unemployment compensation) of this Act from any sequestration order issued under specified provisions of such Act.
United States · United States Congress · 31 October 1991
Returns to the Senate S. 320 (Omnibus Export Amendments Act of 1991) because in the opinion of the House of Representatives it contravenes the U.S. Constitution and infringes on the privileges of the House.
United States · United States Congress · 24 October 1991
Health Insurance Reform and Cost Control Act of 1991 - Title I: Increase in Deduction for Health Insurance For Self-Employed Individuals - Amends the Internal Revenue Code to extend the current 25 percent tax deduction for health insurance costs of self-employed individuals through 1992, and to increase the deduction to 50 percent in 1993, 75 percent in 1994, and 100 percent in 1995 and thereafter. Title II: Improvements In Health Insurance For Small Employers - Subtitle A: Standards And Requirements of Small Employer Health Insurance Reform - Amends the Social Security Act to add a new title XXI (Health Insurance Standards) under part A (Small Employer Health Insurance Standards) of which the Secretary of Health and Human Services (HHS) is required to develop specific standards to implement the requirements outlined in the three successive paragraphs below and in part B (Prohibition of Discrimination Based on Health Status for Certain Services) of such new title as added below which health insurance plans provided by entities employing from two to 50 employees (small employer plans) must be certified as meeting in order to be issued. Requires each insurer to register with the Secretary and any applicable regulatory authority for each State in which it issues or offers a small employer plan. Specifies that no issuer may exclude from coverage any eligible employee or such employee's spouse or any dependent child to whom coverage is made available by a small employer. Requires, with respect to small employer plans, that insurers offering such plans guarantee that: (1) the same plans are available throughout the insurer's service area on a continuous, year-round basis; and (2) such plans are renewable, with specified exceptions. Requires a notice prior to expiration of the terms for renewal of the plan. Provides that except with respect to rates and administrative changes, such terms (including benefits) shall be the same as the terms of issuance. Requires that the period of renewal of each small employer plan be for a period of not less than 12 months. Details requirements with respect to the treatment of health maintenance organizations. Provides that an insurer may not offer to, or issue with respect to, a small employer a small employer plan with a term of less than 12 months. Provides that the premium index rate for any block of business of an insurer may not exceed the index rate for any other block of business by more than 20 percent, with specified exceptions. Requires small employer plan premiums within a block of business to be community-rated for a given geographical area, with limited adjustments for age and sex permitted under specified guidelines. Specifies that, in defining communities for rating purposes, no insurer may use a geographic area that is smaller than a metropolitan statistical area. Requires small employer plans to permit enrollment of (and compute premiums separately for) individuals based on specified beneficiary classes. Places restrictions on transfers of small employers among blocks of business. Requires that any variation in annual small employer plan premium increases be limited to five percent. Requires full disclosure of rating practices and other premium rate information when a small employer plan is offered to the employer. Requires annual actuarial certification of an insurer's compliance with the premium rate requirements of this paragraph for filing with the Secretary and any applicable regulatory authority. Requires small employer plans offered to contain a benefit package similar to the benefit package under Medicare (title XVIII of the Social Security Act), plus unlimited inpatient hospital services for children and specified pregnancy-related services, as well as the new preventive benefits added to the Medicare program by title V of this Act. Sets a single annual deductible of $250 per individual and $500 per family, indexed to annual increases in the contribution and benefit base. Makes deductibles inapplicable for preventive services provided consistent with any applicable periodicity schedules. Makes co-payments inapplicable for: (1) preventive services provided consistent with any applicable periodicity schedules; and (2) inpatient hospital services furnished to children. Sets an overall annual limit on deductibles and co-payments of $2,500 per individual and $3,000 per family, indexed in the manner described above. Preempts State mandates prohibiting the offering of the benefit package required to be contained in small employer plans. Directs the Secretary to provide for the establishment of a toll-free telephone information and complaint system which provides for: (1) a system for the receipt and disposition of consumer complaints or inquiries regarding compliance of small employer plans with the requirements outlined above; and (2) information to small employers about insurers in the local area that offer those plans that meet such requirements. Subtitle B: Tax Penalty on Noncomplying Insurers - Amends the Internal Revenue Code to impose an excise tax on: (1) insurers which issue small employer plans that do not comply with the requirements outlined above; and (2) small employers who self-insure for employee health benefits. Sets the amount of such excise tax for: (1) insurers at 25 percent of the gross premiums received from small employers in a year; and (2) small employers at 25 percent of the expenditures made for employee health benefits in a year. Subtitle C: Studies and Reports - Directs the Comptroller General of the United States to study and report to the Congress on the impact of the rating requirements for small employer plans outlined above on the availability and price of insurance offered to small employers along with recommendations for adjusting such requirements to eliminate variation in premiums associated with demographic factors. Title III: Improvements In Portability Of Private Health Insurance - Amends new title XXI (Health Insurance Standards) of the Social Security Act to add a part B (Prohibition of Discrimination Based on Health Status for Certain Services) under which all employer health plans (including self-insured plans) are barred from denying, limiting, or conditioning the coverage under (or benefits of) the plan with respect to standard health services based on the health status, claims experience, receipt of health care, medical history, or lack of evidence of insurability, of an individual. Provides that group health plan exclusions for pre-existing conditions shall be limited to six months, except with respect to newborns. Reduces such six-month period by up to three months of a period of continuous coverage of an individual for services with respect to a pre-existing condition. Amends the Internal Revenue Code to impose the same excise tax as imposed above on insurers who violate a requirement of part A (Small Employer Health Insurance Standards) on insurers who violate a requirement of part B (Prohibition of Discrimination Based on Health Status for Certain Services). Title IV: Health Care Cost Containment - Establishes in HHS the National Health Care Cost Containment Commission to: (1) review and make recommendations to the Secretary on the optional payments required below; and (2) report annually to the President and the Congress on increases in health care costs. Authorizes appropriations. Directs the Secretary to establish maximum payment rates based upon existing Medicare payment methodologies, including the extra billing limits for physician services, that purchasers may elect to pay for health care services. Requires service providers to accept the rates as payment in full, subject to civil monetary penalty. Directs the Secretary to develop uniform claims forms for use by beneficiaries and providers and uniform reporting standards to be employed by providers. Title V: Medicare Prevention Benefits - Amends the Medicare program to add annual screenings for colon cancer for individuals over age 50 and for breast cancer for women over age 64, vaccinations for influenza and tetanus-diphtheria, and well-child care services as program benefits. Directs the Secretary to establish and provide for ongoing demonstration projects providing for the coverage of other specified preventive services under Medicare to determine whether to include the coverage of such services for all individuals enrolled under Mediare part B (Supplementary Medical Insurance). Requires reports to specified congressional committees describing the findings made under such demonstration projects and the Secretary's plans for future such demonstration projects. Authorizes appropriations. Requires an Office of Technology Assessment study to develop a process for the regular review of Medicare coverage of preventive services. Requires a report to the Congress on such study.
United States · United States Congress · 24 October 1991
Amends the Tariff Act of 1930 to prohibit the President from designating as the chairman of the International Trade Commission (ITC) for any term any commissioner who is a member of the political party of which such chairman of the ITC for the immediately preceding term is a member.
United States · United States Congress · 21 October 1991
Medicaid Moratorium Amendments of 1991 - Amends the Technical and Miscellaneous Revenues Act of 1988 to: (1) delay until September 30, 1992, the issuance of regulations changing the treatment under the Medicaid program (title XIX of the Social Security Act) of voluntary contributions and provider-specific taxes; and (2) maintain current regulations that allow intergovernmental transfers as a source of a State's expenditures for which Federal matching funds are available under the Medicaid program. Directs the Secretary of Health and Human Services to submit to specified congressional committees a report on: (1) regulations to limit the use of voluntary contributions and provider-specific taxes to obtain Federal financial participation; (2) specific types of voluntary contributions and provider-specific taxes that may be used as sources of State expenditures for which Federal financial participation is available; and (3) any legislation that the Secretary believes is appropriate. Sets forth budget compliance provisions.
United States · United States Congress · 17 October 1991
Federal Supplemental Compensation Act of 1991 - Title I: Federal Supplemental Compensation Program - Establishes a Federal supplemental unemployment compensation program (Federal supplemental compensation). Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of Federal supplemental compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor, in a period of a seven percent total unemployment rate in that State (as defined under this Act), to elect to trigger off an extended compensation period to provide Federal supplemental compensation to individuals who have exhausted their rights to regular compensation under State law. Requires a State, under such an agreement, to establish a Federal compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 13 for a seven-percent period, i.e. one triggered by a total unemployment rate (TUR) of seven percent or more in the State, seasonally adjusted, for the most recent six calendar months with available data; and (2) seven for a six-percent period or for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides for a minimum period of at least 13 weeks. Provides, in general, that no Federal supplemental compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of November 3, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after July 4, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits, as exceptions to such general rule. Provides for payments to States having such agreements for Federal supplemental compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Authorizes appropriations to the extended unemployment compensation account of sums necessary to pay Federal supplemental compensation payable: (1) under specified provisions for former members of the Armed Forces; and (2) on the basis of certain services performed for nonprofit organizations or governmental entities, to which certain Internal Revenue Code provisions relating to State unemployment compensation law apply. Sets forth provisions relating to fraud and overpayments. Defines the eligible period under this Act. Provides that in no event shall an individual's period of eligibility include any weeks after the 39th week after the end of the benefit year for which the individual exhausted rights to regular compensation or extended compensation. Title II: Demonstration Program to Provide Job Search Assistance - Directs the Secretary to carry out a demonstration program to determine the feasibility of implementing job search assistance programs. Requires selection of three States to participate in such program, based on specified criteria. Requires that at least one of these States will replicate a prior successful demonstration project for job search assistance. Sets forth requirements for the program agreement with these States. Requires a job search assistance program, for purposes of this title, to: (1) require certain unemployment compensation recipients to participate in a qualified intensive job search program (the program) after receiving such compensation for at least six but not more than ten weeks during any benefit year; (2) entitle such individuals to an intensive job search program voucher; and (3) disqualify those who do not satisfactorily participate in such program from receiving such compensation for a specified period of not more than ten weeks. Makes such program requirements applicable to such recipients if, during a specified three-year period, they had at least 126 weeks of employment at wages of $30 or more a week with their last employer (or an equivalent amount computed under prescribed regulations). Sets forth exceptions to such program requirements and program qualifications. Provides that such vouchers entitle the organization (including the State employment service) providing the program to a payment from the State agency equal to the lesser of: (1) the reasonable costs of providing the program; or (2) the average weekly benefit amount in the State. Requires Federal payments from the extended unemployment compensation account to each participating State's account in the Unemployment Trust Fund in an amount equal to the payments made by the State agency for such program vouchers. Provides for payments on a calendar month basis, and for certification by the Secretary. Directs the Secretary to submit two interim reports and a final report to the Congress on the demonstration program under this title. Title III: Other Provisions - Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of required active duty by reserves for purposes for such payment. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary of Labor to establish such a council by February 1, 1992, and every fourth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Title IV: Financing Provisions - Amends the Deficit Reduction Act of 1984 to provide for permanent extension of provisions relating to collection of nontax debts owed to Federal agencies. Amends the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code to extend the surtax imposed on employers through 1996. Provides for a temporary increase in the FUTA wage base. Title V: Budget Provisions - Requires that any amount of new budget authority, outlays, or receipts resulting from the provisions of (and amendments made by) this Act not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts Federal emergency unemployment compensation program payments under title I of this Act from any sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985. Sets forth the applicable cost estimate of this Act for FY 1991 through 1996 for purposes of specified provisions of the Balanced Budget and Emergency Deficit Control Act of 1985.
United States · United States Congress · 19 September 1991
Federal Debt Management Responsibility Act of 1991 - Amends Federal law to limit the issuance of proceeds of Treasury obligations to lend any amount to a newly established Government-related corporation, unless: (1) such corporation is a designated qualified corporation; or (2) such borrowing is approved in advance in an appropriations Act. Directs the Secretary of the Treasury to annually report to the Congress on the impact on the public debt of borrowing by Government-related corporations.
United States · United States Congress · 16 September 1991
1992 White House Commemorative Coin Act - Directs the Secretary of the Treasury to issue one dollar silver coins emblematic of the White House. Mandates that the total surcharges received from the sale of such coins shall be promptly paid to the White House Endowment Fund to assist its efforts to raise an endowment as a permanent source of support for the White House Collection of fine art and historic furnishings, and for the maintenance of the historic public rooms of the White House.
United States · United States Congress · 2 August 1991
Emergency Unemployment Compensation Act of 1991 - Establishes an emergency unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of emergency unemployment compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of emergency benefits equal to regular benefits. Authorizes a State Governor, in a period of a seven or eight percent total unemployment rate in that State (as defined under this Act), to elect to trigger off an extended compensation period to provide emergency unemployment compensation to individuals who have exhausted their rights to regular compensation under State law. Requires a State, under such an agreement, to establish an emergency unemployment compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that the applicable limit in such account shall be equal to: (1) 20 for an eight-percent period, i.e. one triggered by a total unemployment rate (TUR) of eight percent or more in the State, seasonally adjusted, for the most recent three months with available data; (2) 13 for a seven-percent period; (3) seven for a six-percent period; and (4) four for any other period. Sets forth special rules relating to such applicable limits. Requires reduction in such account by the amount of extended benefits received by the individual relating to the same benefit year under the Federal-State Extended Unemployment Compensation Act of 1970. Sets the weekly benefit amount at the amount of regular compensation (including dependents' allowances) payable under the State law to the individual for such week for total unemployment. Provides for determination of periods and applicable triggers. Provides, in general, that no emergency unemployment compensation shall be payable to any individual under this Act for any week beginning: (1) before the later of September 1, 1991, or the first week following the week in which an agreement under this Act is entered into; or (2) after July 4, 1992. Sets forth transition and reachback provisions for the eligibility of certain individuals for such benefits. Provides for payments to States having such agreements for emergency unemployment compensation. Sets forth financing provisions. Requires that funds in the extended unemployment compensation account of the Unemployment Trust Fund be used to make payments to States having agreements under this Act. Sets forth provisions relating to fraud and overpayments. Defines the eligible period under this Act. Provides that in no event shall an individual's period of eligibility include any weeks after the 39th week after the end of the benefit year for which the individual exhausted rights to regular compensation or extended compensation. Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of required active duty by reserves for purposes of such payment. Amends the Social Security Act to establish an Advisory Council on Unemployment Compensation. Directs the Secretary of Labor to establish such a Council by February 1, 1992, and every fourth year thereafter. Requires each such Council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each Council to report to the President and the Congress by February 1 of the second year following the year in which it is required to be established. Requires the first Council report to include findings and recommendations on determining eligibility for extended unemployment benefits on the basis of unemployment statistics for regions, States, or subdivisions of States. Designates as emergency requirements, pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Holling Act) all direct spending amounts provided, and all appropriations authorized by this Act (for all fiscal years). Provides that this Act shall not take effect unless, by its enactment date, the President submits to the Congress a written designation of all such direct spending amounts and authorized appropriations as such emergency requirements.
United States · United States Congress · 2 August 1991
Health Insurance Coverage and Cost Containment Act of 1991 - Title I: Requiring Employers to Provide Health Insurance Coverage for Employees and Dependents or to Pay for Coverage Through the Public Health Plan - Amends the Social Security Act and the Internal Revenue Code to, respectively: (1) add a new title XXI under which employers are required to either enroll their employees and family members under a qualified employer health plan or provide information to the Secretary of Health and Human Services for enrollment instead in the public health plan created under a new title XXII of the Social Security Act and discussed under title II of this Act; and (2) impose a premium tax (set at nine percent of the employment wage base for 1993 and indexed to the rate of growth in public health plan benefits) on employers who fail to enroll their employees and family members under a qualified employer health plan and on such employers' employees, with employers paying 80 percent of the tax and employees paying the remaining 20 percent in order to pay for the basic health insurance coverage provided under the public health plan, impose an excise tax (set at $100 per day) on those employers who fail to provide the information necessary for enrollment under the public health plan, and set forth special rules and exceptions applicable in the imposition of such premium and excise taxes. Sets forth, under new title XXI of the Social Security Act, the rules for the enrollment of full- and part-time, seasonal, and temporary employees, including rules applicable in cases of families with more than one worker and where both employers offer enrollment under a qualified employer health plan. Phases in implementation of enrollment and tax payment requirements beginning on January 1, 1993 for employers with more than 100 employees. Requires that as of January 1, 1996 all employers must provide coverage or pay the premium tax for coverage under the public health plan. Allows the qualified employer health plan under which the employer must provide such benefit package to be either a private health plan or a self-insured plan, depending upon the size of the employer. Allows employers to charge employees up to 20 percent of the premium for such basic coverage. Outlines additional requirements for qualified employer health plan premiums and cost-sharing. Sets forth requirements for which the Secretary is to develop standards to certify a health plan as a qualified employer health plan. Requires the Secretary to: (1) establish procedures for the periodic review and recertification of plans as qualified employer health plans; and (2) terminate the certification of any such plan that no longer meets such standards. Requires employers to provide their employees and family members with a basic health benefit package that at least mirrors the benefits provided under the public health plan. Amends the Internal Revenue Code, the Employee Retirement Income Security Act of 1974, and the Public Health Service Act to repeal certain health insurance continuation requirements. Title II: Provision of Health Insurance Through a Public Health Plan - Amends the Social Security Act to add a new title XXII under which is created a public health plan similar to Medicare (title XVIII of the Social Security Act) under which those U.S. citizens who are not Medicare beneficiaries or enrolled under a qualified employer health plan under title I of this Act or under a Federal health plan are eligible to enroll for the basic health insurance benefits outlined below. Makes low-income individuals who enroll in the plan eligible for assistance to limit or eliminate their financial obligations for premiums, deductibles, and co-payments under the plan. Sets forth provisions detailing the application process for enrollment under the public health plan. Requires individuals who are eligible to enroll under the public health plan but have not applied for enrollment by January 1, 1996 to be automatically enrolled on a retroactive basis and subjected to a penalty of twice any premiums otherwise due. Provides that the benefits under the public health plan will generally be the same as those currently covered under Medicare, except that: (1) plan benefits will include the preventive services added to the Medicare program under title V of this Act, without co-payments or limits on days of care per spell of illness; (2) plan benefits will include hospital care for children, without co-payments or limits on days of care per spell of illness; (3) plan benefits will include specified pregnancy-related services, subject to a required periodicity schedule and prior authorization for certain services; and (4) there will be a single annual deductible of $250 per individual/$500 per family with an overall annual limit on deductibles and co-payments of $2,500 per individual/$3,000 per family indexed to the annual increases in the contribution and benefit base. Requires payments for services under the public health plan to be based on rates established by the Secretary, and approved by the Health Care Cost Containment Commission, under title III of this Act. Directs the Secretary to establish a global fee schedule for payment of obstetrical services with a disincentive for cesarean sections. Sets forth provisions for: (1) determining the amount of premiums to be charged individuals not connected to the work force and individuals who are employed on a part-time, seasonal, or temporary basis; and (2) collecting current and delinquent premium payments. Creates in the Treasury the Public Health Trust Fund to receive the funds generated from the premium and excise taxes imposed under this Act as well as from other specified revenues dedicated to the support of the plan. Directs the Secretary to provide for the: (1) submission of claims under new titles XXII and XVIII using uniform forms developed by the Health Care Cost Containment Commission established under title III of this Act; and (2) reporting to the Commission of information on required health services provided under such new titles pursuant to standards to be developed by the Commission. Sets forth administrative provisions applicable to the public health plan. Requires that the Secretary establish a toll-free telephone number for information on the public health plan. Authorizes the Secretary to conduct demonstration projects to: (1) improve the delivery and quality of health care services under new title XXII; and (2) increase the efficiency and effectiveness of the methods for paying for such services. Title III: Cost Containment - Sets a national limit on the health expenditures of the public health plan and qualified employer health plans for the services required to be covered for each year beginning in 1993. Indexes the limit each year to the rate of growth in the gross national product plus: (1) four percent for 1993 and 1994; (2) three percent for 1995 and 1996; (3) two percent for 1997 and 1998; (4) 1 percent for 1999 and 2000; and (5) zero percent for each year after 2000. Establishes the Health Care Cost Containment Commission to: (1) negotiate with health care providers to allocate national expenditures under the limit among the different classes of health care providers; (2) report annually to the Secretary on negotiation results and on the specific dollar amounts to be allocated to each class of providers; (3) review and approve or disapprove the ceilings for provider payment rates established below; (4) develop uniform reporting standards with respect to information involving the services required to be covered under the public health plan and under qualified employer health plans; (5) develop uniform claims forms for use under the public health plan, qualified employer health plans, and Medicare; (6) report periodically to the Congress and the public on the effect of this title on the delivery of such services; and (7) develop a national capital budget for health care facilities and equipment needed for the provision of such services. Authorizes appropriations. Directs the Secretary to establish maximum payment rates that may be charged by providers under the public health plan or under qualified employer health plans for the services such plans are required to cover. Allows the use of State uniform payment rates for services under the public health plan, qualified employer health plans, and Medicare, under certain conditions. Title IV: Group Health Insurance Reform - Amends the Social Security Act and the Internal Revenue Code to, respectively: (1) add a new title XXIII under which the Secretary is required to develop specific standards to implement requirements which group health insurance plans provided by employers must be certified as meeting in order to be issued, and to maintain, their qualified status; and (2) impose an excise tax (set at 50 percent of the gross premiums received during the taxable year) on the issuer of such a group plan which fails to meet such standards, with specified exceptions. Requires that no such group plans discriminate on the basis of health status, claims experience, receipt of health care, medical history, or lack of evidence of insurability. Requires the same treatment for pre-existing condition exclusions as is required for qualified employer health plans. Requires any health insurance carrier which offers small employer health plans to register with the Secretary. Requires such carriers to offer such plans to all small employers within their community on a continuous, year-round basis. Allows a carrier to refuse to issue or renew or terminate a plan only for nonpayment of premiums and fraud or misrepresentation. Disallows a carrier from offering to, or issuing with respect to, a small employer a small employer health plan with a term of less than 12 months. Requires such carriers to offer a benefit package which contains only the basic benefits all other employers are required to provide to their employees and dependents. Prohibits a small employer carrier from varying the remuneration paid a broker for the sale or renewal of any small employer health plan based on the claims experience associated with the group to which the plan was sold. Details notice and other requirements applicable to renewals. Requires that premiums and age-sex adjustments for all small employer plans of the same entity must be: (1) established based on a single cohesive rating system which is applied consistently for all employer groups and is not designed to treat groups differently based on health or risk status; and (2) actuarially certified each year. Prescribes beneficiary classes for enrollment. Requires premiums to be community-rated for a particular geographic area. Details disclosure and recordkeeping requirements for small employer plans. Sets forth requirements for health maintenance organizations. Directs the Secretary to provide for the establishment of a toll-free telephone information and complaint system which provides for: (1) a system for the receipt and disposition of consumer complaints or inquiries regarding the compliance of health plans with the requirements of this title; and (2) information to small employers about carriers that offer small employer health plans in the area covered by the regulatory authority. Directs the Secretary to periodically publish the names of issuers of insured employment-related small employer health plans that have been found to meet the applicable requirements of this title. Title V: Changes in Medicare Program - Amends the Medicare program to: (1) reduce the age of eligibility for Medicare by one year in each year beginning on January 1, 1993 until the age for eligibility reaches 60 on January 1, 1997; (2) add annual screenings for colorectal cancer for individuals over age 50 and for breast cancer for women over age 64, vaccinations for influenza and tetanus-diphtheria, and well-child care services as program benefits; and (3) make technical and conforming changes in provisions with respect to Medicare enrollment and participation agreements that reflect the additions of new titles XXI and XXII and to ensure the coordination of low-income assistance for Medicare beneficiaries. Directs the Secretary to establish and provide for ongoing demonstration projects providing for the coverage of other specified preventive services under Medicare to determine whether to include the coverage of such services for all individuals enrolled under Medicare part B (Supplementary Medical Insurance). Requires reports to specified congressional committees describing the findings made under such demonstration projects and the Secretary's plans for future such demonstration projects. Authorizes appropriations. Directs the Director of the Office of Technology Assessment (OTA) to conduct a study to develop a process for the regular review of Medicare coverage of preventive services. Requires an OTA report to specified congressional committees on such study. Title VI: Financing Provisions - Amends the Internal Revenue Code to provide additional funding for universal health insurance coverage through the imposition of: (1) a surtax applicable to the regular income tax or alternative minimum tax owed by individuals, corporations, and estates and trusts beginning in taxable year 1993 at six percent of such taxpayer's tax liability and reaching nine percent after taxable year 1995; (2) an increase in the hospital insurance taxable wage base from $125,000 to $200,000; (3) an increase in the hospital insurance payroll tax imposed on both employers and employees from 1.45 percent to 1.55 percent in 1993 and to 1.65 percent in 1966 and thereafter; and (4) an increase in the self-employment tax from 2.90 percent to 3.10 percent in 1993 and to 3.30 percent in 1996 and thereafter. Sets forth special rules applicable to estate and trust and corporate liability for the health surtax. Extends the current deduction for health insurance costs of self-employed individuals for 1992 and modifies such deduction for subsequent years to entitle self-employed individuals and owners of personal service corporations to deduct 100 percent of their health insurance costs if they provide to all their employees who work 17 1/2 hours or more per week health coverage under a plan that would qualify as a qualified employer health plan under new title XXI of the Social Security Act. Provides that if such coverage is not provided, then the deduction for health insurance expenses of such individuals is limited to 25 percent, until after 1996 when the deduction is set unconditionally at 100 percent of the costs of health insurance coverage. Title VII: Medicaid Provisions - Amends title XIX (Medicaid) of the Social Security Act to: (1) limit Federal financial participation for services covered under the public health plan; (2) provide for the continuation of Medicaid benefits not covered under the public health plan and the nonduplication of benefits with the public health plan; and (3) require payments under State Medicaid programs to hospitals and physicians to be increased during the transition period to full implementation of universal health insurance coverage.
United States · United States Congress · 25 July 1991
Amends the Internal Revenue Code to allow an amortization deduction with respect to certain intangible property that is acquired and held by a taxpayer in connection with the conduct of a trade or business or an activity engaged in for the production of income. Provides for determining such deduction by amortizing the adjusted basis (for purposes of determining gain) of such intangible ratably over the 14-year period beginning with the month in which the intangible was acquired. Disallows any other depreciation or amortization deduction with respect to such intangible. Provides that amortization intangibles do not include intangibles that are created by the taxpayer or that arise solely by reason of entering into a renewal of a contract to which the taxpayer is a party. Describes an amortizable intangible as : (1) goodwill; (2) going concern value; (3) certain specified types of intangible property that generally relate to workforce, information base, know-how, customers, suppliers, or other similar items; (4) any license, permit, or other right granted by a governmental unit, agency, or instrumentality; (5) any covenant not to compete (or other arrangement to the extent that the arrangement has substantially the same effect as a convenant not to compete) entered into in connection with the direct or indirect acquisition of an interest in a trade or business or substantial portion thereof; and (6) any franchise, trademark, or trade name. Excludes from treatment as an amortizable intangible: (1) any property of a kind that is regularly traded on an established market; (2) a patent or copyright that is not acquired in a transaction (or a series of related transactions) involving the acquisition of a trade or business or a substantial portion thereof; (3) a franchise to engage in any professional sport, and any item acquired in connection with such franchise; (4) any license, permit, or other right of an indefinite duration that is granted by a governmental unit, agency, or instrumentality; and (5) certain contract rights, to the extent provided in regulations, if such rights have a fixed duration and are not renewable and are not acquired in a transaction involving the acquisition of assets constituting a trade or business or substantial portion thereof. Sets forth special rules governing the application of the amortization deduction. Continues the present-law treatment of certain contingent amounts that are paid or incurred on account of the transfer of a franchise, trademark, or trade name. Provides for the treatment of assumption reinsurance transactions of insurance companies.
United States · United States Congress · 25 July 1991
Unemployment Insurance Reform Act of 1991 - Title I: Federal Supplemental Compensation Program - Subtitle A: Establishment of Program - Establishes a Federal supplemental unemployment compensation program. Allows any State to enter into and participate in an agreement with the Secretary of Labor (the Secretary) under which the State agency which administers the State unemployment compensation law will make payments of Federal supplemental compensation: (1) to individuals who have exhausted all rights to regular compensation under State law, have no rights to such regular compensation or any additional State or Federal compensation, and are not receiving Canadian compensation; and (2) for any week of unemployment beginning in the individual's eligibility period. Sets forth provisions relating to exhaustion of regular benefits and weekly amount of supplemental benefits equal to regular benefits. Requires a State, under such an agreement, to establish a Federal supplemental compensation account with respect to the benefit year of each eligible individual who files an application. Limits benefit payments to not more than the amount in the individual's account. Sets forth formulas for determining the amount in such account. Provides that such amount shall be equal to the lesser of: (1) 100 percent of the total amount of regular compensation (including dependents' allowances) payable to the individual with respect to the most recent regular benefit year; or (2) the applicable limit times the average weekly benefit amount for the benefit year. Sets the applicable limit at: (1) 20 for an eight-percent period, i.e. one triggered by a total unemployment rate (TUR) of eight percent or more in the State, seasonally adjusted, for the most recent three months with available data; (2) 15 for a seven-percent period; and (3) ten for a six-percent period. Sets forth special rules relating to such applicable limits. Coordinates the Federal supplemental compensation program with the trade readjustment allowance program under the Trade Act of 1974. Sets forth general, special, and transitional rules for supplemental benefit periods, individual eligibility periods, State on and off indicators, and a temporary national trigger. Sets forth provisions for payments to States having such agreements for Federal supplemental compensation. Sets forth reachback provisions for certain individuals' eligibility for such benefits. Sets forth provisions relating to fraud and overpayments. Subtitle B: Repeal of Extended Program - Repeals the Federal-State Extended Unemployment Act of 1970, and references to the extended unemployment compensation program (established by such Act) in the Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code and in the Social Security Act (SSA). Title II: Modifications to Eligibility Provisions - Amends FUTA to limit the circumstances under which individuals may be disqualified for unemployment compensation under State law. Amends specified Federal law to repeal certain limitations on payment of unemployment compensation to former members of the Armed Forces. Reduces the length of the period of required active duty reserves to qualify for such payments. Amends FUTA to allow optional unemployment benefits for certain school employees, by making denial of such benefits discretionary rather than mandatory. Amends FUTA with respect to the treatment of certain determinations with respect to claims for unemployment compensation benefits under State law. Amends FUTA to require State agencies administering unemployment compensation to approve any training program involving classroom training, occupational skill training, basic or remedial education, or literacy or remedial English training, in the case of any individual who has received compensation under State law for ten weeks or more during the benefit year (thus allowing such individual to receive such compensation while participating in such training). Title III: Demonstration Program to Provide Job Search Assistance - Directs the Secretary to carry out a demonstration program to determine the feasibility of implementing job search assistance programs. Requires selection of three States to participate in such program, based on specified criteria. Requires that at least one of these States will replicate a prior successful demonstration project for job search assistance. Sets forth requirements for the program agreement with these States. Requires a job search assistance program, for purposes of this title, to: (1) require certain unemployment compensation recipients to participate in a qualified intensive job search program (the program) after receiving such compensation for ten weeks during any benefit year; (2) entitle such individuals to an intensive job search program voucher; and (3) disqualify those who do not satisfactorily participate in such program from receiving such compensation for a specified period. Makes such program requirements applicable to such recipients if, during a specified three-year period, they had at least 126 weeks of employment at wages of $30 or more a week with their last employer (or an equivalent amount computed under prescribed regulations). Sets forth exceptions to such program requirements and program qualifications. Provides that such vouchers entitle the organization (including the State employment service) providing the program to a payment from the State agency equal to the lesser of: (1) the reasonable costs of providing the program; or (2) the average weekly benefit amount in the State. Requires Federal payments from the supplemental compensation account to each participating State's account in the Unemployment Trust Fund in an amount equal to the payments made by the State agency for such program vouchers. Provides for payments on a calendar month basis, and for certification by the Secretary. Directs the Secretary to submit two interim reports and a final report to the Congress on the demonstraton program under this title. Title IV: Financing Reforms - Amends the Social Security Act (SSA) to provide for transfers of income taxes on unemployment benefits to the Unemployment Trust Fund. Modifies provisions for Federal unemployment accounts. Provides for an increase in quarterly credits for States with adequate balances. Provides for appropriate adjustments in transfers to the Federal unemployment account. Raises a ceiling on the supplemental compensation account. Provides for borrowing between Federal accounts, under specified circumstances, with respect to: (1) the employment security administration account; (2) the Federal unemployment account; or (3) supplemental compensation and reemployment assistance account. Directs the Secretary, within 12 months, to report to the Congress a proposal for revising the method of allocating grants among the States for administration of the unemployment insurance program. Prohibits the Secretary from revising such method until 12 months after such report is submitted to the Congress. Amends the SSA to establish an Advisory Council on Unemployment Compensation. Directs the Secretary to establish such a council by December 31, 1991, and every fifth year thereafter. Requires each such council to evaluate the unemployment compensation program. Sets forth membership and staff provisions. Requires each council to report to the Congress by October 1 of the year following the year in which is required to be established. Terminates each council after it submits its report. Title V: Budget Compliance Provisions - Subtitle A: Congressional Designation of Emergency - Designates the provisions of (and amendments made by) this Act as emergency requirements, pursuant to specified provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Subtitle B: Effect of Failure of President to Designate Emergency - Declares that specified provisions of this subtitle shall take effect only if the President does not, on the date of enactment, designate the provisions of (and amendments made by) this Act as emergency requirements under the Balanced Budget and Emergency Deficit Control Act of 1965. Amends Federal Unemployment Tax Act (FUTA) provisions of the Internal Revenue Code relating to the rate of the Federal unemployment tax. Modifies the formula for determining such rate to make such FUTA excise tax on employers equal to: (1) five and four-tenths percent of the total wages paid during the calendar year with respect to employment; and (2) a specified percentage of the total Federal taxable wages paid during the calendar year with respect to employment. (Provides that such percentage shall be lowered as it is phased-in, from 0.4 percent in 1993 to 0.2 percent in 1997 and thereafter.) Makes conforming modifications to credit provisions and tax computation provisions. Sets forth the applicable cost estimate of this Act for FY 1991 through 1995 for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985. Provides, notwithstanding such cost estimate, for budgetary treatment under pay-as-you-go procedures. Sets forth findings relating to such treatment. Subtitle C: Additional Provisions - Exempts Federal supplemental compensation program payments under title I of this Act from any sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 for FY 1992 or any succeeding fiscal year.
United States · United States Congress · 16 July 1991
Authorizes the Secretary of Veterans Affairs to conduct a five-year pilot program to demonstrate the cost-effectiveness and advantages of furnishing care to elderly veterans in nursing homes in order to treat and reactivate or maintain day-to-day living functions in those veterans. Authorizes the Secretary to set a daily rate of reimbursement for such care. Authorizes appropriations for five fiscal years for increased costs of reimbursement of non-Department of Veterans Affairs nursing homes under such program. Requires the Secretary to submit interim and final reports to the Congress concerning the effectiveness of the pilot program.
United States · United States Congress · 10 July 1991
Social Security Trust Fund Integrity and Benefits Improvement Act of 1991 - Title I: Benefit Improvements - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to: (1) increase the amount of outside income which beneficiaries who have attained retirement age may earn without incurring a reduction in benefits; (2) increase survivors' benefits for those widows and widowers whose spouses died before they reached age 65; (3) repeal provisions which require that a widow or widower must have become disabled within seven years of their spouse's death or within seven years of the end of their eligibility for benefits as the surviving parent of a young child in order to be eligible for disability benefits; (4) raise the social security payroll tax exemption for State election officials and workers, and index the exempt amount beginning in 1993; and (5) increase the OASDI contribution and benefit base on a graduated basis beginning in 1992. Directs the Comptroller General to conduct a study and report to the Congress on the disability determination process and the appeals process applicable to disability determinations under the OASDI program and title XVI (Supplemental Security Income) (SSI) of the Social Security Act. Title II: Clarification of Budgetary Provisions - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to exclude the appropriations for the administration of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund from Federal budget deficit calculations and to exempt such appropriations from sequestration under such Act. Title III: Social Security Administration - Amends title VII (Administration) of the Social Security Act to establish the Social Security Administration as an independent executive agency. Transfers to the Administration all functions carried out by the Secretary of Health and Human Services pertaining to such programs.
United States · United States Congress · 26 June 1991
Tax Simplification Act of 1991 - Title I: Provisions Relating to Individuals - Amends the Internal Revenue Code to allow gain to be rolled over from one residence to another residence in the order the residences are purchased and used. Allows more than one rollover within a two-year period. Changes the due date for the second required installment for individuals who pay estimated tax. Permits the payment of taxes by credit cards to the extent provided by regulations. Provides for inflation adjustment of the dollar amounts involved in the election to claim a child's unearned income on the parent's return. Establishes a foreign tax credit limitation for individuals whose gross income is from sources outside the United States, consists entirely of qualified passive income, and the amount of creditable foreign taxes does not exceed $200. Excludes certain personal transactions from foreign currency rules. Establishes a different due date for large partnerships to file information returns. Limits the exclusion of combat pay from withholding to the amount excludable from gross income. Requires the Secretary of the Treasury to report to specified congressional committees on expanded access to simplified individual income tax returns and other actions taken to simplify them. Provides that the amount allowed as a deduction to rural mail carriers for the business expense of a vehicle shall be equal to qualified reimbursements. Amends the Technical and Miscellaneous Revenue Act of 1988 to repeal the rule on the business use of automobiles by rural mail carriers. Exempts from the luxury excise tax parts or accessories installed for use of passenger vehicles by disabled individuals. Title II: Treatment of Large Partnerships - Subtitle A: General Provisions - Establishes special rules for large partnerships (250 or more partners) with respect to: (1) determining the income tax of a partner; (2) computing the taxable income of a large partnership; and (3) treatment of contributed property. Provides that a large partnership does not include one where: (1) substantially all of the activities involve the performance of personal services by individuals owning interests in such partnership; or (2) 50 percent or more of partnership assets consist of oil or gas properties. Establishes simplified audit procedures for large partnerships. Requires a partner's return to be consistent with the partnership return. Allows partnerships to take adjustments into account through an imputed underpayment procedure or a flow-through-to-partners procedure. Authorizes and directs the Secretary of the Treasury to make adjustments at the partnership level in any partnership item to the extent necessary to have such item treated in the manner required, after notifying the partnership of such adjustment through certified or registered mail. Specifies certain restrictions on such adjustments. Provides for judicial review of such adjustment with the Tax Court, the appropriate district court, or the Claims Court. Prohibits any adjustments from being made three years after the later of the date on which the return was filed, or the last day for filing such return was filed, or the last day for filing such return, except in specified cases. Allows a partnership to file a request for an administrative adjustment of partnership items during such time periods and provides for judicial review where such request is not allowed in full. Authorizes the Secretary to require large partnerships, or any other partnership with 250 or more partners, to file their returns on magnetic media. Subtitle B: Provisions Related to TEFRA Partnership Proceedings - Revises and sets forth new provisions relating to TEFRA (Tax Equity and Fiscal Responsibility Act of 1982) partnership proceedings. Provides for a declaratory judgment procedure in the Tax Court for treatment of non-partnership items with respect to an oversheltered return. Describes an oversheltered return as one which shows no taxable income and a net loss from partnership items. Provides for the partnership return to be determinative of the audit procedure to be followed. Suspends the period of limitations for making assessments for a partner who is named in a bankruptcy petition. Permits a small partnership to have a C corporation as a partner. Excludes a partial settlement agreement from the one-year limitation on assessment. Provides that if a TEFRA statute extension agreement is entered into, that agreement also extends the statute of limitations for filing refund claims until six months after the expiration of the limitations period for assessments. Provides a prepayment forum and a refund forum for raising the innocent spouse defense in TEFRA cases. Provides that partnership level proceedings include a determination of the applicability of penalties at the partnership level. Allows partners to raise any partner-level defenses in a refund forum. Specifies that an action to enjoin premature assessments of deficiencies attributable to partnership items may be brought in the Tax Court. Permits a party to appear before a court for the sole purpose of asserting that the period of limitations for assessing any tax attributable to partnership items has expired for that person. Provides for the treatment of premature petitions filed by notice partners or five-percent groups. Provides that the amount of the bond to stay assessment and collection should be based on the Tax Court's estimate of the aggregate liability of the parties to the action (and not all of the partners in the partnership). Suspends interest where there is a delay in computational adjustment resulting from TEFRA settlements. Title III: Foreign Provisions - Subtitle A: Simplification of Treatment of Passive Foreign Corporations - Repeals foreign personal holding company rules and foreign investment company rules. Exempts foreign corporations from the accumulated earnings tax and personal holding company rules. Provides for the treatment of personal service contracts under controlled foreign corporation rules. Replaces repealed provisions with revised rules for passive foreign corporations. Provides for taxing U.S. income on stock in passive foreign corporations through three alternative methods: (1) mark-to-market; (2) current inclusion; and (3) interest charge on excess distributions. Subjects less-than-25-percent shareholders of passive foreign corporations that are not U.S.-controlled, and who do not elect current inclusion, to the mark-to-market methods or the interest-charge method for taxing income. Provides that if a passive foreign corporation is U.S.-controlled then every U.S. person owning stock in such corporation is subject to income inclusions under a modified version of controlled foreign corporation rules. Declares with regard to the mark-to-market method that: (1) if the fair market value of stock exceeds its adjusted basis, then the U.S. person shall include in gross income an amount equal to the amount of the excess; and (2) if the adjusted basis of stock exceeds the fair market value then the person shall be allowed a deduction equal to the lesser of the amount of such excess, or the unreversed inclusions. Describes a passive foreign corporation as any foreign corporation if: (1) 60 percent or more of its gross income is passive income; (2) the average percentage of assets which produce passive income or which are held for the production of passive income is at least 50 percent; or (3) such corporation is registered under the Investment Company Act of 1940, either as a management company or as a unit investment trust. Subtitle B: Treatment of Controlled Foreign Corporations - Provides that if a controlled foreign corporation sells or exchanges stock in other foreign corporations, then gain recognized on such sale or exchange shall be included in the gross income of such corporation as a dividend to the same extent that it would have been included if such corporation were a U.S. person. Repeals the special rules for foreign tax credits applicable to the receipt of previously taxed earnings. Revises provisions concerning: (1) determining pro rata share of gain from certain sales or exchanges of stock in certain foreign corporations; (2) basis adjustments in stock held by lower-tier foreign corporations; (3) determination of previously taxed income in redemptions through use of related corporations; and (4) treatment of branch profits tax exemptions or reductions. Subtitle C: Other Provisions - Allows the use of the average exchange rate for the period during which the taxes or adjustment is paid instead of the exchange rate as of the time of such payment. Permits the use of the simplified limitation on the foreign tax credit in determining the alternative minimum tax foreign tax credit. Title IV: Other Income Tax Provisions - Subtitle A: Provisions Relating to Subchapter S Corporations - Provides for determining whether a corporation has one class of stock, thus qualifying as an S corporation. Allows the Secretary of the Treasury to validate an invalid S corporation election by a small business corporation where the failure to properly elect S status was inadvertent or untimely. Provides that adjustments for distributions by an S corporation during a taxable year are taken into account before applying the loss for a year in determining the amount in the accumulated adjustment account. Repeals the rule that treats an S corporation in its capacity as a shareholder of another corporation as an individual. Repeals the rule that an S corporation may not be a member of an affiliated group of corporations. Eliminates the need to keep records of certain generally small amounts of earnings arising before 1983. Allows selling shareholders to be certain that their share of income will not be affected by income earned after the sale. Provides for the treatment of inherited stock. Subtitle B: Account Provisions - Revises the look-back method for long-term contracts and provides that for purposes of such method, only one rate of interest is to apply for each accrual period. Provides a method for capitalizing certain indirect costs. Subtitle C: Provisions Relating to Minimum Tax - Revises the corporation minimum tax depreciation preference. Repeals the special treatment of ownership changes in determining adjusted current earnings. Subtitle D: Tax-Exempt Bond Provisions - Repeals the $100,000 limitation on unspent proceeds under the one-year exception from arbitrage rebate. Provides an exception from rebate for earnings on bona fide debt service funds under the construction bond rules. Provides an automatic extension of the initial temporary period for construction issues. Provides an automatic extension of the initial temporary period for construction issues. Provides that discrete issues of governmental bonds issued simultaneously will not be treated as a single issue in cases where one of the issues is a tax and revenue anticipation note reasonably expected to satisfy the arbitrage rebate safe harbor. Authorizes the Secretary of the Treasury to provide exceptions from the requirement that taxpayers report interest on State and local government bonds on income tax returns in cases where it is determined that such information is not useful to the administration of tax laws. Repeals certain expired provisions. Subtitle E: Other Provisions - Provides for treating certain revocable trusts as estates. Defers the deduction of guaranteed payments by a partnership until the year in which they are includible in the partner's income. Provides that the taxable year of a partnership closes with respect to a partner whose entire interest in the partnership terminates, whether by death, liquidation or otherwise. Conforms the rules for determining gain where securities are exchanged in a corporate reorganization with other rules allocating amounts in a debt instrument between principal and interest. Title V: Estate and Gift Tax Provisions - Allows the right of recovery with respect to qualified terminable interest property (for which a marital deduction is allowed) to be waived in a will only by specific reference. Provides that a transfer from a revocable trust within three years of death does not result in the inclusion of the transfer in the gross estate. Revises the qualified terminable interest rules with respect to a trust and the marital deduction. Provides that a trust created before the enactment of the Revenue Reconciliation Act of 1990 is treated as satisfying the withholding requirement if its trust instrument require that all trustees be U.S. citizens or domestic corporations. Directs the Secretary to prescribe procedures which provide that executors will have the opportunity to submit subsequent information on a recapture agreement in the filing of an estate tax return. Title VI: Excise Tax Simplification - Subtitle A: Fuel Tax Provisions - Consolidates diesel and aviation fuel tax provisions. Consolidates the user credit and refund provisions for the fuels excise taxes. Combines the three refund procedures for fuels taxes into a uniform refund procedure. Eliminates the waiver requirement for fuels tax refunds for cropdusters and other fertilizer applicators. Provides exceptions to the mandatory information return requirement for certain sales of diesel and aviation fuels. Subtitle B: Provisions Related to Distilled Spirits, Wines, and Beer - Makes refunds available for imported bottled distilled spirits returned to distilled spirits plants. Permits records of exportation to be maintained by the exporter for purposes of canceling or crediting bonds furnished when distilled spirits are removed from bonded premises. Permits distilled spirits plants to maintain records of their activities at locations other than the premises where the operations covered by the records are performed. Allows beer to be transferred without payment of tax from a brewery to a distilled spirits plant to be used in the production of distilled spirits regardless of whether the brewery is contiguous to the distilled spirits plant. Repeals the requirement that wholesale liquor dealers post a sign outside their place of business indicating that they are wholesale liquor dealers. Repeals the requirement that wine returned to bonded premises be unmerchantable in order for tax to be refunded to the proprietor of the bonded wine cellar to which the wine is delivered. Allows the use of ameliorating material in certain wines made exclusively from a fruit or berry. Allows domestically-produced beer to be withdrawn from the place of production without payment of tax for the official or family use of representatives of foreign governments or public international organizations. Allows beer to be removed from a brewery without payment of tax for purposes of destruction. Allows drawback on exported beer without submission of records. Provides for imported beer to be withdrawn from customs custody for transfer to a brewery without payment of tax. Subtitle C: Other Excise Tax Provisions - Authorizes the exemption from registration requirements of certain tax-free sales. Repeals expired provisions concerning piggy-back trailers and deep seabed mining. Title VII: Administrative Provisions - Subtitle A: General Provisions - Changes the threshold for withholding and paying social security taxes from $50 a quarter to $300 a year for domestic service in a private home. Requires employers of household employees to report any social security or Federal unemployment tax obligation for wages paid to such employees on their income tax returns. Includes a household employer's social security and employment taxes in the estimated tax provisions. Authorizes the Secretary of the Treasury to enter into agreements with States to collect State unemployment taxes in the same manner. Incorporates into the general penalty structure the penalties for failure to provide information reports relating to pension payments. Allows reproductions of returns in digital image format by the Internal Revenue Service. Requires the Comptroller General of the United States to conduct a study of available digital image technology and report to specified congressional committees. Repeals: (1) the requirement to register tax shelters; (2) the authority to disclose whether a prospective juror has been audited; and (3) special audit provisions regarding the tax treatment of subchapter S corporations. Provides an explanation of the statute of limitations with respect to the return of a taxpayer. Subtitle B: Tax Court Procedures - Provides that an order to refund an overpayment is appealable in the same manner as a decision of the Tax Court. Declares that the Tax Court shall not have jurisdiction over the validity or merits of the credits or offsets that reduce or eliminate the refund to which the taxpayer was otherwise entitled. Provides that a taxpayer who seeks an award of administrative costs must apply for such costs within 90 days of the date on which the taxpayer was determined to be a prevailing party. Provides that a taxpayer who appeals a denial of administrative costs must petition the Tax Court within 90 days after the date that the IRS mails the denial notice. Provides that a taxpayer must file a motion (rather than a petition) to seek a redetermination of interest in the Tax Court. Provides that the net worth limitations applicable to individuals also apply to estates and trusts. Provides that individuals who file a joint tax return shall be treated as one individual for purposes of computing the net worth limitations. Subtitle C: Authority for Certain Cooperative Agreements - Authorizes the Secretary to enter into cooperative agreements with State tax authorities for purposes of enhancing joint tax administration.
United States · United States Congress · 26 June 1991
Title I: Provisions Relating to Individuals - Amends the Internal Revenue Code to repeal the supplemental young child credit and increase the earned income credit. Sets forth a two-year residence rule for taxpayers who sell a residence pursuant to a divorce or marital separation for purposes of determining the rollover of gain on the sale of a principal residence. Provides an exception to the passive loss rules if the loss does not exceed $200. Title II: Tax-Exempt Bond Provisions - Repeals the five-percent disproportionate private business use test for private activity bonds. Changes from $5,000,000 or less to $10,000,000 or less the exception from rebate requirements for governmental units issuing bonds. Removes the limitation on investment in nonpurpose investments for arbitrage bonds. Provides an exception from rebate requirements after an initial temporary period. Title III: Administrative Provisions - Subtitle A: Deposit Requirements - Includes railroad retirement taxes under rules for deposits of social security and withheld income taxes. Revises such rules to change required days of deposits, take into account small depositors, and provide a safe harbor for depositors with a shortfall. Amends the Railrad Retirement Solvency Act of 1983 to conform to such revisions. Subtitle B: Provisions Related to Corporate Estimated Taxes - Revises the rules on required installments of estimated income tax by corporations where such corporations have no tax liability for a preceding year. Subtitle C: Miscellaneous Provisions - Allows corporations to disregard any letter or notice of assessment or proposed assessment of tax if the deficiency or proposed deficiency is less than $100,000. Title IV: Modification of Estate and Gift Tax Marital Deduction - Revises provisions concerning estate bequests to a surviving spouse to declare that a 'specific portion' of such estate only includes a portion determined on a fractional or percentage basis.
United States · United States Congress · 24 June 1991
Pension Access and Simplification Act of 1991 - Title I: Simplified Distribution Rules - Amends the Internal Revenue Code to allow distributions from qualified pension plans to be rolled over tax-free to an individual retirement account or another qualified plan or annuity. Repeals: (1) the $5,000 limitation on the exclusion of employees' death benefits; (2) the five-year forward income averaging for lump-sum distributions; and (3) the exclusion of net unrealized appreciation of employer securities. Establishes a method of taxing annuity payments by taking into account the investment in the contract and the number of anticipated payments. Requires qualified plans to allow participants to elect to have distributions transferred directly to another qualified plan. Title II: Increased Access to Pension Plans - Establishes a simplified employee pension plan that allows salary reduction arrangements for employers of fewer than 100 employees. Allows State and local governments and tax-exempt organizations to participate in cash or deferred arrangements. Authorizes the Secretary of the Treasury, as a condition of sponsorship, to prescribe rules defining the duties and responsibilities of certain master and prototype retirement plans. Title III: Miscellaneous Simplification - Revises the definition of a leased employee to mean one whose services are performed under the control of a service recipient, instead of one whose services are historically performed by employees. Replaces the two-part nondiscrimination test for elective contributions under cash or deferred arrangements with a single test of whether the actual deferral percentage of highly compensated employees exceeds 200 percent of the average deferral percentage of nonhighly compensated employees for a plan year. Redefines the term "highly compensated employee" for pension, profit sharing, stock bonus plans, etc. purposes. Makes such an employee one who is a five-percent owner or who has compensation from the employer in excess of $65,000. Provides a special rule where no employees are treated as highly compensated. Provides for the treatment of certain family members. Provides that the cost-of-living adjustment with respect to any calendar year is based on the increase in the applicable index as of the close of the calendar quarter ending September 30 of the preceding calendar year. Requires the rounding of such amounts to the nearest $1,000, except that elective deferrals and elective contributions to simplified employee pensions are rounded to the nearest $100. Replaces the 59 1/2- and 70 1/2-year age requirement with 59- and 70-year age requirements for specified pension plans. Eliminates the special aggregation rules that apply to plans maintained by owner-employees that do not apply to other qualified plans. Permits certain employers to elect an alternative full funding limitation with respect to any defined benefit plan based solely on the accrued liability under such plan. Requires the Secretary to adjust the 150-percent current liability full funding limit for other plans if there is a revenue shortfall. Allows rural cooperative plans which include cash or deferred arrangements to make distributions to participants after attainment of age 59. Treats certain nonunion air pilots as a separate class of employees for nondiscrimination testing purposes. Eliminates the rule requiring ten years of service for employees subject to collective bargaining agreements under multiemployer plans. Redefines the retirement age to be the social security retirement age in lieu of age 65.
United States · United States Congress · 24 June 1991
Amends the Internal Revenue Code to repeal the requirement that less than 30 percent of the gross income of a regulated investment company be derived from the sale or disposition of any of the following which were held for less than three months: (1) stocks or securities; (2) options, futures, or forward contracts (other than those on foreign currencies); or (3) certain foreign currencies. Requires a broker to include on an information return with respect to gross proceeds from any disposition of stock in an open-end regulated investment company: (1) the basis of the stock disposed of; and (2) the portion of gross proceeds attributable to stock held for more than one year and the portion not so attributable (using a first-in, first-out basis). Defines an open-end regulated investment company as one which offers for sale or has outstanding any redeemable security of which it is the issuer. Sets forth special rules for determining the basis of stock in such companies. Disregards amounts included in gross income by reason of any expense reimbursement received by a regulated investment company for purposes of the requirement that at least 90 percent of its income be derived from investments.
United States · United States Congress · 12 June 1991
Authorizes the Go for Broke National Veterans Association to establish a memorial on Federal land in the District of Columbia or its environs to honor Japanese American Veterans. Prohibits any Federal funds from being used to pay any expense of the establishment of the memorial.
United States · United States Congress · 6 June 1991
Medicare Preventive Benefits Act of 1991 - Amends part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act to provide for coverage of fecal-occult blood tests (FOBTs) and screening flexible sigmoidoscopies for the early detection of colorectal cancer. Covers FOBTs on an annual basis for individuals aged 50 or over. Covers screening sigmoidoscopies provided every five years for individuals aged 50 or over. Provides payment for FOBTs under the laboratory fee schedule, subject to a five dollar limit in 1992. Provides payment for screening sigmoidoscopies under the relative value scale in 1992. Permits the Secretary to modify the frequency criteria after 1994. Provides for Medicare coverage of annual influenza vaccinations and for tetanus-diptheria vaccinations administered every ten years. Provides for Medicare coverage up to age seven according to a frequency schedule to be established by the Secretary of Health and Human Services (HHS) in consultation with appropriate entities. Provides for Medicare coverage of annual screening mammography for the early detection of breast cancer for women over age 64. (Currently, such women are covered for such screening performed every other year.) Requires HHS demonstration projects for the coverage of additional specified preventive care services and reports to specified congressional committees on such projects. Authorizes appropriations. Authorizes an Office of Technology Assessment study and report to the Congress on the development of a process evaluating possible Medicare coverage of other preventive care services.
United States · United States Congress · 9 May 1991
Expresses the sense of the House that: (1) on the basis of the presidential response of May 1, 1991, concerning issues relating to environmental protection, health and safety standards, labor and industry adjustment (including worker adjustment assistance), and worker rights, fast track procedures under the Trade Act of 1974 which provide for expedited consideration in the Congress of bills to implement trade agreements should be extended; (2) specified trade objectives should be met in order to implement such presidential response and to maximize the potential for reaching trade agreements that are in the best interests of the United States; (3) any trade agreement negotiated by the Administration should seek to reduce or eliminate tariff and nontariff barriers and other specified trade distorting measures, ensure intellectual property rights protection, reduce or eliminate barriers to trade in services, liberalize conditions for investment, and include effective mechanisms for periodic review of agreements and dispute settlement; (4) a North America Free Trade Agreement (NAFTA) must foster job creation within North America, preclude benefits to articles transshipped from third countries, permit the United States to maintain strict health and safety standards with respect to agricultural imports, provide safeguards to minimize industry, agricultural, and worker dislocations and to remedy the effects of injurious increases in imports, and maintain U.S. laws against injurious subsidies, dumping, and other unfair trade practices, and be accompanied by an effective worker adjustment program; and (5) the President should seek to develop a joint program to address border environmental problems related to air and water pollution, hazardous wastes, chemical spills, pesticides, and enforcement.
![Official portrait of Rep. Rostenkowski, Dan [D-IL-8]](https://www.congress.gov/img/member/r000458_200.jpg)